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  1. #26
    Thailand Expat
    Shutree's Avatar
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    Quote Originally Posted by Saint Willy View Post
    Good news. Malaysia has decided that they will reverse the MM2H changes. Probably.
    Do you have a source? My MM2H group was buzzing with negativity following the Home Minister's remarks yesterday:

    KUALA LUMPUR – The government will not review the new and more stringent conditions under the Malaysia My Second Home (MM2H) programme to ensure those who participate can truly contribute to the economy, the Dewan Rakyat was told today.

    Home Minister Datuk Seri Hamzah Zainudin, however, said the government will consider some flexibilities for existing MM2H holders.

    Minister puts foot down, says no changes to stricter MM2H rules | Malaysia | The Vibes


    'consider some flexibilities' - maybe.

  2. #27
    Thailand Expat misskit's Avatar
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    Government Spokesman clarifies measures to attract foreigners of high potential

    BANGKOK (NNT) - Last week, a meeting of cabinet ministers approved measures to attract foreigners to help stimulate the Thai economy and investment. Among the measures is the issuance of long-term visas; people on social media have linked the issue with foreigners’ ability to own land and property while expressing concerns that foreigners may buy all the land in the country. The government has responded that foreigners’ right to buy or rent property is still subject to specific requirements, and has warned people not to distort related information.


    Government Spokesman, Dr. Thanakorn Wangboonkongchana, said today that the economic stimulus measures are aimed at drawing foreigners of high net worth to compensate for the drop-in tourist arrivals and revenues while stimulating investment in progressive industries in the country. The measures focus on four groups, including wealthy people, retirees, those wanting to work in Thailand and highly-skilled professionals. As a result, experts or highly-skilled workers in technology or future industries can support the national development by strengthening technological connectivity, transferring new knowledge, enhancing skills and capacity, and increasing job opportunities in the country. The issuance of long-term visas and changes to related rules and regulations will remove some challenges experienced by investors. An assessment will be conducted every five years.


    Concerning comments on social media that link the issuance of long-term visas with foreigners’ right to buy or rent property in Thailand, while suggesting that it is like selling land to them, the Government Spokesman said that foreigners’ right to buy or rent property still complies with the existing requirements. Some groups are trying to distort information in order to criticize the government. All sides should open up and study the issue thoroughly and consider the benefits that the country will achieve.


    According to Section 19 of the Condominium Act (2008), foreigners are permitted to own up to 49 percent of the building’s residential space, while the remaining 51 percent of the same area must be Thai owned.


    Concerning land holdings, the law does not allow foreigners to buy a home or land in the country. However, Section 96 of the Land Code states that foreigners who invest a minimum of 40 million baht are permitted to buy up to 1,600 square meters of land for residential use, with the government’s permission. The owner is however, required to sell the land, if it is not put to residential use within two years.


    If the government’s economic stimulus measures can draw a million foreign experts and those of high economic potential to the country in five years, economic benefit of 1 trillion baht will be created, with 800 billion baht from domestic spending and 270 billion baht from tax revenue collection. The funds result from personal income tax collection, value-added tax (VAT) and investment tax.

    National News Bureau Of Thailand

  3. #28
    Thailand Expat panama hat's Avatar
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    Quote Originally Posted by Saint Willy View Post
    Good news. Malaysia has decided that they will reverse the MM2H changes. Probably.
    The sultan of Johor is a big critic, as are quite a few pollies . . . see how it pans out

  4. #29
    Hangin' Around cyrille's Avatar
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    Quote Originally Posted by happynz View Post
    Is this a variation of trickle down economics? I don't see how having a million "high potential" foreigners in the kingdom will make much of a difference to the overwhelming majority of Thai people.

    For those who cook up these schemes the welfare of these average person in the country isn't a consideration, so there's that.
    My question is - why should being wealthy excuse someone from 90 day reporting? If it does then what is the purpose of the 90 day report?

    Why does being relatively wealthy mean nobody needs to know where you are?

  5. #30
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    What exactly is the duration of a long term visa and when will this come into play?

    I would probably qualify as a highly skilled professional.

    As for 90 day reporting, it also has its flaws. I'm currently going through my 1 year extension process on my marriage visa, but I got called back yesterday to sort out my address 'because I currently live in Chonburi'. Of course, I have never lived nor had an address in Chonburi, have not been there since a family trip last December and have done countless 90 day check-ins at Hat Yai Immigration since then.

    It was an easy fix but no explanation how that happened.

    Got an afternoon off work though.
    Lang may yer lum reek...

  6. #31
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    All Thai immigration offices have their own interpretation of the rules.

    All immigration officers have discretionary powers, usually to say NO without being challenged on it, no refunds etc.

    Once upon a time, the rule was that an ‘alien’ had to show proof of income, Bt XXX every year, or month. Now all of that income must be held on deposit in a Thai bank, even if you don’t need to spend that much to live comfortably.

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