Thailand threatens clampdown on land purchases by foreigners
property-report.com
by News Desk
Foreign nationals seeking to circumvent Thai ownership restrictions, by purchasing land or property in the name of a Thai spouse, could see their title deeds revoked, according to comments made by Land Department director Anuwat Meteewiboonwut, on a recent inspection tour to Phuket.
“If the Thai spouse has enough money to buy the house that is fine, but if the Thai has no money and uses money given to him or her by a foreigner to acquire property, that is against the law,” Anuwat was quoted as saying in the Phuket Gazette newspaper.
“If we check and find out later that a Thai person has been using money from a foreigner to buy land anywhere in Thailand, we will revoke the title deeds.”
Foreigners are authorised to purchase up to 49 percent of units in any condominium development, but they are not permitted freehold ownership of land. It is relatively common however for purchases to be made in the name of a Thai spouse, especially in resort areas such as Phuket, Pattaya and Samui.
