Foreign land ownership proposal can be canceled if Thai people don’t agree says the Minister of the Interior

[TKDfella]

2 hours ago, ikke1959 said:

The only question is, who are the Thai people?? Probably it are the 1% elite and the Government, as most Thais are too uneducated to understand what the Government is doing, because if they opened their eyes see what is going on in THailand , there would be a lot of problems for the Government and these 1 %.

Yes I wondered about that too. Also, how do they intend to 'ask the Thai people'...a referendum? I doubt it.

[Joker Man]

Like seriously, is this coming from a third year old kid...

[jesimps]

1 hour ago, indyo said:

"which I can live on and off of, until I die" he speaks about a life time 100% usufruct that actually is the best solution in my opinion.

Ok if you live in a province where the land office will issue a usufruct. I couldn't get one in Pattaya eight years back, even through a lawyer.

[actonion]

Since when has the Thai  government listened to the Thai people.... more BS 

[KhunLA]

What Thai wouldn't welcome some idiot willing to invest 40 mill in Thailand.

 

Talk about ripe for the picking ... ????

[JonnyF]

3 hours ago, RichardColeman said:

Shows the quality and intelligence of Thai politicians - who on earth would invest millions and  buy land for just 3 years ? Completely brain dead

He's not proposing you only get the land for 3 years. He's saying they will increase the period that you have to invest the money from 3 years, up to 10 years i.e. you have to invest the money longer than originally proposed.

 

if you were to put brackets around "to be allowed to purchase land" in the sentence below it would be clearer.

 

 

But it's still a terrible offer, and the fact they say the policy will be reviewed after x amount of years is the icing on the cake. Who would really invest 100 Million Baht for 10 years for 1 rai? You'd have to be mad. I'm afraid they really do believe that Thailand is the most desirable place on earth.

 

Much better to buy property overseas where you can really own it, rent it out and use the rent from that property to rent something here.

[KhaoYai]

1 hour ago, VinnieK said:

No you don't 

Your partner does.

..and btw...when was it purchased?

100 years ago?

Prices are insane these days, at least here in the south 

1 Rai (rubber), in the boonies, will be minimum half a mil.

Next to  a provincial road, still in the boonies, as much as 2 or even 3.????????????

 

You seem to know a lot about the poster - even though he hasn't given you any information - don't jump to conclusions.

 

I also have some land - the land my house is built on and I can also live there until I die - enjoying much the same rights and privileges as a registered owner would.  Its called a Usufruct agreement if you didn't know and as long as its written correctly (mine was written by a Thai lawyer) and duly registered at the Land Office, its fully legal.

[crazykopite]

They must think that millionaires are fools with there money I would be amazed if anyone took up this absolutely crazy idea it just proves how desperate Thailand must be to try and claw money into the country by any means 

[BestB]

This kind of flip flopping sure gives confidence to anyone who was considering it.

 

very similar to investment visa which went from 3 million to 8 million.

 

why all the fuss? Foreigner have been owning land and house's for decades through company ownership, everyone knows and no one died 

[shackleton]

The only ones Looking to make money  selling land to foreigners 

Are the corrupt government scammers or agents 

How many times have we read about people buying property on land owned by others or government owned  land ????

 

[Pib]

I expect the govt will withdraw/suspend the proposal because of some very vocal xenophobic media comments by a few and the govt should realize that by them even talking about increasing the already proposed amount and period of time in the current proposal will scare off almost all potential investors.  I really expect the govt to fold their cards by the end of this year to keep it from blowing up into a major election issue.   

 

Let's face it folks being able to own a small piece of land here in Thailand big enough to have your house on is probably not something that's going to happen for many years to come.  

[realfunster]

3 hours ago, RichardColeman said:

Shows the quality and intelligence of Thai politicians - who on earth would invest millions and  buy land for just 3 years ? Completely brain dead

Richard, I think you have misunderstood the proposed scheme. Probably also those who liked your post...

 

A distinctly separate investment of THB 40m for 3 years in Thai government funds gives you the right to buy 1 rai of land. 

After the stipulated investment holding period of 3 years, this THB 40m in Thai government funds is returned and the land remains yours.

 

The news today is that they are discussing whether to increase the investment holding period to 10 years or increase the investment amount to THB 100m to be able to obtain the right to buy 1 rai. 

 

The entire range of options and this scheme seem quite silly to me but better that we are at least understanding it correctly when offering our comments. 

 

[newnative]

     So, proposal...political opposition scorn...bad publicity...proposal adjusted...more political opposition scorn... more bad publicity...proposal walked back with more possible adjustments.  Next stop...cancellation.   Don't you just love it, though.  Likely very few takers at 40 million baht but let's make it even more onerous by possibly changing the proposal and more than doubling it to 100MB.  Clueless that the amount invested requirement isn't the issue.  The political opposition is making hay on the idea of selling Thailand to foreigners, not the price.

[John Drake]

If they cancel this, what happens to the eight people mentioned in the other topic who have already taken them up on the offer?

