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Selling a Condominium in Thailand

Transcript of the above video:

As the title of this video suggests, we are discussing selling a Thai condominium.

In recent months, unfortunately due to the Coronavirus, we have had increasing demand for folks to sell their condo in Thailand. 

Those watching this video who may be looking at buying a condo, understand this definitely is a buyer's market. I think that there are a lot of bargains to be had in the Thai condo market as of the time of this video. But really this video pertains to those who are looking to sell their condo in Thailand. 

Some things that need to be kept in mind with respect to selling a condo in Thailand is first of all, you have to ascertain the posture of your asset. Is it a freehold Thai condo that was purchased in freehold just on an individual basis? Is it a condo that is owned through a Thai Company, so a Thai Company that was set up for the specific purpose of owning Thai property, in this case a condominium? Is it a Thai condo that is held within the Thai quota so for example we have a lot of folks that are married to Thai Nationals that the Thai condominium might be in their spouse’s name? Is that condo in your spouse's name and you are selling a condominium that is within is called the Thai quota within a Condo Juristic Person? All of this needs to be before a sale goes through.

The other thing that needs to be ascertained is what the tax rates are going to be with respect to a property transfer. So for example whether or not the specific business tax is going to apply in a case involving the sale of a condo and that is going to hinge upon the duration of the ownership of the underlying asset. Meanwhile there may be some differential with the way that the Thai Property Tax regime has changed. Again these Tax matters, it is probably not a terrible idea to contact a legal professional in order to ascertain the tax liability associated with the sale of a Thai condo as well as assistance possibly in conveyancing, so assistance in closing or in transferring the ownership of that condominium out of your hands, obtaining your funds in compensation for that sale and getting a transfer to the buyer's ownership.

So again not a terrible idea to contact a legal professional with respect to the sale of a condominium in Thailand.