Thai cabinet open up country for sale to foreigners - but there's a 40 MB catch

[2 is 1]

44 minutes ago, Neeranam said:

A Thai has to invest $500,000 to get a multi year retirement visa in the USA. 

Retirees here have it too easy in my opinion, leading to moaning at any difficulty, like spending 1 hour a year and $50 in immigration.

Yes! Normaly people from 3rd world countrys has little more difficulties to entrance "modern" world!

You have always same record running in your respons! And whitch Thai anyway want or try get retimremet visa in USA!? Red Bull boss family and friends! That really not concern normal Thai people! And what like USA get if they let thousands Thai farmers entrance in!? More immigrant problems. But Thailand need farangs money to buy new subs and other sht.

 

Edited October 26, 2022 by 2 is 1

[MadMac]

Nothing new here. Comes and goes at least once every year. Now it this time apparently.

 

[Neeranam]

8 minutes ago, 2 is 1 said:

Yes! Normaly people from 3rd world countrys has little more difficulties to entrance "modern" world!

You have always same record running in your respons! And whitch Thai anyway want or try get retimremet visa in USA!? Red Bull boss family and friends! That really not concern normal Thai people! And what like USA get if they let thousands Thai farmers entrance in!? More immigrant problems. But Thailand need farangs money to buy new subs and other sht.

 

No, as a Brit, I would also have to invest $500,000 for a retirement visa in the USA. 

Same in Australia, who are very choosy who they let in, unlike Thailand.

Until there is there is some kind of reciprocal agreement, Thailand will make it hard for foreigners to buy land. 

I know a few Thais who would want to retire to the US and Oz, but they can't. 

 

 

[ourmanflint]

Why would you want to buy land in the first place? What are you going to be able to do with it?

[twix38]

Retirees having a spare 40 million baht! lmao

40 million baht just to own my own home and land it sits on. 

why would I? if anything it makes me feel more determined NEVER to buy but only rent. much safer and no real term commitment to put up with anything - problem neighbours, dogs, construction, karaoke, loudspeakers, bars, noise of any sort, boundary or legal issues etc that can start up at any time and totally blight life.

NAH!

[Khunangkaro]

555

???? Speechless ???? ???? 

[BritScot]

3 hours ago, cocoonclub said:

How is that different from the US, the EU, or any other country? I have yet to find that one country where magically there’s an insurance for never-changing laws.

Last time I checked a foreigner (Thai) doesn't need to invest £1,000,000 in the uk to buy land to build a house on infact even buying estates of hundreds of acres!!! Then have that land ownership reviewed after 5 years....

[FarangFB]

2 hours ago, possum1931 said:

No one with half a brain would come and live in Thailand the way things are today. There are surely better countries

Name a few please. Thailand has its flaws but everywhere else I look you have at least a few of the following dealbreakers:
 

- Risk of being mugged/stabbed while walking or even when driving

- Extremely high cost of living

- Freezing or scalding (proper hot, 40º++ every day)

- Sharia Law

- Actual xenophobia to the point of being attacked on the street for not being from a certain ethnicity 

- Heatwaves/draught, frequent natural disasters or devastating floods

- Non-existent infrastructure for expats (mostly language barriers)

- Entitled people everywhere, men hating feminists, wild Karens

- Overregulated, get fined for everything

 

Say what you want about Thailand, but it's relatively safe, cheap if you want, stable tolerable climate especially with A/C, freedom to do most things you want and nobody cares, very foreigner friendly despite the property/visa restrictions, no natural disasters apart from potential tsunami in a few beaches, floods rarely get above the knee, plentiful infrastructure facilities for expats, you can live comfortably without speaking Thai, western feminist/SJW mentality hasn't gotten here yet.

[BritScot]

21 minutes ago, twix38 said:

Retirees having a spare 40 million baht! lmao

40 million baht just to own my own home and land it sits on. 

why would I? if anything it makes me feel more determined NEVER to buy but only rent. much safer and no real term commitment to put up with anything - problem neighbours, dogs, construction, karaoke, loudspeakers, bars, noise of any sort, boundary or legal issues etc that can start up at any time and totally blight life.

NAH!

Back in 2002 a very wise expat told me "never ever invest in Thailand any more than you can afford to walk away from and that was my mantra.  Even though I built a 3 bedroom bungalow the equation I used was expected rent over 10 years (I built the house with 7 year rent and we left Thailand after 8 years).

[BritScot]

1 hour ago, Neeranam said:

A Thai has to invest $500,000 to get a multi year retirement visa in the USA. 

Retirees here have it too easy in my opinion, leading to moaning at any difficulty, like spending 1 hour a year and $50 in immigration.

So if I marry a ???????? citizen and move there I have to invest $500k to buy a house and live with my spouse?

[2baht]

3 hours ago, Neeranam said:

Good move to help foreigners, yet they continue to moan. 

We farang don't enjoy the same privileges as you Khon Thai!

