Would You Buy Any Real Estate Property In A Country That Does Not Provide You Permanent Visa In Exchange?

[falang07]

I see many farangs doing visa runs and complaining about the visa problems, and every time I tell them I would never buy a condo unless they provide me some kind of a permanent visa. (since it is the only property you can buy anyway, houses bought on Thai companies are never more than 49% in your name) If I invest here, I do not want to be forced to leave the country due to visa issues. That is why I rent, and since it is only 5000 baht per month for a new house, what the heck And when I see the condos/houses that have 20+ years (especially after being rented out), they are very often already worthless so you can not expect to sell them / get any money back if you want to leave/move. So why do you keep helping the Thai baht exchange rate with foreign currencies transfered over here? I could not resist asking

[gotlost]

[trogers]

Perhaps you can enlightened us as to which country in the world automatically grants permanent right of stay to foreigners who buy into their real estate? Singapore, Hong Kong, USA, UK, ...?

But I do have a few countries in mind that issue passports to foreigners if they invest enough...

Edited November 12, 2010 by trogers

[padeakin]

I also willnot invest in property with the visa or permission to stay being so uncertain, Iwould not expect some kind of permanent visa or residency simply because of buyinginto real estate, but I feel that if I could obtain something more reliablebased on the fact that I am married to a Thai and support our children, and canprove that I have the means to do this, only then would I invest in property. Without this why would I invest mysavings in property knowing that I could loose everything for a reason as minoras an official having a bad day at the office?

[SantiSuk]

Its a balance of risk thing. To me there is much more risk in leaving all my wealth locked up in a country I don't now live in and don't intend to live in and with an exchange rate that will continue to go through the floor as Thailand gets richer and my country gets poorer.

I am amazed when I see falangs who think they are being risk averse trying to keep everything outside the country they have chosen for their future.

[Benjie]

So why just not buy property? Why the need to make the post? Some feel happy with owning here, thats up to them. Some are scared of risk but why bother moaning about it to others. Either you are happy with the risks or not, no need to envy the opposite.

[coolhandjoe]

Beware it's a gamble!

[Naam]

If I invest here, I do not want to be forced to leave the country due to visa issues. That is why I rent, and since it is only 5000 baht per month for a new house

for your dog?

[Soutpeel]

If I invest here, I do not want to be forced to leave the country due to visa issues. That is why I rent, and since it is only 5000 baht per month for a new house

for your dog?

[kuffki]

I think your question is an answer in itself. While there are no country's that do grant automatic visa, many countries do and have an amount that one should invest, but more importantly in those countries your investment is secure and will always be yours-where it is not the case in Thailand, in my opinion.

I am well aware the bashing i will get but what is to stop Thai government to pass a new law where foreigner can not own a condo and anyone who does must sell theirs in a set time frame of say 4 weeks.. While for many it sounds crazy or impossible, this is Thailand and crazy rules and laws have been implemented with a change of government.

Just think if a new government does not honor any arrangements made by the previous, whats to stop something as crazy as this to implemented?

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

One other point to mention, when you purchase a condo with a nice view, next year or year after you may end up having a view of a wall, because someone else will develop condo double the size of yours right in front.

Just look at Northpoint in Pattaya, all the condo's behind have been blocked, where is prior to that many had ocean view and now have wall views.

[trogers]

Just think if a new government does not honor any arrangements made by the previous, whats to stop something as crazy as this to implemented?

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

One other point to mention, when you purchase a condo with a nice view, next year or year after you may end up having a view of a wall, because someone else will develop condo double the size of yours right in front.

Just look at Northpoint in Pattaya, all the condo's behind have been blocked, where is prior to that many had ocean view and now have wall views.

Closing loopholes in existing laws is not the same 'as not honoring any arrangements made by the previous'. The intend of the law is specific and known. Yet, some foreigners with full knowledge and intention of the law, try to circumvent it, and then gripe about the fact that they are being stopped from doing so.

