Useful Information
Here Are Some Useful Informations For You
Thai measurement conversion factors
The units of land measurement in Thailand are the Wah, Ngan, and Rai.
Conversion factors between Thai measurements and Metric measurements are:
|
1 Wah |
= 2 meters |
|
|
1 square Wah |
= 4 square meters |
|
|
100 square Wah |
= 400 square meters |
= 1 Ngan |
|
4 Ngan |
= 1 Rai |
= 1,600 square meters |
Conversion factors between Thai measurements, meters and acres are:
|
1 acre |
= 4840 square yards |
|
|
1 acre |
= 4,046.8561 square meters |
|
|
1 acre |
= 2.529285 Rai (approximately) |
|
|
hectare |
= 10,000 square meters |
= 2.471 acres = 6.25 Rai (approximately) |
The main taxes in Thailand on property are:
- 1. Income Tax or Withholding Tax
- This fee – generally from 1% to 3% on the value of the property – is normally paid by the seller. It is calculated with a complex formula including the value of the property, how long it has been owned and personal tax rate.
- 2. Transfer fee
- The Thailand Land Department charges 2% of the assessed value of all transfers of land and property.
This fee is paid on the day of the transfer of ownership, normally by the buyer.
- 3. Stamp Duty
- A duty of 0.5% is charged by the Thailand Land Department on value or purchase price, whichever is the higher.
This tax is not charged if Specific Business Tax is applicable (see below) and is usually paid by the seller.
- 4. Specific Business Tax (SBT)
- The seller will normally pay this 3.3% fee, which is levied on companies and on owners who have been in registered possession for less than five years.
Information About Foreign Ownership Of Property In Thailand
Foreign nationals can own
A unit in a registered Condominium
A building (as distinct from it’s land)
A registered leasehold of up to 30 years for all types of titled land (and/or buildings). However with appropriate extension and purchase options a 30 year lease can become tantamount to freehold purchase.