blackcab

@Crossy Any ideas about this please?

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Off topic posts and replies to them have been removed.

As the British Embassy do not advise on passport applications this topic has been moved to the UK forum.

The member ranks have been refreshed. Ranks used to stop at 10,000 but as we have a number of long term members we have added a couple of higher level categories. The old ranks were: The new ranks are: At the time of making this post there is only one Grand Master, @webfact, who as you know posts the news on a daily basis. I wonder who will be the next member to achieve this status?