Apparently you have not owned or stayed long term in a high-rise in a major city to complain about your view being blocked by new developments. Try HK and Singapore...

[kuffki]

Just think if a new government does not honor any arrangements made by the previous, whats to stop something as crazy as this to implemented?

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

One other point to mention, when you purchase a condo with a nice view, next year or year after you may end up having a view of a wall, because someone else will develop condo double the size of yours right in front.

Just look at Northpoint in Pattaya, all the condo's behind have been blocked, where is prior to that many had ocean view and now have wall views.

Closing loopholes in existing laws is not the same 'as not honoring any arrangements made by the previous'. The intend of the law is specific and known. Yet, some foreigners with full knowledge and intention of the law, try to circumvent it, and then gripe about the fact that they are being stopped from doing so.

Apparently you have not owned or stayed long term in a high-rise in a major city to complain about your view being blocked by new developments. Try HK and Singapore...

Firstly i was not referring to loopholes and honoring government arrangements all in the same sentence.

Loopholes is 1 thing, and has nothing to do with the other.

Thai government is know for this-fire trucks, highway build but HK company and many many more.

Apparently i have not owned or lived in as many places as you have like HK or Singapore-please forgive me, HOWEVER we are talking about Thailand and investing in property here not HK or Singapore or any other place on this earth.

[trogers]

Apparently i have not owned or lived in as many places as you have like HK or Singapore-please forgive me, HOWEVER we are talking about Thailand and investing in property here not HK or Singapore or any other place on this earth.

Unlike in HK and Singapore, you do have an option of a 100-year unhindered view from a block of high-rise in Thailand, by building one in the middle of a rice field....

[waza]

Apparently i have not owned or lived in as many places as you have like HK or Singapore-please forgive me, HOWEVER we are talking about Thailand and investing in property here not HK or Singapore or any other place on this earth.

Unlike in HK and Singapore, you do have an option of a 100-year unhindered view from a block of high-rise in Thailand, by building one in the middle of a rice field....

Unless, like a friend of mine, your told after purchase that the paddy is a sacred site because of some ghost story and you can only build in one corner. He ended up with a 15m2 house.

[kuffki]

Apparently i have not owned or lived in as many places as you have like HK or Singapore-please forgive me, HOWEVER we are talking about Thailand and investing in property here not HK or Singapore or any other place on this earth.

Unlike in HK and Singapore, you do have an option of a 100-year unhindered view from a block of high-rise in Thailand, by building one in the middle of a rice field....

oHH the funny man. It would be devastating to actually address the thread without trying to bash OP or make smartass comments.

Please forgive us less fortunate ones who have not lived in HK or Singapore and actually think how wisely to use our money.

But saying that, the ones who usually do mock others especially when it comes to money are the ones who never have any, but that would be something to discuss on another thread.

[gamini]

I think your question is an answer in itself. While there are no country's that do grant automatic visa, many countries do and have an amount that one should invest, but more importantly in those countries your investment is secure and will always be yours-where it is not the case in Thailand, in my opinion.

I am well aware the bashing i will get but what is to stop Thai government to pass a new law where foreigner can not own a condo and anyone who does must sell theirs in a set time frame of say 4 weeks.. While for many it sounds crazy or impossible, this is Thailand and crazy rules and laws have been implemented with a change of government.

Just think if a new government does not honor any arrangements made by the previous, whats to stop something as crazy as this to implemented?

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

One other point to mention, when you purchase a condo with a nice view, next year or year after you may end up having a view of a wall, because someone else will develop condo double the size of yours right in front.

Just look at Northpoint in Pattaya, all the condo's behind have been blocked, where is prior to that many had ocean view and now have wall views.

