Proposal would allow foreigners in Thailand to own 1 rai of land – but there’s a 40 million baht catch

[micmichd]

6 minutes ago, Muhendis said:

The true test, as has been said before, is can your non-Thai kids inherit your land after you die.

I think that would probably be "no".

In those circumstances, I would imagine the land would need to be sold to a Thai at some knock down price or taken by a government agency to be sold at auction.

As some have said. It is a blatant attempt to relieve foreigners of their hard earned capital. 

What about teaching your non-Thai kids to work at home and earn their own money instead of simply inheriting it? 

[2baht]

2 minutes ago, Phil1975 said:

This guy aint smashing the 0.2% THC gear 

Sometimes I think they're ALL high.

[Gottfrid]

30 minutes ago, RichardColeman said:

Very little point in owning any land with the visas here. You could well find yourself owning land and being barred from entry. 

And, how do you figure that? What is so hard with visa for staying in Thailand, if you live up to the requirements, that will say?

 

You know, you can´t take out money in a bank without ID either, but if you live up to the requirements it´s no problem.

[2baht]

19 minutes ago, ezzra said:

and as for the 40 million catch, might as well be 4 billions baht...

Their way of saying "We don't want foreigners!"

[metisdead]

Some troll posts have been removed.

[Isaan sailor]

Darn!  I’ve invested all my life savings in Thailand for the last three years—only amounting to 39 million Baht.  Whatever shall I do now?

[Gottfrid]

2 minutes ago, 2baht said:

Their way of saying "We don't want foreigners!"

No, it´s their way of saying, we do not want foreigners that can not invest a guarantee sum of 40 million baht to be able to own land. If you have the capital and wish to invest and buy, then you are free to do so. If not, foreigners are still welcome on all from tourist visas and retirement extensions as well as marriage extension and Elite visas. You will also be free to live in a house that is owned buy your wife. Actually nothing changed. The only thing that has appeared is an opportunity for the ones who wish and can.

[2baht]

3 minutes ago, Isaan sailor said:

Darn!  I’ve invested all my life savings in Thailand—only amounting to 39 million Baht.  What shall I do now?

 Grow a few plants!

[Gottfrid]

4 minutes ago, Isaan sailor said:

Darn!  I’ve invested all my life savings in Thailand—only amounting to 39 million Baht.  What shall I do now?

Make another million. No probs! ????

[Bert got kinky]

12 minutes ago, jacko45k said:

Sounds good.....but there is quite a risk involved. 

 

Maybe, but I did say 'trust absolute'

While that is no guarantee that your money is safe, I would rather risk my arm with a few million Baht to someone that I do trust absolute, rather than 40 million to an unstable and untrustworthy (allegedly) military government, who may not even be in the country by the time the three years is up.

 

[4MyEgo]

1 hour ago, cheapcanuck said:

Just another scheme to milk foreigners out of their money.

I'll stick with renting.

I could buy in Australia for that kind of money, and many other places around the world that are 1st class countries, so why would I buy here when it's a "developing country", especially when real estate here is not something that increases cyclically to the extent like other places, i.e. doubles in value within a decade.

 

Another dead duck in the water.

[rwill]

If they do pass this they can also work out dual pricing on property taxes.

[jacko45k]

17 minutes ago, Bert got kinky said:

 

Maybe, but I did say 'trust absolute'

While that is no guarantee that your money is safe, I would rather risk my arm with a few million Baht to someone that I do trust absolute, rather than 40 million to an unstable and untrustworthy (allegedly) military government, who may not even be in the country by the time the three years is up.

 

My point is that you may trust her absolutely, but that is a far cry from her being deserving of it! I was having a discussion along those lines only yesterday.... elderly Western men seem to lose it when they are getting loving attention from a 25 year old! 

[finnomick1]

So after 3 years you can take your money out. No, I didn't think so either.

[Bert got kinky]

1 minute ago, jacko45k said:

My point is that you may trust her absolutely, but that is a far cry from her being deserving of it! I was having a discussion along those lines only yesterday.... elderly Western men seem to lose it when they are getting loving attention from a 25 year old! 

 

Sorry but if you are an elderly man who has fallen head over heels with what is basically a child, then you deserve to be picked off. ????

Sort of like a 'Darwin Award' but without the dying part.

