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

[Zack61]

13 hours ago, chang1 said:

I think restricting land ownership to a few rai would help the average Thai far more. Why does anyone need to own vast amounts of land?

Farmers perhaps????? It’s difficult enough to eek out a comfortable living on 100 Rai let alone a few Rai?

[sezze]

Been staying staying in local Isaan village long enough to hear plenty of super crazy stories . They believe that all foreigners are super rich , and spend 1 million as it is nothing .

Invest 1 million S , 30 million Baht , is a big bucket of money , which most just don't have , let alone invest in a country which is not very known to have a good ROI . Maybe they gamble on a dropping baht , i can certainly invest 30 million Zimbabwe Dollar in Thailand .

[ChC1]

I wish them good luck. And I hope some of them actually learnt from the disastrous sand box scheme. If they can't even attract a fraction of real tourists to Phuket under sand box. I sincerely hope they don't try to attract people who have THB30 million to throw away to the Andaman sea. It won't end well.

[Damrongsak]

8 hours ago, Alwaysthailand said:

Sounds like a golden opportunity. 

"golden opportunity."  Is that a brand of fish sauce or soy sauce?

[pizzachang]

Well, that would insure only millionaires would bother to invest here. What isn't clear, is why would they? If someone is borrowing from a foreign bank to invest here, that also begs the question of which banks would do such a thing 'at this time'?   This actually seems to be a scheme, similar to Hawaii's long-term leasing to hotel chains/investors...with none of the protections.

[brianthainess]

16 hours ago, Pattaya Spotter said:

Why are "rocket[ing]" land (or property) prices a good thing?

'Coz real estate groups like this will make a lot more money.

[Hanuman2547]

I don't think that there will be a lot of people interested in this program.  That amount of money could be better invested in other more secure areas as well as more stable countries.

A 30 year visa sounds good but how long will you be allowed to stay in country upon entry?  The US routinely issues 10 year visas to foreign nationals.  It doesn't mean they can stay in the US for 10 years.  In fact, they are only allowed to stay for six months per entry.  

[hotchilli]

20 hours ago, webfact said:

And CISSA have even gone farther suggesting that foreigners who invest 30 million baht in Thailand should be given 30 year visas. 

On the quiet I suspect Thailand is going or has gone broke.

The mis-handling of the crisis has hit the government hard, the public are up to their necks in debt with little chance of paying anything back other than possibly lowered interest rates for the foreseeable future.

Those out of work have borrowed heavily to stay alive, so how are they supposed to repay without employment?

Companies have borrowed up to the eye-balls to stay afloat, trying to keep manufacturing alive.

Boasts of "property prices tripling" over a short period to entice investment does nothing for the Thai population, it just makes the developers rich.

Thailand is looking for any way it can to get money into the country... it's reserves have been plundered.

God forbid if Japan ever pulled the plug on the auto-market in Thailand, it would collapse over-night.

[bluesea]

Why would i bring my hard earnt cash into a 3rd world country where Falangs are  tolerate not liked?

Now offer Residency to foreigners thats a different story but then we would become a threat to the Thais..

[tomacht8]

30 million Thai Baht, no problem. But what do you get for it? Only for the visa? There are already many other, far cheaper, options. Furthermore, I can already legally buy a condo. I don't see any more additional legal security here in the future either. The construction quality of many condos, the constant paperwork and the garbage and sewage problems do not inspire me to pay 30 million. I also find the current condo prices on Phuket not particularly cheap. 5-6 million for a 30 square meter shoe box, no thanks.

I prefer to stay flexible and invest my money at 4%. You can live quite well on 1.2 million dividends/ Interest / rental income from home country per year and rent something. And if the neighbor is annoying you just move.

Edited July 28, 2021 by tomacht8

[PB172111]

Great idea.

Count me in ????

[Jiggo]

Greedy Estate Agents in Phuket must have had to change their underwear after dreaming of this, ..people are going to food banks, vaccination failure, and all they still worry about is fast money and destroying the environment. 

[scorecard]

4 hours ago, ChC1 said:

I wish them good luck. And I hope some of them actually learnt from the disastrous sand box scheme. If they can't even attract a fraction of real tourists to Phuket under sand box. I sincerely hope they don't try to attract people who have THB30 million to throw away to the Andaman sea. It won't end well.

Seems to me Phuket (and ultimately many more locations, if the Sandbox scheme is a success, and it's looking ok) wants large / very large numbers of basic tourists, rather than a few farang spending 30M Baht. 

 

We end up with the same bottom line, these 30M / long-term visa schemes are continuously proposed by go for the throat / sell your mother real estate developers who see dollars flashing before their eyes and nothing more. Further, the reality is they are driven by greed and fantasize about massive numbers of 30MBaht sales. It's obvious that the total numbers of 30MBaht sales will be counted on one hand if they're lucky. 

 

 

Edited July 28, 2021 by scorecard

[thaibeachlovers]

19 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?).  

Why would anyone invest so much money into a country that can't even build decent infrastructure?

I saw an Al Jazira documentary set in Sth Korea and I was amazed at how good the infrastructure looked in a residential area- well made unbroken and WIDE pavements, good clean roads etc. What a comparison to LOS with its narrow broken pavements ( if they exist at all ), and small, dirty, uneven roads not cleaned at all.

[Accidental Tourist]

That's why scheme like this should NEVER been allowed! "Land prices rocket", so normal Thais can't effort any more! Have a look how Malaysia is handling this; much better approach.

[brianthainess]

One day Rodney 

[Nanaplaza666]

19 hours ago, BestB said:

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 

That's why if you can spend 30milj , the Elite would be a better option as i was saying . 

