Calls to give foreigners who buy a condo residency in Thailand

[Thomas Hannah]

13 minutes ago, Strongheart said:

Nothing to do with the "Developers", it's the banks that are now stuck with these foul loans.

Correct.Normaly the bank has always been the best place to buy property.They own so many because the thais have defaulted.The government says nothing because GDP goes up with property buit.look at china.whole cities empty.same thing.

[Bluespunk]

16 hours ago, rott said:

And this is announced on a Saturday night, at 8.30 pm. 

Yeah well, when you have a corker like that, who can wait until April 1st...

[josephbloggs]

14 minutes ago, ThailandRyan said:

Wow, Mr. Sensitive this morning I see.  Attack a post and whinge about the glass being half full, but anyone else discusses such things and you go silent.  Must not like the cut of my Jib, my moral decaying tone of my posts, or the fact that I call an ace an ace and a spade a spade.  We are talking of a 10 Mb condo, not a 1 million or 2 million or such.  10 million is a good chunk to invest and, like those that have a certain type of Visa they have been grandfathered in to not having to show the current amounts of money in the bank to qualify for their annual extension.  Very easy to include the prior purchases as all those folks have also had to keep the paperwork showing the money came from outside in order to repatriate the money back home whence they sell.  Even be beneficial for those that Bought a house in a gated community, even if they do not own the land.  Is giving PR that hard for you to open up to, or is it that PR has been unattainable and so because of that you are against it for others.  Other countries do give PR after certain time frames and after certain investments have been made.  If someone wanted to challenge it based upon evidence which shows they should have the same rights as someone who came after them, well then I am sure they just might succeed.  Holding people to two different standards is not right, but then TIT and dual pricing exists.

Eh?  Do you see yourself as the perennial victim?  I only replied to you and not to others because I thought you were making - no demanding - a ridiculous request and crying victim when you are nothing of the sort.  And you think I'm picking on you: again your victim mindset.

I stand by my assertion that if they come up with a new idea to give PR to people who invest over 10m in a condo, then expecting it to be backdated for anyone who has ever bought a condo is, indeed, ridiculous.   It's the fact that this is a positive news story yet you change it to a complaint because it wouldn't apply to things that happened in the past and play the victim card, again.  And again I'll ask you which country has ever retroactively applied immigration law changes?  

PR is very attainable thank you very much, so no gripes there.  And for the record I think this is a good idea and I would be in favour of it.  But unlike you I choose not to gripe about unrealistic things it doesn't cover.  

(and blah blah blah dual pricing, TIT, yaaaaaaaawn)

[Cake Monster]

What person of sound mind is going to Invest  10 Million Baht in Thailand with this Flip Flop Government and its Immigration Rules.

[munchlet]

Too little too late. You can get a passport for 10mm in other countries, where the police and legal system are not totally corrupt. 

[Redline]

Get the <deleted> outta here ????

[newnative]

Make it retroactive and lower the price point by at least half; more would be better.

[Traubert]

1 hour ago, Ireland32 said:

How longer you gonna beat that dirty Farang statement for Christ sake 

It does become tedious at this stage.

[ThailandRyan]

22 minutes ago, josephbloggs said:

Eh?  Do you see yourself as the perennial victim?  I only replied to you and not to others because I thought you were making - no demanding - a ridiculous request and crying victim when you are nothing of the sort.  And you think I'm picking on you: again your victim mindset.

I stand by my assertion that if they come up with a new idea to give PR to people who invest over 10m in a condo, then expecting it to be backdated for anyone who has ever bought a condo is, indeed, ridiculous.   It's the fact that this is a positive news story yet you change it to a complaint because it wouldn't apply to things that happened in the past and play the victim card, again.  And again I'll ask you which country has ever retroactively applied immigration law changes?  

PR is very attainable thank you very much, so no gripes there.  And for the record I think this is a good idea and I would be in favour of it.  But unlike you I choose not to gripe about unrealistic things it doesn't cover.  

