Excuse me but was it not a investment of 20 mill baht, seriously how many people are there out there that have 20 mill to spare, seriously.

On 11/4/2022 at 8:21 AM, thailand49 said:

 Can be cancel if Thai don't agree! ????

If that was really true non of these jacka----would be in office. 

 

Quite a few, but they would most likely prefer to put these 40 mio THB into the house.

 

And those who have much more to spare where money doesn't matter, they for sure have better things to do as crossing off checklists from some nonsense thai requirements. It's literally easier to go through Investment visas or golden visas in major countries like the US or Spain then dealing with this <deleted>, that doesn't give you any long term reward like citiztenship, unlike every other country with investment visas...

in Oz no-one actually owns land its all leased from the govt for 99 years.

is there any reason this wouldn't work for the 1 rai blocks?
the Oz govt can resume your land if it decides its needed of course.

3 hours ago, wombat said:

in Oz no-one actually owns land its all leased from the govt for 99 years.

is there any reason this wouldn't work for the 1 rai blocks?
the Oz govt can resume your land if it decides its needed of course.

yes sure it could, indonesia has 99 year leases: https://balipropertydirect.com/ownership-titles-freehold-and-leasehold/

 

If they get sold back to a indonesian citizen they convert back into freehold titles, that would be a chanote or whatever in our case.

 

 

There's no competence here, no will to do something remotely attractive. 

So let me get this straight ;

The ' government ' that staged a coup because they disapproved of the peoples choice , railroaded through a constitution that effectively robbed the people of their choice of leadership, is now going to take advice from the same people. Ok !

This is a very bad idea. If wealthy foreigners are allowed to buy land, the cost of land will rise and take it out of the reach of lower paid Thais.

2 hours ago, RobU said:

This is a very bad idea. If wealthy foreigners are allowed to buy land, the cost of land will rise and take it out of the reach of lower paid Thais.

Wealthy foreigners have been allowed to buy land since 1954, when the Land Code Act B.E. 2497 was promulgated. Plese see sections 86— 96 ter of this translation of the law:

 

Land Code Act B.E. 2497 (1954) en -krisdika.pdf

8 hours ago, Puccini said:

Wealthy foreigners have been allowed to buy land since 1954, when the Land Code Act B.E. 2497 was promulgated. Plese see sections 86— 96 ter of this translation of the law:

 

Land Code Act B.E. 2497 (1954) en -krisdika.pdf 1.48 MB · 0 downloads

Many Thanks for this information, Puccini.

It begs the question

"What is the purpose of this new act?"

Is it opening the door to less wealthy foreigners or is it a codice to this existing act making it harder to own land.

If less wealthy foreigners are allowed to buy land for holiday homes then the cost of housing will soar.

We have seen this in England where small fishermen's cottages on the coast of Cornwall sell for £2,000,000 (86,000,000 baht) or more and locals cannot afford to buy homes

And on a personal basis if my wife dies before me (May the Gods forbid it) am I entitled to own our home in Thailand?

i.e.

Section 93. For an alien who acquires land by inheritance as a legal heir, the Minister may permit acquisition of such land which, when combined with the land already owned, does not exceed the limit under Section 87.

 

11 hours ago, RobU said:

This is a very bad idea. If wealthy foreigners are allowed to buy land, the cost of land will rise and take it out of the reach of lower paid Thais.

Presuming it was ever within their reach. 

It has taken time, but now in the UK, it looks impossible for the younger generation to ever own their own home. 

9 hours ago, RobU said:

It begs the question

"What is the purpose of this new act?"

Is it opening the door to less wealthy foreigners or is it a codice to this existing act making it harder to own land.

Even government spokespersons have quoted in news articles to have allegedly referred to a new law, but what has reportedly been approved by the Council of State (cabinet) is in fact a new Ministerial Regulation, replacing the previous regulation. This regulation, and an number of other regulations, need be issued as required by the law, for example by section 96 bis  as regards land acquisition by foreigners:
 

Quote

 

Section 96 bis.⁶⁵ The provisions regarding acquisition by an alien of land by virtue of a treaty under paragraph one of Section 86 shall not apply to an alien who has brought funds to invest in the amount prescribed in the ministerial regulations, which must be at least Baht forty million, whereby the land so acquired for use as residence shall not be more than one rai, and permission therefor must be obtained from the Minister.

⁶⁵ Section 96 bis added by the Land Code Amendment Act (No.8) B.E. 2542 (1999).

 

 

My personal impression is that this new regulation and its previous versions are designed to discourage land acquisition by foreigners. It is what I like to call "the Thai way of not saying no". If a foreigner meets all the conditions laid out in the Ministerial Regulation the Minister of the Interior still has the legal authority to disapprove the application, making this an explicit "No"

 

24 years have passed since the addition of section 96 bis to the Land Code Act and it would be interesting to know how many applications for land purchase by foreigners have been made since then and how many have been approved by the Minister.

TIT

 

https://www.nationthailand.com/thailand/policies/40021811

The draft directive allowing wealthy foreigners to buy land has been withdrawn to hear public opinion, Government House said on Monday.

Interior Minister Anupong Paochinda signed an order to revoke the Cabinet's approval for the scheme.

2 hours ago, Puccini said:

Even government spokespersons have quoted in news articles to have allegedly referred to a new law, but what has reportedly been approved by the Council of State (cabinet) is in fact a new Ministerial Regulation, replacing the previous regulation. This regulation, and an number of other regulations, need be issued as required by the law, for example by section 96 bis  as regards land acquisition by foreigners:
 

 

My personal impression is that this new regulation and its previous versions are designed to discourage land acquisition by foreigners. It is what I like to call "the Thai way of not saying no". If a foreigner meets all the conditions laid out in the Ministerial Regulation the Minister of the Interior still has the legal authority to disapprove the application, making this an explicit "No"

 

24 years have passed since the addition of section 96 bis to the Land Code Act and it would be interesting to know how many applications for land purchase by foreigners have been made since then and how many have been approved by the Minister.

Thanks Puccini. If it is, as you say, a Thai way of saying no, without actually saying no, then I am all for it????

7 hours ago, Puccini said:

...24 years have passed since the addition of section 96 bis to the Land Code Act and it would be interesting to know how many applications for land purchase by foreigners have been made since then and how many have been approved by the Minister.

Now I know at least this much: "only eight foreigners had bought land"

 

From this news article: https://www.thaipbsworld.com/dpm-supattanapong-defends-governments-foreign-land-ownership-policy/

Quote

 

...Move Forward Party Leader Pita Limjaroenrat...said he would like to know the government’s real motive behind the foreign land ownership plan which, he pointed out, is not new, but was introduced in 2003, during the then government of Prime Minister Thaksin Shinawatra.

 

He said that to date only eight foreigners had bought land for residential purposes...

 

 

On 11/4/2022 at 6:31 AM, gerrytraveller said:

Please tell me where I can buy 5 rai for 300k that is Chanote or Nor sor sam. If you do not have that then your "lease contract" is totally null and voidable..

Old lady in Chumpae she runs the ice factory on the south side of the highway  age did want us to take another 10. Rai for another 600,000