Investment opportunity

A Healthy Investment In Your Future

With the tremendous success of The Spa Resorts in Koh Samui and due to the amazing following these resorts have developed over the past 17 years The Residence was 80% pre sold before we had completed the first model home. We have never advertised outside of our own extended family of regular clients and this has allowed us to retain the integrity and scope of our vision without compromise. About 85% of our buyers are interested initially in the investment aspect and see this as a great opportunity; about 15% are planning to live here on a permanent basis. This ratio is expected to shift to more permanent residences in the future as many investors begin to reach retirement age.

We have an extremely interesting and eclectic group of people that have chosen to invest and live here and we feel very lucky to have such fascinating neighbours. When you consider that for the past several years The Spa has had a consistent average occupancy rate of 80% and a regular clientele of over 5000 people from all over the world, it is not hard to understand the success of the initial offering.

Foreign ownership of property at the residences

There has been much speculation recently with regard to foreign ownership of land in Thailand.

To clarify the situation :

Technically speaking, foreign individuals are not able to purchase freehold land. Until recently the commonly accepted method for foreign real estate investment has been to form a Thai company which was partially owned and 100% controlled by foreign individuals.

Due to proposed changes to the Foreign Business Act, and Commercial Department regulations, this is no longer considered an option under Thai law.

There is however one sure method of foreign property ownership that has remained constant throughout all variations and interpretations of the law: buying land via a long-term leasehold agreement.

This is the only method whereby a foreigner can legitimately own land. The registered lease is renewable in 30 year increments, and can be renewed every 30 years. The actual structure (home) is owned outright by the foreign investor.

The Spa Chiang Mai Resort Co. Ltd . is a 100% Thai owned Co. The company has transferred ownership of the property to the newly formed ‘The Residences Co. Ltd.' This is a 51% Thai owned Company with 49% owned by the “The Spa Chiang Mai Home Owners Association Co. Ltd.” (A British Virgin Islands registered company). These two entities are the legal owners of the property and therefore fully comply with the foreign ownership laws of Thailand.

In addition, The Residences Co. Ltd. guarantees the renewal of this lease every 30 years in perpetuity.

This registered lease is fully transferable and may be sold, traded, bequeathed, or otherwise transferred at lease holder's discretion.

Shares in the “The Spa Chiang Mai Home Owners Association Co. Ltd.” (A British Virgin Islands registered company) will be issued and registered on a pro rated basis, effectively giving purchasers a clear title to their property.

 

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