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Purchase / Ownership Option for foreign buyers

The Developer offers both leasehold and freehold ownership structure to Thai and foreign buyers.

Leasehold :

Thai Government has made generous provision to foreign nationals who wish to buy property in Thailand by offering long term lease of land and building.
The foreign buyer can legally register individual 30 years lease (with an option for renewal under the same term). Such lease is well structured, registered with the Thai government and is protected under the laws of the Kingdom of Thailand.

Freehold:

Though foreign nationals may not generally own freehold land in Thailand but an exceptional is made for those who wish to invest and operate business in Thailand by setting up a Thai registered company limited (who can legally own the freehold). In doing so, the foreign national can own up to 49% of the company and would need a Thai national(s) becoming shareholder(s) in order to form a Thai limited company. The land can be owned freehold by the Thai company even if its directors are foreigners, and no work permit is required for the foreign director.
Information provided should be used for guideline only. We recommend that you seek the legal advice from a professional law firm if you wish to set up a company to acquire a freehold ownership at our project.

Purchasing Land and Villa at KALITA Residential Homes

The land and villa purchasing documents consist of : -
  1. Reservation Application.
  2. Long Term Lease Agreement (for leasehold) or Land Sale and Purchase Agreement (for freehold).
  3. Maintenance Management Agreement for Leasehold or Freehold buyers.

Leasehold Ownership:

Term of Payment : Under Construction
1st payment Reservation Deposit 1 %
2nd payment Sign Contract within 15 days 19 %
3rd payment Finished Foundation Post 15 %
4th payment Finished Concrete Structure 15 %
5th payment Finished Wall & Roof Tile 15 %
6th payment Finished Floor Finishing 15 %
Last payment Land Registration 20 %

Freehold Ownership:

Term of Payment : Completed Construction
1st payment Reservation Deposit 20 %
Last payment Land Registration within 30 days 80 %

Management Company

The Developer is fully committed to take good care of the common area for all buyers. When at least four (4) buyers have agreed and formed a company or legal entity to own and jointly maintain the common area, the Developer will further transfer the ownership right of the common area to the buyers’ company without delay.
The common area management expenses include:

  • Sinking Fund of BTH 150,000 one time payment
  • Common Area Service and Maintenance of THB 18 per sqm. of land area.
Further inquiry or information on the legal and contractual issues can be given by contacting our project legal counsel.
 
Copyright © 2005-2006 Newport Land & Development Co.,Ltd All Rights Reserved.
15/32 Moo2, Vises Road, Rawai, Phuket 83130 Tel : +66 7 628 9448, +66 7 628 9449 Fax. +66 7 628 9449 Mobile : +66 1 540 2391, +66 4 655 3339
Email : kalita_rawaicoast@yahoo.com
 
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