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Partially constructed massive villa in Choeng Mon Beach. In the existing floor plan, the plans are for 8 large units with a total of 12 bedrooms and 12 bathrooms. The new owner can adjust the floor plan if they wish. The structure is 95% complete and the architecture is 55% completed. The large plot features stunning unblocked sea views. Incredible opportunity to customize a very substantial property.
Foreign nationals can own the building (villa) in their own name but not the land that it stands on.
Foreign nationals cannot own land in Thailand. The options in which a foreigner can control the land are via a 30-year lease or by purchasing the land through a Thai company.
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 at Samui Summit Estate you have to follow these steps:
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.
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.