# gift tax / accessions tax



## Camber (Mar 12, 2010)

Good evening Thai friends

I'am 70 years old and would like to spend my retirement in Thailand. I have a Thai woman as my friend who I know more than 10 years already but we are not married. Until now we stayed together every year for about 4 to 6 months spending our time in hotels and guesthouses.

Now I decided to buy a studio/condo on a nice place. For that reason I like to transfer 3 million Bath to the saving account of my friend. I want her to look out for a conveniant real estate. The money respectively the property will belong to her and should be registered in her name. 

Is there any tax due that she must pay to the government after I transfered the money to her saving account ?

Thank you very much for your assistance.

Franz


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## Guest (Mar 12, 2010)

Hi Franz, welcome to ExpatForum.

Firstly, have you looked at the alternative options - buying a property through a Thai company in which you have 49% ownership? Or buying a condo in your own name?

The extra security is something for which many expats have been thankful over the years. Relationships go wrong, and no matter how certain some have been of the strength of their partnership, more than a few have been forced out of the homes they have paid for.

Not long ago the government announced that it was cracking down on foreign purchases of property though Thai proxies, and mentioned wives/girlfriends in particular. They were probably targeting foreign property developers rather than the guy buying a condo with his gf, but still, it's something that needs to be checked out. I know of no taxes payable.

Just to repeat, I've heard some real horror stories about guys handing over large sums to gfs, trusting them to do as they've promised. I hope you know what you are doing!


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## KhwaamLap (Feb 29, 2008)

There are some taxes, but they are quite low - there are two for a house I believe something around 3% or so in total. Not sure for a condo as there is no land ownership to go along with it.

As FB said, think about a condo as you can own that in your own name (there are a few rules, but not a worry). 

You can open a bank account here and transfer the money into your own account. When buying a house etc, you can then transfer the money direct to their bank account. Leave a paper trawl and protects you more than dumping into someone else's account.


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## Camber (Mar 12, 2010)

*gift tax / accession tax*



frogblogger said:


> Hi Franz, welcome to ExpatForum.
> 
> Firstly, have you looked at the alternative options - buying a property through a Thai company in which you have 49% ownership? Or buying a condo in your own name?
> 
> ...


I think you are right. I decided to put the money first to my own saving account in Thailand. I still can assign the condo to my gf by will which can be revocated "if necessary". I was asking about a gift tax, because such tax is due here in Switzerland if you make a gift to somebody more than CHF 5000 and outside your family. 

Thank you very much for your answer what gives me pause.

Best regards Franz


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