Based in Phuket, clients International Law Office Patong Beach Co., Ltd are a mixture of people representing 30 countries and coming from all walks of life. Their vast clientele consists of businesses and individuals that require legal counsel. Since ILO, is owned and managed by people from both Thailand and the western world they pride themselves on being flexible enough to assist such a diverse client group in cultural, legal and family matters. They have been called upon to negotiate contracts, settle disputes and act as intermediary in matters concerning our clients and the Thai authorities.

Mr. Friedrich Sam Fauma, Senior Partner, Director, Advisor at ILO 

WILLIAMS MEDIA sat down with Mr. Friedrich Sam Fauma, Senior Partner, Director, Advisor at ILO to learn more about the business' journey and the property law landscape in Thailand. 

How did you begin your career in the real estate industry?

About 22 years ago we opened a Real Estate Agency in Phuket/Patong in the name of International Real Estate Co., Ltd. and also our law firm International Law Office, patong Beach Co., Ltd. handling lots of property related cases and registrations. About 8 years later we sold the RE Agency.

What are some of your career highlights from your time in the industry?

To establish the secured leases on phuket and work with developers on the island giving the best possible security to foreign buyers.

In your opinion, what are some of the biggest issues facing the property industry in Thailand and specifically Phuket at the moment?

The legal situation of foreigners not being allowed to own land (with some exemption which are not applicable to the normal buyer), the strong Thai Baht at this time, the quantity of project and properties for sale. 

How has the industry changed in the time since you have been involved with it?

The market changed very much from buyers coming from Europe, America and Australia, to Russians and now Chinese. The price increase from 20 years ago to 10 years ago and current prices.

What changes would you like to see over the next two to five years to help business improve?

To give foreigners at least he right for a 90 years lease on land and/or limited right to purchase land for residential use

What basic advice do you have for people who are looking to purchase property in Phuket?

To use a well established law firm for their Due Dilligence and legal set up of the property purchase.

What do you believe is a unique factor in doing business in Phuket?

The Island, the people here is an advantage, the unique factor of doing business is surely not the legal situation.

What’s your outlook for real estate law over the next few years?

Stagnation, we have too many properties for re-sale, investments been made with lots of loans thus people can’t afford the repayments. More properties to come on the market at reduced prices.

To get in touch with Mr. Friedrich Sam Fauma, Senior Partner, Director, Advisor at ILO, email via the contact details below. 

Source: International Law Office

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