Govt floats long-term land leases for foreigners

[Destiny1990]

How about allow foreigners to own a single land plot of max one rai and house freehold in their own name but with the minimum value of 3,500,000 in total.this way no conflict with thais who still want to buy lower priced land and houses as these prices will not go up.Now they would totaly opening up for foreigners investing in land and house starting investing from up 3,5 m  Bht.It would push the market completely.

[dinsdale]

“Thai people are strange. When they send their children to study abroad, they buy houses for their kids,” Atip said. “But when foreigners come here, invest here and give their money to us, we don’t let them have their own homes. This is selfish thinking.”

This has to be one of the best quotes I've ever seen. Hope this intelligence spreads but something tells me.......oh well guess we have to put up with the same corrupt idiots. What a shame for Thailand. 

[oldlakey]

7 minutes ago, Destiny1990 said:

How about allow foreigners to own a single land plot of max one rai and house freehold in their own name but with the minimum value of 3,500,000 in total.this way no conflict with thais who still want to buy lower priced land and houses as these prices will not go up.Now they would totaly opening up for foreigners investing in land and house starting investing from up 3,5 m  Bht.It would push the market completely.

Why cant people like you understand a simple fact of life, concerning Thailand, Land ownership and Foreigners

Its got nothing to do with anything other than they dont want you to own land, END OF 

[aslimversgwm]

5 hours ago, Mickmouse1 said:

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 ?

Quite untrue. Farang can own property but not the land. 3 different ways to do this legally: 

1. A condo if < 50% of whole condo block in farang hands. 

2. Have a  usufruct in farang name for a house and have it annotated on the title deeds of the land.

3. A 30 year lease on the property in the farang's name renewable for Up to 60 years. 

Bogus company ownership is illegal. 

[Destiny1990]

9 minutes ago, oldlakey said:

Why cant people like you understand a simple fact of life, concerning Thailand, Land ownership and Foreigners

Its got nothing to do with anything other than they dont want you to own land, END OF 

Stop trolling me thanks.or read the article first!

[Naam]

6 minutes ago, aslimversgwm said:

A 30 year lease on the property in the farang's name renewable for Up to 60 years. 

incorrect information! no lease longer than 30 years is entered in the chanote.

[louse1953]

4 hours ago, al007 said:

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

No,get back in the box.

[oldlakey]

10 minutes ago, Destiny1990 said:

Stop trolling me thanks.or read the article first!

Long term land LEASES, unless I am mistaken

 They are actually offering genuine LAND ownership to all and sundry, as long as they are Thai citizens, no change there then 5555555

Perhaps its in your destiny though who knows

 

[Dumbastheycome]

1 hour ago, Naam said:

for the record: no natural person owns anything forever. like it or not... any ownership ends with death.

In one sense true. But with  recognized  ownership  it  can be  passed  along  to  kin. Otherwise I should walk naked in  defiance  ! 

[Dumbastheycome]

4 minutes ago, Paruk said:

Recognised ownership? By who? And what if they just change their mind about that recognition somewhere in the future? It's easy to have a parliament circus to do some nice democratic mumbo jumbo to make the masses believe it is all legitimate "laws" that the masses have to obey to. Tomorrow some other parliament circus does some other mumbo jumbo and everything is again changed.

 

How can any intelligent mortal being on this planet ever come to the conclusion that he/she can own something? There you stand with your title deed in your hand, telling the guy with a gun to your head that you own the land. Boom..... and that is the end of your story of recognition and passing on to your next of kin.

My  comment  is  based  on  a situation  of  legitimate  recognition of  ownership unspecific to   country  or  regime. I  have only once had a gun held  to my head  and it was  not   about  property .

[timewilltell]

People need to realise that leases are very unreliable.  There is a huge property scam run my money lenders and unscrupulous lawyers who assist them in asset stripping foreigners.  The issue is the nonsense controls on transfer of land which can be done by a simple power of attorney given to any Tom, Dick or Harry and witnessed by any other two witnesses (who may be fake as there is no check).  There is no notorisation required on a Power of Attorney used at a land office either.

 

The scam works by cancelling the lease and transferring the property to the money lender.  I know of at least 5 people this has happened to and that is without really thinking - so there are probably many more.  The transfer is not a simple sale - that leads to possible problems for receiving stolen goods.  Instead the transfer is by Sale with Right of Redemption which is like pawning the property and with interest payable at a very high rate - typically 36% to 48% per year.  Also the transfer fees and vastly inflated redemption amount are quoted on the land office document signed by the transferor (person you had the lease with).  They don't care what the figures show - only the amount they get because the property is either not theirs to transfer if holding as agent or has no sale value because of the term that was existing on the lease.  This avoids the receiving stolen goods issue and the court will say they bought cheap because they have to as money lenders.  The money lender will lie about any knowledge of the lease cancellation being fraudulent and the court will accept - we all know why but I can;t say here.  You will be threatened but again there will be no evidence as the money lender will ensure there are no witnesses and the court will simply dismiss the threats as untrue even if you run away and leave the area immediately.  These people know exactly how to get around the law - insist illegal interest is rent and a dozen other little twists.  They are hyenas.

