Selling House What Is The Process

[ladybiker]

Hello,

All advice welcome. We are a farang couple that bought a house [and land] via the company ownership route about five years ago. My question is, if we sell to another farang couple can we transfer the company to them, is this a difficult process for them or us.? I presume if we sell to a Thai the process is easy and we just close down the company, is this correct.? I am aware that we face problems taking the money from the purchase out of Thailand, can the money be transfered direct from the buyer to the seller in the UK for instance if we sell to a farang?

Thanks in advance.

[bigwilly]

Hello ladybiker.

Yes you can transfer the Company directors ie replace your name with the buyers name, quite a simple admin process which could be done by the person who does your yearly accounts. Not expensive to do about 6 to 10,000Baht.

Yes you can be paid for the Company and thus the house in the UK, no need to bring the money here to Thailand, this does save the hassles of sending money out. As a bonus if your buyer takes up the existing Company you both avoid transfer fees and tax as the land does not transfer ownership it remains an assett of the company, remember if you sell to a Thai and transfer the Title deed to the buyers name expect to pay transfer fees and tax at your local land office, you will also face costs to shut your Company down or face yearly audit and income tax fees.

This is from my experience of disposing of several House and land plots. Good luck. Probably the hard bit is finding a buyer in these difficult times. Quick and simple process. Speak to your lawyer or accountant to confirm above as each person has different experiences I am sure.

Regards BW.