The Thai Land Department recently updated the criteria for foreigners to own land in Thailand. The latest criteria have been published on the website.
Heritage
Foreigners who are the legal heirs of foreigners already allowed to own land in Thailand can inherit this land. This inheritance must meet the constitution or specific criteria for land ownership by foreigners. For example, heirs may inherit no more than 1 rai (0,160 hectares) of land for industrial use, or no more than 10 rai (1,60 hectares) for agricultural purposes. The use of the inherited land must correspond to the permission originally given to the family members from whom they inherit the land.
Buy land
According to Article 96 of the Land Code, foreigners are allowed to purchase 1 rai of land for building a home, provided they invest at least 40 million baht in the kingdom. This investment must be considered beneficial to the Thai economy and society, or be among the types of businesses promoted by the Board of Investment. Furthermore, these investments must last at least three years. The residential area where the land is located must be located in Bangkok, Pattaya, or another municipality.
Land transfer
Foreigners can also acquire land through land transfer, provided this is in accordance with other laws, such as the Investment Promotion Act of 1977.
Warning
The ministry has issued a warning that Thais who act as nominees for foreigners to own land could face a maximum prison sentence of three years, a fine of up to 6.000 baht, or both. Foreigners guilty of unlawfully acquiring land face a maximum fine of 20.000 baht per day and/or a maximum prison sentence of two years.
With these updated criteria, Thailand's Land Department hopes to strike a balance between encouraging foreign investment and protecting national interests.
Source: The Nation
About this blogger
-
Known as Khun Peter (62), lives alternately in Apeldoorn and Pattaya. In a relationship with Kanchana for 14 years. Not yet retired, have my own company, something with insurance. Crazy about animals, especially dogs and music.
Enough hobbies, but unfortunately little time: writing for Thailandblog, fitness, health and nutrition, shooting sports, chatting with friends and some other oddities.
Read the latest articles here
EconomyJanuary 11 2025Thailand strengthens economy with ambitious trade policy
Money and financeJanuary 11 2025SCB Financial Markets publishes outlook for financial markets in 2025
Flight ticketsJanuary 11 2025Major disruptions expected at Brussels Airport due to national protest action on Monday
Food and drinkJanuary 11 2025Kaeng panang (curry) also a surprise from Thai cuisine
The ordinary citizen cannot do much with this arrangement.
1 Rai, 1600m2 is more than enough to build a house, but ฿40.000.000 mandatory investment is quite a bit.
€1.012.658 is more than enough, with today's exchange rate, yes, many people have that in their kitchen drawer.
This arrangement is more for rich Russians or Chinese, but not for the average retiree.
Gr. Arno
Another hot air balloon, it seems like a lot is about to happen, but in practice nothing changes at all.
Invest 40 million baht for at least 3 years, and that must also be promoted by the BOI.
There will probably be a storm.
Why are they afraid that the farangs will buy up all the land in Thailand?
Jan Beute
This is nothing new. But perhaps more attention will be paid to it from now on. It has been the case for years that you can buy 40 Rai of land with an investment of 1 million baht. However, the competent authority to grant permission has never done so to date.