Almost there - please help me finalize my VISA change from Elite to Investment (10mb)

[hrrecruiter]

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?

[ukrules]

I'm not sure about the re-entry permit during the extra year which seems to be the main point of your question but you can get the extra year for sure, I did that myself.

 

Please update us with any information that you come across with regards to a re-entry permit during the 6th year of a 5 year PE visa.

[madmen]

4 hours ago, humbug said:

its becoming a bit of a game these elite threads, one a week, always similar style, anyway its a lot of money just to get a one year extension, and if a condo is sold for the same price as the purchase price, then moving the money out of the country will become a huge hurdle, try moving 500k out of the country, and you see what i mean

Not if you buy your home currency here which of course is a far better exchange rate

[dcnx]

As someone who has bought and sold a lot of condos here, I have to say that you’re out of your mind buying a 10 million baht condo pre-construction. Even paying as you go, you’re literally rolling the dice. 

 

This country is plagued with unfinished or messed up buildings and it doesn’t always end up how you’d think. The land could not be registered correctly and they might not have the ability to actually give you a title for the unit or even charge you independently for your own electric. The stuff I’ve seen here with new builds is beyond words when it comes to incompetence.

 

Make sure they have built a lot of other buildings. 

 

I wish you the best of luck with it. I would say you’re 50/50 getting what you think you’re getting. 

 

Side note, this is the problem with the Elite, it ends and you’re right back in the same boat as when you started. No incentive to do another. Thanks for your money, farang. Pay again or hit the road. But for the world’s largest brothel, it’s sort of fitting. Everything is for rent here.

[dcnx]

1 hour ago, ukrules said:

I'm not sure about the re-entry permit during the extra year which seems to be the main point of your question but you can get the extra year for sure, I did that myself.

 

Please update us with any information that you come across with regards to a re-entry permit during the 6th year of a 5 year PE visa.

I don’t believe you can get a re-entry on that last extended year. It expires when you leave. Someone correct me if I’m wrong. 

[dcnx]

For the OP:

 

For the money you’re about to spend on the condo and still have to do check-ins, and jump through yearly visa hoops until you die, you can fast track residency in a lot of countries for a fraction of that amount and not have to worry about visa nonsense. 

 

You’re assuming this visa is going to be available year after year. I wouldn’t count on that. In fact, count on it changing just as soon as you count on it. Then what will you do? You have a 10m baht condo and you’re back worrying about how you’re going to stay another year. 

 

If you must be in Thailand, just get the 20 year Elite for 1 million baht and you’re good until 50. Then retire. Of course there will be a LOT of changes between now and then, but that’s better than what you’re currently planning.

 

I’d gamble 1 million on a 20 year elite. I wouldn’t gamble 10 million on a pre-construction condo that may or may not give me a single year visa. Then the hassle of getting a visa every year after that. What an expensive headache.

[BritTim]

16 minutes ago, dcnx said:

I don’t believe you can get a re-entry on that last extended year. It expires when you leave. Someone correct me if I’m wrong. 

I believe the opposite. An exception to the rule that you can always buy a re-entry permit to keep your permission to stay intact when you leave and reenter Thailand would astonish me. If they were going to impose limitations on stay with an Elite visa, it would be done by dating your final entry to the end date of your visa. However, we know they do not do that. What I am a little curious about is what happens if, rather than doing the final entry to the country before the visa expiry, you instead apply for a one-year extension of stay. Anyone know if that runs past the end date of your visa?

[ubonjoe]

2 hours ago, dcnx said:

I don’t believe you can get a re-entry on that last extended year. It expires when you leave. Someone correct me if I’m wrong. 

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.

[hrrecruiter]

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

Edited June 10, 2019 by hrrecruiter

[jacko45k]

22 minutes ago, hrrecruiter said:

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

A re-entry permit can be obtained from your area immigration office whenever you need it, or at the airport on your way out. 

[dcnx]

14 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.

It’s the 6th extension though, not the 5th (5 year visa). The way Elite explained it to me a few years back was that 6th extension would terminate if I left the country before it expired. Is this not the case?

