The procedure seems pretty straightforward.
1. With 3 years of tax receipts for yourself and your company you can apply for a Permanent Resident card.
2. After 5 years with the PR you can apply for Thai citizenship.
With citizenship you no longer need a Work Permit.
You can own land.
And if times get tough you can get work as a motorbike taxi driver.
This gives me a few years to learn to sing the national anthem.
For many years I thought it would be impossible. But it seems quite a few farang have gone through this process.