Real estate

New regulation allowing foreigners to buy land withdrawn: Anupong


INTERIOR Minister Anupong Paochinda this morning (Nov. 8) said before attending a Cabinet meeting that a draft ministerial regulation allowing four categories of foreigners to buy maximum one rai of land for residential purposes is being withdrawn to study this sensitive issue again, Matichon newspaper said.

When asked whether the draft will be resubmitted to the Cabinet for approval after the new study is completed, Gen. Anupong said he did not know but the ministry had to examine this issue again to work out the good and bad effects it would have on the economy and the society.

Asked whether the draft regulation is restudied because of social pressure, Anupong said he had told the Parliament and the press that this is a sensitive issue and the pros and cons had to be worked out again.

The Cabinet greenlighted a draft ministerial regulation on 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.

This ministerial regulation designates 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.


Top: Bangkok by night. Photo: Alexsandr Zykov (CC-BY-SA-2.0)

Front Page: Interior Minister Anupong Paochinda. Photo: Matichon

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