Purchasing real estate in Koh Samui is easy. Similar to the other regions in Thailand, there are three major options available for foreign prospective buyers in the area:
30-year Renewable Lease
This allows a foreign national to own land in Thailand through a registered leasehold. Guaranteed under Thai law, it’s renewable with options written into the original lease contract and registered with the Land Office.
50-year Non-Renewable Lease
This is a 50-year lease, guaranteed under Thai law.
Even though under Thai law a foreign national can’t own a freehold property, there are proven and effective methods recommended by real estate firms, like Overseas Property Portfolio. With these methods, a foreign investor can own and control a Thai company owning the property.
For instance, a foreigner can own 49 percent of a company’s shares, called preferential shares, which are worth 10 votes per share. Up to six Thai nationals may own the remaining 51 percent, but as these are only ordinary shares, they equate only to one vote per share.
With their shares, the foreign shareholder can appoint themselves as the legal and sole director of the company. As a result, the foreign national’s investment remains safe, while allowing them full control over the company and its assets, including the freehold property.
If you’re a foreigner planning to own property in Koh Samui, consider these solutions. Governed by Thai law, you’re sure to gain a house and land legally and easily with these options.