2 hours ago, Cake Monster said:

The type of people that Thailand would like to Invest in the Country, really are not gullible enough to fall for this kind of entrapment.

These people have mostly gotten their wealth from sheer hard work, and being savvy about the World in general.

They will not want to put all their hard work at risk with an Investment that could highly likely turn very sour very quickly, in a Country run by Tin Pot Soldiers with little or no idea about  the needs of Investors.

Dream on Prayut, and the rest of the rabble. When you can run your Country like professionals, then maybe try to entice the people you seek.

If you can prove your ability to run the Country well, the Investors will naturally come, and with them, their Money, which, when all is said and done, is the only reason you seek these people in the first place.

 

not to mention, even if the country was stable and well run, you can get a PASSPORT from some nice caribbean islands for HALF what they want you to invest here. own as much land as you want, and pay 0% tax with no need for work permits!!

 

 

1 hour ago, Misterwhisper said:

I likewise know dozens...  whose trusted Thai wife and her family, who usually are the "majority owners" of the limited company, sold the property and MADE the foreign husband "move on".  

yeah this happens a lot to the "ain't got a pot to <deleted> in" brigade

 

poor choice of wife, invested all their money in her name and forgot to make sure they are worth more happy than dumped ????

 

 

8 hours ago, webfact said:

However, the government is also determined that these new residents must have the ability to generate wealth and prosperity for the kingdom’s wider economy

These wealthy foreigners have to stay at an SHG** hotels every monday and thursday of every week of residence here.

 

They have to perform PCR test every week at the most high revenue yielding hospitals.

 

They should also buy an insurance to cover, where premiums would be calculated as a % of their net investment here.

5 hours ago, Kerryd said:

There is stuff in that article that may apply to you that wasn't included in the bit snipped/pasted in the OP.

Stuff like:
"In the last week, changes first introduced on October 1st last by the Ministry of Public Health in respect of enhanced requirements for any foreigner applying for an O/A Retirement visa were highlighted by Thai officials and international embassies.
 

This means that those applying for this retirement visa type, which should be differentiated from the normal O Non-Immigrant Retirement visa, must show hospital inpatient insurance of $100,000 or ฿3.4 million, an increase from the previous requirement of ฿400,000.
 

Higher medical coverage requirements for O-A retirement visa option but now Immigration Bureau will also accept self-insurance for those with assets

However, the Thai Immigration Bureau has, at the same time, provided an option for applicants to self insure provided that they have adequate capital and income available.
 

New health insurance regime for retirees living in Thailand means foreign firms can provide cover

The critical requirement for this option is to show ฿3 million in available assets including cash in the bank, available financial assets or ownership of property.
 

It is also understood that Immigration Bureau officers are authorised to accept evidence to show that any hospital bills will be paid for by sources from abroad.

This would apply to insurance provided to foreign retirees by their national governments or services in their home country.
 

The evidence requirement will mean that written documentation must be provided and certified by the foreigner’s embassy in Thailand.
 

New regulations do not yet impact the more popular Non-Immigrant O visas for marriage and retirement

These new arrangements do not impact current requirements for non Immigrant O visas or extensions either for marriage or retirement visas for now but may signal future intentions by the government which have also been regularly aired publicly by senior officials.

(So - rich Chinese in, old (white) retirees out. (Kind of like the "good guys in, bad guys out" motto of Immigration eh ?)

I wonder if the guy who gave 150 million in sinsod to a thaigirl in khon-kaen get allowed to buy any properties i HIS name.

6 hours ago, inThailand said:

Blah, blah, blah! They will not be allowing foreigners land / house ownership. Increasing foreigner owned condos is more likley, but still not going to happen in our lifetime. 

preventing increase in ownership of condos gives the intend away

27 minutes ago, mjakob007 said:

These wealthy foreigners have to stay at an SHG** hotels every monday and thursday of every week of residence here.

