Regarding foreign ownership, we work with one of the best known and respected lawyers in Thailand, Khun Perasit of Pensit and Laws. The agreement is divided in 3 parts and each Buyer shall receive the following benefits:
* Exclusive right to use, possess and enjoy the land plot on which their Villa is built pursuant to the Leasehold Agreement. The initial period of the Lease is for 30 Years plus an extension of 30 Years and an additional period of 30 years, That is to say a starting period of overall 90 years guaranteed. Being specified that through their shares in the Houses Owners Association the Buyer shall be able to renew the lease agreement in perpetuity beyond 90 years.
* Share(s) in the Houses Owners Association that shall become upon completion of the Project a shareholder in the company that owns and lease out the Land Plots on which each Buyers Villa is located. Having a right of control in the Landowner Company the Houses Owners Association shall be able to guarantee the renewal of the Lease Agreement of each Buyer.
All three leases are paid for in advance and are therefore under contractual obligation.
The manner in which we arrange the ownership makes it so that there are no capital gains or death taxes to contend with.
For more detailed information please contact us.