Foreigners Cannot Own Lands

Discussion in 'Thailand property' started by lmcrealty_ph, Mar 9, 2007.

  1. lmcrealty_ph

    lmcrealty_ph New Member

    A foreigner cannot own any land, except if his/her husband/wife is a citizen of that country. You cannot own a house but you can rent.

    But foreigners can own condominiums, and there is a certain condominium that every unit of it is attached on the lot.

    In Philippines, the Maja V Bonita I condovision is a like of this. In fact there are already 3 foreigners who already bought their own units.

    If you want more informations and pictures about these project just e-mail me unying07@yahoo.com.ph
     
  2. Robert Gavin

    Robert Gavin New Member

    Hi

    You cna own land if you set up a Thai company first

    veyr easy and cheap to do.
     
  3. Under the new regulations approved by the Thailand's cabinet and accepted for final action by the national legislative assembly, it appears the use of nominees to open a "Thai" business as you suggest will only get you a 5 million baht fine and a 5 year prison term. Your property investment will likely be swallowed up. Those who have already invested here are worried. The new rules haven't received final approval but they are expected to be in place by the end of summer. They will be retroactive and those here now will be the losers.

    From the April 11th edition of The Nation, one of Thailand's English language newspapers.

    "Third, the new draft will remove the amnesty for those violating the nominee law.

    Fourth, the draft will increase the penalty for those violating the Foreign Business Law - from three to five years in jail, and from Bt100,000 to Bt1 million in fines to Bt500,000 to Bt5 million."
     
  4. egeefay

    egeefay Senior Member

     
  5. egeefay

    egeefay Senior Member

    The new Thai government is cracking down on foreingers trying to buy land through shell companies. I think most Thai lawyers would advise people to steer clear of going that route. I think they advise leasing the land for 30 years
     
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