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blackcab
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Posts posted by blackcab
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10 hours ago, Orinoco said:
I think 1 rai is just to small for any real serious investment. Needs to be 3+ rai
The land is for residential use only, so any kind of business or property scheme would not be allowed.
That being said, there are 1 rai pieces of land in Bangkok routinely sold for hundreds of millions of baht.
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13 hours ago, DUNROAMIN said:
Isaan country 1 x Rai in Moobarn up to 1 mil, 40 mil to buy 1 mil land, I think not.
The law is that you have to import the equivalent of 40 million baht of foreign currency and then convert it to Thai baht. You then have to invest that money into an approved government scheme.
Once you have done that you can then purchase up to 1 rai in a specified area (not upcountry Isaan) for any price.
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17 hours ago, d4dang said:
or other designated downtown areas. Where are these designated downtown areas? How many downtown areas are there where you can buy one rai for 40 million Baht or less in Thailand?
That's not the deal. The deal is you have to import the equivalent of 40 million baht of foreign currency into Thailand and exchange it into baht. That money then has to be invested in an approved government scheme.
Once you have done that you can go and purchase up to 1 rai of land for any price that is available.
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23 hours ago, johncat1 said:
Invest 40 million baht to get a postage stamp plot of land. WITH strings attached !! Nobody in their right mind would invest 40 million Baht in such an unstable country where laws can change at the whim of the dictator. Anybody fool enough to do this can kiss their money goodbye, If the government don't steal it the banks will. Plus they will always be known as the ATM Farang, and never be treated equally alongside a Thai.
No, the 40 million does not come with any land at all.
You have to invest the 40 million in a government approved scheme, and then once you have done that you need to import more foreign currency to pay for the land you want to purchase.
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23 hours ago, BTB1977 said:
Hay looks at us . We are letting frang own land. But only the stupid ones that would invest 40 million for one rai of land. No ones that stupid.
No, the 40 million doesn't even get you 1 square meter of land.
You have to invest 40 million baht and then once that is done you have to pay for the land on top.
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On 10/26/2022 at 12:38 PM, Srikcir said:
So maybe there needs to be a stipulation in the inheritance laws that the 40 million investment value of the property inherited can qualify for legal and binding transfer to any foreigner under the same provisions of the 10-year LTR visa. Albeit there may still be some limitations, ie., minimum age (50 years old), that may need further review?
The first thing is that the property is not valued at 40 million baht. How the scheme works is that you must first import the equivalent of 40 million baht of foreign currency into Thailand and exchange that into Thai baht. You must then invest that 40 million baht into an approved investment.
Once you have done that you then need to import and exchange more foreign currency to pay for the land purchase, which could be of any value.
In terms of inheritance, this land would be dealt with in the same way that you mentioned, in that it could not be inherited by any non-Thai who did not qualify as a purchaser themselves. This means that in all likelihood, the land would have to be sold or bequeathed to a Thai citizen.
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On 10/26/2022 at 9:18 AM, Purdey said:
This could be inflationary. I imagine some property companies setting aside land for foreigners and putting this THB 40m price tag on many plots, raising land prices in the vicinity exponentially for all Thais. Thais will be very willing to sell their land to real estate agents and retire of course but expect some to complain bitterly of foreigners coming here and stealing their heritage.
No, in this scheme 40 million baht buys you nothing. You must first import foreign currency in sufficient quantity and exchange it for Thai baht. You need at least 40 million baht. Once you have the 40 million baht you need to invest it all in a government approved scheme. Once you have done that you will be allowed to purchase the land, but to do that you will need to import more foreign currency equal to the purchase price and then exchange that to Thai baht to pay for the land purchase.
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On 10/26/2022 at 7:47 AM, twix38 said:
Retirees having a spare 40 million baht! lmao
40 million baht just to own my own home and land it sits on.
why would I? if anything it makes me feel more determined NEVER to buy but only rent. much safer and no real term commitment to put up with anything - problem neighbours, dogs, construction, karaoke, loudspeakers, bars, noise of any sort, boundary or legal issues etc that can start up at any time and totally blight life.
