Wealthy foreigners can own Thai land: cabinet

Update: The Thai cabinet on Nov. 8 backpedaled on its plan to allow wealthy foreigners to own land. 

Foreigners soon will be able to own land in Thailand, so long as they can prove they’re wealthy enough. 

The cabinet on Tuesday gave a green light to a proposal to allow foreign nationals to purchase up to a rai of land, on the condition they can show an eligible investment of at least THB40 million (US$1.05 million) in Thailand and maintain that investment for a minimum of three years.

The proposal, drafted by the Interior Ministry, will come into effect when it’s published in the Royal Gazette, according to government spokesperson Anucha Burapachaisri. 

Update: Thailand not for sale: Cabinet nixes land for rich foreigners

The scheme will run until 2026. After that, it will be reviewed, Anucha said. 

Thailand currently prohibit foreigners from owning land, except those married to Thai nationals who attest that the money invested in the land is that of the Thai spouse.

Photo: Tourism Authority of Thailand

The ministry proposed the plan to attract foreign investment. Just earlier this year, the cabinet gave a nod to 10-year visas for promising foreigners to target four eligible groups of foreign nationals: wealthy global citizens, wealthy pensioners, professionals working remotely from Thailand, and high-skilled professionals. 

The draft sets that activities that are considered as investments are:

• Bonds issued by the Thai government, Bank of Thailand, state enterprises and the Finance Ministry.

• Shares of property funds, infrastructure funds and funds to rehabilitate debts of financial institutions.

• Shares of trusts for investment in property developments.

• Shares of legal entities that receive Board of Investment, or BOI, privileges.

• Shares in businesses that are eligible for BOI privileges.

Related

Long-term visas for ‘high potential’ expats cut to 50K baht

10-year Thai visas for digital nomads, flush foreigners get cabinet OK

Subscribe to the WTF is Up in Southeast Asia + Hong Kong podcast to get our take on the top trending news and pop culture from the region every Thursday!

https://coconuts.co/wp-admin/edit.php?post_type=uaio_profile_badge



Reader Interactions

Leave A Reply


BECOME A COCO+ MEMBER

Support local news and join a community of like-minded
“Coconauts” across Southeast Asia and Hong Kong.

Join Now
Coconuts TV
Our latest and greatest original videos
Subscribe on

This Amsterdam-style coffee shop in Thonglor is a cool place to partake in herbal festivities, play games, and party

PRESENTED BY

MOST POPULAR