Only Thai Nationals may own land without restriction in Thailand. Foreigners may own land in Thailand with special approval, which must normally be obtained from the BOI.
In the case of large investments, an approved company with foreign investment privileges may own land to carry out the activities which have been approved by the BOI, within the scope of the approval granted. After the approval of the investment project, a separate application must be submitted to BOI to receive approval to own land for the purpose of the project.
There are provisions under the new Condominium Act Amendments, for foreigners to own condominium units in qualifying condominium buildings.
NOTE: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
If you would like further advice please contact: David Ellis, Johnson Stokes & Master, 16th Floor, Princes Building, 10 Chater Road, Hong Kong; Tel 2843 4226; Fax no. : 2845 9121. Alternatively do a text search "Johnson Stokes and Master" and "Business Monitor".
