Wealthy foreigners to own small landholdings associated with homes here agreed in principle

[PETERTHEEATER]

11 hours ago, webfact said:

........when perfected and approved by the cabinet........

Perfected? ????

[John Drake]

Has there been any good news about Thailand in the last 12-18 months (economic, political, health, environmental, crime, corruption, or social) that would make one million people wealthy enough to meet all these qualifications then do so in order to build a shack on one rai of land?

Edited February 2, 2022 by John Drake

[Captain Monday]

39 minutes ago, GrandPapillon said:

Chinese are not about to return, their new leader is putting in place strict measures for them to stop travelling abroad

 

they are going back in time Mao style,

 

good riddance, and a welcome change for the world

Xi stiffening outflow capital controls and happy to keep the population within its borders for now. Nothing will change with China until the big party congress in Nov where he is to be enthroned in the panoply of greats like Mao/Deng. Or there is speculation he could be toppled with the failure of his economic and covid zero policies proven? No chance of Chinese tourists until next year for sure.

[generealty]

Ralf001 - It's just the very aggressive manner in which you responded to the OP. Thats why I said 'My my get out of the wrong side of the bed'. Why be so aggressive ? Does it serve any purpose ?

[Flink]

I love the way they keep referring to it as a "10 year visa" when it is, in actual fact, 2 x 5 year visas. So they expect people to come here and spend millions on a price over inflated, p1ss poor quality postage stampplotof land which they will most definitely lose money on. The scheme willl roll out and the 1 million projected will prove to be closer to 100. Those 100, having got their first 5 year visa and bought their postage stamp pieceof swamp and built a house on it, will then read about how the government has had a rethink because the scheme isn't bringing in the cash they expected so is being scrapped. Those 100 will then have just the 1 five year visa and end up having to sell the land/house for a fraction of what they paid for it before their visa expires. Another "get rich quick" scheme from TAT/government, and like all such schemes it is bound to fail and cause suffering to many (but not those organising it) in the process. 

[BangkokReady]

To quote the progressive liberal Thais: "Not that liberal!"

[Joules]

"Qualified foreigners"?  And the rest of us that have poured out souls (and money) into Thailand for 15-20 years?  Dog meat.

[Rodjrin]

If I had that kind of money it would be well spent elsewhere.

[Jimjim1]

So they want to pander to people who can generate 5 to 6% of the countries GDP whilst turning there backs on the tourist trade that generated more than 20% GDP pre covid and could do so again if they dropped the ridiculous rules governing entry.

Obviously sound economics to the military mindset. 

 

[Blumpie]

Let's get a thousand threads ready about how foreigners can't sell their land at a regular price because Thais will offer them half price.  

I wouldn't buy land in Thailand as a foreigner.  Maybe I'm the minority but let me assure you that you are asking for big big big trouble.  

[laislica]

16 hours ago, ukrules said:

I can see it now, triple priced houses in the special rip off zones.

Thai's had better brace themselves for dramatic price rises. 

Under Franko, only Spanish could own  property and prices were stable.

After Franko, foreigners could own property.

Prices rose to the point that the locals could hardly afford to get on the property ladder.

[Elkski]

Conversation went like this.

How can we get more money out of foreigner's and not have those 2019 hordes everywhere? 

Maybe Iet them buy a Rai in certain areas. 

Make sure they are rich.

Let's try it out for 10 years. 

Actually  I give up. could anyone imagine how this  brainstorming session goes.?   I bet they eat lots of bananas in that cage. 

 

Spider mike summed it up best. 

Leave home country and move to where my Lambo costs 2x.  Roads are scary deadly, low English skills off the top shelf.  Build a house on .4 acre in a select community.  I imagine they would have to hire foreign trustworthy ex mil security for that prime theft kidnapping spot. 

Oh yeah the police work for highest bidder until their real boss calls.  Your rich so move to where the bad air will take 3 years off your life.  

[Karma80]

I wonder how attractive your investment in Bangkok property is in 10 years time thanks to climate change and flooding.

[thaibook]

7 hours ago, Raphael Hythlodaeus said:

Because I bought a 100 sq.m condo in Bangkok 38-years ago for 1.2 million baht which is now worth at least 5-million. Meanwhile, I now pay condo maintenance fees of 2,600 baht a month when I would have to pay 30,000 baht / month rent for the same apartment. 

