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

[KCPhuket]

Nope...keep babbling though...

[portlandtree]

Sneaky weasels 

 

 

 

[renaissanc]

1 hour 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. 

That's a very good point, Richard! When you get kicked out of the country how will you get your 40 million Baht back when you return as a tourist to try?

[Boomer6969]

Could someone start a survey as follows:

 

I have 40 Million Thai Baht to invest  in Thailand [ ],

I don't have 40 Million Thai Baht to invest in Thailand [ ].

 

 

Edited July 13, 2022 by Boomer6969

[NorthernRyland]

If I had 40 million baht I could afford not to live in Thailand so what's the point anyways?

[Bert got kinky]

1 minute ago, Boomer6969 said:

Could someone start a survey as follows:

 

I have 40 Million Thai Baht to invest  in Thailand [ ],

I don't have 40 Million Thai Baht to invest in Thailand [ ].

 

 

 

At last, one that I know the answer to.

I don't have 40 Million Thai Baht to invest in Thailand [ x ].

 

[mania]

555 Oh yes where do we sign? ????

 

Are these guys insane?

Invest 1.1 MILLION US Dollars in this xx ruled country and maybe in 3 years they can own some Thai dirt hahahah

Really that is pretty funny!

 

Imagine investing 1.1 Million USD in the USA real estate market & what that will be worth in 3 years

 

Now imagine  1.1 million invested in Thailand in 3 years what will be left?

 

Tell you what Thai govt...come to the USA we will let you buy land today!

That is how we roll

Edited July 13, 2022 by mania

[LookMoo]

1 hour ago, billsmart said:

I've been told, and by some Thai real estate lawyers, that US citizens can own 1 rai of land as a result of an agreement/treaty made between Thailand and the US during WWII. Has anyone else heard this or know anything more about it? ????

Yeas, you find more info about it on the internet. Its a deal USA got during the Vietnam war. But only for US. Citizens and there are some paperwork between US. Embassy and Thai government. Not for bar owners. 

[Stargeezr]

Thailand is really all about the money. Yours and they want more of it.

That is what I am reading. Not at all interested.

Next try.

[stoner]

this is possibly one of the dumbest things i have ever read in my life. 

 

you can get citizenship in some pretty decent places for around 100k. leaving you over a million dollars to stat your new life as a citizen of that country. 

 

i think ill stick with the thai offer thanks. 

[keystonecoppers2]

 

 

                     I think the parameters of the Webb telescope direction

                     are wrong. Should it not be pointing straight down

                     to Thailand, the Center of the Universe?

[Bert got kinky]

3 minutes ago, keystonecoppers2 said:

 

 

                     I think the parameters of the Webb telescope direction

                     are wrong. Should it not be pointing straight down

                     to Thailand, the Center of the Universe?

 

Uranus???

 

[sanuk711]

26 minutes ago, MrMuddle said:

I'd love to know more about this! 

Its not that greater deal .....MrMuddle, In Thai it is called a "Sidhi-kep-kina"  lot of non Thai's overlook the other laws in affect in this country-& think they can put the land in the wife's name & have a binding contract with her.

In Thailand you can not. 1/

So whats the other option--you buy from a 3rd party--Usufructs or any 30 year contract---build a house etc...is that a clever idea.

People run around touting that a Usufruct, is safe way to go--I have yet to see that in Thai law print .... only hear about it over a concrete table & a few Leo's

 

 

1/ (section 1466).

Any agreement concluded between husband and wife during marriage may be voided by either of them at any time during marriage or within one year from the day of dissolution of marriage; provided that the right of third persons acting in good faith is not affected thereby'.

 

2/ (sections 406-419 Civil and Commercial Code)-

This also means that if a Thai spouse has accepted property as a gift from the personal property of the foreign spouse who in return is given a right of usufruct over the property, both the gift and the usufruct could in theory be voided by either spouse Often it is much more complicated but a usufruct contract between husband and wife may not offer the often expected straight forward protection for the foreign spouse.

 

Many Thai law sites you can visit where its written in English--- these quotes come from  one a lot of expats use--กฏหมายไทย isn’t simple  https://www.samuiforsale.com/family-law/thai-marriage-and-contracts-between-husband-and-wife.html

 

[Dellboy218]

If you had 40 million Baht to give away I am sure you would already own many Rai already.  They mooted land for foreigners in 1997, was 3 or 5 Rai I cannt remember, with no such qualification.  This will be forgotten about just as quickly.

[Pib]

This was first proposed/flag first waved last year/2021 but got a lot of push-back by some members of Thai society and govt/parliament.  Then the govt said let us think work it some more and get back with you. 

 

I bet major push-back will continue by those who don't want foreigners to own land....they will cry that foreigners would ultimately end-up buying lots of land in Thailand with the help of corrupt Thai officials (slippery slope type thing) and pretty soon land prices zoom up out of the price range of Thais, many Thais would go homeles, no more rice fields to farm....just the end of the little Thai universe. 

 

This proposal will require a new law and I doubt there will be enough support in Parliament.  But hey, the current Parliament and Senate pretty much rubber stamp many cabinet proposals...if the cabinet "strongly" and "behind the scenes" supports the proposal then it will become law.

 

 

[Bday Prang]

2 hours 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.

