The Thai cabinet on 25 October 2022 approved the Interior Ministry’s proposal allowing foreigners to hold land ownership for up to one rai (around 1,600 sq.m.) for residential purposes. The proposed scheme aims to stimulate the country’s investment and economy by attracting foreigners to Thailand, and creating more investment.
The four groups of qualified foreigners are as follows:
Wealthy global citizens
Highly skilled professionals or specialists.
Eligible foreign nationals have to invest in Thailand not less than 40 million baht (US$1.05 million) for a minimum of three years, such as bonds issued by the Government, real estate or infrastructure funds, or real estate investment trusts. The scheme will be in effect five years after publication in the Royal Gazette.
According to the Town and Country Planning Act, the land may be in Bangkok, Pattaya City, municipalities in all provinces nationwide, or areas stipulated as residential zones.