Freehold condo in Koh Samui
Under the Condominium Act (1979) foreigners can own the freehold of 49% of the total unit space for sale in the development in any legally registered condominium building Example if the development sale 10,000 Sq.m then foreigner can buy under their own name only 4900 sq.m the rest is of for Thai nationals or for foreigner buying under a Thai limited company The foreign purchaser must request a letter of guarantee from the condominium juristic person setting out the proportion of foreign ownership which must be submitted to the Land Department upon transfer of ownership.
Examples of freehold condos for sale in Koh Samui :
27sqm, 1,640,000THB freehold condo
42sqm, 2,570,000 THB freehold condo
62sqm, 3,990,000 THB freehold condo
142sqm, 9,254,000 THB freehold condo
210sqm, 13,676,000 THB freehold condo
Foreign Exchange Transaction Form
A foreign who purchase a unit must bring in 100% of the funds from overseas in foreign currency and will need a Foreign Exchange Transaction Form (FETF) from the Thai bank in order to provide evidence to the Land Department. Due to strict money laundering regulations, a FETF is also necessary to avoid complications and remittance tax when repatriating funds should the foreigner sell the condominium at a later date.
Reminder: You can only obtain a FETF for any inward remittance for amounts not less than the equivalent of USD 20,000. You should clearly indicate the payment purpose on the payment order form in the field for a message for the beneficiary, including the name of the condominium and the unit number.
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