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

[ThailandRyan]

8 hours ago, Orinoco said:

1 Rai, you can shove it,  right up the you know what Thailand.  

 

 

 

 

 

 

1 Rai for 40 million, sounds like a bargain, oh wait, I bought 5 rai and built a house on it for a total of 4.5 Mthb 10 years ago. Of course the land is in my Thai daughters name and the house has a lifetime usufruct on it, but hey anyone who wants to buy it I will sell it to you for the 40 Mthb, a nice profit to be made........for my daughter that is....any takers.

[MaiChai]

Probably easier to marry a Thai and then buy land; if it goes badly at least you can get half of it back. Foreigners can own land this way but are expected to dispose of it in a timely manner!

[proton]

will agents be able to bypass the 40 mill by paying a bribe if you don't have the funds? ????

[thailand49]

???? That's my answer! 

[Orinoco]

22 minutes ago, MaiChai said:

Probably easier to marry a Thai and then buy land; if it goes badly at least you can get half of it back. Foreigners can own land this way but are expected to dispose of it in a timely manner!

Smooth as silk I'm sure,

what could ever go wrong, with money and ex wives  in Thailand  

 

 

 

 

Edited October 26, 2022 by Orinoco

[mjakob007]

oh wait...

 

i read, Indonesia is planning to attract billionaires

unless they meant Rupiah billionaires

[djayz]

Do they take us for muppets or what? 

[Gknrd]

Haha, You cannot make up this <deleted>.  it's like a weekly event. Not sure which is crazier the OP or the hilarious come backs...   

Either way it gets wilder every time .... ????

[1sickpuppy]

9 hours ago, Mutt Daeng said:

The scheme could create some employment opportunities for locals. I would have thought that loads of new staff will have to be hired to deal with the masses of prospective foreign buyers, who, no doubt will be "bursting down the doors" of their local land offices, to take advantage of this fabulous offer and secure their ONE RAI of land.

Stupidity at its Height, TIT

[metisdead]

An offensive troll post has been removed.

[cocoonclub]

8 hours ago, Jerno said:

The simple statement of a review of the law every 5 years introduces formal guaranteed uncertainty.  Investors don't like uncertainty, especially announced planned kind.

1) What does this have to do with investors? The law is about land ownership for residential purpose. 
 

2) What “uncertainty” exactly do investors not like that wasn’t there already but is being “introduced” here? Investors know that laws can always change. 

[cocoonclub]

7 hours ago, ikke1959 said:

Ever extended a visa?? It is always different papers needed more or others... same in the US Eu or whatever country??? I don't think so... Laws change here sometimes within hours... example seatbelts in the back....

Shall we stay on topic? 

[cocoonclub]

6 hours ago, BritScot said:

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!!!

That wasn’t the point of criticism. The point of criticism was that laws can change, which they can and do in every country. 
 

6 hours ago, BritScot said:

Then have that land ownership reviewed after 5 years....

Where does it say that land ownership is being reviewed after 5 years? The law is being reviewed, that doesn’t mean that your ownership of already acquired land is also being reviewed. 

[cocoonclub]

2 hours ago, alex8912 said:

We are not talking about you can take a right ( or left ) on a red light at an intersection and now this year you can't do that.. So STOP being a Thai apologist when you are completely wrong!! 

I don’t know what a “Thai apologist” is and I’m not wrong: Laws are being reviewed and can change in every country.
 

The one “completely wrong” is you if you really thought that thats is only the case for “a red light at an intersection”. 

[RichardColeman]

I'd still never buy land in a place that you can never have permanent residence. OK, easily. Bit like having money in your bank, that declares you person non-grata and bans you from branches and online access

[BTB1977]

Hay looks at us . We are letting frang own land.  But only the stupid ones that would invest 40 million for one rai of land. No ones that stupid. 

[johncat1]

Invest 40 million baht to get a postage stamp plot of land. WITH strings attached !!  Nobody in their right mind would invest 40 million Baht in such an unstable country where laws can change at the whim of the dictator. Anybody fool enough to do this can kiss their money goodbye, If the government don't steal it the banks will. Plus they will always be known as the ATM Farang, and never be treated equally alongside a Thai.   

[SiSePuede419]

Downtown! ???? Every beer bar, poolhall, wine bar, coffee shop and Pizza parlor will be Downtown. ????

[Sydebolle]

Wait with the continuation, I need to get my popcorn ready. 

You simply cannot make this stuff up, a digital nomad with 40 million Baht loose change ????

