Koh Samui, Thailand Koh Samui, Thailand has long been the locale of choice for paradise seeking foreigners from all parts of the globe. Its shimmering turquoise waters and sun bleached, white sandy bays are lined with bungalows, villas and resorts. Its happening night life with a plethora of restaurants feeds the epicureans and provides a magnificent back drop to beautiful sunsets and starry nights. It’s no wonder that so many foreigners want to own property in Koh Samui, but like any other property market in the world, it’s important to know understand the legal implications, visa requirements, and tax guidelines involved before deciding which property you are going to invest in.Getting To The IslandBefore investing in Koh Samui property, you must first feel confident that traveling to and from the island has been made easy and convenient for tourists. After all, they play a major part in helping Samui’s economy grow and helping tourists get to the island should be top priority. The most convenient way to get to Samui is by flying with Bangkok Airways from Bangkok, Singapore, Phuket, Pattaya, and Chiang Mai. There are 15 daily 80 minute flights between Samui and Bangkok and 4 weekly 90 minute flights between Koh Samui and Singapore. Alternatively, several ferries and catamarans run from Surat Thani or Don Sak on the Thai mainland. There are almost 10 daily departures between Samui and Ko Pha-Ngan.The Samui airport is a unique and highly successful experiment in building an airport that is kind to both the cultural and natural environments of a tropical island resort. Flying in, you get brief glimpses of outlying islands, streaks of surf, the wakes of small fishing craft sketched across the calm aquamarine sea. Smudges of coral reef dapple the water as you come in closer still. Then the coast of Samui appears. Two hundred and fifty kilometers of tropical hideaway scalloped by dozens of bays rimmed in white sand, carpeted in lush textures of forested hill and coconut grove, Samui is the centerpiece in a group of 80 other islands set in the Gulf of Thailand.Located 2km north of the main village Chaweng, Koh Samui Airport serves both domestic and international flights including Bangkok Airways, Thai Airways International, Berjaya Air, and Firefly.Koh Samui Property Tax Guidelines If you’ve already done your research and you are looking to invest in Koh Samui property, you really should understand how the tax liability can affect your overall return.All Koh Samui property owners in Thailand are liable for tax on rental income, which is based on either standard personal income tax (PIT) rates for “resident” tax payers and a at 15% PIT rate on assessable income for non-resident tax payers. A person becomes a “resident” tax payer if he or she spends more than 180 days in any tax year in Thailand. Thailand does not charge a separate capital gains tax for foreign buyers. All earned income from capital gains is taxed the same as regular income. The highest rate of income tax is currently 37% per year.When purchasing property in Koh Samui, it is quite standard for the purchaser to be solely responsible for the payment of all transfer fees as well as taxes duly charged by the competent land office in connection with the registration of transfer of ownership of the property. This includes the government transfer fee, withholding tax and specific business tax as well as stamp duty and other costs and expenses arising out of the registration of the transfer of ownership to the purchaser.Transfer fees are typically 2% of the registered value, stamp duty is.5% of registered value, withholding tax is 1% of the appraised value, and business tax is 3.3% of appraised value. Income tax is usually between 1-3% on Koh Samui property. There are no established rules regarding who pays the income tax while this is simply another part of the bargaining process during the property purchase as are all other costs relating to the transfer of ownership. Tax on Rental Income is 10-30% of rental income depending on the type of property. Lease Registration Fee is 1.1%Transferring Money To Purchase Samui PropertyUnlike most developed economies where transferring money to and from bank accounts is relatively straight forward and easy, this is NOT the case in emerging markets like Thailand. Before purchasing property in Koh Samui, it is very important to understand exactly how to transact and what needs to be done prior to purchase. Reason for the complexity of this issue is because of the Thai laws concerning Foreign ownership of Condominium Property. According to Thai Law, foreigners may own 49 percent of the aggregate sale-able unit space of a condominium building while the remaining 51 percent must be owned by either Thai nationals or majority owned Thai Companies. Below is a step by step guide on how to transfer money when dealing with Koh Samui properties.
A Thai bank account must be set up in your name in order to transfer money to yourself before exchanging your currency to Thai Baht. Any foreign currency can be used to purchase a condominium unit. The foreign currency must be transferred into Thailand as foreign currency and then exchanged into Thai Baht by a local bank in Thailand. In many cases, the developer may offer to help you establish a bank account in Thailand due to the complexity of establishing an account yourself. This may come at an extra cost, however developers are always willing to negotiate or waive this cost if it helps get the deal done.
