Land Office Fees Going Up March 26 (correction)

[BigC]

Stop whinging we're all lucky to be here.

Surely you jest! That's right. Can't complain. Not allowed to... We're GUESTS here. poppycock

yes we are lucky be here. we come. we come buy we set up companys we employ a minum of 5 thai people. just to buy a house. then get taxed through the roof.

this is polictal. Taksin paid off all of thailands debt hen he came into power. kept taxes low. no this govement wants to live by the book and live off money gernerated in the country. Basically yes. just like living back home. 1 problem the forangs go home who is going to pay the tax then for these thais who are now living a nice luxury life styles expensive things. Not to mention the toursime industry is going to be hit hard over the next few months with all this protests going on.

If things go on and example the forangs did leave. then it would be like enngland the rich pay less tax and the poor get it hard. This prime minister as educated in England he know hw to look after the upper class

[123ace]

This does affect all buyers and sellers regardless of nationality, and the company ownership approach is so flawed on so many levels that this extra 'burden' really should not pose a problem. If anything, it will reduce the new supply of foreign buyers, naively setting up companies to 'sort of' circumvent the law.

As i have said before and will say again. But a freehold condo!

[BigC]

This does affect all buyers and sellers regardless of nationality, and the company ownership approach is so flawed on so many levels that this extra 'burden' really should not pose a problem. If anything, it will reduce the new supply of foreign buyers, naively setting up companies to 'sort of' circumvent the law.

As i have said before and will say again. But a freehold condo!

thanks for that. i have a house i am trying to sell. i would be lucky if u get what i paid for it. it is hudge. Bascally anyone that owns a thai company in real eastate is forang. if they are thai they would buy in there on name. Anyay even a thai wouldn't buy a big house. who would he sell it on to when he wants to leave. unless the house prices hit even lower than rock bottom. Then all that hard work and money spent will be helping a thai live in luxury at my expense !

Thing is i cannot leave now cause my money is pardon the Pun Tied up here. i am stuck so if they want me to go home they can pay me!

Edited February 24, 2010 by BigC

[quiksilva]

This has nothing to do with companies or foreigners, the vaguely written article refers to the end of the promotion on land transfer costs, specifically Transfer Fees reverting to 2% and Specific Business Tax reverting to 3.3% which takes place on March 28th.

[Hawk]

I have my wife & 4 kids in the lovely land of not so many smiles I think I'm gonna think about spending less of my hard earnt UK salary out there & get the family settled in the UK. Once foreigners cut back on holidays & spending, etc in Thailand & holiday elsewhere they might notice a difference. I used to love coming to Thailand but now some changes are on the books.

I really don't think this country worries about your meager amount of money, do you?

And once you are back in England you won't have any money left to spend, that will make you feel less than happy with your life, and I'm sure wifey and the kids will hate that cold weather they have there, and the rest of the bad shit that people have to put up with every single day.

Also, foreigners are not cutting back on coming here at all, in fact more will be coming as time goes by. Everywhere changes, just look at England to see how that place has changed, for the worst.

[DickFarang]

You guys can harp on.

Do you know how much it costs when you buy/sell houses in the UK, and if it's your second property look-out

You'll note that TV kept the Company ownership separate for ease of breaking it down to explain, it doesn't imply only falang prices are going up, although true this is generally the way falang buy property. It then goes on to say that individuals will see an increase as well, I recently sold a house that I'd owned for +2yrs and was charged all in about 2%, this is now going up to 3%, this transaction has nothing to do with falang.

On the plus side (which you are either forgetting or have never purchased in Thailand b4), the land office only charges the tax once on the sale of property to the company, after that the property (ie company) can change hands as often as you like but the land office doesn't get a baht from the transaction, cos the method of transfer is done simply by transferring the company, (1hr in a lawyer's office) the land office doesn't play any part in the transaction.

Stop whinging we're all lucky to be here.

That is what I thought too, sell the company instead of the property.

[tonglen]

Don't you just love these increases whenever farang are concerned?

Not 10% or even a hefty 50% as might be expected, maybe?

But 650%.....!!!!!

(yes, yes, it's "because it was lowered 2 years ago")

Exactly, deadbloke, not exactly a subtle increase, eh? We all got bent over and they didn't even kiss us first!

All this after the tourism authority said they will start "appealing to the QUALITY and not QUANTITY of tourists."

This will not work qualitatively OR quantitatively. Not smart.

[Otis]

farangs go home

Off by half maybe. More like-- Farangs , leave money, go home. oc

[WhisperingJack]

I have my wife & 4 kids in the lovely land of not so many smiles I think I'm gonna think about spending less of my hard earnt UK salary out there & get the family settled in the UK. Once foreigners cut back on holidays & spending, etc in Thailand & holiday elsewhere they might notice a difference. I used to love coming to Thailand but now some changes are on the books.

