RU · Для российских инвесторов
EU / UK / US residential closed to Russian capital since 2022. Domestic Russian RE under capital flight pressure. Türkiye and Dubai have absorbed substantial Russian flows · pricing arbitraged up, market cycles unstable. Phuket is active but seasonal and tourist-tenant-concentrated. The Russian-investor outbound stack has narrowed.
Bangkok prime · 5 to 6% net, structural ASEAN positioning, Thai-Russia bilateral relations stable, Bangkok Bank and UOB Thailand operating standard KYC for verifiable lawful funds. 50-70K Russian / CIS expat community already established · legal, banking, and operational infrastructure exists. We work only with compliant capital and coordinate documentation throughout.
Your post-2022 alternatives
EU / UK / US property
Was 3 to 5%
Closed since 2022 sanctions · banking corridors restricted · existing positions facing forced disposal in some jurisdictions · KYC barriers extreme
Domestic Russian property
Under capital flight pressure
Ruble volatility · capital flight has driven outbound demand · tightening domestic regulation · limited diversification away from systemic Russia exposure
Türkiye / Dubai property (active alternatives)
5 to 7% gross
Türkiye: extreme inflation pass-through, lira volatility, oversupply in Istanbul. Dubai: pricing arbitraged up by Russian flows 2022-2024, freehold terms shifting, market-cycle volatility
Phuket property (Russian-active market)
6 to 9% gross (seasonal)
Seasonal occupancy (high-low spread 30-40%) · concentrated tourist tenant pool · tropical maintenance + storm season operational complexity · lower brand-residence inventory
The structural wedge
Sanctions-driven Western RE closure
Constraint today
EU, UK, US, Canada residential property markets are closed to Russian capital with limited exception · existing positions facing pressure
Thai treatment
Thailand has not joined the Western sanctions regime. Bangkok Bank, UOB Thailand, and other major Thai banks accept Russian and CIS clients with proper KYC documentation. Khorna only works with verifiable lawful funds and coordinates compliance documentation throughout the purchase process.
Banking corridor friction
Constraint today
International wires from Russian banks to Western banks subject to delays, scrutiny, occasional rejection · SWIFT cutoff for some institutions
Thai treatment
Routing via Türkiye, UAE, Kazakhstan, Armenia, or Georgia banking corridors works for legitimate transactions. Thai receiving banks issue FETF (Foreign Exchange Transaction Form) once funds arrive in foreign currency · this is the document the Land Office requires for foreign-quota title transfer.
Ruble volatility
Constraint today
RUB has shown 30-50% volatility against USD over 2022-2025 · domestic ruble-denominated assets exposed to currency erosion
Thai treatment
THB is one of the most stable EM currencies over a decade. Holding Bangkok property denominated in THB provides genuine non-RUB diversification with stable currency baseline. Yields collected in THB convert favorably back to RUB or any third currency.
KYC + AML diligence intensity
Constraint today
All cross-border transactions for Russian-origin capital face elevated scrutiny · documentation burden has increased 2022-2024
Thai treatment
Thai banks operate compliant KYC processes that work for verifiable lawful funds · employment income, business income, prior asset disposals all qualify with proper documentation. Khorna does NOT work with unverifiable or sanctioned-entity-linked funds. Process is structured for compliance from intake through closing.
Russian-Thai bilateral relations and tax cooperation continue under existing framework. Thailand has not joined Western sanctions. Khorna's process is fully KYC-compliant · we do not work with sanctioned entities, unverifiable funds, or politically-exposed-person flows that fail diligence. Compliant lawful capital is welcome and infrastructure exists end-to-end.
Visa pathways for Russian buyers
DTV (Destination Thailand Visa)
For whom
Russian remote workers, freelancers, IT specialists earning from international clients
Why
5y multi-entry, 180-day stays, 500K THB threshold (~₽4.5M). Pairs with 8-14M THB 1-bed in Asok, Phrom Phong, or Phayathai. Most accessible visa pathway for Russian passport holders.
