Land Dept Revises Guidelines for Foreign Ownership of Land

[Gottfrid]

The land plot they marked in the middle looks really attractive. 40 mill well spent. 

[OneMoreFarang]

On 6/8/2024 at 8:19 AM, webfact said:

a maximum imprisonment term of three years, a maximum fine of 6,000 baht

Amazing Thailand.

[jvs]

40 million have to be brought in?

Pay income tax on that first?

Yeah,really attractive!

Here you go!

https://www.islands.com/private-islands-for-sale-under-1-million/

 

[hotchilli]

3 hours ago, webfact said:

But Thai law restricts land ownership to Thai nationals, with few exceptions.

The size of the envelope donated to the local land office?

[Purdey]

I guess inheriting land from her indoors hasn't changed. Sell within a year or have the local government sell it for you 

[ryxyz]

On 6/7/2024 at 9:10 PM, retarius said:

Can I ask where you would be living? $1 million is not what it was. It will barely buy a house in the US or UK. 

I'm in the process of buying a 3B2B 1,050 square feet house in the US for around $300k including closing costs, and this is located just about a 30 minutes drive from a very busy airport. 

 

Edit to include price & size of the house, and typo correction 

Edited June 10 by ryxyz

[klauskunkel]

Quote

And now the Department of Lands (DOL) has revealed the three conditions under which a foreigner can own land in Thailand.

Inheritance as a legal heir under Section 93 of the Land Code: Foreign nationals can inherit land as legal heirs under Section 93 of the Land Code, provided they receive approval from the Minister.

Dear DOL, there are two more items to reveal with regards to the above:

Which Minister are you talking about (Interior, Justice, Prime, Any)? And what could possibly win such an approval from the classified Minister?

[wwest5829]

On 6/8/2024 at 10:56 AM, Liverpool Lou said:

...and in the US.

In my case, true as I could have afforded a working middle class life in the USA but, at half that amount, I have the same here in Thailand.

[john donson]

farangs has nothing to do, it are thais and agents that speculate and thing went up 50-100% for the same stupid 'new' cardboard condo...

 

[Presnock]

On 6/8/2024 at 9:14 AM, AhFarangJa said:

I have an idea for the British Government. Ban all Thai people from owning land and property in UK unless they meet the same requirements as here. Also, all Thai businesses in UK must be 51% owned by Brits. I wonder what this Government would say then?

I have always been an advocate for reciprocal laws between the US and foreign countries especially for land/house ownership, businesses, taxes on non-citizen tax residents, etc.

[DrPhibes]

On 6/10/2024 at 1:51 PM, ryxyz said:

I'm in the process of buying a 3B2B 1,050 square feet house in the US for around $300k including closing costs, and this is located just about a 30 minutes drive from a very busy airport. 

 

Edit to include price & size of the house, and typo correction 

Wow, that's an awfully small house.  Sure the sqft is correct? I have small 2bdrm 1.5 bath condo that's bigger than that.