333 at the beach British International School, Phuket Pro Property Partners
The Phuket News Novosti Phuket Khao Phuket

Login | Create Account | Search


Foreign land ownership bill causes a stir

BANGKOK: The government is listening to every concern about the proposal to allow foreigners to hold land ownership of up to one rai for residential purposes, Deputy Prime Minister Wissanu Krea-Ngam said yesterday (Oct 31).

land
By Bangkok Post

Tuesday 1 November 2022, 11:14AM


A sign advertising land for sale in the Phahon Yothin area of Bangkok. Photo: File

A sign advertising land for sale in the Phahon Yothin area of Bangkok. Photo: File

He was responding to criticism triggered by the Cabinet’s recent approval of the Interior Ministry’s bill to alter the laws governing land ownership by foreigners, which is aimed at attracting foreign investment to fuel the economy.

Under the proposal, four specific groups of foreigners can apply to buy up to 1 rai of land on the condition they invest at least B40 million each for at least three years.

However, critics slammed the move, saying it would discriminate against locals. Some also accused the government of “selling off” the country to foreigners, reports the Bangkok Post.

Wissanu said foreign ownership of property has always been a controversial issue and the government is open to recommendations such as more restrictions involving the resale and purchase of adjacent plots to close any possible loopholes.

He said the bill is an upgrade of a ministerial regulation introduced in 2002 and is being reviewed by the Council of State, the government’s legal arm.

“Whenever the issue comes up, it stirs a debate. When it was raised during the Chatichai administration, it failed. The regulation was successfully pushed during the Thaksin administration, but there were few buyers,” he said.

“So we want to reduce the number of conditions to attract investors. However, it is yet to take effect and is still being examined by the Council of State.

Asked if the government would back down if there was strong public resistance, Wissanu said the government would deliberate on the issue.

Pakorn Nilprapunt, secretary-general of the Office of the Council of State, used his Facebook yesterday to clarify some details and reject criticism it would discriminate against locals.

He said limited ownership with some conditions attached including required investment is reasonable and it is unlikely to deprive Thais of land, which is more often caused by property hoarding by wealthy Thai landlords.

“We need to figure out how to introduce a law to better allocate land to narrow inequality. It is there in the charter, and it is something we should do,” he said.

Pakorn said claims of “selling off” the country arise whenever an election approaches or a bill giving land purchasing rights to foreigners is raised.

Meanwhile, Mongkolkit Suksintharanon, leader of the Thai Civilized Party, asked the Office of Ombudsman to forward the bill to the Constitutional Court for a ruling. Political activists Jatuporn Prompan and Nitithorn Lamlua also lodged a petition demanding the bill be shelved, adding they would ask the National Anti-Corruption Commission to investigate.

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

* (Not Hotmail/Outlook)
CAPTCHA

Kurt | 02 November 2022 - 11:14:56

Forget that idiot B40million ínvestment'. Just rent a pool villa for monthly 30-40,000thb. Put your B40Million in a 3 year safe (not in Thailand) investment plan/safety account and after 3 years you calculated that your 3 year rental was actually easily earned back your rental that way. Remember, money bringing in here is easy, getting it out of Thailand's claws is a hell of a job.

JohnC | 02 November 2022 - 08:48:12

Always double standards. Any Thai person can buy land very easily in my home country, plus many others around the world. You dont have to be rich or connected or lease it, buy freehold for life. And not restricted to just a small plot either.

 

Have a news tip-off? Click here

 

Phuket community
Phuket Opinion: Putting Phuket on show

The proposal says: The city is also renowned for its word-class wellness and medical tourism, and is...(Read More)


Koh Siray targetted over deluge of trash

Timothy, please do not exaggerate. I am only Medium-so. ...(Read More)


‘Lessons learned’ from airport chaos

Timothy I’m not aware that Kurt missed any flight. And I think he might take offense to you referr...(Read More)


Over 3000 flights to land in Phuket in December as tourism rebounds

Yesterday is always forgotten. Period. And what they learn today they forget tomorrow as well. As si...(Read More)


Phuket Opinion: Putting Phuket on show

Not even able to keep the most crucial Phuket key roads in sustainable condition, as we all over Phu...(Read More)


Phuket Opinion: Putting Phuket on show

"Presentation solely focussed on 'glorified' benefits of sustainability, harmony, prosp...(Read More)


‘Lessons learned’ from airport chaos

ematt, I'm sure you would have been unhappy about this too if you missed your international conn...(Read More)


Over 3000 flights to land in Phuket in December as tourism rebounds

Anyway, the number of Phuket flight arrivals/departures are spiking. And just during that period of ...(Read More)


Koh Siray targetted over deluge of trash

Oh Ematt....that is a very funny comment, coming from you. On many occasions you have called people ...(Read More)


Tourists urged to contact police in case of Phuket taxi deviations

Fascinated, yes, you have a point. However, tourists have not always any idea of Phuket topograhy, b...(Read More)