Thailand proposes 10 year visas and land ownership for foreigners - again

[khunjeff]

Two possibilities:

 

1) The proposal is sent to a committee for further study and is never heard from again

 

2) The proposal is approved, but only after a dozen circling vultures have added their own last-minute requirements to the process, such as 1 million USD health insurance from a Thai company; can only buy land in a new development with overpriced low-quality houses; need to check in at immigration every six months to prove you're still rich; must be able to juggle three flaming chainsaws while riding a unicycle...the possibilities are endless.

 

 

[xtrnuno41]

5 hours ago, smedly said:

Prayuth Chan O Cha 

Took over a country by military force

Source of wealth - ###########

Net Worth - ###############

You could have red it this week, but its noting compared to Zuckzuck

But he is working on it

Over the next three months he will give up his salary of 75,590 baht and 50,000 baht allowance making a total of 376,770 baht.

 

A good gesture some might say but a drop in the ocean compared to his assets when he assumed the reins of power seven years ago. 

 

His assets in 2014 were reported to be 102,317,152 baht. 

 

Six bank accounts held 58,967,022 baht, nine investments totalled 23,072,380 baht, two lots of land came to 2,284,750 baht and among other assets he had 11.8 million tied up in four vehicles. 

 

Not bad for a humble army general. 

 

Sanook further reported that his wife Naraporn had 26,347,882 in assets. 

[Thunglom]

the attitude is basically not there yet. (e.g. only "rich" foreigners)

 

A post Covid Thailand will have to review how ALL visitors are welcomed.

It ill likely they will need covid restrictions and health checks and insurance for years to come

so te ned to make it worth while for foreigners to visit the country.

 

A longer standard visa would be a start.

Easier work permits

Better property and business ownership laws and of course a reduction in corruption and tea money.

do all this and MORE and you will bring in useful income for the country.

 

A few "rich" foreigners will make <deleted>-all difference.

Edited July 17, 2021 by Thunglom

[ravip]

the attitude is basically not there yet. (e.g. only "rich" foreigners)

 

Please, can someone tell me a non-corrupt, developed country that welcomes poor foreigners? I ain't rich, hence looking for a super developed country to live with the pittance I have.

[Sydebolle]

That gravy train has departed the station of wealth and goodwill long, long time ago.

Those smart enough to circumvent the funnies in the collection of local law cartoons and legal jokes have no need to change anything.
Those qualified enough always managed to get work permits - albeit bringing along all sort of pages from above cartoon book as well as photographs of sitting at an empty desk with a non-functioning pen or the house number in which the alien, a.k.a. dirty farang, intends to work - but doable. 

Those in the driver's seat have not understood how the rest of the planet functions and the result is such cabinet crpa! 

[Mac Mickmanus]

They didnt give the information as to where these new people should begin to queue up .

   I imagine rich people the World over are queuing up  waiting outside Thai Embassies in their respective Countries in anticipation of getting this new visa 

[rupert the bear]

rich rich rich money money money me me me,thats about all there is to say about this bs.not even worth reading

[Paiman]

These VIPs here are all space cadets with lots of words and seemingly only 1 or 2 relays up there switching.

 

Hopefully they man the first few rockets and never return to the center of the Universe.

 

They will need to be accompanied by at least one chimpanzee, to guarantee 1 creature knows what he is doing.

[BananaGuy]

In the report buzzwords such as “Digitalization”, “Decarbonization”, “Decentralization” and “D-risk”
 

August report will focus on … ‘E’ words !

 

Excellence

E-commerce

Exceptionalism

 

Due to some inappropriate contributions, the September report will skip to ‘G’.

[Tahoe]

If your lips are moving, then you're lyin', lyin', lyin', baby

[Moonfire]

So in the past one could go down to the US and other embassies and get a letter of income verification.

 

Thai government wanted the embassies to "grantee" that amount to be correct. Embassies pushed back and so a few years ago there was a change; immigration no longer accepted income verification letters. Had to put real money in a Thai bank.

 

Not sure how now they are going to accept anything as proof of income.

 

Land of confusion!  

[ThailandRyan]

5 minutes ago, BananaGuy said:

In the report buzzwords such as “Digitalization”, “Decarbonization”, “Decentralization” and “D-risk”
 

August report will focus on … ‘E’ words !

 

Excellence

E-commerce

Exceptionalism

 

Due to some inappropriate contributions, the September report will skip to ‘G’.

You forgot one:

 

Egotistical

[ChrisKC]

1. ‘Rich’ global citizens

2. ‘Wealthy’ retirees

3. Digital nomads - or professionals working from Thailand

4. Highly skilled professionals

 

1. Money

2. Money

3. Money

4. Money

 

[J Town]

51 minutes ago, StevieAus said:

According to the article they would need to hold a Masters Degree or higher.

I wonder how many meet that criteria ?

Can they buy one when they get here?

[StevieAus]

2 minutes ago, J Town said:

Can they buy one when they get here?

As you seem to be able to buy most things here if you have the money why not ?

[khunPer]

6 hours ago, webfact said:

However, it is not clear exactly what ‘land ownership’ for foreigners would mean in reality.

