Aren Foreigners Prohibited from owning land in Thailand ?
Under the strict application of the law, it is actually prohibited for foreign individuals or juristic persons (e.g., foreign majority-owned companies or partnerships), to own land in Thailand. However, there are exceptions to this rule which can be found in the law itself, as well as other methods of effectively purchasing land and buildings. The Land Code has been changed to allow foreigners to own land if they meet the following requirements: 1) The land is strictly for residential purposes. 2) The land area does not exceed one Rai. 3) No less than 40 million Baht is being brought into Thailand for investment in approved BOI projects. 4) Foreigners must abide by the Ministerial Regulations governing the nature of the business that the foreigner wishes to undertake, the period of time for maintaining the investment, and the location of the land owned. 5) Permission has to be granted by the Minister of the Interior. According to article 97 of the Thai Land Law, the definition of a for
