Foreigner’s Guide: Buying Land In Cambodia

Foreigner’s Guide: Buying Land In Cambodia

Cambodia, Condos for sale Cambodia, FAQ, Money, News, Phnom Penh, Phnom Penh Real Estate for sale, Pre Construction, Project Management
Foreigner’s Guide: Buying Land In Cambodia In previous post, we talk about foreigner’s eligibility on buying condominiums in Cambodia and what are the things to look out for. But however, if your intention is to invest in real property such as buying grounded apartments or buying land in Cambodia, the following options will show you how it is possible to buy almost anything in Cambodia. Buying Real Property in Cambodia Under Cambodian Land Law, foreign nationals cannot hold a 100% stake in real property within the Kingdom (except for this case mentioned). However, legal mechanisms and documentation may allow foreigners to fully control the purchase, sale and use of real property in which they have invested, and benefit fully from any profits they make. There are basically 5 Options for…
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Pattaya and the Eastern Seaboard to undergo 1.5 Trillion Baht Transformation

Pattaya and the Eastern Seaboard to undergo 1.5 Trillion Baht Transformation

Money, News, Pattaya, Project Management, Sattahip, Thailand
Author : Colin Hasting(Big Chilli) New economic ‘corridor’ will benefit tourism and next-generation industries by David James  MAJOR changes are coming to Pattaya, Rayong and Chachoengsao in a highly ambitious government development project worth some 1.5 trillion baht known as the Eastern Economic Corridor (EEC). New highways, double-track railways and a comprehensive makeover of existing ports will turn the area known as the Eastern Seaboard into a major economic zone in ASEAN. Some 500 billion baht will be invested in target industries over the next five years, along with 400 billion baht on infrastructure, another 400 billion baht on housing, schools and hospitals, plus 200 billion on “quality tourism.” According to the Office of the National Economic and Social Development Board, the Eastern Seaboard is now Thailand’s major industrial production base,…
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Buying a condominium in Thaland | Legal considerations and FAQ

Buying a condominium in Thaland | Legal considerations and FAQ

Condo for sale, Condo For Sale In Kamala, Condo for sale in patong, Condo For Sale In Phuket, FAQ, Inspection Visit, Kamala, Money, News, Phuket, Project Management, Property Management, Thailand, Thailand
BUY, SELL, RENT, OWN AND MANAGE A CONDOMINIUM IN THAILAND - legal topics for expats. What is a condominium, buying a condo in Thailand, who can own a condo, transfer tax, inheritance, management of a condo, leasehold condominium, sale and purchase and more. Practical legal questions, Thai lawyer answered. Just scroll down to a subject and click read more...   Condominium FOR sale in Thailand Are all apartments in Thailand governed by the Condominium Act? There are 2 types of residential apartment buildings in Thailand: condos registered under the Condominium Act with a condominium license and apartments not registered under the Condominium Act. Only condominiums registered under condominium laws and licensed with the Land Department offer full individual apartment unit ownership (with a government issued unit ownership title deed), and…
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Miramare is a private condo project in Phuket Thailand for sale by developer

Miramare is a private condo project in Phuket Thailand for sale by developer

Condo for sale, Condo For Sale In Kamala, Condo for sale in patong, Condo For Sale In Phuket, Inspection Visit, Kamala, Money, News, Phuket, Pre Construction, Project Management, Property Management, Thailand, Thailand
Miramare is a private condo project in Phuket Thailand for sale by developer has been carefully designed to welcome the bright light, warm breezes and vibrant colours of the tropics. PAH Holdings offer Home Inspection Visit for you to see befrore you invest. The style is modern tropical – a modern architectural form with the best and latest technology, beautifully complemented by natural materials. The location on the beautiful island of Phuket makes these condos for sale a great investment. The design minimizes the barriers between indoors and outdoors through the use of wide glass doors that slide open to allow tropical breezes to penetrate from the shaded balcony to every part of your home. Mira Cielo: Price starting from 21,600,000 THB Type C (Penthouse Duplex) Unit C1 C4 Total…
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Absolute Twin Sands – Property Inspection Visits to Phuket Thailand

Absolute Twin Sands – Property Inspection Visits to Phuket Thailand

Beachfront Lots, FAQ, Inspection Visit, Kamala, Money, News, Phuket, Pre Construction, Project Management, Property Management, Retirement, Thailand, Thailand, Turn Key
Absolute Twin Sands is a stunning resort with panoramic ocean views, contemporary apartments and first class service, all in a spectacular peninsula setting minutes from Patong on the stunning island of Phuket. Nestled between two perfect white sand beaches, the apartments and penthouses enjoy breath-taking views of the Andaman Sea. Location - Situated by the sea, this spa resort is 0.6 mi (0.9 km) from Tri Trang Beach and within 3 mi (5 km) of Patong Beach and Bangla Night Street. Banana Walk and Jungceylon XD Theater are also within 3 mi (5 km). Every suite at Absolute Twin Sands has been finished to the highest standard and offers everything you desire. Every apartment has a fully-equipped kitchen, double shower and private balcony and also boasts the latest in audio-visual entertainment with…
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How to purchase Edijo Land without heartache