Foreigners are required to remit at least USD 20,000.00 into Thailand per transfer to receive a FOREX Transfer Form. (Transfers of funds must be made in FOREIGN CURRENCY only and NOT in Thai Baht, i.e. if you are working in US Dollars then remit in US Dollars. Do not remit in Thai Baht. This form will be needed to transfer the unit under foreign ownership and also remit money back out of Thailand if so needed in the future.
Documents needed when buying a condominium: For foreigners to be eligible to purchase a condominium unit in Thailand they must present proof to the Department of Lands that the funds have been remitted from overseas in foreign currency. Without such proof, the Department of Lands will not register the transfer of ownership to the foreign buyer.
Remittances must be sent in exactly (“to the letter”) the same name as appearing on the purchase contract, (i.e. if Tom Smith is the buyer then the name Tom Smith must appear on the remittance advice. T. Smith or Smith Enterprises are unacceptable.) If the buyers are two individuals, then two names should appear on the contract and two separate remittances should be made by such two persons, in equal amounts.
The purchaser has to include the transfer instruction indicating that the purpose of this money is to buy a condominium unit. The bank that receives money in foreign currency will issue the document (Foreign Exchange Transaction Form) which contains the following information:
The transferred amount in foreign currency
The transferred amount in Thai Baht
The name of money sender
The name of money receiver
The purpose of transferringNormally throughout the transfer process, the purchaser has to instruct the gateway bank to identify the name of the sender to be the same as the receiver’s. The Land Department will accept the name of purchaser to be either sender or receiver of the transferred money.**Remark** If the money receiver is an individual but wants to put the unit in the names of two people, the sender has to instruct the gateway bank to specify the names of two people together with the purpose of buying condominium.For example:Mr. Smith transferred money to Mr. John and would like to put down the names of two people, Mr. Smith must also instruct his bank to specify the purpose as being to buy the condominium by both Mr. Smith and Mr. John. In this case, the land department can accept this and permit the transfer.The Land Department also can accept the transfer even if the sender’s name of the receiver’s name is not the purchaser’s name but the sender should instruct the gateway bank to put the purpose as being to buy the condominium by (Purchaser’s name). The amount of money must be equal to or higher than the selling price declared to the Land Department.Alternatives To Transferring Money To Purchase Koh Samui PropertyFor the avoidance of any doubt, we recommend wherever possible that Samui property buyers arrange for their local bank to issue the Foreign Exchange Transaction Form for all remittances. In this case you would transfer the funds directly to the Developer’s bank account in the prescribed format, and the Developer will arrange for the Foreign Exchange Transaction Form to be issued by the Developer’s Bank.For the buyers convenience, we strongly recommend that you transfer the funds directly to the Developer’s bank account, but ONLY do so if you know and trust the developers and know exactly where your money is going. In most cases, the developers will use a third party escrow arrangement typically put together by a local attorney. This is always the most secure way to exchange contracts as the developers are not allowed to access your funds until the title deed on the property has been transferred to you.Why does the developer need to use Foreign Exchange Transaction Form?
Because the Bank of Thailand controls the flow of foreign currency, every single baht must have a source and a reason. The Land Department must perform in accordance with this regulation. By this restriction, every foreign buyer must transfer money from abroad.
Non-residents who sell the condominium and transfer the money out of country do not have to pay the remittance tax (normally the tax is around 30%)
In case of transferring money out of the country, the tax-free amount is determined by the initial amount transferred.Transfer of title deed Documents needed: For Individual Purchaser
Passport (copy if applicable, marriage/divorce certificate including a letter of consent
From your spouse if married [Thai Language]).
Foreign Exchange Transaction Form or credit note.
