Word Definitions
| Term | Definition |
| BOI and BOI Company | The Thailand Board of Investment (BOI) is a government body aimed at encouraging foreign investment in Thailand. A Thai company can enjoy a range of benefits from being certified by the BOI. Major advantages of setting up a BOI company in Thailand include, but are not limited to: significant tax waivers, multiple work permits without the requirement of showing four Thai employees per permit, four hour processing times for work permits at One Stop Service Centre and even the ability to own land, even if the company is majority controlled by non-Thai nationals. |
| Freehold | Freehold is a form of tenure. Very simply, if a person has ownership of land, they have freehold tenure or freehold title. Effectively, they own the rights to that land for an infinite period.
Freehold property, which includes all immovable structures (commonly referred to as 'improvements') may be owned by individuals and companies as a sole owner (sole tenant) or by two or more people and/or companies as partners (tenants in common). Improvements may consist of things like dams and fencing, or an office block or apartment building. When being advertised for sale, freehold property is said to be 'for freehold sale' or simply, 'for sale'. Upon purchase, the title to the property is transferred to the new owner/s. |
| Gross Income | The amount of income (also referred to as total income or sales) before expenses are deducted |
| Net Profit | The amount remaining after all expenses have been deducted from total income (or gross income). If the amount is negative, net profit is referred to as net loss |
| Sale and Rent | Please don't confuse 'Sale AND Rent' with 'Sale OR Rent'.
Sale or Rent is very simply saying something is available BOTH for sale or for rent. Sale and Rent is commonly used to advertise and sell businesses, partnerships, franchises and commercial properties where there is a business component involved and that component is undertaken from a leased premises. So, Sale and Rent is where you buy the business component of a listing (this is the 'for sale' part) and then you rent the business premises (the rent part). Typically, in for Sale and Rent offers, the 'for sale' component includes assets like:
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