[BumGun]

12 hours ago, Geoffggi said:

Daylight come and me wanna go home .......LOL - Do the government really think we just got off a banana boat ????????????

 

11 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! 

I suspect that review would prohibit new buyers but not "take your land off you".  Of course that raises the specter of whom to sell to if you wish to move on after say 10 years ???? locals only I guess ?

[Felt 35]

This way the elite get what they want but want tell the population they want, or in other words
investment by large foreign investors who can invest in a variety of 1 rai plots exploit the land and back out before a 5 year revision of the law. ????

Felt

Edited October 26, 2022 by Felt 35

[ikke1959]

1 hour ago, cocoonclub said:

Shall we stay on topic? 

just to say that review a law in 5 years is not normal.....in a western country.... Here in Thailand lwas are made by the one who you speak with...and what today is can be changed tomorrow as there are many examples ... It surely is still the topic we talk about. invest 40 million THB and yu don't know after 5 years if the law is still the same and the examples I gave shows only how quickly laws change in Thailand

[pacovl46]

12 hours ago, bdenner said:

"For this privilege the foreigner must invest 40 million baht in a single project and must commit to three years."

No one with half a brain would do this: "Put all your eggs in one basket"!!!

There's save ways to do that, though, government bonds for example.

[cocoonclub]

10 minutes ago, ikke1959 said:

just to say that review a law in 5 years is not normal.....in a western country.... Here in Thailand lwas are made by the one who you speak with...and what today is can be changed tomorrow as there are many examples ... It surely is still the topic we talk about. invest 40 million THB and yu don't know after 5 years if the law is still the same and the examples I gave shows only how quickly laws change in Thailand

You also don’t know what the laws

in the US or EU will be in 5 years. 

[ttrd]

13 hours ago, bdenner said:

"For this privilege the foreigner must invest 40 million baht in a single project and must commit to three years."

No one with half a brain would do this: "Put all your eggs in one basket"!!!

Against stupidity even the gods fight in vain so this joke will never stop repeating itself ...

[Arkady]

7 hours ago, alex8912 said:

A Thai can buy many acres of land in the USA easily and they can get a 10 year multi entry tourist visa and then easily renew it another 10 years. Why in the world are you being such an over the top apologist? I'd love to hear from some normal retirees here. Rich Thais can buy so many different investment properties in the USA and not just one that sits on less than a 1/2 acre of land. You also seem to forget a Thai can easily marry an American and get a green card then citizenship too. There seems to be maybe 4 posters on here that have Thai citizenship ( maybe). 

Like many US embassies these days, since Trump gutted the Foreign Service, there is now a massive waiting list to get an appointment for a tourist visa at the US embassy in Bangkok and the consulate in Chiang Mai.  A Thai might have to wait more than a year. I believe India is even worse. At least Americans can just hop on a plane and enter Thailand without a visa.

[alex8912]

5 hours ago, cocoonclub said:

I don’t know what a “Thai apologist” is and I’m not wrong: Laws are being reviewed and can change in every country.
 

The one “completely wrong” is you if you really thought that thats is only the case for “a red light at an intersection”. 

Like anyone except you would think that is the only example lol. You seem to have to defend yourself for being a Thai apologist in this entire thread 

[alex8912]

28 minutes ago, Arkady said:

Like many US embassies these days, since Trump gutted the Foreign Service, there is now a massive waiting list to get an appointment for a tourist visa at the US embassy in Bangkok and the consulate in Chiang Mai.  A Thai might have to wait more than a year. I believe India is even worse. At least Americans can just hop on a plane and enter Thailand without a visa.

Most Thais who travel to USA already have and use their 10 year multiple entry visa.  Most Thais with GOOD paperwork usually get this visa the second time they go for one and many get it the first time. The 10 year visa is also easy to renew. Your example is poor and Trump has nothing to do with it but he's up n your mind. 

[thaibeachlovers]

15 hours ago, Boyn said:

40 million baht for 1 rai of land that sounds like a bargain to me, it is isnt it ? someone tell me if im being stupid.  And to be reviewed in 5 years that makes it even better .......doesnt it?

The land doesn't cost 40 million, and you can get the money back after 3 years, but you knew that, didn't you?

However, under rule #1 never buy property in LOS, I won't be rushing out to buy anything, even if I could.

[d4dang]

or other designated downtown areas. Where are these designated downtown areas? How many downtown areas are there where you can buy one rai for 40 million Baht or less in Thailand?