 

It had previously been suggested that laws similar to the Condo Act of 2008 would be used to allow foreigners to own land plots in housing developments. Leasehold of land upto 50 years were also being considered. 

To be honest, I can't imagine one million wealthy expats coming to Thailand for this, there are many attractive places around the globe if you have $1 million or more in assets, and $40,000 or more in annual income, but some might of course find amazing Thailand attractive.

 

For comparison, how many better off retired expats use the non-immigrant O-X visa?

 

By the way, many, if not most, of the wealthy entrepreneurs never finished an education,  they were "thinking out of the box"; I can even think of a number that dropped early out of school, but still became dollar-billionaires; even one of those with not a huge yacht, but a private space ship.

 

And to my understanding, most digital nomads don't have a degree, and they might not even wish to settle permanently - "nomads" - but just stay a nice place to enjoy life while working, and making money. Those that are fairly successful, and have a reasonable income, might already use the Elite Card to stay 10-years or longer for a relative small annual service fee.

[Penefattore]

8millions baht wasted on useless property or nearly zero yielding THB bank deposits/government bonds means losing an opportunity yearly income between 400,000/800,000 baht assuming a return in the 5-10% range.

Zipmex offers you a 6% on USDT ,other websites way more.

And the menace of being forced to the lethal injection (aka vaccine) is always there , Damocle's style

I think I will pass on this one.

[talahtnut]

7 hours ago, webfact said:

However, it is not clear exactly what ‘land ownership’ for foreigners would mean in reality.

I thought gambling was illegal in Thailand.

[Bobydog]

7 hours ago, lom said:

We are desperate now said the government.

What a shame, these incompetent buggers have no idea that all of their you beaut announcements over the past year would have put anyone who can read from moving/retiring to Thailand. They have to go before it's too late!

[nottin]

What does an annual income of $40k mean for a wealthy retiree. Is it the amount that you must transfer into the country each year, and must spend 100% of it that year since by nature a retiree no longer saves but spends? What if you don't spend it all in a year and so end up with savings, can you transfer the savings out and transfer back in the next year or invest it somewhere else in the world?

[Dont confuse me]

With the figures they are talking about, I don't think anyone who has accumulated that sort of wealth is going to risk investing it in any way, shape or form in a 3rd world country that historically has an unstable Parliament/leadership which can and does "move the goal posts"  when it suits them, and is famous for its corruption.

Positive changes start at the 'top' read into that what you will!

[J Town]

1 minute ago, Dont confuse me said:

With the figures they are talking about, I don't think anyone who has accumulated that sort of wealth is going to risk investing it in any way, shape or form in a 3rd world country

<snip>

I used to argue that Thailand was not a 3rd world country. Now? Not so much.

[The retired guy]

7 hours ago, ThailandRyan said:

Blah Blah Blah Blah Blah, all I hear is the sounds of lips moving and insincerity being bandied about by these clowns.  

It’s unbelievable that a government in 2021 can be so stupid. Amazing Thailand, I now understand why they’re selling sex. It’s the only thing they have, surely don’t have a brain ???? 

[Dont confuse me]

6 minutes ago, J Town said:

I used to argue that Thailand was not a 3rd world country. Now? Not so much.

Your right it's a developing country! Developing into a 3rd world country!

[nottin]

9 minutes ago, Dont confuse me said:

With the figures they are talking about, I don't think anyone who has accumulated that sort of wealth is going to risk investing it in any way, shape or form in a 3rd world country that historically has an unstable Parliament/leadership which can and does "move the goal posts"  when it suits them, and is famous for its corruption.

Positive changes start at the 'top' read into that what you will!

Actually, the Thai stock market had the largest returns in USD terms in the world from 2008-2018, excluding dividends. 

[scorecard]

7 hours ago, ezzra said:

Indeed, any old trick that we paid never no minds to it before it is now kosher just to bring them "rich" tourists/investors/retirees in to Thailand.. how typical of Thai attitude...

I wonder which property development companies are

pulling the puppet strings attached to this DPM?

[hotchilli]

7 hours ago, webfact said:

‘Rich’ global citizens would need to be able to prove income of at least $80,000 over the last two years and have $1 million in assets. They would also need to be able to invest at least 16 million baht in property or government bonds.

A bail-out Thailand ponzi scheme

[J Town]

Just now, hotchilli said:

A bail-out Thailand ponzi scheme

The problem is most people with that kind of scratch are too smart to fall for it.

[connda]

Without reading it:

"We want an absurd amount of foreign funds in exchange  for a little land your overpriced property will sit on plus perhaps a whole bunch more money stuffed into bonds and banks earning virtually nothing in exchange for a 10 year visa and a work permit, all which can already be had by capitalizing a business for 2M THB and then applying for either PR or citizenship after three years." 

Why bother.  Not worth reading.  We've seen it already multiply times.
Just put a full page ad in some major international newspapers:
Looking for billionaires who are stupid to throw money at Thailand without expecting anything back in return other than losses on their investments.

[itsari]

Far more lucrative to look after the foreigners already here . If not the whole situation with foreigners adding to the Thai economy will deplete .