Land Ownership By Us Citizen?

[sailaway2000]

A friend here told me recently that Land could be owned by US citizens directly. Something having to do with the King having been born in the US.

Is there some special relationship between the US and Thailand in this regard?

I said BS. But he was insistent.

Thanks

[donx]

There is currently no special relationship between the US and Thailand regarding the ownership of land in Thailand. I have heard rumors that there was a special arrangement that existed in the 1960s but I don't know that this was real or not.

There is (or was) a special relationship between the US and Thailand regarding the creation of a business. I don't know the details. I do know that the business could be 100% owned by a US citizen, but since it isn't considered a Thai business, the business couldn't be used as a vehicle for the ownership of land.

[gotlost]

You are correct on the BS.

[rabo]

There is an agreement between the US and Thailand referred to as the Treaty of Amenity signed in Bangkok in 1966 between the US president and the King. It allows for 100% US ownership and requires 51% US ownership. Under the treaty the company is treated as any Thai company except, it is restricted from certain activities of national security such as banking, and, it is expressly restricted from land ownership.

Edited July 7, 2010 by rabo

[stgrhe]

There is an agreement between the US and Thailand referred to as the Treaty of Amenity signed in Bangkok in 1966 between the US president and the King. It allows for 100% US ownership and requires 51% US ownership. Under the treaty the company is treated as any Thai company except, it is restricted from certain activities of national security such as banking, and, it is expressly restricted from land ownership.

Not exactly correct.

The treaty of amity allows Americans to own 100% of their firms in restricted businesses. However, they are not classed as Thai firms, and thus are still not allowed to purchase land. There are exceptions to this though when legitimate companies are involved. The Board of Investment may allow qualifying firms to purchase land for the director's residence, head office, and a factory (which is also possible via IEAT). They can also grant land ownership privileges to qualifying firms who will build and own a hotel so long as it has at least 100 rooms.

[quiksilva]

Good advice, and just to add the same goes for qualifying firms of any nationality.