Frequently Asked Questions

FAQ

Can a foreigner rent an apartment in South Korea?

Renting in South Korea as a Foreigner

If you do not know the language you might struggle to find anything good and if you do, you will have trouble contacting or negotiating with your potential landlord. Another problem that is very common in South Korea is misleading ads.

How much is rent per month in South Korea?

In February 2021, the average monthly rent for one-bedroom flats in Seoul, South Korea, amounted to around 510,000 South Korean won, up from about 480,000 South Korean won in the previous month.

Can I stay in South Korea for a month?

Tourist Visa Policy for South Korea

According to the traveler's nationality, the length of visa-free tourism stays is 30 days to 6 months. No matter how long a visitor intends to stay in South Korea, they will need to have a South Korea ETA approved from September 2021.

Is 2 million won enough to live in Korea?

So is 2 million won enough? Definitely. You can probably even save quite a bit if you live frugally and manage your income well, but I would also add that it probably depends a bit on where you live.

How much deposit do I need to buy a house in Thailand?

The moment you choose to purchase property in Thailand, take note of the deposit terms and conditions. Most developers will require you to pay a 10-15% downpayment as deposits. This is to ensure the property is reserved under your name as the whole real estate process unfolds.

Can a US citizen own real estate in Thailand?

Can Americans buy property in Thailand? While U.S. citizens are prohibited from buying land in Thailand, they can, however, apply for long term land leases of up to 30 years and build structures upon the land. They can also buy condominiums from property developers.

Can you buy property in Korea as a foreigner?

If you are a foreigner who wants to invest in a property in Korea, the good news is that you can! Buying a house in Korea as a foreigner is certainly possible. There are no restrictions on whether you intend to buy a residential or commercial property.

Can a foreigner buy land in Korea?

Foreigner's Land Acquisition Act (FLAA)

Foreigners can acquire land in Korea by making a report, with the exception of land subject to prior permission. - Information on whether the land is subject to report or permission can be obtained from the Land Registration Divisions of the relevant Si/Gun/Gu offices.

Is it worth buying property in Korea?

In South Korea, the average GDP per capita has changed by 8.3% over the last 5 years. It's a good performance. This means that, if you purchase a modern apartment in Seoul and rent it out, you will find that each year, you'll attract more tenants with sufficient funds to cover the rent.

How much is a house in South Korea in US dollars?

The average sale price of a home in the greater Seoul area shot up from 341 million won ($274,000) in May 2017, when Moon was inaugurated, to 626 million won ($503,000) as of March 2022, according to the Korea Real Estate Board.

Can I live in South Korea as a US citizen?

Anyone wishing to move to South Korea and stay for a period longer than three months (90 days) needs a visa to move to South Korea.

How does real estate work in Thailand?

The most common option is to set up your own Thai Limited Company to own the land on your behalf. Another option is to enter into a long term leasehold with the Landowner. It is a commonly unknown fact that although a foreigner cannot own land in Thailand, he can own the house or structure built thereon.

Can US citizens buy property in Thailand?

To answer that question, plain and simple, it IS legally possible for foreigners to buy property in Thailand. Foreigners are allowed to own property with some restrictions. Foreigners are allowed to own condos but are prohibited from entirely owning land (such as villas or townhouses).

Is Thailand good for real estate?

Thailand offers a number of advantages, such as a strategic location, low cost of living, attractive tax incentives, low property prices, and great infrastructure.

How much is an average house in Thailand?

– Buyers can pay for real estate in Thailand using their bank account with US dollar to Thai baht bank conversion or through cryptocurrency. – The average cost of a house in selected cities in Thailand ranges from $100,000 to $500,000, depending on the location and type of property.

Do you pay property taxes in Thailand?

Thailand Property Taxes

1% of the appraised value or registered sale value of the property (whichever is higher and if the seller is a company). If the seller is an individual, withholding tax is calculated at a progressive rate based on the appraisal value of the property.

Can foreigners invest in Thailand real estate?

Foreigners are allowed to own condos but are prohibited from entirely owning land (such as villas or townhouses). Foreigners can follow these three rules on property ownership in Thailand: Foreigners can own condos. Foreigners can't own land in Thailand entirely.

How to invest in Thailand for foreigners?

Steps for Obtaining a Thai Investment Visa

1. Get a Non-Immigrant Visa.
2. Extend Your Visa.
3. International Transfer.
4. Buy a Condominium.
5. Have a Fixed Balance in a Thai Bank Account.
6. Hold Government Bonds or State Enterprise Bonds.
7. Have Diverse Investments.

