We are a breed of dedicated, creative, and dependable real estate professionals offering the finest luxury villas for sale on the island. The island is widely famous for its gorgeous beaches and turquoise waters, panoramic mountain and sea views, vibrant nightlife, luxury accommodations, and high-end island living. Phuket has a long history of welcoming foreign traders, so it’s not surprising why the island remains most well-known for its undeniable hospitality and thriving tourism. Bask in the sun and enjoy the island life while embracing the luxury and comfort and convenience the city life has to offer-and more. We are confident to deliver only prime/excellent service to our valued international clients that extends and captivates even the hearts of the locals. Time to breathe in the tropics, lie under the palm trees, sun-kissed and with sand on your feet. Ditch the tedious paperwork. Our team of experts is ready to guide and present you with the best options, advice, and unparalleled knowledge to make the buying process as seamless and smooth as possible. Let us handle the hard work for you. Consult with us now!
Most countries have a law on the books to ensure that, before any type of construction or development takes place, an impact study is done to determine whether or not that project would have any lasting and detrimental consequences for the surrounding area. EIA approval is certainly important for a developer, but it is only indicative that the project is green lighted to proceed. This is especially true if the developer is selling off-plan, and the land is still covered in rocks, trees or even weeds. The assessment may have an expansive scope, taking in ground pollution, noise pollution, air quality, treatment and removal of waste water, and its impact on the surrounding environment (including how neighbours may be affected and if the project is acceptable from a visual perspective). It does depend on the size of the development, and does not apply to all projects. Projects are only given a go-ahead if they are in compliance with the requisite regulations.
This means throughout the entire process, not just at the time of application. Sadly, approval can change literally like a change in the weather. This could result in a change in the environmental assessment. If it is possible to change design to comply with the regulations, it may still be possible to complete the project. If a condominium is being built for maximum views atop a hill, unusually heavy rains could bring about run off of the soil. If not, it may be forced to be abandoned. If a project is cancelled, investors might struggle to get their money back (at least quickly). If development is brought to a halt by a regulatory decree or decree of a ministry, a developer who has received the administrative order may claim for compensation with the government. A developer may not be responsible, and they may be powerless to help. Buyers who have committed money to the project may then file their own claim – this time against the developer. While they may see receive compensation, they may also still be waiting until beyond the time they were meant to move into their new home. This meant that some “early birds” (those investors who had bought units off-plan in the very early days) were left out of pocket. Any company not already in possession of a building permit were not allowed to continue with their development. It is safe to say that developers who are interested in safeguarding the environment are acting in everyone’s best interests.
Is it Legal? As long as the company continues to exist, the ownership remains in place in perpetuity. However, it is imperative that the company must be established legitimately from a legal and compliance perspective. This involves mainly tax privileges, and some exemptions on company ownership by foreigners, but it may also grant permission (called “promotion”) for land ownership. And if the foreigner has control the company, it means he/she also has control of the company’s assets, including the land. This inevitably means that the foreign spouse has no claim to the property. These avenues to land ownership are obviously only available to people of means. If the husband then constructed a villa, he could own the “bricks and mortar” through a right of superficies. In this way, the husband could protect his right to live on the land, at least for the term of the lease, should the wife decide to sell the land.
For new developments the sale and purchase agreement will also outline the taxes and other payments due, such as a furniture package, freehold upgrade costs, and transfer fees/registration costs. Additional expenses (which may apply to condominiums and sometimes even villa estates) such as the sinking fund and maintenance fee will also be included in the agreement. The sale and purchase agreement will confirm the reservation deposit you have already paid, and this will be deducted from the total amount due. As mentioned above, transfer fees and taxes are usually shared equally between the buyer and seller, but this is not always the case. Once your lawyer has checked everything and gives you the thumbs up, the next step should be ensuring that you bring the money into the country correctly. Again, it is important to have a lawyer to guide you through this in case you are being treated unfairly. The instruction on the bank transaction form should also state that the payment is for the sole purpose of purchasing a condominium.