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The building (the bricks and mortar) can be owned by a non-Thai national outright in their name in what is called the house registry which secures ownership indefinitely of the structure.
In Thailand non-Thai nationals cannot own land outright in their name. Land can be controlled through either a Thai Company or a long-term registered lease. The longest registered lease term by Thai law is 30 years and most developers will offer 3 terms for a total of 90 years.
After you have found the right property you have to follow these steps:
Agreement of terms and conditions
Sales and Purchase Agreement
Settlement & Transfer
A 30 year lease period is legally protected under Thai law and ownership cannot be disrupted. It is common for developers to offer an additional two terms of 30 contractually obligating a total of 90 years.
Prior to purchasing a leasehold property it is important to secure a copy of the lease agreement or get further clarity on these three points.
#1 - Who is the lessor? (an individual or a Thai Company) Securing a lease from a Thai Company offers much more security than a private individual.
#2 - Do I have voting rights as a Lessee? (Some lease contracts do not allow lessee to have voting rights)
#3 - Is there a succession clause in the lease agreement that will allow inheritance of the lease?
Thailand has different visas like Spousal Visa, Retirement Visa, Student Visa and Elite Visa - just to name a few options. Each visa has different requirements but they are usually easy to obtain.
Iris Villas is conveniently located just 440 m from FamilyMart, which can be reached within 6 mins. by foot.
There are many other shops situated in the area of Iris Villas, the 3 closest being:
- 7 Eleven is 440 m away (about 6 mins. by foot)
- 7-eleven, Soi Sai Yuan 11 is 1.5 km away (an approx. drive of 2 mins.)
- 7-Eleven is 3.1 km away (an approx. drive of 4 mins.)
The surrounding area, where Iris Villas is situated, offers a wide variety of restaurants. See the closest of them below:
- Isan Ban Suan is 500 m away (a walk of about 6 mins.)
- HA LAL FOOD is 720 m away (a walk of about 9 mins.)
- Mexicali Room is 670 m away (a walk of about 9 mins.)
Saiyuan Lab is the nearest health facility, which is 1.9 km away (you can drive there in 5 mins.) from the project, while the closest schools in the proximity of Iris Villas are:
- Luna Diving Thailand - Diving Cruises is 170 m away (about 2 mins. by foot)
- Kindergarten "Fairy Tale" / Kindergarten "Skazka" is 600 m away (about 7 mins. by foot)
- Thalang International Language School -- Rawai is 1.6 km away (an approx. drive of 5 mins.)
Phuket International Airport is located 44.4 km from Iris Villas and it takes about 1 hour 3 mins. by car or taxi (depending on the traffic) to get there.