What loopholes do real estate developers use trump

Can Americans invest in Thailand?	Business Visas Foreigners who wish to work, conduct business or undertake investment activities in Thailand must apply for a Non-Immigrant Visa at the Royal Thai Embassies or Royal Thai Consulates-General.
What is the largest real estate company in Thailand?	The Pruksa Real Estate Plc is the largest real estate company in Thailand. It is listed in Thailand's Stock Exchange. During the past 28 years, it has develops 654 projects with a total units of 230,112 valued at USD 14.797 billion. However, its average price is only USD 64,299.
Who can own property in Thailand?	Thai nationals Land ownership in Thailand is governed by the Land Code Act and under Thai land laws only Thai nationals are allowed to own land or have a confirmed right of possession of land. Foreigners may not own land unless there is a treaty or exemption allowing the foreigner to own land in Thailand (section 86).
Who are the main investors in Thailand?	Japan, the United States and Singapore account for the bulk of inward FDI stocks, while FDI inflows from other countries, including China, have become more important. Singapore is by far the main investor from ASEAN, accounting for 80% of total FDI stocks from the region.
What is the valuation of a partner contributes property to the partnership?	Property – a partner may also contribute properties like land, building, office equipment, furniture and fixtures, etc. These contributions are valued at their fair market values, on the date of contribution.
What is the basis of contribution of property to partnership?	§ 1.722-1 Basis of contributing partner's interest. The basis to a partner of a partnership interest acquired by a contribution of property, including money, to the partnership shall be the amount of money contributed plus the adjusted basis at the time of contribution of any property contributed.
What is the basis of contributed property to an LLC?	Accordingly, the initial basis of a membership interest in an LLC is the amount of cash contributed plus the member's adjusted basis in any other property contributed by the member in exchange for the membership interest (see Explanation: §722).
What is the 80% rule for partnership?	This is what I term, the 80% rule: 80% of ad hoc unstructured business partnerships and strategic alliances fail, while contrariwise, 80% of the companies that follow a structured approach establish prosperous business partnerships and strategic alliances.
Is Bangkok real estate a good investment?	Bangkok is a desirable investment choice for those looking for a successful venture due to its high rental yields. Don't just take our word for it. According to data from real estate research companies, Bangkok's rental yields have consistently been higher than those in other cities in the region in recent years.
Is Thailand a good place to invest in real estate?	One of the major benefits of investing in property in Thailand is the low cost of living. The cost of living in Thailand is approximately 30% lower than the cost of living in the United States, making it an attractive option for investors.
Can a foreigner buy a condo in Bangkok?	Legal property ownership in Thailand Freehold – Foreigners can hold a freehold title in their own name. The Thai Land Office issues a title deed similar to a strata title and freehold property can be used as collateral in Thailand. Condominiums are the only form of property a foreigner can own as a freehold.
Can a foreigner own property in Thailand?	Foreigners are under the Land Code Act prohibited from owning land in Thailand therefore making it impossible for foreigners to obtain outright ownership over land and house in Thailand. Foreigners are allowed to own a unit in a condominium building under the Condominium Act.
Where do millionaires live in Bangkok?	Chidlom, Langsuan, Ratchadamri, and Sala Daeng are the top 4 areas chosen by Thai Billionaires to build these majestic and luxurious residential castles, and while many of these billionaires have multiple properties in these areas, some will be used solely for investment purposes with the expectation that property
What is the basis of property transferred to a partnership?	The basis to a partner of a partnership interest acquired by a contribution of property, including money, to the partnership shall be the amount of money contributed plus the adjusted basis at the time of contribution of any property contributed.
Can a partner sell property to a partnership?	Under the statute, if there is a direct or indirect transfer of money or other property by a partner to a partnership, and there is a related direct or indirect transfer of money or other property by the partnership to such partner (or another partner), and the transfers, when viewed together, are properly
What is contributing encumbered property to a partnership?	Contribution of Encumbered Property Thus, the contributing partner is simultaneously relieved of her personal liability on the loan, and as a partner becomes responsible for a share of all of the partnership's liabilities, including the liability encumbering the contributed property.
Are partnerships easy to transfer?	Transferring Interest According to state laws, partnership interests are free to transfer, so the only way a partner might run into difficulties is if there are restrictions in the partnership agreement.
Who owns the assets in a partnership?	Partners Without a formal agreement stating otherwise, the assets of the partnership belong equally to all partners. If one partner works three day weeks and the other six day weeks, the profit from the harder working partner is shared with the other equally.

• What is the best property website for Thailand?

