THE RESTRICTIONS ON THE OWNERSHIP OF CONDOMINUIM UNITS OF ALIENS AND JURISTIC PERSONS DEEMS BY THAI LAW TO BE ALIENS

Abstract

This article discusses specific issues “Restrictions on the ownership of condominium units of aliens or juristic persons deemed by Thai law to be aliens” which is part of the problem in the thesis on the issue of legal problems relating to ownership of condominium units of aliens or juristic persons deemed by Thai law to be aliens. This article aims to study the problems that arise from the limitation of the ownership ratio of condominiums of aliens or juristic persons deemed by Thai law to be aliens under Section 19 bis of the Condominium Act BE 2522 and as amended. Due to the increasing number of residential condominiums and condominium units in Thailand are of interest to foreigners due to lower prices than other countries with good returns and condominium law, namely the Condominium Act BE 2522, the aliens may hold ownership of the apartment under restrictions on the ownership of condominium units. The study noted that Thailand has a policy of promoting economic growth and wants foreign investors to invest money in the country. But why must limit the benefits of housing in the ownership of condominium units of aliens or juristic persons deemed by Thai law to be aliens. This limitation is an obstacle to foreign investment in the Thai property market. The result of studying foreign countries that have economic growth and have a good legal system such as the United States Australia Japan and Singapore, Found that the condominium laws of these countries do not have restrictions on the ownership of aliens and foreign entities. But there are measures in accordance with other laws that are effective in controlling trading behavior and holding ownership of immovable property of foreigners and foreign legal entities such as measures under the law for investment promotion or tax measures. In order to prevent the problem of buying real estate for speculation that may lead to the economic crisis in the future. Therefore, if Thailand has terminated the limitation of the ownership ratio in the condominium units of aliens or juristic persons deemed by Thai law to be aliens, which is considered an alien to be supporting foreign investment policies in Thai real estate, Thailand should have other legal measures which is effective in controlling the behavior of residents and behavior of transactions relating to condominiums of aliens or juristic persons deemed by Thai law to be aliens to replace. In order not to affect social security and Thai economic security.