LTR Wealthy Global Citizen
For whom
Russian HNW with $1M+ assets and $80K+ income · post-exit founders, family-office principals
Why
10y residency + 17% Thai-source income tax cap + foreign-source remittance exemption. The cleanest Russian-tax-residency unwind pathway for those building permanent ASEAN base.
LTR Wealthy Pensioner
For whom
Russian retirees with $80K+ pension equivalent (corporate + state combined)
Why
10y residency + 17% Thai tax cap. Pairs with 12-22M THB 2-bed Phrom Phong, Sathorn, or Riverside as full-residence base.
Thailand Privilege
For whom
Russian HNW seeking long-stay without LTR-level qualification · 900K to 5M THB membership
Why
Includes bank-account introduction service · particularly relevant for Russian buyers given the heightened banking-onboarding scrutiny in 2022-2025. The Privilege concierge route is often the cleanest.
Four Russian / CIS profiles we work with
The relocating Russian IT executive
Tech founder or senior engineer relocating from Moscow / St. Petersburg post-2022. ₽20M to 100M+ liquidity. Building permanent ASEAN base with family. DTV-to-LTR pathway. Typical purchase: 12-25M THB 2-bed Phrom Phong, Sathorn, or Asok.
The Russian post-IPO entrepreneur
Built and exited a Russian or CIS technology / e-commerce / SaaS business. ₽100M+ liquidity event. Looking for cross-border diversification base outside Western-sanctions exposure. LTR Wealthy Global Citizen pathway. Typical purchase: 18-40M THB 2-3 bed Phrom Phong, Riverside, or Sathorn.
The retiring Russian executive
Senior corporate retiree from Russian energy / banking / tech. ₽50M+ net worth + pension drawdown. Considering Bangkok as full-residence base · healthcare access + lifestyle quality + ASEAN positioning. LTR Wealthy Pensioner. Typical purchase: 15-30M THB 2-bed Sathorn, Phrom Phong, or Riverside.
The CIS family-office principal
Multi-generational Russian / CIS family wealth (Kazakhstan, Belarus, Armenia, Georgia origin). ₽500M+ net worth. Building post-sanctions diversification + IHT-aware structuring outside Western jurisdictions. Typical purchase: 30-80M THB branded residence Riverside, Sathorn, or Phrom Phong.
Why investors trust Khorna
Projects underwritten
50+
Across 11 prime Bangkok corridors
Data refreshed
Weekly
DDproperty asking-price scrape · live
Net yield audited
5 to 7%
Per project, not portfolio average
Buyer-side alignment
100%
We earn from developer side, not from you
Founder credential
Built by ex-Société Générale Hong Kong investment banker, top-ranked at FazWaz Thailand.
Alexandre Beaumont leads Khorna's underwriting and developer-relationship work. Twelve years of cross-border investment-banking discipline applied to Bangkok property. Etienne Alcouffe builds the data + product layer · live FX, scraped market data, proprietary scoring.
About the team →Methodology
Every data table on this site cites its source. Bangkok prime pricing scraped weekly from DDproperty + verified against CBRE Thailand + JLL quarterly reports. FX from Frankfurter API. Sovereign and macro from S&P / Fitch / Moody's published ratings. School and hospital data from registries (JCI, AEFE, Auslandsschulwesen, British Schools Overseas, Ookla Speedtest).
Khorna Score is published openly · 6-component breakdown on every project page. Khorna Verdict reasoning is published openly. We disclose where the convergence-thesis math has uncertainty.
See the methodology →Investor guide · PDF
6-page tailored PDF · home-market alternatives with after-tax numbers, the tax wedge analysis, visa pathways, our area + unit recommendations for your profile. Sourced data, published methodology.
No spam · just the PDF by return, and one follow-up if relevant.
Talk to us
Tell us your situation, your timeline, and your banking corridor. We model the allocation, route the documentation, and coordinate with KYC-compliant Thai banks · Russian-language follow-up available.
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