[off road pat]

No 30 Y. visa for me, and certainly No investing in Property in a country with ex criminals in the government, and are famous for flip flopping and changing there minds constantly. Nah,...thanks but No Thanks. It doesn't bother me to get a one year multiple entry marriage visa every year. It's like a bit of a field tip. We combine it with other things we wanted to do close to the Embassy.

I have been going to Asia and Thailand in particular for over 30 years now, and as much as I love it, I don't want to live there all year. My (Thai) Wife and I stay there 6 months per year (The European Winter Months) and that's perfect for us. The other 6 months we stay and travel in Europe. We had so many offers to buy land and houses in Thailand and heard/read so many story's of people been ripped of or wanting to move because of a bad neighbour or neighbourhood,...

The way we travel is perfect for us. we rent a room/apartment for a couple of months. After that we go south and rent a bungalow for a couple of months somewhere on a beach,.....If there is any problem ? we can move to another place whenever we want, and leave nothing behind. during those 30+ years we build up a nice list of lovely places we stayed one or multiple times and we discover new ones constantly....when I have to do a 90 days visa run? we combine it with a nice trip looking for places to stay and we travel a month or so in a neighbouring country. We have our own car (4X4) and love to travel in Malaysia, Laos & Cambodia. We used to go to Myanmar as well, but this has become very difficult lately.

[3NUMBAS]

desperate salesmen without a pot to pi55 in

Edited July 28, 2021 by 3NUMBAS

[Magenta408]

It has to be attractive as in 50 years for 1,000,000. There should never again be a scenario that migrant workers take priority over the Elite Card holders or more so, families. 

[zaZa9]

On 7/27/2021 at 11:55 AM, BobinBKK said:

If you really trust investing your hard earned money into a country that's prone to military coups and daily government flip-flops which are completely void common sense and logic, then have at it!!!

There are people arriving here in Phuket  daily who have dropped a Million US dollars on a 'dream' villa who are not allowed self isolate in that ( their ) property for 14 days and must stay in a hotel  every night.

Tell me again why this  new deal could be a good deal is a good deal and why it wont change on the whims of some official in a year or two...

[Stargeezr]

This scheme would make Thailand like Hawaii, where the locals live out in the sticks

while foreignors and the rich live where they want.  Pure greed.

Geezer

[BobinBKK]

On 7/27/2021 at 3:59 PM, Cake Monster said:

whos to say they would not kick you out after you have parted with your money

Exactly!

 

Or the political situation gets completely out of control and it's no longer safe for us to remain.

 

Or they take up sides with China in the south China Sea Dispute and all westerners are screwed.

[BobinBKK]

13 hours ago, zaZa9 said:

There are people arriving here in Phuket  daily who have dropped a Million US dollars on a 'dream' villa who are not allowed self isolate in that ( their ) property for 14 days and must stay in a hotel  every night.

Tell me again why this  new deal could be a good deal is a good deal and why it wont change on the whims of some official in a year or two...

Welcome to the land of liars, scams and thieves...

[thaibeachlovers]

16 hours ago, zaZa9 said:

There are people arriving here in Phuket  daily who have dropped a Million US dollars on a 'dream' villa who are not allowed self isolate in that ( their ) property for 14 days and must stay in a hotel  every night.

Tell me again why this  new deal could be a good deal is a good deal and why it wont change on the whims of some official in a year or two...

Sooooo, they paid a million and didn't do some research before hand?

Perhaps if they had they'd know it's better to rent and not buy.

[chalawaan]

Give me a lifetime visa for a million (baht -not dollars) or get off the pot!

 

Thirty years is a long time in Thai politics, and just in psychological terms, it is easier for them to cancel it on a political whim, than something bestowed for life.

 

Tourism will not come back in time to save millions from destitution, so they better re-think their farang-milking strategy if they have any hope at all of getting things up and running again.

 

It is far easier to let in several million law-abiding permanent migrants with even a modest pot, and obliterate the unlevel Thai-centric SME playing field, than it is going to cost in lost opportunity alone, to monitor the decade or more long chaos of Covid-era tourism.

 

This is part of Singapore's insane success story, apart from actually having laws and courts that work for all, most of the time, anyway.

 

Of course, this idea is a gin-soaked brainwave of an obscure curmudgeon with a dysfunctional sex-life. What would I know?

 

More than their 250 "Senators" combined, at first glance.

Edited July 29, 2021 by chalawaan

[dave moir]

On 7/27/2021 at 12:10 PM, Whale said:

Ah the smell of money has the real estate boys frothing at their mouths. Greed again. Give them half a chance and they will concrete over the whole island and not give a damn.

Greed has no bounds!????

[FarangJon]

For 50 years tourism was a sure-fire success. Any bungler could be put anywhere. The country was ruled by the mafia, nepotism and corruption. Now every corner is missing the bribes that came in largely indirectly through tourism and one mindless idea now follows the other in order to continue to fill one's pockets. I really feel sorry for the normal people who are like most of us and need the money to support their families. But here again the extent of the incompetence of the entire management level becomes clear. The disaster has only just begun.

[Mark mark]

Who will be benefited by a tripling of Real-estate prices ? (The Rich !!!) ... The poor and homeless will just be further disadvantaged, like they are now being made, All over the world, and the Problem is blowing out of proportion ! ... With NO government motivation, to do any thing about this fast developing social problem !!! ... (They still are obviously a minority in the electorate ! Right.) ....

 

Like Poverty has always been a problem, but now Poverty with out a home to live in !!! ... Yes, just "Tooo Many Rats In The Box" ! Right. ?

 

And real-estate Gains, ..are pretty much just a false economy I think ? ... Like Increasing Immigration to lift a countries GNP is.