Joetys,
Is it true foreigner are allow to own only 49% not 51% any biz with Thai partner, has an offer send to me for a Resort in Kho Samui, asking price is around THB 420 million land is freehold, land size is around 0.6 hectare.
Thanks for the insight on Thai govt foreigner investment policy in advance......
Hey buddy, it is true that foreigners cannot be majority owner of anything. As for land, foreigners cannot even own 1 sqcm let along 49%. But a company with foreign shareholders can own land for business purpose however the business cannot have foreigner being the majority (in the first place no company can unless for special reason). Also any company that has foreigner as shareholder regardless of percentage is not allowed to seek financial help from banks in Thailand so everything has to be funded from overseas or the Thai partner(s) who may have his own financial facilities from local banks.
By the way almost all land in Thailand is freehold.
chucky, I am not familiar with resort investments so I am not able to help you here. However what I could do is give you an idea of land cost in Bangkok and I hope it will help you somehow.
Commercial land in downtown like Sukhumvit/Sathorn/Silom is anyone's guess because not much is available now and so if its available the prices could be vary a lot from the last land sale price. But I could give you an idea of the commercial land price in he Ratchayothin area which is also a very busy area north of Bangkok. If traffic is smooth its only 15 mins drive to downtown. (Ratchayothin is a junction between two major roads, Ratchada and Paholyothin this is a highly sought after commercial and condo residential area.)
0.6hectre = 6,000 sqm = 3.75 rai = 1,500 sqwa
Cost of 0.6 hectre = 460mil baht => 1 sqwa = 280,000 baht
Past two days I asked around and found out that prices there ranges from 150,000 to 250,000 baht per sqwa.
The above prices I gave you is only land and no building but then very often a developer will not care about the building as they will tear it down.
If I look at your information plainly, I will of course say the cost of 280,000 baht per sqwa is very high and after all its in a remote island however its not a fair comparison as you are talking about buying over a business.
I believe you have your way in making your business decision while I hope my info can be of a small help to you.