Thailand in ASEAN - Will we be able to buy land?

[dagling]

Had a little discussion with a couple of buddies yesterday, where one thought that we would see changes in the rules when it comes to buying land in their own name for foreigners here in Thailand.

He believed that Thailand must deal with ASEAN's regulations, and he also mentioned several countries, including Singapore where foreigners can buy land in their own name.

What is your opinion on what will happen here in Thailand, will we see such changes, or is my friend's opinions just stupid?

[hagler]

stupid

[geriatrickid]

Good question. I would expect the answer would be that even if it eventually becomes legal, there would be so many legal roadblocks erected as to make it infeasible.

[Soutpeel]

including Singapore where foreigners can buy land in their own name.

I stand to be corrected but in Singapore foreigners can buy land in their own name in some areas, and there are areas where only Singapore nationals can purchase land.

So as far as I am aware in Singapore one cannot just buy what ever they want, and besides any foreigner buying land in Singapore would most certainly be a rather "well to do" foreigner...ie the sort of quality foreigner Thailand keeps bleating on about, considering the amounts of money we could be talking about...

Your not really comparing apples with apples here

[GuestHouse]

Thai(Chinese) politicians, Thai(Chinese) money lenders and Thai(Chinese) investors are currently divesting ethnic Thais of their land.

Don't get silly ideas that they are going to let Johnny Farang in on the act.

[Beetlejuice]

including Singapore where foreigners can buy land in their own name.

I stand to be corrected but in Singapore foreigners can buy land in their own name in some areas, and there are areas where only Singapore nationals can purchase land.

So as far as I am aware in Singapore one cannot just buy what ever they want, and besides any foreigner buying land in Singapore would most certainly be a rather "well to do" foreigner...ie the sort of quality foreigner Thailand keeps bleating on about, considering the amounts of money we could be talking about...

Your not really comparing apples with apples here

It is the same in Thailand. Foreigners can purchase a certain amount of land, under special circumstances, if they have the appropriate funds or qualify as imposed by the rules regarding the ownership of land for foreigners in Thailand. But I doubt if these land buying rights will be within the reach of the majority shoestring budgeted farangs that are plonking themselves in Thailand these days. Also as similar to all the countries in the EEC, the different Asean countries have their own separate laws and regulations, plus Westerners do not fall under the auspices of the Asean communities, but are bound by the rules and laws of the countries they reside in, meaning Westerners will still be restricted from certain practices and ownerships under the present laws of Thailand unless they become fully fledged Thai citizens.

[CharlieH]

Not a hope in hell !

[Degobuy]

Never happen.

[wileycoyote]

Pessimistic

[Seastallion]

The OP's buddy talks about ASEAN regulations, and various sovereign laws; Two completely separate kettles of fish.

So no.

[Som wat]

And yet the largest land owner in Thailand was born in America.

Go figure.

There are many bits of misunderstandings about the AEC (ASEAN has been around for decades already). another one is the free migration of all ASEAN nationalities within the AEC region. Like the EU. That is not the case with the AEC. Nationals of other ASEAN countries will still need the same visas they need now.

[Berkshire]

Even if all ASEAN countries were to enact more lenient land ownership laws in the spirit of the AEC, it would only apply to citizens of ASEAN member countries. And even that is highly doubtful.

[Torrens54]

Not a hope in hell !

But of course if any Thai were told he/she can not buy land for a home in their name, in Australia for instance, there would be SCREAMS of RACISM!!!

Welcome to the "HUB of ONE WAY STREETS."

[Som wat]

There was talk one or two years ago about unified business ownership legislation within the AEC.

Where non-ASEAN nationals can own the majority of a business within the AEC.

Obviously the knock-on effect of this in Thailand is that the 49% rule would become invalid. Thus a foreigner could own the majority of a Thai listed company.

Knocking on to the land ownership rule where land can be owned by Thai companies.

