Property Ownership Laws For Americans

[xyz]

I read somewhere that American citizens have a "favored" status when it comes to owning property or business in Thailand. Does anyone have any information on this? Thanks.

[Sumitr Man]

Sorry - Americans are no different to the rest of us when it comes to the issue of buying property in Thailand.

SM

[slimdog]

What I think you are refering to is the Amity Treaty between America and Thailand.

As Sumitr man stated, this treaty does not cover the owning of property or land.

Some of the details can be found at:

http://www.usa-fiance-visa-lawyer.com/amitytreaty.html

Hope this helps

[Sumitr Man]

I don't know if new businesses are still being registered under the Treaty (which I understood to have been cancelled pending the new FTA - which is taking longer than expected to be negotiated ).

Best to speak to Greg at Sunbelt if you want to look into any Treaty company establishment as I'm sure he would have the lastest SP on this.

SM

[xyz]

I read somewhere that American citizens have a "favored" status when it comes to owning property or business in Thailand.  Does anyone have any information on this?  Thanks.

<{POST_SNAPBACK}>

It may have something to do w/ the law that allows a person w/ 40 million baht to invest to own limited amount of land -- not to say I can qualify. It probably include other nations.

Edited June 14, 2005 by xyz

[xyz]

I don't know if new businesses are still being registered under the Treaty (which I understood to have been cancelled pending the new FTA - which is taking longer than expected to be negotiated  ).

Best to speak to Greg at Sunbelt if you want to look into any Treaty company establishment as I'm sure he would have the lastest SP on this.

SM 

<{POST_SNAPBACK}>

You seem to be spreading misleading information.

[Sumitr Man]

I don't know if new businesses are still being registered under the Treaty (which I understood to have been cancelled pending the new FTA - which is taking longer than expected to be negotiated  ).

Best to speak to Greg at Sunbelt if you want to look into any Treaty company establishment as I'm sure he would have the lastest SP on this.

SM 

<{POST_SNAPBACK}>

You seem to be spreading misleading information.

<{POST_SNAPBACK}>

errm - it wouldn't be the first time: but what misleading information are you referring to?

- The fact that the Treaty of Amity has supposedly been cancelled (under the Treaty 1 year's notice is required)?

- That Thailand and the US are in FTA discussions?

- That it was my impression the Treaty expired in December of last year (2004)?

- That new businesses may not be being registered with Treaty priviledges (because of the FTA talks, etc.) <---which I don't know to be true, hence:

- Or that Greg at Sunbelt may know something about this as he tended to register a lot of Treaty priviledge companies a year + ago?

All of these could be miselading. OTH, they could be correct.

SM

Edited June 14, 2005 by Sumitr Man

[Sumitr Man]

BTW:

If you want to read all about the requirements of the Baht 40 million = buy 1 Rai of residential property rules, you can find them in

Section 96 bis of the Land Code [as inserted by Ministerial Regulations Governing Bases, Procedures and Conditions Respecting Acquirement of Land for Use as Residence of Aliens (2002)].

Which is completely different to the Treaty of Amity... ...but there you go.

SM

[JimsKnight]

Theres an american guy I know who's adamant that yanks can own land despite the law stating otherwise. His reasoning being all the foreign trade the US does with Thailand being the reason. Another kiwi guy said the same thing too, guess what he got it wrong too...

The only way of owning land without a thai name is to invest a ridiculous amount of baht (40 million) into a thai bank and you can be from anywhere in the world not just the US.

[expatinasia]

Unless you have 40 million baht to invest, you cannot own land. You can, however, form a company that will own the land. If you check with Greg @ Sunbelt, he'll recommend a company that'll be 39% owned (by common stock) by you, and 61% by Thai nationals. Then, you'll cover yourself using preferred stock (which you own 100%), which holds all of the voting rights. A little convoluted, but legal. Greg will charge you about 40,000 baht (company registration, and the required Thai nationals as partners).