Updated Land Ownership Criteria for Foreigners Announced
The Land Department has updated criteria for foreigners to own land in Thailand. Legal heirs can inherit properties, with restrictions on land use and size. Foreigners can buy land if they invest at least forty million baht in approved sectors, with purchases limited to specific areas. Unlawful acquisitions can lead to fines and jail terms.
The Land Department has released updated criteria for foreigners to own land in Thailand.
According to the department's website, foreigners who are legal heirs of other foreigners allowed to hold land can inherit properties, provided the inheritance complies with existing land-holding laws, limiting industrial land to 1 rai (0.160 hectares) and agricultural land to 10 rai (1.60 hectares).
Foreigners can buy 1 rai of land for residential purposes if they invest at least 40 million baht in sectors beneficial to Thailand's economy and society, as approved by the Board of Investment, and retain the investment for at least three years.
Residential land must be located in Bangkok, Pattaya, or other municipalities.
Foreigners can also acquire land through transfer laws such as the Investment Promotion Act of 1977.
Violations could result in significant fines and jail terms for both foreigners and Thai nominees involved in unlawful land acquisitions.
According to the department's website, foreigners who are legal heirs of other foreigners allowed to hold land can inherit properties, provided the inheritance complies with existing land-holding laws, limiting industrial land to 1 rai (0.160 hectares) and agricultural land to 10 rai (1.60 hectares).
Foreigners can buy 1 rai of land for residential purposes if they invest at least 40 million baht in sectors beneficial to Thailand's economy and society, as approved by the Board of Investment, and retain the investment for at least three years.
Residential land must be located in Bangkok, Pattaya, or other municipalities.
Foreigners can also acquire land through transfer laws such as the Investment Promotion Act of 1977.
Violations could result in significant fines and jail terms for both foreigners and Thai nominees involved in unlawful land acquisitions.
