by Asia Land For Sale 
Two wrongs don’t make a right, but they do provide a great deal of entertainment when it comes to the Thai real estate market. Plans to allow foreign land ownership in Thailand have been withdrawn by the government as it looks to keep the public happy ahead of eventual elections.
Let’s start by pointing out the obvious. This was a terrible proposal derailed by illogical criticism. Neither the plan to permit foreign land ownership in Thailand nor the reasons against it make much sense. Let’s briefly breakdown each side.
Read More: Where can you find land for sale in Bangkok?
The proposal
Nothing about the government’s plan to permit foreign land ownership in Thailand was particularly enticing. The THB40 million (US$1.1 million) investment requirement was not reasonable. Maybe it would have led to a few more luxury villa sales in Samui and Phuket but to think this would drive a massive amount of money into the country was naïve.
However, the proposal had a much bigger issue–bureaucracy. The scheme was not going to be implemented or overseen by the Thailand Board of Investment (BOI). You know, the only organization in the Kingdom with demonstrable experience assisting overseas investors.
Instead, those wishing to purchase land after their investment had been made needed to go through both the Land Department and the Ministry of Interior. Thai government agencies are notorious for their inability to collaborate or share even the most basic bits of information. How exactly they were expected to assist foreigners with this remains to be seen.
In all likelihood, take up of this offer would have been low with most foreigners still preferring to purchase Thai land on leasehold agreements or through a Thai limited company.
The reasons against
The idea that there are hordes of foreigners wanting to invest more than one million dollars for the right to own a tiny piece of land in Thailand is optimistic. And that’s the polite way of saying it. If naysayers had bothered to look at this plan, they would have seen just how unpalatable it really was for most potential land buyers.
Calls against the government’s plan to permit foreign land ownership in Thailand stem from the country’s fear of competition (*cough* beer *cough*) (*cough* mobile operators *cough*). That is a whole other can of worms which we won’t get into here, but let’s not pretend this was about “selling off the country” as some opponents have claimed.
Final thoughts
Plans to allow foreign land ownership in Thailand may have fallen through, but this is hardly the end of the world given just what the program entailed. The gray area of ownership via a Thai limited company remains available. That, of course, comes with its own questions and challenges. But it’s still been easier than dealing with multiple government departments in hopes of finding someone who knew what was required for you to own land.
All of this could have been avoided had anyone consulted with the BOI. Not only could they have found a plan that worked for everyone, but the organization would have also been able to cut through the red tape to ensure the process was straightforward. Alas, that was not meant to be.
