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

[Gabor56]

For a while I have had the idea that covid-19 will turn the Thai mentality to right direction. But no. No pandemic can make Thai officials forget the Thai  jingoism and understand that the other countries offers far much more than much less. Those, who have one million USD can select thousands of places without red-tape or even stay home. What Thai officials like to forget those who worked for this country as a foreign, taught their families for practically nothing. After ten-fifteen years of work they are simply thrown away. Do you have 30 million Baht from your maximum 40 thousand monthly salary? No ? Pai leu! Most of them have families, kids owing double citizenship well educated speaking languages. They could be one stable pillar of the next generation. Me nun million, mai? OK, Pai!

Edited July 27, 2021 by Gabor56

[WrongTree]

30yr visa = 30,000,000 Investment 
 

5yr Elite Visa =500,000baht

500k x 6(5yrs) = 3,000,000baht 

5yrs x 6 = 30yrs/3,000,000baht

 

3,,000,000baht/30yrs/Elite 

vs

30,000,000baht/30yrs/Investment 

 

Whatcha think? ????

[Dont confuse me]

In a country where foreigners are treated like 2nd class citizens, are subject to a two tier price structure,  are clearly not really wanted.

A country subject to coups and historically run by corrupt officials, where the police have a reputation for being uninterested in foreigner's unless money changes hands.

Sure I'll invest my hard earned cash it's clearly worth the risk!

 

[kennw]

6 hours ago, Smithson said:

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

 

So the idea is to have the rich invest Baht 30 MM most probably the aim is for it to be directed into real estate. A "help the rich Thai program" and receive special privileges, 30 year visa etc. But approximately 40 retirees bring in about the same amount EACH YEAR and they spend it. Thais in general benefit. Another BUT, what special "privileges" do we get? Yearly renewals, 90 day reporting, red tape galore, no land ownership rights. Fair go mate.    

[Sydebolle]

If you have that kind of money, go elsewhere and invest it in a country with a functioning legal system where everyone is equal in front of the law. Not everyone is the Red Bull grandson ......... 

[jwbrit]

Just no understanding.

[moe666]

4 hours 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?! 
????????

Just like the same people who came for the sandbox, O they where not suppose to come either

[VBF]

2 hours ago, robsamui said:

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.

 

Excellent post - you've hit the nail on the head.

When many of us first visited Thailand it really was a "little 3rd-world nation"

A lot of the insular, protectionist attitudes were just amusing, especially as there were apparently multiple ways to get around them. It was part of the charm of the place.

 

Thailand got richer and more famous...you could say it grew up.  Sadly, the attitudes of those in power just grew older.

Edited July 27, 2021 by VBF

[pmh2009]

Are they dumb, stupid!!! 30 million for 30 years!!! you mean you have give to the Thai government 30 million Baht ( or buy) for 30 years Thai residency??? and after 30 years will you get it back your 30 million Baht?? (that is if you are still alive!!!)  It is just like the COVID vaccine... they thought they were a developed country and did not join the COVAC and GAVI!!!! stupid, stupid, stupid, stupid, stupid, stupid!!!!

Edited July 27, 2021 by pmh2009

[arick]

Through their money away. Tell this to the loads of people who have already lost their money. Just wait until it hits the World media 

[AllanB]

They would sell about 100 30year visas to the sharks, mainly Chinese and that would be it until they discovered the errors of their ways, especially with the Chinese. Then they would try to cancel and the Chinese would hit them with everything.

 

Talk about throwing the baby out with the bathwater, or trying to give the kiss of lift to a decomposed corpse of an economy.

 

Taksin is the only decent PM Thailand ever had, like Trump was and we know what happened there when the fix went in over there.

 

My guess is that the PM will do a runner as the pressure builds, he is clearly out of his depth, by about a mile.

Edited July 27, 2021 by AllanB

[Golden Triangle]

CISSA chairman Attanop Phanthukamnert was talking to

 

I wonder how much land this chappy owns ???? Yes I'm always this cynical ????????????????

[Dumbfounded]

The rich look after the rich here, there's no one poor in government.

 

Prayut..........Bringing Happiness to the Hi-So's

[sekmet]

On 7/22/2021 at 10:58 PM, billd766 said:

Will the business be subject to the 49/51 % law, and will the farang owners HAVE to abide by the 4 Thais per 1 farang rule?

 

If the answer to either or both questions is yes, Thailand can forget it.

 

How about the 49/51 % law when buying a condo?

 

If they get a 10 year visa (a good idea IMHO) will the farangs still have to make 90 reports, fill in the TM 28 and TM 30 every time they stay somewhere else overnight?

 

Will they have to have 800,000 or more in the bank and prove it to Immigration every year?

 

Just some of the niggely points to be aware of.