  • Most Visited Real Estate Websites in Thailand

    Rank	Website	Rank Change
    1	ddproperty.com	=
    2	sansiri.com	=
    3	apthai.com	3
    4	thaihometown.com	1

• Where is the best place to buy property in Thailand?
  • Best Places to Buy Property in Thailand?
    • Usually the most popular cities and provinces for foreign homebuyers and investors to buy real estate in Thailand are as follows:
    • Let's explore and review the most popular places to buy property!
    • Bangkok.
    • Phuket.
    • Pattaya.
    • Chiang Mai.
    • Hua Hin.
    • Koh Samui.
• How to buy property in Thailand by foreigners?

  • The most common option is to set up your own Thai Limited Company to own the land on your behalf. Another option is to enter into a long term leasehold with the Landowner. It is a commonly unknown fact that although a foreigner cannot own land in Thailand, he can own the house or structure built thereon.

• Are house prices falling in Thailand?

  • Despite high expectations for a recovery in 2022, the real estate prices have been declining since Q4 2019. According to the latest DDproperty Thailand Property Market Index – Powered by PropertyGuru DataSense, the Price Index in Bangkok saw a 1% quarter-on-quarter increase, reaching 82 points.

• Is it a good time to buy property in Thailand?
  • New incentives for foreign Visas and Tax advantages on property purchased as well as Thailand being an upcoming country to buy will be favourable to many. Overall, property prices are forecasted to remain the same in 2022 compared to previous years and this is good news for new buyers.

• What is the accounting treatment for preferred return?

  • Economic accruals of preferred return are guaranteed payments as of the time of accrual. treated as distributive share rather than a guaranteed payment with any excess of accrued preferred return over gross income in the year of accrual treated as a guaranteed payment in the year of the accrual.

• Where do I report a Section 897 capital gain?

  • Both the form and instructions will be updated as needed. For the most recent version, go to IRS.gov/Form1099DIV. Section 897 gain. RICs and REITs should report any section 897 gains on the sale of United States real property interests (USRPI) in box 2e and box 2f.

• How is a preferred return taxed?
  • Dividends on preferred shares are taxable income, but the tax rate you pay depends on whether the IRS considers the dividends to be "qualified." Qualified dividends are taxed at lower rates than ordinary income. As of 2023, the tax rate ranges from 0 % to 20% depending on your tax bracket.

• Are real estate distributions taxable?
  • NON-TAXABLE DISTRIBUTIONS.

    During the time an investor may hold a real estate investment, you may receive cash distributions in excess of the income that is allocated to you. This may occur because cash flow from the property is in excess of taxable income. The cash distributions are not taxable to you.

• What is a preferred return distribution?

  • What is a preferred return? A preferred return is a profit distribution preference whereby profits, either from operations, sale, or refinance, are distributed to one class of equity before another until a certain rate of return on the initial investment is reached.

• What is key money in Korean apartment?

  • Jeonse involves the tenant giving the landlord a large sum of "key money" when a lease is signed. The amount of money required depends on the economy and the location of the property. Usually, the amount required is 50% of the property's value but can be as high as 60-80%.

• How much money required to buy a house in South Korea?

  • The average price of apartments amounted to around 1.27 billion South Korean won, while the price of detached and row houses were about 962.7 and 347 million South Korean won, respectively.

• How much is an apartment in South Korea in won?

  • In September 2022, the average purchase price for apartments over 135 square meters in South Korea amounted to around six million South Korean won per square meter. The overall average apartment purchase price in South Korea stood at about 3.79 million South Korean won per square meter.

• How does key money work in Korea?

  • In South Korea, the key money system (as opposed to monthly rent or wolse) requires the lessee to make a deposit of about one-third to two-thirds the total cost of the leased property in lieu of monthly payment. The key money is returned when the lease expires.

• How do you report gains from sale of partnership?

  • ‒ Review Schedule D, Form 8949 and Form 4797 to determine the amount of gain or loss the partner reported on the sale of the partnership interest. After determining a partner sold its interest in the partnership, establish other relevant facts that can impact the tax treatment of this transaction.

• Does a partnership recognize gain on distribution of property?
  • A partner who contributes property to a partnership may have to recognize gain or loss if the contributed property is distributed by the partnership to another partner within seven years ( Code Sec. 704(c)).

• How are capital gains from a partnership taxed?

  • How partnerships are taxed. As is the case with a sole proprietorship, a partnership is considered a pass-through entity for tax purposes. In other words, the partnership itself is not taxed, but each partner is responsible for reporting their own profits and losses from the business on their individual tax returns.