How to purchase Edijo Land without heartache

401k, Bank Accounts, Beachfront Lots, Ejido, Land for sale in puerto vallarta, Mexico, Money, News
Can I Buy Ejido Land? Yes, it is possible to safely purchase ejido land. However the process of purchasing ejido land is exact and it must be completed correctly. It is never recommended that anyone purchase ejido land without qualified legal assistance. Is it Safe? I’ve Heard Rumors. Yes! Purchasing ejido land is safe, however most investors are sure to hear a different story. Ejido horror stories have been broadcasted by investors that have failed to understand the importance of working with a qualified attorney. Most of these ‘horror stories’ seem to originate from Baja California, and date back to the mid 1990’s, just after the Mexican constitution was changed to allow for the privatization of ejido land. Unfortunately for investors, this was a time when the entire concept of…
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Understanding Capital Gains TAX in Mexico

Understanding Capital Gains TAX in Mexico

401k, Bank Accounts, Ejido, FAQ, Mexico, Money, News
Capital Gains Tax Capital gains tax law in Mexico states that tax is owed on the profit you receive when you sell your home or property. By law, you have two options when it comes to capital gains and you can use whichever is the better of the two options for you: 1. You pay 28 percent* of the net profit. (There are a variety of deductions included in this option.) 2. You pay 25 percent* of the gross sales amount with no deductions. Although a 28 percent capital gains tax may seem high, Mexico does have several laws and procedures that will assist you in maximizing your cost basis, thereby reducing your net profit and lowering your capital gains. The key is to understand these laws before you buy,…
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Manifesting my construction to save on Capital Gains Tax in Mexico

Manifesting my construction to save on Capital Gains Tax in Mexico

401k, Bank Accounts, Beachfront Lots, Ejido, FAQ, Land for sale in puerto vallarta, Mexico, Money, News
What is manifesting? Manifesting is simply recording the amount of money spent on a home’s construction or remodel, in order to add it to the Owners’ cost basis. Adding to your cost basis is the key to reducing your capital gains tax. Proper documentation and manifesting your construction are vital to building your new home. Why do I need to manifest my construction? When you sell your home, the manifested cost plus the cost of your lot stated in your trust (title), will be used to determine the basis for capital gains tax. If you have not manifested your construction, Mexican tax law will not recognize your construction costs and you will not be able to use them as a deductible expense. All of your receipts, cancelled checks and bank…
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Mexico has high taxes on rental income

Mexico has high taxes on rental income

Mexico, Money, News
INDIVIDUAL TAXATION Nonresident individuals are liable to pay tax on their Mexican-sourced income. Married couples are taxed separately. INCOME TAX (Impuesto Sobre la Renta, ISR) Income earned by nonresidents is taxed at progressive rates. INCOME TAX 2013 FOR NON-RESIDENTS TAXABLE INCOME, MXP (US$) TAX RATE Up to 125,900 (US$8,393) 0% 125,900 – 1 million (US$66,667) 15% Over 1 million (US$66,667) 30% Source: Global Property Guide   However, nonresidents may be liable to pay 25% withholding tax on their Mexican-sourced income. RENTAL INCOME There are several ways to tax rental income earned by nonresident individuals in Mexico: (1) through the 25% withholding tax and (2) by electing the business income option. 25% Withholding Tax Gross rental income from the leasing of real estate, property and time-sharing services by a nonresident individual…
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MEXICAN CORPORATION VS. BANKTRUST

MEXICAN CORPORATION VS. BANKTRUST

Bank Accounts, FAQ, Mexico, Money, News
Advantages of Mexican corporation vs. banktrust for real estate ownership There was once a time that Canadians or Americans were restricted from buying property in Mexico that was 50 km from any coastline or 100 km of a neighboring country. This zone meant that nobody other than Mexican nationals were allowed to invest in lands located within these areas. However, times have changed and the coastal and border areas that used to be restricted from foreign investment have opened. This occurred when the government decided to start issuing something called a fideicomiso, which is basically a banktrust. The fideicomiso was created to allow foreign investors to participate in Mexico´s rapidly expanding sectors while exercising complete and legal control over their investments while complying with Mexico’s investment laws. A banktrust is…
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