Buying Land

[slimdog]

THAI LAW

"Thai law requires that 51% of the shares be held by Thai juristic persons, however, any company with more than 40% foreign interest that purchases land will be investigated by the Central Land Office in Bangkok (under section 74 of the Land Code) to ensure that the company has not been organized in an attempt to circumvent the prohibition against foreign ownership of land."

The only differences between what different law offices state seems to on whether a company owning over 40% is investigated or Automatically investigated.However if you are going to purchase land by starting up a company who's sole intention is to circumvent the prohibition against foreign ownership of land then you are breaking the law and should the Central Land office decide to investigate then you will be forced to sell the land in a time not less than 180 days and not more than 1 year, after which it will be taken over by the government.

[Bobcat]

Thai law requires that 51% of the shares be held by Thai juristic persons, however, any company with more than 40% foreign interest that purchases land will be investigated by the Central Land Office in Bangkok (under section 74 of the Land Code) to ensure that the company has not been organized in an attempt to circumvent the prohibition against foreign ownership of land."

The only differences between what different law offices state seems to on whether a company owning over 40% is investigated or Automatically investigated.However if you are going to purchase land by starting up a company who's sole intention is to circumvent the prohibition against foreign ownership of land then you are breaking the law and should the Central Land office decide to investigate then you will be forced to sell the land in a time not less than 180 days and not more than 1 year, after which it will be taken over by the government

The rule that companies with 40% or more foreign shareholding being investigated is incorrect and has been since August 2003. Please PM me if you want the regulations. I have posted them on other threads. There used to be such regulation, but it is now repealed. I regularly am involved in transactions where companies that are 49% foreign-owned are transferees of land. I have NEVER once been investigated becuase these regulations are no longer in force.

Bob

Edited April 4, 2005 by Bobcat

[chippendalesam]

THAI LAW

"Thai law requires that 51% of the shares be held by Thai juristic persons,    however, any company with more than 40% foreign interest that purchases land will be investigated by the Central Land Office in Bangkok (under section 74 of the Land Code) to ensure that the company has not been organized in an attempt to circumvent the prohibition against foreign ownership of land."

The only differences between what different law offices state seems to on whether a company owning over 40% is investigated or Automatically investigated.However if you are going to purchase land by starting up a company who's sole intention is to circumvent the prohibition against foreign ownership of land then you are breaking the law and should the Central Land office decide to investigate then you will be forced to sell the land in a time not less than 180 days and not more than 1 year, after which it will be taken over by the government.

<{POST_SNAPBACK}>

Thank-you all for a VERY informative thread gentlemen. I am trying to gather all the information and knowledge I can from some VERY wise ex-pats in Thailand. I am an American citizen, so please correct me if I am incorrect, but I as an American citizen can have a Thai co. and own a house with it?????? I believe this is a relatively recent law, and a bit of a discrepency weather it is still valid....???? I belive it still is valid, any input from you wise, young and old sages would be greatly appreciated.

[stevehaigh]

THAI LAW

"Thai law requires that 51% of the shares be held by Thai juristic persons,     however, any company with more than 40% foreign interest that purchases land will be investigated by the Central Land Office in Bangkok (under section 74 of the Land Code) to ensure that the company has not been organized in an attempt to circumvent the prohibition against foreign ownership of land."

The only differences between what different law offices state seems to on whether a company owning over 40% is investigated or Automatically investigated.However if you are going to purchase land by starting up a company who's sole intention is to circumvent the prohibition against foreign ownership of land then you are breaking the law and should the Central Land office decide to investigate then you will be forced to sell the land in a time not less than 180 days and not more than 1 year, after which it will be taken over by the government.

<{POST_SNAPBACK}>

Thank-you all for a VERY informative thread gentlemen. I am trying to gather all the information and knowledge I can from some VERY wise ex-pats in Thailand. I am an American citizen, so please correct me if I am incorrect, but I as an American citizen can have a Thai co. and own a house with it?????? I believe this is a relatively recent law, and a bit of a discrepency weather it is still valid....???? I belive it still is valid, any input from you wise, young and old sages would be greatly appreciated.

<{POST_SNAPBACK}>

i belive you are talking about something called an Amity Treaty company.

An Amity Treaty company allows Americans to own a majority share in a Thai company. But it does not provide the right to buy land in Thailand.

if the compnay want to own land, it mut have at least 51% thai shareholding, 7 share holders, etc.

steve

[Heng]

The mortgage route is the safest route, especially if your significant other (family included) is of a background of having near zero life savings.

[Ken]

something else to remember about the lease idea. i found this on a web site:

If you are married to a Thai lady and provide her with the funds to purchase land, you will have to sign a disclaimer stating that the money did not come from abroad and that you assert that the property is the separate property of your wife and that you acknowledge that you have absolutely no rights or interest in the property. This is in Thai and signed at the Land Registry Office, most people do not realize what they are signing.

<{POST_SNAPBACK}>

I was doing a "search" on TV and came across this thread. All interesting, but couldn't quite find the answer to a question that came up yesterday evening. So I'll try asking here.

I remember there was a time that if a Thai lady was married to a foreigner she could not own/buy land. Then somewhere in the past few years I started "hearing" that the law changed and the wife could now own/buy land...yes, with the stipulation that the foreign husband signs off etc etc.

More specifically I am asking about a situation where a Thai family member (sister, mother, whatever) wants to give some land to the Thai wife of a foreigner.

The local Amphur seems to be telling her "cannot", but I'm thinking they are miss-taken.

Does anyone have a website or documentation that would enlighten the local Amphur or if I'm wrong in my thinking...myself, concerning the current laws for the ownership of land by a Thai wife married to a foreigner?

[Sumitr Man]

Hi Ken:

You need to get a copy of, or quote to the official, Notification of Ministry of Interior re Application for Acquisition of Land by Thai National who has or used to have an Alien Spouse and Juvenile Child of Alien who has Thai Nationality as published in Ministerial Information Bulleting No. 9238 of 4 October 2001.

SM

[Ken]

Hi Ken:

You need to get a copy of, or quote to the official, Notification of Ministry of Interior re Application for Acquisition of Land by Thai National who has or used to have an Alien Spouse and Juvenile Child of Alien who has Thai Nationality as published in Ministerial Information Bulleting No. 9238 of 4 October 2001.

SM 

<{POST_SNAPBACK}>

Thanks for that SM. I'll have a look/see.

[NotaNutter]

The thread currently on page 2 of this forum titled "Falang Name On Land Title" could change a lot of things (for the better) if indeed it turns out to be a new regulation. SM - have you or any of your legal contacts heard about this?

[RDN]

The thread currently on page 2 of this forum titled "Falang Name On Land Title" could change a lot of things (for the better) if indeed it turns out to be a new regulation. SM - have you or any of your legal contacts heard about this?

<{POST_SNAPBACK}>

I see Sumitr Man has replied here: http://www.thaivisa.com/forum/index.php?sh...ndpost&p=350596 to your request, NotaNutter.

Thanks Sumitr Man - a few of us will be hoping you find out something positive