Haris & Associates Phuket Thailand Legal Blog

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Investment Oppurtunities in Phuket

Phuket and Chiang Mai is more than just an island and mountain paradise for tourists. In addition, it represents an outstanding hub for investment in the country, especially for foreign expatriates who are simply planning to} make good use with their retirement living money.

Considering that Phuket attracts most foreigners, it makes sense that foreign expatriates will want to get on the market of providing for the needs of their fellow foreign retirees as well as tourists since you know your foreign tastes, personal preferences and whats best for them.

Exactly what are the opportunities for investment that foreigners can spend money on Phuket or Chiang Mai, Bangkok or any Thailand’s popular island province?

Property Investment

Property Investment remains the best opportunity for foreigners to earn money from.If perhaps one’s resources are big enough, they can create a corporation together with other foreign expats and some local partners to create enough funds to start out a company or purchase an existing property in Phuket or Chiang Mai. Right now there are so many commercial opportunities involving real estate in the island and the northern province.

One can also earn money in residential real estate properties, particularly condo properties. Condos are the only kinds of real estate that foreigners can invest in as individuals. Thai regulation is strict about that – foreigners cannot purchase land unless they can be bought under the name of their Thai spouse or in the name of a corporation.

What can one do with a condo? Aside from that simple fact that they could stay in it, they could also put it up for long-term lease for other foreigners. Leases are legal contracts that bind people to paying you for use of your home every month. It’s almost like rent, but leases are permanent and usually involves more capital.

The Hotel & Accommodation Industry

The Hotel & Accommodation industry is a good market to get into if you’re looking to invest money in the Thai economy, especially through Phuket and Chiang Mai. Many tourists go to the area, and there’s no shortage in demand for establishments that can cater to their needs.

It would be a good idea to find some local, together with overseas partners who are able to help you out in establishing a companyin this market. This would require fusing collectively a significant amount of capitaland expending an immense amount of time in pursuing the requirements. However, it might bewell well worth once the business starts off seeing a return of investment (ROI) for you and your partners.

Consider that you mustn’t short-circuit the law in in any case. When you get local partners, make sure that you give them voting rights and you let them fuse their own capital in to the business. By no means fall for the pitfall of nominee shareholdership, as it is totally against the law for foreign businessmen to utilize.

There are so many other opportunities that foreigners could invest in as soon as they set their plan into retiring in Phuket. The beauty of Thailand’s most popular island & mountain region – not only do you get a wonderful “paradise” to live and breathe in, in addition, you get a fantastic market that you can invest in and earn money from.

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