During 2006, a decreasing interest among foreigners for house investments inThailand could be noted. The main reason was that a change in the domestic political conditions created uncertainty. The new political situation was a result of the military coup in September, 2006. The military regime looked set to make rather fundamental revisions to the Foreign Business Act, which would make it substantially more complicated for foreigners to acquire land through the previously so popular method of establishing a limited company to hold the land.
However, the revision bills never made their way through the House, implying that the method is still possible — at least in theory. The main problem is the use of Thai nominees, which is indeed illegal. Hence, most lawyers now cleraly advise against using the company model for foreigners to acquire property in Thailand.
