Popular questions about buying land on Koh Phangan

In recent years, investing in real estate in Thailand has become very common. The pleasant climate, excellent beaches, stunning nature attract thousands of investors. We have collected popular questions about how to buy land on Koh Phangan.

1. Can I, as a foreign citizen, buy land in Koh phangan?

Answer: According to Thai law, foreigners cannot directly own land. However, there are alternative ways to invest in land, such as long-term leases (usually up to 30 years with an option to extend) or setting up a company where Thai citizens own 51% of the shares.

2. What are the ways to legally own land in Koh phangan?

Answer: Foreigners can own land in Koh phangan through a leasehold, by setting up a Thai company with a majority of Thai shareholders, or by purchasing a condominium unit where foreign ownership does not exceed 49% of the total number of units.

3. How long does the land purchase process take?

Answer: The land purchase process can take anywhere from several weeks to several months. This depends on many factors, including checking the legal purity of the land, completing documents and obtaining the necessary permits.

4. What taxes and fees will I have to pay when purchasing land?

Answer: When buying land in Koh phangan, you will need to pay several taxes and fees, including registration fee (usually 2% of declared value), stamp duty, property transfer tax and possibly capital gains tax if the sale price is higher estimated value.

5. Do I need a lawyer to buy land in Koh phangan?

Answer: It is recommended to hire a lawyer specializing in real estate to conduct all necessary checks and ensure the legal purity of the transaction. An attorney will also help you understand local laws and protect your interests.

6. Can I get a mortgage to buy land in Koh phangan?

Answer: Mortgage lending for foreigners in Koh phangan is limited. In some cases, it is possible to obtain a mortgage from international banks or Thai banks, but the terms may not be favorable. Most often, purchases are made in cash.

7. What documents need to be prepared to purchase land?

Answer: You will need a passport, marriage certificate (if applicable), proof of origin of funds, and a number of documents related to property and land verification, including land ownership certificates and debt-free documents.

8. What is «Chanote» and why is it important?

Answer: A «Chanote» is a land title certificate in Koh phangan, which is the most reliable and legally protected type of document. Owners with Chanote have the right to full control and disposal of their property.

9. How to check the legal purity of a land plot?

Answer: Legal verification includes checking the history of the property, the presence of encumbrances, confirmation of the legal validity of documents and the absence of disputes or litigation. It is better to entrust this to an experienced lawyer.

10. What types of land laws exist in Koh phangan?

Answer: The main types of land rights include «Chanote» (full title), «Nor Sor 3 Gor» and «Nor Sor 3» (temporary certificates of ownership), and «Sor Kor 1» (a document to register land ownership, subject to further legalization).

11. What are the risks when buying land in Koh phangan?

Answer: The main risks include document falsification, legal disputes over land, difficulties with renewing leases or purchasing land, and changes in legislation. It is always recommended to carry out thorough legal due diligence.

12. Is it possible to buy land near beaches and tourist areas?

Answer: Yes, it is possible, but it should be taken into account that the cost of such land plots can be significantly higher. In addition, there are restrictions on construction and land use near beaches and national parks, so it is important to know all the details in advance.

These questions and answers will help you better understand the process and nuances of buying land in Koh phangan, providing a more informed and secure approach to investing in this beautiful country.

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