Bank Of Thailand Introduces Three Measures To Tackle Strong Baht

[MacChine]

[

so sad to see in the 21st century, with those perky double standards... so business here and individuals can invest all they have in property abroad, but a farang cannot even own 100% of his business or 1 rai of land to build HIS house with HIS money, because all of that can either be taken away by the government itself or your dear old misses that would go crazy and kick you out of YOUR investment and life savings, any time she desires

Quote Boo hoo

Buy a condo if you can't afford the risk.

Just be aware you cannot leave a condo to foreign heirs, unless they bring in the currency to cover the value

[mccw]

[

so sad to see in the 21st century, with those perky double standards... so business here and individuals can invest all they have in property abroad, but a farang cannot even own 100% of his business or 1 rai of land to build HIS house with HIS money, because all of that can either be taken away by the government itself or your dear old misses that would go crazy and kick you out of YOUR investment and life savings, any time she desires

Quote Boo hoo

Buy a condo if you can't afford the risk.

Just be aware you cannot leave a condo to foreign heirs, unless they bring in the currency to cover the value

My heirs are Thai passport holders. But good info for many, myself included, may not have known this. I suppose there is a grace period for the property to be sold?

[exeter]

Reply to post 33. I think you will find the time period in question is 1 year, so expect a daft offer.

Edited February 23, 2013 by exeter

[exeter]

I will not be able to sleep waiting for these splendid measures to produce results and reverse the surge of the baht. A financial wizard speaking somewhere in the Gulf commented that he could not now afford to come home

[jcnbkk]

[

so sad to see in the 21st century, with those perky double standards... so business here and individuals can invest all they have in property abroad, but a farang cannot even own 100% of his business or 1 rai of land to build HIS house with HIS money, because all of that can either be taken away by the government itself or your dear old misses that would go crazy and kick you out of YOUR investment and life savings, any time she desires

Quote Boo hoo

Buy a condo if you can't afford the risk.

Just be aware you cannot leave a condo to foreign heirs, unless they bring in the currency to cover the value

I wasn't aware you couldn't leave a condo to foreign heir. What does that mean about currency to cover value? That sounds like they have to pay for it again. The other alternative mentioned, it must be sold?

[mccw]

[

so sad to see in the 21st century, with those perky double standards... so business here and individuals can invest all they have in property abroad, but a farang cannot even own 100% of his business or 1 rai of land to build HIS house with HIS money, because all of that can either be taken away by the government itself or your dear old misses that would go crazy and kick you out of YOUR investment and life savings, any time she desires

Quote Boo hoo

Buy a condo if you can't afford the risk.

Just be aware you cannot leave a condo to foreign heirs, unless they bring in the currency to cover the value

I wasn't aware you couldn't leave a condo to foreign heir. What does that mean about currency to cover value? That sounds like they have to pay for it again. The other alternative mentioned, it must be sold?

I'd never heard of it either. Would love to see a link to detailed legal information on this.

[Naam]

[

so sad to see in the 21st century, with those perky double standards... so business here and individuals can invest all they have in property abroad, but a farang cannot even own 100% of his business or 1 rai of land to build HIS house with HIS money, because all of that can either be taken away by the government itself or your dear old misses that would go crazy and kick you out of YOUR investment and life savings, any time she desires

Quote Boo hoo

Buy a condo if you can't afford the risk.

Just be aware you cannot leave a condo to foreign heirs, unless they bring in the currency to cover the value

bull!

[Rimkok]

The third measure is to lift the limit on the amount of money that may be transfered outside of the country, previously capped at 2,000 US dollars per transaction.

¿¿¿ ???

I think it is maybe 20,000. Same as you can carry in and out. 2,000 is nothing.

The limit is 50,000 usd day, 100,000 usd a month or 500,000 usd a year

[SantiSuk]

The unrestricted property ownership in west is terrible for local people and one of the reason things are such a mess.

Although Thai law bad for Joe falang small cash. It is muchthe best for the thThai nation

+1. The Thais got this bit right. What's the point of setting up a nation state then allowing any foreigner from 10,000 miles away to start buying up prime pieces of it just to make a turn that will be spent outside that nation and drive up prices for real nationals?

Thailand should of course allow foreigners to become Thai nationals much more easily than they do, but non-resident/non-national ownership of businesses and land is libertarian capitalism gone haywire.

