Real estate sector to propose alternative to foreigners buying land in Thailand

[Gknrd]

Just now, ThailandRyan said:

Why wouldn't a 50 year old retiree start a family?

You can start a family at any age. But, most people are not retired at 50?  And even at 50 IMHO it is to old..

[Gknrd]

2 minutes ago, ThailandRyan said:

Aha, a crypto millionaire.....

Nope mostly Fortune 500 stocks.. If crypto is your thing then you wont be around long.   You have been here too long. You sound like the typical Thai now.. How much money do you have.  haha

Edited November 7, 2022 by Gknrd

[ThailandRyan]

1 minute ago, Gknrd said:

You can start a family at any age. But, most people are not retired at 50?  And even at 50 IMHO it is to old..

You sure have a lot of honest or is it humble opinions? Care to share some studies and links to prove your posting. BTW I did retire at 50, full pension, and just obtained an LTRWP Visa, so I must be not as smart as you.

[Metapod]

I'm very happy with my condo purchases here. Haven't dipped into housing as I don't like the grey area of ownership but I have quite a few friends that have done well.

 

The people that say only to rent typically know <deleted> all about property or Thailand.

[Gknrd]

1 minute ago, ThailandRyan said:

You sure have a lot of honest or is it humble opinions? Care to share some studies and links to prove your posting. BTW I did retire at 50, full pension, and just obtained an LTRWP Visa, so I must be not as smart as you.

So,,, haha... You beat me by 5 years only... 

[ThailandRyan]

3 minutes ago, Gknrd said:

Nope mostly Fortune 500 stocks.. If crypto is your thing then you wont be around long.   You have been here too long. You sound like the typical Thai now.. How much money do you have.  haha

More than I will ever spend and can ensure my trust is left very healthy. 

[Gknrd]

Just now, ThailandRyan said:

More than I will ever spend and can ensure my trust is left very healthy. 

Well then you are doing much better than most here for sure. Best of luck to ya.

[Gknrd]

5 minutes ago, ThailandRyan said:

You sure have a lot of honest or is it humble opinions? Care to share some studies and links to prove your posting. BTW I did retire at 50, full pension, and just obtained an LTRWP Visa, so I must be not as smart as you.

You don't have to be very smart to know when the deck is stacked against you. Just because you and others are spouting how great it is doesn't mean others have not been fleeced..  I have looked into all the options over the years. Not worth it IMO.  A condo might be in my horizon one day. But, not until I get to old to travel and enjoy myself.

[jacko45k]

12 minutes ago, Metapod said:

The people that say only to rent typically know <deleted> all about property or Thailand.

Or can't be arsed with all the messing about! I certainly don't see the sense of an 80 yo buying, unless for a partner.

[Neeranam]

43 minutes ago, Gknrd said:

Personally I set up a trust for my GF here. With payments to her until she dies. Then the stocks will be sold and given to my heirs.

Strange thing to do, it's like you are renting her. 

[Neeranam]

22 minutes ago, Gknrd said:

If crypto is your thing then you wont be around long.

Blockchain tech. is  a new one that will take over the world, just like the internet did 20 years+ ago. You don't know what you are talking about. 

[BritScot]

This nonsense would be ended tomorrow if every other country decided to reciprocate thai Thai Land and business laws as the elite would make sure of that. Imagine certain people getting notices to sell their property in places like Germany, UK and USA with a second notice to give 51% of their business holdings to a national.

[JimmyJ]

"Real estate sector to propose alternative to foreigners buying land in Thailand"

I've come up with an alternative I'm very happy with to foreigners buying land in Thailand -

Foreigners not buying land in Thailand.

 

Edited November 7, 2022 by JimmyJ

[Neeranam]

13 minutes ago, BritScot said:

This nonsense would be ended tomorrow if every other country decided to reciprocate thai Thai Land and business laws as the elite would make sure of that. Imagine certain people getting notices to sell their property in places like Germany, UK and USA with a second notice to give 51% of their business holdings to a national.

And then Thailand would and should reciprocate by making it as difficult for foreigners to move here on long-term visas. 

 

[ukrules]

1 hour ago, Neeranam said:

And then Thailand would and should reciprocate by making it as difficult for foreigners to move here on long-term visas. 

 

I doubt that because visas are a completely separate issue and it really is tit for tat when it comes to things like this, so if they made it much harder for visas to be issued there would be reciprocation.

 

This land thing is law now so if they change it foreign offices around the world will take note.

 

Had they done nothing at all then nothing would happen. Action = reaction, that kind of thing.

 

Suddenly the wealthy landed Thais would find it very hard to get any kind of visa - that would be directly putting pressure on people in Thailand who know who to complain to.

[BritScot]

1 hour ago, Neeranam said:

And then Thailand would and should reciprocate by making it as difficult for foreigners to move here on long-term visas. 

 

They already do!

[Gknrd]

One other thing is that if China the second largest economy in the world blockades Taiwan, or invades?  Inflation in Thailand will be out of control. Not only here but everywhere. It will just hit Thailand and this part of the world the hardest IMO.  The baht won't be worth much. But, even worse is you won't be able to buy what you need to take care of your family.  