 

They have to perform PCR test every week at the most high revenue yielding hospitals.

 

.

Since when ?

4 hours ago, Orinoco said:

Nah.

All going to be a load of BS in the long run.

They don't want  us here,  just our money.

TIT.

 

 

thats for sure

6 hours ago, lujanit said:

So there you have it.  Select foreigners who work in Thailand.  Not pensioners.  What's the bet that a minimum salary which will be quite high will be the requirement?  When a person leaves the job they will be required to sell the property.

 

More money is number one,  more xenophobia.

Yes, it's called capitalism. It's got nothing to do with xenophobia. 

2 hours ago, mar zarych said:

Why would anyone in their right mind purchase property in Thailand (other than in support of a Thai person or family} when the price to rent is such a great deal. I've seen several nice homes upcounty for a few hundred dollars a month. No complicated paperwork and very little obligation. 

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.

Since I am retiring in Thailand I too hope Thailand is prosperous. Limited foreign direct ownership of residential property will be a boom for construction companies and laborers as well as building material suppliers. 

It would be nice if I could directly own my townhouse instead of playing a complicated corporate ownership shell game. 
 

Thailand needs to kick start it’s economy! This could help!

2 minutes ago, SteveAZ said:

Since I am retiring in Thailand I too hope Thailand is prosperous. Limited foreign direct ownership of residential property will be a boom for construction companies and laborers as well as building material suppliers. 

It would be nice if I could directly own my townhouse instead of playing a complicated corporate ownership shell game. 
 

Thailand needs to kick start it’s economy! This could help!

Townhouse ?

6 hours ago, Kerryd said:

This means that those applying for this retirement visa type, which should be differentiated from the normal O Non-Immigrant Retirement visa, must show hospital inpatient insurance of $100,000 or ฿3.4 million, an increase from the previous requirement of ฿400,000.

Okay... next?

 

6 hours ago, Kerryd said:

Higher medical coverage requirements for O-A retirement visa option but now Immigration Bureau will also accept self-insurance for those with assets

However, the Thai Immigration Bureau has, at the same time, provided an option for applicants to self insure provided that they have adequate capital and income available.

Okay... now what?

 

6 hours ago, Kerryd said:

New health insurance regime for retirees living in Thailand means foreign firms can provide cover

The critical requirement for this option is to show ฿3 million in available assets including cash in the bank, available financial assets or ownership of property.

Uhhhh.... okay?

 

6 hours ago, Kerryd said:

It is also understood that Immigration Bureau officers are authorised to accept evidence to show that any hospital bills will be paid for by sources from abroad.

AKA; more paperwork!

 

6 hours ago, Kerryd said:

New regulations do not yet impact the more popular Non-Immigrant O visas for marriage and retirement

These new arrangements do not impact current requirements for non Immigrant O visas or extensions either for marriage or retirement visas for now but may signal future intentions by the government which have also been regularly aired publicly by senior officials.

Indeed, the writing is on the wall. Brace yourselves for more and more restrictions along with ludicrous requirements.

 

6 hours ago, Kerryd said:

(So - rich Chinese in, old (white) retirees out. (Kind of like the "good guys in, bad guys out" motto of Immigration eh ?)

Pretty much. Caucasian tourists are clearly the least of their concerns now. It almost feels as if they were telling us "Thanks for supporting our economy to boom and thrive for the past 40 years but now that we are on par with neighboring countries economies, you're not needed (read: wanted) anymore. Go home.".

 

There you have it, I've been singing on this forum for months now that this was going to happen. Thailand is the next new Cambodia to the Chinese, see what the Chinese have done to places like Sihanoukville, you will see what's coming next to places like Pattaya, Rayong, Hua Hin, Phuket, etc, welcome to Chailand!

 

Might be an opportunity to buy a cheap house on 1 Rai. I'd consider it...if they consider my beer purchases from the local 7-11 to be financially contributing to the economy!

