JOINING THE chorus of criticism on the government having approved in principle the drafting of a ministerial regulation allowing foreigners to buy maximum one rai of land for residential purposes conditional on investing at least 40 million baht for minimum three years is Prime Minister Prayut Chan-o-cha’s staunch supporter Pareena Kraikupt, Naewna newspaper said today (Oct. 29).
Pareena. who was earlier this year deprived by court of her MP status and banned for life from politics due to deliberate encroachment upon a forest reserve in Ratchaburi, posted a message saying that people do not want to exchange land in Thailand for foreign investment.
“Sacrifice money to spur the economy, sacrifice even life to protect land in Thailand for our children and grandchildren similar to what our ancestors did,” she wrote.
“In the future even though our children live in Thailand, it is in terms of… renting… with the village group headmen and the village headmen being foreigners.
“The Prime Minister is urged to listen to the voice of the people. From the salim heart of Pareena (Salim a Thai slang referring to people who are sceptics of democracy and support the military’s involvement in politics) who has been a FC (fan club) of Gen. Prayut all her life,” she added.
The Cabinet greenlighted a draft ministerial regulation on Tuesday (Oct. 25) that will enable foreigners to buy a maximum of one rai of land in Thailand. One of the conditions includes an investment value of at least 40 million baht that must be retained for three years, NNT said.
The ministerial regulation opens the door for a greater range of investment options for foreigners and can be revised every five years.
Prime Minister’s Office Spokesperson Anucha Burapachaisri elaborated on the Cabinet’s approval, in principle, of the drafting of a ministerial regulation on foreign ownership of residential land. The approval was made with regard to the measure calling for economic and investment stimulation by attracting high-potential foreigners to Thailand. The Cabinet approval opens the door for a greater range of investment options for foreigners. The ministerial regulation will be in effect for five years after its announcement in the Government Gazette.
Anucha said the draft regulation will designate four types of high-potential aliens who will be able to acquire land in Thailand for residential purposes.
The four categories include high-wealth persons, retirees, individuals who intend to work from Thailand, and specialists who possess certain skills. The amount of land that may be acquired shall be no more than one rai (1,600 square metres). The land must only be used for self-residency and must be located within Bangkok, Pattaya, municipalities, or other suitable areas as stipulated by the urban planning law. The alien acquiring land must invest no less than 40 million baht in a business or enterprise and retain the investment for at least three years.
The spokesman said the prime minister has affirmed the ministerial regulation can be revised every five years to accommodate the circumstances at the time. The Ministry of Interior will now submit the draft regulation to the Office of the Council of State for consideration.
Former MP Pareena Kraikupt hugging Prime Minister Prayut Chan-o-cha in above photo, and right in Front Page photo with Gen. Prayut at left. Top photo: Matichon Weekly, Front Page photo: Thai Rath