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Bangkok Post
Bangkok Post
Business

Thailand to offer land ownership to lure wealthy foreigners

Thailand Thanakorn Wangboonkongchana Economy
Bangkok seen from the 76th floor of King Power Mahanakhon Building. Foreigners would be allowed to fully own residential land in Thailand under a plan still to be approved by the cabinet. (Photo: Somchai Poomlard)

Thailand will allow wealthy foreigners to fully own land for residential use, government spokesman Thanakorn Wangboonkongchana said on Friday, seeking to boost its economy by attracting a million new big-spending residents from overseas.

Thailand has for decades been a popular expatriate destination for investment, retirement and for starting small businesses, but foreign land ownership has been restricted.

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