For residences costing more than 3 million baht, the government plans to lower transfer and financing fees to 0.01 percent as an added incentive. The new long-term resident visa will accept applications starting on September 1, according to a statement from Thailand’s Board of Investment. According to the BOI, the new LTR visas will “make long-term stay in Thailand easier and less onerous.” In comparison to other nations, he claimed that Thailand’s real estate prices are “not exorbitant” and that the plan will contribute in the restoration of the economy. The plan will now be presented to the Cabinet for evaluation and approval, according to Nipon Boonyamanee, the deputy interior minister. The Thai government recently began offering a number of lengthy (10-year) visas, and there is currently a plan to permit foreign ownership of land, albeit with a high entry cost. The Thai Interior Ministry is working on a scheme that would let foreigners buy up to 1 rai of land (around 1,600 square meters, .16 hectare or .4 acre). Another drawback is that a foreign buyer would only be able to purchase land that was up to 1 rai in size. There is a catch, though. To qualify for land ownership, foreign investors would need to make a three-year investment of 40 million baht in Thailand. Despite the first obstacle, Thai MPs remain optimistic that the scheme will encourage foreign ownership of real estate in Thailand. Thailand may allow foreigners to acquire real estate. In order to entice foreigners with “high potential” to live and work in Thailand, the 10-year visa was created. He asserted that the transition will mostly benefit the cities of Bangkok, Samut Prakan, Chonburi (Pattaya), Phuket, and Chiang Mai, where foreigners frequently go to or reside.
![](https://thai.news/wp-content/uploads/2022/07/kong-s-let4YfLx02g-unsplash-scaled.jpg)
Thailand may allow foreigners to acquire land, however there are some restrictions
More from ThailandMore posts in Thailand »
- Maris Sangiampongsa’s Strategic China Visit: Strengthening Ties and Pursuing BRICS Membership
- BMW Driver Thas Causes Chaos on Bangkok’s Sukhaphiban 5 Road: 9 Injured, 7 Vehicles Damaged
- Lock Star Scam Busted: Royal Thai Police Seizes 30 Million Baht in Major Raid
- Thammasat Advanced Medical Center: Affordable Premium Healthcare Launches in Pathum Thani
- Suvarnabhumi and Major Airports to Serve Alcohol, Boosting Thai Tourism
- Bangkok Weather Alert: Heavy Rain and Thunderstorms to Hit 55 Provinces This Weekend
- Chakapong Kamchan Alerts Public to Dangerous Water Bill Scam: How to Protect Yourself
- David Li Highlights Huawei’s Vision for 5G-A and AI Integration at MWC Shanghai 2024
- Double A (1991) Achieves Rapid Sellout of 2.5 Billion Baht Bonds Under Yothin Dumnernchanvanit’s Leadership
- AREA 2024: Celebrating 81 ESG Leaders Transforming Asia’s Sustainable Future
- LuLu the Piggy Pop-Up Store in Bangkok: A Must-Visit for Art Toy Enthusiasts at Siam Discovery
- Gen Kriangkrai Srirak: Poised to Tackle Thailand’s Provincial Security as Potential Senate Speaker
More from VisaMore posts in Visa »
- Destination Thailand Visa (DTV): The Digital Nomads Visa
- How to select a Trustworthy Visa Agency in Thailand
- E-visas are currently accessible in 38 cities and 23 nations
- Immigration authorities will revise visa extension requirements
- Utilizing facial recognition technology, an anti-overstay campaign is implemented
- Thailand increases its e-Visa service to 23 countries around the globe
- Are you a digital nomad or are you constantly on the move?
- To entice visitors from other countries, Thailand could modify its LTR visa
- Philippines provides an appealing alternative to Thailand’s 10-year LTR visa
- Thailand will continue the Smart Visa program to attract talent
- Affluent Americans, Chinese, and Brits lead the list of new Thai visa applicants
- 10 Year Long Term Resident Visa – Applications Open
Be First to Comment