 

I ended up not getting the visa. Their replies in general were often confusing and not comforting.

[lkv]

5 hours ago, dcnx said:

It’s the 6th extension though, not the 5th (5 year visa). The way Elite explained it to me a few years back was that 6th extension would terminate if I left the country before it expired. Is this not the case?

 

I ended up not getting the visa. Their replies in general were often confusing and not comforting.

It's an extension of a permission of stay.

 

Any permission of stay (extended or not), would terminate when you leave the country, unless you applied for a re-entry permit that keeps that permission of stay valid.

[ubonjoe]

9 hours ago, dcnx said:

It’s the 6th extension though, not the 5th (5 year visa). The way Elite explained it to me a few years back was that 6th extension would terminate if I left the country before it expired. Is this not the case?

Unless you applied for an extension at immigration it is a new one year permit to stay you are granted when you enter the country using the visa not an extension.

Perhaps Thai Elite did not know a re-entry permit existed to keep that last one year entry valid after your visa expires.

[onera1961]

It’s the 6th extension though, not the 5th (5 year visa). The way Elite explained it to me a few years back was that 6th extension would terminate if I left the country before it expired. Is this not the case?
 
I ended up not getting the visa. Their replies in general were often confusing and not comforting.

They are in business and why they will encourage you to get an extra year. Sometimes people have to use common sense and take risk to make a decision.

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

[hrrecruiter]

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

 

 

[BritTim]

1 hour ago, hrrecruiter said:

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?

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.

[Sexbomb]

It has to be an investment made.

 

Not an investment to be made.

[dcnx]

On 6/11/2019 at 7:32 AM, ubonjoe said:

Unless you applied for an extension at immigration it is a new one year permit to stay you are granted when you enter the country using the visa not an extension.

Perhaps Thai Elite did not know a re-entry permit existed to keep that last one year entry valid after your visa expires.

Thanks for the clarification! 

[hrrecruiter]

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

[Lovethailandelite]

What you MUST do is get advice from the BOI (Board Of Investment) as you will require a letter from them in order to get the visa.

https://www.sunbeltasia.com/investment-visa
 

Required Documents

Following are the documents that must be provided when applying for investment visa:

• A completed and signed visa application form.
• A non-immigrant visa.
• A fee of 2,000 THB for a single entry visa and 5,000 THB for multiple entries.
• A valid passport and other travel documents. The validity of the passport must be of 6 months from the date of your arrival in Thailand.
• Latest passport-sized photograph of the applicant.
• Evidence of an investment of 10M THB in Thailand after October 25, 2008. The documents may include a bank statement, a Sale, and Purchase Agreement or Foreign Exchange Transfer Form.
• A letter from Thailand’s Board of Investment.

[ubonjoe]

10 hours ago, Lovethailandelite said:

What you MUST do is get advice from the BOI (Board Of Investment) as you will require a letter from them in order to get the visa.

Wrong info for what is being discussed. 

The topic is about a extension of stay based upon investment applied for at immigration. See: https://www.immigration.go.th/content/service_5

[Lovethailandelite]

1 hour ago, ubonjoe said:

Wrong info for what is being discussed. 

The topic is about a extension of stay based upon investment applied for at immigration. See: https://www.immigration.go.th/content/service_5

You cannot get any visa/extension using investment without BOI approval. Immigration simply will not issue it.

[ubonjoe]

9 minutes ago, Lovethailandelite said:

You cannot get any visa/extension using investment without BOI approval. Immigration simply will not issue it.

Did you bother to open the link I posted so that would see that there is no mention of BOI approval being needed.

The BOI does not deal with extensions of stay or non-b visas that allow a condo purchase or 10 million in a fixed term account, government bonds or a combination of them to get a visa and extension of stay.

You are confusing a non-ib visa with what is being discussed.

[Sexbomb]

On 6/16/2019 at 4:37 AM, Lovethailandelite said:

You cannot get any visa/extension using investment without BOI approval. Immigration simply will not issue it.

Pure garbage.

 

BOI are not involved anytime in the process of getting this type of extension / visa.