New Visa Requirements-buying Property

[Joe Walshe]

My Thai wife and I bought a large farm and built a house on it it about 15 years ago. Since then we have been working and living in Ireland. We have always assumed we would retire to Thailand. We now have an opportunity to buy a large piece of land and a few houses in Esarn. I am hoping some locals Farangs could advise on the wisdom of investing further in view of the proposed new visa restrictions on foreigners living inThailand.

[pnustedt]

I am hoping some locals Farangs could advise on the wisdom of investing further in view of the proposed new visa restrictions on foreigners living inThailand.

Hi Joe and welcome

Don't let all the b/s you read on this site put you off. If you have the means to support yourself and are married to a Thai - and you have an idea of what you are letting yourself in for - then go for it. The new regulations will not affect you too much - the financial requirements are less than you would need as an absolute minimum anyway.

I assume you know that you cannot own the freehold of land and that it would be in your wife's name - so you need to be pretty sure of your relationship. Also come up with arrangements should she die before you.

Land has been a good investment, even farmland in Issan. Prices have gone up over the last couple of years but there are still bargains around.

[Joe Walshe]

Thanks for the reply,

With the Euro so high it makes sense to buy land outside the Euro zone. Yes my wife is Thai and we have been married 12 yrs - with two kids. The Thai government seems very good at shooting itself in the foot economically. I cannot see how foreigners buying land, for in-laws to farm, and hoping to spend their remaining years (and cash) in Thailand can do anything but good. Thousnads of grumpy old men retiring to Esarn seems like a nice cottage industry.

Joe Walshe

[TizMe]

Also come up with arrangements should she die before you.

I've wandered about this before. Is there any fool proof way of ensuring that you can continue to live in your "wife's" house if she dies before you.

[pnustedt]

Is there any fool proof way of ensuring that you can continue to live in your "wife's" house if she dies before you.

If you have kids who are Thai your wife could bequest the land to them in her will - hopefully they would not chuck you out?

I have heard that it is possible to bequest the land to a Thai with the proviso that you are given a thirty year lease on it - but check this out with a solicitor.

[dr_Pat_Pong]

Have your wife lease you the property for a lengthy period, so that if she does predecease you, you are well covered. Thereafter your children can inherit if they have claimed their rights to Thai citizenship.

[Joe Walshe]

The property is in my Mother in Laws name and willed to my wife. I appreciate that if my wife dies I might have difficulty claiming the land. we plan to sign over the propoerty to my wife and then draft a will giving it to my two Thai/Irish children. This is more to keep matters tidy than anything else. My original question and concern was; would people advise buying a large piece of property, 8 million baht, as an investment if us farangs are unlikely to be able to or want to (as in my case) abide by rumoured new visa requirements. Even if I could afford to have a high income every month and a lot of money in the ban I don't think I would want that money to not be making money. I would prefer to invest it than have it lying idle in a bank. Any advise or info. on how true the new visa requirement rumours are would be appreciated.

Joe

[dr_Pat_Pong]

I appreciate that if my wife dies I might have difficulty claiming the land.

Difficulty ???? It is IMPOSSIBLE for you to claim the land.