The Thai government hopes that restricted rights for super-rich foreigners to own freehold land and property will reap a huge financial harvest.
It is unlikely that the Thai government’s proposals to encourage one million super-rich foreigners to seek Long Term Residency (LTR) will hit the bullseye. That’s according to investing gurus such as Global Partners who say that the much-proclaimed right to own freehold property is restricted and unclear. International Properties point out that the publicized benefits fall well short of offering citizenship which some competitor countries do offer under their CBI (Citizenship by Donation) programs.
Thailand’s interior ministry is keen to resurrect the measure (buried and exhumed several times in the past) to allow wealthy foreigners to own one rai (0.16 hectares) for residence if they invest at least 40 million baht. The idea is…
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