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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 Spirit of Karma you have to follow these steps:
Unit selection and agreement of terms and conditions
Sales and Purchase Agreement
1st Contract Payment
Spirit of Karma is conveniently located just 210 m from FamilyMart, which can be reached within 3 mins. by foot.
There are many other shops situated in the area of Spirit of Karma, the 3 closest being:
- Termite Control Samui Branch is 950 m away (about 12 mins. by foot)
- 69ALAM Swimsuit is 1.3 km away (an approx. drive of 4 mins.)
- The Wharf is 1.3 km away (an approx. drive of 4 mins.)
The surrounding area, where Spirit of Karma is situated, offers a wide variety of restaurants. See the closest of them below:
- Yu bar sports restaurant is 190 m away (a walk of about 2 mins.)
- front kitchen is 190 m away (a walk of about 2 mins.)
- Cactus Bungalow is 40 m away (a walk of about 1 min.)
Kan Health Clinic is the nearest health facility, which is 2.8 km away (you can drive there in 6 mins.) from the project, while the closest schools in the proximity of Spirit of Karma are:
- Walen Samui language and IT school is 400 m away (about 5 mins. by foot)
- The Dive Academy is 780 m away (about 10 mins. by foot)
- Little Coconuts Nursery is 780 m away (about 10 mins. by foot)
Samui Airport is located 8.0 km from Spirit of Karma and it takes about 16 mins. by car or taxi (depending on the traffic) to get there.