Additional BOI conditions for majority foreign-owned entities to own land

Referring to the BOI’s Announcement No. 6/2022 dated 8 August 2022 regarding conditions for majority foreign-owned legal entities to own land for setting up an office and residential premises, the BOI issued additional conditions on 23 June 2023 under Announcement No. Por. 10/2566. The key additional conditions are as follows:

Keywords: Mazars, Thailand, Foreigner, Land, Legal, BOI

3 August 2023

The legal entity itself, not the BOI investment incentives certificate which the legal entity has obtained, will be taken into consideration when a business receiving investment incentives requests permission to own land to set up an office and residential premises for the business.
A business receiving investment incentives must have paid-up capital of at least THB 50 million throughout the period for which it has obtained permission to own land for setting up an office and residential premises for the business.
Management or skilled workers cannot own more than 100 square wah of land for each member of their family. The size of the area connecting each plot of land must not be larger than 1 rai. The ratio for land ownership in such cases is 1 rai per paid-up capital of THB 50 million, and not more than 20 rai in total.
The area of land for residential premises for workers must not be more than 1 rai for every 300 workers. The ratio for land ownership in such cases is 1 rai per paid-up capital of THB 50 million, and not more than 20 rai in total.
The total area will be taken into account when considering requests for management, skilled workers, and workers to own land where the ratio is less than 1 rai per paid-up capital of THB 50 million.
Where land for residential premises 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 50 kilometres.
The Office of the Board of Investment has the right to revoke permission to own land if any of these conditions are violated. In the event that permission is revoked, the land must be sold within 1 year of the date that the legal entity receives notification of such from the Office of the Board of Investment

Source: https://www.boi.go.th/upload/content/por10_2566_649a456b191b3.pdf