Popular Post webfact Posted July 12, 2022 Popular Post Share Posted July 12, 2022 A pool villa in Pattaya. File Photo. fokke baarssen / shutterstock By Online Reporter A proposal being drafted by the Interior Ministry would see foreigners in Thailand allowed to own up to 1 rai of land for residential purposes. 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. The move was announced by Deputy Interior Minister Nipon Boonyamanee on Monday, who said a proposal will be put before Cabinet for approval. Mr Nipon explained how the ministry is exploring ways to stimulate real estate sales among foreign business people with high spending power. Full story: https://www.huahintoday.com/thailand-news/proposal-would-allow-foreigners-in-thailand-to-own-1-rai-of-land-but-theres-a-40-million-baht-catch/ -- © Copyright Hua Hin Today 2022-07-13 - Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here. Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more! 2 3 62 Link to comment Share on other sites More sharing options...
Popular Post pomchop Posted July 12, 2022 Popular Post Share Posted July 12, 2022 Obviously the new ganja has resulted in even more vivid pipe dreams. 24 1 86 Link to comment Share on other sites More sharing options...
Popular Post RandiRona Posted July 12, 2022 Popular Post Share Posted July 12, 2022 Lol...another useless half cooked scheme from deputy interior minister. Hard pass!! 33 3 5 Link to comment Share on other sites More sharing options...
Popular Post ukrules Posted July 12, 2022 Popular Post Share Posted July 12, 2022 I wonder if continuing to own the land is linked to renewing the investment after the three year period. Also this bit was interesting : Quote In addition, Mr Nipon said the ministry aims to reduce the transfer and mortgage fees to 0.01 percent for properties which cost more than 3 million baht. 3 1 Link to comment Share on other sites More sharing options...
Popular Post KIngsofisaan Posted July 12, 2022 Popular Post Share Posted July 12, 2022 Only the extreme 1% richest that want a property in Thailand would go for that and then 1 rai is probably not enough for a Mega Mansion. 18 7 Link to comment Share on other sites More sharing options...
Popular Post Dan747 Posted July 12, 2022 Popular Post Share Posted July 12, 2022 This is a "NO GO"-I'm "OUT!!" 2 9 Link to comment Share on other sites More sharing options...
Popular Post pacovl46 Posted July 12, 2022 Popular Post Share Posted July 12, 2022 This is already possible, although it's 5 years of investment and it's a smaller amount of money, don't remember how much it actually was, and if you were to build a house on it then you'd have to live in it yourself. 6 Link to comment Share on other sites More sharing options...
Popular Post cheapcanuck Posted July 12, 2022 Popular Post Share Posted July 12, 2022 Just another scheme to milk foreigners out of their money. I'll stick with renting. 26 5 Link to comment Share on other sites More sharing options...
Popular Post Orinoco Posted July 12, 2022 Popular Post Share Posted July 12, 2022 Well you know what they can do with there latest business's model I suggest using lube. 3 1 14 Link to comment Share on other sites More sharing options...
Popular Post NightSky Posted July 12, 2022 Popular Post Share Posted July 12, 2022 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. 15 1 Link to comment Share on other sites More sharing options...
Popular Post Orinoco Posted July 12, 2022 Popular Post Share Posted July 12, 2022 That's about 930,000 GBP to live in a home on one rai !!!!!!!!!!!!!!!!! What a load of jokers. 32 2 Link to comment Share on other sites More sharing options...
Popular Post Purdey Posted July 12, 2022 Popular Post Share Posted July 12, 2022 (edited) 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. Edited July 12, 2022 by Purdey 15 2 Link to comment Share on other sites More sharing options...
Popular Post 2baht Posted July 12, 2022 Popular Post Share Posted July 12, 2022 They will need to employ more immigration officers, people will be coming in droves for this wonderfully generous offer! ???? 2 35 Link to comment Share on other sites More sharing options...
Popular Post whaleboneman Posted July 12, 2022 Popular Post Share Posted July 12, 2022 Great scheme: buy property at farang price but forced to sell at Thai price because you're the only numpty that fell for it. 9 2 6 Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted July 12, 2022 Popular Post Share Posted July 12, 2022 Very little point in owning any land with the visas here. You could well find yourself owning land and being barred from entry. 32 4 Link to comment Share on other sites More sharing options...
