Age Requirement For Land Ownership

[turbo]

How old does a Thai citizen need to be in order to acquire land in his/her name? Interested in regards to my Thai child and land ownership.

[geordie]

How old does a Thai citizen need to be in order to acquire land in his/her name?  Interested in regards to my Thai child and land ownership.

<{POST_SNAPBACK}>

This is a question that i would like the answer to aswell.

If you do find out the answer, could you e-mail me the answer Turbo.

[email protected].

Best regards Geordie.

[Sumitr Man]

Some of the answers to your questions can be found in the thread linked below:

http://www.thaivisa.com/forum/index.php?sh...c=21485&hl=land

SM

[SunbeltAsia]

If the land is purchase by a limited company. The shareholder can be a small child but only after the company is setup. At the promoter stage before the company is formed, the minimum age is 20 years but no problem changing shareholders after the company is formed and then no age requirement.

If the the Thai dependent however has your same last name( foreigner) then do the change of shareholder after the registration of the land. If you change the shareholder to your child having your same last name before the registration of the land, the land dept will not allow the purchase if you also are listed as a shareholder as a foreigner.

As for direct registration of the land without a company. You will be very restricted as to what may be done with the land. If your child wants to make any registered contractual action over the land, such as selling or leasing it, you as his guardian will need a court injunction approving such a transaction, to sell it with the proceeds to be used solely in the child's interests. As such you are in effect locked into the property with no ability to sell or trade up or down until your children are 18 years old.

[nudnik]

As a foreigner I am thinking of buying a house with a corporation that will be setup as follows:

Granddaughter 1 - 13 years old - 49 percent ownership in Thai Corporation - Thai National/British Subject

Granddaughter 2 - 14 years old - 49 percent ownership in Thai Corporation - Thai National/British Subject

Daughter in Law - 2 percent ownership in Thai Corporation - Thai National

Is this possible and can my underage grandchildren sign the papers needed to become shareholders of the corporation?

If the land is purchase by a limited company. The shareholder can be a small child but only after the company is setup. At the promoter stage before the company is formed, the minimum age is 20 years but no problem changing shareholders after the company is formed and then no age requirement.

If the the Thai dependent however has your same last name( foreigner) then do the change of shareholder after the registration of the land. If you change the shareholder to your child having your same last name before the registration of the land, the land dept will not allow the purchase if you also are listed as a shareholder as a foreigner.

As for direct registration of the land without a company. You will be very restricted as to what may be done with the land. If your child wants to make any registered contractual action over the land, such as selling or leasing it, you as his guardian will need a court injunction approving such a transaction, to sell it with the proceeds to be used solely in the child's interests. As such you are in effect locked into the property with no ability to sell or trade up or down until your children are 18 years old.