4 hours ago, Misterwhisper said:

a.k.a. foreigner ghettos

Let's face it; as long as there's a constant influx of cheap issan "working girls" with weekly arrivals, I'm sure a lot of these "foreigner" wouldn't mind living in their "ghettos".

4 hours ago, tomacht8 said:

Definitely going to be another super complicated and time consuming paper war monster with too many institutions and officials involved.

With a lot of brown enveloppes being handed out.

 

4 hours ago, tomacht8 said:

Then again and again various paper collection excesses from immigration, foreign ministry, tax authorities, health insurance, land office, local ampore, own embassy, BOI, banks, building authority, telephone company, electricity company, garbage disposal company, etc.

Yeah, there you are. Lots of brown enveloppes recipients, therefore lots of brown enveloppes to hand out.

 

5 hours ago, hotchilli said:

If I buy and own land and the house that sits on it I want permanent residency rights, not a 10 year visa and bu##er off.

Indeed that is the catch!

Retards.

 

My personal solution was to buy a house and land for 270K THB.  It is 3 minutes from a gorgeous west cost beach and in a quiet flower filled soi with no through traffic.

 

I have a life usufruct on the back of the chanote that cost me 75 baht at the land office.

 

The other day I registered as the Possessor TM30 at immigration and extended my Non O visa for 1900 baht.

 

I like my solution better.

5 hours ago, Ralf001 said:

If after 10 years you have not gained PR status then yes, you should <deleted> off.

Gaining PR is mainly possible through gainful employment in Thailand.

29 minutes 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.

Fair play, but could’ve been well beyond that today with that 1.2 bro. 
 

—
 

There’s still too many hoops with this system. The proper rich don’t want to mess around. Fools everywhere with their money and some will go for it, but the switched on wealthy tend to be even more frugal than the rest of us and abhor getting a bad real.  

3 hours ago, Misterwhisper said:

I likewise know dozens...  whose trusted Thai wife and her family, who usually are the "majority owners" of the limited company, sold the property and MADE the foreign husband "move on".  

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.

 

11 minutes ago, Morakot said:

Gaining PR is mainly possible through gainful employment in Thailand.

Employment is definitely the easier pathway but it is not the only way.

10 hours ago, webfact said:

The news is linked with an ongoing programme, first announced last April, to attract 1 million foreigners to come and live in Thailand over the next five years, a move which it is hoped could generate 5 to 6% of the country’s GDP in the future.

That sounds like a Golden Triangle pipe-dream. 

Don't hang on every government pronouncement, it will change. Only invest in Thailand what you can afford to lose and walk away feeling good. That will never change

I do not understand if the 10 year visa scheme for "wealthy" - $80/40 income ???? - will be accompanied with an onshore work permit. At least for retirees, getting a 20 year Elite visa and a 30 year lease remains more attractive for me.

10 hours ago, webfact said:

the scheme to attract 1 million foreigners to live and work in Thailand over the next 5 years.

Wow! I guess this is going to be the joke of the year because many of us are already learning and seeing many things from these:
-‘Scambox’,
-Covid travel restriction policies, 
-All the personal information being hacked from Thailand Pass
-The immigration visa rules and regulations keep changing from time to time by having more and more complicated requirements.
So I guess it is definitely very risky to invest your life earnings' funds on this scheme, especially with this government.

I think this could be the start of the end of the current retirement ext I never invested in thailand alway keep my interests outside to much rule changing and with it come higher risk.

Thailand is the bitcoin of retirement options

It would still be cheaper to rent than buy for ten years.

7 hours ago, rickudon said:

A million is fantasy - unless of course they are aiming at the Chinese.......

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

3 hours ago, node said:

 

Take your Thai other half, open a simple Thai restaurant on the beach you will be set for life in the Caribbean.

Until the inevitable hurricane comes.

11 hours ago, webfact said:

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

Perfected? ????