 

5 hours ago, sqwakvfr said:

If I had a million dollars to invest and get a long term visa where would I go?

 

1.  Switzerland? If they had such a scheme.

2.  Singapore(before Covid 19 I read for $500,000 a long term visa cold be had)

3.  Jeju S. Korea($500,000 investment in real estate for a 10 year visa-again before Covid 19)

4.  Orange County California or Orange County Florida(either will do and a Million will get a decent place to live)

 

 I think in order to realize the dream that is laid out in this article the investment amount has to be much lower(like $100,000?).  

This.

$USonemillion is a different category for most. I'm thinking Russian gangsters and Chinese oligarchs. Lots of other options globally.

[WingFat]

Hmmm, decisions, decisions...do I buy an ocean front condo in downtown Phoenix AZ or a condo in the Land of Coup d' etats and lockdowns....the real estate sales hucksters make them both sound soooo good.

[rioD]

When you have millions to spend on property investments, there's no need for a 30 year visa as you can come and go into Thailand or anywhere else anytime you want and generally stay as long as you want.  Those folks are comical and simply void of common sense.

[Iknow]

Anyone who has $1 million plus dollars can surely afford a 20 year Thailand Elite card straight forward application process car pick you up take you to the airport then take you through customs and immigration then repeat coming back, sadly the mass demand is for people who don’t have these sums of money available to them. 

[Ginner]

10 hours ago, thaibeachlovers said:

Which is exactly why this abominable scheme should never succeed. It's dreamed up by greedy people that care nothing about their fellow countrymen.

 

If it does succeed, there should be a 99% capital gain tax imposed for land sales over a million baht.

 

However, it seems like a typical Phuket scheme, given how greed runs deep there, IMO. Just look at what happened after the tsunami.

 

30 year visa, then spend 24 hours a day 7 days a week thinking up trumped up charges to deport and confiscate the investment. Ha!

 

[Knocker33]

Why on earth should any sane minded person invest in a country that in probably about 5 years is going to become a part of China

[Knocker33]

Just now, Knocker33 said:

Why on earth should any sane minded person invest in a country that in probably about 5 years is going to become a part of China

Oh apart from the Chinese that is

[Alwaysthailand]

Sounds like a golden opportunity. 

[jwbrit]

...and if you spend $2mill you won't have to do the 90 day check-in.

[bkkcanuck8]

Visa for investment should exclude buying property, it should be purely focused on how many jobs the investment will create for Thais.

[southcoast]

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

Every ones watching and waiting, ball is now in your court. !!!. Made my day with this one. lmao.

[wealthychef]

I came here thinking, oh finally someone sees the damage that is caused to local people by encouraging foreigners to drive up prices... and then I see that's the GOAL of the idiots proposing this.  SMH

[Taboo2]

9 hours ago, vandeventer said:

In the USA during the great depression you could buy a house and land for $50 dollars.

Please note, those "good old days"...will return to the USA very soon.....I will bet the farm on that.

[impulse]

Once more time...  A bunch of TVF'ers who think this is targeted at western investors.

 

It ain't.

 

[sabai-dee-man]

I can't believe people still "buy" property, that can so easily be taken away from them. And if they think it can't, and that their "investment" is safe, they need a check-up from the neck up!

The old saying will forever ring true in Thailand, and I've seen it happen many times first hand in my 20+ years: Only ever invest what you're prepared to lose.

Renting in Thailand is the only viable proposition. You never know who'll buy the land right next to you and build a bloody great condo, or factory, or something equally obnoxious, or who will move in next door with absolutely zero regard for anyone else around them. Add to that the volatility of government, immigration, and the Thai Baht (in no particular order!), it's a mug's game.

I decided it was only somewhere for holidays a long time ago, and even holidays aren't very appealing any more, when you look at Vietnam, Taiwan, and parts of the Caribbean these days.

[Albert Zweistein]

11 hours ago, sqwakvfr said:

If I had a million dollars to invest and get a long term visa where would I go?

 

1.  Switzerland? If they had such a scheme.

2.  Singapore(before Covid 19 I read for $500,000 a long term visa cold be had)

3.  Jeju S. Korea($500,000 investment in real estate for a 10 year visa-again before Covid 19)

4.  Orange County California or Orange County Florida(either will do and a Million will get a decent place to live)

 

Thailand would not even on the list. I doubt any member of the "Millionaires Club" have Thailand in mind when it comes for a place to live or stay.  I think in order to realize the dream that is laid out in this article the investment amount has to be much lower(like $100,000?).  

You won't last long in Switzerland/Singapore with a million $.

[Albert Zweistein]

4 hours ago, jwbrit said:

...and if you spend $2mill you won't have to do the 90 day check-in.

Better buy crypto currency with that amount.