Thailand News Today | Thailand not ‘selling off’ country by letting foreigners buy land, says govt
The government’s plan to allow foreigners to own a limited amount of land in Thailand
The government’s plan to allow foreigners to own a limited amount of land in
Thailand is intended to benefit the Thai people and the government is not “selling off”
the country to foreigners, as alleged by some, said a Deputy Government Spokesperson
Tipanan Sirichana on Sunday.
Responding to the Pheu Thai Party’s strong opposition to the plan, she explained that
only four specific groups of foreigners, who have already obtained long-term resident
visas and who meet the requirements will be allowed to own up to 0.16 hectares (one
rai) of land for residential purposes.
The four groups are:
1. Wealthy global citizens who each have assets worth at least one million US dollars,
an annual income of at least US$80,000 for the past two years and who have
invested a minimum of US$500,000 in Thailand.
2. Wealthy pensioners who are over 50 years old who each have assets of one million
US dollars, an annual income of US$80,000, or who have a minimum income of
US$40,000 a year and have invested at least US$250,000 in Thailand.
3. Foreigners who want to work from Thailand who has had an annual income of at
least US$80,000 for the past two years or who have a minimum annual income of
US$40,000 and have graduated with a Master’s Degree or own intellectual
property rights or who have received “Series A” funding of at least one million US
dollars have worked in a company, registered in the stock market, with annual
revenue of at least US$150 million, for the past three years and have at least five years
of work experience.
4. Skilled professionals who have received an annual income of no less than
US$80,000 for the past two years have an employment contract in target industries
and have at least five years of work experience.
On top of that, Tipanan said that these people must have insurance coverage of at least
US$50,000, adding that only qualified foreigners who meet the requirements will be
allowed to own land.
If a foreigner withdraws their investment, the land they purchased must be sold.
Moreover, foreigners can only buy land in Bangkok, Pattaya, or other “specified
residential areas.”
The measure is not actually new, said the spokesperson. It was put in place after the
1997 ‘Tom Yam Kung’ financial crisis to attract foreigners. But the new legislation is
stricter because it limits foreign investors to four target groups, said the spokesperson.
The measure will be effective for five years upon its publication in the Royal Gazette.
Therefore, with only some foreigners are eligible to buy land, under strict conditions and
for a high price, the spokesperson denied claims that new foreign land ownership
the legislation will increase the price of real estate or leave no land/property left for Thais. Thailand News
Khaosan Road ups security for Halloween party after deadly Seoul stampede Thailand News
Operators Promise Safe Halloween Festival on Khao San Road
Business operators on Khao San Road promised that their Halloween festival would
be safe and there would not be any situation like the one on a street in Itaewon
because Khao San Road is wider.
The President of the Khao San Road Business Association said that business operators on
Khao San Road prepared safety measures and there would never be any situation like
the one in Itaewon.
He said that Khao San Road was as wide as 12 meters and was flat, not slope.
Moreover, there were as many as seven exits. In any event of an emergency, visitors
could leave the road without delay.
To ensure public safety, local business operators planned to install reflective exit signs
in Thai, Chinese and English languages at the seven exits.
He expected about 20,000 visitors to Khao San Road during its Halloween festival on
Oct 31. The expected amount of people was lower than the number of visitors there
in Song Kran and New Year festivals when the 400-meter-long road welcomed 50,000 people.
According to the president, the Khao San Road Business Association worked out
safety measures with the Phra Nakhon district office, the police, the National Institute
for Emergency Medicine, and the Bangkok Metropolitan Administration.
The measures included the deployment of ambulances at all entrances and exits of Khao San Road. Thailand News
Biden to join ASEAN summit, Harris to attend APEC Thailand News
Top US officials are set to visit Southeast Asia, with US President Joe Biden joining
the ASEAN summit in Cambodia next month, and Vice President Kamala Harris
heading to Bangkok for an APEC meeting.
The White House has now confirmed that Biden will join the Association of Southeast
Asian Nations (ASEAN) for their meeting on November 12 and 13. Harris was also
confirmed to join the Asia-Pacific Economic Cooperation (APEC) meetings on
November 18 and 19.
President Biden is set to make appearances at Southeast Asia meetings to reaffirm the
United States’ commitment to Southeast Asia and ASEAN, according to the White
House statement. Previous reports had said that the US president would be unable to
attend the ASEAN Asian Summit because his granddaughter was getting married. The
White House was scheduled to host that wedding reception.
But now it appears that scheduling conflicts have been resolved. President Biden will
attend the annual US-ASEAN summit meeting in Cambodia on November 12 and 13
and also take part in the East Asia summit. Then he will travel to Indonesia to join
leaders from 20 major world economies for another summit.
“He will underscore the importance of US-ASEAN cooperation in ensuring security
and prosperity in the region, and the well–being of our combined one billion people.”
Meanwhile, Vice President Harris will be heading to Thailand. This year, Thailand is
hosting all of the Asia-Pacific Economic Cooperation meetings. Most recently,
Bangkok held the APEC Finance Ministers’ Meeting that took place on October 19
through October 21.
The APEC Economic Leaders’ Week is scheduled for November 14 to 19 in
Bangkok. Vice President Harris will join on November 18 and November 19.
According to Thai PBS World, she will be attending the meetings to bring a message
to that summit similar to the one that President Biden will bring to APEC.
Harris will reiterate the commitment of the US to the Indo-Pacific region and
economic cooperation with the countries in the region.
Anti-graft agency to seize Joe Ferrari estate Thailand News
Former chief of police Thitisan “Joe Ferrari” Utthanaphon will
have his assets seized after he was charged by the National Anti-Corruption
Commission (NACC) for having riches beyond his pay grade.
The NACC found Ferrari guilty of “being unusually rich” and proposed his estate
worth 1 billion baht would be confiscated, reported Bangkok Post.
The NACC will forward its finding to the Office of the Attorney-General that the
former chief of Mueng Nakhon Sawan Police Station in central Thailand had amassed
an unusually large amount of money that did not sit with his yearly salary.
Ferrari’s case will be filed with the Criminal Court for Corruption and Misconduct
Cases and they will be asked to order the asset seizure.
An investigation into the 41-year-old’s wealth began in August last year after it came
to light that the corrupt cop demanded money from drug suspects.
The former police chief earned the nickname Joe Ferrari as a result of his collection of
luxury vehicles. His assets include a 57-million-baht mansion in Bangkok.
Investigating officers discovered 24 cars valued at 70 million baht, a condo worth 1.5
million baht, and 18 guns worth 720,000 baht.
Ferrari is a controversial and well-known figure in Thai high society. He was often
seen mixing with celebrities and showing off his car collection. He is familiar with
Thai people mainly because he used to date a famous Thai TV star, Pichanak “May”
Sakakorn.
His fame increased after he married the daughter of a businessman who operated a
luxury car import. He had several luxury cars, such as Ferrari, Porche, Bentley,
Mercedes Benz, Mini Cooper, and Lamborghini.
He was the first and only Thai to own a Lamborghini Aventador LP 720-4 50
Anniversario. Apparently, there are only 50 worldwide. Thailand News
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