Long-stay visas proposed for foreigners who buy Bt3m condos

[overherebc]

2 hours ago, bluesofa said:

Just how much of a masochist are you?

Someone once said, "Polygamy is having one wife too many. Monogamy is the same."

The version I like is 

Having 3 or 4 wives is Polygamy. Having 1 wife is Monotony

Edited December 18, 2020 by overherebc

[mtls2005]

2 hours ago, Crossy said:

Hmmm, spend 300k US on a condo which I can rent out (I'll bet there's a condition I can't), get PR. 

 

Meh.

 

$900,000 minimum, and that's for a TEA (limitied locales).

 

 

 

Increased minimum investments

The standard minimum investment amount has increased to $1.8 million (from $1 million) to account for inflation.
The minimum investment in a TEA has increased to $900,000 (from $500,000) to account for inflation.
Future adjustments will also be tied to inflation (per the Consumer Price Index for All Urban Consumers, or CPI-U) and occur every 5 years.

 

https://www.uscis.gov/working-in-the-united-states/permanent-workers/eb-5-immigrant-investor-program

 

 

[Mike Teavee]

2 hours ago, Crossy said:

Hmmm, spend 300k US on a condo which I can rent out (I'll bet there's a condition I can't), get PR. 

 

Live in my wife's house on the income from the condo.

 

If it all goes belly-up I still have the condo.

 

I expect there will be so many hoops and conditions attached that few will be willing or able to take them up on this.

 

 

 

You can bet to get PR that they'll still have the "Last 3 year's tax return" requirement that they have for the Investor / Marriage PR application... 

 

Basically, if you don't / have never worked in Thailand there's no route to PR... 

 

[Mike Teavee]

1 hour ago, Destiny1990 said:

 You kinda are misleading other members here are about how simple and easy ur visa process is. Thats kinda annoying stop that.

In what way is he "Misleading" my last Extension (August) took 30 mins from getting to CW to getting out the door.... 

 

Granted I pay 7,000 THB for an agent to do all the paperwork/running around for me (& wait around to pick up my passport) but even without them I would have been done & dusted in less than 2 hours... 

 

[soi3eddie]

 

3 hours ago, bkk6060 said:

I will continue with my retirement extension thank you which takes about 2 hours every year and around 2000 b.

 

2 hours ago, Destiny1990 said:

 You kinda are misleading other members here are about how simple and easy ur visa process is. Thats kinda annoying stop that.

 

I bought my condo some years ago but wouldn't benefit retrospectively with a 5 year visa. A shame that this can't be extended to those who have invested in the country and intend on staying here.

 

bkk6060 is not misleading anyone as renewing a retirement visa can be as easy as 2 hours once a year (it was for me this year too). Not difficult if staying organised and within the rules.

 

Destiny1990, hope that's not too anoying for you ????  

 

[sungod]

3 hours ago, bodga said:

Could  I  marry  7  time s over?

Quite a few on here already have I believe.

[Pattaya Spotter]

4 hours ago, bodga said:

OK Ive  bought 7  in the last 8 years....what do I  get? what;s  that ........oh nothing, thanks

Why should you get anything...there was no incentive in place when you bought them and you knew this and purchased them anyway.

[sungod]

3 hours ago, Lingba said:

who would be stupid enough to do this especially with the baht now at 29.75 to the US dollar....give me a break

Think they are looking east, not west.

[Pattaya Spotter]

4 hours ago, Olivie said:

Condos market should be diving if they are making this kind of proposition...
I dont know who would be stupid enough to buy now.

It's dead in the water already so won't make it any worse.

[Pattaya Spotter]

3 hours ago, scubascuba3 said:

They should increase foreign quota, so many Thai quota are unsold or empty and can't sell. 75% would work

Then foreigners would own the land on which the condo sits...they might dig it up and take back with them if they leave Thailand. 

[maddermax]

I have had property worth approximately Baht 30 million here in Pattaya for ten years. Is the 5 year visa retroactive so that I can get one?  I doubt it!

[Pattaya Spotter]

3 hours ago, tonray said:

Yeah...I was going to buy a car soon...not anymore....gonna kill off any large purchases by foreign investors/residents

Only by the skint ones.

[AlfHuy]

Forget about the condos.

TAT is now working hand in hand with "Tinder".

That should work fine.

Get all the "lonely" ladies a farang and support the family in return, farang get's a 3 months visa.

[Mr Meeseeks]

3 hours ago, Liverpoolfan said:

How about scrapping the income requirement and 3 years tax returns for those that are married to a Thai with Thai kids and have been living here 5 years or longer so they can obtain PR?

You have to get a job and pay taxes in Thailand to qualify as it should be. The more difficult the better. There's too many client/worker 'relationships' for that ever to work.

 

Say what you like about Thailand but they have their immigration policies spot on. If only our home countries did the same.

[Dazz1]

Stop manipulating your currency and people might think about it! 

[darrendsd]

4 hours ago, bodga said:

OK Ive  bought 7  in the last 8 years....what do I  get? what;s  that ........oh nothing, thanks

 

When you bought before the rules were not in place were they so you OBVIOUSLY would not get anything

 

If you buy in the future you may well do so

[shackleton]

If people can afford to buy these condos for the sake of a 5 year residency 

visa and no hassle at immigration 

Why not just pay a broker for the yearly visa and use the money for something else 

 

[jonclark]

I think the mere fact that these proposals exist - especially the one for the high end condos and PR (remember that currently PR is limited to 100 people per nationality) speaks volumes about the scale of oversupply at the more expensive end of the condo market. My suspicion is that there is a rather large property bubble starting to expand and this smacks of a desperate measure to try to shift unsold stock. I think there is a liquidity crunch. 