 

If you choose to fight you will go through five years plus of court proceedings, dragged endlessly on and at huge cost as you have moved away in fear of your life.  The money lenders lawyer will adjourn endlessly to ensure it costs you as much as possible and probably sue you back criminally on any trumped up charge.  You will be dragged through to the supreme court dispossesed of your property and forced to rent another while you buy Air Asia on your frequent trips back.  If you expect any help from anyone you will find them jumping on your misfortune, misadvising you. complicit in yet more deceit, screwing you for useless claims that really can;t win and if not that then just sheer incompetence at a scale that you cannot imagine or several million baht bill from top notch lawyers who charge New York rates and even then are not that good.  In the end it will all be up to the judge who will be likely persuaded to side with his countrymen over a foreigner because there is no sure law here due to lack of precedent.  50 years or 30 years matters nothing.  It is all a scam unless you are lucky.

 

Invest somewhere that does not treat you with contempt.

[HerbalEd]

6 hours ago, Raymonddiaz said:

just another way to fool these bloody rich farangs!

What, exactly, makes them "bloody"? 

[RocketDog]

Some interesting ideas here,  both positive and negative. 20 years if guaranteed use would be good enough for me at this point  

Where can I get should info on the actual statutes/laws as they stand now?

 

See  a Thai lawyer?

 

I want to know my options and am assuming my retirement extension endures.

Next steps, more advice please!

 

 

[oldlakey]

11 minutes ago, RocketDog said:

Some interesting ideas here,  both positive and negative. 20 years if guaranteed use would be good enough for me at this point  

Where can I get should info on the actual statutes/laws as they stand now?

 

See  a Thai lawyer?

 

I want to know my options and am assuming my retirement extension endures.

Next steps, more advice please!

 

 

One step at a time would be my advice

[tomacht8]

2 hours ago, Jonathan Fairfield said:

The ministry is also looking at a "windfall" tax on landlords and property owners, who benefit from rising prices driven by government infrastructure developments, Apisak said.

 

Sorry dear minister.
That is not allways true,
I know a lot of cases were the government do nothing to improve the infrastructure.
Even after a flood disaster, the authorities do nothing to repair roads or provide relief funds.
The residents are often left to themselves and repair in self-government.
I do not see that in these cases a tax is justified.

[tomacht8]

1 hour ago, mrmicbkktxl said:

What's the point of leasing a property for 30 or 50 or 100 years if your visa has only 1 year validity????They changing the rules whenever they want to,and most of the time those changes are not in favor of the foreigner.As long they don't issue long term visa I would not sign a contract longer than 1 year.

I think they had here an investment visa 10-15 yrs ago[buy a condo for 3million up and get a visa and extension guaranteed]but stopped that after enough foreigner bought condos.

Agree.
The constantly changing rules of immigration policy
Insecure many potential investors.

[tomacht8]

11 minutes ago, Paruk said:

No tax is ever justified, except in the case one believes the BS stories that TRY to justify them. If you believe it and pay, you're just being sucked by a parasite!

Agree with you in general.
We must pay also taxes for advertising.
All our advertising signs are on our private land
The government has not helped us with one baht.
But they are taxing us for our advertising signs, which standing on our private ground.
TiT.

Edited March 24, 2017 by tomacht8

[Moonmoon]

Nothing is safe or secure for sure. What if the next government comes along n changes all the laws? 

 

I own 2 retail shops in Thailand. Just last week the GM of the shopping mall told me i have to move my shop (i m in prime location) to another location in the mall becos he had consulted a fengshui master n my shop was blocking all the flow of the riches of the whole shopping mall. So he had to remove my whole shop and change me to another location (very quiet spot) in the mall. 

 

The reason was less n less shoppers r coming out to shop. 

My shop retails cosmetic n beauty and have been doing well becos we have been getting the brands n marketing and advertising our shop on social media.

 

So the GM thinks its becos of bad fengshui n not bad marketing that his mall is nit doing well.

 

Quite stressed out last week.

[tomacht8]

15 minutes ago, Moonmoon said:

Nothing is safe or secure for sure. What if the next government comes along n changes all the laws? 