Power of attorney, if anyone but yourself is representing you, in Thai script with a
Notarization by Notary Public or if overseas by the Thai Consulate.Corporate Documents needed: For Company Purchaser
Certified copy of the certificate of incorporation
Certified copy of the memorandum of association
Notaries certificate
List of shareholders (in English, but must be accompanied by a Thai translation)
Minutes of directors’ meetings, which have a resolution to sell/purchase the property
(specifying name and number and agenda dealing with the finance of the purchase if the
company’s registered capital is less than the purchase price)
Letter of advice regarding specific¬ signature
Power of attorney, if the authorized directors do not make the transaction by themselves
(Land Department form)
Free debt letter
Foreign co-owner letter
The certified copy of the I.D. Card of the authorized directors
The certified copy of the house registration of the authorized directors
Title deed of the condominium unitThai Visa Requirements Please note that whilst we believe the below information is accurate, it is recommended to verify requirements with the Royal Thai Embassy before travel.Many Non-Thai residents require a visa to stay in the country for more than 30 days. However, most African countries require a visa to enter Thailand – Cyprus, Czech Republic, India, Maldives, Oman, Poland, Russia, Saudi Arabia, Taiwan, Ukraine are allowed 15 days under the visa exemption. A Non-Immigrant Visa is valid for up to 90 days, but can be extended for up to a year at a time, depending on eligibility criteria. Retirement visas for individuals over 50 years old are readily available, subject to certain other criteria, tourist visas for stays of more than 30 days and less than 60 days and work permits for those with specific skills can be applied for via the Thai Embassy or consulate in your home country.Use An Investment Firm Or Relevant Developer To Assist You With The Purchase of Your Koh Samui Property Well you can’t say we didn’t warn you that purchasing property in Samui would be extremely complicated which is why we strongly suggest that you use a real estate agent or investment firm to assist you with the purchase of your Samui property. Often times the developer or agent that you are purchasing the property from will do everything they can to make this process as affordable and convenient as possible. After all, it’s in their interest to get this property deal done, and they should be more than glad to help you through it. Another reason it is beneficial to use the developer or registered agent, is because they already have the experience and connections to get you through this transaction. Because they’ve transacted several times before on Koh Samui properties, they know exactly who to go to and for what circumstance. It is very likely that they already have escrow arrangements established and banks in place to handle all of the paper work for you. In many instances, they may even use their company as the “buyer” and then issue shares in the company which then gives you legal ownership. This method of purchase avoids the issue of only being able to purchase 49% of a unit due to Thai law.

A travel website that does not sell travel but enables travelers to save money on travel as long as they do their own bookings is now offering services to internet travelers. This service is a unique addition to travel options for all travelers comfortable with direct bookings using a new type of travel document called a TopTravelVoucher.The operators of this service are addressing the issue of travel pricing which often includes a 10 to 25% mark-up to allow for the payment of travel agent commission to either wholesalers or retailers but when travelers buy directly from the provider (accommodations, tours or transportation) they can still pay the price inclusive of commission. To overcome the travel providers’ problems of showing multiple prices for the same products and services on their websites, they can now offer ‘fair fare prices’ by issuing TopTravelVouchers.Travel Providers are given marketing and promotion in exchange for their own travel vouchers, equivalent to or more than, the commission that would be payable upon sale of their various travel packages and services, so they still incur the commission cost on sales but do not have to alienate their distribution chain of wholesalers and retailers by offering a retail, wholesale or ‘direct’ price on their website. This is done by the voucher operator who sells their vouchers to travelers at deep discounts to their redemption values to be used when making direct bookings, hence a travel agent who does not sell travel, only travel vouchers and therefore is not a travel agent.According to the website information of the voucher operator, they are able to offer the ‘Fair Fare Price’ option because they do not have the normal operating costs of travel agencies such as shops, reservation systems, brochures, advertising and high staffing levels, but can still offer the traveler and the travel provider a service that is fair to all users.Before purchasing TopTravelVouchers, travelers are advised to check for quality and availability directly with the website of their travel selection and when satisfied, make a direct booking mentioning the voucher, then purchase the voucher. All vouchers come with a 100% money-back guarantee and in the event that the traveler is not happy with their travel purchase upon completion, the cost of the TopTravelVouchers will be reimbursed and the matter taken up with the provider.There are three levels of vouchers, $30, $50 and $100usd achieving various levels of savings but to give an example, at the time of this article there was a voucher valued at 1,500 euros (around $2,000usd) on sale for $100usd. If the vouchers are purchased outside of the USA the price is shown in the relevant currency. All vouchers are issued online and the provider is also sent a duplicate with the traveler details to encourage assistance in any travel itinerary planning of the traveler.So as not to deter expert travel agents and agencies from participation in this service the site invites them to identify any destination and activity expertise and to also offer vouchers to encourage travelers to seek out expert professional agents. Many retail agents offer their own travel packages and tours and many are comfortable in dealing with new clients from anywhere in the world over the internet, telephone or skype. The site cautions travelers to be careful when selecting ‘specialist’ agents who are not necessarily experts and who may have just taken a simple test operated by a tourism office or tour operator promoting their own destination or products.The travel selections with TopTravelVouchers are limited at present but the site operators are confident in the growth potential, but if you want to see what is available, you can find them at toptravelsites.

