






{"id":23709,"date":"2021-06-09T12:12:07","date_gmt":"2021-06-09T05:12:07","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=23709"},"modified":"2025-02-06T11:45:20","modified_gmt":"2025-02-06T04:45:20","slug":"foreigners-owning-property-in-thailand-may-soon-get-10-year-visas-pending-government-approval","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/foreigners-owning-property-in-thailand-may-soon-get-10-year-visas-pending-government-approval\/","title":{"rendered":"Foreigners owning property in Thailand may soon get 10-year visas, pending government approval"},"content":{"rendered":"<p><span class=\"NormalTextRun BCX0 SCXW196985944\">The proposal\u00a0<\/span><span class=\"NormalTextRun BCX0 SCXW196985944\">would be a major victory for property developers since foreigners can only own condos now<\/span><\/p>\n<figure id=\"attachment_23710\" aria-describedby=\"caption-attachment-23710\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-23710 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1833809044.jpg\" alt=\"\" width=\"1000\" height=\"666\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1833809044.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1833809044-400x266.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1833809044-600x400.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/06\/shutterstock_1833809044-768x511.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-23710\" class=\"wp-caption-text\">Prime Minister Gen Prayut Chan-o-cha said Cesa approved the proposal in principle, but would be revisited in the next meeting. DifferR\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">Based on the report by <a href=\"https:\/\/www.bangkokpost.com\/business\/2128383\/measures-to-lure-wealthy-foreigners-hit-obstacle\" target=\"_blank\" rel=\"noopener\">Bangkok Post<\/a><\/span><a href=\"https:\/\/www.chiangraitimes.com\/economy-business\/thai-government-mulls-over-foreigners-owning-land-with-a-10-year-visa\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">,<\/span><\/a><span data-contrast=\"auto\">\u00a0the Thai Government is\u00a0currently deliberating whether they should provide a long-stay visa of up to 10 years to foreigners who own a property in Thailand.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This new investment programme for affluent foreigners was first recommended during a meeting with the Centre for Economic Situation Administration (Cesa), chaired by Prime Minister Gen Prayut Chan-o-cha.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">He said that the administration authorised the proposal in principle, but requested Deputy Prime Minister Supattanapong Punmeechaow to confer with affected agencies, especially regarding the tax reduction and the law improvement, to be revisited at the next meeting of Cesa.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The long-stay visa will be given to four primary target groups, namely well-off retirees, wealthy global citizens, rich professionals working in the Kingdom, and highly-skilled professionals.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">An ad-hoc\u00a0committee\u00a0to manage investment acceleration,\u00a0led by ML\u00a0Chayotid\u00a0Kridakorn, the adviser of the Deputy Prime Minister and former senior country officer and managing director for JPMorgan Thailand,\u00a0prepared the wealth foreigner plan.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The proposal is, however, being set back by the Finance Ministry because of the 17 percent personal income tax on local earnings that have not yet been resolved, insisting the tax cut will affect the revenue collection of the government.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">To be eligible for the programme, affluent\u00a0retirees must be aged 50\u00a0and\u00a0over, must receive USD40,000\u00a0annual income, must have\u00a0USD250,000\u00a0investment\u00a0in real estate or government bonds, and must have USD100,000 health insurance. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/government-lures-wealthy-tourists-to-free-thailand-from-middle-income-trap\/\" target=\"_blank\" rel=\"noopener\"><strong>More: Government lures wealthy tourists to free Thailand from middle income trap<\/strong><\/a><\/p>\n<p><span data-contrast=\"auto\">Wealthy global citizens with no age limit must have at least USD500,000 in government bonds, real estate, or foreign direct investments; must have received at least USD80,000 in income in the past two years; must hold USD1 million worth of assets; and must have USD100,000 health insurance.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Professionals working in Thailand &#8212; either in the digital sector or as an employee of a huge corporation &#8212; must be close to the retirement age, must receive at least USD40,000 a year income, and must have USD100,000 health insurance.<\/span><\/p>\n<p><span data-contrast=\"auto\">As for\u00a0rich\u00a0foreigners, retirees will be given a 10-year visa,\u00a0will be allowed to acquire property and land,\u00a0will be able to work\u00a020 hours a week without a work permit, and will have to pay a 17 percent tax rate on local earnings.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Owner of Kay Estate in Chiang Rai Kaekwun Kanjanapungka told Chiang Rai Times that this proposal to allow foreigners to own land would be a great triumph for real estate developers since foreign investors are presently only allowed to own condominiums in the Kingdom.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559740&quot;:276}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The proposal would be a major victory for property developers as foreigners since foreigners can only own condos now<\/p>\n","protected":false},"author":9,"featured_media":23710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[632,252,1838,565,638,133,549],"class_list":["post-23709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-condominium","tag-foreign-ownership","tag-land-ownership","tag-propertyinvestment","tag-real-estate","tag-thailand","tag-visa","news_country-thailand","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Foreigners owning property in Thailand may soon get 10-year visas, pending government approval | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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