Know Phuket: Finances

Buying a house in Phuket is a great investment and a door into a whole new culture and life-style, but Thailand has its own rules and regulations when it comes to Phuket villa sales, especially when the investors are non-Thai. Vista del Mar Phuket will ensure that any Phuket villa sale will flow efficiently with our professional and efficient guidance, but it is good to know what is expected in the process and why, so here are is some basic information to help you navigate the Phuket house sale process!

Non -Thais are impeded in that they are not allowed to buy the land freehold. However, foreigners are able to directly own the buildings and other property on the land. Thailand law permits a 30-year maximum lease period on the land, with the option of renewing the lease for additional 30 year periods. Possession of the land is guaranteed by the fact that a house is on position on the land and as the property is separate to the land neither can be claimed without the other.

It is also possible for Limited companies registered in Thailand, that own more than 51% of the company, to be able to buy freehold meaning that the land is owned by the company not the individual.

Our development also offers a freehold/full ownership for the house (building) and two main options to own a land plot. So the owners of one of our Phuket Houses would have two separate contracts. One – with our construction company for the house (building) and the – with our development company, the land holder.

Finally we also, with the assurance of providing the best options for our clients, offer several options when it comes to leasehold schemes to ensure that the customers investment is watertight, and should the law change and allow freehold land ownership, an option to rearrange a leasehold into a freehold.