 

I have read recently in Khao Sod newspaper, that given the increasing levels of household debt many Thai banks are now being far less 'forgiving' in martgage aplications for Thais seeking mortgages for 2nd or 3rd properties and this may be feeding into this move.  If you put down 20% on a 10 million baht property. A 15 year mortgage works out at about 70K a month and a 20 year mort 62K. There are not a huge number of people who can afford that level of mortgage locally.

 

The ony place less stagnant that the new condo market, is the second hand condo / property market which has some bargins but has basically flatlined. So if you do buy a condo - You may well be stuck with it unless you sell it for probably far less than you pay for it. 

Edited December 18, 2020 by jonclark

[WineOh]

35 minutes ago, Mr Meeseeks said:

You have to get a job and pay taxes in Thailand to qualify as it should be. The more difficult the better. There's too many client/worker 'relationships' for that ever to work.

 

Say what you like about Thailand but they have their immigration policies spot on. If only our home countries did the same.

And married people with a family. ie fathers with thai children who wish to remain in Thailand permanently should not have the right to Permanent Residency to be with their family??

[Peterw42]

4 minutes ago, shackleton said:

If people can afford to buy these condos for the sake of a 5 year residency 

visa and no hassle at immigration 

Why not just pay a broker for the yearly visa and use the money for something else 

 

If you are under 50, there isnt a lot of options to pay an agent. Maybe a couple of years on an education/volunteer visa, once those expire there is no magic pay an agent option

[alianware]

If you buy a condo in asia for 10 mill oder even just 5 mill. You must be so stupid and have no idea about property at all !

[Peterw42]

11 minutes ago, alianware said:

If you buy a condo in asia for 10 mill oder even just 5 mill. You must be so stupid and have no idea about property at all !

Its still reasonable value compared to many of the places we come from. 5m baht is $200,000 in AU dollar terms, that wouldn't buy you anything in Australia.

Edited December 18, 2020 by Peterw42

[Spellforce]

Nothing has been voted yet, but that's a good news they start to think about the long time residents and their visas.
I hope next step will be to think about all the residents; not only the new ones.
They already thank us during those difficult covid times, but something about a special resident visa would be much better.

[bluesofa]

2 hours ago, overherebc said:

5 hours ago, bluesofa said:

Just how much of a masochist are you?

Someone once said, "Polygamy is having one wife too many. Monogamy is the same."

The version I like is 

Having 3 or 4 wives is Polygamy. Having 1 wife is Monotony

Edited 2 hours ago by overherebc

Very good!

Actually in my hurry to tripe type faster, I misquoted it. It should have been, "Bigamy is having one wife too many. Monogamy is the same."
Just looked it up, it was said by Oscar Wilde (I was surprised to read Wilde was married and had two children).

[AlfHuy]

56 minutes ago, shackleton said:

If people can afford to buy these condos for the sake of a 5 year residency 

visa and no hassle at immigration 

Why not just pay a broker for the yearly visa and use the money for something else 

 

Or spend 500k (soon 600k) on an Elite visa and not an overpriced condo.

[Mr Meeseeks]

42 minutes ago, Liverpoolfan said:

And married people with a family. ie fathers with thai children who wish to remain in Thailand permanently should not have the right to Permanent Residency to be with their family??

I don't believe so for two main reasons. The first because of the client/worker 'relationships' as I mentioned earlier. It's a complicated and difficult to manage situation that would result in even more foreign men marrying prostitutes and claiming a right to reside in the country. 

The rules are more relaxed for foreign women married to Thai men specifically because this is unlikely to be the case when the gender roles are reversed. 

 

Secondly, we are talking about immigrating, and permanent residency indicates a step to permanently migrate here. Most foreigners, even those with families and children have no interest in integrating or becoming Thai citizens, they just want to remain in Thailand and think they should have the right to do so. Most of them would not even qualify even after many years living here, they do not speak, read or write the language, don't eat the local food and are not interested in assimilating into the local culture.

 

For me, the rules are fine the way they are.

[AlfHuy]

51 minutes ago, Peterw42 said:

If you are under 50, there isnt a lot of options to pay an agent. Maybe a couple of years on an education/volunteer visa, once those expire there is no magic pay an agent option

Is "taking care of the lonely ladies" or educating the "lonely ladies" a possibility to get an education visa?

Asking for a friend.

[AlfHuy]

31 minutes ago, Peterw42 said:

Its still reasonable value compared to many of the places we come from. 5m baht is $200,000 in AU dollar terms, that wouldn't buy you anything in Australia.

In Azerbiyan, you get a lot for this kind of money.

[Mr Meeseeks]

25 minutes ago, Spellforce said:

Nothing has been voted yet, but that's a good news they start to think about the long time residents and their visas.
I hope next step will be to think about all the residents; not only the new ones.
They already thank us during those difficult covid times, but something about a special resident visa would be much better.

There is already a special resident visa, it is called permanent residency and is applicable to those wishing to emigrate to Thailand and as a step towards obtaining citizenship.

 

For everyone else, there's a non-immigrant visa option that is dependent on your status; retired, working, married, kids etc. As it should be, and it is really easy (and cheap) to obtain and maintain, which is the most important consideration.

 

Let's be brutally honest here, if you are 60yo from the UK, retired and married a Thai lass and living in Thailand, you are not really an immigrant anyway are you? You gonna learn to speak the language, eat the local food, adopt local customs? I don't see it. You are too old to be productive or work in most industries in Thailand at that age anyway.

[bluesofa]

3 minutes ago, AlfHuy said:

Is "taking care of the lonely ladies" or educating the "lonely ladies" a possibility to get an education visa?

Asking for a friend.

Oh you mean an SED visa - Sexual EDucation visa?