Do I still need to report on the 10million THB investment VISA?

[hrrecruiter]

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

[ExpatOilWorker]

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

[elviajero]

Yes you still need to report. It doesn’t give any ‘immigration privileges’.

 

You get the standard 1 year permit to stay and have to maintain your investment. Proof of your investment is required every year when you renew your permit to stay. 

[onera1961]

Only smart visa holders and their spouses are exempted from 90-day reporting.

Sent from my JKM-LX2 using Thailand Forum - Thaivisa mobile app

[elviajero]

27 minutes ago, onera1961 said:

Only smart visa holders and their spouses are exempted from 90-day reporting.

Sent from my JKM-LX2 using Thailand Forum - Thaivisa mobile app

That is not the case. No one is exempt from 90 day reporting.

 

Every year the Smart Visa holder must provide actual proof of address. The 90 day reports are being made by the BOI Smart Visa team at the One Stop.

[onera1961]

That is not the case. No one is exempt from 90 day reporting.
 
Every year the Smart Visa holder must provide actual proof of address. The 90 day reports are being made by the BOI Smart Visa team at the One Stop.

Technically may be. But the smart visa web site says no 90- day reporting. No work permit required. And it was confirmed by an Indian guy on smart visa working for KPMG I met last year at Thermae.

Sent from my moto g(7) using Thailand Forum - Thaivisa mobile app

[hrrecruiter]

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. 

[ubonjoe]

22 minutes ago, hrrecruiter said:

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. 

You first apply for a single entry non-b visa and then a one year extension of stay at immigration. After getting the extension you would need to apply for a re-entry permit for a fee of 3800 baht if you want a multiple. As single is 1000 baht.

General requirements for the extension are here. https://www.immigration.go.th/content/service_5

[kmw]

12 hours ago, elviajero said:

That is not the case. No one is exempt from 90 day reporting.

 

Every year the Smart Visa holder must provide actual proof of address. The 90 day reports are being made by the BOI Smart Visa team at the One Stop.

Thats correct, I asked my employer about the 90 day report, smart visa the BOI department take care of this for you but still need to do yearly extensions they said it's similar to the 90 day report for PE holders, while by law they also need to do it the elite team does it for the holders, but then also need a yearly extensions

[sumrit]

13 hours ago, elviajero said:

That is not the case. No one is exempt from 90 day reporting.

 

Every year the Smart Visa holder must provide actual proof of address. The 90 day reports are being made by the BOI Smart Visa team at the One Stop.

Is anybody, on any type of visa/work permit, exempt from doing a TM30?

[elviajero]

19 minutes ago, sumrit said:

Is anybody, on any type of visa/work permit, exempt from doing a TM30?

No. 

[sumrit]

42 minutes ago, elviajero said:

No. 

Thanks. I was sure that was so, but a friend, who has been living/working here for several years and part owns a foreign-based company here in Thailand, travels outside Thailand several times a year (for both business and pleasure). His secretary organises all his travel plans, work permit, 90-day reports, etc for him but they were shocked Friday when I mentioned TM30's, neither of them had ever heard of them. Not sure whether he/his company owns his house or whether it's rented but he's lived there for several years.

Edited June 9, 2019 by sumrit

[elviajero]

1 hour ago, sumrit said:

Thanks. I was sure that was so, but a friend, who has been living/working here for several years and part owns a foreign-based company here in Thailand, travels outside Thailand several times a year (for both business and pleasure). His secretary organises all his travel plans, work permit, 90-day reports, etc for him but they were shocked Friday when I mentioned TM30's, neither of them had ever heard of them. Not sure whether he/his company owns his house or whether it's rented but he's lived there for several years.

Enforcement of the ‘TM.30 reporting’ requirement varies from strict to non-existent depending on the office. So they probably report to an office that aren’t enforcing it.

 

Often people don’t know about it until they do something at immigration and get hit with a fine, or have an extension application refused. Or occasionally from a home visit.

Edited June 9, 2019 by elviajero

[2tall]

If you are > 50 years of age, why do this when u can get a retirement visa for 800K THB bank deposit balance?

[kmw]

17 minutes ago, 2tall said:

If you are > 50 years of age, why do this when u can get a retirement visa for 800K THB bank deposit balance?

Because many of us are under 50 years and want to live in Thailand, myself I am 35 years old, not married, so I only quality for an investment visa, PE visa or smart visa for long term stay, 

 

Im tired of doing back to back metv so I've applied for a smart boi visa, and from what I see my employer said it won't be an issue

[Percy P]

On 6/9/2019 at 9:27 AM, hrrecruiter said:

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. 

A ME allows you to go in and out of the kingdom when you like no need to apply for a RD . Reporting only applies if you stay more then 90. days in the Kingdom. I have a ME but l am out of The Kingdom every 90 days ,it's great.

[LivinLOS]

22 hours ago, kmw said:

Because many of us are under 50 years and want to live in Thailand, myself I am 35 years old, not married, so I only quality for an investment visa, PE visa or smart visa for long term stay, 

 

Im tired of doing back to back metv so I've applied for a smart boi visa, and from what I see my employer said it won't be an issue

If you have an employer then you should be on a non imm B / Extension anyway.. 

If the investor visa allowed you to spend your own money after import, it would be interesting, but the restrictions on use make it unappealing at the level it is IMO. Cheaper to simply 'pay' for the Elite and use the funds to generate a return in excess of the cost.