Thailand Will Soon Allow Wealthy Foreigners to Own Land in Bangkok, Pattaya
Wealthy foreigners may soon buy property for housing in Thailand. According to a report by Bangkok Post, the move is part of the Thai government’s bid to boost its economy. Endorsed by spokesman Anucha Buraoachaisri, the latest programme targets foreigners to own as much as one rai (0.4 acres) of land in Bangkok and Pattaya only.
Eligible to apply are top professionals, digital nomads, high-net-worth individuals, and retirees who wish to reside in the Land of Smiles. Applicants must invest at least 40 million baht for three years. Anucha said the proposal will be forwarded to government agencies for final approval.
Last September, Thailand launched its 10-year visa programme for foreign nationals to increase tourist arrivals and economic growth. Benefits include multiple re-entry permit, fast-track service at airports, and permission to work in Thailand, among others.
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