Changes to laws on foreigners owning land set for 2022

[Aforek]

2 hours ago, mokwit said:

So exemption from 90 day reporting is only for the well heeled - at what wealth level do people cease to be a threat to "National security." ? It is so clear with this that 90 day reporting is about keeping us in our place.

It shows that "90 " days is not essential, they could live without them ; if they can do it for rich people, why not for "not so rich" people  ? 

[Elkski]

90 day creates how much more work for immagration?  Justifies more employees.   Didn't they also land ownership in " certain areas"? Deep south? Poor soil, drought areas, flood zones?   Or from certain land owners?  I can't imagine this lowering land values.  Will this encourage bank repo's ? there are surely lots of land that qualifies now or next 12 months.  This foreigner land purchase idea  Kinda provides a reason to purposefully drag your feet on vaccine procurement doesn't it?

[Dogmatix]

I have already seen FB posts from Thais saying that Thai people will become beggars in their own country having to pay high rents for somewhere to live to  rapacious foreign landlords. It seems too late. They should have worried about that before they allowed children of Chinese migrant workers to become Thai just by being born here. They already own most of the wealth and squeeze Thai people dry.  Letting wealthy foreigners maybe own a rai each under hugely restrictive conditions is not going much difference now.

 

But this is all familiar from when the Democrat government in 1999 decided to amend the Land Code to allow foreigners investing B40m in certain special assets in the hope wealthy foreigners would come in droves and drop helicopter money to bail out the moribund Thai real estate sector at the time. The original bill also allowed foreigners married to Thais to buy land without having to invest B40bn but that was scrapped after bitter attacks in parliament including from the government's own MPs who said Thais would become beggars in their own country etc etc.  Finally there was a backlash from the bureaucracy that stalled on drafting the ministerial regulations for 3 years and then refused to issue any of the qualifying investments.  Meanwhile government ministers were taking credit for having opened up the real estate sector to foreigners. 

 

I think we all know that nothing will come of this.  If it does, foreigners already here should prepare themselves for new regulations raising the bar visas making it harder for the not well heeled to renew visas on the basis they are no longer required.  

Edited September 20, 2021 by Dogmatix

[Dogmatix]

4 hours ago, phka said:

If I was given full Thai citezenship I would move all my wealth to Thailand, and therse a lot of it

If you are so wealthy, you can indeed move all your copious wealth to Thailand. You can invest in a business (with Thai partner owning 51% of course) and apply for PR and then citizenship.  With just a fraction of your wealth, you can invest in a medium size business and hire a capable farang to manage it and just sit on the beach waiting for your PR and citizenship which will just drop into your lap with that sort of wealth.

[medina21]

Real property rights for 5 years is not freehold ownership in perpetuity, it's a 5 year lease priced at freehold values. Insanity.

 

[wombat]

5 hours ago, mokwit said:

 90 day reporting is about 

creating employment ....nothing more nothing less.

[kingstonkid]

5 hours ago, MajorTom said:

Good points.  BUT: Its certainly possible to grant something in between unlimited land/property ownership for commercial purposes and todays condo deal. I think for many, just the right to own ones private house would be sufficient.

I see no real reason that anyone would need to own a house of land for commercial purposes.  Unless they change the rules about businesses.

 

Also I think that most people do just you said want to own their own house.

 

I live in a garden community and would love to be able to just buy the garden home I am renting.

If GF is nice to me I might even leave it to her in my will.

 

BUT SHE IS GOING TO HAVE TO BE VERRRRRRY BAD TO BE VERY NICE.

[tgw]

4 minutes ago, kingstonkid said:

I see no real reason that anyone would need to own a house of land for commercial purposes.  Unless they change the rules about businesses.

 

Also I think that most people do just you said want to own their own house.

 

I live in a garden community and would love to be able to just buy the garden home I am renting.

If GF is nice to me I might even leave it to her in my will.

 

BUT SHE IS GOING TO HAVE TO BE VERRRRRRY BAD TO BE VERY NICE.

owning the premises is fundamental for running a successful business long-term, if well-located real estate is needed for doing so.