(and blah blah blah dual pricing, TIT, yaaaaaaaawn)

https://www.avvo.com/legal-guides/ugc/retroactive-citizenship-laws-in-the-united-states

 

https://en.wikipedia.org/wiki/Citizenship_of_the_European_Union

 

https://en.wikipedia.org/wiki/Citizenship_of_the_European_Union

 

Just a few articles for you to read on how, why, and when Permanent Residency/Citizenship can be obtained after the fact retroactively.  

 

Not a Victim nor playing the victim card here.  Just using common sense and of course you would rather only look forward then to the rear.  Since we have now gone there, then this past summers protests and movements in throwing out history, changing names of university, getting rid of statues and mascots because of racial issues should never have occurred then.  Any laws that they make from here forward should not address the past is what your actually saying.  Got it.

Edited November 1, 2020 by ThailandRyan

[Neeranam]

Anyone with 10 million baht to invest doesn't worry about visas. Just buy an elite one or get someone to do it for you yearly.

Permanent Residency is not that great a thing anyway. 

[DefaultName]

2 minutes ago, Neeranam said:

Anyone with 10 million baht to invest doesn't worry about visas. Just buy an elite one or get someone to do it for you yearly.

Permanent Residency is not that great a thing anyway. 

It takes all that visa <deleted> out and gives certainty that you can live here as long as you live.  That's a big plus.  Not all of us have that 10m to spend though.

[Ketyo]

With 10M investment in a new property or a fixed interest account or a Thai government bond you can already get an investment non-B visa. It allows you to stay indefinitely. Just renew the visa every year and do the 90 day report. 

 

So what does this new concept give people that is different? Does it apply to any condo old or new...  or what?

[Mr Meeseeks]

2 minutes ago, Neeranam said:

Anyone with 10 million baht to invest doesn't worry about visas. Just buy an elite one or get someone to do it for you yearly.

Permanent Residency is not that great a thing anyway. 

I agree with your premise on worrying about visas but it's two different schools of thought for me. If you are thinking to emigrate to Thailand properly then direct to citizenship or obtaining PR then citizenship is essential. Thus PR is important. 

 

If not, and you consider and recognise your status as a temporary visitor only, with no desire to integrate, then PR is unimportant. 

[josephbloggs]

6 minutes ago, ThailandRyan said:

https://www.avvo.com/legal-guides/ugc/retroactive-citizenship-laws-in-the-united-states

 

https://en.wikipedia.org/wiki/Citizenship_of_the_European_Union

 

https://en.wikipedia.org/wiki/Citizenship_of_the_European_Union

 

Just a few articles for you to read on how, why, and when Permanent Residency/Citizenship can be obtained after the fact retroactively.  

Did you actually read any of them?  Utterly irrelevant.  This first one is about a specific law (INTCA) that Clinton passed that conferred citizenship upon people born in a specific period who did not qualify at that time.  It is a completely different thing and that should be entirely obvious.

Then you posted two identical links to a Wiki article about the EU that don't appear to have any relevance at all.  Not sure why.


 

[Mr Meeseeks]

Just now, Ketyo said:

With 10M investment in a new property or a fixed interest account or a Thai government bond you can already get an investment non-B visa. It allows you to stay indefinitely. Just renew the visa every year and do the 90 day report. 

 

So what does this new concept give people that is different? Does it apply to any condo old or new...  or what?

There is nothing indefinite or permanent about Non-Immigrant B visas. 

[DrTuner]

Even the PR requires a visit to police every 5 years. What guarantees it is truly permanent? TiT, safe to assume nothing that is promised is delivered as promised.

Edited November 1, 2020 by DrTuner

[SymS]

17 hours ago, RandolphGB said:

10 millions baht! Thais don’t have a clue. If they want investment in the country, they need to treat people (other than Chinese) with decency and give them some security instead of changing visa laws every month.

Residency is security. No more visa, no extension of stay, no 90-day reporting, no TM30, etc...  You can stay in Thailand, even if your passport expire, since there's no need to deal with immigration anymore.

[Mr Meeseeks]

1 minute ago, DrTuner said:

Even the PR requires a visit to police every 5 years. What guarantees it is truly permanent? TiT, safe to assume nothing that is promised is delivered as promised.

Which is why subsequently obtaining citizenship is probably the way to go. 

