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Prices
Current market value of a completed villa by the same standard is at least THB22,000,000.
Therefore our sales price of 16,000,000 baht per unit is making us very competitive.
Cool Blue Living
With 234 sqm of indoor/outdoor lifestyle space, Cool Blue
is unashamedly contemporary, open and bright with high ceilings in a
dynamic spatial composition. The 41 villas are carefully
positioned on the site to ensure unobstructed sea views from every
room. Internally, the marriage of light and space is specifically
tropical. In the living areas, light filters through oversized
louvres with the indoor to outdoor experience being enhanced by
doors that open fully onto deep covered terraces.
At the lower level, spacious twin master bedrooms, each with
elegantly appointed ensuite bathrooms, have their own generous
private terrace with horizon edge swimming pool. Dense tropical
landscaping surrounds each villa further enhancing the feeling of
privacy and being at one with nature.
Ownership
Structure
Direct ownership of freehold
property by foreign national is not possible in Thailand. Ownership
is achieved by a perpetually, renewable lease which offers the
lessee full control over the freehold ownership rights, effectively
equivalent to freehold ownership. The lease title can be used for
mortgage purposes to secure bank borrowing.
Ownership Structure The
benefits of leasehold ownership are:
- Villas in Cool Blue Samui are likely to be rented out.
If you had freehold ownership all rental income would have to go
to the Thai limited company which would attract tax at a rate of
30%. Any UK dividends would also be subject to tax at 20%. If you
lease the property you may be able to take advantage of the double
taxation agreement between Thailand and the UK.
- To onward sell a Thai limited company, you need to have
very good audit records and will need to employ a top name
accountant. Without this, the new buyer cannot be confident about
the company which could result in difficulties selling it (and the
property).
- You cannot lose ownership of the property under a lease
but you could lose ownership of a Thai limited company unless it
is run properly (this has already happened to some people). The
lease can always be converted to freehold…so there is no
risk.
- The lease renewals add infinitum, not just for 90
years.
- The buyer can later sell the lease offshore or a new
lease can be created (90 years) and sold on.
- It is much harder to forfeit ownership of a lease than a
Thai limited company (along with all your
investment).
- Our lease is relatively simple, cost effective, tax
efficient and financially safe.
So what makes this opportunity such a good bet?
Units are way under market value (by at least 25% modestly speaking.) The payment schedule is heavily back loaded with 50% held by the buyer until completion. A focus on design to make the most of the stunning location will ensure maximum resale values and a clear exit strategy (Hong Kong/ Singaporean / Chinese expat market.) Beach view land is a commodity in very short supply on Samui so these units will easily hold their price. The mortgage option makes this opportunity even better as the rental income is likely to negate the need to find extra cash in order to make those monthly repayments.
The project launched only two months ago and is now nearly sold out, which really says it all, so please do express your interest the soonest!
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