Does anyone know of any foreigners who have used this 1999 amendment to the Land Act? I have never heard of anyone who tried. I wonder if it is practicable or is one of those laws that are on the books but in practice too complicated to make use of or government officials deliberately block those trying to do so. Presumably you would need to get the permission before going out looking for you piece of land as the seller would not wait months or years for you to get permission.

Does anyone know of any foreigners who have used this 1999 amendment to the Land Act? I have never heard of anyone who tried. I wonder if it is practicable or is one of those laws that are on the books but in practice too complicated to make use of or government officials deliberately block those trying to do so. Presumably you would need to get the permission before going out looking for you piece of land as the seller would not wait months or years for you to get permission.

Not that many applications! Need to get approval from Minister after you have clarified with Board Of Investment that Investment is eligible under Investment Promotion Law. You must keep the Investment for 3 years, or land must be sold. After approval you have 2 years to find a property.

lets face it, anybody with 40 mill at their disposal would probably be of an intellect high enough to realise that there are better options elsewhere.