The Crown Property Bureau

Thailand · Real Estate

The Crown Property Bureau (CPB) (Thai: สำนักงานทรัพย์สินพระมหากษัตริย์; RTGS: samnak ngan sap sin phra maha kasat) is the quasi-government agency responsible for managing the property of the crown of the Kingdom of Thailand. The bureau is legally defined as a juristic person and not a government agency. It has no tax obligations.[3] The king appoints six members of the bureau's governing board, with the seventh the sitting Minister of Finance of Thailand. It is claimed that crown property does not belong to the king in his private capacity, but to the monarchy as an institution which continues from reign to reign. In 2018 the king was granted full, personal ownership of royal assets thought to be worth at least $30bn (£22bn). The Crown Property Bureau, which controlled the royal fortune on behalf of the monarchy, said it transferred ownership of the assets following a change in the law.