i have been scouring the fb adds in Thailand for about a year now. Definitely some fun stuff there. Finally get my hands on a Skyline or something I can't get here. 👍
you are welcome to live your life exactly as you see fit for yourself. You literally know zero about me. Some people must create. It is not always for wealth or fame. The products I sell are build with my own hands at a lower than competitive rate. I create a service for people. A needed service. I get paid to provide that service. This is the modern world. Happy tidings do not give shelter, a job does though.
After more research, there is a specific program for foreigners eligible for a long term visa that CAN purchase up to 1rai (0.4acre) of land. Investment in "Thailand" of 40million baht, which can include the purchase price of the house/villa/land. This program is only available in BKK and Pattaya apparently though.
For my situation, this fits extremely well. So I guess the answer is yes, a foreigner can own land if they fit in those parameters.
here is another that states the 40m baht investment can include the price of the property! That is nearly perfect for me and wanting to pay cash. I would not mind investing any balance into some Thailand interest bearing account. Perfect. Apparently this program is only happening in Bangkok or Pattaya, which is also exactly where I was looking.
So it does appear if you qualify for a long term visa, want to live in Pattaya or BKK, and have the means, you can use this program. I still have further questions, but save that for lawyer.
I was interested in the land lease and am very familiar with it, but had others say not to. Are you familiar with how it works? If I buy a villa, does the ownership of the land effectively go to the Thai gov? I assume they can repurpose the land at will, but would they be forced to buy me out at a decent market rate? What type of actions can get you blacklisted? I have no interest in drugs and stay away from people that do it, so no issue there. But could like simple traffic infractions do this?
Plan was to pay cash, but in that scenario, I would put the least amount down to limit early on exposure i suppose. A villa is actually preferred over condo due to the monthly maintenance fees. I have heard there is no property tax in Thailand, is this true with a foreigner owning a villa? Mostly looking in Phratamnak to South Jomtien area.
if it is possible, I will look for a place right next to Bira in Pattaya!! I have a friend here who does large track day events with track time, food, and music. Would be cool to do a once or twice yearly show and drive event there.