Frequently Asked Questions
Frequently Asked Questions
1. Can Australians buy property in Thailand?
Yes! Australians, like other foreign nationals, can purchase property in Thailand, but there are restrictions. Foreigners are permitted to buy freehold condominiums as long as foreign ownership within the building does not exceed 49% of the total units. We help you navigate these rules to ensure a smooth purchase.
2. How do I know if the property I want is eligible for foreign ownership?
We take care of this for you! We’ll confirm that the condo you’re interested in is within the 49% foreign ownership limit and ensure that all legal and regulatory conditions are met before proceeding with the purchase.
3. What are the tax implications for Australian buyers in Thailand?
As an Australian tax resident, you will be required to report your Thai income (rental income, capital gains) to the Australian Tax Office (ATO). The Double Taxation Agreement between Australia and Thailand helps prevent you from being taxed twice. We’ll guide you through the relevant taxes and work with local experts to ensure compliance.
4. What’s the process for buying property in Thailand as a foreigner?
We handle everything for you — from property sourcing, negotiating the best deal, and securing the right property, to working with trusted legal experts to complete the transaction. We’ll guide you through the process step by step to ensure everything goes smoothly.
5. Do I need to be in Thailand to buy property?
No, you don’t need to be physically present in Thailand to complete the property purchase. We manage everything remotely for you, handling paperwork, legal formalities, and communication with local agents, so you don’t have to travel unless you prefer to.
6. What are the costs involved in purchasing property in Thailand?
There are several costs to consider, including transfer fees, stamp duty, withholding tax, legal fees, and more. For example, on a THB 6 million property, you can expect to pay approximately THB 490,000–500,000 in taxes and fees. We’ll break down the full costs and provide a transparent, detailed estimate.
7. What type of properties can I purchase as a foreigner?
As a foreigner, you can buy freehold condominiums (up to 49% foreign ownership in the building). However, foreigners are not allowed to own land or houses outright. We’ll help you navigate these restrictions and find properties that fit your investment goals.
8. How long does it take to buy property in Thailand?
On average, the property purchase process can take 4-6 weeks. However, this timeline can vary depending on the complexity of the transaction, the parties involved, and any legal requirements. We’ll keep everything on track and handle all the details.
9. Can I rent out my Thai property?
Yes, you can rent out your condo in Thailand. Many foreigners choose to generate rental income, especially in high-demand tourist areas. We’ll help you understand the local rental laws and connect you with property management services if needed.
10. Do I need a Thai bank account to purchase property?
While not strictly necessary for purchasing property, having a Thai bank account will be helpful for transferring funds during the purchase and for paying ongoing expenses like utility bills and property taxes. We can assist with setting up a Thai bank account for your convenience.
11. How do I ensure my investment is safe?
We’ll connect you with trusted legal advisors who specialize in Thai property law. Additionally, we carefully vet all real estate agents and developers we work with to ensure they’re reputable. Our due diligence process ensures you’re making a sound investment.
12. What’s the difference between owning a condo freehold and leasehold?
Foreigners can own freehold condos in Thailand, but they can’t own land. For properties like houses or land, you can enter into a leasehold agreement (typically for 30 years), which gives you long-term use of the property. We help you decide the best option based on your needs.
13. What are the risks of buying property in Thailand?
While the Thai property market offers great potential, there are risks, such as currency fluctuations, changes in the legal landscape, and property value fluctuations. We mitigate these risks by providing thorough legal advice, local market insights, and ongoing support throughout your investment journey.
14. What services do you offer to help with the property-buying process?
We offer end-to-end project management for property purchases in Thailand, including:
Property sourcing: We find the best properties that match your goals.
Negotiation: We secure the best possible price for your property.
Legal support: We introduce you to trusted law firms that specialize in Thai property law.
Full project management: We handle all aspects of the purchase, from start to finish, ensuring a smooth, stress-free process.