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The building (the bricks and mortar) can be owned by a non-Thai national outright in their name in what is called the house registry which secures ownership indefinitely of the structure.
In Thailand non-Thai nationals cannot own land outright in their name. Land can be controlled through either a Thai Company or a long-term registered lease. The longest registered lease term by Thai law is 30 years and most developers will offer 3 terms for a total of 90 years.
A 30-year lease period is legally protected under Thai law and ownership cannot be disrupted. It is common for developers to offer an additional two terms of 30 contractually obligating a total of 90 years.
Prior to purchasing a leasehold property it is important to secure a copy of the lease agreement or get further clarity on these three points.
#1 - Who is the lessor? (an individual or a Thai Company) Securing a lease from a Thai Company offers much more security than a private individual.
#2 - Do I have voting rights as a Lessee? (Some lease contracts do not allow lessee to have voting rights)
#3 - Is there a succession clause in the lease agreement that will allow inheritance of the lease?
After you have found the right property at The Olive Village you have to follow these steps:
Unit selection and agreement of terms and conditions
Reservation Agreement
Reservation Deposit
Sales and Purchase Agreement
1st Contract Payment
Payment Installments
Snag List
Transfer
The Olive Village is located 1.2 km away from Cheap Shop and it can be reached within 6 mins by car.
There are many other shops situated in the area of The Olive Village, the 3 closest being:
- Roongrot Shop is 6.8 km away (an approx. drive of 18 mins.)
- Run Tattoo and Jewelry is 8.5 km away (an approx. drive of 22 mins.)
- PP Motor Bike Rental is 125 km away (an approx. drive of 4 hours 20 mins.)
The surrounding area, where The Olive Village is situated, offers a wide variety of restaurants. See the closest of them below:
- The Cabin Bar & Grill is 490 m away (a walk of about 7 mins.)
- The Sea Terrace is 1.4 km away (approx. 8 mins. by car)
- Cocohut Restaurant & Beach Bar is 1.5 km away (approx. 8 mins. by car)
Southland Bangkok hospital clinic is the nearest health facility, which is 1.4 km away (you can drive there in 7 mins.) from the project, while the closest schools in the proximity of The Olive Village are:
- Pure Flow is 1.8 km away (an approx. drive of 10 mins.)
- graduate school is 4.7 km away (an approx. drive of 15 mins.)
- Kite Surf School is 6.0 km away (an approx. drive of 17 mins.)
Samui Airport is located 124 km from The Olive Village and it takes about 4 hours 21 mins. by car or taxi (depending on the traffic) to get there.