The current market is back in the doldrums and when the property market is falling, past experience tells us it’s a great time to bag a bargain and buy a house at a discount that you are unlikely to get in the coming years. Here’s a step by step guide on how to buy a property by haggling down the price.1. Get your finances sorted!The key success to securing a bargain property is to be able to buy quickly. This means you need to have either cash or as good as cash with a hefty deposit and a lender that is capable of making funds available in a few weeks, rather than the normal six weeks they take.2. Find a legal company which can exchange quicklyThe legals for buying and selling a home can take months. Much of this is down to poor conveyancing companies. So if you want to bag a bargain, it’s vital to ensure you work with a legal company that can work to tight deadlines and isn’t reliant on one person to do the work, in case they go sick or on holiday.3. Understand where to get property bargainsProperty bargains are secured when people are desperate to sell. There are lots of reasons why someone might sell a property at a bargain price which include:-(a) The three ‘D’s -Death, Divorce and DebtSadly things happen in life to homeowners that force them to have to sell their property at less than it’s worth. If someone dies, a partner might need to sell up as they can’t afford the property anymore or they need to move nearer to friends and family. If a couple aren’t getting on and divorce is the only option, not everyone can afford to stay in their family home, particularly with so many families having two working parents. Debt is a rough thing, particularly in these difficult times, so when it really bites, selling up and releasing the equity is sometimes the only option.(b) RepossessionFor a property to be repossessed, the procedure takes sometime – it can be six months or more. If the owner has been to court they will often be given/be advised to try to sell the property themselves to get the best price they can rather than have the property taken off them and sold on incurring increased fees for doing so by the lender. This can be a great source of bargains, but can be like finding a needle in a haystack, unless you are happy to hang around the courts. They are either sold through agents, to ‘quick sale’ companies or via local auctions.(c) Chain falls throughIf someone has sold their property and made an offer on another one, then their buyer pulls out, this can cause a chain to breakdown unless another buyer can be found at short notice, so a great time to be able to offer less than the property originally sold for – as long as you can move within a matter of weeks to replace the previous buyer.(d) New Build PropertiesDevelopers run businesses and businesses have targets to achieve. So at the end of the year, or even the half year, the sale of one property might mean bonuses all round for the developer’s staff. This is when dropping a property’s price is worthwhile. As is selling off the ‘last two’ properties to free up expensive site sales offices and staff.(e) Half and Half HomesAt the moment, buyers are making offers on properties which are either pristine and ready to move into or a wreck which needs a lot of work (new kitchen and bathroom, re-decorating). Half and half homes which are partly pristine and partly a wreck therefore just aren’t selling, so after a long time waiting for a buyer, vendor’s are more likely to drop their price. These properties can take a while to secure at a bargain though, as it often takes vendors more than six months to realise they aren’t going to get the price they had hoped.(f) Properties needing substantial workMany people want to do a up a property, but that doesn’t really mean they want to get their hands dirty. Most ‘do-er uppers’ are really looking for somewhere they can move into then upgrade the decoration and put in a new kitchen and bathroom. The real bargains come when a property needs gutting – or already has been, if it’s been fire damaged, wrecked by previous owners. So less buyers trying to compete to buy these properties means you are more likely to ‘bag a bargain’.(g) Properties with ‘undesirable’ neighboursMost properties are sold when they sit next to another property or overlook lots of beautiful countryside. Those though that have a pylon in the back garden, front onto a busy road (although less so in city centres), next to schools, or a dilapidated property, tend to sell for a lot less than those in a better location. In a falling market these are the toughest properties to shift, so you can make pretty low offers and if the vendors can still move on, your offer may well get accepted.So if you want to haggle to bag a bargain in the property market, it’s essential to sort out your finances, sign up a proactive legal company and find properties where vendors are likely to be ‘motivated sellers’ and let you have the property for less than they would when the property market is buoyant.

