No! You cannot do this.
Thailand Board of Investment (BOI) promotion is not the way to own land legally for private housing for foreigners.
Since the recent government crackdown on nominee companies, I have received several enquiries from foreigners, who believe that by setting up a BOI company and having a company with 100% foreign ownership approved, they can transfer their nominee business owned land and house to the new company.
Wrong.
This misinformation comes from some of the nefarious property experts who promote their services on social media. (Being a real estate agent falls under restricted professions, reserved for Thais only, but let’s not get into that right now). One of my services is to help investors with BOI project applications and steward them through the process.
The BOI is very clear in its rules.
BOI promotion is a path to 100% foreign ownership, and they do allow BOI promoted businesses to own land.
But…
That land is intended for commercial purposes only, e.g. to build a factory, warehouse, offices or housing for workers. There are strict rules on how much land can be bought and how far the workers’ housing can be from the actual business.
Homes for executives or private housing for experts are specifically excluded from this arrangement these days.
The BOI and the Land Department are watching. They are not stupid.