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We searched many private home and condominium projects in the Pattaya / Bangkok area and selected Sedona Villas for the impressive design, layout and quality construction. The developer's attention to detail and quality is prevalent throughout all of the exterior and interior features of the home. Based on our excellent experience with the development and property management team, we have highly recommended Sedona Villas to our friends and colleagues.
Mr. John Leboeuf and Dr. Boossakorn Saisorn
In practice, the method most commonly used by foreigners is to invest in a Thai private limited company which owns or intends to acquire freehold land. The Articles of Association can be varied to allow greater protection for foreign minority shareholders where majority Thai ownership is required under the Alien Business Law. Thai law requires that 51% of the shares be held by Thai juristic persons. The results in the foreign ownership of the company being limited at 49%, but with the recommended changes to the Articles of Association, the foreigner can be the only director of the company, and the only officer of the company who can commit or bind the company in any contractual dealings - effectively giving the minority shareholder control over the company. The company is required to submit an annual balance sheet once per year, and there will be a tax obligation, however the costs are minimal and your lawyer will have an accounting department able to assist you with the above.
Yes it is called Chanote, "Nor Sor 4 Jot" and is the only document which can be described a land title deed, because it alone confirms ownership of land. The land is accurately surveyed and its area and boundaries are set using GPS. There is no need to publicize any legal acts, and it is possible to partition (divide) the land into smaller plots. All of our plots come with a separate Chanote to your individual piece of land.
Whenever a property in Thailand is bought and sold, there are four taxes that need to be taken into account.
1. Land registration (transfer fee) of 2.0% of assessed value of the land.
2. Stamp Duty/Fee of 0.5% of the assessed value or the sale price - whichever is higher.
3. Specific Business Tax of 3.3% of the assessed value or the sale price - whichever is higher - this will be applied to all sales by companies and to any private sales that occur within 5 years of the date of purchase.
4. Income Tax - this is calculated on a very complex formula based on the assessed value of the property, the length of time owned and the applicable personal income tax rate. In practice, this will work out to under 2% of the price for low to medium value properties, and up to 3% for higher value properties.
We will share the transfer fees with you and each party will pay 50%.
Yes, we do have a limited number of homes we offer for long term rental. Please inquire about current availability.
Yes, we do have some properties available with long term rental contracts in place. Or ROI is between 7-9% Please inquire about availability.
Yes, we already have registered some of the properties in individual unique company names. These houses are ready for the customer to assume and simply have the lawyer change the director of record.
It is very difficult to obtain a mortgage or loan for a foreigner in Thailand. However a Thai national with a good income and credit record can obtain a bank loan. We do however offer a limited amount of financing to our clients. Please inquire.
There are no property taxes as such in Thailand that are exactly equivalent to the property taxes in the west, however, the most comparable taxes on properties in Thailand is the Land Tax. The Land Tax levied on land is so miniscule, that in practice the body charged to collect it, rarely bothers to do so, and if they do, they usually wait several years until the amount accumulates.
Land is measured in Rai - Ngan - Talang Wah (Tw2)
1 Rai = 1600 square meters (1 Rai = 4 ngan or 400 Tw2)
1 Ngan = 400 square meters (1 ngan = 100 Tw2)
1 Talang Wah = 4 square meters