Will the government’s land ownership scheme for wealthy foreigners get off the ground?

[snoop1130]

 

Thai people are mostly opposed to a controversial government move that would allow high net worth foreigners to own land in the country.

 

A Cabinet resolution last month allows foreigners who invest 40 million baht in Thailand to buy up to one rai (0.16 hectares) of land.

 

Conditional offer
The Cabinet approval for the Interior Ministry proposal on land ownership for foreigners is primarily aimed at attracting more foreign investment to the country. The proposal, however, attaches many conditions:

 

 

• A foreigner must invest at least 40 million baht for at least three years in the country.
• Four groups of foreigners are eligible for the privilege: wealthy people, pensioners, those who want to work from Thailand, and talented workers eligible for a long-term resident visa.
• They have to invest at least 40 million in a targeted business for at least three years. Investment in financial assets, such as bonds, are also allowed. If the investment is withdrawn before the three-year period, the right to own land will be revoked.
• Purchase of agricultural land is not allowed, and land can be bought only in urban areas of Bangkok, Pattaya, municipality areas, or designated residential areas.

 

Full Story: https://www.thaipbsworld.com/will-the-governments-land-ownership-scheme-for-wealthy-foreigners-get-off-the-ground/

 

-- © Copyright Thai PBS 2022-11-07

 

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[Boomer6969]

Ask the Chinese...

[Nicholas Paul KNIGHT]

No as no-one with at least ONE brain cell will trust the Thai Government to keep its word  .

[473geo]

I get the impression the plan is not at all popular with the rural Thai people who perhaps are only understanding as far as 'foreigners allowed to buy land' 

 

As for foreigners, this offer or very similar has been around for years has it not? what has been the take up? 

 

[Bangkok Barry]

No. Another U-turn.

[outsider]

is the only reaction to the scam in question.

[Pib]

No...it will not get off the ground.  It was reported in the Bangkok Post today/8 Nov and TheNation last night/7 Nov that the Interior Minister formerly requested withdrawal of the proposal and the Deputy Prime Minister Prawit (the I Don't Know guy) accepted the withdrawal.  Summary: the govt has done another U-turn...flip-flop...reneged on the proposal....another half baked scheme thrown out.  

Edited November 8, 2022 by Pib

[Pib]

 

 

[Richard 2020]

Measures must be taken to discourage foreigners from using nominees to buy land next to their one-rai plots and combine it into larger plots, Meesak said.

One way to do this would be to set a minimum price for land for foreigners, he said.

For plots up to 50 square wah (200 square meters), he proposed a minimum price of 5 million baht in Greater Bangkok and 3 million baht in other provinces.
For plots of 51 to 100 square wah, it should be 10 million baht.
For land with 101 to 200 square wah, 50 million baht.
And for plots with 201 square wah to 1 rai: 100 million baht in Greater Bangkok and 30 million baht in provinces.
For land in residential projects, foreign owners should have half the rights of Thais when it comes to voting on matters related to the project, Meesak said.

 

Any questions ??

 

[hotchilli]

17 hours ago, snoop1130 said:

Thai people are mostly opposed to a controversial government move that would allow high net worth foreigners to own land in the country.

How many Thai people were asked..?

[shackleton]

It's a non starter ????

[NoshowJones]

If foreigners are really wealthy, they are not going to be coming to The Banana Republic Thailand,  run by a bunch of tinpot soldiers.

[couchpotato]

1 hour ago, shackleton said:

It's a non starter ????

Yep will be discarded by cabinet today...politics win.

 

[pipeflaw]

No, not in its present form.