Thailand Law Library

by Thailand Lawyer

Chapter 9: Limitation of Rights in Land of Some Categories of Juristic Persons

The following juristic persons shall be entitled to the same rights as the foreigners.

Limited companies or the public limited companies with registered shares held by foreigners more than forty nine percent of the registered capital or those in which foreign shareholders account for more than half of the total number of shareholders, as the case may be. For the purpose of this Chapter, any share certificate to bearer issued by the limited company shall be deemed as it is held by the foreigner.

Registered limited partnerships or the registered ordinary partnerships in which the foreigners invest their capital through shareholding greater than forty nine percent of the total capital or those in which foreign shareholders account for more than half of the total number of shareholders, as the case may be.

Associations including the co-operatives in which the foreign members exceed one-half of the total number of members or those which operate particularly or mainly for the benefit of foreigners.

Foundations with objectives focusing particularly or mainly on the benefit of foreigners.

(Repealed)

In a case where any juristic person as provided in Section 97 holds shares of or invest the capital through shareholding in other juristic person as implied under Section 97, such juristic person shall be deemed as a foreigner.

In case of the acquisition or disposal of land rights by the juristic persons under Section 97 or Section 98, the provisions of Section 8 shall apply mutatis mutandis and such juristic persons shall bear the same duties and liabilities as imposed upon other foreigners and ordinary people.

In a case where the nature of any juristic person who has acquired the land at the time when its condition is not under the provisions of Section 97 and Section 98 is subsequently subject to the provisions thereof, the provisions of Section 95 shall apply mutatis mutandis.