It's just a bad idea all the way around to come here and invest.  People with enough money will be able to go back to their home countries and ride it out. But, even then it will probably bankrupt them in the process. 

 

[Laphroaig27]

Chinese seem to have it sorted.

 

 

I'll show myself out ????????

[Laphroaig27]

3 hours ago, Neeranam said:

Strange thing to do, it's like you are renting her. 

This is a typical way trusts can be set up and operate. ????

 

You must run with some big wolves ????

Edited November 7, 2022 by Laphroaig27

[Adumbration]

4 hours ago, Gknrd said:

I would but if you are a golden retriever then it would be lost on you.  270K baht.. Did you buy it 25 years ago... haha.. Post some pics.

Only an idiot would buy property here in another persons name.  I would bet to venture 5 out of 10 end in a disaster. And I would venture to say it would be more like 8 out of 10.

You have absolutely no idea what you are talking about.  You are now on my ignore list.  You much do you pay to you mum to stay in her basement.

[CartagenaWarlock]

4 hours ago, Gknrd said:

have never lost one penny? Actually my net value has doubled since I started traveling here ..

Great by investing in real estate? Way to go champ. 

[Hanaguma]

How about just a simple rule- foreigners can buy property/land, except the Chinese. They can't. 

 

Problem solved.

[worgeordie]

They just can't let go , I don't think they realise we can't take it with us ,

it will always will be part of Thailand , it's the small minority that have

the biggest land holdings here, and they most likely own property in

your country , they only begrudgingly allowed Farangs to legally own

Condominium's (but not a whole building ) , because they built far too

many  ,and construction lobby got the Government to allow it.

regards worgeordie 

[Gknrd]

4 hours ago, Adumbration said:

You have absolutely no idea what you are talking about.  You are now on my ignore list.  You much do you pay to you mum to stay in her basement.

Bottom line is it is illegal to buy land in Thailand, and you don't own any land period. And neither does anyone else here that says they do.

I have see it all here.  Guys that pay lawyers to open fake business here. 

I have seen lease land here, then build on it.

I have seen guys put it in their kids name. 

Saw one guy that got back half after a divorce. 

Even the government says it is against the law to own land here and it is illegal to give the money to your wife or GF to buy the land.

Thailand is one of the best places to rent IMO. Great and cheap condos, houses. 

 

 

[Gknrd]

4 hours ago, CartagenaWarlock said:

Great by investing in real estate? Way to go champ. 

I invest and stay in my country where it is legal. And I know the laws.

Edited November 7, 2022 by Gknrd

[Bluespunk]

20 hours ago, webfact said:

real estate business operators will propose

Anything that follows those words is to be treated with suspicion…anywhere in the world. 

Edited November 7, 2022 by Bluespunk

[Puccini]

10 hours ago, BritScot said:

This nonsense would be ended tomorrow if every other country decided to reciprocate thai Thai Land and business laws as the elite would make sure of that. Imagine certain people getting notices to sell their property in places like Germany, UK and USA with a second notice to give 51% of their business holdings to a national.

Section 86 of the Land Code Act suggests that some sort of reciprocal agreement already exists since 1954 with some countries.

Quote

Section 86. An alien may acquire land only by virtue of the provisions of a treaty that provides for ownership of immovable property and also subject to the provisions of this Code.

 

To the above, Section 96 bis was added in 1999, giving foreigners the right to by land also where no reciprocal agreement exists between Thailand and the country of which the foreigner is a national, subject to Ministerial Regulations and the Minster's approval for the acquisition.

 

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).

 

 

 

 

Edited November 7, 2022 by Puccini
Corrected a typing error

[jacko45k]

15 hours ago, ukrules said:

by making it as difficult for foreigners to move here on long-term visas. 

(I know you did not post the above comment, but quoted it!)...I just thought, 'they already do'... I do not see the retirement extension nor even marriage ones as long term, being a max of a year at a time, and terms could be changed, off you go! The more recent LTVs being offered are extremely onerous!

[nigelforbes]

I was half expecting to see a counter headline saying, "Foreigner retiree sector to propose alternative to foreigners spending money in Thailand".

 

[BritScot]

12 hours ago, Puccini said:

Section 86 of the Land Code Act suggests that some sort of reciprocal agreement already exists since 1954 with some countries.

 

To the above, Section 96 bis was added in 1999, giving foreigners the right to by land also where no reciprocal agreement exists between Thailand and the country of which the foreigner is a national, subject to Ministerial Regulations and the Minster's approval for the acquisition.

 

 

I did read once about Americans being allowed to own land for a house however I also read that at that point in time no american had managed to buy land. Try going to a land office with your passport in hand and ask "I want to buy land for a house" and you will be told with a smile " No! You Farang". I believe as of now less than the fingers on my hand own land in Thailand. You can get a "Yellow Property Book" Thais get their Blue-black book.