No More 3mil Investment Visas In Thailand

[Sunbelt Asia]

As of October 1, 2006 the 3 million baht investment visa will no longer be available

It has been brought to the attention of Sunbelt Asia that as of October 1, 2006 the 3 million baht investment visa will no longer be available.

This includes bank investments, condominium investments, and bond investments.

Existing investment visas will be approved forever( anything in the system prior to Oct 1 2006) even if you are under consideration.

This means if you ever thought about applying, do it now!

The official statement from Thai immigration is expected this week.

www.sunbeltasiagroup.com

[Captain Chaos]

Any indication of why this option will be cancelled?

Lack of interest (ours, not theirs)?

Too much attempted rule bending?

Too difficult to administer?

[Vespa]

Any indication of why this option will be cancelled?

Lack of interest (ours, not theirs)?

Too much attempted rule bending?

Too difficult to administer?

Beause they are trying their best to rid Thailand of Foreigners , no other reason .

[kudroz]

TiT at his best! You would think that by having tougher rules on the 30-Days Entry Stamp - they would encourage people to get the proper visa and possible lossen up certain requirements or introduce new visa types and/or reviewing the extension of stay requirements.

But no, they're cancelling pretty much the only option that people who are under 50yo had. The only option that is available to the group of people who are under 50yo who wish to live in Thailand - is to operate a business.

I hope that they're cancelling this visa and will introduce new ones more appropriate instead, oh well.

[LaoPo]

Gents:

I really wonder.....

Thailand has a 'Care-taker' government right now and I question IF new laws can be put into action during the 'Care-Taker' administration.

I know, this country is not a 'normal' democracy since in 'normal' democracies 'Care-taker' administrations do not imply new important laws.

Hmmm......sigh.............TiT, right?

LaoPo

[LoveDaBlues]

I'm 50 and will go for the retirement visa soon so this doesn't affect me. However, I'd like to know if I'm understanding this.

If a person aged 42 bought a condo last year for 3.5 million baht; does this mean that now he can't live there full time?

[LivinLOS]

yes in effect..

After being told to buy one to live here.. Comitting his money.. Hes now told to leave..

[A_Traveller]

My understanding is that changes such as this fall under the remit of the Immigration Commission, not the act itself, therefore such actions are possible without 'government' action per se.

Regards

[camerata]

Any indication of why this option will be cancelled?

Lack of interest (ours, not theirs)?

Too much attempted rule bending?

Too difficult to administer?

Beause they are trying their best to rid Thailand of Foreigners , no other reason .

The number of work permits issued keeps on increasing, so it can't be that Thailand simply wants to get rid of foreigners. Most of the crackdowns are aimed at reducing the number of undesirable (by Thailand's definition) foreigners. My guess is that 3 million baht is peanuts to foreign criminals and is allowing too many of them to stay here. 30-day visa runs is another way for foreign crims to stay here indefinitely.

[LoveDaBlues]

I predict a huge increase in WP's. Can a person get a WP.....say to teach.....but then not really pursue work; just use it as a way to stay in country legally?

[LaoPo]

My understanding is that changes such as this fall under the remit of the Immigration Commission, not the act itself, therefore such actions are possible without 'government' action per se.

Regards

I see, but such an important institution as the Immigration Commission and its 'acts' surely need approval from a/the Ministry (Care-Taker now), don't they?

If not......there just would be some (important) authorities at the Immigration Office who could change the 'acts' or Laws just by themselves.........whenever it 'pleases' them...???

LaoPo

[Levent]

This is getting crazier by the minute, isn't it? I think my priority now is to sell up everything and go to Malaysia or so.

[snakestick]

I suspect that the marriage visa financial requirement will be doubled shortly as it is very low

[A_Traveller]

As of October 1, 2006 the 3 million baht investment visa will no longer be available

It has been brought to the attention of Sunbelt Asia that as of October 1, 2006 the 3 million baht investment visa will no longer be available.

This includes bank investments, condominium investments, and bond investments.

Not only will it NOT be issued, but you CANNOT renew your current investment visa on this basis.

The official statement from Thai immigration is expected this week.

www.sunbeltasiagroup.com

Obvious question, any indication from your information, if this formal statement will include clarification on the possible concomitant change in the Tourist Visa arena?

Regards

[krystian]

This only means 1 thing for us foreigner......... SCRAMMMMM!!!

