Thailand is a very beautiful country because it has a lot to offer from the gorgeous beaches to the never-ending greeneries. It is not surprising if a visit to one of its island, Koh Samui, and you decide to look into Koh Samui Real Estate with settling down there in mind.
Koh Samui is the second biggest of all the islands in Thailand while Phuket is on top of the list. The island’s tourism is starting to flourish because of its beauty and greeneries, add on top of that the fact that its rainy season is only almost a month and the rest are sunny days. Due to its increasing popularity, foreign investors have more options in real estate such as hotels, villas and apartments.
Investors should keep in mind that property buying in Thailand covers several unique laws that need to be understood before one can successfully buy their own property. Their basic is rule is that foreigners can not own a land of their own but it does not mean that you can’t purchase one. There are indirect means to buy a property in Koh Samui and the process might be quite different from that in your home country. There are several ownership concepts that are recognized in Thailand, freehold and leasehold.
With freehold, you have to form a company and a Thai citizen should be one of your partners. The property will be purchased under the property and you are the head of it thus the control over the property is yours. This is the only way in owning a land and currently, the process can be hard and expensive. If this process is not your cup of tea, you can try the other method known as leasehold.
Leasehold will give you control over a property with lease that will lasts for three decades. This lease can be extended for an additional three decades. With this method, you will be able to be the homeowner for a period of about 60 years. If you really want to enter the Koh Samui Real Estate, you can also opt for an apartment or condominium, in which case foreigners are allowed to purchase and own.