Record of Processing Activities: A crucial document for personal data protection management
The Board of Investment (“BoI”) issued announcements on 1 and 4 November 2024 stating that it had made amendments to the conditions which allow majority-foreign-owned legal entities which have paid-up capital of at least THB 50 million to own land.
The key conditions are as follows:
- No more than 5 rai can be purchased for setting up an office to perform the activities for which the legal entity has received investment incentives.
- No more than 20 rai can be purchased for residential premises for workers.
- Offices and residential premises can be on the same plot of land.
- Where land for residential premises of workers is not located in the same area as that in which the business operates, the distance between the land for residential premises and a main public road which can be used to get to the place of business must not be more than 10 kilometres.
- The number of rooms for the permitted residential premises must correspond to the number of workers required for the project receiving investment incentives.
- The land must be sold or transferred within one year of the date on which the legal entity stops receiving investment incentives.
These conditions also stipulate that executives and foreign experts hired in connection with a project receiving investment incentives are not allowed to own land for residential premises.
References (in Thai):
- Announcement of the Board of Investment No. 8/2567. Retrieved from Thailand Board of Investment.
- Announcement of the Board of Investment No. 16/2567. Retrieved from Thailand Board of Investment.
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