[renaissanc]

I doubt if the "Thai people" care the slightest, but the Elites who own most of the land will be upset by the plan. Who in their right mind would invest 100 million Baht with the rest of those terms just to get a tiny piece of land, which could be taken away from you one day? Not even money launderers would be interested. These folks must think that foreigners have no choices or that foreigners are rich & stupid.

[Smokey and the Bandit]

2 hours ago, mjakob007 said:

it appears he missed reading the third option;

 

- Allow farangs to sell land at a only half the price, they bought it at...

 

 

You really shouldn't give them ideas? ????

[bob smith]

5 hours ago, webfact said:

If people still do not agree, the law can be cancelled entirely.

and this, ladies and gents is why you should never invest a single cent in this country! imagine investing a million dollars into a plot of land, only for it to be repossessed a year later because 'thai people don't agree' ???? 

 

it's beyond laughable. keep your money in your pocket if you have a braincell that is still functioning. 

[ThailandRyan]

17 minutes ago, Pib said:

I expect the govt will withdraw/suspend the proposal because of some very vocal xenophobic media comments by a few and the govt should realize that by them even talking about increasing the already proposed amount and period of time in the current proposal will scare off almost all potential investors.  I really expect the govt to fold their cards by the end of this year to keep it from blowing up into a major election issue.   

 

Let's face it folks being able to own a small piece of land here in Thailand big enough to have your house on is probably not something that's going to happen for many years to come.  

The issue is that this proposal only affects those in the LTR Class.  There has been a law on the books since the Thaksin era allowing foreign purchase of land, but it has more caveats to it and why only 8 have bought since it came into affect I believe in 2008.

[Raphael Hythlodaeus]

54 minutes ago, jesimps said:

Ok if you live in a province where the land office will issue a usufruct. I couldn't get one in Pattaya eight years back, even through a lawyer.

Did you mean REGISTER a Usufruct. Years ago I found that Usufruct Agreements were indeed written into Thai Law, so I don't see how, with a good lawyer, they could refuse to register it in Pattaya. Something else in play here.

Anyone else with experience with Usufructs?

[kcpattaya]

Quote: ????

[thaibeachlovers]

1 hour ago, wpcoe said:

If it is deemed inappropriate or wrong for foreigners to own land (or more than 49% of a condo building), then the Thai government should also pass laws prohibiting Thais to own land/property in other countries, no?  Either it's okay to own land in another country, or it's not.

 

</sarcasm off>

LOL. Just because western governments are IMO stupid enough to allow foreign "investors" buy land it doesn't follow that the Thai government should stop Thais taking advantage of IMO western stupidity.

[thaibeachlovers]

10 minutes ago, bob smith said:

and this, ladies and gents is why you should never invest a single cent in this country! imagine investing a million dollars into a plot of land, only for it to be repossessed a year later because 'thai people don't agree' ???? 

 

it's beyond laughable. keep your money in your pocket if you have a braincell that is still functioning. 

Agreed and I have always said that farangs should never ever buy ( by giving their wives money to do so- I know they can't buy it themselves ) land or houses in LOS. The tales of woe from those that have show that they are themselves to blame for doing so.

I'm happy to say that despite many hints from my wife to build her a house I resisted till we got divorced. When I walked away I had given her far too much already, but at least I hadn't given her that.

[bob smith]

2 minutes ago, thaibeachlovers said:

I had given her far too much already,

I give them nothing. no water buffalo, no house in the sticks, no flash car or the latest iphone. they get sweet FA from me. im a tight a*se but that is how you survive the video game that is Thailand. 

[klauskunkel]

6 hours ago, webfact said:

the law can be cancelled entirely

It's not the law's fault, cancel the law makers.

[ttrd]

4 hours ago, RichardColeman said:

Shows the quality and intelligence of Thai politicians - who on earth would invest millions and  buy land for just 3 years ? Completely brain dead

RE completely brain dead

 

* Nope - sorry, but I cannot agree on that one as to be brain dead meaning you actually have a brain - and that is a compliment .... 

[sambum]

"If people still do not agree, the law can be cancelled entirely."

 

And which people will be "polled" to see if they agree or not?

 

They  could always add it to the ballot paper of the next election, which will be "open and fair" ???? so everybody will get a chance to vote on this contentious issue! 

[Sydebolle]

Thanks to Anutin it is noteworthy, that the quality smoked by the boys in the parliament seems to get better and better. 
Wondering now, what excellent ideas spring from their minds next week ............. 

[peter zwart]

For sure the ladies of pleasure will strongly oppose. 

[ttrd]

RE - The Minister of the Interior says a proposal for foreigner land sales is ready to be cancelled

 

*  Hmmm - That was a new variant as until today it has never been any issue for a foreigner to buy a piece of land in LOS, but to own it ... ????

[Sqoop]

4 hours ago, RichardColeman said:

Shows the quality and intelligence of Thai politicians - who on earth would invest millions and  buy land for just 3 years ? Completely brain dead

And build a house on that land, to then have the law potentially scrapped or investment rules changed.