If I give my wife 10 million baht as a birthday present it is her money and if she wants to buy land with it no court of law in Thailand can stop her. I have given my wife millions of baht as presents and she has bought a lot of land. If any official in the land department questioned how she got the money she would tell them that it is not thier business. This so called law is something the land department has made up on its own.

and could be challenged in any court of law as unconstitutional.

[ThaiRich]

I have been in Thailand nearly 7 years now. I have not, nor will I ever buy anything that can't be put in a suitcase and taken back home with me. I wouldn't own land in Thailand if they gave permanent visa or not. Cause the laws around here(or at least the interpretation of the laws) change on a daily basis.

[waza]

I think your question is an answer in itself. While there are no country's that do grant automatic visa, many countries do and have an amount that one should invest, but more importantly in those countries your investment is secure and will always be yours-where it is not the case in Thailand, in my opinion.

I am well aware the bashing i will get but what is to stop Thai government to pass a new law where foreigner can not own a condo and anyone who does must sell theirs in a set time frame of say 4 weeks.. While for many it sounds crazy or impossible, this is Thailand and crazy rules and laws have been implemented with a change of government.

Just think if a new government does not honor any arrangements made by the previous, whats to stop something as crazy as this to implemented?

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

One other point to mention, when you purchase a condo with a nice view, next year or year after you may end up having a view of a wall, because someone else will develop condo double the size of yours right in front.

Just look at Northpoint in Pattaya, all the condo's behind have been blocked, where is prior to that many had ocean view and now have wall views.

If I give my wife 10 million baht as a birthday present it is her money and if she wants to buy land with it no court of law in Thailand can stop her. I have given my wife millions of baht as presents and she has bought a lot of land. If any official in the land department questioned how she got the money she would tell them that it is not thier business. This so called law is something the land department has made up on its own.

and could be challenged in any court of law as unconstitutional.

I thought this wasnt being actively persued anymore. Does anyone have any information on how many properties were siezed? I would be more worried about a situation similar to Goa.

Edited November 13, 2010 by waza

[Soutpeel]

Give me country that does give you a "permanent" visa when you buy property....there is no such thing as a permanent visa

You can only be:

1. On a "visa"

2. Permanent Resident (which is not a visa BTW)

3. A Citizen of the country

For example "my 2nd home program" in Malaysia gives you a long term "visa" 10 year I think and other benefits, but is this permanent ? No

[SantiSuk]

I have been in Thailand nearly 7 years now. I have not, nor will I ever buy anything that can't be put in a suitcase and taken back home with me. I wouldn't own land in Thailand if they gave permanent visa or not. Cause the laws around here(or at least the interpretation of the laws) change on a daily basis.

I agree with your strategy in your circumstances. You do not regard Thailand as your home, so don't invest - seems wise to me.

Others regard Thailand as their home and a different approach may be appropriate

[doggie888888]

I have been in Thailand nearly 7 years now. I have not, nor will I ever buy anything that can't be put in a suitcase and taken back home with me. I wouldn't own land in Thailand if they gave permanent visa or not. Cause the laws around here(or at least the interpretation of the laws) change on a daily basis.

Yup, some apply that logic to their Thai girlfriends. Consequently, the Thai girls tend to be petite...

[hansnl]

Perhaps you can enlightened us as to which country in the world automatically grants permanent right of stay to foreigners who buy into their real estate? Singapore, Hong Kong, USA, UK, ...?

But I do have a few countries in mind that issue passports to foreigners if they invest enough...

There is a difference however.

I bought a small flat in West Norwood (London) a very long time ago.

I could also have bought a house.

No problem, it will always remain my property, or my children after going to paradise...or hel_l.

Here in Thailand, you can buy a car, a condo or a house in your wife's name.

If something goes wrong, and are chucked out of the country, you loose everything.

If, for example I would not be able to enter the UK any more, I still own my flat.

It does not disappear.

The rules for not owning land in Thailand are outdated and not really helping the trust in Thailand.

What would be wrong for a farang to own a plot of land for a house?

Ah well, who am I?

