Fascinating breakfast meeting on landownership for foreigners/foreign companies, and Thai nominees for foreign shareholders, organized by the Nordic Chambers of Commerce for its members, drew impressive number of 80 attendees at Sheraton Grande Sukhumvit on September 5.
Tillike and Gibbings lawyer Mrs. Cynthia Pornavalai gave a fascinating presentation of the topic “landownership for foreigners/foreign companies, and Thai nominees for foreign shareholders”, where she discussed the implications and possible solutions to this reinforced policy. With the reinforcement of the policy concerning the presentation was highly relevant.
The transfer of land to a company with foreign shareholders is not as simple or certain as before, as a result of a new Ministry of Interior policy issued recently.
The policy, which seeks to prevent land purchases for the benefit of foreigners, directs officials to be more vigilant in scrutinizing the purchase of land by an entity with foreign shareholders or directors. It requires the officials to investigate the income, financial records and source of funds of the Thai shareholders investing in such company.
For the presentation and further details about land systems, rules and regulations —
