BOI-approved foreign businesses can now own land in Thailand

BANGKOK (The Nation/Asia News Network): Thailand’s Board of Investment (BOI) published new regulations on Thursday (Aug 25) allowing foreign companies granted investment privileges to buy land in the country.

The regulation signed by the prime minister on Aug 8, is effective retroactively since June 13 under the 1977 Investment Promotion Act. Now, foreign companies that have a registered capital of at least 50 million baht can own land in Thailand under the following criteria:

• Up to 5 rai can be bought to build an office

• Up to 10 rai can be bought to build residences for executives or specialists

• Up to 20 rai can be bought to build homes for employees

• The office and employee residences do not have to be in the same compound as the place of business or factory.

The regulation requires the business to sell or transfer the land within a year once its BOI-approved status has expired.

Each land ownership will be considered on a case-by-case basis by the BOI.