None the less the under-supply presents investors with a fantastic opportunity to obtain advice and guidance from a?? Phuket real estate lawyer before signing any documents. The under-supply right now is primarily on condos and apartments, but has stunted sales, which means there are still some great developments to choose from. Significant resale price growth is another arm to the opportunity presented by off-plan property, because the immediate value rise on completion is all the greater.

Liam Bailey, head of international research for overseas property specialists David Stanley Redfern had this to say about the Koh Samui opportunity:
“The latest news from Koh Samui does nothing more than make it an even better opportunity. Luxury villa prices rose by 50% per year in 2006 and 2007, and have always been expected to continue growing strongly. The current under-supply issues will only serve to maintain high demand, or even cause demand to grow for luxury resort property on the tropical island with some of the world’s best unspoilt white sandy beaches.”

Our law firm specializes in Real Estate transactions (Thailand property purchase, leasehold, condominium, villas, project development & licensing), Immigration (Thai Immigration, Citizenship, Permanent Residence, and Thai Business, Marriage and Retirement Visa applications), Tax and Accounting service, Litigation Services (Civil, Commercial and Criminal) and Investigation Services (Personal and Corporate).

Our UK and US Immigration specialists supervise and handle our Visa services. On the other hand, our licensed Thai lawyers and foreign attorneys and solicitors work together to offer sound legal advice and assistance with regard to Corporate & Investment Laws (including Foreign Business Law, Board of Investment ??? B.O.I, and Treaty of Amity).

We are confident that as an established full service, multi-lingual, multi-national law firm we can provide effective solutions for any legal strategies which you may undertake in Thailand.

Phuket Thailand is a premier destination and the most common destination for foreigners such as you. Phuket Thailand has some of the best beaches in Thailand and is at the forefront of some of the largest property developments in The Kingdom. With many property developments in Patong, Laguna and Karon more foreigners are looking for a legal advisor on the island than ever before.

We at Siam Legal with our head office based in Bangkok, have a full service office on the island of Phuket and have over the years we have transferred hundreds of Phuket villas and apartments across the island of Phuket to foreigners and have advised many of the legal pitfalls of buying property without seeking legal assistance first.

Thailand with its centralised administration has branch offices in Phuket for both the Land Office and the Ministry of Commerce. Having our head office in Bangkok where all the main Thai government offices are, we are better able to assist you in Phuket as all relevant documents can simply be forwarded from our Phuket office to the Bangkok office for attention.

We are registered with the Thai Law Society and our attorneys are registered with their respective bar councils in their home countries. Our Phuket office has been a regular feature in both the Phuket Gazette and various property magazines across Asia, so if you are in need of a Phuket Lawyer, Siam Legal in Phuket should be any astute property buyers’ lawyer.

Thinking of buying that property in Phuket, registering your wedding or obtaining a US or UK visa for your fiancee alternatively retiring in Thailand? No need to look further for a Phuket Lawyer.

Siam Legal Phuket is your only real choice when seeking the assistance of a lawyer in Phuket.
In Thailand, a foreigner usually purchases property in cash because under Thai law, financial institutions will generally not lend money to foreigners to buy property in the Kingdom. However, a loan for the purpose of purchasing property in Thailand may be granted to a non-Thai from the Bangkok Bank, Singapore branch. The conditions of financing property with Bangkok Bank are as follows:

1. A loan granted shall not exceed 70% of the total purchase price of property.

2. The Bank will hold legal mortgage over the property to be financed.

3. The loan tenure shall not exceed a period of ten years.

4. A loan shall be denominated in SGD (Singapore Dollar), USD, Japan Yen or EURO.

5. Interest rate varies, depending on the required currency of a loan. The current annual rates are 3.35% for Japanese Yen and 6.75% for USD; however, additional interest may be added. For instance, if a loan is agreed in USD, an annual interest shall be 6.75% plus 1.25% because a loan is paid in a currency other than that of the Singapore dollar. Please note that a loan is not available in Thai Baht.

6. Repayment of the principal, plus any interest, shall be made in monthly payments from date of the disbursement of loan.

7. Loan shall be drawdown only upon payment by the borrower of the difference between the purchase price and the loan amount, subject to completion of all documentations.

8. A flat rate of 1.5% of the approved loan shall be as the prepayment.

9. A processing fee is S$5,000 shall be paid upon acceptance of the bank’s letter of offer and S$2,000 or equivalent shall be refunded upon drawdown of the loan.

10. The borrower is to be responsible for all expenses including, but not limited to, legal and mortgage costs, valuation fee, and premium fire insurance.