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Can I legally rent out a property in Thailand?
Requested and Answered by Authority on 05-Mar-2009 11:24 (3067 reads)
A person, earning money from selling property in Thailand, is taxed a withholding tax (from 0 to 37%) A specific business tax of 3.3%, of the appraised price or the purchase price whichever is higher, must be paid in case that a buyer has a property in his possession for less than 5 years. A fee of transfer of ownership is 2% of the appraised price. A government stamp must be paid only when a specific business tax is not applicable.

As regards to transferring monies out of Thailand, you must bring your bank account documents and a passport to a bank to arrange a transfer. A transfer of more than $20,000 USD must be informed to the Bank of Thailand. A transfer of more than 2,000,000 baht must be informed to the Anti-Money-Laundering Office.

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