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 Codeā¦
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...
We strive to keep this page up to
date, it is for information purposes only,
PCT Thailand is not responsible if any information is out of date or incorrect.
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