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

[Blumpie]

No thank you.

If I have a stroke and have significant brain damage I'll review my position.

[2 is 1]

13 hours ago, Neeranam said:

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. 

 

 

There is nothing to do retirement in USA in this topic! Main thing is that hole new great idea is big scam! I have never had any problems about laws that its hard to buy land if you are foreigner! We have problems in Finland when Russians buy much properties and land in Finland! I really much hope there is as hard law in Finland also!

[webfact]

Cabinet approves edict allowing non-Thais to buy land for residential purposes

 

 

The Thai cabinet has approved an edict from the Ministry of Interior, which will pave the way for four groups of non-Thai citizens to be able to buy up to 0.16 hectare (one rai) of land for residential purposes, as part of the government’s measures to attract foreign investment.

 

Those eligible include people with high incomes, pensioners, those who want to work from Thailand and specialists with skills needed in Thailand. They will be able to purchase the land in Bangkok, Pattaya and other municipalities and areas specified by law.

 

They will, however, be required to invest at least 40 million baht (US$1,051,700) in government bonds or real estate funds in Thailand for at least three years.

 

Government Spokesman Anucha Burapachaisri said the edict will be renewed every five years, in line with the prevailing economic and social situation at the time.

 

Source: https://www.thaipbsworld.com/cabinet-approves-edict-allowing-non-thais-to-buy-land-for-residential-purposes/

 

-- © Copyright Thai PBS 2022-10-27

 

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[ftpjtm]

Both the US and Canada (and I'm sure many more 1st world countries) have investor residency programs with price tags below 40M baht. These not only allow land purchase, but also lead to full citizenship.

 

Thailand needs to realize that we come here because it's fun, cheap and warm. In spite of the fact that for those reasons I plan to spend a good part of my years here in retirement, Thailand has a long way to go before I'd consider investing 40M baht in the country. 

 

The bulk of my funds remain securely off shore.

[JimTripper]

???? + ???? = ????

Edited October 26, 2022 by JimTripper

[hotchilli]

19 hours ago, webfact said:

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

Delusional...

[ttrd]

10 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). 

The same in Scandinavia and Western Europe - as a foreigner you can own what you buy. In Eastern Europe there are still countries where you as a foreigner cant own what you buy as those countries has laws from the communist time. The same goes for the property laws in Thailand created by ThaiChinese which have ruled thailand for centuries. If it was up to genuin thais we as foreigners would have had the right to own what we bought, but unfortunately it isn't - not yet ...

[farangnomore]

As a bad of a deal as it may be, they (people in charge) do not expect farangs who "know too much" to bring in more money.  They know there are new suckers to be fooled.  It worked before, why wouldn't it work now?  For every disenchanted farang who leaves the land of broken dreams, there will be 10 new suckers happy to invest 40 MB to buy one rai of mosquito infested swamp to live happily ever after with his bar girl (she was forced into prostitution to pay off her parents' debts anyway).

[ftpjtm]

29 minutes ago, ttrd said:

If it was up to genuine thais we as foreigners would have had the right to own what we bought

I don't agree with that. My "genuine Thai" wife, her (modest income) Thai family, and most of her Thai friends absolutely support laws not selling property to foreigner. They claim it prevents the Chinese from buying up the country. 

[Orinoco]

5 minutes ago, ftpjtm said:

I don't agree with that. My "genuine Thai" wife, her (modest income) Thai family, and most of her Thai friends absolutely support laws not selling property to foreigner. They claim it prevents the Chinese from buying up the country. 

True, but the real reason is most Thai's are racist. 

 

 

 

 

Edited October 26, 2022 by Orinoco

[Isaan sailor]

I just checked my wallet—seems I’m a little short of 40 mill. Guess I’ll have to stay in the house I built for my wife a bit longer…

[redwood1]

Get 20 corporate Chinese individuals to buy 1 Rai each (all together)

Ask $$$$$ for a land variance.....Then build a Casino, on your new land..

 

This new land ownership law has all kinds of creative potential for dirty money......But is of almost no use to the average guy....  

 

  

[ThailandRyan]

4 hours ago, 2 is 1 said:

There is nothing to do retirement in USA in this topic! Main thing is that hole new great idea is big scam! I have never had any problems about laws that its hard to buy land if you are foreigner! We have problems in Finland when Russians buy much properties and land in Finland! I really much hope there is as hard law in Finland also!

The poster you quoted has some kind of agenda be it dual pricing elsewhere etc.  He always talks about what it costs elsewhere in the west to retire, golf, holiday etc. as he feels that anyone discussing Thailand's proposals as idiotic is a bash, so he bashes everywhere else (like the west) to try and even out the playing field.

[DUNROAMIN]

Isaan country 1 x Rai in Moobarn up to 1 mil, 40 mil to buy 1 mil land, I think not.

[Boomer6969]

2 minutes ago, DUNROAMIN said:

Isaan country 1 x Rai in Moobarn up to 1 mil, 40 mil to buy 1 mil land, I think not.

This law doesn't target us, geezers settling in isaan, it will find its customers amongst truly affluent foreigners  who dream of a big pool  villa, on prime land in places such as Pukhet, Hua Hin, etc..

No need for us to get our nickers in knot. Even though I got a nice LTR 10 years visa a couple of days ago. Real bargain for for 50000 Bahts.

