hrrecruiter

On 1/12/2021 at 3:47 PM, Orton Rd said:

Another OP who never came back on his thread, not even to say thanks for the advice, seen a lot of this. It'll be should a pay sinsot again next.

Well, it sparked some interesting convo regardless, I benefited out of it, so I'm thanking everyone who chimed in.

Now, my take, I'm about to pull the trigger on a 5yo condo downtown BKK, mostly to my own use but also hoping to at some point sell at a small profit.

Im considering some positives and negatives

Positives

*25-35% off peak market price (price high 100s k per sqm vs mid 200s, luxury development downtown)

*hedge against inflation in this helicopter money days

*locked in some profits from the equity markets

However, Im still considering some downsides too

*THB feels very strong right now. Hard to see getting stronger

*Who low can this go? Deals are everywhere, Im renting at 50% off right now 

*with 50% off rent, I feel I already locked in some gains

*God knows how difficult would be to sell this when needed. ITs a substation amount of my networth (~30%) 

*Paying cash upfront, opportunity cost for more opportunities.

Anyone can contribute with more positives and negatives about the current market? As of now, I will just throw a low ball offer and see if owner sells, let him decide for me ????

3 hours ago, Pattaya Spotter said:

Anybody with anything good in Pattaya can PM me.

Which website sells farang owned real estate? Any specific Facebook groups? 

Is it possible to put my own condo as part of an offer in additional to some cash when purchasing a bigger condo in my building? How would the land office calculate taxes? Anything else I should be aware of?

Thank you

Great to hear, Ive always wondered how it compared with BKK Hospital next door. What was the total cost of your procedure if you dont mind sharing, presuming you have no insurance

Finally Lion does something good, hope the flight wont be as delayed as the usual commercial ones

Im planning to move out of BKK in 2 months, mean while do what i can for the family. I got this air purifier a month ago from lazada, it has a pm2.5 reading and its amazing how fast it drops. Best 5,000 I have spent https://bit.ly/2Shr4Mg

as if the strong THb wasnt enough. People in the tourism industry, everywhere in the world, not only Thailand, are up for a very rough year ahead. 

Just buy a set of masks for your family for public places. I got those via lazada, delivered in a couple days, sets of 3 and replacement filters too if you want to use against pollution - https://bit.ly/2u20bUD

While I have decided to leave BKK after a decade living here, i still need a few months to pack. Meanwhile I purchased an airpurifier and a mask, both from tech company Xaomi and gets to your home via lazada in a day or two

Air purifier

https://bit.ly/2G8tW8z

Mask

https://bit.ly/368DfQE

Like you, I love this city but I had enough. Packing as I type this and planning to leave Q2 2020 after many years. 

10 hours ago, BritTim said:

I stand to be corrected, but I do not think showing an intention to invest 10 million baht will be accepted. It is only the actual investment of 10 million baht in an approved project that will qualify. As I recall, one way to do this is by putting the balance of 8 million baht in Thai government bonds.

Do you think if I show ~2 million already paid for the condo + 8 million in bonds would do the trick? Then pay the balance to the developer the following year and when applying for extension it would be around 9 million for the condo + 1 million in bonds. 

Thank you

Still putting the final details together, to make sure this 10mb VISA will work.

If I go ahead w the off-plan condo I would be making the payments in installments, the developer bank will provide a FET for each installment. Would the below work

- Show immigration around 2mb worth of FET for payments of installments

- I would then transfer the remaining 8mb and leave on a savings account to wait the final deliver

- Apply for the VISA with the above

Then once condo is ready, make the final 7mb payment and leave mb in the fixed account, extend the visa the following year w this.

Anyone had experiences similar to this that worked or didnt?

Thanks

2 hours ago, ubonjoe said:

A re-entry permit can be applied for to keep any permit to stay valid. It has nothing to do with the visa that allowed that permit to stay.

No problem to get a re-entry permit for the last entry from a PE visa valid.

Where do I apply for the re-entry, at the Thailand elite office or Immigration at Chaeng wattana? Do i do this how long before leaving the country or just after getting my new 1y stamp?

Thanks

Thank you for all the help, Im finally in the final details of transitioning from my soon to expire privilege, to an investment VISA (Im in my 30s).

Here is the situation:

My Elite VISA expires within the next 6 weeks. I plan to enter one more time shortly before expires and get a 1 year stamp. I wil need to leave the country 1 time after that, can I just apply for a re-entry on that same year?

If so, I would have another 1 year (extending 5 to 6y duration on the elite), then after that I would probably run on SETV for some 6 months or so. If cant extend 1 year, then go straight to SETV. After that,  shift to the 10mb investment VISA (transfer cash first, get the FET, then get the visa, while the condo isnt ready by mid-late 2021).

Mean while, I would be paying 30% of the condo in small installments, from a THB account. When the condo is ready (approx 9million) I would then pay the 70% to developer from my FET money sitting in my savings account, and leave at the account whatever is necessary to complete the 10mb requirement.

Anyone sees any issues with the above?

14 hours ago, ExpatOilWorker said:

Yes, you will still need to do 90 days reporting and TM30.

 

Keep in mind you need to buy the condo direct from a developer.

 

https://www.thailand-property.com/blog/thailand-condominium-investment-visa-work-qualifies

Do you, or anyone else, knows if its a multiple entry visa? I can just fly in and out without needing to apply for an re-entry before leaving? Thank you for all the input. Yes, aware of the direct from developer requirement. 

