Becoming a landlord in Thailand: what you really need to know
by Bernie Samui from the blog Mavieasamui.com.
Flash News: the information you will find in this article is official, serious and comes from my interview with an experienced real estate agent in Thailand and France. Here's what you really need to know about becoming a landlord in Thailand.
Is it possible for a foreigner to become a property owner in Thailand?
Yes, it is possible to become a property owner in Thailand in several ways. First of all, the thing to know in the case of a first real estate investment in Thailand is that there are French-Thai real estate agencies which completely manage the real estate purchase file for you. This support is essential above all from a legislative point of view but also from a human point of view.
There is so much to know and understand in Asia, that is the role of real estate professionals. This includes procedures with Thai municipal and provincial organizations, including the feasibility check (Due Diligence in English). This control is an important step in securing your investment. Due Diligence makes it possible to assess risks and ensure that the property complies with local standards and regulations. It thus integrates the legal, financial and technical analysis of the property BEFORE the purchase.
The Different Possibilities for Becoming a Landlord in Thailand
Become a Condominium Owner
The condominium (English term) is a condominium apartment. You can buy it in your own name. You will obtain a Freehold title, that is to say full ownership. Concerning the transmission to your heirs or how rental management in tourism works, I invite you to contact Agnès (contact information at the bottom of this flash news).
Become a Villa Owner (Lease)
You can become the owner of an apartment or villa in your own name thanks to a lease contract, generally for a period of 30 years. The lease is a pure real estate investment product. It offers in particular the advantage of purchasing real estate cheaper than the same property in chanote (unlimited duration property title). Example of an ongoing project for a residence with 10 3-bedroom villas with swimming pool on a natural beach in Koh Samui: see the project.
Become a Villa Owner (Chanote)
Another very popular method of acquisition is unlimited purchase (Chanote). It requires the creation of a Thai company of which you will be the director. This method of purchasing always surprises French speakers the first time. In fact, this title requires the creation of a company with one or more Thai shareholders in the majority. However, it works very well and remember, the real estate agency in collaboration with the lawyer's office takes care of everything. Contact Agnès or Stéphanie to talk about it with her. They will be able to describe the entire process to you.
If I don't speak English can I own property in Thailand?
Rest assured, a large majority of French speakers speak more or less English. So the answer is yes. Agnès and Stéphanie from the SLP agency will be able to provide you with information in French, whatever your investment project in Thailand. The tax advantages are remarkable. In fact, the income linked to the rental management of your property can be 3 to 5 times higher than income in France, for example.
All in all, yes, it is possible to be an owner in Thailand in general, and on the island of Samui in particular, by being a foreigner and French speaker. This is thanks to a well-established file controlled by a Franco-Thai agency like SLP. Do not hesitate to contact them to discuss your investment project in Thailand. Here is their contact information linked here: CONTACT SLP.
Comments