Yeah ? Really ?    That's fine,.... in theory    but try living alone in your multi million baht mansion in "nakon nowhere"  once you have fell out with the missis, and the whole family and probably the rest of the village hate you.  Usufruct or not you won't last long, and it won't end well. Especially if she has a new Thai boyfriend and / or racked up  a few debts with the local mafia !!

                      When push comes to shove these usufruct / 30 year renewable leases etc, are not worth the paper they are printed on in practice, except for the slimy lawyers who organise / sell them them to naïve foreigners   I personally know 2 guys who found that out the hard way. One had his house burnt to the ground !!

                     More recently I guy I know tried to go down that route too, luckily for him he spoke to an "honest" Lawyer who told him straight " I can do it for you for 50,000 baht but you are wasting your money"  So think on , best not to buy what you can't afford to lose

[Iamfalang]

The beginning.    

 

Soon a Chinese "company" will invest 100 trillion Baht and buy all of CM.

 

Then you will pay 30,000 for rent.   

 

Once one Rai sells to foreigner...........there will be skyscrapers on every block.   

 

Hi-So is coming................don't underestimate the power of countries will Zillions of baht

[Iamfalang]

13 minutes ago, Bday Prang said:

  When push comes to shove these usufruct / 30 year renewable leases etc, are not worth the paper they are printed on in practice, except for the slimy lawyers who organise / sell them them to naïve foreigners   I personally know 2 guys who found that out the hard way. One had his house burnt to the ground !!

Totally agree.   Friend went to court, lost.  got nothing, lost everything.   became homeless after leaving Thailand.  

[Orinoco]

31 minutes ago, keystonecoppers2 said:

 

 

                     I think the parameters of the Webb telescope direction

                     are wrong. Should it not be pointing straight down

                     to Thailand, the Center of the Universe?

There you go

The center of the known universe.

shining so bright.

 

Edited July 13, 2022 by Orinoco

[Xonax]

Very few people with 40 Million Baht available to invest, would choose to live and invest in Thailand. 

[Purdey]

14 minutes ago, Bday Prang said:

Yeah ? Really ?    That's fine,.... in theory    but try living alone in your multi million baht mansion in "nakon nowhere"  once you have fell out with the missis, and the whole family and probably the rest of the village hate you.  Usufruct or not you won't last long, and it won't end well. Especially if she has a new Thai boyfriend and / or racked up  a few debts with the local mafia !!

                      When push comes to shove these usufruct / 30 year renewable leases etc, are not worth the paper they are printed on in practice, except for the slimy lawyers who organise / sell them them to naïve foreigners   I personally know 2 guys who found that out the hard way. One had his house burnt to the ground !!

                     More recently I guy I know tried to go down that route too, luckily for him he spoke to an "honest" Lawyer who told him straight " I can do it for you for 50,000 baht but you are wasting your money"  So think on , best not to buy what you can't afford to lose

Not sure why you are so angry with me. I happened to get the usufruct so I have the right to live here should my partner die before me. No lawyer can evict me as I have a legal contract issued by the Land Department. After I die, she will own it if she is still around, or her family will own it after we both die, in which case I don’t care.

[Thailand]

3 hours ago, NightSky said:

too little too late..

 

We just sold our home in Thailand (was in wife's name) and we're out. I would only ever rent in future.

Sold ours last year also, luckily, despite all the problems. Had a 30+ year lease as well.

Not leaving though, have a lovely little rental at a good price will do for us.

[Cake Monster]

Sounds like an excellent deal to me.

I think I will rush to the Bank and make my Transfer ASAP of 935,00 UK Pounds for their offer of a small plot of Land

[Bday Prang]

6 minutes ago, Purdey said:

Not sure why you are so angry with me. I happened to get the usufruct so I have the right to live here should my partner die before me. No lawyer can evict me as I have a legal contract issued by the Land Department. After I die, she will own it if she is still around, or her family will own it after we both die, in which case I don’t care.

I'm not angry with you , why should I be ? I was just pointing out the realities of life here.   it may not be a lawyer who evicts you , but  a long drawn out hate campaign can be very persuasive and somewhat more effective than a usufruct 

[Peterw42]

3 hours 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.

Until you get divorced. Any userfruct (or any contracts) between husband and wife are null and void if divorced.

[Excel]

4 minutes ago, Peterw42 said:

Until you get divorced. Any userfruct (or any contracts) between husband and wife are null and void if divorced.

And if you didn't trust your wife sufficiently that you considered a usufruct was necessary then perhaps you should never have got married in the first place.

[Mr Meeseeks]

I don't trust them with 1,000thb let alone 40 million.  ????

 

 

[Mr Meeseeks]

25 minutes ago, Purdey said:

usufruct

As a Scotsman I read that as yous are f*****.

[Enzian]

1 hour ago, renaissanc said:

When you get kicked out of the country how will you get your 40 million Baht back when you return as a tourist to try?

It's bad enough to have to keep 800,000+ baht in a bank here, and never be sure if your visa will be renewed, if Immigration will honor your reentry permit, not know if you die your heir can just walk in with a death certificate and will or have to get a lawyer and a judge's order, etc.

[kcpattaya]

I seriously wonder if these guys ever think before they talk?