Govt floats long-term land leases for foreigners

[Jonathan Fairfield]

Govt floats long-term land leases for foreigners

 

BANGKOK — Foreigners may be able to actually own land in Thailand – even if it’s just temporary.

 

Speaking on Friday at an estate trade event, finance minister Apisak Tantivorawong said his ministry is studying a way to grant foreigners 50-year leases to Thai land, though the actual plot owners would still need to be Thai nationals.

 

Full story: http://www.khaosodenglish.com/politics/2017/03/24/govt-floats-long-term-land-leases-foreigners/

 

 

-- © Copyright Khaosod English 2017-03-24

[Raymonddiaz]

just another way to fool these bloody rich farangs!

[canopus1969]

Foreigners may be able to actually own land in Thailand – even if it’s just temporary.

 

What a stupid statement - they would not own the land     

[uchibenkei]

There are ways around land ownership laws.  I wouldn't bother with a lease.

[hansnl]

It might be a first step in the right direction.

So who knows?

[NCC1701A]

seeing how Farangs can lease land 100% legally for 30 years now, I don't really see how this will change things except for business owners who are very young and can see the future.

 

and you cannot legally own land in Thailand, no matter how any people tell you that you can.

 

 

[Mickmouse1]

Invest in LOS with Thai ownership of your property that can send u back home high n dry.

 

I would rather have/register  a company that owns the land ?

[eddie61]

I think it only a matter of time until this happens, I mean full ownership of a single property.

 

I think even the stupidest people learn, its just that the rest will be ahead of them when they get the message.

 

In this respect, Thailand will wake up when the retirement business in Malaysia Vietnam is booming, and they realise how much money can be made.

 

Who the hell wants to retire in a place where they can be kicked out of their house, their adopted country, on the whim of a public official, their wife, or their kids.

 

[Kasset Tak]

Why bother, you can already lease for 30 years and then extend for another 30 years. I have rented 5 rai from my friends for 30 years, it's all payed in full, 1 Baht per rai and year so 150Baht. That was just to make them happy at the land office when registering the lease... they didn't accept either 0Baht/year (free) or 1Baht/year (30Baht for 30 years) but when we said 1Baht per rai and year so totally 150 Baht then they thought that it was OK to stamp the lease?!

[JarekN]

Another try at keeping the bubble going... good luck with that

[Thailand]

Has the current 30 plus year lease ever been tested?

What happens if the Thai "land owner" dies?

[robblok]

4 minutes ago, Kasset Tak said:

Why bother, you can already lease for 30 years and then extend for another 30 years. I have rented 5 rai from my friends for 30 years, it's all payed in full, 1 Baht per rai and year so 150Baht. That was just to make them happy at the land office when registering the lease... they didn't accept either 0Baht/year (free) or 1Baht/year (30Baht for 30 years) but when we said 1Baht per rai and year so totally 150 Baht then they thought that it was OK to stamp the lease?!

The 50 year is more safe.. because its not sure the people you lease from will extend an other 30 years under the same terms. (unless good friends but even so a lot can happen in 30 years)

[ebean001]

i understand if a farang owns the building and a Thai owns the land and the Thai dies...The farang has 90days to 'sell' the building (or retitle it properly).

[lavender19]

With the amount of expat upping  sticks  and leaving this sinking ship of a country . They will need a bigger float than this

[griedarw]

16 minutes ago, Kasset Tak said:

Why bother, you can already lease for 30 years and then extend for another 30 years. I have rented 5 rai from my friends for 30 years, it's all payed in full, 1 Baht per rai and year so 150Baht. That was just to make them happy at the land office when registering the lease... they didn't accept either 0Baht/year (free) or 1Baht/year (30Baht for 30 years) but when we said 1Baht per rai and year so totally 150 Baht then they thought that it was OK to stamp the lease?!

Long term Back to back leases are not actually legal. You can definitely get them, lots of Farang have them (as you can see from some of the replies above).

However, should the Land Owner wish to be "difficult", the back to back lease can be challenged and revoked.

[spidermike007]

It actually sounds a bit like progress. Something that is kind of shocking. You just do not see much here, in the way of progressive ideas, especially under the little man. He is one of the least progressive minds on the planet. And that goes for his entire administration. One can only hope they listen to a voice of reason. 

