Land code amendment act 1999

Land Laws
land code amendment act

Foreign land ownership in Thailand under a treaty

Foreigners may under section 86 of the Land Code acquire land in Thailand by virtue of the provision of a treaty providing him with the right to own land. Obtaining such acquisition is subject to the provision of the Land Code and the Ministerial Regulations issued under the Land Code, and the permission must be obtained from the Ministry of Interior. Before the termination of the treaty which was made on February 27th, 1970, there were 16 countries bided to the treaty;

What happens when the government closes the company route?

I'm curious about your opinion, I bought a home in Samui in 2005, as many others with a Thai limited company. My questions is what would happen if the Thai government would indeed start closing companies of foreigners who own their holiday home in Thailand? Who would get the assets? Would the Thai shareholders get hold of my home and assets, read my Thai lawyer or his affiliates who created the majority Thai ownership in the company? or would the shareholders get part of the assets according to their shareholding in the company? or the Thai government would confiscate the assets and take the land back?