Why are Samui, Phuket, Krabi and Pattaya good investment locations right now?
These islands are good for investment because they have increasing infrastructure: airports, new hotels, resorts and an abundance of leisure activities. They are going through a transition from new destination and backpacker resort to high quality tourist, permanent residence and holiday home location.
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Developers selected these islands as locations after much research. They aim to offer projects of high quality, beautiful beaches and great views in a up and coming locations to maximize their client's investment.
How is the land registered?
In Thailand there are three primary kinds of land titles.
- Chanot is a plot that is GPS plotted and marked with numbers against the National Survey Grid and has an exact unquestionable boundary.
- Nor Sor Sam Gor is a plot that is cross-referenced to master survey of the area. This can be marked out but until it has gone through the process to become Chanot is not exact.
- Nor Sor Sam is measured only in relation to its neighbouring plots so is obviously less accurate than the above two.
Investors into Thailand should insist that all villa plots will be sold with Chanot land title.
How do I transfer funds to Thailand to achieve the best exchange rate?
When transferring funds it is always advisable to transfer in your own currency and convert to Baht in Thailand . Your lawyer will advise and assist you with obtaining a Currency Exchange Certificate which is a document that allows this transaction to take place void of any taxation (usually 15%). This certificate means you can take your money back out of Thailand at any time too.
Is it possible to own a Thai property on freehold basis?
It is possible to own land on a freehold or leasehold basis. The only way you can own a Thai property on a freehold basis is to set up a company structure. A trusted lawyer will be setting this up for all Claire's clients who purchase Villa plots.
Will I be liable to capital gains/inheritance tax on my investment?
If you have a company structure you will not be liable to capital gains or inheritance tax. If your property is leasehold you are liable to capital gains TAX. Capital gains tax starts at 25 percent and rises depending on the level of gain.
What fees will I incur in the initial purchase process?
Legal costs range from £500 - £2000 depending on what the developer in prepared to pay for, and what costs the client will then have to bear. The average is £1250 and this normally covers every aspect of the purchase.
What would be my annual running costs?
Your annual running costs of the company structure are £300-500 per year approximately. This is a saving against capital gains tax so well worth it.
The community management fees for projects vary, but as a guide you can expect to be paying around £150 per month, this should cover services such as cleaning, security, gardening, refuse collection etc.
How does the management/rental work?
Most developers create a comprehensive management company to oversee and manage the resort. The company should take care of all rental, site management and security, guest relations and customer service. There should always be a separate management guide and agreement.
Calculate your income on a 10% yield. This is the lower side of average.
What are the immigration and visa restrictions?
Temporary visiting visas of 1 month are granted to most nationalities on arrival in Thailand . Foreigners can also apply for 1-year multi entry non-immigrant visas. On completion of three years consecutive non-immigration status foreigners can be eligible to apply for permanent residency.
Can I work in Thailand ?
Residents can apply for a work visa and there are many agencies and law firms that specialize in assisting foreigners through this process.
Are there good hospitals and medical care?
Thailand has world-class hospitals in Bangkok such as Bumrungrad and many others in Phuket, Samui and across the Kingdom providing 24-hour service. They are staffed with English speaking doctors, nurses and technicians. The costs of treatment are very competitive with many foreigners now flying in to Thailand for procedures from all over the region.
How do I apply for a driving license?
Foreigners with residency visa's can apply for local Thai driving licenses at the local ministry of transport office. A full overseas driving license, identification and a small fee are required. There are agencies and law firms that can provide this service.
Can I purchase a vehicle?
Yes, Thailand has sophisticated vehicle sales, leasing and servicing industry. There is a competitive rental and sales environment with financing available from many dealers and distributors, a buoyant second hand market also provides cost effective options.
Can I import my vehicle into Thailand ?
Yes, importing of vehicles from overseas into Thailand is possible. An import certificate is required, this is a specialist task and your relocation/move company can assist you with this.
Are there International Schools?
Thailand has many well-established international schools and colleges all over the kingdom such as Dulwich International College in Phuket, Harrow International School , St Johns International School and University, St Andrews International School Rayong, Bangkok Pattana etc.
How do I manage local services and utilities?
Your developer should be providing services under the management company and should be able to assist you with provision of cable TV, Internet and Telephone services.
Also, for general information:
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