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Can foreigners rent out their properties in Phuket, and if so, are there any restrictions

Posted by stonepinecompany on January 24, 2025
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Yes, foreigners can rent out their properties in Phuket, but there are significant restrictions and legal considerations to be aware of:

Short-term Rentals

  • Renting out properties for less than 30 days is illegal without a hotel license.
  • Short-term rentals through platforms like Airbnb are technically not legal in Thailand.

Long-term Rentals

  • Foreigners can rent out their properties for periods of 30 days or longer.
  • Each condominium complex has its own bylaws, which may restrict rental activities.

Legal Requirements

  • Owners must inform immigration when foreign clients arrive (TM30 form).
  • Rental income must be declared and taxed.
  • Commercial rentals may invoke additional laws such as the Foreign Business Act or Foreign Employment Act.

Restrictions for Condo Owners

  • Renting out condos as a regular practice can be seen as a commercial activity, which is forbidden by the Thailand Condominium Act.
  • Some condo complexes have strict bylaws limiting rentals to a few months per year.

Taxation

  • Rental income is subject to personal income tax based on the owner’s tax bracket.
  • If renting for commercial purposes, additional Housing and Land Tax may apply.

It’s crucial for foreign property owners in Phuket to consult with legal experts and property management companies to ensure compliance with all local laws and regulations when renting out their properties.

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