Give foreigners thirty year visas for million dollar investment and watch land prices rocket, says Phuket group

[kiwikeith]

45 minutes ago, hotchilli said:

Please foreigners, come back and help bail-out Thailand.

Someone told me only 14 people arrived at Suvarnabhumi yesterday, I don't know if that was by taxi or air.

[terryofcrete]

It's sad to watch the level of stupidity now abundant in a country going down the tubes rapidly. 

[fdsa]

is this a 35th or already 36th attempt to lure the HNWIs by offering them some cráp a HNWI would never buy?

I've lost the count.

[ThaiFelix]

1 hour ago, Kaopad999 said:

Who came up with this ridiculous idea?
Secondly, who in their right mind would invest 30 million THB  into this country, all for the sake of a 30 year visa?! 
????????

Well what else can they do to get more money from farang.....sell their daughters?  Oh yeah they already done that.

[khunpa]

I would consider investing THB 5 million on real estate and promise to spend at least THB 150.000 per month, if I could be guaranteed:

 

1. Minimum a 10 year visa.

2. No 90 day reporting.

3. Completely tax free for 10 years.

4. Five years of free golfing, massages and bar-fines.

5. Free vaccines of best quality when needed.

 

Make me this offer and I will buy the condo today.

Edited July 27, 2021 by khunpa

[shackleton]

What are these people smoking to come up with ideas

Like this 

There needs to be a medication around that can give them a bit if  reality 

To come up with some better suggestions 

They could try Brain storming but that might be a bit  to much 

[hotchilli]

6 minutes ago, kiwikeith said:

Someone told me only 14 people arrived at Suvarnabhumi yesterday, I don't know if that was by taxi or air.

Sounds very much like a pick-up.????

[Dialemco]

Surely should be indefinite leave to stay. Problem would be law may change at any time and investment devalued lost or highly taxed. Any increase in property prices  would be detrimental to the Thai people for a short time gain

[kiwikeith]

4 minutes ago, Dialemco said:

Surely should be indefinite leave to stay. Problem would be law may change at any time and investment devalued lost or highly taxed. Any increase in property prices  would be detrimental to the Thai people for a short time gain

Welcome-- to the Hotel smelly Formula.

[gk10012001]

Don't need a 30 year visa.  I am quite content with a one year visa. I have no problems at all with a country checking up on expats who are immigrants from other countries once a year.  Do away with the ridiculous 90 day report and just do a one year renewal/report and all would be nice

[robsamui]

This fantasy scheme is the latest in an ever-increasing spasm of desperation and disbelief. This last 12 months it's been happening everywhere you look. And the real problem is not greed or stupidity, it's proud, haughty, arrogant nationalism. 

 

Thailand had boasted for generations that it's never been conquered and colonised. Even from the early days of the first foreign diplomats, it's deliberately isolated foreigners and kept them at arm's length. As a nation it knows little of the ways of foreigners and has traditionally considered them a dangerous and corrupting influence on Thai culture. Foreigners are a breed to be tolerated with suspicion and to be taken advantage of at every opportunity.

 

But the Covid pandemic has forced Thailand out onto the world stage. It's ripped away the smug, often arrogant, self-sufficiency that Thailand has been able to maintain politically for so many years, and revealed the governing classes as elitist, self-serving, incompetent at governance and totally out of touch with not only the big world outside, but with its own people.

 

What you're hearing with this ludicrous million Dollar investment proposal is the panicking voice of a nation which understands nothing of Thailand's place in the world, and just cannot understand why nobody is now interested in their glorious country. 

 

Covid has been the catalyst, not only tearing down the insular wall that Thailand's built around itself, but also laying bare the corruption and ineptitude of some of its top people, its unrealistic healthcare system, and giving voice to the dismayed masses of its citizens who are now openly showing their discontent.

 

From the outside we can see that Thailand is very much not an attractive nation to visit or invest in at the moment. Let's hope that this international disruption is the watershed for the Thai people and their managers and, when eventually the dust settles, Thailand will have lost some of its unearned sense of self-importance and established a more realistic international poise.