[Naam]

The unrestricted property ownership in west is terrible for local people and one of the reason things are such a mess.

Although Thai law bad for Joe falang small cash. It is muchthe best for the thThai nation

+1. The Thais got this bit right. What's the point of setting up a nation state then allowing any foreigner from 10,000 miles away to start buying up prime pieces of it just to make a turn that will be spent outside that nation and drive up prices for real nationals?

Thailand should of course allow foreigners to become Thai nationals much more easily than they do, but non-resident/non-national ownership of businesses and land is libertarian capitalism gone haywire.

yada, yada... the average "real Thai national" can't afford prime property in Thailand. period!

[mccw]

The unrestricted property ownership in west is terrible for local people and one of the reason things are such a mess.

Although Thai law bad for Joe falang small cash. It is muchthe best for the thThai nation

+1. The Thais got this bit right. What's the point of setting up a nation state then allowing any foreigner from 10,000 miles away to start buying up prime pieces of it just to make a turn that will be spent outside that nation and drive up prices for real nationals?

Thailand should of course allow foreigners to become Thai nationals much more easily than they do, but non-resident/non-national ownership of businesses and land is libertarian capitalism gone haywire.

yada, yada... the average "real Thai national" can't afford prime property in Thailand. period!

No, but farm land is widely affordable. It would not be in every johnny foreigner felt safe to buy it up for his retirement retreat in the boonies or Arabs wanting to secure foodles supplies. The affordability / high pricing of tourist locations is in a large part due to the use of the companies loop hole; its fair to say prices would be much lower if it was really Thai nationals only.

[Naam]

The unrestricted property ownership in west is terrible for local people and one of the reason things are such a mess.

Although Thai law bad for Joe falang small cash. It is muchthe best for the thThai nation

+1. The Thais got this bit right. What's the point of setting up a nation state then allowing any foreigner from 10,000 miles away to start buying up prime pieces of it just to make a turn that will be spent outside that nation and drive up prices for real nationals?

Thailand should of course allow foreigners to become Thai nationals much more easily than they do, but non-resident/non-national ownership of businesses and land is libertarian capitalism gone haywire.

yada, yada... the average "real Thai national" can't afford prime property in Thailand. period!

No, but farm land is widely affordable. It would not be in every johnny foreigner felt safe to buy it up for his retirement retreat in the boonies or Arabs wanting to secure foodles supplies. The affordability / high pricing of tourist locations is in a large part due to the use of the companies loop hole; its fair to say prices would be much lower if it was really Thai nationals only.

if farmland is widely affordable why don't Thais buy it left and right? and if property prices in Bangkok, Phuket, Hua Hin and Pattaya would drop 50% how many average Thais could afford to buy? what's the percentage of retired Johnny Foreigners who would want to buy farmland and move to rural areas?

[mccw]

The unrestricted property ownership in west is terrible for local people and one of the reason things are such a mess.

Although Thai law bad for Joe falang small cash. It is muchthe best for the thThai nation

+1. The Thais got this bit right. What's the point of setting up a nation state then allowing any foreigner from 10,000 miles away to start buying up prime pieces of it just to make a turn that will be spent outside that nation and drive up prices for real nationals?

Thailand should of course allow foreigners to become Thai nationals much more easily than they do, but non-resident/non-national ownership of businesses and land is libertarian capitalism gone haywire.

yada, yada... the average "real Thai national" can't afford prime property in Thailand. period!

No, but farm land is widely affordable. It would not be in every johnny foreigner felt safe to buy it up for his retirement retreat in the boonies or Arabs wanting to secure foodles supplies. The affordability / high pricing of tourist locations is in a large part due to the use of the companies loop hole; its fair to say prices would be much lower if it was really Thai nationals only.

if farmland is widely affordable why don't Thais buy it left and right? and if property prices in Bangkok, Phuket, Hua Hin and Pattaya would drop 50% how many average Thais could afford to buy? what's the percentage of retired Johnny Foreigners who would want to buy farmland and move to rural areas?

What do mean? Thais do buy it and sell it because it is largely a Thai market. It is widely affordable.

The condo laws are a fine middle ground to keep the land area used down but still allow foreigners to own thier own home. I don't see any problem with the laws as they are.