Thailand Mortgage
If planning to buy in Thailand, you may wish to consider a Thailand mortgage. Buying a Thailand home with a mortgage is currently uncommon and under Thailand law, mortgages may not be readily available for non-residents. Ensure you obtain up-to-date Thailand mortgage information from your legal advisor.
Your legal advisor can provide you with the most important information on a Thailand mortgage and advise you on the current financing structure for the purchase of Thailand land and properties. Releasing equity from your current properties may be a more viable alternative to a Thai mortgage.
Thailand Tax
Under Thailand law, foreigners may own between 49% and 100% freehold on certain Thailand properties. A 30-year renewable leasehold on a Thailand buy is also possible. Investors in Thailand land and property also require a foreign exchange certificate. Given the complexities of Thailand law relating to buying in Thailand, it is essential you obtain legal advice. Your Thai lawyer can also provide you with Thailand tax information.
Buying Thailand land and property means you are liable for the payment of certain Thai taxes such as 2% transfer tax. Income tax may also be payable.