 

For the Thai peoples' sake, I really hope so.

 

 

Edited July 27, 2021 by robsamui

[gk10012001]

27 minutes ago, khunpa said:

I would consider investing THB 5 million on real estate and promise to spend at least THB 150.000 per month, if I could be guaranteed:

 

1. Minimum a 10 year visa.

2. No 90 day reporting.

3. Completely tax free for 10 years.

4. Five years of free golfing, massages and bar-fines.

5. Free vaccines of best quality when needed.

 

Make me this offer and I will buy the condo today.

sadly one can NOT trust the Thais when it comes to long term agreements or contracts.  Governments change over there, coups do happen, policies change, etc.  Trust little

[ThailandRyan]

I am sure some drug dealers need another location to wash some cash and have a place to escape to as they go into hiding, oh wait Thailand would extradite them unlike finding their own billionaires and bringing them to justice.  Double edged sword blade that the country likes to try and balance on.

[dallen52]

4 hours ago, Smithson said:

And how does this proposal help all the poor Thais struggling so much ATM?

 

Err..who?

Next question...

[Pravda]

I copied from Facebook some thais who want to leave Thailand were sharing. You decide if what Phuket is offering is a good deal or not.... 

 

 

Edited July 27, 2021 by Pravda

[Heng]

1 hour ago, Airalee said:

I’m not seeing all that many protectionist comments…only a few.  
 

The free market appears to have spoken already.  The Thailand elite visa hasn’t yet hit 10,000 members at $30,000 for a 20 year visa since it was introduced 18 years ago.  So now they think that somewhere there are a million multimillionaires chomping at the bit to pony up a little over $900,000 for a 30 year visa?

Yeah, only 6-7 on a forum of mostly foreigners, around here it feels like lots to me.   Either way is fine for me.   Even with rules and restrictions, there's always a way.   The 'foreigners can't own land' laws certainly has not stopped foreigners (especially Russian and Chinese) from owning land here.    

[Scrotobike]

Great - lets push up land prices for the benefit of the HISO - then the normal Thais will not be able to afford a house.......

[metisdead]

Some troll posts have been removed. 

[renaissanc]

"They claim this and other measures would result in land prices on the southern Thai island rising by up to three times." That's very selfish. Local people would not be able to afford to buy a house or condominium.

[Khabib]

1 hour ago, khunpa said:

I would consider investing THB 5 million on real estate and promise to spend at least THB 150.000 per month, if I could be guaranteed:

 

1. Minimum a 10 year visa.

2. No 90 day reporting.

3. Completely tax free for 10 years.

4. Five years of free golfing, massages and bar-fines.

5. Free vaccines of best quality when needed.

 

Make me this offer and I will buy the condo today.

In the land of lies, your promise would mean very little to them 55

[BestB]

1 hour ago, Nanaplaza666 said:

People that can spend 30milj baht can spend a milj more to get the Elite visa so why does he even come.up with this . And owning land will never be alowed not in 30milj years . 

Keep in mind your visa status is dependant on you keeping that 30 million investment , just like investment visa . Go below required amount and your visa is nulled, change investment and need to change visa 

[Airalee]

17 minutes ago, Heng said:

Yeah, only 6-7 on a forum of mostly foreigners, around here it feels like lots to me.   Either way is fine for me.   Even with rules and restrictions, there's always a way.   The 'foreigners can't own land' laws certainly has not stopped foreigners (especially Russian and Chinese) from owning land here.    

Let’s look at some numbers and try to have an intelligent conversation with regards to what we could possibly deduce from this latest scheme Thailand is proposing.  For this purpose, I’ll round off the ฿30,000,000 to an even million USD to keep things simple.

 

Thailand is hoping for a million people (expats) to each invest $1,000,000.   This is a grand total of one trillion dollars….certainly not “chump change”.  

 

It can either be in real estate, which I assume will come with limitations, as I believe the primary purpose is to absorb the current glut of residential real estate (condos/housing developments) and not allow a million Chinese to buy up large swaths of farmland which would relinquish control over their food supply.

