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US Citizens and Property

US Citizens and Property

US Citizens and Property

Can a US citizen own land in Thailand is a common question as one tends to think about the US Amity Agreement. According to the Chief Registrar, Phuket Provincial Land Office the answer is simple!

A US citizen may own any property in Thailand but not the land. This applies to all foreign nationals in the Kingdom. This can be a bit confusing as there is an exception as described by the Land Office in Thailand. This being that special provisions exist under the regulations Thailand’s Board of Investment (BOI), which provides incentives for business-related investment in Thailand. Foreigners who invest in projects approved by the BOI are allowed to own one rai of land. This only applies to BOI companies.

With regards to condominiums, the only foreigners presently allowed to own 100% of the development itself (but not the land on which it stands) are Americans, since the signing of a Thai-US business agreement. Other nationalities may own up to 49% of a project, but no more. This however might change with Thailand having signed the WTO agreements and the status of the US Amity Agreement is in doubt. Speak to one of our attorneys with regards to ownership of land in Thailand with regards to the US Amity Agreement.

 

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