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Company Ownership Of Condos

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Section 67 of the Condo Act No 2 as amended by Condo Act No4 seems to make it illegal for anyone to have ownership of a condo on behalf of a foreigner. Presumably this would make company ownership of a condo unlawful. Unfortunately translations I have seen are not very clear.

Anyone know the position?

Company ownership of a condo is exactly that, company ownership. The foreigner is limited to 49% ownership of the company, his or her Thai partners would own the remaining 51%. Thus the foreigner does not really "own" the condo. The foreigner would be the occupant, just like any other renter would be.

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