News
Acquisition of Land by Foreign Persons
Legal Article
The full name of this Ministerial Regulation is the “Ministerial Regulations on the Acquisition of Land for Use as Residence for Foreigners in accordance with the Economic and Investment Stimulus Measures by Attracting High-Potential Foreigners to Thailand, B.E. ….” which has the contents of the law that allows Non-Thai Nationals of high potential, divided into 4 groups, to own land in Thailand as follows:
1. Wealthy global citizens;
2. Wealthy retirees;
3. People who want to work from Thailand and;
4. High-skilled professionals.
Each high potential foreigner has the right to purchase a maximum of 1 Rai of land with the condition that such foreigner must invest not less than 40 Million Baht in Thailand and this investment must be held for at least 3 years.
The reason why the B.E. has not yet specified, it is because the draft ministerial regulations approved by the Cabinet are only the preliminary principles in which the draft is in the process of submitting to the Council of State for review and hearing opinions to approve or disapprove it. If Thai citizens have different opinions, they can object according to the period specified by law.