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Freehold Foreign Land Title a No-Go in Thailand?

Transcript of the above video:

As the title this video suggests, we are discussing freehold foreign land title. We did another video recently where we were discussing freehold foreign land title and what we are talking about here is foreign nationals actually able to take legal title to real estate, land in Thailand. 

There has been a lot of discussion on this as the Cabinet, again in principle, has approved some visa categories, or some proposed visa categories for high net worth individuals, high net worth expats in an effort to attract those folks. Part and parcel of this was discussion on certain perks associated with real estate in Thailand with speculation abounding that it may be possible for foreign nationals to take legal title, take title deeds, Chanote title to real estate, land in Thailand. Now it was discussed and has been discussed in a very narrow context insofar as it has been discussed as only being possible for example it was discussed in a Moo Baan; a subdivision where you have a house and a small plot of land. For those unaware, condos are currently allowed under Thai Law for foreign freehold title so foreigners can hold Thai condos in freehold title but we are talking about land here.

A recent article from Thai PBS World, that is, the article is titled: Restrictions on Foreign Residents' Land Ownership in Thailand to Remain. Quoting directly: "Long-staying foreigners can own at most 49% of a condominium building and cannot own land in Thailand but can rent land on a long-term basis under a special law such as the Thai Investment Law for investing in the Eastern Economic Corridor (EEC) mega-project said Deputy Government Spokesperson Ms. Traisuree Traisoranakul today (Monday)." Quoting further: "Noting that the Cabinet's decision needs to be clarified, she said that the basic principle that foreigners cannot own land in the Kingdom remains unchanged. Foreigners can own only 49% of a condominium building or 49% of the entire room space of the building while the remaining 51% must be owned by Thai Nationals." Quoting further: "She added however that foreigners can rent land in Thailand long term but they must comply with special laws such as the EEC law." 

So I think that provides a great deal more clarification on this overall topic. Now I know there is probably a great deal of disappointment out there. As discussed in other videos on this channel, it has been my thinking that it really was not going to be, when it was discussed it seemed to be discussed at the "higher level" visa categories that required substantial investment in Thailand to even be considered for the possibility of some of these special real estate perks if you will. So while I definitely think for some this is going to be a downer, I didn't view it as entirely unexpected exactly.

Now that said, it remains to be seen exactly how this is going to be hammered out. We have had other videos on this channel where we have discussed that has been ongoing at policy level discussion of increased leases up to 50 years. There has been even some discussion with respect to taking leases out to over 90 years to like 99-year leases. Now again, those are leases and ultimately they do come to an end but they do provide substantially more time on a given parcel of land presumably than do 30-year leases here in Thailand.