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The guide for your real estate purchase in Koh Samui – Thailand !

Here Doc­tor Pro­per­ty pre­sents all the impor­tant infor­ma­tion that you should consi­der when buying a pro­per­ty in Thai­land. Howe­ver, this infor­ma­tion applies only to non-Thai natio­nals. We would also like to invite you to visit our blog regu­lar­ly. There we report about changes and new inter­es­ting real estate pro­jects.

Basic considerations before you buy a property in Koh Samui – Thailand !

A pur­chase deci­sion for a pro­per­ty should always be well consi­de­red. Here, it is par­ti­cu­lar­ly impor­tant to inform your­self in advance about the cur­rent legal situa­tion and to seek legal advice. Doc­tor Pro­per­ty recom­mends you some good law firms if you wish. Of course, we will always be avai­lable to advise you. For this topic you should take some time and unders­tand eve­ry­thing before you buy a pro­per­ty in Thai­land. Here in Thai­land, the pro­ce­dure is cer­tain­ly some­thing dif­ferent than what you know, for example, from your home coun­try. Like­wise, the same rules apply here for real estate acqui­si­tion, as elsew­here. Is the loca­tion of the pro­per­ty good ? Do you have a repu­table estate agent ? How expen­sive may the new pro­per­ty be ? Do I need a finan­cing ? Do I want to use this pro­per­ty myself, or rent it com­mer­cial­ly ?

If you have a clear ans­wer to all these ques­tions, Doc­tor Pro­per­ty would like to help you find the right pro­per­ty. We see our­selves as an inde­pendent real estate agent and are very fami­liar with the pecu­lia­ri­ties of the mar­ket on Koh Samui. We can com­pe­tent­ly assist you in the loca­tion as well as in the valua­tion of the pro­per­ty.

Is financing through a Thai bank possible ?

Many inter­es­ted people are thin­king of buying a pro­per­ty in Thai­land, espe­cial­ly in Koh Samui. In recent years, the inter­est rate poli­cy of the banks was very friend­ly, almost invi­ting to a pos­sible real estate loan. Many pro­per­ties have even been ful­ly finan­ced in their home coun­tries. From this consi­de­ra­tion, the idea grows to finance a pro­per­ty in Thai­land well and chea­ply. Unfor­tu­na­te­ly, in 95% of cases, this game of thought does not work in Thai­land. Fun­ding through a Thai bank is almost impos­sible for a non-Thai citi­zen. In very few cases, cus­to­mers evade a len­ding ins­ti­tu­tion in Hong Kong. Also, there are only a few cases a chance of suc­cess, if you speak with your house bank and want to apply for a loan. Howe­ver, some small deve­lop­ment com­pa­nies offer some deve­lop­ment com­pa­nies that offer their own pro­ject with finan­cing. Some of these offers can also be found at Doc­tor Pro­per­ty. Never­the­less, you should go with the hiring of a 100% self-finan­cing to the pro­per­ty search.

Would you like to buy your property in Koh Samui – Thailand as a pure investment ?

If you play with this idea, then you should seek com­petent advice. It is impor­tant to consi­der in advance which type of pro­per­ty is best. Whe­ther it’s a vil­la, a town­house, a condo, or a condo­mi­nium. It should also be noted which pro­per­ty title this pro­per­ty car­ries. This is usual­ly very impor­tant for a resale. Also a consi­de­ra­tion of the expen­di­tures, as for example the main­te­nance expen­di­tures, secu­ri­ty and the mana­ge­ment costs are part­ly quite dif­ferent. You should also consi­der which object gene­rates high demand. Are they 3-bedroom vil­las, or just the two-bedroom apart­ment ? After all these consi­de­ra­tions, serious pro­jec­tions of returns can be made. Here too, some deve­lop­ment com­pa­nies offer gua­ran­teed returns on their own real estate. You can also find some offers here at Doc­tor Pro­per­ty.

Take some time for this and look at the ren­tal price mar­ket in Koh Samui. Take a look at the rele­vant ren­tal por­tals, such as booking.com, agoda.com, or airbnb.com and get an impres­sion of which type of pro­per­ty is in high demand and good rating. Some­times even the less consi­de­red choice is a small vil­la with its own pool.

