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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.
Rockwater Residences is located 1.4 km away from seven Eleven and it can be reached within 4 mins by car.
There are many other shops situated in the area of Rockwater Residences, the 3 closest being:
- PSP Koh Samui is 2.1 km away (an approx. drive of 6 mins.)
- Samui Coconut Oil Soap is 2.1 km away (an approx. drive of 5 mins.)
- Naka Thal Herbal. is 2.2 km away (an approx. drive of 6 mins.)
The surrounding area, where Rockwater Residences is situated, offers a wide variety of restaurants. See the closest of them below:
- The Roof Koh Samui is 200 m away (a walk of about 4 mins.)
- Samui Island is 2.3 km away (approx. 7 mins. by car)
- Thai Food Station is 1.7 km away (approx. 5 mins. by car)
Staff Dormitory Building 1 is the nearest health facility, which is 970 m away (you can walk there in 18 mins.) from the project, while the closest schools in the proximity of Rockwater Residences are:
- TEFLworld is 2.8 km away (an approx. drive of 7 mins.)
- Bundle tutor is 1.6 km away (an approx. drive of 4 mins.)
- Panyadee - The British International School of Samui is 2.7 km away (an approx. drive of 7 mins.)
Samui Airport is located 7.1 km from Rockwater Residences and it takes about 18 mins. by car or taxi (depending on the traffic) to get there.