If it was ever to be implemented as part of the AEC then there would no doubt be a law created to stop foreign owned Thai companies from being able to own land.

[pigeonjake]

they can keep it as it is for me,

jake

[HUAHIN62]

In which ASEAN country can you buy any land where you want to? According to my knowledge everyone of these countries have some or other limitation on foreign land ownership.

[Som wat]

In which ASEAN country can you buy any land where you want to? According to my knowledge everyone of these countries have some or other limitation on foreign land ownership.

You as a foreigner can buy land in Thailand, any land that a Thai can buy - ie, not national park land or beaches. Up to one rai.

You just have to invest 40m.

[YipYipYa123]

In which ASEAN country can you buy any land where you want to? According to my knowledge everyone of these countries have some or other limitation on foreign land ownership.

You as a foreigner can buy land in Thailand

You just have to invest 40m.

Invest / kiss it Goodbye .....

[khunPer]

If status of foreign ownership changes because of ASEAN it may be for ASEA citizens only, not farangs – like Europe and EU, EU citizens have other rights within EU than 3rd country citizens. I don’t think a farang shall count on any benefits of that kind after 2015…

[deepcell]

stupid and impossible! do not trip! is much easier you win the lottery!

[richard10365]

No need to guess. ASEAN is one of the most transparent organizations I know. It's a great example of what a government should be, if it was one. Everything is online but I found the links for you so now you only need to read.

ASEAN Investment Area (AIA) Council (Click here)

ASEAN Comprehensive Investment Agreement (ACIA) (Click here)

ASEAN Compehensive Investment Agreement Reservation List (Click here)

[Som wat]

No need to guess. ASEAN is one of the most transparent organizations I know. It's a great example of what a government should be, if it was one. Everything is online but I found the links for you so now you only need to read.

ASEAN Investment Area (AIA) Council (Click here)

ASEAN Comprehensive Investment Agreement (ACIA) (Click here)

ASEAN Compehensive Investment Agreement Reservation List (Click here)

Unfortunately that's too much reading for a bloke sitting in a bar by himself.

So might be wasted on here.

[Cobragold]

You are wrong, in Singapore no foreigner can buy land any where except on sentosa island, there the land comes with a big house. In Singapore only a local or permanent resident can buy landed property. On sentosa island the prices of houses will set you back several RR cars.

You can only buy landed property or land in Malaysia, there the minimum cost must be above 1million ringgit on the main land and 2 mil on Penang. Big advantage is that it's mostly freehold, to buy cheaper you must consult a lawyer on how to get around the min amount.

Edited May 15, 2014 by Cobragold

[samran]

I can't think of anywhere in ASEAN where non nationals have rights to buy land.

[Som wat]

I can't think of anywhere in ASEAN where non nationals have rights to buy land.

Thailand.

Investment permiting. 1 rai maximum.

Laos: Can purchase land from provincial and capital authorities, under certain conditions and with a minimum investment of US$500,000.

In short, if you haven't got a Rolls and a Bentley, don't bother asking about it.

Edited May 15, 2014 by Som wat

[Thaiberius]

Why do farangs invest money in Thailand by buying property and land? I can understand if the desire is to provide security for their wife and/or children but otherwise I can see no advantages.

By tying up up capital in the present precarious political situation there is no guarantee of appreciation in value or even any guarantee over security of the investment.

Whilst the political uncertainty is real along with the statement by the army today saying they may intervene if political violence continues, there are more uncertain times ahead. Once the line of succesion is brought to the forefront and a decision is made there will be more uncertainty and most likely an intervention by the military.

[kerrysum]

Thai(Chinese) politicians, Thai(Chinese) money lenders and Thai(Chinese) investors are currently divesting ethnic Thais of their land.

Don't get silly ideas that they are going to let Johnny Farang in on the act.

Pretty much been that way for years, I agree totally.... Have been signed on as a Trustee before, but there is always a 49/51% rule that applies......