Koh Samui, Thailand Koh Samui, Thailand has long been the locale of choice for paradise seeking foreigners from all parts of the globe. Its shimmering turquoise waters and sun bleached, white sandy bays are lined with bungalows, villas and resorts. Its happening night life with a plethora of restaurants feeds the epicureans and provides a magnificent back drop to beautiful sunsets and starry nights. It’s no wonder that so many foreigners want to own property in Koh Samui, but like any other property market in the world, it’s important to know understand the legal implications, visa requirements, and tax guidelines involved before deciding which property you are going to invest in.Getting To The IslandBefore investing in Koh Samui property, you must first feel confident that traveling to and from the island has been made easy and convenient for tourists. After all, they play a major part in helping Samui’s economy grow and helping tourists get to the island should be top priority. The most convenient way to get to Samui is by flying with Bangkok Airways from Bangkok, Singapore, Phuket, Pattaya, and Chiang Mai. There are 15 daily 80 minute flights between Samui and Bangkok and 4 weekly 90 minute flights between Koh Samui and Singapore. Alternatively, several ferries and catamarans run from Surat Thani or Don Sak on the Thai mainland. There are almost 10 daily departures between Samui and Ko Pha-Ngan.The Samui airport is a unique and highly successful experiment in building an airport that is kind to both the cultural and natural environments of a tropical island resort. Flying in, you get brief glimpses of outlying islands, streaks of surf, the wakes of small fishing craft sketched across the calm aquamarine sea. Smudges of coral reef dapple the water as you come in closer still. Then the coast of Samui appears. Two hundred and fifty kilometers of tropical hideaway scalloped by dozens of bays rimmed in white sand, carpeted in lush textures of forested hill and coconut grove, Samui is the centerpiece in a group of 80 other islands set in the Gulf of Thailand.Located 2km north of the main village Chaweng, Koh Samui Airport serves both domestic and international flights including Bangkok Airways, Thai Airways International, Berjaya Air, and Firefly.Koh Samui Property Tax Guidelines If you’ve already done your research and you are looking to invest in Koh Samui property, you really should understand how the tax liability can affect your overall return.All Koh Samui property owners in Thailand are liable for tax on rental income, which is based on either standard personal income tax (PIT) rates for “resident” tax payers and a at 15% PIT rate on assessable income for non-resident tax payers. A person becomes a “resident” tax payer if he or she spends more than 180 days in any tax year in Thailand. Thailand does not charge a separate capital gains tax for foreign buyers. All earned income from capital gains is taxed the same as regular income. The highest rate of income tax is currently 37% per year.When purchasing property in Koh Samui, it is quite standard for the purchaser to be solely responsible for the payment of all transfer fees as well as taxes duly charged by the competent land office in connection with the registration of transfer of ownership of the property. This includes the government transfer fee, withholding tax and specific business tax as well as stamp duty and other costs and expenses arising out of the registration of the transfer of ownership to the purchaser.Transfer fees are typically 2% of the registered value, stamp duty is.5% of registered value, withholding tax is 1% of the appraised value, and business tax is 3.3% of appraised value. Income tax is usually between 1-3% on Koh Samui property. There are no established rules regarding who pays the income tax while this is simply another part of the bargaining process during the property purchase as are all other costs relating to the transfer of ownership. Tax on Rental Income is 10-30% of rental income depending on the type of property. Lease Registration Fee is 1.1%Transferring Money To Purchase Samui PropertyUnlike most developed economies where transferring money to and from bank accounts is relatively straight forward and easy, this is NOT the case in emerging markets like Thailand. Before purchasing property in Koh Samui, it is very important to understand exactly how to transact and what needs to be done prior to purchase. Reason for the complexity of this issue is because of the Thai laws concerning Foreign ownership of Condominium Property. According to Thai Law, foreigners may own 49 percent of the aggregate sale-able unit space of a condominium building while the remaining 51 percent must be owned by either Thai nationals or majority owned Thai Companies. Below is a step by step guide on how to transfer money when dealing with Koh Samui properties.
A Thai bank account must be set up in your name in order to transfer money to yourself before exchanging your currency to Thai Baht. Any foreign currency can be used to purchase a condominium unit. The foreign currency must be transferred into Thailand as foreign currency and then exchanged into Thai Baht by a local bank in Thailand. In many cases, the developer may offer to help you establish a bank account in Thailand due to the complexity of establishing an account yourself. This may come at an extra cost, however developers are always willing to negotiate or waive this cost if it helps get the deal done.
