Corsica has passed a proposal to make it impossible for non-residents to buy property on the island reports Opp Connect.
The French island has made it compulsory for people to be permanent residents for a minimum of five years, explaining that foreign investors have contributed to inflated house, apartment and land prices on the island, officials have said.
Those against the bill, mainly from the far left, have voiced concerns that the changes could create a black market in real estate
Similarly, Thailand land purchase law, in general, also prohibits non-Thai citizens from owning land in Thailand. In fact, Thailand’s prohibition is even broader than Corsica’s. A foreigner may be permitted to directly own or acquire land in Thailand pursuant to Thai law, under five possible scenarios:
- Investing/BOI
- Leasing
- Owning a company
- Marrying a Thai spouse
- Inheritance based on Thai family members
Foreigners may also own condos in Thailand under certain circumstances.
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