Property types : individual property, community facilities, or apartment complexes ?

On Koh Samui you have the choice bet­ween all these dif­ferent spe­cies. You can opt for the single vil­la on a hil­l­side with a fan­tas­tic sea view, a com­mu­ni­ty of many vil­las, to an apart­ment com­plex in the city. Eve­ry type of pro­per­ty has its autho­ri­za­tion. For example, many inves­tors like the bene­fits of a com­mu­ni­ty invest­ment. This includes 24-hour secu­ri­ty, regu­la­ted main­te­nance, clea­ning and a com­pre­hen­sive ser­vice package, from boo­king to cus­to­mer care. Howe­ver, if you are loo­king for a pro­per­ty for your own use, you may pre­fer the quiet loca­tion and the grea­ter pri­va­cy of a single vil­la. Here you have to make the right choice for your­self. Doc­tor Pro­per­ty will also be plea­sed to show you dif­ferent examples so that you can make your right choice.

Deposit / Reservation of the property in Koh Samui – Thailand

If you deci­ded after all research and consi­de­ra­tions to pur­chase a pro­per­ty and have alrea­dy found the right one, then it is cus­to­ma­ry on Koh Samui and Thai­land to make a small down pay­ment on your pro­per­ty. As a rule, it is 100,000 THB for an apart­ment and 200,000 THB for a vil­la. This pay­ment is gover­ned by a pre­li­mi­na­ry contract and the pro­per­ty is taken off the mar­ket. As a result, you now have the option of arran­ging the pur­chase agree­ment toge­ther and sub­jec­ting the desi­red pro­per­ty to a risk assess­ment (due dili­gence) once again. There are usual­ly 4 to 6 weeks avai­lable. The desi­gn of the down pay­ment contract or reser­va­tion contract is indi­vi­dual. Some­times the deve­lop­ment com­pa­ny will pro­vide you with a copy, or you may even desi­gn a contract with the owner of the pro­per­ty. There are no spe­ci­fic condi­tions for this.

Perform due diligence / risk assessment of the property

Before signing the main pur­chase contract, you should ins­truct your legal repre­sen­ta­tive to review all risks.
Which includes :

  • Is there a legal right of access to your pro­per­ty ?
  • Do the sel­lers even have the right to sell this pro­per­ty ?
  • Are debts, mort­gages, or liens on this pro­per­ty regis­te­red ?
  • Are legal regu­la­tions (construc­tion law) igno­red ?
  • If the sale is regu­la­ted by a com­pa­ny, then please check what is still in the com­pa­ny and whe­ther it is debt-free and all taxes have been paid !

New construction projects (off – plan real estate) on Koh Samui – Thailand

At Doc­tor Pro­per­ty you will find some new construc­tion pro­jects. Our clients often ask them­selves, how safe is my invest­ment in such a plan­ned real estate pro­ject ? The real estate mar­ket on Koh Samui has gai­ned impor­tance only in recent years. The popu­la­ri­ty of the island and the yield oppor­tu­ni­ties in real estate let­ting increase the pro­per­ty mar­ket from year to year. For this rea­son, there are cur­rent­ly many deve­lop­ment com­pa­nies to mar­ket these new pro­jects. Concern for such pro­jects is not sha­red by our Doc­tor Pro­per­ty team. Of course, there may be small dif­fe­rences bet­ween the mar­ke­ting bro­chures and the fini­shed vil­la, but usual­ly you will also receive the pro­per­ty as pro­mi­sed to you when you sold it. The com­pu­ter tech­no­lo­gy and 3D desi­gn make many things pos­sible today and the cus­to­mer gets a very good idea of ​​his future pro­per­ty. Simi­lar­ly, with off-plan deve­lop­ment you have some finan­cial hea­droom. You do not need to pro­vide the entire capi­tal from the begin­ning. After a down pay­ment you usual­ly pay in sec­tions. Com­ple­te­ly dependent on the construc­tion pro­gress. This also gives you a secu­ri­ty only to pay for what has alrea­dy been built. Ano­ther advan­tage of such a new construc­tion pro­ject is the co-deter­mi­na­tion during the construc­tion pro­cess. Here, many deve­lop­ment com­pa­nies have the oppor­tu­ni­ty to adapt the type of mate­rials, color and inter­ior desi­gn to their wishes. Ano­ther big advan­tage is that at the begin­ning you have the free choice of the pro­per­ty. As a rule, the vil­las, or apart­ments with the best view, or the best loca­tion are sold first. In this case, it is real­ly impor­tant to decide on the right pro­per­ty in a time­ly man­ner. From our expe­rience, new construc­tion pro­jects are sold in a very short time. Often the objects are only 6 months on the mar­ket. Feel free to send us your contact details and we at Doc­tor Pro­per­ty will regu­lar­ly send you new pro­jects via email.