Edited September 20, 2021 by tgw

[kingstonkid]

1 minute ago, tgw said:

owning the premises is fundamental for running a successful business long-term, if well-located real estate is needed for doing so.

Yes but current Thai law does not allow you to own a business.

[Dogmatix]

44 minutes ago, medina21 said:

Real property rights for 5 years is not freehold ownership in perpetuity, it's a 5 year lease priced at freehold values. Insanity.

 

If they granted land ownership rights for 5 or 10 years, you can imagine the bribes that would be demanded to renew the special visa when they know you own land. That is basically what happens with BOI privileges, although I am not saying the BOI asks for bribes.  I think that foreign owned BOI promoted companies prefer not put their investment capital into land. It make more sense to rent or to set up a Thai nominee company to buy the land regardless of the BOI promotion. 

[mokwit]

4 minutes ago, tgw said:

owning the premises is fundamental for running a successful business long-term, if well-located real estate is needed for doing so.

That is why you can't own it - your Thai Landlord extracts your profits through rent - leaves you just enough to keep hanging on. It's all well thought out.

[MaiChai]

If they change the land laws it will give the Chinese something else to invest in than dodgy over priced real estate in China... Open the flood gates; I am sure the Thais are aware of this.

[tgw]

10 minutes ago, kingstonkid said:

Yes but current Thai law does not allow you to own a business.

correct, the next best thing is a long term lease, which is also very difficult to get

[xtrnuno41]

My country, many years, is investing in Thailand, that is also my money.

So now finally i can own land, having a long term visa and no more reporting?

It is about time.

However it would be right to control the amount of land.

Especially from USA, they are buying everywhere and dont care.

I remember a deal in Sudan, where 650000 ha land was bought for just 25000 dollar.

Land taken from locals. Free to use anyway they like. And thats not the only piece in Africa.

However that said, guess Chinese will do the same.

[Dogmatix]

6 minutes ago, xtrnuno41 said:

My country, many years, is investing in Thailand, that is also my money.

So now finally i can own land, having a long term visa and no more reporting?

It is about time.

However it would be right to control the amount of land.

Especially from USA, they are buying everywhere and dont care.

I remember a deal in Sudan, where 650000 ha land was bought for just 25000 dollar.

Land taken from locals. Free to use anyway they like. And thats not the only piece in Africa.

However that said, guess Chinese will do the same.

Look at the history of foreign land ownership laws in Thailand. In 1999 they allowed a rai of residential land in certain zones under impossible conditions and with the permission of the minister.  In the days of the treaties until the early 70s when foreigners were allowed to own land, the permission of the minister (the King in the days of absoute monarchy) was also needed.  Foreigners often complained that waited for years for this permission, although, of course, there were foreign purchases.  The British Club is a treaty purchase that survives to this day.  HSBC, Standard Chartered and East Asiatic Co also owned large pieces of land in central Bangkok, as did of course the British Embassy. The British Club had a good connection with King Vajiravudh at the time it got permission to buy its land, some of which was actually purchased from the King.  I am sure the other foreign companies that owned land had good connections to get the approvals.  I don't know if there were many ordinary Joes that were able to buy land in the treaty days. 

[SeaMike01]

This is a risky proposition. It would be very bad if the Chinese came in a bought up EVEN MORE property than they've already done with condos. It would be nice for farang if they could buy a house and some land, but I'm just afraid to see a land rush with a lot of unforeseen consequences.

[rwill]

6 hours ago, phka said:

If I was given full Thai citezenship I would move all my wealth to Thailand, and therse a lot of it

If I was offered Thai citizenship I would refuse it.  Permanent residency sure, citizenship no thanks.

[Orinoco]

I believe  what ever government in Thailand says 

Past, present and future.

Will be great to grow tomatoes in.

Farangs have never been  wanted. or valued. only there money has.

Watch out for the sting in the tail, on there scams.

 

[Nanaplaza666]

Allow it for 5 years and after those 5 years if have enough investors change the law again and take everything they own or tell them they have to marry a Thai and put it in their name . If not enough investors maybe extend it for 5 more and do the same thing after those five years , take everything back . 

[cheapcanuck]

It's just a pipe dream. It will never happen in my lifetime.

[Brickbat]

Aimed at the Chinese, me thinks!

