The laws of Thailand on the ownership of real estate and land.

 
Content: The laws on possession of the condominium. | Laws on land ownership.
In general, about Thai laws may say that they are nationalistic, especially in those moments that relate to land ownership by foreigners. The main laws governing the relations of the Kingdom of Thailand and investors, is the act of condominiums (№ 3) of the 1990 Land Code and Law on foreign business.
Buying a condominium and the Act on condominiums.

Condominium Act (№ 3) of 1990. Article 19-I of the Act prohibits foreign ownership of condominiums with a few exceptions which we describe below.

Changes in Article 19 th of April 27, 1999 in the Act on condominiums (№ 3) of 1990 allows foreigners to own condominium, provided that foreigners own the aggregate not more than 49% of the total project area (with the exception of Bangkok and Pattaya, as allowed local municipal law).

In this case the buyer must meet one of the following conditions:
- Private person residing in Thailand.
- Private person invited to Thailand Board of Investment.
- A legal entity, registered in Thailand but classified as "foreign" under the Land Code.
- Legal person who has permission from the Office of Investment.
- The person or entity on the territory of Thailand vvezshee foreign currency to purchase a condominium.
That last option is used most often. In this case, it's important to do only one demand - the legitimacy of importing valyuty.Soglasno Article 86 of the first Thai Land Code, foreigners can not own land except for special agreements (Although Thailand has with any country of a special agreement allowing nationals of that country's land in Thailand). The solution in this situation is to purchase land for a legal entity, which will be considered "Thai". What does this mean? According to Article 97 th to foreign legal entities include companies Registered in Thailand, but with more than 49% of the share capital owned by foreigners. Accordingly, for whatever entity was recognized as "Thai" needed that would be not less than 51% of capital owned by Thais (in practice the local Land Office require 60% or even 70% of the Thai capital, especially in the area of Pattaya).

I should note that now the public authorities staryutsya more closely track the origin of capital of such companies, and require evidence that 51% of the capital actually has a Thai origin and that the land acquired to the detriment of the foreign parent. However, land sales are continuing and will soon come up with new schemes.