Sell The House Here, Eu Owner To Eu Or Us Or...citizen

[Geppis72]

Just matter of curiosity because the loop is not clear to me :

When you buy first hand house you pay directly the builder from an outside country to LOS.

Let's say 5 Mil. Bath

Of course you ask and get yours Thor Thor 3 certificates to avoid tax later on.

Now, let's say you sell the House, buyers is not living in LOS, at 6 Mil. Bath

How this works normally ? Here my personal consideration :

I believe (pls correct me if I'm wrong) you will pay tax only if money goes

out of Thailand to your origin country on your Million Bath profit,

that why you have T.T.3 which is absolutely fair.

BUT

could the buyer send the money directly from overseas to your overseas account ?

I mean an American paying another American or European ?

I'm not asking this to avoid tax, most probably you have to explain

a lot to your Bank and Authority about why the money arrive and what's for,

also possible much more tax are involved on full amount,

but only to understand better the situations.

Not sure if I was clear enough but tks for yr comments

[chiang mai]

Just matter of curiosity because the loop is not clear to me :

When you buy first hand house you pay directly the builder from an outside country to LOS.

Let's say 5 Mil. Bath

Of course you ask and get yours Thor Thor 3 certificates to avoid tax later on.

Now, let's say you sell the House, buyers is not living in LOS, at 6 Mil. Bath

How this works normally ? Here my personal consideration :

I believe (pls correct me if I'm wrong) you will pay tax only if money goes

out of Thailand to your origin country on your Million Bath profit,

that why you have T.T.3 which is absolutely fair.

BUT

could the buyer send the money directly from overseas to your overseas account ?

I mean an American paying another American or European ?

I'm not asking this to avoid tax, most probably you have to explain

a lot to your Bank and Authority about why the money arrive and what's for,

also possible much more tax are involved on full amount,

but only to understand better the situations.

Not sure if I was clear enough but tks for yr comments

You pay tax on the sale at the Land Registry Office which is the point in time that ownership of the property is registered with the new owner. Sure you can cut everyone out of the loop as you propose but the new owner will not be able to register his interest in the property and that means that he will never be able to sell it unless he sells the same way that you do.

[Gaudente]

I think the buyer needs his TorTor3 to buy the property even if it is second hand, and to get that he needs to wire the money to a Thai bank that certifies the money came from abroad by issuing the TorTor3.

[Geppis72]

TKS, I find your answers interesting.

Could you explain what's the normal procedure to sell ?

The proposed case is the usual Co.Ltd Set Up 49/51.

I'm trying to understand the physical money movement involved

and possible options.

[johnnyk]

You could always sell the house at a small profit IN Thailand to keep everyone happy.

Just have the rest of the profit paid into an offshore account. This is a common occurrence in Europe where taxes are brutal. The downside is that the buyer will have to do similar and he may feel it is too much trouble.