Land ownership in Thailand by foreign nationals
[liveblog]1.1 – Foreigners can’t claim land in Thailand yet (in principle) individual foreigners can possess land up to 1 rai (1600 square meters) in tagged zones for private purposes through a Board of Investment regulation (section 96 bis Land Code Act) which requires notwithstanding the land buy a 40 million baht investment into Thailand in pointed out assets or government bonds useful to the Thai economy. In the event that granted (doubtful) it is under strict conditions and the land must be placed in detailed territories and obliges support of the Minister of Interior. Also this ownership is not transferable by inheritance, along these lines restricted to the life of the individual granted the right to possess the land for private purposes under this exemption. In practice, regardless of the fact that you would be exceptionally rich, this is not a feasible alternative. Other than this one exemption land ownership in Thailand is strictly precluded for foreign people
1.2 – Foreign organizations with significant investments profiting the Thai economy may have uncommon benefits and absolutions for land ownership granted under section 27 of the Investment Promotion Act, under section 44 of the Industrial Estate Authority of Thailand Act or section 65 of the Petroleum Act (just for the span of their business in Thailand)
1.3 – The foreign controlled Thai company with a majority Thai shareholding (in number of shareholders and rate of shares) is through preference shares the main vehicle accessible for foreigners to control their investment in land in Thailand. Despite the fact that land ownership by a somewhat (up to 49%) foreign possessed Thai company is thusly not unlawful under Thai land laws, the lawfulness and land ownership by the majority of these halfway foreign claimed organizations is questionable if not illicit. The Thai government is since 2006 confining and disheartening the abuse of Thai organizations to evade foreign property ownership confinements in Thailand.
1.4 – According to section 93 of the Land Code Act, a foreigner who gains land by inheritance as statutory heir can have ownership in such land upon a consent of the Minister of Interior. Note that section 93 applies just to ownership of land by foreigners under a treaty (section 86) and NOT to foreigners accepting land as a statutory heir from a Thai spouse. There is presently no treaty set up permitting foreigners to possess land in Thailand, accordingly no foreigner will be given consent by the Minister of Interior. They can inherit the land as a statutory heir, yet can’t register ownership and must offer the land inside one year from the date of obtaining.
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