In July 2008, the Board of Investment released announcement No. 1/2551 regarding to the rules permitting foreign entities which have obtained investment promotion privileges to hold the rights on lands for use as their offices and/or accommodation.
Keywords: Mazars, Thailand, Legal, BOI
09 October 2013
For foreign applicants who have submitted applications for promotion investment within 31 December 2012 and their applications were approved, those promoted foreign entities are entitled to own the rights of the land, provided that, the following rules are applied:
1. The land should not exceed 5 rais for the office location of promoted projects;
2. The land should not exceed 10 rais for executives‘ or experts‘ accommodation;
3. The land should not exceed 20 rais for the employees‘ accommodation; and
4. It is regardless whether or not the land of the office location and accommodation are both lie within the same area of the place of business.
However, the promoted foreign entities shall sell or transfer land within 1 year of the termination of the project.
The deadline under the announcement No. 1/2551 is prolonged by announcement No. 4/2556, declared on 28 February 2013, which states a new deadline for the above of 31 December 2017.
Please read the announcement No. 1/2551 and the announcement No. 4/2556.