This article brings you news about Land and Condo Registration Fee. Following successful reform by the past, on January 18, 2022, the Government Gazette website published the Ministry of Interior’s announcement on Collection of fees for registration of rights and juristic acts under the Land Code .
Effective from 18 January to 31 December 2022, the reform covering second-hand homes /debt restructuring in addition to new homes as detached houses, semi-detached houses, row houses, commercial buildings, and condominium units, to stimulate the real estate business for another year.
According to the rules prescribed by the Cabinet, reduced for the registration of a sale and mortgage of immovable property the transfer fee and legal act from 2% to 0.01%, mortgage fee from 1% to 0.01%
In order to qualify for the reduced rates, the sale and mortgage must be registered at the same time, by a Thai natural person, and the sale price and mortgage amount must not exceed THB 3 million.
Let’s hope that the government will extend these registration fee reduction rules to an asset with higher value and to foreigners and/or juristic persons. Don’t hesitate to contact us for more information or simply to assist you during the procedure concerned. If you are in need of a real estate lawyer or for more information feel free to contract us at any time.