Transcript of the above video:

As the title of this video suggests, we are discussing "Could foreigners soon be able to buy land in Thailand?" The question is being posed because I have had a lot of correspondence about this; a lot of people are asking me about this; there have been a lot of articles out there talking about some things that are coming from certain Thai Government circles on this topic. 

So to start with, this is from Thai Visa, thaivisa.com, the article is titled: TAT Proposes Attracting a MILLION Foreigners, Work With No Work Permit, Right to Buy Land - TEN Year Stay. Quoting directly: "Thai Business Media has reported on one of the biggest shake-ups yet to attract foreigners to come to Thailand. The proposal is given by the Tourism Authority of Thailand," (that is notable, I will get to that in a moment) during video conference with Thai Premiere Prayuth Chan-o-cha at Government House yesterday would see four target groups be able to work in Thailand without a Work Permit; pay just 17% tax on local earnings; buy property and land and stay for up to 10 years." Then quoting further: "The proposals would allow certain well-healed retirees to actually be able to work legally in Thailand and purchase land." 

Okay, let's start with the premise that these are proposals. It is also notable that they were brought up by the TAT, Tourism Authority of Thailand. Nothing wrong with those folks, however note they are not the Ministry of Interior which should be noted from the get go because Ministry of Interior is tasked with dealing with issues associated with Thai land ownership. Moreover and moving over to another publication, this comes from again, thaivisa.com, the article is titled: Working group to Review Plans to Allow Foreigners in Thailand to Buy Land and Work Without Work Permits. Quoting directly: "The plans are being discussed by a working party headed by Mom Luang Chayothit Kridakorn, a Ministerial aid to DPM Suppatanopong Punmeechaow. Bangkok Business News reported that the working group will have 6 months to iron out details of the proposals." Quoting further: "All the above groups would be granted (and there are various retirees, digital nomads, VIPs, this kind of thing) all the above groups would be granted a number of benefits from moving to Thailand including Visa validity for 10 years; permission to work without a Work Permit; personal income tax charged on income in Thailand at a flat rate of 17%; and the right of ownership/long-term lease of Real Estate including land." (So again now it is right of ownership/long-term lease). Quoting further, this is from Pattaya Mail, that is pattayamail.com, the article is titled: Plans to Lure the Ultra Rich with Relaxed Immigration Rules Still Bogged Down. Quoting directly: "The Thai Government's ad hoc committee to consider the future of Thai Tourism yesterday presented a preliminary report to the Center for Economic Situation Administration (CESA). Quoting further: "The general premise is that mass tourism isn't coming back any time soon and that Thailand must seek to attract the world's richest business people, investors and retirees with tax and immigration bonuses. For example high-end retirees would qualify for a 10-year Visa; be allowed to buy property on selected estates; work 20 hours a week without a work permit and pay just 17% on local tax from local earnings but the qualifications are steep. (and this is key) An annual income of at least $40,000 plus investment capital e.g. Government Bonds to the tune of $250,000." So I have seen this in a lot of other publications. This $250,000 in Bonds seems to be a pretty major thing associated with investment. 

The further one I wanted to go ahead and quote is from thaivisa.com, the article is entitled: Easing Restrictions on Foreign Property Ownership a Good Idea says Leading Industry Figure. Again thaivisa.com. Quoting directly: "Mr. Pornnarit and I believe that is the head of the Real Estate Agents Association said that the rules governing foreigners and land ownership in Thailand are part of the law and any change would need to be approved by the House of Representatives. The Law simply can't be changed following a proposal from the Tourism Authority and that there are many stages before a law can be amended." I can't say it much better than that. That is very well put. Yes, as noted previously in this video the Tourism Authority of Thailand is what it is. Their job is to promote tourism in Thailand. They do not promulgate law with respect to land ownership. I think that their intentions are laudable. They are trying to encourage tourism to Thailand; encourage tourists coming here but as noted, to change the law regarding the foreign ownership of land exclusion, the restriction on foreign ownership of land, you would have to see a law promulgated through the Parliament here in Thailand and I don't think that is probably going to be easily done. It is not impossible that it might happen but I would say the odds against it are quite high. 

So at least for now, I suspect we are probably not going to see major changes to the laws and rules regarding foreign land ownership here in the Kingdom of Thailand.