Invest in Your Dream Home in Phuket

1. Contact our manager
   We offer our services for free to the buyer, with a comprehensive catalog of properties and all necessary information. We will check all the documents and ensure your interests are protected;
2. Choose a property
   Our specialists will help you find a property that meets your requirements and budget. We provide all necessary information, organize viewings, and consult on all questions;
3. Reserve the selected property
   The reservation agreement includes details of the parties, property information, and payment schedules. A deposit of THB 100,000 — 200,000 temporarily removes the property from the market. The deposit can be paid in cash, credit card, or transferred to the seller’s account;
4. Sign the contract
   After the deposit is made, the purchase agreement should be signed, outlining the terms of purchase, costs of the transaction and maintenance, and penalties for contract violations;
5. Pay for the property
   Payment can be made in two ways:
   For new builds: transfer funds to the developer’s account from abroad.
   For resale properties: open an account in a Thai bank and transfer funds to it.
   Important. For freehold registration, funds must come from abroad. For leasehold registration, payment can be made by any method.
6. Register ownership
   After payment, freehold or leasehold ownership should be registered with the Land Department. Representatives of the developer (seller) and buyer must be present during the registration.

Yes, foreigners can purchase property in Thailand. There are two types of property rights for foreigners in Thailand: Leasehold and Freehold.

Freehold — full ownership for an unlimited time, allowing the property to be resold, gifted, or bequeathed. Key features:

• independence from the previous owner upon resale;
• freehold property is more expensive than Leasehold;
• registration fees are higher than for Leasehold.

• Leasehold property is about 10% cheaper;
• Registration fees is lower;
• the lease agreement must be renewed every 30 years in the Land Department;
• no shared ownership of common areas in a condominium;
• simplified payment procedure;
• not subject to taxation and does not require declaration as foreign property.

When registering Freehold property, the following taxes and fees are payable:

• Transfer Fee: 2% of the property value;
• Specific Business Tax: 3.3% of the appraised value of the property. However, it is only payable if the property is sold within the first five years of ownership by the same person. If not, stamp duty will be charged;
• Stamp Duty: 0.5% of the highest property value (either contract price or appraised value). When a specific business tax is applied, stamp duty is not required, so it is either one or the other;
• Withholding Tax: This tax is calculated using a complex formula that takes into account the appraised value of the property, the period the seller owned the property, and the individual income tax rate for that person. The Land Department will provide the actual calculation, which can be requested in advance

• Registration Fee: 1% of the property value in the contract;
  
• Stamp Duty: 0.1% of the property value in the contract.
  

In condominiums, there are monthly maintenance fees for the upkeep of common areas, which include:

• 24-hour security;
• cleaning and maintenance of common areas;
• gardening;
• maintenance of the fitness center;
• pool cleaning;
• lighting of common areas, etc.

Yes, you can purchase property remotely, and the process is completely safe. The transaction follows the same steps as if the buyer were present on the island.

1. Contact our manager
   We will select options remotely and send you all the necessary information (floor plans, photos, layouts, payment terms, and a sample contract). We offer our services for free to the buyer, with a comprehensive catalog of properties and all necessary information. We will check all the documents and ensure your interests are protected;
2. Choosing a property
   Online consultation with an expert to determine your purchase goals, objectives, and budget. Then we will select options that best match your criteria. For the properties you like, we will conduct an online tour of the showrooms and a consultation with the developer’s manager;
3. Reservation of the selected property
   After the final selection, the reservation agreement will be signed online, and a deposit of 100,200,000 THB will be paid by bank transfer to the developer’s account. The reservation agreement includes details of the parties, property information, and payment schedule. Payment of the deposit removes the property from the market;
   
4. Contract signing
   After the deposit is paid, the purchase agreement has to be signed, outlining the terms of purchase, costs of the transaction and maintenance, and penalties for contract violations. The original purchase agreement and the invoice we will send to you via express mail;
5. Payment
   Payment will be made by bank transfer to the developer’s account from abroad. You will provide the bank with the original purchase agreement that you already have received;
6. Property handover and registration of ownership
   After full payment and completion of construction, you can either come for property handover personally or our real estate agent can do it for you. Registration can be done in your presence or remotely with a power of attorney to the developer’s lawyer and with our real estate expert present.

If you are a foreigner, a non-resident, and do not reside in Thailand for more than 180 days a year, your tax will be 15% on the profit. The tax is calculated immediately when the rental income is transferred to the property owner and is sent to the revenue department. After the 15% withholding tax is credited to the account, all obligations are fulfilled. This procedure completes everything, and your management company or hotel operator will act as the tax agent when paying you the income. You do not need to fill out and submit tax forms.

If you are a foreigner, a resident, and live in Thailand for more than 180 days per year, you can obtain a TAX ID and pay tax on a progressive scale from 5% to 37%, depending on your total annual income. Thailand uses a progressive tax rate, meaning the more profit you earn from in a calendar year renting out your property, the higher the tax rate will be.

The tax calculation is as follows:

• Income from 1 THB to 150,000 THB is tax-exempt;
• Income from 150,000 THB to 300,000 THB is taxed at 5%;
• Income from 300,000 THB to 500,000 THB is taxed at 10%;
• Income from 500,000 THB to 750,000 THB is taxed at 15%;
• Income from 750,000 THB to 1,000,000 THB is taxed at 20%;
• Income from 1,000,000 THB to 2,000,000 THB is taxed at 25%;
• Income from 2,000,000 THB to 4,000,000 THB is taxed at 30%;
• Income of 4,000,000 THB and above is taxed at 37%.

• The first 150,000 THB is tax-exempt;
• The next 150,000 THB is taxed at 5%;
• The next 200,000 THB is taxed at 10%;
• The remaining 170,000 THB is taxed at 15%.

Each case is unique and should be considered based on your purchase goals, budget, and property preferences. Here are the pros and cons:

Pros of buying a new build:

• best prices before and during construction;
• price increase of 25−35% by the time the property is completed;
• choice of the best options (layout, floor, view);
• possibility to modify the layout and design;
• convenient interest-free installment plans;
• developer’s responsibility for construction deadlines is outlined in the contract.

• income from investment or living is delayed until construction is completed;
• there is a risk of construction delays.

• you can immediately see the property and evaluate the residential complex;
• rental income can be earned immediately after purchase, or the property can be used for living;
• the buyer typically receives a full set of furniture and appliances.

• no installment plans, the entire amount must be paid immediately;
• repairs may be required.