Check back reguarly for newly added answers to frequently asked questions (FAQ).

1. How can a foreigner own a Condominium in Thailand?

A foreigner can own freehold a condominium in Thailand because a condominium's title deed (Chanote) does not have any land registered to or associated with the condominium. The land is owned by a Juristic Persons Group (Association) registered with the Thai Government and made up of a majority of Thai citizens.

Foreigners own 100% freehold title of their unit, while they co-own or get the right to use all registered common areas such as the swimming pool, hallways, and parking area.

Buying a condominium is perhaps the simplest and easiest option available to foreigners.

2. What is the Sinking Fund used for?

The sinking fund is a one-time payment of 500 THB per sqm and is a reserved fund for management and maintenance of the common property.  It will be used to cover unexpected expenditures that may arise and will be managed by the condominium juristic person under the supevision of the property management company, Samui Escapes.    The sinking fund fee is to be paid on the date of transferring the ownership of the unit.  Further, the sinking fund will receive monthly contributions of surplus funds that may exist from the monthly maintenance fee of 45 THB/sqm.

3. What is the Standard Payment Schedule?

100,000 baht reservation (held in escrow; refundable for the first 14 days)

20% upon start of construction
30% 30 days later
15% roof structure complete of Building E (main communal facility)
15% swimming pool structure
15% roof structure complete of Bulding B
5% upon transfer

* Flexible payment options available

4. What is the construction schedule?

The entire Samui Emerald Condominiums project site including Buildings A, B, C, D and communal areas (ie Building E) will be completed by March 2011.

5. What does Turn-Key Solution mean?

The term Turn-Key (turnkey) solultion is our way of describing that once you purchase a Samui Emerald Condominium it's ready for immediate use (ie. fully furnished). This means residents' can start living in their new property or generating rental income from their investment from day one.

Once construction of the project is complete and all legal and administrative matters dealt with, you will receive the 'Key' to your new property.