Like almost all foreign countries, Thailand prohibits nonnatives to acquire land in Koh Samui – the second largest island – however, they do allow them to purchase buildings, apartments, as well as structures on a property under their own name. Hence, if you’re thinking about buying an estate in Koh Samui, there are some things that you could do, and luckily for you, the article below will shed some light on the entire topic, so, let’s take a look:
You can purchase an estate with a limited business registered in Thailand
One of the first – and perhaps easiest – options out there is for you to set up a Thai limited firm with all the articles of association within the organization shielding you, something that will give the foreign manager full authorization of the business. Once you do this, you could utilize the company for purchasing an estate in Koh Samui, no matter if it is a home, piece of land, apartment, or villa.
There is a wide range of estate owners that choose to put their land or villas for sale in Koh Samui, and you could choose to register a Thai firm by transferring the title of the foreign manager or if you cannot do this, you could opt for hiring an international or Thai attorney that will help you set a new firm. Once you do this, you’ll be capable of purchasing a property through it.
Obtain a property by signing a leasehold
If the first option isn’t suitable for you, you could choose to sign a leasehold for the property you want to obtain. What does this mean for you? Well, it means that you could buy an estate on this island by controlling the and where a residence, building, villa, or condo is located by signing a 30-year lease. This is the highest leasehold period that Thai law has set, so, if you’re serious about owning a property in Thailand, you could opt for this option.
Purchasing a condominium freehold
Last on our list, but also an option is that you could choose the freehold option. This condominium option will allow you to purchase a freehold, however, you should know, the condominium development has to make sure that only 49 percent of the entire property development is sold to owners freehold. The other percentage in the development is offered to nonnatives to obtain, but again, you’ll have to obtain one of the two options from above. No matter which option you choose, it’ll be formally registered a the local land office.
Although it might be a little bit complex and daunting for you to obtain a property, house, villa, or piece of land in Koh Samui, Thailand, it is entirely possible. So, now that you know what you could do, you might not want to waste any more of your time. Instead, you should go through our article one more time, determine what approach is the most suitable for you, and then achieve your dream of owning a property in the wonderful Koh Samui.