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Jenkins9039

Foreigners CAN own land - Putting an argument to rest.

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15 hours ago, Jenkins9039 said:

I trust this puts it to rest

no, it didn't.

see comments above

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14 hours ago, blackcab said:

You are entirely correct, and what you have mentioned is not new knowledge. Personally, I have not known anyone to actually achieve a Section 86 purchase.

 

This is mainly because the applicant needs to import the equivalent of 40 million baht of foreign currency into Thailand, and invest it in the specified manner. Only when this is done can the investor petition for specific written authorisation from the Minister of the Interior. Such permission is not a right, and is at the whim of the Minister. I have never known such permission to be granted, although it certainly could have happened.

 

The other main stumbling block is that Section 86 land cannot be disposed of to a non-Thai person. This means if a non-Thai citizen purchased such land, and then they died, there is no way of transferring the ownership to their non-Thai children (unless the children themselves imported the equivalent of 40 million baht and gained their own permission from the Minister of the Interior).

 

If you happen to be well connected and can count the Minister of the Interior as a personal friend, however, it's possible.

Do I remember wrongly or doesnt the amount needed used to be 10 mill Baht?

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Heck, I forgot to bring 40 million Baht in for investment when I bought my shack in Pattaya.

And to think I could have owned the land as well as the corrugated iron roof....lol.

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15 hours ago, Jenkins9039 said:

6.  if an alien, who is granted permission to acquire such land, does not comply with the rules and conditions specified, he/she shall disposes of such land in the portion of his/her possession within the period of time specified by the Director General of the Department of Lands which shall be not less than one hundred eighty days and not more than one year. If the time limit elapses, the Director General shall have the power to dispose of such land;

Actually an interesting theoretical problem:

Will the foreigner, after having deposited / invested the required funds in Thailand and having complied with the other requirements and having paid for the land get a Chanote with his name on it ?
If so, will there be encumbrances documented on the Chanote and what are these ?

Maybe a courageous TV member with lots of time on hand enquires at the land office ? 😉

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The 40 million for 1 rai makes it not worth owning.. 

My Mrs has no papers for the land she occupies our land we live on is a lease area, papers for land has been and ongoing wait. 

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15 hours ago, puchooay said:

Old news. Common knowledge.

Yes.

 

It is based on foreign embassies, so that they can own the land it sits on. 

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16 hours ago, blackcab said:

You are entirely correct, and what you have mentioned is not new knowledge. Personally, I have not known anyone to actually achieve a Section 86 purchase.

 

This is mainly because the applicant needs to import the equivalent of 40 million baht of foreign currency into Thailand, and invest it in the specified manner. Only when this is done can the investor petition for specific written authorisation from the Minister of the Interior. Such permission is not a right, and is at the whim of the Minister. I have never known such permission to be granted, although it certainly could have happened.

 

The other main stumbling block is that Section 86 land cannot be disposed of to a non-Thai person. This means if a non-Thai citizen purchased such land, and then they died, there is no way of transferring the ownership to their non-Thai children (unless the children themselves imported the equivalent of 40 million baht and gained their own permission from the Minister of the Interior).

 

If you happen to be well connected and can count the Minister of the Interior as a personal friend, however, it's possible.

Very nicely replied to, thank you

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1 hour ago, KKr said:

Actually an interesting theoretical problem:

Will the foreigner, after having deposited / invested the required funds in Thailand and having complied with the other requirements and having paid for the land get a Chanote with his name on it ?
If so, will there be encumbrances documented on the Chanote and what are these ?

Maybe a courageous TV member with lots of time on hand enquires at the land office ? 😉

And the reply is the truth and nothing but the truth......

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If you make the hurdle, or series of hurdles, impossibly high to jump or the inclination to do it so unattractive and restrictive then no one is going to try. Cannot see any benefit at all.

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Only' if I had so much money......I certainly wouldn't be investing 40,000,000 baht in Thailand for the privilege of being able to purchase land in Thailand.

 

Property prices in Thailand don't really increase as well as other countries from what I hear, although I have heard that some TVF members wives or girlfriends have made 100% when they divorced or split up, sad, but a reality when land is not in the farangs name, that said, we all know not to buy property in Thailand unless it's in our name only, and of course with exceptions like mine, i.e. the 10% invested from my worth to build our (her) castle is hers for keeps, as I stuck the script, "from the script" only invest as much as your prepared to lose, so no sour grapes here if the marriage ever went south.

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40 million baht investment, not many foreigners have that type of money. In addition, he needs additional money to buy house and living expenses.

 

 

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