Condotels investment in Bali or Thailand with offshore company ?

[troubled soul]

Which will be the best offshore jurisdiction for Condotels investment in Bali or Thailand ?

Do you have any experience ?
Do any body recommended any good Condotels investment in Bali or Thailand ?
Any info about best project and buying process?

Thanks

 

[Nicholas Van Orton]

HI @azb1 , have had experience dealing with these guys: Thailand Property - 45,075 Condos & Houses For Sale | FazWaz - FAzWaz are a leading portal in Thailand. They are responsive and will be able to help and guide you to fit your needs (you can start by doing a quick search of their available properties, there are some areas with good (but not yet great) discounts that may be of interest).

I've been in your shoes, and I wouldn't suggest the over-hyped Bali at all. Leasehold is not my thing, and the fact of having a "local sponsor" to own the property it just not acceptable to me. Further, when I spent some good time there I also found I didn't like the people or the culture, and since they aren't too interested in foreigners buying or opening businesses there I easily moved away from it. That's just how I see it. Thailand on the other hand is more easygoing (as much as a soft dictatorship will allow for), and is open for business. With a UAE setup (foundation or single-purposes SPVs (specially those incorporated in ADGM) preferred) you have the ability to structure the RE purchases there and earn rental income in local THB which you may convert with a multi-currency account (I found no real issues with opening a bank account as a foreign entity for the purpose of starting a transaction in the country).

Hope this helps.

NVO

 

[JackAlabama]

azb1 said:
Which will be the best offshore jurisdiction for Condotels investment in Bali or Thailand ?

Do you have any experience ?
Do any body recommended any good Condotels investment in Bali or Thailand ?
Any info about best project and buying process?

Thanks
Click to expand...

I looked in Phuket at something like that 4 years ago.
Well, the due diligence of the project in question is key especially if it has yet to be built.
Buying process is often installments with a upfront fee, and monthly installments or milestone based installments.
Several lawyers can vouch for developers, just make sure to ask a bunch of them. Or general word of mouth or your own assessment.

I then dropped Asia (as I basically left that region) and went for a Spanish investment into bungalows for holiday rentals.
Buying process was a one time bank transfer.
That went all good until that nice corona lockdown nonsense made the investment basically bidless last year after it was up about 50% within 3 years. Now recovery is in place.