 

The other option is government bonds at historically low interest rates.  If/when interest rates rise, the value of the bonds will drop unless held to maturity where, at that time,  inflation will have taken its toll.  The purpose with the government bonds is for Thailand to essentially borrow money.  What would the interest rates from the IMF or a country such as the US or China be?  

 

I applaud Thailand for thinking outside of the box, and not running to foreign governments or the IMF for a trillion dollar injection and subsequently being beholden to the whims of those lenders, but I don’t think that the scheme that is being proposed is something that will come to fruition as it doesn’t offer a good value.  If it did, there would be far more elite visa holders than there currently are.

 

 

[BestB]

I still can not get over how easily they throw numbers around , as if 1 million dollars is a spare change.

 

Very fee would have a million dollars in cash to spare to invest in Thailand just to live in Thailand but to then it’s like a few thousand baht 

[Airalee]

7 minutes ago, BestB said:

I still can not get over how easily they throw numbers around , as if 1 million dollars is a spare change.

 

Very fee would have a million dollars in cash to spare to invest in Thailand just to live in Thailand but to then it’s like a few thousand baht 

Exactly…and considering that HNWI start at $1,000,000 in assets, who is going to liquidate 100% of their portfolio and move it all to Thai real estate or government bonds.

 

Even UHNWI with net worths of $30,000,000 would probably be hesitant to park $1,000,000 here for the purpose of a 30 year visa.  And there are fewer than 300,000 UHNWI worldwide.

 

Back to the drawing board.

Edited July 27, 2021 by Airalee

[scorecard]

"Give foreigners thirty year visas for million dollar investment and watch land prices rocket, says Phuket group"

 

No doubt the developers would love that to happen, that's what drives there proposals.

 

On the other hand it would probably massively increase prices for all housing in the area and the wider area go through the roof, meaning that a very large number of Thai folks are unable to ever dream of owning a home; could also mean a very big backlash and very negative attitudes towards foreigners. 

[Mavideol]

the RE guys/group are just venting, every day more and more BS posts are out and about full of non sense as people are bored.... boredom is a dangerous virus, easy transmissible  555

[Heng]

23 minutes ago, Airalee said:

I applaud Thailand for thinking outside of the box, and not running to foreign governments or the IMF for a trillion dollar injection and subsequently being beholden to the whims of those lenders, but I don’t think that the scheme that is being proposed is something that will come to fruition as it doesn’t offer a good value.  If it did, there would be far more elite visa holders than there currently are.

Just like the elite visa, which I'm surprised is even still around, I don't think there are that many significant negatives to having the program around.  It's just another avenue or vector for folks who do find it to be a good value.  Also I think there is a real psychological difference between buying a purple ink elite stamp for whatever they are charging now (500-800k Baht?) and being able to have chanotes with your name on it along with the permanence/possibilities of a plot of dirt.   One is 'yeah you can hang out here for as long as you want' vs. 'okay, you can try to build something here.'  

 

I know I'd love to have homes (and long term visa or PR) in a number of places (outside of Thailand) with investment schemes that I can't quite afford yet.  It's nice to know that the options are there though.   

Edited July 27, 2021 by Heng

[wwest5829]

I cannot identify. I retired to Thailand due to not being able to afford retirement in my own country(USA). I can sustain the 65,000 baht per month without end but … Well,, if I had many more than one million, maybe one of my homes would be in Thailand, but I doubt it. With that kind of money, I could come and go as I wish to many countries. Why tie up money in Thailand?

[BostonRob2]

2 hours ago, geisha said:

Not many will wish to invest any amount of money into Thailand, the country is in ruins ! Some expat pensioners maybe, rather like Benidorm or Malaga, a few million Baht (3/5) max would be my estimate. 

You obviously don't know the adage that the best time to invest is in a crisis. The opportunities in Thailand over the next year or two will be enormous as so many people have money to burn. 

[sawadee1947]

If I would be a share holder I would repeat it the whole day. 

However what I'm concerned is the climate change and it's outcome for Thailand. 

Temperatures rising above 50 centigrades, hurricances, floodings. 

Who would like to live here in 10-20 years? Or even earlier? 

I'm gone at that time!