Jean123

Interesting... landosmiles, and thanks for the update. When you went to Krungsri, did you not ask them at the same time whether it is a bank in which "Thai nationals hold more than 50 percent of its shares"? According to their website, it looks like MUFG (Japanese bank) is holding more than 76% of their assets (Krungsri is thus a subsidiary of MUFG)... but then, who knows what kind of corportate structure they put in place.... maybe MUFG has created a Thai Subsidiary (with Thai ownership above 50%) which also owns the Krungsri... In corporate finance deals, it would not be unusual.

https://www.krungsri.com/bank/en/Other/AboutUs/Overview.html

Just found this

https://www.bangkokbank.com/-/media/files/personal/other-services/branch-services/international-branches/fcd_expat.pdf?la=en&hash=1B0B689C0A49EEFBB89232262CF1DAF23FC55920

thank you all for your feeback, it is all very informative.  I did once visit Standard Chartered and Citibank in BKK - both branches around Chitlom, and both replied they needed some sort of work permit or residence visa in order to open an account. As you mentioned landosmiles, even after showing them the investment visa process (thank you ubonjoe for the PDF forms) if it did not work out, does anyone have an idea on how to proceed?

(As a sidenote, I once visited a condo with a Sansiri salesperson, and she mentioned that with the SPA (sales and purchase agreement) you could go directly to a bank and proceed with the account opening? She mentioned at the time the Bangkok Branch near Nana usually does that). In this case though, I would think you would have to 1) purchase a condo first 2) open a bank account 3) transfer the 10 M baht, and since you have to " Must have evidence of investing in the purchase or rental of a condominium unit for a period of no less than 3 years " according to regulation, it means you have to buy the condo + invest 10 M baht in addition of the condo... Am I getting it right? Unless there is a way to open a bank account without buying a condo and wait for three years to be considered for the visa extension alongside the bank deposit? 

Have you landosmiles tried to go to HQ of those Thai majority owned banks and see whether they would be better informed? Im supposed to be there in early Feb, is there anyone that stands out? SCB Krungsri, Krungthai Kasikorn?

Thank you all for your feedback

Hello all

   Under 50, I am considering the 10 Million Baht investment (either in the form of a condo purchase, bank deposits, or combination of both) which supposedly allows you to stay in Thailand. I am still a bit confused here though about a few details...
 

1- Can you enter Thailand on a tourist visa, either purchase a condo and/or bank deposit, then apply for that investment visa?
2- I read you had to have a non-immigrant visa before applying for that 10M investment visa, how could I do that provided I am still under 50? Is there a non-immigrant visa I shall apply to before starting all the procedures in Thailand? (in essence, condo and bank deposit)?

3- I guess I'm pretty much wrong about everything, so I would greatly appreciate if any of you had already gone through this ordeal, and could explain the steps to take...

Thank you very much,

Jean