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Assets of Thai Royal Family Holding Company Officially Transferred to Thai King Maha Vajiralongkorn

Assets of Thai Royal Family Holding Company Officially Transferred to Thai King Maha Vajiralongkorn

Assets of Thailand’s royal family in the holding company Crown Property Bureau has been officially transferred to King Maha Vajiralongkorn.  The assets will now be held in the individual name of the Thai King, which will be subjected to individual taxes and duties.

” Assets of Thai Royal Family Holding Company Officially Transferred to Thai King Maha Vajiralongkorn “

Assets under the Crown Property Bureau has been exempt from taxes and duties.  In 2017, a law was enacted to allow the assets of the Crown Property Bureau founded in 1937, to be reverted to the ownership of the Thai King.

King Maha Vajiralongkorn Bodindradebayavarangkun became the King of Thailand after his father’s death (King Bhumibol) at age 88  in 2016.  Born in 1952 and the only son, he was made crown prince in 1972 at the age of 20.  His father, King Bhumibol, was the Thai King for more than 70 years (1946-2016).  Professional managers and trusted aides had administered the royal family assets under the Crown Property Bureau.  In 2011, the estimated fortune of the late King Bhumibol and Crown Property Bureau was valued to be worth more than $30 billion in a Forbes report.

The Crown Property Bureau held assets including Thailand oldest bank,  Siam Commercial Bank and one of Thailand’s largest companies, Siam Cement Group.

Source: China Daily, Bloomberg, ReutersCrown Property Bureau

 

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