I wonder who exactly is in their right mind.

condo fee of 26 THB per sq m - this is a tightly run condo building, lucky man

[thaibook]

6 hours ago, NanaSomchai said:

I know better. I've been in those shoes... ...twice.

 

Being ripped off once by a Thai wife and her family can be an unfortunate incident, being ripped off twice is a pattern.

 

Hence why I've left Thailand mid 2018 with no intention to (ever?) return.

 

Fool me once shame on you, fool me twice shame on me.

 

letting it happen twice is carelessness. ..

[NanaSomchai]

27 minutes ago, thaibook said:

letting it happen twice is carelessness. ..

Which is why I'm now being extremely cautious; withdrawn any remaining funds I may have had in any Thai banks, removed the ex's from my rental contracts across Europe, switched SIM cards and email addresses, closed down LINE accounts, closed down Facebook pages and dropped friends left and right.

 

I have zero intentions of returning to Thailand, no intentions to jump right back into it.

 

Once I get to retirement age? We'll see. But right now? Not.

[Raphael Hythlodaeus]

1 hour ago, thaibook said:

condo fee of 26 THB per sq m - this is a tightly run condo building, lucky man

Yes, and not badly run at all. High condo maintenance fees are yet another scam in Thailand. There is also a 2 THB per sq.m charge for the Sinking Fund for major expenditures, plus Yearly Building Insurance and apartment maintenance, so realistically more like 5,000 THB a month compared to rental of 30,000 THB. But that's in fairly central Bangkok (Ekamai), not in Nakhon Nowhere.

 

However, I've been here a long time so for newbies looking for retirement I think renting outside of Bangkok is probably better, rather than tying up capital, especially in view of all the pitfalls in buying property in Thailand.

Edited February 2, 2022 by Raphael Hythlodaeus

[natway09]

If you have the money they are talking about you can do all these things now.

The land ownership subject with me still has the jury still out.

I control about 95 Rai.

The enclaves that develop with foreign land ownership can create major problems even NZ is tightening up. Australia has seen some nasty areas created (in one they even shot the Mayor)

In countries where farming land ownership is the only chattel they own (like Thailand rural)

the appeal of a one time sale is hard to resist & ends up creating more misery.

20 + 20 (option) legal leases appeal 

[Mike k]

17 hours ago, DaveE13 said:

The thais have got to get rid of the soppy old dinosaurs 

A high  powered government commite chaired by pinnochio ????????????????????????

Not to mention the one that can't be named 

[ross163103]

I thought foreigners could already own 1 rai for residential purposes.........at least that's what I've heard for 25+ years. Saying that I've never heard of this rule being used, probably one of those "TIT" things that is so convoluted it never comes to fruition.

[Soikhaonoiken]

Wait for the catch.... Because there will sure be one... 

[ericthai]

19 hours ago, Silencer said:

Since you can buy a house, or buy land and build a house now, through using a Thai limited company, and sell it again later if you want, I don't see what the big deal is with "owning" land in the western sense? Just seems like a topic to complain about even though you can achieve 'almost' the same results under current rules. I know dozens of people here that own their houses through a Thai limited company arrangement. Some have recently sold their property and moved on. 

The big deal is that you're friends dont really own the land/house.  

They own 49% of a Thai company along with 2 or more thais that own the other 51% of the company and the only reason for the company to exist is for land ownership which is illegal but is being ignored for now. 

 

You know this is Thailand and just because something is done doesn't mean that it's legal.

Things can change at anytime, It only takes one person high enough up in the government to

get <deleted> about something for changes to happen. I've lived and worked in Thailand for decades and things that 

would be allowed and accepted 25 years ago are now very strictly enforced. 

[Orinoco]

12 hours ago, Blumpie said:

Let's get a thousand threads ready about how foreigners can't sell their land at a regular price because Thais will offer them half price.  

I wouldn't buy land in Thailand as a foreigner.  Maybe I'm the minority but let me assure you that you are asking for big big big trouble.  

+1.

Also bringing big money into Thailand is a fools game now days.

Those in power, now or in the future,  can not be trusted.

They will just go back on any deal down the road.

Thailand is way to dishonest now.