Important excerpts of the building codes and environmental regulations of Koh Samui – Thailand

An essen­tial part of the buil­ding regu­la­tions on Koh Samui is the depen­dence of the dis­tance of the pro­per­ty to the beach. The plan­ning per­mis­sion obtai­ned in the muni­ci­pal office and is of course man­da­to­ry here before construc­tion to have the appro­val for it.

  • If your pro­per­ty is within a 10 meter radius of the beach, then you may not build there at all.
  • If your pro­per­ty is within a 50 meter radius of the beach, then you may only build a single sto­rey house. Maxi­mum height here is 6 meters (with roof), maxi­mum buil­ding area is 75 m2
  • If your pro­per­ty is within a 200 meter radius of the beach, then you may only build a maxi­mum of 12 meters high and an area of ​​2,000 m2 may not be excee­ded.
  • If your pro­per­ty is loca­ted out­side of 200 meters, then you may only build a maxi­mum of 12 meters high.
  • If your plot is under 80 meters above sea level, there will only be res­tric­tions on hotels and vil­la pro­jects of more than 10 vil­las. For nor­mal vil­las there are no pro­vi­sions
  • If your plot is bet­ween 80 and 140 meters above sea level, then you may build a deta­ched house if your plot is lar­ger than 400 m2. The maxi­mum height of 6 meters must also be res­pec­ted and half of the pro­per­ty can only be built on. Like­wise, the desi­gn must fit har­mo­nious­ly into the land­scape. You should defi­ni­te­ly seek the help of expert archi­tects.
  • If your plot is over 140 meters above sea level, then essen­tial­ly the same applies as before, but with the fur­ther res­tric­tion that you may only culti­vate 90 m2 of land.
  • If your plot is above 140 meters and your land is bet­ween 35 and 50 degrees, then you may only build one house with a floor area of ​​80 m2. Like­wise, only 25% of the land is to be culti­va­ted. 50% must remain open space, 25% usable space. The plot size must total at least 480 m2.
  • If the slope is grea­ter than 50 degrees, then a new buil­ding is pro­hi­bi­ted.

Guarantees from the developer for your villa, or apartment in Koh Samui – Thailand

  • Apart­ments / Condo­mi­niums with regis­te­red govern­ment title : Here you will usual­ly receive a 5 year war­ran­ty on the shell and 2 years on the entire pro­per­ty. Howe­ver, some pro­per­ty deve­lo­pers also offer higher gua­ran­tees here.
  • Pro­per­ty pro­jects not regu­la­ted by the state : Here you must check the terms of the gua­ran­tee your­self with the pro­per­ty deve­lo­per. There are no gui­de­lines for this. In gene­ral, some deve­lo­pers give a 10-year war­ran­ty on the shell.

Legislation on acquisition of real estate in Koh Samui – Thailand

Buying a house or a villa

First of all, the Thai law clear­ly regu­lates the rules for the acqui­si­tion of land for forei­gners. Forei­gn natio­nals are not allo­wed to buy Thai land. It is only allo­wed to pur­chase buil­dings or houses. There are now only 3 options on how to own pro­per­ty in Thai­land.

  1. Option (Lea­se­hold): As a forei­gn natio­nal, you can also set up a lease (lea­se­hold) over the land / pro­per­ty. This is usual­ly valid for 30 years and alrea­dy includes options for fur­ther lease exten­sions. If you wish, other condi­tions can be inte­gra­ted. For example, at matu­ri­ty a pos­sible pur­chase option.
  2. Option : You are inves­ting over 40 mil­lion baths in Thai­land and the Govern­ment (Board of Invest­ment) will allow you to buy land up to a size of 1 Rai (1,600 m2) for resi­den­tial pur­poses.
  3. Option (Free­hold): Open a Thai limi­ted com­pa­ny (Thai limi­ted com­pa­ny). This com­pa­ny will car­ry out and main­tain the pur­chase of land / land. The pro­per­ty is then ente­red into your com­pa­ny. Howe­ver, a forei­gn natio­nal may only hold a maxi­mum of 49% of the shares in the com­pa­ny. For each forei­gn sha­re­hol­der, you need 3 other Thai co-part­ners to start the com­pa­ny.

