Expat Condo Owners given Residency Status during Pandemic

[DouglasTsui]

Is there any truth in this? I'm an  Expat Condo Owner since 2019 and yet all i hear is <deleted> and half truths and the frequent nonsensical rumbles in the Jungle.

Can some kind soul please enlighten me with some truth?

[Sheryl]

Not true.

 

There is proposal still under discussion that would provide PR who people who newly purchase condos. Not yet decided on, if it does pass while have a high minimum value and definitely not retroactive.

[DouglasTsui]

Read between the lines, Sheryl. Its clearly stated that if it's true,not a fact,not a claim but a simple question which needs clarification from someone who does have knowledge on this matter first hand.

[teacherclaire]

This will never happen.

 

Similar to the educational hub, the medical hub and all the other hubs together that never happened. A hoax. 

 

  Better save your money for something better in another country. 

 

 

[Mike Teavee]

Disagree @teacherclaireSimilar provisions came out of the Tam Yam crisis in 1999, not all lived up to their full promises (Like lifetime Elite Visas for 1 Million THB where you could own land) but I do think there will be some long term "Living in Thailand" options coming out of the current "Crises". 

 

FWIW I think they will make a route to PR for people investing 10 MB in a New Condo (it's actually already there as an Investment route to PR, they just need to waive the (unofficial) 3 years tax part of it) and am hearing positive rumours about a 3 Million THB route for Retirees, Married, Professionals etc... (Hopefully this will be in non-property assets like Government bonds as I'd  rather buy a house than a Condo). 

 

But I do agree that existing Condo owners are starting from the same point as everybody else and any measures will be for new investment rather than existing.

 

 

[userabcd]

46 minutes ago, DouglasTsui said:

Read between the lines, Sheryl. Its clearly stated that if it's true,not a fact,not a claim but a simple question which needs clarification from someone who does have knowledge on this matter first hand.

Suggest you contact the govt and clarify directly with the minister and people in charge of this to get first hand information.

 

Please let us know your findings.

[alianware]

This is just their politic to make offer of bad and expensive condos for sale and to get the elite visa. 

They even don't about peopke who now own companiea and condo already. So how can they care about it for aich people in the future ? Never trust new idea from thai politician if they haven't get the old matter done.

[DouglasTsui]

13 hours ago, Mike Teavee said:

Disagree @teacherclaireSimilar provisions came out of the Tam Yam crisis in 1999, not all lived up to their full promises (Like lifetime Elite Visas for 1 Million THB where you could own land) but I do think there will be some long term "Living in Thailand" options coming out of the current "Crises". 

 

FWIW I think they will make a route to PR for people investing 10 MB in a New Condo (it's actually already there as an Investment route to PR, they just need to waive the (unofficial) 3 years tax part of it) and am hearing positive rumours about a 3 Million THB route for Retirees, Married, Professionals etc... (Hopefully this will be in non-property assets like Government bonds as I'd  rather buy a house than a Condo). 

 

But I do agree that existing Condo owners are starting from the same point as everybody else and any measures will be for new investment rather than existing.

 

 

Well done. This is what I'm expecting from any sensible adult. Well articulated and all. Yes, I'm in the category of Expat Condo owners currently(unit purchased in 2019).

[DouglasTsui]

Which part of Thailand are you at Mike? 

 

 

[DouglasTsui]

14 hours ago, teacherclaire said:

This will never happen.

 

Similar to the educational hub, the medical hub and all the other hubs together that never happened. A hoax. 

 

  Better save your money for something better in another country. 

 

 

There seem to be so much hatred in that tone of yours, my dear Educator. Why may I ask? 

[DouglasTsui]

13 hours ago, userabcd said:

Suggest you contact the govt and clarify directly with the minister and people in charge of this to get first hand information.

 

Please let us know your findings.

I would have done that but its messy to begin with. Besides, it's more entertaining to read comments from real folks in the group. Present company excluded. 

[scorecard]

It's not likely to happen because it would never get the nod from the current or any Thai cabinet. 

[DouglasTsui]

@scorecard, the Malaysians would beg to differ as they were the intended expats certain corners of the " garmen" referring to.Don't count out  what this cabinet is capable of accomplishing as they have been very "popular".

[scorecard]

38 minutes ago, DouglasTsui said:

@scorecard, the Malaysians would beg to differ as they were the intended expats certain corners of the " garmen" referring to.Don't count out  what this cabinet is capable of accomplishing as they have been very "popular".

- How does Malaysia come into the discussion?

- Garmen  ?

-Cabinet popular. Who are they popular with? And how does that relate to the subject of the thread?

[richard_smith237]

6 hours ago, DouglasTsui said:

I would have done that but its messy to begin with. Besides, it's more entertaining to read comments from real folks in the group. Present company excluded. 

 

So you ask for first hand information, then criticise the information provided by a well respected member of this forum (Sheryl).... 

 

Do you even know what you want ?

[renz]

piece of serious advice by someone who live here long enough - if you have 10 million baht to spare i strongly advice you to invest it in something else. if you are talking abut malaysia second home - malaysia honor it commitment that is all i can say here - you apply they approve you come in and live 10 years minimum fuss free. if you are looking for a work permit do it the proper way coz if one day this programme got terminated early or change criteria you be stuck in hell hole 

[Scott]

A post with a commercial link has been reported and removed.

 

[LazySlipper]

On 11/3/2020 at 9:49 PM, Mike Teavee said:

and am hearing positive rumours about a 3 Million THB route for Retirees, Married, Professionals etc...

