Integrity Legal - Law Firm in Bangkok | Bangkok Lawyer | Legal Services Thailand Back to
Integrity Legal

Legal Services & Resources 

Up to date legal information pertaining to Thai, American, & International Law.

Contact us: +66 2-266 3698

ResourcesCorporate and Tax AdvisoryUS Tax LawAre There US Tax Implications When Buying a Thai Condo?

Are There US Tax Implications When Buying a Thai Condo?

Transcript of the above video:

As the title of this video suggests, we are discussing Thai Condominiums. We are discussing it specifically in the context of US tax, so we are talking about possible tax implications in the United States. Those who are unaware, Americans are subject to taxation worldwide on their worldwide income and the thrust of this video is discussing condos and US tax implications.

I am not going to get real deep into this but depending on circumstances, there may be some tax implications in an American context.  As a general matter, people oftentimes ask me about this in the context of when they are looking to buy a condo in Thailand. I generally say look that it is not a major concern you should have.

It is definitely a good question worth asking. You should look at the various implications of owning a condo in Thailand. It will depend on how you own it. Do you want it through a company? Are you looking to own it with a mortgage? Is there any leasing situation? Is there any sort of a passive income coming through that condo as a result of ownership? You may have a tenant in there. There are various things to think of but long story short there is not a substantial number of tax implications associated with owning a Thai Condo but there could be so it is a good idea to have a tax professional, somebody who is licensed to deal with Tax matters in the United States, to have a look at that and have a look at your circumstances, have a look at your case in order to provide some insight and guidance because although I don't think it should be a major concern, it shouldn't in my opinion be something that would be a deal killer to buy a condo by any stretch. There could be implications depending on your circumstances, so it is a good idea to probably get some advice about that before making any final decisions regarding purchase of a condo here in Thailand.