The Land Department considered amendments to the laws on the property rights of foreign citizens and came to the conclusion that it is necessary to preserve the current laws. An exception can be made for holders of a new LTR resident visa.
The LTR visa attracts overseas investment through measures to stimulate the economy and investment by attracting foreigners with high potential to Thailand, which were approved by the Cabinet of Ministers on October 25, 2022.
It is proposed to grant the right to acquire freehold land to LTR visa holders, under the conditions of investing at least ฿40 million in the country's enterprises and to support investments for at least 3 years before applying to own land. Foreign nationals will also be able to purchase no more than one land plot (1600 m2) in Bangkok or Pattaya for personal residence.
This amendment to the Land Law will be valid for 5 years, after which the State Council will decide to extend or cancel it.