Thailand’s Board of Investment (BOI) has issued regulations revising its criteria for certain foreign companies that receive promotional privileges to own land under limited circumstances.
The revised allowance is detailed in the Notification of the Board of Investment No. 16/2567 Re: Criteria for Permitting Foreign Juristic Persons Receiving Investment Promotion to Hold Land Ownership for Office and Residence, which was published in the Government Gazette on December 9, 2024, after having been officially issued on November 1, 2024. The notification was made in conjunction with the subordinate Notification of the Office of the Board of Investment No. Por. 8/2567 Re: Criteria and Conditions for Permitting Foreign Juristic Persons Receiving Investment Promotion to Own Land for Office and Residence for Operational-Level Workers to Operate Business Granted Investment Promotion, dated November 4, 2024.
Under the new BOI notification and subordinate notification, foreign juristic persons that receive promotional privileges from the BOI, with paid-up registered capital of at least THB 50 million, are eligible to own land for office use or residential purposes, subject to certain criteria and conditions:
- Office use. Land used for this purpose must be for an office of the relevant BOI-promoted business, with an area limit of 5 rai (8,000 square meters).
- Residential use. Land used for this purpose must be for the residences of operational-level workers (i.e., unskilled laborers), with an area limit of 20 rai (32,000 square meters). In addition, there must be common facilities (e.g., parking, first-aid room, kitchen, and other amenities, as approved by the BOI). The land must be located within 10 kilometers of the place of business operation, and the number of rooms must be consistent with the number of workers.
For more information on this notification, or on any aspect of property law in Thailand, please contact Chaiwat Keratisuthisathorn at [email protected], Supranee Arjjit at [email protected], Chanchai Jhongsathit at [email protected], or Nathat Chongcharoenphanich at [email protected].