 

I believe now, the only way a foreigner can own a 30 year lease on land, is through a nominee company, correct? 

[rijb]

How about a 50 year visa to go with it.  

[dotpoom]

32 minutes ago, canopus1969 said:

Foreigners may be able to actually own land in Thailand – even if it’s just temporary.

 

What a stupid statement - they would not own the land     

Get your point...myself though, I have some property in my name but I don't see it like  I own it, I see it like I have the use of it on a daily basis. When my time is up....someone else will have the use of it.

[bmore99]

Why bother. Usefruct gives you the legal use and benefits of the land for lifetime. Regardless any change in ownership.

Sent from my SM-A800F using Thaivisa Connect mobile app

[Rimbuman]

9 minutes ago, bmore99 said:

Why bother. Usefruct gives you the legal use and benefits of the land for lifetime. Regardless any change in ownership.

Sent from my SM-A800F using Thaivisa Connect mobile app
 

They can always kill you ;-)

[NCC1701A]

10 minutes ago, spidermike007 said:

I believe now, the only way a foreigner can own a 30 year lease on land, is through a nominee company, correct? 

no, you are confusing the illegal nominee "fake" company "method" with a simple 30 year land  lease.

 

 

 

 

[12DrinkMore]

14 minutes ago, spidermike007 said:

I believe now, the only way a foreigner can own a 30 year lease on land, is through a nominee company, correct? 

Incorrect.

 

You do not need a company.

[tpaul1]

All this legal stuff is irrelevant in a lot of ways. If you cross the wrong person here or you being alive is the only thing between, say a relative of the original owner who has since passed away and a nice bit of property so they never have to work again, then an usefruct is just putting a big round target on your back. Iearnt a long time ago, the more you make things secure in a legal contract here, the more you are likely to have an unfortunate surprise. We are all here by virtue of a visa, not access to the land itself remember. Also with the Pattaya expat flying club membership souring etc, it is a dangerous game to play.  A wise balance between a prudent contract and knowing when it is best to bail is the best advise I can give. Outright ownership is really the only way that inlaws  or relatives of the owner etc maybe will not look on your property with envious eyes and then only maybe!

Edited March 24, 2017 by tpaul1

[12DrinkMore]

12 minutes ago, bmore99 said:

Why bother. Usefruct gives you the legal use and benefits of the land for lifetime. Regardless any change in ownership.

Sent from my SM-A800F using Thaivisa Connect mobile app
 

How does it work if you want to sell?

[12DrinkMore]

19 minutes ago, lavender19 said:

With the amount of expat upping  sticks  and leaving this sinking ship of a country . They will need a bigger float than this

 

If they are heading back to the UK or Europe they are in for a disappointment.

[al007]

13 minutes ago, bmore99 said:

Why bother. Usefruct gives you the legal use and benefits of the land for lifetime. Regardless any change in ownership.

Sent from my SM-A800F using Thaivisa Connect mobile app
 

So as I like thinking out side the box, do usufruct in name of UK grandson, gives maybe 70 yrs use !!, and definately screws up anyone trying to sell so long as properly registered

[AGareth2]

52 minutes ago, uchibenkei said:

There are ways around land ownership laws.  I wouldn't bother with a lease.

tell that to the two guys in phuket

[spermwhale]

I've heard the weak arguments that if land is available to foreigners then they will buy it all and thais won't be able to afford it. That's never the case and it won't happen. 

You can't take the land out of the country. 

Additionally, even if I could, I'd never buy a house here. I've seen homes sitting empty in my high-end mooban since I moved in there 13 years ago... the whole time with for sales signs on them. 

The only place where a home may increase in value is in and near the city center, but in the suburbs, it's a bad investment... not to mentioned the fact that homes here in Bangkok are always sinking and constructed so poorly you have to do major renovations on a regular basis. 

I had  a home in the US that was built in the 1950s and it was solid still when I sold it in 2003. That would never happen here. 

 

[NCC1701A]

25 minutes ago, bmore99 said:

Why bother. Usefruct gives you the legal use and benefits of the land for lifetime. Regardless any change in ownership.

Sent from my SM-A800F using Thaivisa Connect mobile app
 

ALWAY be worth more alive than dead in Thailand.

 

[wvavin]

At the end of the day, it is still a rental. End of the story.