Foreigners are required to remit at least USD 20,000.00 into Thailand per transfer to receive a FOREX Transfer Form. (Transfers of funds must be made in FOREIGN CURRENCY only and NOT in Thai Baht, i.e. if you are working in US Dollars then remit in US Dollars. Do not remit in Thai Baht. This form will be needed to transfer the unit under foreign ownership and also remit money back out of Thailand if so needed in the future.
Documents needed when buying a condominium: For foreigners to be eligible to purchase a condominium unit in Thailand they must present proof to the Department of Lands that the funds have been remitted from overseas in foreign currency. Without such proof, the Department of Lands will not register the transfer of ownership to the foreign buyer.
Remittances must be sent in exactly (“to the letter”) the same name as appearing on the purchase contract, (i.e. if Tom Smith is the buyer then the name Tom Smith must appear on the remittance advice. T. Smith or Smith Enterprises are unacceptable.) If the buyers are two individuals, then two names should appear on the contract and two separate remittances should be made by such two persons, in equal amounts.
The purchaser has to include the transfer instruction indicating that the purpose of this money is to buy a condominium unit. The bank that receives money in foreign currency will issue the document (Foreign Exchange Transaction Form) which contains the following information:
The transferred amount in foreign currency
The transferred amount in Thai Baht
The name of money sender
The name of money receiver
The purpose of transferringNormally throughout the transfer process, the purchaser has to instruct the gateway bank to identify the name of the sender to be the same as the receiver’s. The Land Department will accept the name of purchaser to be either sender or receiver of the transferred money.**Remark** If the money receiver is an individual but wants to put the unit in the names of two people, the sender has to instruct the gateway bank to specify the names of two people together with the purpose of buying condominium.For example:Mr. Smith transferred money to Mr. John and would like to put down the names of two people, Mr. Smith must also instruct his bank to specify the purpose as being to buy the condominium by both Mr. Smith and Mr. John. In this case, the land department can accept this and permit the transfer.The Land Department also can accept the transfer even if the sender’s name of the receiver’s name is not the purchaser’s name but the sender should instruct the gateway bank to put the purpose as being to buy the condominium by (Purchaser’s name). The amount of money must be equal to or higher than the selling price declared to the Land Department.Alternatives To Transferring Money To Purchase Koh Samui PropertyFor the avoidance of any doubt, we recommend wherever possible that Samui property buyers arrange for their local bank to issue the Foreign Exchange Transaction Form for all remittances. In this case you would transfer the funds directly to the Developer’s bank account in the prescribed format, and the Developer will arrange for the Foreign Exchange Transaction Form to be issued by the Developer’s Bank.For the buyers convenience, we strongly recommend that you transfer the funds directly to the Developer’s bank account, but ONLY do so if you know and trust the developers and know exactly where your money is going. In most cases, the developers will use a third party escrow arrangement typically put together by a local attorney. This is always the most secure way to exchange contracts as the developers are not allowed to access your funds until the title deed on the property has been transferred to you.Why does the developer need to use Foreign Exchange Transaction Form?
Because the Bank of Thailand controls the flow of foreign currency, every single baht must have a source and a reason. The Land Department must perform in accordance with this regulation. By this restriction, every foreign buyer must transfer money from abroad.
Non-residents who sell the condominium and transfer the money out of country do not have to pay the remittance tax (normally the tax is around 30%)
In case of transferring money out of the country, the tax-free amount is determined by the initial amount transferred.Transfer of title deed Documents needed: For Individual Purchaser
Passport (copy if applicable, marriage/divorce certificate including a letter of consent
From your spouse if married [Thai Language]).
Foreign Exchange Transaction Form or credit note.
