Any transfer of ownership will be seen by the land office as a sale, and the normal taxes and fees will be payable, The taxes, of around 5%, will be calculated on what the land office says the property is worth.
The property can be willed to you, but I think you will find the taxes/fees will still need to be paid, and a foreign currency transfer shown for the amount of the condo valuation.
The rules are not enforced.... I was thinking this as I tried to cross 3rd Rd yesterday, counting those on motorcycles without helmets. Seeing how this couple turned in front of this fast moving vehicle is heart stopping.
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