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Thai Land Department Denies Anti Foreign Policy

Category: Real estate, Posted:18 Jun 2009 | 06:58 am

Reading the recent media stories about comments attributed to the Director of the Land Department Anuwat Maytheewibulwut which caused a considerable uproar has resulted in Mr. Anuwat clarifying the facts. First and foremost is that the Land Code itself has had no amendment nor any revisions regarding foreign ownership of land.
Secondly with over 5.5 million transactions annually there are less then 1,000 complaints, in which case the department does conduct investigations. As clarified in the blog previously that ownership remains confined to either 49% of the salable floor space of a condominium project or else in a BOI (Board of Investment) scheme which has high investment thresholds such as hotels over 100 rooms and cannot be residential property.
In cases where a foreign national is married to a Thai, the Thai spouse is to provide written notification to the department that the property is from personal funds and not held together with a foreigner. He concluded his comments that currently both the land ownership issue and maximum lease period of 30 years is law and any amendments would come from the Government, with the Land Department only acting on legislation as it becomes law.

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