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LAND-OWNERSHIP RIGHTS FOR ALIENS
Land Code Amendment Act
(no. 8)
Published in the Thai Royal Gazette on the 18th May 1999
The following had to be added to Section
96 Bis and Section 96 Ter, under Chapter 8: Prescribing Land
Right of Alien, of the Land Code:
Section 96 Bis. The provision relating to
alien to acquire the land by virtue of the convention under
Section 86, paragraph one, shall not be enforced to aliens who
brought money to be invested in the amount as prescribed under
Ministerial Regulations, which is not less than Forty Million
Baht, by acquiring the land for residence by not more than one
Rai, and must be approved by the Minister,
The acquisition of land by the alien under paragraph one shall
be according to the criteria, procedures and conditions as
prescribed under mInisterial REgulation, for which the
Ministerial REgulation shall have the essence as follows
(1) Category of business which the aline
has invested shall be beneficial to the economics and social of
the ocuntry, or being the operation which the Board of
Investment has announced to be the operation which can apply for
promotion of investment under the Law on Promotion of
Investment.
(2) The period of time for maintenance of
the investment shall be not less than three years.
(3) The area of the land to be permitted
to be acquisition by the alien, shall be in Bangkok Metropolis,
Pataya city, municipality or in the area prescribed as
residential area under the law on City Planning.
Section 96 Ter. The alien permitted to acquire the land under
Section 96 Bis, if acted incorrect with the criteria or
condition prescribed under Ministerial Regulation under Section
96 Bis, paragraph two, shall dispose of the land he is entitled
to within the time prescribed by the Director-General, which is
not less than one hundred eighty days, but not more than one
year. If from the expiry of such period, the Director-General
shall have authority to dispose of said land.
The alien permitted to acquire the land under Section 96 Bis, if
that land is not used for residency within a period of two years
form the date of registration of the acquisition, the
Director-General shall have authority to dispose of said land.
Countersign by
chuan Leekpai
Prime Minister
Remark:
The reason for the publication of this Act
is that whereas it is appropriate to let the alien who invests
in the important operation beneficial to the development of
economics and social of the country, to acquire the land as
residence according to the amount prescribed by law in order to
accord convenience to the alien who comes in to carry out the
operation in the kingdom, including to be the factor for the
decision of the alien to invest, including the increase the
purchasing power of the real estate business of the country
which is dormant, and which is one of the measures to
rehabilitate the economy of the country as a whole. It is
therefore necessary to enact this Act.
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