Rentals & investment
How to Sell a Condo in Thailand and Take the Money Out
You can sell a condo in Thailand as easily as you bought it, and take the money out of the country. We explain how a sale works, what taxes the seller pays and which documents to keep from the day you buy.
In short
- The seller usually pays 3.3% SBT (if owned for under 5 years) or 0.5% stamp duty, plus withholding tax.
- A foreign buyer can register the unit in their own name only if it is in the Foreign Quota.
- To send the money abroad, the bank will need the contract, the Land Office document and proof of how the money arrived when you bought.
Who you can sell to
You can sell your condo to any buyer: a foreigner or a Thai citizen. If the unit is in the Foreign Quota and a foreigner buys it, it stays in the foreign quota. If the buyer is Thai, the unit moves into the Thai part of the building, and quota space in the building opens up.
How a sale works
- Pricing
We look at what similar units in this and neighboring buildings actually sell for, not what they are listed at.
- Preparing the unit
Cleaning, minor repairs, photos and video. A unit with a tenant sells to an investor; an empty, well-presented one suits buyers who want to live in it.
- Documents
The title deed (Or.Chor.2), your passport, a certificate from the juristic person confirming no outstanding debts, and the records of your money transfer at purchase.
- Buyer and contract
Deposit, sale and purchase agreement, registration date and the split of costs.
- Registration at the Land Office
Transfer of ownership, payment of taxes, receipt of the money.
- Transferring the money
Sending the proceeds abroad through the bank.
Seller taxes
| Tax | When | Rate |
|---|---|---|
| Specific Business Tax | Sale within 5 years of purchase | 3.3% of the higher of price and appraisal |
| Stamp duty | If no SBT is charged | 0.5% of the higher of price and appraisal |
| Withholding tax, individual | Always | Progressive scale on the appraisal, with a deduction based on years owned |
| Withholding tax, company | Always | 1% of the higher of price and appraisal |
| Transfer fee | Always | 2% of the appraisal, split by agreement |
Withholding tax for a private seller is deducted by the Land Office at registration. It is calculated from the appraised value, and the expense deduction depends on how many years you have owned the unit. More on each payment in the article Taxes and fees when buying a condo.
Taking the money abroad
The Bank of Thailand allows non-residents to repatriate invested funds without restriction. In practice, when you transfer the proceeds abroad, the bank asks for: - the sale and purchase agreement; - the Land Office document registering the sale; - records of how the money came into Thailand when you bought the unit.
How long it takes
A completed unit with clear documents can sell within a few weeks if the price is at market level. Units with a good view, close to the sea and in popular buildings sell faster. That is why it is worth thinking about a future sale when you buy.
We can help you sell
Avalon also works in the resale market: we will value your condo, prepare the listing, show it to buyers and handle the deal through to registration. See which condos are on the market now in the resale section.
FAQ
Can you take the money out after selling a condo?
Yes. The Bank of Thailand allows non-residents to repatriate invested funds without restriction. The bank will ask for the contract, the Land Office document and proof of how the money arrived when you bought.
What taxes does the seller pay?
3.3% SBT if owned for under 5 years, otherwise 0.5% stamp duty, plus withholding tax. The 2% transfer fee is split by agreement.
Can you sell a condo before the building is completed?
Yes, by assigning your contract with the developer. The terms and the assignment fee are set out in your contract.
Sources
- Revenue Department: Specific Business Tax on sales within 5 years
- Revenue Department: withholding tax on property sales
- Revenue Department: stamp duty
- Bank of Thailand: exchange control, repatriation of funds
This article is for general information and is not legal or tax advice. Laws, fees and project terms change: before a deal we check the current conditions for the specific property.