Byeeeeeeeeeeeeee ...

Your hard earned salary is going to go very much less far, back in the UK.

Still, you have a choice, Use it wisely.

Spend your hard earned UK salary as quick as you can because what are you going to do when the GBP is worth less than 40 baht. Whingeing POM go home and see what sort of a house you can buy in the UK for 2 or 3 million baht

[WhisperingJack]

Stop whinging we're all lucky to be here.

Surely you jest! That's right. Can't complain. Not allowed to... We're GUESTS here. poppycock

yes we are lucky be here. we come. we come buy we set up companys we employ a minum of 5 thai people. just to buy a house. then get taxed through the roof.

this is polictal. Taksin paid off all of thailands debt hen he came into power. kept taxes low. no this govement wants to live by the book and live off money gernerated in the country. Basically yes. just like living back home. 1 problem the forangs go home who is going to pay the tax then for these thais who are now living a nice luxury life styles expensive things. Not to mention the toursime industry is going to be hit hard over the next few months with all this protests going on.

If things go on and example the forangs did leave. then it would be like enngland the rich pay less tax and the poor get it hard. This prime minister as educated in England he know hw to look after the upper class

The rich actually pay some tax. If you would stop pulling your pud and grew a brain you would know that the poor in Thailand pay zero tax. Zombie!!!!

[alstaxi]

yes everyone that does this type of buying and owning will have to pay the real rate

EVERYONE not just falang

Thais do not need to form a thai company to buy land , as they can own land, we cannot, the tax increase is on thai companies buying land, farangs, so not everyone.

[alstaxi]

Property transfered between individuals will be charged three percent fees if owned for more than two years by the current owner. If owned less than two years the fee is higher, between five and six and a half percent.

So farang companies are charged double the fees that individuals(thais) are charged, sounds like a baht bus pricing system.

[steve187]

I have my wife & 4 kids in the lovely land of not so many smiles I think I'm gonna think about spending less of my hard earnt UK salary out there & get the family settled in the UK. Once foreigners cut back on holidays & spending, etc in Thailand & holiday elsewhere they might notice a difference. I used to love coming to Thailand but now some changes are on the books.

don't bring the family back here. everyone is trying to leave, I'm on my way next week, there's no work here!!

[Carmine6]

Don't you just love these increases whenever farang are concerned?

Not 10% or even a hefty 50% as might be expected, maybe?

But 650%.....!!!!!

(yes, yes, it's "because it was lowered 2 years ago")

Exactly, deadbloke, not exactly a subtle increase, eh? We all got bent over and they didn't even kiss us first!

All this after the tourism authority said they will start "appealing to the QUALITY and not QUANTITY of tourists."

This will not work qualitatively OR quantitatively. Not smart.

Oh, the poor land buying tourists. Next year they'll be steered to another country to buy land.

"Honey, should we go to Thailand for our holiday?"

"No f'in way. Have you seen the land transfer taxes there?"

[SiriusBlack1]

Screw the Farang year.

Aaah, the Thaivisa knee-jerk paranoia. It's the new 'First' on discussion board threads.

I think you'll find this affects literally millions more Thais than it does farangs.

Screw the Thais year Ha, that will teach them.

Um, Thais can buy land in their own name.

Foreigners have to go through a company.

Consider yourself proven wrong.

[griz47]

Is this the official fee increase or the T money to get things moving as well?

[thaiwanderer]

Screw the Farang year.

Aaah, the Thaivisa knee-jerk paranoia. It's the new 'First' on discussion board threads.

I think you'll find this affects literally millions more Thais than it does farangs.

Screw the Thais year Ha, that will teach them.

Um, Thais can buy land in their own name.

Foreigners have to go through a company.

Consider yourself proven wrong.

Foreigners don't HAVE to buy land.

(subject to minor exceptions) foreigners involved in buying land actually pay less than their thai corporate partners as they can only own a minority of the company - so it affects thai individual shareholders more.

If however you are referring to companies where the thai shareholders are merely nominees are you genuinely suggesting anyone should sympathise with foreigners having to pay more fees in their illegal operations?

Edited February 24, 2010 by thaiwanderer

[basjke]

Foreigners don't HAVE to buy land.

(subject to minor exceptions) foreigners involved in buying land actually pay less than their thai corporate partners as they can only own a minority of the company - so it affects thai individual shareholders more.

If however you are referring to companies where the thai shareholders are merely nominees are you genuinely suggesting anyone should sympathise with foreigners having to pay more fees in their illegal operations?

Can you give some examples as to where this is not the case.

[raminisme]

Is simple, they don't want us in their county, so they are pushing everything up in fees to drive us away. ATM fees, Land fees, next it'll be 200% on beer and hotel rooms.

