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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.
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?
After you have found the right property at The Bay Ridge you have to follow these steps:
Unit selection and agreement of terms and conditions
Sales and Purchase Agreement
1st Contract Payment
The Bay Ridge is conveniently located just 280 m from 7-Eleven, which can be reached within 4 mins. by foot.
There are many other shops situated in the area of The Bay Ridge, the 3 closest being:
- SM Shop Company Limited is 300 m away (about 5 mins. by foot)
- Birdcage project, chicken rice paddy, bird food, fish food is 1.1 km away (an approx. drive of 2 mins.)
- Mini Big C Ban Plai Laem, Samui is 700 m away (about 9 mins. by foot)
The surrounding area, where The Bay Ridge is situated, offers a wide variety of restaurants. See the closest of them below:
- The Shakespeare pub is 900 m away (a walk of about 12 mins.)
- Maithy Lounge is 200 m away (a walk of about 4 mins.)
- Mom's Kitchen, Je Ew, made to order food is 290 m away (a walk of about 4 mins.)
Public Health Service Center Commemoration 84th Anniversary (Bangrak) is the nearest health facility, which is 3.9 km away (you can drive there in 8 mins.) from the project, while the closest schools in the proximity of The Bay Ridge are:
- Ginger Hut Music House is 430 m away (about 6 mins. by foot)
- Nurul Hidaayah Mosque, Ban Bang Rak is 1.6 km away (an approx. drive of 3 mins.)
- Masjid Nurul hidayah Koh samui (Tansri Dr.Nik Hussian bin Abdul rahman Malaysia) is 1.6 km away (an approx. drive of 3 mins.)
Samui Airport is located 4.9 km from The Bay Ridge and it takes about 11 mins. by car or taxi (depending on the traffic) to get there.