 

What are you hearing and who are you hearing it from?  Pray do tell... ir would be nice to have nrw options.

[Mike Teavee]

53 minutes ago, LazySlipper said:

 

What are you hearing and who are you hearing it from?  Pray do tell... ir would be nice to have nrw options.

I read somewhere that it was being discussed at the same time as those purchasing Condos but I can't find the article now and a Google search brings back nothing so maybe it's just wishful thinking... [I also couldn't find any new articles/updates on those purchasing Condos, just re-hashes of the article on 26th Oct] 

 

The wording went something along the lines of allowing Retirees, Professionals, "Married" who invest 3 Million to apply for Permanent Residency & hinted it was being put forward at the same time as the proposed Condo Owner route to PR so hopefully, if anything is to come of it, we will hear some good news soon. 

 

 

 

[mtls2005]

Deputy Prime Minister Supattanapong Punmeechaow was floating "ideas" last week. The condo thing was in that mish-mash. 

 

Suspect banks and developers are pressuring the "government" to help unload the glut of unsold real estate. 

 

Deputy PM outlines govt strategies to revive Thai economy in wake of Covid-19 outbreak

 

He said the Board of Investment and related agencies are also working on measures to woo foreigners to buy properties in Thailand via special measures.

 

https://www.nationthailand.com/business/30396671

 

 

 

[pagallim]

On 11/3/2020 at 9:20 PM, DouglasTsui said:

Read between the lines, Sheryl. Its clearly stated that if it's true,not a fact,not a claim but a simple question which needs clarification from someone who does have knowledge on this matter first hand.

 

Seeking 'first hand knowledge' which nobody can supply as mooted proposals haven't even reached cabinet discussion level let alone come into force.   Worth remembering that these proposals originated from condo building companies as a means of generating interest in their mountain of unsold stock.

[Iron Tongue]

Whatever happens, it certainly won't be retroactive and will only apply towards future condo purchases. 

No incentive to include previous buyers as there would be no benefit to developers, banking sector nor government coffers.

 

Also, I believe much of this was meant to attract China buyers, so if it ever became an actual program, there may be stipulations for other nationalities.

[Sheryl]

On 11/3/2020 at 9:20 PM, DouglasTsui said:

Read between the lines, Sheryl. Its clearly stated that if it's true,not a fact,not a claim but a simple question which needs clarification from someone who does have knowledge on this matter first hand.

Sorry but I don't understand the problem. I know what you asked for and thought I had provided it. You asked if this was true. It is not. It is not the case that people who already own a condo are eligible for PR on that basis. Nor is there any proposal to that effect under consideration.

[AlfHuy]

On 11/3/2020 at 9:35 PM, teacherclaire said:

This will never happen.

 

Similar to the educational hub, the medical hub and all the other hubs together that never happened. A hoax. 

 

  Better save your money for something better in another country. 

 

 

And now, they blocked the PornHUB

Hub over hub.

[AlfHuy]

There must be something going on.

The last few days, I have seen so many Ch... in restaurants and shopping. Even in my condo are a few now.

They can be the 28 ones who arrived last week.

 

Probably they are allowed in without making it public.

 

I also had a coffee, 2 weeks ago with a Chinese woman.

She lives here 2 years and own a condo.  She just bought another small one (28m2) as an investment.

She told me, that she got now a visa to guarantee her a minimum of 5 years.

I asked her what she was talking about.

She said yes. I bought another condo and I got my 5 year visa.

 

Never heard about that but, hey, she is Ch..... and maybe special treatments again.

[NCC1701A]

On 11/3/2020 at 9:20 PM, DouglasTsui said:

Read between the lines, Sheryl. Its clearly stated that if it's true,not a fact,not a claim but a simple question which needs clarification from someone who does have knowledge on this matter first hand.

you must be new around these parts. attacking Sheryl will endear you to everyone.

 

 

[NCC1701A]

On 11/4/2020 at 11:52 AM, DouglasTsui said:

I would have done that but its messy to begin with. Besides, it's more entertaining to read comments from real folks in the group. Present company excluded. 

i'm your Huckleberry. 

[Salerno]

On 11/5/2020 at 7:24 PM, AlfHuy said:

She told me, that she got now a visa to guarantee her a minimum of 5 years.

I asked her what she was talking about.

She said yes. I bought another condo and I got my 5 year visa.

 

Never heard about that but, hey, she is Ch..... and maybe special treatments again.

 

Maybe the investment visa that's been around for years (5 or 6?) and one of the reasons any talk of PR for a 3 million Bht condo as mentioned above is a pipe dream (why would they undercut an existing visa by so much and offer so much more in return?).

[BritTim]

On 11/5/2020 at 2:37 PM, Iron Tongue said:

Whatever happens, it certainly won't be retroactive and will only apply towards future condo purchases. 

Depending on details, there may be ways around it not being retroactive. Unless it is restricted only to new condo developments, I could imagine two foreign owners getting together and buying condos from each other.

[Peterw42]

6 minutes ago, BritTim said:

Depending on details, there may be ways around it not being retroactive. Unless it is restricted only to new condo developments, I could imagine two foreign owners getting together and buying condos from each other.

 

I agree, I imagine if it comes in and its not retroactive, there will be lots of creative ways of getting around it.

Even if it involves selling to a friend then buying i back, the fees and taxes would still be cheaper than the 200,000 plus it currently costs for PR.