Just wait, the women will be charging us a added tax when we take them away for the evening.

This isn't going to bother me as we already own our home. Don't drink, don't use hotel rooms or pay a woman to spend the night with me.

[NamSod]

farangs go home

No, and I am going to bring as many more as I can. We will OWN you.

[craigt3365]

So what's the effect if you have a house in a company and you want to transfer it to your wife's name? Will this new rate apply? Is it best to do this transfer now? Sure would appreciate some help on this one!

[backsoon]

Is simple, they don't want us in their county, so they are pushing everything up in fees to drive us away. ATM fees, Land fees, next it'll be 200% on beer and hotel rooms.

Just wait, the women will be charging us a added tax when we take them away for the evening.

This isn't going to bother me as we already own our home. Don't drink, don't use hotel rooms or pay a woman to spend the night with me.

It is a bit selfish/shortsighted. I am in the same position, but my g/f upon my death will have to fork out 300,000bt for the transfer. And no land is involved!

Comparison with the West here is out of place, considering the local earnings level.

Besides, this is a Tax on money imported, not earned in Thailand. A bit unfair?...

[quiksilva]

It has NOTHING to do with companies. When title to land is sold or transferred taxes and fees must be paid.

The rate at which they are paid however was TEMPORALLY reduced in a promotion which ends March 28th this year, at which points rates go back to their NORMAL levels.

It has NOTHING to do with your nationality it applies to ALL transactions.

[Khun Jean]

but, but , but now quicksilva we can not feel like victims. boohoo...

[lensta]

Is simple, they don't want us in their county, so they are pushing everything up in fees to drive us away. ATM fees, Land fees, next it'll be 200% on beer and hotel rooms.

Just wait, the women will be charging us a added tax when we take them away for the evening.

This isn't going to bother me as we already own our home. Don't drink, don't use hotel rooms or pay a woman to spend the night with me.

It is a bit selfish/shortsighted. I am in the same position, but my g/f upon my death will have to fork out 300,000bt for the transfer. And no land is involved!

Comparison with the West here is out of place, considering the local earnings level.

Besides, this is a Tax on money imported, not earned in Thailand. A bit unfair?...

check with the lawyer that wrote your will to find out if there is still a transfer fee when a property is willed to another person,

maybe it is different

[Carmine6]

It has NOTHING to do with companies. When title to land is sold or transferred taxes and fees must be paid.

The rate at which they are paid however was TEMPORALLY reduced in a promotion which ends March 28th this year, at which points rates go back to their NORMAL levels.

It has NOTHING to do with your nationality it applies to ALL transactions.

I think what's hanging people up is the article only talks about limited companies. Which gives the mistaken impression that only limited companies are facing the fees.

What it should have said is that fees on any transfer are going up, regardless of the form of ownership, whether individual, partnership, or company.

[asiawatcher]

So? Go buy a condo for USD30,000 anywhere other than Thailand and if you can, good riddance! If you can feed yourself for USD2 a plate anywhere else, go - sooner the better. And if you want to keep Miss World without attitude then stay. Remember the best lady you would find in your own country would have three kids and looking for another house and payoff within 5 years, not forgetting attitude etc.

6% tax on what? ... on a purchase price your own countries only just remember (well at least you parents - if still living - may remember.)

[NinjaGladiator]

Property transfered between individuals will be charged three percent fees if owned for more than two years by the current owner. If owned less than two years the fee is higher, between five and six and a half percent.

So farang companies are charged double the fees that individuals(thais) are charged, sounds like a baht bus pricing system.

Well you steam-rolled right over the most important part of my original post, the land office may charge double for this particular transfer, actually it's not given that the average falang holds propety for less than 2yrs (something to do with them not managing their finances properly and going home with tail between the legs - don't re-act, it's only for those where the cap fits!) so given that, the 6.5% is the same as individual transfers. now onto my original post, company transfers have it easy, the Land office do not get any revenue from the transfer, only the initial transfer into the company name, so really we got it easy, I can't believe there is 3 pages of whinging on here, when- if you actually own property in this way you are laughing, cos the increase doesn't involve you, and if you buy a property already owned by a company, you won't pay any taxes to the land office.

[Langsuan Man]

Why is no one up in arms about the lousy reporting of this "rollback" ?

Do I believe the Ministry of the Interior or do I believe the Cabinet ?

BANGKOK: -- "A nationwide increase in land offices fees will go in effect on March 2," a spokeswoman for the Ministry of Interior announced in Bangkok.

[taurus8]

Don't you just love these increases whenever farang are concerned?

Not 10% or even a hefty 50% as might be expected, maybe?

But 650%.....!!!!!

(yes, yes, it's "because it was lowered 2 years ago")

where did you do your math... mine works out to about 7.9 %