Poseidon Malee Seaview off plan villas in Koh Lanta Thailand
About the area
Koh Lanta Yai is the central Island, 27 km long and 8 km broad. A mountain range runs right through the centre of the island. Beautiful golden beaches stretch up the western side of the island, meeting the national park at the southern end.
Koh Lanta Yai is newly discovered island in the Thai archipelago and the government has been developing this island, improving infrastructure. There are also plans to build a bridge to the mainland. The prices of properties are relatively low, but over the last few months’ prices have begun to rise.
The new development
The development is set in 17000m2 approx of beachfront land located on Long beach Koh Lanta. The view from this plot is of the Phi Phi Islands. There will be 36 plots available that range in size from 220-600 m2. The plots are freehold and inclusive of the company that owns the land plot and villa.
Prices range from 2 800 000 THB (£41,600) to 10 500 000THB (£156,000)
Special offer
Reserve before April 25 and get 5 years’ service charge and company registration included free - to a value of 225 000 THB
Ownership
Foreign Investors cannot own land in Thailand according to current Thai law, so the developer will start up a simple company for each plot, which means that the buyer will own both the plot and Villa through a company. When selling the villa in the future, the company with plot and Villa is sold as a package. In the future a freehold villa will have much greater value than a leasehold villa.
Service charge
As the community has not been set up the following are assumptions.The service charge will include the swimming pool, all external electrical items, the garden, security, electricity to general villas and general management of the area. This has been estimated to cost approximately 225 000 THB/Villa.
Construction schedule
The development has been zoned to minimise disruption to each area of the development.
Estimated construction starts in May 2006 for the first phase, November 2006 for the second phase and May 2007 for the third and final phase.
Poseidon Villas is being marketed by Poseidon Villas Co Ltd
Andrew Wasylyk said,
April 25, 2006 @ 5:16 pm
As regards setting up a company to buy property i was under the impression that the expat could only hold a max. of 49% in the company while 51% of the company had to be held by Thai. nationals.
It does not take a rocket scientist to work out the mathematics if something goes wrong.
The expat is left high and dry ???? or is their something that i am missing ????
Please advise.
Regards
Andrew Wasylyk
Mattias Terngård said,
April 25, 2006 @ 7:42 pm
About company registration in Thailand.
It’s true that as a “falang” (alien) only can own 49 % of the company and the Thai nationals will owe 51 %.
But you set up the company in A & B shares witch means that you will have A shares and the Thai people will have B shares. It means that the Thai people need to have 10 shares per vote and you have 1 share per vote.
This means that you will be in big majority.
You are the only one that have right to sign paper in the company.
The most of the times the Thaipeople doesnt even know wich company they agreed to be a shareholder in.
Regards
Mattias Terngård
You use 5-6 different Thaipeople to join your company and they will not know about eachother.
This is today the most safe way to “buy” land and property in Thailand and it’s also very easy to sell the company with land and villa later for the customer.
You just need to change director in the company and the tax you have to pay is very low.
Stuart said,
April 26, 2006 @ 5:43 am
It seems that what Mattias is saying is very true. I have looked at a lot of Thai property and spoken to a number of different law firms who specialize in foreign investment in land and housing. From my last investigation, you need seven people to “share” in the company of which four would have to be Thai Nationals. Then it’s very simple to set up a contract by which they accept you as the only Director with the power to buy and sell etc and they have no claim of ownership - essentially silent partners.
This is an extremely common practice in Thailand and in fact most reputable law firms have their own partners and associates who generally take on the silent roles.
This is a much better and safer option than buying a leasehold property and in terms of value for money, just do a search of similar developments in Phi Phi, Phuket and Koh Samui - all of which are not that far away.