Well-informed investment decisions in Phuket Real Estate

Owning a property does not automatically guarantee a visa, but in some cases, it has the following advantages:

Investor visa: Foreigners who have invested at least 10 million baht in real estate, government bonds, or bank deposits can get an annual visa.
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Elite Visa: a program that provides stays of up to 20 years for a fixed fee. Owning a property can be an additional advantage for obtaining this visa.
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Residence permit: Owning a property may be one of the criteria when applying for a resident visa.

There are several types of visas required Thailand, depending on the purpose the.

Each visa provides different rights, including the ability to work, extend your stay, or invest in the economy:

Visa on Arrival (VoA): for 15-30 days for citizens of certain countries.

Tourist Visa (TR): for up to 60 days, renewable by 30 days.

Non-Immigrant Visa (Type B, O, or ED): valid from 90 days to a year, suitable for business, work, family visits or studies.

Retirement Visa: intended for people over 50 years of age with proof of financial stability. It is issued for 1 year with the possibility of annual renewal.

Investment Visa: issued when investing in real estate, the economy or a bank deposit. It is issued for 1 year with the possibility of annual renewal.

Elite Visa Program: provides a long-term stay in Thailand with multiple entries and other benefits. It provides a stay of 5 to 20 years, depending on the chosen program package.

Digital Nomad Visa: gives the right to reside for 5 years with multiple entries and exits, and it is designed for remote workers and freelancers.

A Permanent Residence permit can be obtained if you have lived in Thailand on a long-term visa for at least 3 years. The permit allows you not to renew your visa every 90 days and to move freely around the country. The main conditions are:
— stable income
— ownership of assets, such as real estate
— payment of taxes
Owning a property can strengthen your application.

Citizenship is more difficult to obtain. The main conditions are:
— living in Thailand for at least 5 years with a permanent residence permit
— financial stability and confirmed investments in the economy
Owning a property can be seen as one of the advantages, but it is not the main criterion.

Taxes and fees in Thailand depend on the type of property, type of ownership, and terms of the deal.

Primary real estate. The buyer usually pays fixed fees, the amount of which depends on the type of registration (Freehold or Leasehold).

Secondary real estate. Resale conditions vary depending on the original contract and the form of ownership. Standard taxes and property transfer fees apply to Freehold. Leasehold has simplified schemes with fixed payments.

Once you buy a property in Thailand, you may experience the following recurring costs:

— Utilities: electricity, water, internet
— Maintenance Fee: monthly or annual payment for the maintenance of common areas, such as swimming pool, security, cleaning
— Real estate tax: depends on the purpose of the property, ownership and value
— Repair and maintenance: minor repairs, such as maintenance of air conditioners and other systems
— The management company, if the property is leased: the management fee is calculated as a% of income.

Some banks offer mortgages for foreign buyers, but they are difficult to obtain. Usually, the bank requires a down payment of 30-50% and proof of income. But there is an alternative — installments from developers with a flexible payment schedule, which simplifies the purchase process.

Opening an account is not necessary, but it makes it easier to manage finances, pay utility bills, and maintain real estate. A bank account is needed to obtain a mortgage if it is issued through a Thai bank.

The concierge manager provides a wide range of services, including:

Booking and arranging services: car hire, restaurant reservations, tickets for events and excursions.
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Ensuring household comfort: organizing cleaning, minor repairs, delivering groceries and other goods.
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Leisure planning: assistance in choosing places for recreation, sports activities, or family activities.
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Transaction support: organizing property viewings, assistance in preparing documents, support at the transaction stages.
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Counseling on local life: recommendations for schools, medical institutions, fitness centers, children's clubs.

To find service personnel, you can contact a concierge manager who:

— will recommend trusted specialists from the agency's database, taking into account your requirements: language, work experience, professional skills
— organizes interviews and tests of candidates' qualifications
— will help with the conclusion of contracts and the preparation of legal documents