May be OK to own land soon

[reader]

From Asia One

 

BANGKOK - Thailand is studying a law to allow foreigners to buy property through 50-year leasehold contracts and also to sell them, which would help boost demand for the country's property sector, the finance minister said.

 

Foreigners currently cannot sell leasehold property.

 

"The finance ministry is looking at this idea, which is highly possible," Apisak Tantivorawong told a seminar late on Thursday.

 

"If we can do it, the property industry will boom again because demand will come from all over the world," he said.

 

http://news.asiaone.com/news/business/thailand-studies-leaseholds-foreigners-land-windfall-tax

[Alexx]

No, even if and when that is passed into law, foreigners still won't be allowed to own land in their name. It's still a lease, although it can be registered for 50 instead of now 30 years and could be resold.

[reader]

Thanks for clarification.