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Thailand eyes 1 million new expats with 10 year visas and land ownership

Seems a little unrealistic to me.

 

Lets look at the numbers, 1 million people, that's quite a target - in fact it's 1.4% of the current population of Thailand.

 

One million people each investing $1 million would bring more than $1 Trillion, or to be more precise 40 Trillion Baht into the economy and that's just with the investment requirement.

 

Then there's 1 million Rai which these new arrivals are supposed to purchase - where is that coming from?

 

That's about double the Thai GDP from a few years back which is no doubt considerably lower right now.

 

So, it's absolute nonsense in every way that it's possible for something to be absolute nonsense.
 

47 minutes ago, ukrules said:

Seems a little unrealistic to me.

 

Lets look at the numbers, 1 million people, that's quite a target - in fact it's 1.4% of the current population of Thailand.

 

One million people each investing $1 million would bring more than $1 Trillion, or to be more precise 40 Trillion Baht into the economy and that's just with the investment requirement.

 

Then there's 1 million Rai which these new arrivals are supposed to purchase - where is that coming from?

 

That's about double the Thai GDP from a few years back which is no doubt considerably lower right now.

 

So, it's absolute nonsense in every way that it's possible for something to be absolute nonsense.
 

 

The World Bank puts Thailand's GDP for 2021 at USD 505.98 billion.

 

To be fair the article doesn't give a time frame for the arrival of the 1 million well heeled foreigners. Also, each foreigner is not obliged to buy 1 rai. They could buy any amount up to 1 rai, although I don't really see anything under 0.5 rai being usable for someone with that kind of purchasing power.

 

0.5 rai is enough for a house, a small swimming pool and parking for 2 cars if it is designed well.

40 million baht plus the land plus the build ?

 

I can buy a mansion in South East Queensland for that

Is it already 1st April,again??

Righto. Off to the bank for a loan.

1. Invest 40 mill min 3 years.

2. Buy a small plot of land.

3. After 3 years pull out investment.

 

Does the foreigner remain entitled to keep land ownership ?

10 hours ago, 2 is 1 said:

So you have to have 1.1 million € and give up that for 3 years to get what!!!!!! 1 rai land. What kind house millionaire build in land size 1 rai!? Ok dont need cut grass coz dont have space for carden.

Sounds like some of the dreamer’s that plot theses scheme’s have got the THC level to high in what they’re smoking these days 

The law has been in existence for around 15 years already.. Maybe more. Its just that the law in existence was much easier with a requirement of 10 millions invested. Seems they have just inflated it and called it new. As far as I understand selling that before to a Thai owner was never out of the question either. I am wrong of course.. I have to be, but I see this new law as the same just 4 times more draconic.

1 hour ago, Willy Wombat said:

40 million baht plus the land plus the build ?

 

I can buy a mansion in South East Queensland for that

Or rent one for life on a lovely coastal spot on the Thailand coast and live like a king 

Looks like those with the idea ave had to hog-tie themselves with bureaucracy to keep the old school conservative happy

Look at success of Elite visa..... this will be the same.. a few people maybe will do it, but not even 100.000 .... but as usual except, hope, think, etc.... and results are always far far behind 

3 hours ago, blackcab said:

0.5 rai is enough for a house, a small swimming pool and parking for 2 cars if it is designed well.

Oh easily....a 2 storey house also makes that more spacious,

Surely it would be cheaper to get married and then get her to buy your land and then set up an unsfruct agreement give you rights and access. 

 

Obviously the marriage is an annoyance. 

 

 

That´s most generous! What an offer!

Original Elite visa came with land ownership rights only to be withdrawn some years later and those that purchased land had to sell up, to a Thai obviously. You have been warned. 

12 minutes ago, jonclark said:

Surely it would be cheaper to get married and then get her to buy your land and then set up an unsfruct agreement give you rights and access. 

 

Obviously the marriage is an annoyance. 

 

 

The userfruct would give right and access only whilst married. Any userfruct between husband and wife becomes null/void if divorced. You loose the rights and access just when needed.

Very impressing.

A 50 million house on a <deleted>ty 1 Rai plot.

Rediciuous ????

Another cooked up scheme one after the other similar to the cannabis saga and ten year visa, where they are thinking of ways to attract and tax Farang  & Co
 

Foreigners to own land has been brought up before.  The Thai government will never pass this in parliament. 
 

Waiting for the next bright idea. 

3 minutes ago, Hans Johnson said:

Foreigners to own land has been brought up before.  The Thai government will never pass this in parliament. 

Many times for probably over a decade..... don't see it happening. 

49 minutes ago, Peterw42 said:

The userfruct would give right and access only whilst married. Any userfruct between husband and wife becomes null/void if divorced. You loose the rights and access just when needed.

Absolutely, but still cheaper than parting with 40 million, plus land purchase/ house.

Just now, jonclark said:

Absolutely, but still cheaper than parting with 40 million, plus land purchase/ house.

If it fails just when you need it is it not money wasted? 

11 hours ago, Boomer6969 said:

How can they overrate the attractiveness of this dump so much.

TAT manages it daily.

12 hours ago, snoop1130 said:

include a minimum investment of 40 million baht for at least three years

I've spent that on bar girls and freelance chicks. 

 

I should have got receipts 

11 hours ago, kevc said:

Everything they talk about concerning foreigners is always down to how much money they can squeeze out of them, certainly makes you feel welcome and wanted.

Doesn’t it though 55555 , I love ❤️ Thailand, It’s people, Culture and food I’ve been retired here going on 6 years.

I’m convinced I’m an Astronaut and I’ve landed on a strange new world , Planet Thailand 55555 That’s ok though it’s more entertaining then aggravating I’ve gotten over that hump :) 

1 hour ago, Peterw42 said:

The userfruct would give right and access only whilst married. Any userfruct between husband and wife becomes null/void if divorced. You loose the rights and access just when needed.

It doesn't become automatically voided, but either party can request to cancel it.

The continually dangle the carrot then take it away. Who will invest 40 million baht (over 1 million USD) in a country that dictates to their residents!!

 

????

 

Certainly not me

Just now, dougiemac52 said:

The continually dangle the carrot then take it away. Who will invest 40 million baht (over 1 million USD) in a country that dictates to their residents!!

 

????

 

Certainly not me

Perhaps you are not one of the extremely wealthy that they are trying to attract anyway so guess they are not concerned about your opinion anyway ????

It sounds like they came up with this idea after 10 or more drinks each after Friday afternoon golf. Since the land can't be sold or bequeethed to someone who isn't Thai, If the foreigner dies, his foreign wife has to leave the house and land and she has to sell it no doubt for a loss. I think that the only people who'll agree to this will be desperate money launderers. Maybe the Military want Thailand to become the Hub of Money Laundering.

The pensioners will be queuing around the block for this, eh?... 

Has it appeared in the Royal Gazzette?