 

[thaibook]

12 hours ago, NanaSomchai said:

Which is why I'm now being extremely cautious; withdrawn any remaining funds I may have had in any Thai banks, removed the ex's from my rental contracts across Europe, switched SIM cards and email addresses, closed down LINE accounts, closed down Facebook pages and dropped friends left and right.

 

I have zero intentions of returning to Thailand, no intentions to jump right back into it.

 

Once I get to retirement age? We'll see. But right now? Not.

You seem to have been thorough.  Unless she or a relative feel insulted for one reason or another there should be no problem to come back later.

 

Many years ago, I had a Thai business partner, with a well known name, at a restaurant my wife ran in London.  His approach was quite different and we fell out.  I bought out his share, he was vindictive telling Thais that if ever I went to Thailand he would have me killed, which did not prevent me going but it worried my wife.  Some years later he was working in Taiwan and behaved in a similar way.  However the Taiwanese partner reacted by having someone ambush and crack him over the head.  He nearly died but while recovering in hospital he let it be known that I was forgiven.   

[metisdead]

A post containing content from BANGKOK POST GRAPHICS has been removed as per forum rules. 

[Guest Isaanlife]

14 hours ago, Blumpie said:

Let's get a thousand threads ready about how foreigners can't sell their land at a regular price because Thais will offer them half price.  

I wouldn't buy land in Thailand as a foreigner.  Maybe I'm the minority but let me assure you that you are asking for big big big trouble.  

 

14 hours ago, Blumpie said:

Let's get a thousand threads ready about how foreigners can't sell their land at a regular price because Thais will offer them half price.  

I wouldn't buy land in Thailand as a foreigner.  Maybe I'm the minority but let me assure you that you are asking for big big big trouble.  

You don't have the power to assure anything.

 

You are only a guest, same as the rest of us

[Guest Isaanlife]

21 hours ago, Raphael Hythlodaeus said:

Because I bought a 100 sq.m condo in Bangkok 38-years ago for 1.2 million baht which is now worth at least 5-million. Meanwhile, I now pay condo maintenance fees of 2,600 baht a month when I would have to pay 30,000 baht / month rent for the same apartment. 

I wonder who exactly is in their right mind.

Compare that to a property we own in US that increased 6,000,000+ baht in past 2 years?

Edited February 3, 2022 by Isaanlife

[mokwit]

6 hours ago, ericthai said:

Things can change at anytime, It only takes one person high enough up in the government to

get <deleted> about something for changes to happen.

Exactly, Anutin got in a huff about supposed huge hospital bills run up by foreigners and OA visas had an insurance requirement added. To this day I feel that what happened is someone asked the MoFA which issues *VISAS* what the retirement visa is and got told the OA - 1 yr EXTENSIONS which is probably what they would lnfo have included if they had got full info  was overlooked*. As I understand it short term tourists having motorbike accidents are the main hospital admission, although I would expect retirees falling ill to be significant.

 

 

*yes I understand the inference here is that the Thai Government doesn't understand its own visa legislation

Edited February 3, 2022 by mokwit

[Raphael Hythlodaeus]

35 minutes ago, Isaanlife said:

Compare that to a property we own in US that increased 6,000,000+ baht in past 2 years?

Sure thing -- so go and stay in the US. I'm just comparing costs in Thailand.

[mokwit]

2 hours ago, Orinoco said:

+1.

Also bringing big money into Thailand is a fools game now days.

Those in power, now or in the future,  can not be trusted.

They will just go back on any deal down the road.

Thailand is way to dishonest now.

 

I now regard the Thai Government as completely and utterly untrustworthy, as evidenced by their appointee "Joke" changing retirement requirements without grandfathering. All those who are going to come in and tell me it is still 800k/65k, you don't know what you are talking about. Even "Thailand is for the Thai" Hakka Chinese Immigrant Thaksin knew you can't make changes like that without grandfathering.

 

I ran down balances and transferred money OUT when this lot came to power in 2014 as the risk of capital controls was real IMHO. The idea that I would invest here other than from an offshore stock account (if even that) is laughable. The last lot brought in capital controls in the financial markets - albeit for the one full day it took people who understood these things to get through to them, but that was enough for me to give back a lot of profit in the SET.

 

Pro tip:  Running an army base qualifies you to run an army base.