Power of attorney, if anyone but yourself is representing you, in Thai script with a
Notarization by Notary Public or if overseas by the Thai Consulate.Corporate Documents needed: For Company Purchaser
Certified copy of the certificate of incorporation
Certified copy of the memorandum of association
Notaries certificate
List of shareholders (in English, but must be accompanied by a Thai translation)
Minutes of directors’ meetings, which have a resolution to sell/purchase the property
(specifying name and number and agenda dealing with the finance of the purchase if the
company’s registered capital is less than the purchase price)
Letter of advice regarding specific¬ signature
Power of attorney, if the authorized directors do not make the transaction by themselves
(Land Department form)
Free debt letter
Foreign co-owner letter
The certified copy of the I.D. Card of the authorized directors
The certified copy of the house registration of the authorized directors
Title deed of the condominium unitThai Visa Requirements Please note that whilst we believe the below information is accurate, it is recommended to verify requirements with the Royal Thai Embassy before travel.Many Non-Thai residents require a visa to stay in the country for more than 30 days. However, most African countries require a visa to enter Thailand – Cyprus, Czech Republic, India, Maldives, Oman, Poland, Russia, Saudi Arabia, Taiwan, Ukraine are allowed 15 days under the visa exemption. A Non-Immigrant Visa is valid for up to 90 days, but can be extended for up to a year at a time, depending on eligibility criteria. Retirement visas for individuals over 50 years old are readily available, subject to certain other criteria, tourist visas for stays of more than 30 days and less than 60 days and work permits for those with specific skills can be applied for via the Thai Embassy or consulate in your home country.Use An Investment Firm Or Relevant Developer To Assist You With The Purchase of Your Koh Samui Property Well you can’t say we didn’t warn you that purchasing property in Samui would be extremely complicated which is why we strongly suggest that you use a real estate agent or investment firm to assist you with the purchase of your Samui property. Often times the developer or agent that you are purchasing the property from will do everything they can to make this process as affordable and convenient as possible. After all, it’s in their interest to get this property deal done, and they should be more than glad to help you through it. Another reason it is beneficial to use the developer or registered agent, is because they already have the experience and connections to get you through this transaction. Because they’ve transacted several times before on Koh Samui properties, they know exactly who to go to and for what circumstance. It is very likely that they already have escrow arrangements established and banks in place to handle all of the paper work for you. In many instances, they may even use their company as the “buyer” and then issue shares in the company which then gives you legal ownership. This method of purchase avoids the issue of only being able to purchase 49% of a unit due to Thai law.

A travel website that does not sell travel but enables travelers to save money on travel as long as they do their own bookings is now offering services to internet travelers. This service is a unique addition to travel options for all travelers comfortable with direct bookings using a new type of travel document called a TopTravelVoucher.The operators of this service are addressing the issue of travel pricing which often includes a 10 to 25% mark-up to allow for the payment of travel agent commission to either wholesalers or retailers but when travelers buy directly from the provider (accommodations, tours or transportation) they can still pay the price inclusive of commission. To overcome the travel providers’ problems of showing multiple prices for the same products and services on their websites, they can now offer ‘fair fare prices’ by issuing TopTravelVouchers.Travel Providers are given marketing and promotion in exchange for their own travel vouchers, equivalent to or more than, the commission that would be payable upon sale of their various travel packages and services, so they still incur the commission cost on sales but do not have to alienate their distribution chain of wholesalers and retailers by offering a retail, wholesale or ‘direct’ price on their website. This is done by the voucher operator who sells their vouchers to travelers at deep discounts to their redemption values to be used when making direct bookings, hence a travel agent who does not sell travel, only travel vouchers and therefore is not a travel agent.According to the website information of the voucher operator, they are able to offer the ‘Fair Fare Price’ option because they do not have the normal operating costs of travel agencies such as shops, reservation systems, brochures, advertising and high staffing levels, but can still offer the traveler and the travel provider a service that is fair to all users.Before purchasing TopTravelVouchers, travelers are advised to check for quality and availability directly with the website of their travel selection and when satisfied, make a direct booking mentioning the voucher, then purchase the voucher. All vouchers come with a 100% money-back guarantee and in the event that the traveler is not happy with their travel purchase upon completion, the cost of the TopTravelVouchers will be reimbursed and the matter taken up with the provider.There are three levels of vouchers, $30, $50 and $100usd achieving various levels of savings but to give an example, at the time of this article there was a voucher valued at 1,500 euros (around $2,000usd) on sale for $100usd. If the vouchers are purchased outside of the USA the price is shown in the relevant currency. All vouchers are issued online and the provider is also sent a duplicate with the traveler details to encourage assistance in any travel itinerary planning of the traveler.So as not to deter expert travel agents and agencies from participation in this service the site invites them to identify any destination and activity expertise and to also offer vouchers to encourage travelers to seek out expert professional agents. Many retail agents offer their own travel packages and tours and many are comfortable in dealing with new clients from anywhere in the world over the internet, telephone or skype. The site cautions travelers to be careful when selecting ‘specialist’ agents who are not necessarily experts and who may have just taken a simple test operated by a tourism office or tour operator promoting their own destination or products.The travel selections with TopTravelVouchers are limited at present but the site operators are confident in the growth potential, but if you want to see what is available, you can find them at toptravelsites.

