Thai Cabinet might reportedly reject Interior Ministry’s foreign land ownership proposal due to massive public backlash

PHOTO: Matichon Onlline

National —

Thai media says the Cabinet might reportedly consider rescinding the Interior Ministry’s foreign land ownership proposal that will allow foreigners who invest 40 million baht per year for three years to own up to 1 rai of land (roughly 0.4 acre) in Thailand.

According to Thai media, General Anupong Paochinda, Minister of the Interior, will propose to the Cabinet tomorrow, November 8th, to withdraw the ministry’s proposal to allow foreigners to buy and own land in Thailand in order to boost the country’s economy.

The proposal had already been approved in principle by the Cabinet on October 25th, and it has sparked a fierce backlash ever since. Many are chastising the government run by Prime Minister General Prayut Chan-o-cha for putting the country on sale.

Thai media said, “If the Cabinet decides to withdraw the ministry’s proposal, they will then have to inform the Council of State, which is examining the proposal, to stop proceeding.”

The Ministry of Interior’s proposal aims to draw income from four groups of foreign nationals, including wealthy global people, wealthy pensioners, people who want to work from Thailand, and highly skilled professionals or specialists.

To be granted the right, one must invest at least 40 million baht per year for three years in Thai property, securities, funds, real estate investment trusts, infrastructure funds, or enterprises.

The land must also be used for residential purposes within Bangkok, Pattaya, municipal areas, or residential areas only.


Follow us on Facebook, Twitter, Google News, Instagram, Tiktok, Youtube, Pinterest, Flipboard, or Tumblr

Join us on LINE for breaking alerts!

Or, join us on Telegram for breaking alerts!

Aim Tanakorn
The local news translator at The Pattaya News. Aim is a twenty-four year old who currently lives in Bangkok. Interested in English translation, story-telling, and entrepreneurship, he believes that hard-working is an indispensable component of every success in this world.