NAH!
No, the 40 million must be invested in a government approved scheme. It doesn't buy you any land at all. Once you have invested the 40 million you then have to import more foreign currency and exchange it to Thai baht in order to pay for the land.
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On 10/26/2022 at 5:24 AM, KhunBENQ said:
Thanks for saying. I was sure that I read this fabolous 40 mio option long ago.
And from that I remember: you can not sell the land, you can not inherit?
Still true?
You can sell the land, but you can only sell it to either a Thai citizen or a non Thai citizen who themselves have imported 40 million baht and invested it in the same manner. As there will probably not be too many foreigners taking up this offer, in reality it means you would be much more likely to have to sell to a Thai citizen.
A beneficiary can only inherit the land if they themselves invest 40 million in the same way we have been discussing. This means it is probable that the land would have to be sold by your estate upon your death as your non-Thai beneficiary either could not or would not want to qualify to inherit.
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On 10/26/2022 at 4:32 AM, Boyn said:
40 million baht for 1 rai of land that sounds like a bargain to me, it is isnt it ? someone tell me if im being stupid. And to be reviewed in 5 years that makes it even better .......doesnt it?
No, you have to put 40 million baht down before you start. You have to import 40 million baht of foreign currency and exchange it to Thai baht, and then invest that 40 million baht for 3 years in a government approved scheme.
Once you have done that, you then need to pay more money to purchase the land. The initial 40 million baht does not buy you even 1 square meter.
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Off topic posts and replies to them have been removed.
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As the British Embassy do not advise on passport applications this topic has been moved to the UK forum.
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5 hours ago, howerde said:
What are your wifes qualifications and english, a 20 000 pounds job would seem optimistic to me especially up north (hope i am wrong)
Minimum wage is £19,760 per year (based on minimum wage of £9.50 per hour, with a full time contract of 40 hours per week).
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54 minutes ago, Kwasaki said:
Can OP get his wife into UK to be able to work straight away, if it is her first time to UK i don't think she is able to work for 2 years.
Maybe things have changed but my friend took his wife back about 5 years back and his Thai wife was not allowed to work.
I honestly don't know, but I'm fairly sure @theoldgit will be able to give us an answer on that.
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I would second what has been said about the cost of living. Believe you me, 50 thousand pounds before tax with a wife and child will not go far. That is 42 thousand pounds a year net after tax and NI, based on you earning 30 thousand pounds (24,500 pounds net) and your wife earning 20 thousand pounds (17,500 pounds net).
The average cost of running a basic home at the minute is 1,500 pounds a month, or 18,000 pounds a year. That's for rent, council tax, electric, gas, water, TV license, mobile phones and landline internet. Your food bill will be a minimum of 100 pounds a week, so that's another 5,000 pounds a year. In reality, if you are not careful, your food bill could easily double.
Let's talk about fuel: 100 miles, at 25 miles per (UK) gallon with fuel at £1.62 a litre will cost £29.46 or 29.5 pence per mile. For just fuel. If you do 100 miles per week that is 1,500 pounds a year on fuel alone. It's easy to do that sort of mileage with a school run, commute, shopping, general running about, etc.
We are already at 24,500 pounds, and that is your entire net salary from a gross of 30,000 pounds gone. So far you haven't purchased clothes, school uniforms, toiletries, household cleaning products, gone anywhere or done anything and there is no allowance for entertainment. No trips back to Thailand, no birthday presents, no cinema, no beer, no purchases or repairs of household goods, etc. No car tax, insurance, repairs, etc.
