Living abroad may simply be a pipedream for many Singaporeans. But if you’ve accumulated enough wealth, even dreams can become reality.
To lure wealthy foreigners, Thailand’s government plans to offer land ownership among other benefits.
Source: Tony on Flickr
In the past, foreigners owning land in Thailand has been restricted somewhat but now, and with the cabinet’s approval, that will set to change.
However, to qualify for the scheme, wealthy folks will need to invest S$1.53 million (40 million baht) in Thai property, securities, or funds over a period of three years.
According to Channel NewsAsia, the proposed scheme will allow foreigners to own up to 1 rai (0.16 hectares) for residential purposes from September.
As mentioned earlier, this only applies to those who are able to invest S$1.53 million (40 million baht) into the Thai economy.
Aside from land, prospective investors will also get attractive tax benefits and a 10-year visa to the country.
Through the lucrative opportunity, the Thai government reportedly hopes to attract more skilled workers and retirees.
Reuters also reported that the scheme will undergo a review after five years.
That is to ensure that they’re on track to their projected figures, which include a S$38.2 billion (1 trillion baht) injection to the Thai economy and S$30.5 billion (800 billion baht) of new investments.
If owning a piece of land in the Land of Smiles has always been a dream of yours, this scheme may be a viable option for you.
Money aside, would you be willing to relocate to Thailand? Let us know in the comments section below.
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Featured image adapted from Crystal Hendrix Hirschorn on Flickr.
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