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

Login | Create Account | Search


Prayut: Foreign land ownership rules can change

Prayut: Foreign land ownership rules can change

BANGKOK: A new bill to allow eligible foreigners to hold land ownership in Thailand is being vetted by the Council of State and it can still be changed, Prime Minister Prayut Chan-o-cha said yesterday (Nov 1).

land
By Bangkok Post

Wednesday 2 November 2022, 11:06AM


Bidders attend an auction of residential units and land plots organised by the Government Housing Bank in Bangkok in 2020. Photo: Somchai Poomlard

Bidders attend an auction of residential units and land plots organised by the Government Housing Bank in Bangkok in 2020. Photo: Somchai Poomlard

The Bangkok Post reported that Gen Prayut had told reporters that the Council of State would gather opinions on the issue.

The government would be able to clarify all issues related to the scheme, he added.

In response to growing backlash over the proposal, Deputy Prime Minister and Public Health Minister Anutin Charnvirakul said on Tuesday that even if foreigners are permitted to buy and own land in the country, they still cannot take it back to their homeland.

People who are concerned should consider the benefits provided by the foreigners and study the details of the bill, Mr Anutin said.

Phuket Property

Under the bill, foreigners categorised under four specific groups would be able to apply for permission to buy up to 1 rai (roughly 0.4 acre) of land on the condition they invest at least 40 million baht each for at least years.

The Cabinet Tuesday last week (Oct 25) approved in principle the draft regulation of the Ministry of Interior, allowing four groups of foreign nationals ‒ wealthy global citizens, wealthy pensioners, people who want to work from Thailand, and highly skilled professionals or specialists ‒ to buy and own land for residences.

To qualify, they must invest at least B40 million in Thai property, securities or funds.

They are required to invest in real estate or infrastructure funds, real estate investment trusts, securities, or enterprises promoted by the Board of Investment. The scheme will become effective after publication in the Royal Gazette.

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 | 03 November 2022 - 10:27:51

Dek seems not to understand that for investing money in Thailand there is no need for a Thai opera rigging of a 1600 sg m land deal for that.

JohnC | 03 November 2022 - 10:08:16

[...they invest at least 40 million baht each for at least years.] Forget something ED?

Kurt | 03 November 2022 - 09:12:29

....." or enterprises promoted by the Board of Investment"...   And who have the upperhand in such Thai Boards? Which foreigner put his $1 million in hands of people who really not care of his investement? You can do nothing if it is your money 'gone with the wind' after 3 years. Creative bookkeeping is very skilled in Thailand. And all that gambling for just 1600 sq m ?

DeKaaskopp | 02 November 2022 - 23:39:16

Kurt,you don't seem to understand.This is about people who want to invest money and not about the average retiree living here on a meager pension ! So please don't feel personally addressed by that offer. 

Kurt | 02 November 2022 - 11:47:26

...Well, the ordinairy Thai has more to fear from Thai-Sino High So's when it comes to land price speculations/doings than from a foreigner who has a house and garden on 40 x 40 sq metres. This land owning attention is just a deviation attempt to protect rich Thai interests in a insular xenophobic way.

Kurt | 02 November 2022 - 11:38:42

What a waist of time that 'foreign ownership of nothing' thinking. 1 Rai =1600 sq m. = 40 x 40 metres. Who non Thai is crazy enough to bring in 40 million ( $1 million) he can't touch 3-5 years for that?  The whole thinking reflects only Thai obsessive, many times deadly, thinking about landownership. Opponents of foreign landowning say that it put Thai in a disadvantaged position. Wel...

 

Have a news tip-off? Click here

 

Phuket community
Officials still pushing for airport runway road to be finished

@Parb: road over Cahlong? AHAHAH Both way around the dam already collapsed!!!!...(Read More)


Phuket Opinion: Selling nightlife late closing short

Additionally, most countries stop serving alcohol at midnight or 1:00 and close the bars at 2. The ...(Read More)


Phuket Opinion: Selling nightlife late closing short

Pretty lame opinion this time PN (IMHO). You generally imply that the basis of their decision (incre...(Read More)


Officials still pushing for airport runway road to be finished

Capricornball, Chaikon Co Ltd can't be sacked. In the contract between Chaikon and top Phuket Of...(Read More)


Phuket Opinion: Selling nightlife late closing short

You refer to the committee as 'buffoons'? No one can ever answer my question about what make...(Read More)


Health ministry asks to wear masks in crowded places

Dr Opas must know very well that the present 'improved' Covid-19 can change overnight. See h...(Read More)


Health ministry asks to wear masks in crowded places

Dr Opas is very keen on having the Thai population receiving more vaccinations. Why he is not saying...(Read More)


Phuket Opinion: Selling nightlife late closing short

What we miss is that of all committees, National or just Phuketiën, none of them come out with reco...(Read More)


Phuket Opinion: Selling nightlife late closing short

1171 serious injuries cost the Thai B 3,514 Billion in economic losses. Wow! If the traffic police j...(Read More)