[2baht]

3 minutes ago, BritScot said:

So if I marry a ???????? citizen and move there I have to invest $500k to buy a house and live with my spouse?

Would you buy it in the spouses name???

[Stefanix]

Russian Oligarchs: welcome to Thailand! New opportunity to deposit your stolen money!

[fusion58]

4 hours ago, bob smith said:

This government hasnt got a bleedin. Clue!! How can anyone take this seriously? If you are stupid

enough to invest a million dollars here that is subject to a governmental review every 5 years you are an absolute tool! 

Especially if you’re a retiree who has no path to permanent residence. They must think we just fell off the turnip truck. ????

[IAMHERE]

3 hours ago, webfact said:

One of the conditions includes an investment value of at least 40 million baht that must be retained for 3 years. The ministerial regulation opens the door for a greater range of investment options for foreigners and can be revised every 5 years.

 

40,000,000 divided by (5*12)  comes to about 666,666.66 baht per month. Renting does look heavenly. 

That 49% of a condo building was relaxed for a while; then reinstated so those over the limit allotment HAD to sell to a Thai.  Just wait til after 5 years (if)the law is rescinded and you got to sell your Rai to a Thai. That's gonna hurt, even rich retirees.

[fusion58]

8 minutes ago, Stefanix said:

Russian Oligarchs: welcome to Thailand! New opportunity to deposit your stolen money!

And the government will be happy to take it!

[sead]

And here it goes. Screw the middle classes. 

[Gknrd]

2 hours ago, Neeranam said:

A Thai has to invest $500,000 to get a multi year retirement visa in the USA. 

Retirees here have it too easy in my opinion, leading to moaning at any difficulty, like spending 1 hour a year and $50 in immigration.

For US citizens it is not a very attractive place for retirement.  I am here visiting and when I leave I will never come back ( nothing against Thailand and the people what so ever).  Other places are so much better for US citizens IMHO.  With legal land purchases and in some countries resident health benefits.  But, I agree I think that all US citizens should be penalized 1/4 of their SS benefits the first year of retirement here. Then after that 50% and loss of all health benefits in the US. 

Also all Thai nationals retiring back to Thailand from the US should loose 50% and all benefits the first two years and decline 5% a year after that. 

 

Edited October 26, 2022 by Gknrd

[newnative]

    As always, a good plan ruined by being too restrictive and too expensive to attract many takers.  Just totally clueless.   Should have been around 5 million baht.  Instead of a few takers for the 40 million plan, you would get far more going for the 5MB plan, which would result in far more people importing their foreign money into Thailand and spending that money in Thailand, with a much bigger benefit in the long run.  

[Zack61]

Not sure I'd be brave enough to jump headlong into this offer. No sir-eeeeee Bob. All I see is risk, risk, risk, a truckload of red tape and a whole lot of "gotchas"

 

[Photoguy21]

5 minutes ago, Zack61 said:

Not sure I'd be brave enough to jump headlong into this offer. No sir-eeeeee Bob. All I see is risk, risk, risk, a truckload of red tape and a whole lot of "gotchas"

 

And it isnt like you can transfer the money out of the country. For that amount you probably need permission from the BoT

[Deez]

They may attract a few who want to launder money

[BostonRob2]

I think as an investment it does not seem unreasonable. But I think for people to invest they would have to have several million bucks in the bank to make it remotely worthwhile. A million in bonds. A million in urban area land and modern house. A million to play with. 

 

Rooster

[NorthernRyland]

2 hours ago, Jerno said:

formal guaranteed uncertainty.

Well said. They wouldn't have it any other way.

[tomazbodner]

There will be plenty of Chinese and Indians taking this offer. That's who Thailand is targeting anyway.

[Bim Smith]

Unless you can afford to lose 40 million you would be crazy to even consider it. The original elite visa came with land owning rights only to be withdrawn at short notice. Some lost a lot of money knowing they had to sell quickly. 

[spidermike007]

I will lend you a million dollars. But conditions apply. 

 

The goon squad should get real. Let any foreigner on a retirement, or marriage visa, or work permit buy up to two rai of land, and own the house he builds on it. Those should be the only conditions. This is not going to have an effect on land or house prices. The Thais are already doing a good job of pushing up land prices on their own. It is time you guys showed us some decency and respect. Many of us spend alot of money propping up the economy you guys sabotaged. 

Edited October 26, 2022 by spidermike007

[Purdey]

This could be inflationary. I imagine some property companies setting aside land for foreigners and putting this THB 40m price tag on many plots, raising land prices in the vicinity exponentially for all Thais. Thais will be very willing to sell their land to real estate agents and retire of course but expect some to complain bitterly of foreigners coming here and stealing their heritage. 

[wombat]

Put it in your TG's name ...save the hassle and urinate the 40milion up the wall instead?

[Brickbat]

I’m selling the Nawarat Bridge . It’s a steal! Hurry hurry hurry , will go fast !