In our previous article, we discussed the importance of investments and some investments that one can make in preparation for their retirement. We also mentioned the mutual fund as one of the best vehicles for long-term investment for any retiree, or for anyone in general. more
Retirement has been a topic in this blog for sometime now. We all know how touchy this subject can be, but it’s also something that we have to tackle as it’s a very important milestone for everyone’s lives. more
Phuket is more than just an island paradise for tourists. It also represents an excellent hub for investment in the country, especially for foreign expatriates who are simply looking to make good use of their retirement money.
Considering that Phuket attracts a great majority of foreigners, it makes sense that foreign expatriates will want to get on in the market of providing for the needs of their fellow foreign retirees as well as tourists. After all, you know your countrymen’s tastes and preferences best for you are one of them.
What are the opportunities for investment that foreigners can invest in in Phuket, Thailand’s popular island province?
Real estate remains the best opportunity for foreigners to earn money from. If 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 a company or purchase an existing real estate property in Phuket. There are so many commercial opportunities involving real estate in the island.
One can also earn money in residential real estate properties, particularly condominiums. Condos are the only forms of real estate that foreigners can invest in as individuals. Thai law is strict about that – foreigners cannot purchase land unless they are bought under the name of their spouse or in the name of a corporation.
What can one do with a condominium? Aside from that fact that they could live 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 property every month. It’s almost like rent, but leases are for the long term and usually involves more capital.
The hospitality industry is a good market to enter into if you’re looking to invest money into the Thai economy, especially through Phuket. Many tourists visit the area, and there’s no shortage in demand for establishments that can cater to their needs.
It might be a good idea to find some local, together with foreign, partners who can help you out in establishing a business in this market. It would require fusing together a significant amount of capital and expending an immense amount of time in pursuing the requirements. However, it would be well worth once the business starts seeing a return of investment (ROI) for you and your partners.
Take note that you shouldn’t short-circuit the law in anyway. When you get local partners, make sure that you give them voting rights and you let them fuse their own capital into the business. Never fall for the trap of nominee shareholdership, as it is totally illegal for foreign businessmen to tap into.
There are so many other opportunities that foreigners could invest in once they set their sights into retiring in Phuket. That’s the beauty of Thailand’s most popular island province – not only do you get a wondrous “paradise” to live and breathe in, you also get an excellent market that you can invest in and earn money from.
Want to read more articles like this? Check our Blog site.
Phuket has always been the Kingdom’s most popular island. It’s already a known fact that tourists flock to the island in droves to enjoy the island’s various offerings. However, it’s also know that the off-peak season is a time when business gets really slow in Phuket.
However, it appears that the ongoing sale of the high-end Royal Phuket Marina is defying established theories and learnings about doing business in any area in the slow season. That’s because, after announcing a Master Plan in July that calls on investors to put in money on the 200-rai high-end property, transactions are hitting a high despite them taking place in what is considered as slow season in the island province.
It was reported back in July that Mr. Gulu Lalvani, sole developer of the project since 2005, is looking to infuse a total of THB5 billion in investments to expand the Marina. The project has successfully established itself as a prime yachting destination, but Mr. Lalvani is now setting his sights on transforming the Marina into a “lifestyle destination” as reported back in 2015.
The plan, which is dubbed by parties privy to the details as the “Master Plan,” seeks to add hotels and resorts and a beach club to the existing yachting facilities. In addition, Mr. Lalvani and his partners want to introduce a family-friendly resort project as well as a convention center for businesses into the vast real estate project.
When the sale was first reported in July, it was indicated that Mr. Lalvani is giving space for new investors to pitch in and provide the needed capital for the expansion. Investors seemed to have heard the call, and found the project satisfactory given the response to the sale.
Royal Phuket Marina’s managing director, Michael Ayling, attributed the interest to the project’s prime location and its extensive amenities. These, he said, are factors behind the immense investor response to the announced sale of the Marina. Ayling even said that he expects a significant increase in the actual value of the Royal Phuket Marina once the sale concludes, and the planned expansion activities push through afterwards.
Ayling also revealed that their company has seen three re-sales of properties, and said that the expected increase in property value is directly responsible for that response.
The Royal Phuket Marina began operating in 2005. At that time, Mr. Lalvani, who is now Chairman of the Marina, was the major investor. His efforts, together with his partners, have resulted to the development of the immense property and resulted to berths for over 110 vessels. The Marina also has a hardstand enough to accommodate 40 vessels.
The Royal Phuket Marina also has its share of accolades. In February this year, the Marina received the first ever “Luxury Yachting in Thailand” award.
Want more articles like this? Check our Blog site.
Photo from Gazette file of Phuket News