Perhaps rent in your chosen area is a lot cheaper and you will find spare income that way. Clearly, the key to making it work is your wife getting employment. The money she earns will be buying everything else, so you need to make very very sure she understands this, and that her plan is not to save all her money for herself, or to send portions of it back to Thailand for her family. She will need to be totally committed to both working and putting all of her income into your UK life.
Not having enough money for daily living can put a lot of pressure on a relationship, especially with a child involved.
That's just the financial side of things to think about. You still need to research your school area and actually call the schools you have in mind and see if they are taking on new students. It's not like 30 plus years ago where finding a space was fairly easy. A lot of schools are quite dire, so the decent schools are hugely over-subscribed.
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An off topic post has been removed.
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1 hour ago, jimflan said:
Will the Thai customs charge me import duty on my returned goods?
They shouldn't, because both of your items are exempted from import duty. You will, however, have to pay VAT and processing fees. Sometimes shipments are assessed. Other times there is no assessment. It's random and is probably something to do with if they have enough staff or not.
1 hour ago, jimflan said:Is there a way of flagging to them that are pretty old existing property of mine
You can have the items declared as used, however all goods have a value, otherwise you would not have paid for them to be shipped to you.
1 hour ago, jimflan said:that I bought in Thailand, and are lost property being returned, not a purchase of any kind.
Sorry, but that probably won't work. If it did everyone would say the same thing and nobody works pay anything to customs.
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4 hours ago, DezLez said:
No!
We, the posters (customers) I believe should have the ability to put the "emoji", or whatever, that expresses our immediate feelings when and where we wish and not be restricted by having to follow the imposed woke agenda now being imposed on us here by either doing nothing, if we are not in agreement, (aka "happy") with a post, or having to "quote" a reply and type out a perceived "negative"response.
This is either a "woke" control to stop true expression of our responses or it is a potential method of generating income by " click bait" or a combination of both!
Will Admin please respond!
Negative reactions will not be returning in the foreseeable future.
You asked for an Admin response. As you have now received your answer this topic is closed.
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psychedelic
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2 hours ago, AlbionThailand said:
Unexpected twist is that they now require translated copy of house-book, national ID or drivers license. This is not mentioned as part of the documention to bring but apparently...
Supplying a translation has been a requirement for many years. It is mentioned here:
2 hours ago, AlbionThailand said:Sad part of the story is that, although the payment form offers 2 options with one being to pay extra for the Passport to be sent to you, this option is no longer available. Passports must now be picked up
The UK passport website says that the courier fee is to send the passport to the application centre where you applied, not to your home (which is a shame).
https://www.passport.service.gov.uk/overseas/information/thailand/renew/child
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When I just tried to make a dummy purchase I could only change the currency on the final page where you enter your card details to pay for the tickets. There is a blue drop down box on the top right hand corner of the page:
To give you an idea, their website converted 77,850 baht into a fee of 1,981.88 pounds.
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Moved to the UK forum.
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Thank you for your suggestion. It isn't really practical to highlight every non-Thailand forum as there are a minimum of 35 non-Thailand forums. If we did this the View New Content page would be a mass of colour, when the information you need is already on each topic that is listed.
If you have a look at his screenshot:
you will see that I have highlighted some of the text yellow. By looking here before you click on a post you will be able to see if the topic is in a regional ASEAN forum.
2 hours ago, DezLez said:PS: Why does the "Cannabis Forum" get this special colour coding?
The Cannabis Forum gets a special green colour and indeed a prominent position on the home page because we want this part of the site to stand out and attract new members. The colouring and the change of position was added the day after the change of law legalising cannabis.
We regularly review forum locations, descriptions and their continued relevance in order to keep Asean Now fresh and up to date. New forums are introduced, and unused forums are removed or relocated.
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Thai cabinet open up country for sale to foreigners - but there's a 40 MB catch
in Thailand News Headlines
Posted
The land is specifically meant to be for a residence for the purchaser.
I know where you are coming from about the lease, etc. In reality I can't see it being allowed, but stranger things have happened.