 

Not for everybody and it takes time but once you get that Thai ID card you've got your foot in the door. 

[DrTuner]

1 hour ago, saminoz said:

Part of this is that Thais want to buy new houses.  They are, for some reason, often loathe to buy second-hand.  Maybe they are scared of the ghosties!

They know the quality of the somchai builders. A house built by them only lasts a few years before all the shoddy plumbing, electrical work and roofing starts to give.

[holy cow cm]

Why don't they go as far as anyone who has bought property or married and stayed here for over 5 years can pay $10k - $15k and get a PR. There is realistically many other ways to bring money into the country. Their continual little cockamamy schemes for new money is quite abusive and obscene to the ones who already laid a ton of money into this place and who will continue to put money into the thankless system and government. 10 million baht unless you are a millionaire is out of reach or just plainly not a smart idea to put into here.

[newnative]

3 hours ago, cardinalblue said:

Is there really a 10M baht condo market?

That means quality fixtures and appliances installed...

 

my observation here is one unnamed but the biggest real estate developer in LOS uses the same materials they put in their 3M baht homes as they do they put in their 10-20M baht homes...

 

This is huge mistake property developers make here...good value for low end homes but terrible for homes over 7M baht homes not to upgrade materials, fixtures and appliances to reflect the home sale price...I view it as trying to pull a fast one as if the uneducated buyer won’t notice...

 

I wonder if this occurs in the condo market which I am completely unfamiliar with...

     Unfortunately, 10MB does not mean quality fixtures and appliances installed.   And, yes, putting the same quality in a small 2MB condo as a large 10MB condo happens with too many developers.  My partner and I bought condos at 2 different projects by 2 different developers.  With each, we bought an expensive 2 bedroom/2 bath and a much smaller, cheaper 1 bedroom.  With both, we got the same poor quality kitchen cabinets and the same appliances.  With the 2 bedrooms we gutted the kitchen and started over--the quality was just not there.  We kept the kitchens in the 1 bedroom as they were going to be a rentals.

    One project came furnished and the 2 bedroom--which had a much bigger living room--got the same tiny 2 seat sofa as the much smaller 1 bedroom.  You have to wonder what the developers are thinking.  I remember touring expensive beachfront 2 bedroom condos in a new development--12MB and up--and they had the same kitchen cabinets and counters, the same tile floors, and the same bath fixtures and wall tile as the developer's budget 2MB studio units in another project.  

   Same thing with a 3rd developer. Their project had small 1 bedroom 28sqm units for less than 2MB and big 3 bedroom beachfront units for around 14MB.  Same very cheap kitchens and baths in both.  I remember remarking to the sales staff that the kitchen should be a higher quality in the 14MB unit and she said that originally they were not going to install a kitchen at all because the buyers would likely tear it out and install their own.  With the way it looked, they maybe should have stuck to their original idea of no kitchen.  

     

[scorecard]

7 minutes ago, Mr Meeseeks said:

Even the PR requires a visit to police every 5 years. What guarantees it is truly permanent? TiT, safe to assume nothing that is promised is delivered as promised.

 True but this is just a simple update of police records, not Certificate of Residence (PR) records, there's no requirement to reapply for PR or anything similar and no interview.

[ThailandRyan]

18 minutes ago, josephbloggs said:

Did you actually read any of them?  Utterly irrelevant.  This first one is about a specific law (INTCA) that Clinton passed that conferred citizenship upon people born in a specific period who did not qualify at that time.  It is a completely different thing and that should be entirely obvious.

Then you posted two identical links to a Wiki article about the EU that don't appear to have any relevance at all.  Not sure why.


 

https://www.jewishvirtuallibrary.org/an-introduction-to-the-law-of-return

 

My mistake for not checking the 3rd link that should have been the right of return for Jewish Citizenship.  But you do not care anyway.  Short sightedness and choosing what you believe is not having an open mind and looking at both sides of the coin before a decision is made.  Enjoy your day.  I sure am enjoying mine knowing that someone is infatuated with my post instead of others.  Thank you.

 

However, the OP is about 10Mb purchase of condos and that is where the issue comes into play.  They are obviously only interested in the money that will come into the country and help the economy and not the money already brought into the country.

