Villas in Koh Samui
Thailand is one of the friendliest most welcoming nations in the world, but it does happen to have a rather bureaucratic system of government. As a result many of the legal requirements for foreigners looking to live, work or own property in Thailand can be rather complicated.
The various rules attached to legal ownership of land linked to the Foreign Business Act, tend to be the things that are most relevant when looking to buy land or property. As a foreigner it is not possible to own land in Thailand and therefore it is necessary to either lease the land on which the property is built for 30 years up to 90 years – this is not always a popular option for westerners used to owning the land outright – or set up a Thai company, controlled by yourself in order to purchase the land outright.
All this might sound a bit daunting, but you should keep in mind is that this is normal practice in Thailand and all the developers and agents have experience of this way of operating – mainly because this is the way they need to work in order to sell their products. You also must remember that you are not the first, many people by property or build their own house in Thailand and have done for many years. The trick is to find the correct people to deal with.
Samui is a mature market these days and the fears that people have about the way Thailand operate with foreign buyers are unnecessary. While the situation sounds alien and a little too messy, the reality is far from it and the process can be very smooth a painless indeed.