Koh Samui Property – Important Information Before Investing

Koh Samui, Thailand

Koh Samui in Thailand is a popular destination for foreigners seeking paradise. The white sandy beaches and turquoise waters are surrounded by resorts, bungalows, and villas. The vibrant nightlife with its many restaurants caters to the gourmets, and is a beautiful backdrop for starry nights and sunsets. Koh Samui is a popular destination for foreigners who want to buy property. However, as with any property market, you should be aware of the tax implications, legal requirements and visa requirements before investing. Read more now on pool villas

How To Get To The Island

You must be confident that the travel to and from Koh Samui is easy and convenient before investing in Koh Samui real estate. As tourists are a key part of Samui’s economic growth, it is important to make sure they can reach the island. Bangkok Airways is the most convenient way to reach Samui from Bangkok, Singapore and other cities such as Pattaya or Chiang Mai. There are 15 flights per day of 80 minutes between Samui, Bangkok, and Koh Samui. Four weekly flights of 90 minutes connect Koh Samui with Singapore. There are also several catamarans and ferries that depart from Surat Thani on the Thai mainland. Nearly 10 departures per day are made between Samui, Ko Pha-Ngan.

The Samui Airport is an innovative and successful project to build an airport that respects both the natural and cultural environments of a tropical resort island. As you fly in, you can see the outlying islands and the waves, as well as the small fishing boats that are tracing their wakes across the aquamarine calm sea. As you get closer, coral reefs fleck the water. Samui’s coast appears. Samui, a tropical island of 250 km of white-sanded bays, lush vegetation, and forested hills and coconut groves, is the center of a group of more than 80 islands in the Gulf of Thailand.

The Koh Samui Airport is located 2km north of Chaweng. It serves domestic and international flights, including Bangkok Airways International, Berjaya Air and Firefly.

Koh Samui Property Tax Guidelines

You should be aware of the impact that tax liabilities can have on your return if you’ve done your research before investing in Koh Samui real estate.

Koh Samui owners are subject to taxation on rental income. This is calculated based on the standard personal income tax rates (PIT) for “residents” and 15% for non-residents. If a person spends over 180 days in Thailand in any given tax year, they are considered “resident” taxpayers. Thailand does not impose a capital gains tax on foreign buyers. Capital gains are taxed at the same rate as regular income. The highest income tax rate is currently 37%.

It is standard that the purchaser of property on Koh Samui be responsible for all taxes and transfer fees charged by the land office. This includes the government transfer fee, withholding tax, specific business tax as well as stamp duty. The government transfer fee and withholding tax, specific business taxes as well as the stamp duty and any other costs or expenses associated with the registration of transfer of ownership are included.

Withholding tax is typically 1% of appraised values, while business tax is usually 3.3%. Koh Samui’s income tax ranges between 1 and 3%. Income tax is not a set rule. It’s just another cost to negotiate during the purchase of a property. Tax on Rental Income can range from 10-30% depending on the property type. The Lease Registration fee is 1.1%

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