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For foreigners who have registered land in a landholding company. Next month (July 2006) they may come up with section 94 and 96 of the Land Code?  Foreign Business Act

Section 94: 'All the land which an alien has acquired unlawfully or without permission shall be disposed of by such alien within the time limit prescribed by the Director-General which shall not be less than one hundred eighty days nor more than one year.

 If the land is not disposed of within the time prescribed the Director-General shall have the power to dispose of it.

The provisions on the forced sale of land in chapter 3 shall apply mutatis mutandis'. Yep, you (your company) is as a matter of law deemed to be alien by your capital investment..


section 96: 'When it appears that any person (including a juristic person) has acquired land as the owner in place of an alien or juristic person under the provisions of Section 97 and 98, the Director-General shall have the authority to dispose of such land and the provisions of Section 94 shall apply mutatis mutandis'.

Not only could the limited company be deemed alien, also could the limited company be seen as person 'in the place of the alien'.

It is of course obvious the case and not only because of the nominee structure...

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