Example 1 : A forei­gn citi­zen founds the com­pa­ny, he owns only 49% of the shares. He needs 3 more Thai part­ners.
Example 2 : Two forei­gn natio­nals set up the busi­ness, but can only own 49% of the shares them­selves. You now need ano­ther 6 Thai part­ners.

The foun­da­tion of the com­pa­ny must always be done through a lawyer. The lawyer usual­ly also pro­vides the neces­sa­ry Thai sha­re­hol­ders. These sha­re­hol­ders are only of a pas­sive nature and will make an annual allo­wance. They, as forei­gn natio­nals are appoin­ted to the direc­tor (CEO). Only you are autho­ri­zed to sign and manage the for­tunes of the com­pa­ny. The sta­tute of the com­pa­ny is desi­gned so that only you have the control of the com­pa­ny. When the com­pa­ny is foun­ded, an open share trans­fer form will be signed by the Thai Sha­re­hol­ders. With this docu­ment you, as direc­tor, can arbi­tra­ri­ly exchange the remai­ning sha­re­hol­ders, if neces­sa­ry.

You now have the right to resell or lease your pro­per­ty. You are also per­mit­ted to trans­fer your rights to other per­sons. Of course, the com­pa­ny you set up is bound by appli­cable laws. This means you must com­plete the accoun­ting and sha­re­hol­der mee­tings at pres­cri­bed inter­vals. Like­wise, you should pay the taxes on time. All these regu­la­to­ry mat­ters are hand­led by lawyers. The forei­gn inves­tor only gives the order to the admi­nis­tra­tion. The total annual mana­ge­ment fee and sha­re­hol­der fee is an ave­rage of 20,000 THB .

If you have acqui­red the land with the help of the Thai com­pa­ny, it is also advi­sable to pur­chase the house, or the vil­la in the same constel­la­tion. Although it allows law­ma­kers to 100% forei­gn owned buil­dings. By this variant, simul­ta­neous pos­ses­sion of house and pro­per­ty by the Thai com­pa­ny you can use many tax advan­tages.

Differences in the different land or land titles

Again, there are dif­fe­rences in legis­la­tion in Thai­land. In essence, two titles are rele­vant to forei­gn natio­nals. On the one hand, this is the title « Cha­note » and « Nor For Sam Kor ». We would like to explain to you both in the fol­lo­wing.

Title « Chanote » (Chanote ti din):

This title is the best land title for the owner, or inves­tor. He is the best title of the sur­vey accu­ra­cy. Like­wise, the cha­note title can be trans­fer­red very easi­ly and qui­ck­ly. All titles are issued by the res­pec­tive Land Autho­ri­ty. Opti­cal­ly, the titles can be dis­tin­gui­shed just as well for forei­gners. The cha­note title is always crea­ted in red. On site, the land is also mar­ked with a post in the ground.

Title « Nor Sor Sam Kor » :

The dif­fe­rence to the above des­cri­bed title « Cha­note », is the accu­ra­cy of the mea­su­re­ment. This can lead to minor inac­cu­ra­cies. The trans­fer to ano­ther owner takes a lit­tle lon­ger. The docu­ment is issued in black.

Title « Nor Sor Sam » :

This title is the most inac­cu­rate, of all three titles. There are big devia­tions from the sur­vey. Mea­su­re­ment tole­rances can be up to 20%. In the event of a trans­fer / sale, a public announ­ce­ment must be made 30 days in advance. The title « Nor Sor Kor » is crea­ted in green.

Buy an apartment / condominium, or a condominium

If you would like to acquire a condo­mi­nium in a large apart­ment com­plex, then there is the pos­si­bi­li­ty that you can acquire it 100% as a forei­gner. But only if not more than 49% of the pri­vate living space is held by forei­gners in the entire faci­li­ty. This model is refer­red to as Condo Free­hold.

