Property held in a registered Company in Thailand

Many Foreigners choose to own property using a registered Thai company. It’s one way to deal with the limitations on foreign ownership of property in Thailand be it a house, land or a Condominium.

Their are several advantages by using this method the main ones being, no land office transfer tax only a nominal charge to change Director and if 2 Directors are registered only 1 Director is required to sign the annual balance sheet or transfer ownership of the company.

The annual balance sheet prepared by your accountant has to be signed and submitted each year in accordance with the laws of Thailand. The company is also required to have an audited financial statement prepared every year by a licensed accountant.

Failure to file the annual report can have serious consequences. If the company is still active the Commerce Department might decide to “de-register” if for failing to comply with the reporting requirements. If the Revenue Department finds taxes owed they could add substantial fines.

When the transfer is completed you will receive:

1. Title deed

2. Land Office form showing transfer assessment of the current value.

3. Blue house book

4. Company registration papers including balance sheet.