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Hello,

 

I am here on a retirement visa, not married, not permenent resident.

I would like to buy two apartments in two different condominiums.

Please can you confirm this is ok by law? Can a foreigner own two condos?

Assuming I can... if I keep the second one as a 'spare', without renting it, would I have any tax or other liability?

 

Thanks in advance for your help.

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I'm pretty sure yes. I do but they're connected. 

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No problem, I did it. 

 

A friend of mine had four, and many guys I know off have or had much more. 

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I am reading this: 
https://www.siam-legal.com/realestate/thailand-property-how-to.php

Can foreigners buy property in Thailand?

In Thailand, a foreigner may only own a condominium in his/her own name. If the foreigner wishes to acquire land and build a house, he/she should obtain a long term lease on the land (for a period not exceeding 30 years each term). Read more about "Leases in Thailand".

 

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No problem at all. The income tax depends on other things. Just follow the exact legal procedures how to buy a condo here. 

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I know a Chinese lady who owns 20 at The Base in Pattaya.

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1 minute ago, Peterw42 said:

You can buy more than one condo no problems but you will incur more of the wrath from the "dont buy a condo" crowd.

 

There is a minimal land tax for 2nd properties, 0.02%. I think the Government is playing around with that as part of post covid relief.

Thanks. I am not so worried about the 0.02% as much as I would be in calculating it and paying it, as I do not do any form of tax return at the moment. Will they just send the bill to me in the post or how does it work?

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1 minute ago, canerandagio said:

Thanks. I am not so worried about the 0.02% as much as I would be in calculating it and paying it, as I do not do any form of tax return at the moment. Will they just send the bill to me in the post or how does it work?

 

You can own as many condos as you want.

 

You will receive a precalculated invoice from the District Office, based on the size of your second unit.

 

To pay you just take the invoice and cash to the District Office. They will take the payment and give you a receipt.

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Posted (edited)
3 minutes ago, blackcab said:

 

You can own as many condos as you want.

 

You will receive a precalculated invoice from the District Office, based on the size of your second unit.

 

To pay you just take the invoice and cash to the District Office. They will take the payment and give you a receipt.

Lovely, how to determine which of the two is my second unit please? 

Edited by canerandagio

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14 minutes ago, canerandagio said:

Lovely, how to determine which of the two is my second unit please? 

 

There is no one answer to that question as it will differ from area to area. The hardest to dispute method would be that your first unit would be the unit you have a yellow house book for. If you don't have a yellow house book then it might be the unit you purchased first.

 

The only way of checking is to discuss the matter with the district office.

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Posted (edited)
31 minutes ago, Peterw42 said:

You can buy more than one condo no problems but you will incur more of the wrath from the "dont buy a condo" crowd.

 

There is a minimal land tax for 2nd properties, 0.02%. I think the Government is playing around with that as part of post covid relief.

AFAIK this tax relief that was introduced last year is like many other things for Thais only. Only people that qualify to be listed in the blue tabien baan book get the discount.

Edited by CLS

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