Edited November 1, 2020 by ThailandRyan

[DrTuner]

13 minutes ago, Mr Meeseeks said:

Which is why subsequently obtaining citizenship is probably the way to go. 

 

Not for everybody and it takes time but once you get that Thai ID card you've got your foot in the door. 

Citizenship could possibly give a bit more assurance. However not available for passive investors - need to work & pay taxes. And PR still needs a work permit, so it's only a small step forward. Those of us who are married to Thais don't need the PR at all to go for citizenship, if they can fill the tax part.

 

For investors, which they are after with these schemes, still not good enough.

 

Take Cyprus, a EU country: 500k€ (IIRC) in property for PR in Schengen, 2M€ for EU passport.

Edited November 1, 2020 by DrTuner
Added €

[americanfarang]

I’m ready to buy a condo, but it must include a government tracking bracelet.  In fact, I’ll buy two condos, if I can get two tracking bracelets, one for each wrist.   555

[scorecard]

1 minute ago, newnative said:

     Unfortunately, 10MB does not mean quality fixtures and appliances installed.   And, yes, putting the same quality in a small 2MB condo as a large 10MB condo happens with too many developers.  My partner and I bought condos at 2 different projects by 2 different developers.  With each, we bought an expensive 2 bedroom/2 bath and a much smaller, cheaper 1 bedroom.  With both, we got the same poor quality kitchen cabinets and the same appliances.  With the 2 bedrooms we gutted the kitchen and started over--the quality was just not there.  We kept the kitchens in the 1 bedroom as they were going to be a rentals.

    One project came furnished and the 2 bedroom--which had a much bigger living room--got the same tiny 2 seat sofa as the much smaller 1 bedroom.  You have to wonder what the developers are thinking.  I remember touring expensive beachfront 2 bedroom condos in a new development--12MB and up--and they had the same kitchen cabinets and counters, the same tile floors, and the same bath fixtures and wall tile as the developer's budget 2MB studio units in another project.  

   Same thing with a 3rd developer. Their project had small 1 bedroom 28sqm units for less than 2MB and big 3 bedroom beachfront units for around 14MB.  Same very cheap kitchens and baths in both.  I remember remarking to the sales staff that the kitchen should be a higher quality in the 14MB unit and she said that originally they were not going to install a kitchen at all because the buyers would likely tear it out and install their own.  With the way it looked, they maybe should have stuck to their original idea of no kitchen.  

     

Seems to me there's another point, why do condo etc., developers build very expensive units if there's no substantial market? 

[Megasin1]

17 hours ago, rooster59 said:

The media said somewhat cryptically in their headlines that foreign investors would be getting a new year present

would this be Chinese New Year, or the real New Year ? This will really mean that all condos currently priced at 5m will soon be remarketed at 10m, don't for a moment think you will be getting a 10m quality condo, as these will also double in price because they are better than the 10m ones. Eventually its not sustainable and will be revoked as the over development will be encouraged to continue and people will be able to revel in the joys of being the only owner on the fourth floor of a deserted condo that is crumbling around them. 

[newnative]

2 hours ago, Ventenio said:

10 million MINIMUM.  let's say 12 MILLION

 

you can ONLY then sell it to another farang.......99% sure

 

so that's great for demand..... not

 

buy at 11 million, sell at 4 million.  get visa

 

enjoy

Not true.  I have sold condos I have renovated to Thais and they have been buyers of my higher priced 7MB and up condos, rather than the lower priced ones of around 3MB.  The last condo I sold, at 12MB, had several Bangkok Thai buyers interested but I had already accepted an offer.

[hotchilli]

17 hours ago, rooster59 said:

The head of the Thai condominium association told the Thai financial media that she has recommended to the government to give foreigners migrant status if they purchase a condo of 10 million baht or more. 

They just don't get it do they.

[ThailandRyan]

7 minutes ago, americanfarang said:

I’m ready to buy a condo, but it must include a government tracking bracelet.  In fact, I’ll buy two condos, if I can get two tracking bracelets, one for each wrist.   555

They will supply you with these bracelets. You can get 4 of them