The current market is back in the doldrums and when the property market is falling, past experience tells us it’s a great time to bag a bargain and buy a house at a discount that you are unlikely to get in the coming years. Here’s a step by step guide on how to buy a property by haggling down the price.1. Get your finances sorted!The key success to securing a bargain property is to be able to buy quickly. This means you need to have either cash or as good as cash with a hefty deposit and a lender that is capable of making funds available in a few weeks, rather than the normal six weeks they take.2. Find a legal company which can exchange quicklyThe legals for buying and selling a home can take months. Much of this is down to poor conveyancing companies. So if you want to bag a bargain, it’s vital to ensure you work with a legal company that can work to tight deadlines and isn’t reliant on one person to do the work, in case they go sick or on holiday.3. Understand where to get property bargainsProperty bargains are secured when people are desperate to sell. There are lots of reasons why someone might sell a property at a bargain price which include:-(a) The three ‘D’s -Death, Divorce and DebtSadly things happen in life to homeowners that force them to have to sell their property at less than it’s worth. If someone dies, a partner might need to sell up as they can’t afford the property anymore or they need to move nearer to friends and family. If a couple aren’t getting on and divorce is the only option, not everyone can afford to stay in their family home, particularly with so many families having two working parents. Debt is a rough thing, particularly in these difficult times, so when it really bites, selling up and releasing the equity is sometimes the only option.(b) RepossessionFor a property to be repossessed, the procedure takes sometime – it can be six months or more. If the owner has been to court they will often be given/be advised to try to sell the property themselves to get the best price they can rather than have the property taken off them and sold on incurring increased fees for doing so by the lender. This can be a great source of bargains, but can be like finding a needle in a haystack, unless you are happy to hang around the courts. They are either sold through agents, to ‘quick sale’ companies or via local auctions.(c) Chain falls throughIf someone has sold their property and made an offer on another one, then their buyer pulls out, this can cause a chain to breakdown unless another buyer can be found at short notice, so a great time to be able to offer less than the property originally sold for – as long as you can move within a matter of weeks to replace the previous buyer.(d) New Build PropertiesDevelopers run businesses and businesses have targets to achieve. So at the end of the year, or even the half year, the sale of one property might mean bonuses all round for the developer’s staff. This is when dropping a property’s price is worthwhile. As is selling off the ‘last two’ properties to free up expensive site sales offices and staff.(e) Half and Half HomesAt the moment, buyers are making offers on properties which are either pristine and ready to move into or a wreck which needs a lot of work (new kitchen and bathroom, re-decorating). Half and half homes which are partly pristine and partly a wreck therefore just aren’t selling, so after a long time waiting for a buyer, vendor’s are more likely to drop their price. These properties can take a while to secure at a bargain though, as it often takes vendors more than six months to realise they aren’t going to get the price they had hoped.(f) Properties needing substantial workMany people want to do a up a property, but that doesn’t really mean they want to get their hands dirty. Most ‘do-er uppers’ are really looking for somewhere they can move into then upgrade the decoration and put in a new kitchen and bathroom. The real bargains come when a property needs gutting – or already has been, if it’s been fire damaged, wrecked by previous owners. So less buyers trying to compete to buy these properties means you are more likely to ‘bag a bargain’.(g) Properties with ‘undesirable’ neighboursMost properties are sold when they sit next to another property or overlook lots of beautiful countryside. Those though that have a pylon in the back garden, front onto a busy road (although less so in city centres), next to schools, or a dilapidated property, tend to sell for a lot less than those in a better location. In a falling market these are the toughest properties to shift, so you can make pretty low offers and if the vendors can still move on, your offer may well get accepted.So if you want to haggle to bag a bargain in the property market, it’s essential to sort out your finances, sign up a proactive legal company and find properties where vendors are likely to be ‘motivated sellers’ and let you have the property for less than they would when the property market is buoyant.