Laws governing the acquisition of immovable property by aliens in Thailand

Laws governing the acquisition of immovable property by aliens in Thailand

1: Definition of  “Aliens “ and “Alien Juristic Persons”.

1)  “Aliens” According to the Nationality Act B.E. 2508 of 1965, the term,
“Aliens” is defined as natural persons who have no Thai nationality or have
lost or relinquished Thai nationality.
2)  “Alien Juristic Persons” According to Section 97 and 98 of the Land
Code, the term,  “Alien Juristic Persons” under Section 97 of the Land Code is
defined as follows:

1.  Limited companies with more than forty nine percent of their registered
capital being held by aliens or with more than half of their shareholders
being aliens and, in the case of bearer shares (shares whose name of
holders are not specified and which can be transferable only by means of
delivery of shares’ certificates) issued by any limited company to bearers,
such shares shall be deemed to be held by aliens.
2.  Limited Partnerships or registered ordinary partnerships with capital
contribution by aliens being valued at more than forty nice percent of their
total capital or with more than half of their partners being aliens.
3.  Associations, including cooperatives, in which more than half of the
members are aliens or which operate especially or substantially in the
interest of aliens;
4.  Foundations whose objects are especially or substantially in the interest of
aliens.

Section 98 of the Land Code also deals with alien juristic persons and provides as
follows:
In the case where a juristic person under Section 97 becomes the owner of
the capital, a shareholder, or a partner, as the case may be, in another
juristic person, this latter juristic person shall also be deemed an alien.

More Detail please DOWNLOAD CLICK