[kuffki]

I think your question is an answer in itself. While there are no country's that do grant automatic visa, many countries do and have an amount that one should invest, but more importantly in those countries your investment is secure and will always be yours-where it is not the case in Thailand, in my opinion.

I am well aware the bashing i will get but what is to stop Thai government to pass a new law where foreigner can not own a condo and anyone who does must sell theirs in a set time frame of say 4 weeks.. While for many it sounds crazy or impossible, this is Thailand and crazy rules and laws have been implemented with a change of government.

Just think if a new government does not honor any arrangements made by the previous, whats to stop something as crazy as this to implemented?

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

One other point to mention, when you purchase a condo with a nice view, next year or year after you may end up having a view of a wall, because someone else will develop condo double the size of yours right in front.

Just look at Northpoint in Pattaya, all the condo's behind have been blocked, where is prior to that many had ocean view and now have wall views.

If I give my wife 10 million baht as a birthday present it is her money and if she wants to buy land with it no court of law in Thailand can stop her. I have given my wife millions of baht as presents and she has bought a lot of land. If any official in the land department questioned how she got the money she would tell them that it is not thier business. This so called law is something the land department has made up on its own.

and could be challenged in any court of law as unconstitutional.

Sure, you can tell all that to the court after land department has taken the land, i am sure Court will be fair and give back the land under the circumstance you mentioned.

PS. Court costs should not be much, i would estimate only 500 000-1000 000 baht and take i say 1-15 years, so i think you got it all sorted pretty well

[kuffki]

Give me country that does give you a "permanent" visa when you buy property....there is no such thing as a permanent visa

You can only be:

1. On a "visa"

2. Permanent Resident (which is not a visa BTW)

3. A Citizen of the country

For example "my 2nd home program" in Malaysia gives you a long term "visa" 10 year I think and other benefits, but is this permanent ? No

Not sure about current situation, but few years ago Australia would grant perm residency to anyone who invested $800 000 in Australian economy especially construction, buying off the plan qualified.

I think OP meant perm residency or more stable visa, but just used the wrong words to describe it.ie before you could get non-b renewed with no hassles as long as you owned condo worth 3 000 000 or more, it then went to 5 000 000 and now i think at 8 00 0000, but rules and amounts and visa regulations seems to change every year, so very hard to predict what would be ad if the visa will be renewed.

In what country in the world, when you marry your spouse does not get some kind of perm status? irrespective of how many years you been married

[Naam]

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

bull² !

[kuffki]

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

bull² !

I woud of thought someone of your "stature" had little more intelligence to write something else, not to mention this was on Thai Visa, but i guess you missed it, trying to be funny

[Naam]

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

bull² !

I woud of thought someone of your "stature" had little more intelligence to write something else, not to mention this was on Thai Visa, but i guess you missed it, trying to be funny

there's a lot of bull² on Thaivisa

[kuffki]

the law about foreigner not been allowed to own land has always been in place, but many bought houses and land in their wives name. Not so long ago, they have amended that, saying that spouse had to purchase land/house with her own money and not from the money received from her foreigner husband.

bull² !

I woud of thought someone of your "stature" had little more intelligence to write something else, not to mention this was on Thai Visa, but i guess you missed it, trying to be funny

there's a lot of bull² on Thaivisa

So, how exactly do you determine what is and what is not, or is it based on what you like and what you dislike?

How about saying" ops sorry i missed that one, what was it al about? are there any more reports?" or something along the lines, rather then trying to justify your pretty needless comment that its all bull.

[Naam]

Kuffki, you posted misinformation concerning a law that does not exist, obviously based on hearsay. if you think i am wrong and you are right than provide a link to a government website to verify your claim.

until then i say "bull²" and i repeat that inspite of very valuable information -based on which i profited a lot- Thaivisa is full of "bull".

[Nawtier]

t- Thaivisa is full of "bull".

Sacrilage...