Foreigner buyer
Another option is to set up a private limited company with mixed Thai and foreign ownership, the foreign ownership being 49% or less. Companies are allowed to own land. The foreign national can control the company by using a legal power of attorney from the Thai shareholders, handing control to the foreign directors, or through assigning greater voting rights to the foreigner partner/s. This is an effective and time-tested route, most commonly taken by foreigners. The help of a lawyer is very important.
Foreigners can also invest at least THB40 million in a Board of Investment approved project. They will then be allowed to purchase up to 1 Rai (1,600 square meters) of land.
| Transaction Costs |
|
Who Pays? |
| Transfer Free |
2.00% |
Seller |
| Withholding Tax |
1% |
Seller |
| Specific Business Tax |
3.30% |
Seller |
