Can I rent out a condo I purchased while on a DTV Visa in Thailand?

DTV Visa Condo Rental Thailand Visa Regulations Taxation on Rental Income Banking in Thailand Foreign Ownership of Property

Oct 13, 2024

2 months ago

Anonymous *************

ORIGINAL POSTER

Can we rent a condo we bought  with a DTV Visa?

Bc what I'd earn from it has to be taxed and transferred on thai bank account  🤷🏼‍♂️

812

views

likes

all likes

replies

images

users

TLDR : Answer Summary

Yes, you can rent out a condo you purchased while on a DTV Visa. However, any income earned will be subject to taxation in Thailand, and you will need to transfer the rental income to a Thai bank account. As noted in the conversation, you can open a bank account in Thailand, albeit with a small fee. It's important to be aware of the legalities around foreign ownership and rental agreements as well.

DTV VISA RESOURCES / SERVICES

Take the basic DTV Qualification Test to see if you're eligible for the Destination Thailand Visa (DTV).
For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
Explore recent discussions by using the DTV Visa tag in the search box at the top of the page.
Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.

Peter ******

How can you buy a condo with a visa ? Why would you want to rent a condo that you've already bought ?

2 months ago

Nick ************

@Peter *****

two very good questions.

2 months ago

Reply to

Nick ************

Kieran *******

Bangkok bank can open you an account with a small *fee*

2 months ago

Oleg *************

You can rent condo in any visa and you must pay taxes here.

2 months ago

Christopher *************

@Oleg ************

you pay taxes if you're in Thailand for more than six months a year. That has nothing to do with renting an apartment

2 months ago

Sefton ********

@Christopher ************

incorrect.. Your talking about non Thai sourced income. Rental income is domestic source income and hence is taxed here.

It may be below the tax threshold but it is still thai taxable.

2 months ago

Christopher *************

@Sefton *******

ah, the question mentions getting income from it, ok. Then the person meant renting it out to someone. If you buy and sell it and earn money, they would also have to pay something like capital gains tax (transfer tax or whatever it's called). Ok, I understand now.

2 months ago

Christopher *************

@Sefton *******

but the original question was renting a condo, not renting it OUT (i.e. letting it to someone). That's my interpretation of the question anyway. Of course if you earn income from it, you'd have to pay local taxes. That's clear.

2 months ago

Sefton ********

@Christopher ************

ahhh I read it as renting it out.. Which is taxable..

To pay to rent a condo the rent isnt specially taxed but ALL money imported to thailand in a year you are tax resident is potentially admissable income. Admissable doesnt mean liable but potentially liable.

2 months ago

Christopher *************

@Sefton *******

yes 👍 but honestly, Thai tax authorities are unlikely to find out about anything unless someone volunteers that information. But it's not a good idea to hide it in the long run. They might use it against them in the future should they ever find out.

2 months ago

Reply to

Christopher *************

Oleg *************

@Christopher ************

if you get income you must pay taxes regardless to how long you are here

2 months ago

Reply to

Oleg *************

Is the DTV visa suitable for managing a condo rental income without a formal employment contract?

3 comments

2 months ago