 

[MrMuddle]

1 hour ago, Purdey said:

No mention of permanent residents, who do not need to transfer money from abroad.

Readers may be interested to look into usafruct agreements if you have a Thai spouse. I read abou it on this site many years ago. Buy in his/her name, sign an usufruct agreement and have full rights to live in and use the property for the rest of your life. More reasonable, I think.

I'd love to know more about this! 

[jacko45k]

Just now, Bert got kinky said:

 

Sorry but if you are an elderly man who has fallen head over heels with what is basically a child, then you deserve to be picked off. ????

Sort of like a 'Darwin Award' but without the dying part.

 

It does happen...... 

I knew one Thai lady, who was not a youngster but seemed to attract men quite well,  was on her 4th relationship where she had got money and property from men who simply let her control everything... Darwinism it might be, but my point about giving absolute trust too easily,  is the only comment I make. 

[Bert got kinky]

6 minutes ago, jacko45k said:

It does happen...... 

I knew one Thai lady, who was not a youngster but seemed to attract men quite well,  was on her 4th relationship where she had got money and property from men who simply let her control everything... Darwinism it might be, but my point about giving absolute trust too easily,  is the only comment I make. 

 

Sorry, not meaning to pick on your posts but there is a massive difference between giving absolute trust too easily and giving absolute trust to someone who has earned it.

Real trust HAS to be earned otherwise it is not trust but is in fact a pipe dream.

 

[RichardColeman]

54 minutes ago, Gottfrid said:

And, how do you figure that? What is so hard with visa for staying in Thailand, if you live up to the requirements, that will say?

My point was simply that you are risking 1 million quid on the whim of the next general in the next coup ! Personally, I'd invest 1 million quid in a UK property and live in Thailand on the rental income - knowing I had somewhere to live if it goes bits up ! I prefer a plan to a risk.

[Bert got kinky]

 

In fact, I am all for old men who stupidly trust their teeraks who are bleeding them dry.

It keeps the gold diggers away from my sons.

 

[Purdey]

7 minutes ago, MrMuddle said:

I'd love to know more about this! 

I have a house under an usufruct so I can vouch for this. I suggest using the search function on this site using just one word, usufruct. I found 9 mentions. Try this first. 

 

 

[Chongalulu]

1 hour ago, Orinoco said:

That's about 930,000 GBP to live in a  home on one rai  !!!!!!!!!!!!!!!!!

What a load of jokers.

 

The level of economic understanding amongst so many government officials here would suggest an IQ barely above single figures. It really doesn’t bode well for a country trying to address a volatile global economic crisis. 

[Reposed]

Mr. Bring-yo-money also said "we have yet another scheme in the works. We are offering photos of beautiful Thai lady to any dirty but classy farang who send me 1 million baht but never comes here."

[saakura]

If renewing the 40 million baht investment after the three year period is not a condition for continuing to own the land, many foreigners will be interested to see further details. If allowed to invest it in stocks or bonds, a 3 year period is quite short. And one rai of land is good enough for a nice house with a small garden and pool.

[brianthainess]

4 hours ago, webfact said:

However, foreign buyers would be required to invest 40 million baht in Thailand for a period of three years in order to be eligible for land ownership.

And report every 90 days 

[Chongalulu]

8 minutes ago, RichardColeman said:

My point was simply that you are risking 1 million quid on the whim of the next general in the next coup ! Personally, I'd invest 1 million quid in a UK property and live in Thailand on the rental income - knowing I had somewhere to live if it goes bits up ! I prefer a plan to a risk.

Exactly what I did when coming here 8 years ago. A large appreciation in the capital value and a monthly rental of £4000 . No capital gains /IHT to worry about either when the missus eventually inherits it and can do what she likes with it.

[Orinoco]

6 minutes ago, saakura said:

 one rai of land is good enough for a nice house with a small garden and pool.

And what about the fantastic neighbor's you can have in Thailand.

1 rai, is way to small to put any distance between you and  the anti social behavior of some Thai people.

No thank you.

 

 

 

 

[brianthainess]

Can I invest 10 million a 1/4 of a ria will do me. bloody gardening in old age is no joke.

[portlandtree]

2 hours ago, Orinoco said:

Well you know what they can do with there latest business's model

I suggest using lube.

 

[Bert got kinky]

 

I would be willing to be a test pilot on this scheme, if someone could please front the million quid.