PM eases foreign quota worries

A home and condo reasonable in Bangkok in March. (Bangkok Post file image) Prime Minister Srettha Thavisin on Sunday protected the proposition to raise the percentage of foreign ownership permitted in condos from 49% to 75% and extend land lease terms for immigrants to 99 years from 30-50 years, stating these procedures will aid promote the economy. However, to makesure Thai condo owners can continue to workout control over the residentialorcommercialproperty’s management, the proposed modifications to foreign ownership quota won’t be followed by an boost in ballot rights, stated Mr Srettha. The percentage of ballot rights held by foreign owners to those held by their Thai equivalents will stay thesame at 49% to 51%, according to the PM. Foreign owners of a condo system who bought their system after the 49% quota hasactually been filled will generally be able to own and live in their system, however they won’t have the right to vote in any choice which needs ballot amongst joint owners of the job, he stated throughout a see to the Eastern Economic Corridor (EEC) location in Rayong. When asked about the proposed extension of the land lease terms to a optimum of 99 years for immigrants, the PM stated other nations permit up foreign live
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