Transferring House in Company Name to Thai National (fees, taxes?)

[LuckyLucas]

Hello all

 

Im considering buying a house that is in a foreigners company name and putting it in my Thai wife's name.

 

the house has been in a company name for around 15 years and the sale price is 2.6mb. The amphur/ land office is sattahip (if that matters)

 

How much can I expect to pay in fees and taxes?

 

many thanks and regards to all

 

LL

 

 

[Peterw42]

As the buyer you would usually only pay half of the 2% transfer fee. All other taxes etc would be the responsibility of the seller (the company).

However, the seller may try and get you to pay half of everything. Its not the standard practice but many sellers try and do it. And unfortunately, some buyers being unaware, do pay half of the sellers taxes.

 

Specific Business Tax 3.3%	: the seller's duty
Stamp duty .5%	: the seller's duty
Transfer fees 2%	: the buyer's duty or shared
Withholding tax (income tax at nominal rate)	: always the seller's duty

 

 

Any sales contract should state "Buyer to pay only transfer tax, all other taxes paid by seller"

Edited February 5, 2022 by Peterw42

[LuckyLucas]

Thanks a lot for that

[Adumbration]

How much can you expect to pay in fees and taxes?

 

Nothing.

 

I always make an offer to the vendor of a single lump sum payment with he to pay all fees and taxes for the transfer.

 

Prior to agreed time to meet at the land office request a copy of the chanote and a copy of the vendors id.

 

Check numbering of hooa chanote pegs match chanote document.

 

Check vendor id is same as name on chanote.

 

Go to bank and get cashiers cheque made out to name on ID.

 

Invite vendor to join you at the bank to witness issuing of the cheque if they want.

 

Hand the cheque over only after your wife's name is on the new chanote.

[LuckyLucas]

Thanks for that advice.  Much appreciated 

[thaiflyer1]

Rather than start a new topic i/ll tag onto this one if i may.............

 

I have a have had a house in company name for the last 15 years if i sell to a foreigner and he wants the company presumably he simply replaces me as a director..........fairly inexpensive

 

If however its sold to a thai national who does not need the company when are the taxes for closing the company down paid?............do the land office deduct them if he/she pays in cash on the day of sale i.e he has lets say 2m cash in a bag hands it over to the land office and they give me 1.8 m back , the difference being the tax.................or do i need to pay the tax over the counter on the day and he gives me the 2m cash or cheque?...........or do the land office have nothing to do with the tax collection?

 

Question number 2.............if i decide to close the company down and hand the house over to my thai girl (20 years together) in order to give her some security for when i/m gone...........then obviously no 2m will be handed over, so in this scenario when are the taxes for company closure paid?.......on the day over the counter i would assume?.............or again nothing to do with the land office

 

thanks in advance..........

[baansgr]

Sattahip is 8.5% of aprraised value for company-Thai ownership, how you split it is up to you