The Thai cabinet approved the Interior Ministry’s withdrawal of the ministerial edict on foreign land-ownership for reconsideration today (Tuesday), following widespread opposition to the plan.
Government Spokesman Anucha Burapachaisri said that the Interior Ministry will withdraw the measure for further study and to get more feedback from all stakeholders.
The edict was approved by the cabinet on October 25th, allowing qualified of foreigners, with long-term resident visas, to own up to 0.16 hectares for residential purposes in Bangkok, Pattaya, other municipal areas and other areas to be specified by law. One of the requirements is that each must invest at least 40 million baht in Thailand for at least three years.
The target groups were wealthy global citizens, wealthy pensioners, those who want to work from Thailand and highly-skilled professionals.
The plan has, however, encountered widespread opposition, with some nationalist groups having accused the government of “selling off” the country to foreigners.