Hi All,

Im considering the 10,000,000thb investment VISA (part new condo, rest cash in bank/bonds). There is very little information about it, Im wondering if I still need to go to immigration every 90 days and report? The usual stuff, faster, more complex? Thank you

Im on the TE VISA. I'm scheduled to fly into BKK with only 1 week left on the VISA. I'm getting mixed information about what happens, I would like to hear if anyone was in a similar situation.

1) Do you get the usual 1 year stamp and can travel in and out? for a year

2) One year stamp but on the next time you come in, VISA is no longer valid?

3) only allowed to stay 1 more week? Despite the 90 days report / 1 year stamp

On a similar note, I would imagine I could enter the country on VISA exempt without any issues (ie, 2 exempts per year, etc)

Thank you

On 11/7/2018 at 1:40 PM, hrrecruiter said:

Hi All,

 

I went to a law firm this morning, surprisingly the lawyer who I had scheduled the meeting with didn't know too much about this. He will check with his colleague that has experience w it (I doubt it). I have also booked another lawyer next week. If a lawyer at one of BKK top firm doesnt know about it, chances are it will be hard work w a big chances of failure

 

I'm just trying to understand the steps here before I either commit or rule out, but based on the experience so far, the Elite Visa is getting more and more attractive. Pay it, and forget it. Go and rest and use the 10million baht to invest elsewhere to pay for that visa cost.

 

 

I'm back from a 2nd lawyer - indeed to get the visa the property has to be in your name, from developer, and property has to be ready. A combination that isnt the easiest to find, the ones you find may equal they are overpriced.

If you want to buy a pre-sale or from a flipper, you need to pay the property in full first, then apply for the investment visa. The value on the deed is what it counts, you dont get the deed until the property is ready

All in all, it is an option but my experience does validade the fact why more people isnt using this, its very hard for the circumstances to match 100% and one may be better w the Elite Visa

Thank you all for the input

Hi All,

I went to a law firm this morning, surprisingly the lawyer who I had scheduled the meeting with didn't know too much about this. He will check with his colleague that has experience w it (I doubt it). I have also booked another lawyer next week. If a lawyer at one of BKK top firm doesnt know about it, chances are it will be hard work w a big chances of failure

I'm just trying to understand the steps here before I either commit or rule out, but based on the experience so far, the Elite Visa is getting more and more attractive. Pay it, and forget it. Go and rest and use the 10million baht to invest elsewhere to pay for that visa cost.

36 minutes ago, stud858 said:

Invest or elite visa, still up to the IO to allow or deny your entry. Either way not the best bet in my opinion. Too risky.  

But hey,  I'm a pessimist.  

Its my current status and a great option, Im just weighting the pros and cons to see if the property can beat that. If I need to bring 10m and sit on cash for most of the time earning >2%, plus the risks, etc, the 500k for 5y Elite looks a much better option indeed.Tks

13 minutes ago, faranglaowai said:

One final thing to remember is that it's the value registered at the Land Office that counts to the 10m, not what you pay.

 

Very often, if you pay a developer directly, say 10m then the actual registration at the Land Office may be only 8m (they can reduce their costs of transfer this way), leaving you with another 2m to hold in a bank to make up the 10m for the Investment Extension.

 

Since you will be paying a 'flipper', they will be making some money (likely) and thus the declared value at the Land Office may be much lower than 10m, leaving you with a bigger problem.

 

Personal experience speaking here.  Been there and done that.

Appreciate your input. Tks

6 minutes ago, faranglaowai said:

From what I understood in your earlier post, the condo will only be completed in 2021.  You will not be the owner of the condo unit until after completion and thus would not satisfy the requirements for the Investment extension until you are the actual registered owner.

 

You can however hold the 10m cash in a bank account, awaiting the payment of the condo in 2021 (if the developer will allow that) and that will satisfy the requirements of the Investment Extension.

Thank you, thats my thoughts exactly.

Ive been talking to sellers/flippers and indeed my name would be the first on the condo deed. The only issue is, lets say its a 10million condo. 

I need to pay ~3 million to seller

then make monthly payments of xx THB

So by the time ai need the visa, half of it will be paid already the other half will be in Bonds.

Just not sure the docs needed for immigration to approve, Im checking with a lawyer, will keep you guys posted. If anyone have more inputs please let us know.

4 hours ago, Ketyo said:

As long as the ownership has not yet transferred from the developer to the person who is flipping the condo, you will be named as the first registered owner on the relevant documents at the transfer date. The condo then counts as new as far as immigration are concerned - you will be the first owner. This is even though some of your money will go to the flipper to cover the amount he has already paid to the developer - he never owned the condo because it was not transferred to him by the developer in this case. So you will qualify for an investment visa even if you buy a 'resale unit' before the transfer date.

 

Good to know, there is hope then. I will chase this opportunity. 

15 hours ago, elviajero said:

It has to be a new property.

 

Personally, I wouldn't bother and would just buy a 20 year Thailand Elite membership/visa for 1M baht.

You seem to know about this ???? One more question, I found a condo that qualifies, is brand new, but is sold out. It will be ready in 2021, but some people are flipping it, would this work? Or I need to actually buy off the developer before it sells out?