Especially in the North East/ Issan.... But at least I had a 49% say so.... But as a trustee at least I had a voice.... or maybe an opinion.....

I find there are never any clear rules, they like grey instead of black and white...... So if we applied all rules that they impose on us, in our own country, things just might just change.... You can't rob Peter to pay Paul....

Just my opinion......

Kerry

[richard10365]

I can't think of anywhere in ASEAN where non nationals have rights to buy land.

This is from one of the documents I posted above.

THAILAND

Page 18 of 25

18.

Sector

Sub-Sector

Industry Classification

Level of Government

Type of Obligation

Description of Measure

Source of Measure

:

:

All sectors

-

-

Central

National Treatment

Foreigner18 is permitted to own land according to Investment

Promotion Act B.E. 2520 (1977), Industrial Estate Authority of

Thailand Act B.E. 2522 (1979), and the Petroleum Act B.E. 2514

(1971).

Foreigner, who brings money at least 40 million Baht for

investment, is allowed to own land for residential purpose not

exceeding 1 rai (1 rai = 1,600 square meters) with a permission by

the Ministry of Interior.

In the case of hiring the land more than 100 rai for commercial or

industrial purposes, where a foreigner or a juridical person

according to Section 97 of Land Code is a hirer, sub-hirer or

transferee of the right of hirer, its investment in an operation of

such commerce or industry shall not be less than 100 million Baht,

excluding the cost of hire. Also, the total amount of money invested

shall be foreign exchange brought into the Kingdom or withdrawn

from the foreign currency deposit account or withdrawn from the

non-resident Baht account.

- Foreign Business Act B.E. 2542 (1999), as amended.

- Hire of Immovable Property for Commerce and Industry Act B.E.

2542 (1999), as amended.

- Land Code, as amended.

- Act Promulgating the Land Code B.E. 2497 (1954), as amended

- Land Code Amendment Act (No.8) B.E. 2542 (1999), as

amended.

- Ministerial regulations.

- Administrative guidelines.

[usasia8888]

including Singapore where foreigners can buy land in their own name.

I stand to be corrected but in Singapore foreigners can buy land in their own name in some areas, and there are areas where only Singapore nationals can purchase land.

So as far as I am aware in Singapore one cannot just buy what ever they want, and besides any foreigner buying land in Singapore would most certainly be a rather "well to do" foreigner...ie the sort of quality foreigner Thailand keeps bleating on about, considering the amounts of money we could be talking about...

Your not really comparing apples with apples here

It is the same in Thailand. Foreigners can purchase a certain amount of land, under special circumstances, if they have the appropriate funds or qualify as imposed by the rules regarding the ownership of land for foreigners in Thailand. But I doubt if these land buying rights will be within the reach of the majority shoestring budgeted farangs that are plonking themselves in Thailand these days. Also as similar to all the countries in the EEC, the different Asean countries have their own separate laws and regulations, plus Westerners do not fall under the auspices of the Asean communities, but are bound by the rules and laws of the countries they reside in, meaning Westerners will still be restricted from certain practices and ownerships under the present laws of Thailand unless they become fully fledged Thai citizens.

Just curious, can buying a property qualify as an investment (say over US$1mn or something) and then control the land? you mentioned "Foreigners can purchase a certain amount of land, under special circumstances". So for example, do the villas that I see over 33 mn Baht may qualify? Just trying to figure out your point and how to apply it if I could.

[KonaRain]

Sorry no quotes ^^ There's the 10 million baht condo deal, right? or is it more..33 M..?

from another thread I can't recall..

I have three acres in Hawaii that cost like Brazil or Paraguay..I like the point on security for one's wife and children why own land? Many reasons..but hard to do in Asia..I like the law quote.. 40 million baht, that's a lot of money..And no, someone with $500,000 would not drive a Rolls, except to be seen..

Great answers, guys Plenty Leasehold land where I am..not without problems! Alohz

'trying to effect change, y are...'

Edited May 17, 2014 by KonaRain