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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 PRANEE by Tropical Life Residence you have to follow these steps:
Unit selection and agreement of terms and conditions
Sales and Purchase Agreement
1st Contract Payment
PRANEE by Tropical Life Residence is conveniently located just 30 m from Mini Big C, which can be reached within 1 min. by foot.
There are many other shops situated in the area of PRANEE by Tropical Life Residence, the 3 closest being:
- Lotus is 120 m away (about 1 min. by foot)
- B.M. Toys & Games is 310 m away (about 4 mins. by foot)
- Ko Ko Gallery is 670 m away (about 8 mins. by foot)
The surrounding area, where PRANEE by Tropical Life Residence is situated, offers a wide variety of restaurants. See the closest of them below:
- Fried Chicken with Fried Pork is 30 m away (a walk of about 1 min.)
- Pizza is 30 m away (a walk of about 1 min.)
- The Sports Page 25 is 30 m away (a walk of about 1 min.)
General practitioner's office is the nearest health facility, which is 260 m away (you can walk there in 3 mins.) from the project, while the closest schools in the proximity of PRANEE by Tropical Life Residence are:
- D Jade is 190 m away (about 2 mins. by foot)
- Thet is 280 m away (about 4 mins. by foot)
- Wat Lamai School is 390 m away (about 5 mins. by foot)
Samui Airport is located 12.7 km from PRANEE by Tropical Life Residence and it takes about 23 mins. by car or taxi (depending on the traffic) to get there.