Popular Post mvdf Posted July 12, 2022 Popular Post Share Posted July 12, 2022 3 hours ago, webfact said: A proposal being drafted by the Interior Ministry would see foreigners in Thailand allowed to own up to 1 rai of land for residential purposes. 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. Such disproportionately unfair terms. Invest more than USD 1 m for 3 years (and expose it to local risks) to be eligible to buy something that's just as risky, if not even more. 9 1 Link to comment Share on other sites More sharing options...
Popular Post starky Posted July 12, 2022 Popular Post Share Posted July 12, 2022 7 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. Very popular tactic in the Phillipines. 5 Link to comment Share on other sites More sharing options...
Popular Post Tracyb Posted July 12, 2022 Popular Post Share Posted July 12, 2022 (edited) 38 minutes ago, Orinoco said: I suggest using lube. …or not! Edited July 12, 2022 by Tracyb 8 Link to comment Share on other sites More sharing options...
Popular Post 2baht Posted July 12, 2022 Popular Post Share Posted July 12, 2022 40 million baht, cheap for your own slice of the Centre of the Universe! 12 Link to comment Share on other sites More sharing options...
Popular Post ezzra Posted July 12, 2022 Popular Post Share Posted July 12, 2022 3 hours ago, webfact said: he move was announced by Deputy Interior Minister Nipon Boonyamanee on Monday, who said a proposal will be put before Cabinet for approval. Why is the proposal now? dose the good minister has some properties he'd love to off load to foreigners now? and as for the 40 million catch, might as well be 4 billions baht... 4 Link to comment Share on other sites More sharing options...
Popular Post Bim Smith Posted July 12, 2022 Popular Post Share Posted July 12, 2022 Never to be trusted. The original Elite Visa came with land owning rights only to be withdrawn years later and they had to be sold. This time round you would be 40 million out of pocket. 16 11 Link to comment Share on other sites More sharing options...
Popular Post 2baht Posted July 12, 2022 Popular Post Share Posted July 12, 2022 1 11 Link to comment Share on other sites More sharing options...
Popular Post Bert got kinky Posted July 12, 2022 Popular Post Share Posted July 12, 2022 (edited) Proposal would allow foreigners in Thailand to own 1 rai of land Or just marry a Thai lady that you want to spend the rest of your life with and who you trust absolute. Edited July 12, 2022 by Bert got kinky 12 2 1 5 Link to comment Share on other sites More sharing options...
Popular Post Muhendis Posted July 12, 2022 Popular Post Share Posted July 12, 2022 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. 22 6 Link to comment Share on other sites More sharing options...
Popular Post 2baht Posted July 12, 2022 Popular Post Share Posted July 12, 2022 1 minute ago, Bert got kinky said: Or just marry a Thai lady that you want to spend the rest of your life with and who trust absolute. That's it Bert, I did it 30 years ago. ???? 9 2 Link to comment Share on other sites More sharing options...
billsmart Posted July 12, 2022 Share Posted July 12, 2022 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? ???? 2 3 Link to comment Share on other sites More sharing options...
Popular Post steven100 Posted July 12, 2022 Popular Post Share Posted July 12, 2022 One rai of land .... a big house on it ..... 40 million baht invested ... hmmm ..... and you could lose the lot in a couple of years quite easily .... TIT 6 1 Link to comment Share on other sites More sharing options...
Popular Post Phil1975 Posted July 12, 2022 Popular Post Share Posted July 12, 2022 This guy aint smashing the 0.2% THC gear 3 Link to comment Share on other sites More sharing options...
Popular Post jacko45k Posted July 12, 2022 Popular Post Share Posted July 12, 2022 6 minutes ago, Bert got kinky said: Proposal would allow foreigners in Thailand to own 1 rai of land Or just marry a Thai lady that you want to spend the rest of your life with and who you trust absolute. Sounds good.....but there is quite a risk involved. 5 1 Link to comment Share on other sites More sharing options...
Popular Post klauskunkel Posted July 12, 2022 Popular Post Share Posted July 12, 2022 Quote Proposal would allow foreigners in Thailand to own 1 rai of land – but there’s a 40 million baht catch the other catch is that you have access to your land between 11am to 2pm and 5pm to midnight only and not at all on holidays. 1 11 Link to comment Share on other sites More sharing options...
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