Seen this posted in a Koh Chang group , any idea if it’s actually legitimate or in the works?
Thanks 😊
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TLDR : Answer Summary
The discussion revolves around the legitimacy of proposals for a 99-year land lease and a 10-year tourist visa in Thailand. While several commenters express skepticism about the practicality and implementation of the 99-year lease, particularly for residential purposes, there is a consensus that current regulations typically allow for shorter lease terms. The proposal seems to predominantly aim at commercial interests rather than residential buyers. Comments reveal mixed feelings about tourism, with some participants noting that changes in visa regulations could impact visitor numbers and the economy. Some believe these proposals are mere speculation or media hype, while others hope for more solid long-term agreements.
Ban Israelis from the entire country and ban boomers from pattaya (they can live in jomtien)
Stig *********************
1.2 billion $
John ********
I don't believe a word of it they will never give you any 99 years for Jo blogs for a house
Elías ********
The 10 year tourist visa isn't like a game changer, or at least not a new idea. The US tourist visa has been always a 10-year one. However, it only allows stays of up to 6 months at a time, maximum, and of course, working is banned. I'd assume it'd be the same, with officers (either in the US or here in Thailand) not letting the people in if they come for 6 months stays back to back year after year.
Adam *****
There is a 10 year tourist visa existing already. It's called the Elite Visa :) unfortunately many of us are unable or unwilling to pay the fee.
Oo *****
Not free guys. If the price is not silly, I will go for it.
Duncan *******
It's a proposal, nothing more or less, but unfortunately half of the Thai media were seemingly dropped on their heads as children and don't understand what a proposal is.
Back and forth they crew them self every couple months they change
Henrik *****
Rumours only
Benjamin *********
Link please ?
ຈອນ ****************
I would do it
Andy **********
If it does happen they're going to make it so not worth it your head will spin lol
John **********
Lucas **********
Baht to strong
Brandon ************
For anyone that doesn't keep up with the news, the 99-year lease proposal is not new. It's the same proposal from many months ago. The Thai government and the news like to throw out tons of these and nothing ever happens. But the proposal is NOT for people to build houses. It's for the Thai government to lease land to commercial interests to build factories and other industries, and may possibly be related to the casino plans. After 99 years the land reverts back to the Thai government.
Daniel **********
That would be incredible
Corrine ******
Does Thailand gov know about this?
Ivan *******
No way...
Richard **************
They announced it and will watch and see if it gets any traction, then they'll start the program
99yrs lease is not going to happen...theoretically 30yrs and after extent another 30yrs and what if the owner doesn't want to extent? Ppl who are here long enough will know spreading fake news is unwanted
the only thing that's legal is a 30 year lease. Anything other than that is irrelevant. They can decide not to renew after 30 years even if there's a contract that says they will, because that's not a legal contract. Maximum lease is 30 years period.
Lawyers say what will get your business. They could care less what happens in 30 years from now. Just look at all the lawyers who say setting up a nominee company and even providing the nominees for owning a house is legal. Until the investigators come calling.
that’s why I’m asking. The current 30 year with “promise” to extend doesn’t work for me, as exactly as you stated, the owner can change their mind. So was curious if any one knew if this would happen. It would be nice if it did tho!
there is no 99 year lease, some projects were promising 30 + 30 + 30 but recent court case showed only the 30 year lease was legal and its entirely up to the owner if they want to renew
most I’ve seen are 30 year lease with some “promise“ to extend after but it’s not guaranteed and if the owner dies the heir to their will can easily deny the extension. I’d like a solid 99 year agreement! The tourist visa part doesn’t make much sense tho as you are correct it’s really an LTR visa! lol 🤣
that's not for you. The 99-year lease plan is the same one they floated months ago. It's only for commercial entities that want to build factories and such. It's only for government land and reverts back to the government after 99 years. It's not for people to build houses for themselves.
sorry Phil, but completely wrong. The only 10 year visa is the LTRV visa which is specifically designed for wealthy retirees or wealthy global citizens. You need to earn 80,000 USD minimum. And having just received mine on the 7th May there was no requirement to hold any amount of money on an account. I have received mine and am happy but definitely not happy with this schizophrenic government who are now changing the tax remittance rules for thais only. Not expats. There are better visas like Vietnams 10 year golden visa. But as I'm in a serious relationship and buying land and retiring here forever, it doesn't matter.
sorry but you're the one who is "completely wrong." The non immigrant O-X is a ten year visa. Much older than the new LTR. And how could anyone possibly know if Vietnam's 10 year visa is better if the requirements and benefits haven't been announced yet?
why are you concerned about foreign income tax for non-Expats if you have a LTR-Visa - Wealthy Pensioner (assuming this is your category). This visa brings tax exemption from the recent foreign income tax changes (Jan 1st 2024) does it not?
not entirely. As an LTRV holder you will still pay taxes on money if you bring it in the year it was earned. I was in Ireland when the rule came in and only know about TIN numbers when I helped a friend open a company. Which of course needed a TIN number. Not having heard the term before I asked my lawyer. They told me I needed one too. So I had to pay a massive amount of tax in 2024. And as I need to live I also be bringing in (although not as much) in 2025 which will be taxed in 2026. So having an LTRV does not exempt you from taxes if you remit the funds in the same year that they are earned.
At this moment it is only a draft for an ammendment in the law. Nothing is sure yet. But most importantly : that it would only apply for Thai nationals and not to foreign tax residents is just an assumption. That's how communication and 'news' works : by the time you make an interpretation of something what a news outlet wrote based on what someone expressed it, a lot gets twisted. I'm extremely confident that any amendment in tax law will apply to tax-residents in general, not limited to "Thai only". Even on official websites they use wrong English wording or wrong terminology.