[Chongalulu]

21 hours ago, Neeranam said:

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

I’m also offering to sell you a bridge over the river Thames,but I expect all you’ll do is moan… ????‍♂️ 

[ThailandRyan]

7 minutes ago, Boomer6969 said:

This law doesn't target us, geezers settling in isaan, it will find its customers amongst truly affluent foreigners  who dream of a big pool  villa, on prime land in places such as Pukhet, Hua Hin, etc..

No need for us to get our nickers in knot. Even though I got a nice LTR 10 years visa a couple of days ago. Real bargain for for 50000 Bahts.

It makes life easier for us in the long run having the new LTR Visa we have, no need to worry about 90 days, freedom to travel in and out and tax exempt status for our money which we earned elsewhere.  Truly affluent folks are investing money elsewhere in order to obtain the citizenship that is granted along with the investment, something Thailand will never give to any of us no matter how long we live here as there are to many rules associated with gaining PR and so on.

[cocoonclub]

6 hours ago, alex8912 said:

Like anyone except you would think that is the only example lol.

You trying to speak for everyone else doesn’t change the fact that you’re wrong — laws can and do change everywhere. 
 

6 hours ago, alex8912 said:

You seem to have to defend yourself for being a Thai apologist in this entire thread 

All I can see is that you’re so butt hurt about being wrong that you’re desperately trying to speak for others to make up for your own lack of arguments, and calling names that you can’t even explain. But again, it doesn’t change the fact that laws can and do change in every country. 

[Photoguy21]

40 million baht payment is not a privilege unless you are taking a controlled substance. It will open up land take over by the Chinese. Maybe that should be thought about long and hard.

Edited October 27, 2022 by Photoguy21

[Gknrd]

I treat most of the posts like this as a joke and they are for the US citizens for sure.  But, with the political climate at hand. If from the west you would have to be pretty brave to want to locate here unless you had family ties. Even then if a Taiwan war breaks out I would be saving for that.  

 

 

[Kwaibill]

23 hours ago, Orinoco said:

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

 

 

 

 

 

 

One rai would suit me fine for a residence, but they put too many restrictions, i.e. confining it to urban locations.

Also what do they consider approriate investments? A thirty-six month CD at a Thai bank? 40 mill in the Thai stock exchange?

Edited October 27, 2022 by Kwaibill
Typo

[Orinoco]

2 minutes ago, Kwaibill said:

One rai would suit me fine for a residence, but they put too ,any restrictions, i.e. confining it to urban locations.

Also what do they consider approriate investments? A thirty-six month CD at a Thai bank? 40 mill in the Thai stock exchange?

I think 1 rai is just to small for any real serious investment. Needs to be 3+ rai

[Boyn]

8 hours ago, thaibeachlovers said:

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.

Try and ignore my sarcasm Thaibeachlovers its all i have.

[Kwaibill]

2 minutes ago, Orinoco said:

I think 1 rai is just to small for any real serious investment. Needs to be 3+ rai

The one rai is for your residence only, not the proposed investment, as I read it.

Like to know if a lease agreement would be applicable, or purchase agreement for a block of flats, etc.

[hotchilli]

7 hours ago, webfact said:

They will, however, be required to invest at least 40 million baht (US$1,051,700) in government bonds or real estate funds in Thailand for at least three years.

For one rai of land that will be reviewed after 5 years???

[Boyn]

3 hours ago, nchuckle said:

I’m also offering to sell you a bridge over the river Thames,but I expect all you’ll do is moan… ????‍♂️ 

I am seriously looking for a bridge, does it open?

[johnmcc6]

Another stupid nothing burger.

[Neeranam]

7 hours ago, 2 is 1 said:

There is nothing to do retirement in USA in this topic! Main thing is that hole new great idea is big scam! I have never had any problems about laws that its hard to buy land if you are foreigner! We have problems in Finland when Russians buy much properties and land in Finland! I really much hope there is as hard law in Finland also!

I was just putting things into perspective as there are many foreigners here who get into a downward spiral negativity, bashing anything they see here, even if it is positive. Regardless of what some say, it is almost impossible for a Thai retiree to move to the US.

The Thai government is trying to make it easier for quality foreigners. The others, many of whom are lucky to be allowed to live their dream here, wouldn't be allowed to retire in other countries. Their continual moaning has driven young people away from this forum. Believe it or not, under 40s used to be the majority here. 

 

Personally, I don't understand why anyone would want to live in Finland; I worked there and wouldn't ever go back, mainly due to the climate and what it does to the people in winter. 

 

The Thai government have obviously got to stop certain people from richer countries from buying land. This law was first introduced to stop Japanese buying land in Bangkok. It is not as simple as what some think when allowing those married to Thais to buy land or get citizenship as there is a ridiculously high number of old, male Westerners who come here and conveniently marry young women from the bottom rung of the social ladder, many of whom worked in the sex industry as cashiers. The govt. is very tolerant to these types, despite them being a burden on the health system.  

 

Accept Thailand as it is, a tolerant developing country, which when all things are considered, is better than where you came from. 

 

[Orinoco]

21 minutes ago, Neeranam said:

The Thai government is trying to make it easier for quality foreigners. The others, many of whom are lucky to be allowed to live their dream here, wouldn't be allowed to retire in other countries. Their continual moaning has driven young people away from this forum. Believe it or not, under 40s used to be the majority here. 

Oh yet again. 

Edited October 27, 2022 by Orinoco

[BritScot]

21 hours ago, 2baht said:

Would you buy it in the spouses name???

Obviously I would buy it in joint names or my name.