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Proposed Permanent Residence for Thai Condo Purchases?

Transcript of the above video:

As the title of this video suggests, we are discussing the possibility of Permanent Residence for purchase of a Thai Condo.

A recent article from the Nation, that is, the article is titled: Long Stay Visas Proposed for Foreigners Who Buy 3 Million Baht Condos. Quoting directly: "Under current rules, foreigners must spend at least 10 million Baht on property to be eligible for a Residency Visa."  Now strictly speaking I am not trying to criticize the Nation. I understand the context in which they meant this but some people can misread this, where they see "Residency". It means it means a Non-Immigrant Visa so it is a standard Visa. It is an O Visa category Visa as far as I remember I think, yeah it is an O Visa categorized because it is in the miscellaneous category but it is Non-immigrant. It does not confer what people think of as Lawful Permanent Residence so an unfettered you know “forever” visa for lack of a better term. Quoting further from further in the article: "Those who bought condos for more than 10 million Baht would be granted Permanent Residency." and they go into detail in this. Specifically, they go into, and I urge those watching this video to go ahead and check out this article it is: Long Stay Visas Proposed for Foreigners Who Buy 3 Million Baht Condos. They go into this, this is all being proposed through the Ministry of Finance I believe and it is going up to presumably to Cabinet for approval but basically what they are looking to do is to try and spur the real estate market in Thailand. They are trying to hook on long stay Visa privileges associated with Thai Condo ownership and they are noting specifically in here Permanent Residence. That to me looks like the real deal Permanent Residence; Thai PR, the red book, the whole bit where you are considered a Lawful Permanent Resident in the Kingdom of Thailand.

Whether or not this will actually come to pass remains to be seen but we will keep you updated on this situation on this channel as the situation progresses.