[Artisi]

7 hours ago, Rampant Rabbit said:

would,  might ,  perhaps, maybe, same old  same old  full  on non committal..............perhaps?

Definite maybe.... 

[Scott Tracy]

8 hours ago, meechai said:

As for land ownership.......forget it. Thailand is too small with 70 million citizens

With a land area of over 513,000 square ki!ometers, every, and I mean everybody will have over 7000 square meters...1.7 acres...4.3 rai...

A family of 4, mum, dad and 2 kids, that's 28,000 square meters. 17 rai.

 

Isn't it?

 

Also, 5 million of that 70,000,000 are foreigners, so no land for them...

 

137 people per square kilometer..

Edited September 20, 2021 by Scott Tracy

[kingstonkid]

3 hours ago, xtrnuno41 said:

My country, many years, is investing in Thailand, that is also my money.

So now finally i can own land, having a long term visa and no more reporting?

It is about time.

However it would be right to control the amount of land.

Especially from USA, they are buying everywhere and dont care.

I remember a deal in Sudan, where 650000 ha land was bought for just 25000 dollar.

Land taken from locals. Free to use anyway they like. And thats not the only piece in Africa.

However that said, guess Chinese will do the same.

 

DON'T

 

[unblocktheplanet]

Big mistake! Let Canada serve as example. Our children will never be able to own their own house because Hong Kong escapees drove the market through the roof. Chinese, Euros and farang should NEVER be able to own Thai land.

[Dont confuse me]

Just in time for the high speed rail link to China, look what the Chinese have done to the housing market in parts of Australia! 

[ikke1959]

If it takes as long to investigate or bring to parliament as the Civil Union Bill or  same sex marriage it take many years before a foreigner can own land

[Stargeezr]

I agree that a foreigner should not be able to own land and a house if they are not married to a Thai.

  If a condo ownership is not good enough, then that is too bad.  The rich foreign people do make the

prices go up. It happens in many other places of the world, and Hawaii is a bad example, as it is only

the rich people who can afford to live in the cities in Hawaii, most locals live either on the fringes or

out in the country side, as prices are so high. In Vancouver Canada, the situation is the same, as well as Toronto,

where houses cost way more than in most other places in Canada.  Do not let just any foreigner own

the big houses and big acreages. or Rai in Thai.

Geezer

   

[hotchilli]

20 hours ago, meechai said:

For goodness sake....... Just fix the visa hassle for all.

Copy the USA....Give a 2 tear temp visa then in third year change it to permanent & make it a 10 year visa...

 

Most would be more than happy with just that with no silly 90 day checks....after all you gave a one year then you want them to check back every three months?

That was always a sore spot for most

 

As for land ownership.......forget it. Thailand is too small with 70 million citizens

Leave Thailand for Thai's

If you open ownership for foreigners it will soon price Thai's out of land ownership

 

Look at Hawaii...perfect example of a monarchy that made the mistake of letting foreigners own land

Next thing you knew the foreigners were asking their president back in their home country to protect their investments

Hawaii was then overthrown by the USA & the rest is history

All good thoughts, I like the visa idea, after 2-3 years of residing in Thailand you qualify for a 10 year visa, break any laws and it's revoked as a caveat.

As for land, if you want to buy/own land you must me married to a Thai and possibly have a minimum period each year that you must be in Thailand living at that address..... simple.

Should stop any speculators buying for investment or sub-letting.

[humbug]

22 hours ago, mahtin said:

So the actual news is just wait and see.

"in line with the master plan under the National Strategy (2018 - 2037) on the issue of future industries and services. and infrastructure Logistics and Digital " (thairath)

this is an important reference from the article, every government spokesman mentions the national strategy, it's actually false to say national, they are hiding its true intention

 

Every country signed with china on its 17+ 1 ie belt and road signs either a 20 year or 25 year national strategy, each strategy is connected with the chinese constitution from 2017, over the 20 years more laws are connected between china and thailand.

 

land rights is always what china wants for its people in countries like thailand, you can bet the details in mandarin will be far different in costs , to the details for all other foreign nationals, for this new land and visa programme

Edited September 21, 2021 by humbug