CN · 中国投资者
Mainland residential in distressed cycle, 70-year land lease structurally inferior to freehold. HK at 2% gross with elevated political-event volatility. Singapore ABSD at 60% for foreigners. Australia/Canada with foreign-buyer surcharges and increasing political friction on Chinese-origin capital. The CN-resident outbound stack has narrowed materially.
Bangkok prime · 5 to 6% net, freehold title, structural ASEAN positioning, Thailand's diplomatic neutrality, 1/8 of HK prime per sqm. Belt-and-Road / ASEAN-permitted legal frameworks for capital deployment. Mandarin-language relationship management at major banks. The cheapest investment-grade ASEAN allocation for legitimate Chinese capital.
Your CN-resident alternatives, today
Mainland residential property
Distressed, often negative real
Post-Evergrande demand crisis · 70-year land lease (not freehold) · enforcement uncertainty · oversupply in tier-2 and tier-3 cities · capital flight pressure on values
Hong Kong residential
2 to 2.5% gross at extreme entry price
Smallest, most expensive housing in developed Asia · BSD 15% surcharge for non-permanent-residents (relaxation conditional) · post-2020 political-event volatility · concentration in HKD-USD bloc
QFII / Stock Connect (offshore allocation)
Variable equity exposure
Equity not RE · capital-control-permitted channels but limited · concentrated in offshore-listed Chinese / HK names · no rental cashflow · subject to listed-market volatility
Singapore property (popular outbound)
1 to 2% net post-ABSD
60% ABSD wall for foreign buyers · micro-units at extreme prices · saturated HNW market · SSD 4-12% disposal lock-up
Australian / Canadian property (legacy outbound)
3 to 4% gross
Foreign buyer surcharges (8% NSW, 8% VIC, 25% BC, 15% Ontario) · land-tax surcharges · vacancy taxes · long-distance management · increasing political pressure on Chinese-origin capital
The structural wedge
Mainland capital controls
In China / HK
USD 50K/year individual outbound limit · administrative restrictions on RE outbound · tightening enforcement post-2020
Thai treatment
Bangkok property purchase fits inside ASEAN-permitted capital frameworks for legitimate diversification. Belt-and-Road / ASEAN trade context provides legal routing channels via family-office, BOI investment visa, or Privilege Visa structures. Khorna coordinates compliance documentation throughout · we work only with verifiable lawful funds.
Mainland 70-year land lease
In China / HK
Mainland residential is leasehold (70 years), not freehold · renewal mechanisms unclear · long-term capital uncertainty
Thai treatment
Thai foreign-quota condominium is freehold · title deed (chanote) registered in your name in perpetuity. Condominium Act 1979 stable for 46 years. The structural property-rights difference is substantial.
HK political-event volatility
In China / HK
HK property has shown elevated correlation with political events post-2019 · capital flight pressure has driven outbound flows to ASEAN
Thai treatment
Thailand's diplomatic neutrality + structural ASEAN positioning gives Bangkok prime insulation from regional political events. Capital district has not crashed in any of Thailand's four military-led transitions since 1997 · genuinely uncorrelated political risk profile from HK.
Currency: HKD-USD bloc concentration
In China / HK
HK-domiciled and HKD-pegged assets share single currency-bloc concentration with USD · diversification within HKD is illusory
Thai treatment
THB is one of the most stable EM currencies over a decade · managed by BoT but not pegged. Genuine non-bloc currency diversification driven by Thai economic fundamentals.
中国・泰国双重征税避免协定 (in force). Thai-China and HK-Thailand double-tax treaties handle income classification. We work only with verifiable lawful funds and coordinate with Chinese 税务师 / HK CPA on structuring.
Visa pathways for Chinese buyers
BOI / Smart Visa
For whom
Chinese tech / biotech / advanced-manufacturing executives expanding regional ops into Thailand
Why
Work-permit-included pathway · 4-year visa · pairs with operational presence + property investment. BOI sectors include tech, EV, biotech, regional HQ.
Investment Visa (Non-Imm B)
For whom
Chinese HNW with 10M+ THB to deploy in property + bonds + Thai-listed equities
Why
Investment threshold 10M THB · property qualifies as part of the threshold. 1y renewable visa. Cleanest legal pathway for CN HNW with property as the anchor.
LTR Wealthy Global Citizen
For whom
Chinese HNW with $1M+ assets and $80K+ income · post-IPO founders, family-office principals
Why
10y residency + 17% income-tax cap on Thai-source income. Combined with non-mainland-tax-residency planning, structurally efficient. Mandarin-language relationship management at major Thai banks at HNW tier.
Thailand Privilege
For whom
Chinese HNW seeking long-stay without LTR-level qualification · 900K to 5M THB membership
Why
Includes bank-account introduction service · simpler entry for CN-based family offices building Bangkok positions. Particularly relevant where direct LTR qualification is complex.
Four Chinese profiles we work with
The post-Evergrande Mainland HNW
Built wealth in Tier-1 Mainland property pre-2021. ¥10M+ liquidity event. Looking for ASEAN diversification outside Mainland and HK. BOI Investment Visa or Privilege pathway. Typical purchase: 18-35M THB 2-bed Sathorn, Phrom Phong, or Riverside. Mandarin-language operations preferred.
The HK / Mainland family-office principal
Multi-generational Chinese family wealth. ¥50M+ net worth across HK / Mainland / offshore. Building post-NSL diversification + IHT-aware structuring. Typical purchase: 30-100M THB branded residence (Mandarin Oriental, Aman, Four Seasons) Riverside or Sathorn.
The post-IPO founder relocating to ASEAN
Just listed on HKEX or Singapore exchange. ¥20M+ post-IPO liquidity. Building ASEAN base for regional operations + family lifestyle. LTR Wealthy Global Citizen pathway. Typical purchase: 25-60M THB 2-3 bed Phrom Phong, Sathorn, or Riverside.
The Bangkok-China dual-life professional
Senior tech / finance executive with regional Asian remit. Splits time between Shanghai / Shenzhen / Beijing and Bangkok. Already part of the 120-150K Chinese expat community in Bangkok. DTV or Privilege holder. Typical purchase: 12-25M THB 1-2 bed Asok, Phrom Phong, or Rama 9.
Why investors trust Khorna
Projects underwritten
50+
Across 11 prime Bangkok corridors
Data refreshed
Weekly
Live market data · weekly refresh
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 foreign portals 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, live market data, proprietary scoring.
About the team →Methodology
Every data table on this site cites its source. Bangkok prime pricing refreshed weekly from public listings + 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 CN / HK exposure today, your timeline, and your visa preference. We model your existing allocation against a Bangkok-prime allocation · Mandarin-language follow-up available, KYC-compliant routing.
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