Best way of selling land in Hua Hin

[Bright_grey]

I have 1 Rai of land in a good location in Hua Hin that was bought 7 years ago through my Thai company. Myself and my Thai wife are both directors with me owning the controlling share. We feel the time is right to sell the land now and already have a buyer who happens to the person who owns the land next to it (a Thai citizen). Can anybody advise the best way to go about this in terms of paying minimum tax and costs? Is it more cost / tax efficient for the purchaser to buy the land from the Thai company leaving us with the company or to sell the whole company to the purchaser with the land it owns? We have no particular interest in keeping the company. Many thanks in advance.

[PattayaPhom]

Company to Thai name in Pattaya and Sattahip attracts 6.3% tax. Regardless of what price you sell for, the land offices assessed price is what you will pay tax on.Taking over the company will incur lawyers fees approx 12K so cheaper and easier however the Thai will not want the hassle of the company and natuarally prefer in their own name. Maybe your wife has a friend of a friend that has a friend at the land office who could assist you

[Bright_grey]

I understand what you are saying about a Thai not wanting or needing the company even though it's a less expensive way to take ownership of the land. I’ve also since learned there's a cost of closing the company too although that seems to vary from 25,000 to 150,000! Your last sentence makes perfect sense so I will make some enquiries, thanks!

[PattayaPhom]

Depending on how far through the tax year will determine the cost of closing your companybut it shouldnt be more than 30k...