If it is no lon­ger pos­sible to use this dis­tri­bu­tion, then you have the oppor­tu­ni­ty to pur­chase this apart­ment through the models alrea­dy des­cri­bed. Either you start a Thai com­pa­ny, or you can lease / rent this apart­ment for 30 years.

Which visa is required for a purchase of real estate in Koh Samui – Thailand ?

Forei­gn citi­zens have 3 types of visas avai­lable. With each of these visas you are also entit­led to pur­chase a pro­per­ty in Thai­land. We would like to intro­duce you to the dif­ferent types.

  1. The nor­mal tou­rist visa : With this visa you are not allo­wed to work in Thai­land. You will receive the visa upon arri­val and you can stay in Thai­land for a total of 30 days with this visa. A one-time exten­sion of ano­ther 30 days is pos­sible and can be reques­ted, for example, here on Koh Samui (Samui Immi­gra­tion Office). The fee for this is THB 1,900. The pro­ces­sing takes only a few hours.
  2. The Non Immi­grant Visa : This visa can only be obtai­ned through a Thai embas­sy abroad. Ove­rall, this visa is valid for one year. Howe­ver, you have to leave the coun­try eve­ry 3 months for a short time. You can apply for this visa if you want to work in Thai­land or own a com­pa­ny (capi­tal value grea­ter than THB 2 mil­lion). Or you have a Thai fami­ly. Or the third variant would be the so-cal­led « Reti­re­ment Visa ». For this, you must be over 50 years of age and have suf­fi­cient finan­cial resources, or be able to prove that your pen­sion is paid to you each month.
  3. The Resident Visa : – These visas are not avai­lable to most forei­gners. For this, the Thai lan­guage must be able to read and write. Fur­ther­more, you should have very good finan­cial resources and influen­tial local contacts that act as refe­rences for you.

What taxes and fees do I have to pay for a property purchase in Koh Samui – Thailand ?

Acquisition of a property through a company takeover :

If you pur­chase a pro­per­ty in Thai­land through a takeo­ver of ano­ther com­pa­ny, you will not be char­ged any taxes or fees. It’s more about a stock trans­fer here. The pro­per­ty still belongs to the same com­pa­ny after the acqui­si­tion. If the acqui­red com­pa­ny is a Thai com­pa­ny then you only have to pay a cer­tain stamp duty (paid to the govern­ment) of 0.1%. For the desi­gn, the value of your shares is deci­sive here. If you are the divest­ment, you must tax your income. As a rule, this is the income tax on capi­tal gains.

Acquisition of a property without a company takeover :

Here in the true sense of a real trans­fer of the pro­per­ty to ano­ther owner. For this, you must expect govern­ment fees and taxes of up to 6% of the pur­chase price. There are still dif­fe­rences bet­ween a lease (lease), or a contract of sale.

Lease, or rent a property (leasehold):

If you only want to rent / rent a pro­per­ty, you will have to pay both a stamp duty of 0.1% and a ren­tal regis­tra­tion fee of 1%. Here, the total dura­tion and the total rent are used for the cal­cu­la­tion. Usual­ly, the sel­ler pays the stamp duty and the ren­tal regis­tra­tion fee is sha­red in half. The sel­ler may have to pay tax on his return on capi­tal gains.

Ownership also the « freehold » model :

There are dif­ferent types of taxes and fees due. It is also dis­tin­gui­shed whe­ther the sel­ler does this com­mer­cial­ly or he acts in a pri­vate nature. A hol­ding per­iod of the pro­per­ty of 5 years has to be consi­de­red. In this case, a trade tax is applied. Other­wise, there are fees, with­hol­ding tax, trade tax or stamp duty for the free­hold model trans­fer.

The Land Office esti­mates the value of your pro­per­ty and deter­mines from this the trans­fer tax to be paid. As a rule, this value is signi­fi­cant­ly lower than your pur­chase price. The fee is cur­rent­ly 2% of the esti­ma­ted value.

Do you have any other questions ?
We will be happy to assist you.

⚠ Veuillez four­nir un numé­ro de télé­phone pour un contact plus rapide.



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