US Charge Options for Foreign Nationals: Eateries

[Abdul Wahab]

Investors looking to make their move in Western Australia now have the perfect opportunity. In November last year the Australian Government introduced the 'Significant Investment Visa', which represents an enormous opportunity for overseas investors to obtain in now to take advantage of the booming WA economy. The subclass 188 visa has an exciting new avenue to migrate to Australia. Under this visa, there's no age barrier, familiarity with English isn't required and there are no strict requirements for education and certain skills from applicants. The Visa is causing a rise in investment from Asian markets in Western Australia. The visa allows overseas investors with capital of at the least $5 million in Australia in which to stay the country for four years, with the chance of permanent residency. Beneath the visa investors can spend normally just forty days a year here within the four years should they choose or can stay and make this their home.

The Department of Immigration and Citizenship has decided not to enable the purchase of real estate as an accepted kind of investment. However, an ASIC managed fund a visa holder has invested money into, may spend money on property. Eligibility for the visa requires the investment in government bonds; with a privately managed company; or in managed funds involving Australian assets. The simplest selection for overseas investors is to put their money having an ASIC regulated managed fund. Such funds include real estate and infrastructure investment options, which is really a sound investment within our market and also the one that will probably provide good capital returns with little involvement with respect to the investor.

The Western Australian property market has long been a favorite selection for Asian investors, with the ongoing demand for natural resources Ideal homes golden visa in Western Australia cited as among the main reasons. Natural resources continue to supply the foundation for Western Australia's economy to cultivate well above the national average in the short to medium term, consequently boosting the property market. The Western Australian economy has remained resilient throughout the consequences of the GFC and will continue to experience growth on the rear of major mining investment - particularly in the LNG sector.

Koh Samui, Thailand has long been the locale of choice for paradise seeking foreigners from all parts of the globe. Its shimmering turquoise waters and sun bleached, white sandy bays are lined with bungalows, villas and resorts. Its happening night life with an array of restaurants feeds the epicureans and provides a magnificent back drop to beautiful sunsets and starry nights. It's no wonder that so many foreigners want to own property in Koh Samui, but like any property market in the world, it's important to understand understand the legal implications, visa requirements, and tax guidelines involved before deciding which property you are going to invest in.

You have to first feel certain that visiting and from the island has been made easy and convenient for tourists. In the end, they play an important part in assisting Samui's economy grow and helping tourists arrive at the island ought to be top priority. The most convenient way to get at Samui is by flying with Bangkok Airways from Bangkok, Singapore, Phuket, Pattaya, and Chiang Mai. There are 15 daily 80 minute flights between Samui and Bangkok and 4 weekly 90 minute flights between Koh Samui and Singapore. Alternatively, several ferries and catamarans run from Surat Thani or Don Sak on the Thai mainland. There are almost 10 daily departures between Samui and Ko Pha-Ngan.

The Samui airport is a unique and highly successful experiment in building an airport that is kind to the cultural and natural environments of a tropical island resort. Flying in, you get brief glimpses of outlying islands, streaks of surf, the wakes of small fishing craft sketched over the calm aquamarine sea. Smudges of coral reef dapple the water as you can be found in closer still. Then a coast of Samui appears. Two hundred and fifty kilometers of tropical hideaway scalloped by lots of bays rimmed in white sand, carpeted in lush textures of forested hill and coconut grove, Samui is the centerpiece in a small grouping of 80 other islands set in the Gulf of Thailand. Located 2km north of the main village Chaweng, Koh Samui Airport serves both domestic and international flights including Bangkok Airways, Thai Airways International, Berjaya Air, and Firefly. If you've already done your research and you are looking to invest in Koh Samui property, you really should know how the tax liability can impact your overall return.

All Koh Samui property owners in Thailand are liable for tax on rental income, which is based on either standard personal income tax (PIT) rates for "resident" tax payers and a at 15% PIT rate on assessable income for non-resident tax payers. A person becomes a "resident" tax payer if he or she spends a lot more than 180 days in virtually any tax year in Thailand. Thailand does not charge a separate capital gains tax for foreign buyers. All earned income from capital gains is taxed just like regular income. The greatest rate of income tax is currently 37% per year. When purchasing property in Koh Samui, it's quite standard for the purchaser to be solely responsible for the payment of most transfer fees in addition to taxes duly charged by the competent land office in experience of the registration of transfer of ownership of the property. This includes the federal government transfer fee, withholding tax and specific business tax as well as stamp duty and other costs and expenses arising out from the registration of the transfer of ownership to the purchaser.

Transfer fees are generally 2% of the registered value, stamp duty is.5% of registered value, withholding tax is 1% of the appraised value, and business Ideal homes golden visa tax is 3.3% of appraised value. Income tax is usually between 1-3% on Koh Samui property. There are no established rules regarding who pays the income tax while this really is simply another the main bargaining process during the property purchase as are typical other costs associated with the transfer of ownership. Tax on Rental Income is 10-30% of rental income with respect to the type of property. Lease Registration Fee is 1.1%

Unlike most developed economies where transferring money to and from bank accounts is relatively straight forward and easy, this is NOT the case in emerging markets like Thailand.