Transcript of the above video: 

As the title of this video suggests, we are discussing property rights here in Thailand. There has been a lot of recent discussion about the possibility of changing condo quota regulations as well as rules pertaining to voting in a condo context. For those who are unaware, here in Thailand foreign nationals are precluded from owning real estate in Thailand. Land, houses etc., well houses not necessarily as we have discussed in other videos, but land most assuredly. That said, notwithstanding the restrictions on foreign nationals to Thai property ownership, it is possible for a foreign national to own a condominium outright. They can have what's called Freehold Title what we call Fee Simple Absolute title in the Common Law vernacular and those people can own their condos outright. 

Now one of the provisions of the Thai Condominium Act is that any given condominium complex cannot go over 49% ownership by foreigners, so there's a quota. Now as we have discussed in other videos and will continue discussing moving forward, as this seems to be evolving in such a way that it looks like it may possibly come to fruition, the Thai Prime Minister has come out and said "hey we're going to explore the option of upping that foreign quota, going above 49% but voting rights associated with the condominium will not go up.” So that's what they have been talking about. 

Now there has been something of a backlash and that made me think of making this video when I was reading a recent article from the Bangkok Post, bangkokpost.com, the article is titled: Srettha denies 'selling off' the country. Quoting directly: "Prime Minister Srettha Thavisin on Tuesday dismissed claims by critics that a Government proposal to raise the foreign ownership quota in condominiums and offer longer land leases is tantamount to "selling off the nation". The thrust of this article goes in a different direction. They talk about he's apparently taking some political grief over all of this. I think it's rather unwarranted. All things considered, I do think we need to take a balanced approach, proceed cautiously but I don't see any reason why there is anything wrong with reviewing these condo quotas per se, just in their own right. I am not saying I necessarily agree with changing it at this stage but I think exploring it isn't a bad idea. That said, quoting further: "The Department of Lands is considering the pros and cons of the policy, said Interior Minister Anutin Charnvirakul. Mr. Anutin said the Government needed to stimulate the economy and the proposed changes would not favour capitalists. The rights of Thai people would be protected while the economy would get a lift, he added."

Yeah, you need to note that look here in Thailand it is an especially sensitive issue, the issue of foreign land ownership. So it's not really surprising that the Interior Minister would chime in on this because again it's one of those issues that Thais kind of get a little antsy about. I'll admit too, as a naturalized Thai it does bother me the notion of foreign nationals coming in here to Thailand and taking control, taking property of land here in the Kingdom. It's something to really watch because quite honestly, Thailand has dealt with issues of Colonialism, the Cold War; they frankly don't want to be overrun by foreigners. So I really do understand their underlying position, and it is interesting that the Interior Minister has become so involved and has commented on this issue.