The relevant details of the three regulations providing for these temporary fee reductions are as follows:
1. Unregulated Land and Buildings
Ministry of Interior Regulation Regarding Registration Fee under the Land Code for Housing (published in the Royal Gazette on 28 October 2015)
To boost the sale and purchase of immovable property in Thailand, the Cabinet resolved on 13 October 2015 to set a reduced registration fee under the Land Code for the transfer and mortgage of housing property, as follows:
Clause 1: The registration fee for the transfer of residential property — detached houses, twin houses, row houses, and commercial buildings, together with any of these buildings and the land on which they sit, where that land is not under the Land Allocation Act or any government development project — and for the mortgage of such transferred property, is set at a rate of 0.01%.
Clause 2: This regulation is effective from 29 October 2015 to 28 April 2016.
Note: The 0.01% rate applies to:
- Transfer of any of these buildings;
- Transfer of any of these buildings together with land that is not under the Land Allocation Act or a government land development project;
- Mortgage of any of the above (for example, if Mr. A receives a house by gift or inheritance and then mortgages it, he will not qualify for this reduced rate);
- It does not apply to raw land (i.e., land not within a licensed development);
- It does not apply to land that is not the location of the building itself, even if that extra land is transferred (and mortgaged) at the same time as the house and its land.
2. Land and Buildings Within a Licensed Development
Ministry of Interior Regulation Regarding Registration Fee under the Land Code for Immovable Property Licensed under the Land Allocation Act (published in the Royal Gazette on 28 October 2015)
To boost the sale and purchase of immovable property in Thailand, the Cabinet resolved on 13 October 2015 to set a reduced registration fee under the Land Code for the transfer and mortgage of immovable property located within a licensed development under the Land Allocation Act, as follows:
Clause 1: The registration fee for the transfer of land, or land together with a residential building (detached house, twin house, row house, or commercial building), under the Land Allocation Act or any government development project, and for the mortgage of such transferred property, is set at a rate of 0.01%.
Clause 2: This regulation is effective from 29 October 2015 to 28 April 2016.
Note: The 0.01% rate applies to:
- Transfer of land only, or land together with any of these buildings, within a licensed development project or government development project;
- Mortgage of any of the above (for example, if Mr. A receives developed raw land by gift or inheritance and then mortgages it, he will not qualify for this reduced rate);
- Both first-hand sales and resale transactions.
3. Condominiums
Ministry of Interior Regulation Regarding Registration Fee under the Condominium Act (published in the Royal Gazette on 28 October 2015)
To boost the sale and purchase of immovable property in Thailand, the Cabinet resolved on 13 October 2015 to set a reduced registration fee under the Land Code for the transfer and mortgage of condominium units under the Condominium Act, as follows:
Clause 1: The registration fee for the transfer of the following condominium units under the Condominium Act, and the mortgage of such transferred units, is set at a rate of 0.01%:
(1) Transfer, and mortgage, of all units at once in any licensed condominium under the Condominium Act; and
(2) Transfer, and mortgage, of any individual condominium unit in any licensed condominium under the Condominium Act.
Clause 2: This regulation is effective from 29 October 2015 to 28 April 2016.
Note: The 0.01% rate applies to:
- Transfer of the whole condominium building or an individual unit;
- Mortgage of the above (for example, if Mr. A receives a condominium unit by gift or inheritance and then mortgages it, he will not qualify for this reduced rate);
- Both first-hand sales and resale transactions.