[deminister]

Maybe we should pressure Western governments to investigate all those MIB's and politicians that invest heavily in the West from their meager salaries, after all why allowing Thai hot shots to invest with crooked money while trying to cleanse thailand of foreigners, because that seem to be the goal. In the end they will come to terms when money will flow to Vietnam or Cambodia instead of in the pockets of our honest Thai officials. Personally I have no visa troubles but it sounds odd to me when you lure small investors into Thailand and than change the rules of the game.

[A_Traveller]

I see, but such an important institution as the Immigration Commission and its 'acts' surely need approval from a/the Ministry (Care-Taker now), don't they?

If not......there just would be some (important) authorities at the Immigration Office who could change the 'acts' or Laws just by themselves.........whenever it 'pleases' them...???

LaoPo

Hear what you are saying, however, from my post in the hyper-active thread

Commission

- Under Secretary of Ministry of Foreign Affairs

- Director General , Police Department

- Director General , Labour Department

- Director General , Public Prosecution Department

- Secretary General , Board of Investment Committee

- Secretary General , National Security Council

- Director , Tourist Organization of Thailand

- Commander of Immigration Division as member and secretary

Link to the actImmigration_Act.pdf

Regards

PS to clarify I mean act as in the legal term not an activity, sorry for any confusion.

/edit add PS//

Edited September 12, 2006 by A_Traveller

[snakestick]

My god this is shameful stuff going on. what a shaft job for the many folks who bought 3 mil baht condos just so they could get this type of visa

[paperwerks]

For those of us under 50 and retired but not married what are the options now? FWIW, I bit the bullet and put 3 mill in a bank account a few months ago so that I would feel safer with my status here. So, now I have to make plans to leave in 8 months or do the Penang thing again (if it will even be allowed!)

Looks like I will be exploring prenup agreements soon

I can say this- at least when I leave I will be taking my 3 million baht with me. I truly feel bad for those who bought an expensive condo and will be asked to leave it behind when they are shown the door!!

[VanZam]

All being done while our good freind Thuksin is sitting comfy in Cuba and refusing to return in the near future.

[Beer-diow, khao-neow, mai-an!]

OK. Looks like marriage visas are going to soar even further!

[kudroz]

I mean, it quite a blow for the people who invested and locked their investment in bonds or purchased real-estate. They could of at least grand-fathered the extension of stay for these people who have applied and received such extension of stays in the past.

[Thaiquila]

My god this is shameful stuff going on. what a shaft job for the many folks who bought 3 mil baht condos just so they could get this type of visa

Yes, and remember, that alot of these are bought off the plan and don't even exist yet! Frankly, not grandfathering the people who are already on this visa type, especially non liquid assets like condos, really bites!

I guess the old hands who always say "never bring into Thailand what you can't afford to leave in Thailand" win even more brownie points!

Edited September 12, 2006 by Thaiquila

[LivinLOS]

Yeah well.. No matter what they tell you..

Never bring into Thailand more than.. etc..

[haltes]

There was a 10 million baht one available as well??

[LivinLOS]

Sorry.. I dont do that on purpose honest..

Posts crossed while I was posting !!! Honest

[snakestick]

For those of us under 50 and retired but not married what are the options now? FWIW, I bit the bullet and put 3 mill in a bank account a few months ago so that I would feel safer with my status here. So, now I have to make plans to leave in 8 months or do the Penang thing again (if it will even be allowed!)

Looks like I will be exploring prenup agreements soon

I can say this- at least when I leave I will be taking my 3 million baht with me. I truly feel bad for those who bought an expensive condo and will be asked to leave it behind when they are shown the door!!

Dude! you gonna trust a prenup entered into in Thailand with all this crap going on? Don't do it man. Also, the people talking about grandfathering in Thailand; come on dudes, that's a western concept that's probablt never been done here and not legal

[grapetable]

Yes I believe that the investment visa is now 10mil baht......not sure about this. I was checking Thai Consul-general Sydney site yesterday.

[chuckygobyebye]

I predict a huge increase in WP's. Can a person get a WP.....say to teach.....but then not really pursue work; just use it as a way to stay in country legally?

No, your work permit is tied to a specific position in a specific company and is cancelled when you leave the job.

Also, the work permit is issued by the Ministry of Labour and only entitles you to work in Thailand, you need to ask the Ministry of Foreign Affairs for permission to stay in the country, typically through a one-year extension of stay to your visa. This is also cancelled if you leave your employer.

[LivinLOS]

There was a 10 million baht one available as well??

Think that went the way of the dodo..

There is a 40 mil one I understand.. Assists with fast tracking PR also..

Edited September 12, 2006 by LivinLOS