 

I own 2 retail shops in Thailand. Just last week the GM of the shopping mall told me i have to move my shop (i m in prime location) to another location in the mall becos he had consulted a fengshui master n my shop was blocking all the flow of the riches of the whole shopping mall. So he had to remove my whole shop and change me to another location (very quiet spot) in the mall. 

 

The reason was less n less shoppers r coming out to shop. 

My shop retails cosmetic n beauty and have been doing well becos we have been getting the brands n marketing and advertising our shop on social media.

 

So the GM thinks its becos of bad fengshui n not bad marketing that his mall is nit doing well.

 

Quite stressed out last week.

Sorry to read this.
If you have a clear contract, the GM can not revise you so easily.
In your contract, there must be at least notice periods.
Or you rent only from month to month?

[timewilltell]

35 minutes ago, Paruk said:

Good story! Just be always aware that if lawyers, insurance companies, banks, advisors/consultants, brokers or other inbetweenies, and/or government are involved, chances are 100% you're going to be a victim of some sort of scam (i.e. it is going to cost you money that you could have used for better purposes) to transfer your money into their pockets.

Sadly it is non-fiction!

[tomacht8]

8 minutes ago, Paruk said:

Not only TiT, everywhere the same.

 

How to spot a parasite of society? Easy, look if they add value and if not, it is a parasite. Example?

 

Open a savings account with a bank and get 0.5% to maybe 1.5% interest a year. 25% of that goes first to the ....yes....taxes. The remaining amount is not even remotely enough to cover inflation. Was there any value added for you in this whole scheme? No, you lost value. The lost value is now in the pocket of the bank and the government. For them there is added value, not for you. So, how smart are you to trust your money to a bank?

Approval.
Those who spend their money on a savings account with these low interest rates are not properly informed.
Whenever the inflation rate is above the interest rate, classic saving makes no sense.

But with advertising standing on your private ground, it is not everywhere the same.
Next time they want tax if your park your car on your private ground.
Could be advertising.
Hey he has a Range Rover, let us tax him .

Edited March 24, 2017 by tomacht8

[pbeieio]

50 years??

I would not trust ANY Thai government to for 50 mins before the policy gets "adjusted"!!!  

[Destiny1990]

3 hours ago, Paruk said:

Bad idea, have any other?

Why?

[Destiny1990]

The housing market now is pretty flat since a long time .most foreigners stopped buying land and house and if bought them thrn they keep them for a very long time decades .but if can own a small landplot with house foreign investment come and people start buy live in it some years later sell it .so then much more times changes of ownership for the same house imagine how this will boost tax revenues from the landoffice for Thailand.

[Kiwiken]

Is it not about time Our own Countries banned Foreign ownership. I believe the Asian Countries are right. Personally if you are not a Citizen or permanent Resident you should not be able to own land.50 year leases are fair enough but Land titles on leased land should be held in the Public office.

[ukrules]

2 minutes ago, Kiwiken said:

Is it not about time Our own Countries banned Foreign ownership. I believe the Asian Countries are right. Personally if you are not a Citizen or permanent Resident you should not be able to own land.50 year leases are fair enough but Land titles on leased land should be held in the Public office.

 

I don't think our own countries should ban foreign ownership outright. I very strongly believe that we should match the rules in the foreign country.

 

If I was in charge of the UK I would ban all Thai citizens from owning any land and force sale of existing holdings and I would do this purely based on the fact that the Thais have done this to 'us' for so long.

 

This can't happen while the UK is in Europe....

[bkkrooftop]

10 hours 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

chinese are substituting the farang at an alarming rate.  i really do not think they care. 

 

I love this country but its hard to find trust here and investment here is possibly the dumbest thing anyone could do at any capacity. 

[pattayadgw]

If you lease a plot... build a nice bungalow... owner decides that would be nice to rent out... tears up your lease... kicks you out.... you take it to court.... after 3 - 5 years in court you run out of money due to payments to lawyers etc etc.... where do you stand?? empty handed with empty pockets.... nuff said!!

[ukrules]

6 minutes ago, pattayadgw said:

If you lease a plot... build a nice bungalow... owner decides that would be nice to rent out... tears up your lease... kicks you out.... you take it to court.... after 3 - 5 years in court you run out of money due to payments to lawyers etc etc.... where do you stand?? empty handed with empty pockets.... nuff said!!

 

I'm thinking it's going to be more along the lines of an usufruct than a lease. Something that's registered with the government and serves as a kind of title deed. Regardless of this - it will eventually return to the masters of the land mass which we call Thailand - the Thais.

 

Not good enough by far.

 

[Johnboxer]

11 hours ago, NCC1701A said:

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

 

 

 

 

I had a buyer for my house freehold (company) on the Monday, on the Thursday the money was in MY Bank account, all done and dusted in 4 days