Harveyboy Posted January 25, 2022 Share Posted January 25, 2022 hey folks i posted a couple of week's ago about the problem of a condo in company name i wanted to change one option was to transfer it into Thai name i read it was 2% of price of property last night my wife showed me a message she had received saying now from this week it 00.01% which is basically nothing but it must be going into Thai name ..has anyone heard of this tks Link to comment Share on other sites More sharing options...
blackcab Posted January 25, 2022 Share Posted January 25, 2022 Yes, transfer tax has been reduced to 0.01 per cent for properties under 3 million baht (so a maximum of 300 baht) - but for Thai nationals only. Non Thai citizens still have to pay the full 2 per cent transfer tax, or whatever percentage of the 2 per cent they negotiate with the seller. The discount for Thai citizens lasts until 31 December 2022. Link to comment Share on other sites More sharing options...
sungod Posted January 25, 2022 Share Posted January 25, 2022 If its in a company I think you will have to pay specific business tax on top too, 3%. Then you have the cost of closing the company, about 30,000 THB depending on who you go to. 1 Link to comment Share on other sites More sharing options...
stubuzz Posted January 25, 2022 Share Posted January 25, 2022 1 hour ago, blackcab said: Yes, transfer tax has been reduced to 0.01 per cent for properties under 3 million baht (so a maximum of 300 baht) - but for Thai nationals only. Isn't this only for new builds. Link to comment Share on other sites More sharing options...
Peterw42 Posted January 25, 2022 Share Posted January 25, 2022 57 minutes ago, stubuzz said: Isn't this only for new builds. It was initally only for new builds, has been updated to be all properties under 3m Link to comment Share on other sites More sharing options...
stubuzz Posted January 25, 2022 Share Posted January 25, 2022 1 hour ago, Peterw42 said: It was initally only for new builds, has been updated to be all properties under 3m Just my luck. I had to pay full price in December! Link to comment Share on other sites More sharing options...
Peterw42 Posted January 25, 2022 Share Posted January 25, 2022 3 hours ago, stubuzz said: Just my luck. I had to pay full price in December! You still wouldn't get it as it only applies to Thais Link to comment Share on other sites More sharing options...
donx Posted January 25, 2022 Share Posted January 25, 2022 5 hours ago, Peterw42 said: You still wouldn't get it as it only applies to Thais Does it apply to land purchases as well? If so, when did this come into effect? I'm curious because my wife recently bought a plot of land. She's still in Thailand and hasn't discussed the details of her transaction yet. Link to comment Share on other sites More sharing options...
Peterw42 Posted January 26, 2022 Share Posted January 26, 2022 6 hours ago, donx said: Does it apply to land purchases as well? If so, when did this come into effect? I'm curious because my wife recently bought a plot of land. She's still in Thailand and hasn't discussed the details of her transaction yet. https://www.pattayamail.com/thailandnews/thailand-cuts-property-transfer-and-mortgage-fees-to-stimulate-economy-386597 Link to comment Share on other sites More sharing options...
donx Posted January 26, 2022 Share Posted January 26, 2022 3 hours ago, Peterw42 said: https://www.pattayamail.com/thailandnews/thailand-cuts-property-transfer-and-mortgage-fees-to-stimulate-economy-386597 Well my wife didn’t get the discount because she bought the land on January 13 which was before this came into effect. Link to comment Share on other sites More sharing options...
Harveyboy Posted January 26, 2022 Author Share Posted January 26, 2022 21 hours ago, Peterw42 said: It was initally only for new builds, has been updated to be all properties under 3m tks Link to comment Share on other sites More sharing options...
Harveyboy Posted January 26, 2022 Author Share Posted January 26, 2022 23 hours ago, blackcab said: Yes, transfer tax has been reduced to 0.01 per cent for properties under 3 million baht (so a maximum of 300 baht) - but for Thai nationals only. Non Thai citizens still have to pay the full 2 per cent transfer tax, or whatever percentage of the 2 per cent they negotiate with the seller. The discount for Thai citizens lasts until 31 December 2022. ok so im foreign my wife thai..condo value 1.4 ...close company and transfer to my wife add a userfruct at land office what would you estimate final costs mate ..at a guess tks Link to comment Share on other sites More sharing options...
blackcab Posted January 26, 2022 Share Posted January 26, 2022 You need to transfer the condominium before you close the company. If you somehow manage to do it the other way around you will be in real difficulty when you get to the land office as you will be trying to sell a property from a company that does not exist any more. 1 Link to comment Share on other sites More sharing options...
Harveyboy Posted January 26, 2022 Author Share Posted January 26, 2022 1 hour ago, blackcab said: You need to transfer the condominium before you close the company. If you somehow manage to do it the other way around you will be in real difficulty when you get to the land office as you will be trying to sell a property from a company that does not exist any more. ok mate thanks Link to comment Share on other sites More sharing options...
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