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Land
Code & Condominium Act
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Land
Code
Under the Land Code aliens may own land in Thailand
only pursuant to treaties in force between Thailand
and other countries. At present there are no such treaty
provisions in force. However, the Act Amending Land
Code (Land Ownership by Foreigners, No. 8, 1999) provides,
that an alien investor, who invests a minimum of 40,000,000
Baht, will be permitted to own up to 1 rai (1,600 sq.m.)
of land for residential purposes with the approval of
the Minister of Interior.
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Condominium
Act (No.3), 1999
This amendment to the Condominium Act provides two main
changes:
:: The
maximum foreign ownership of a registered apartment
building (condominium) was increased from 40 to 49
percent; and
::
The
49 percent ceiling may be exceeded if the condominium
is located in metropolitan Bangkok, municipalities
or other local administrative areas as prescribed
in ministerial regulations, and the land area of the
condominium does not exceed 5 rai (8,000 sq.m.).
For
more information, please do not hesitate to CONTACT
US.
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