Residency Permit

[yim noi]

I have researched this site about the process you have to go through to apply for a residency. But I cannot see anywhere which says what are the benefits. I see it says it makes it easier to be a company director of your own company and work permits are easiers - but what else? 190,000 baht is a lot of money and I wanted to make sure first that I will get something out of it!!

Thanks for your time.

[PvtDick]

You can stay permanently in the Kingdom forever without leaving (if you want to), and without having a work permit or to prove any particular level of retirement funds. You can also apply for citizenship after five years.

[Dutchy2]

I have researched this site about the process you have to go through to apply for a residency. But I cannot see anywhere which says what are the benefits. I see it says it makes it easier to be a company director of your own company and work permits are easiers - but what else? 190,000 baht is a lot of money and I wanted to make sure first that I will get something out of it!!

Thanks for your time.

You still need a workpermit, you still need permission to leave, you will still be overcharged at national parks because you are a farang. (heard it recently from a permanent resident)

If you forget to apply for a reentry permit at the airport you'll be a tourist again when you return.

Permanent residency is interesting, but depending on the country. If you earn decent money I woudln't apply for PR in Thailand. There's absolutely no use. If you can not meet visa requirements it could be a wise decision. On second thought, this would create the situation that people apply for PR because they can't meet visa requirements. Thailand will get quality residents... that's interesting...

Dutchy

[PvtDick]

You still need a workpermit, you still need permission to leave, you will still be overcharged at national parks because you are a farang. (heard it recently from a permanent resident)

If you forget to apply for a reentry permit at the airport you'll be a tourist again when you return.

Permanent residency is interesting, but depending on the country. If you earn decent money I woudln't apply for PR in Thailand. There's absolutely no use. If you can not meet visa requirements it could be a wise decision. On second thought, this would create the situation that people apply for PR because they can't meet visa requirements. Thailand will get quality residents... that's interesting...

Dutchy

You still need a workpermit.

Correct.

you still need permission to leave

Yes. One stamp a year for multiple re-entries.

you will still be overcharged at national parks because you are a farang. (heard it recently from a permanent resident)

Depends on the discretion of the gate keeper. I have been admitted at "Thai" price when showing my PR book. In any case, with the number of national parks I visit (MAYBE one a year?), this is not really a big deal.

If you forget to apply for a reentry permit at the airport you'll be a tourist again when you return.

As noted, you get one multiple re-entry stamp each year, at immigration not at the airport. I think most people can handle that.

PR eligibility is quite selective, so I don't think they are having "quality" problems. The only people I know here with PR are respectable people with respectable jobs and respectable incomes.

For me, I am glad to have PR and it is certainly worth the 50,000 I paid for it (I got it before the rates went up). It gives me peace of mind that if I lost my job, I would not be booted from the country. And, also, that I will be free to retire and stay on if I make enough money before official "retirement" age.

[Dutchy2]

For me, I am glad to have PR and it is certainly worth the 50,000 I paid for it (I got it before the rates went up). It gives me peace of mind that if I lost my job, I would not be booted from the country. And, also, that I will be free to retire and stay on if I make enough money before official "retirement" age.

I agree, the peace of mind is a great selling point. They sure will make new applicants pay for it. Australia accepted approx. 120.000 permanent residents last year, Thailand accepted 9 non Asians permanent residetns. Must have been a quality nine then...

Cheers,

Dutchy

[Bobcat]

I think that the peace of mind factor is one of the most compelling. With PR you do not need a visa to reside permanently in Thailand and are not required to make the 90-day notifications at the immigration department. Work permits are still required. Other benefits include:

(a) it starts the clock ticking for citizenship. You can apply for Thai citizenship once you have had PR for 5 years and meet the other qualifications. Once you have Thai citizenship, you can own land, vote, be a Thai shareholder and do not need a work permit.

( You can continue to reside even if you lose your job and your work permit. Without PR, a person working here on a work permit is supposed to leave the country within 7 days of his/her work permit being cancelled.

© You can borrow money from a bank. You can get a mortgage.

(d) If buying a condo, you do not need to show that the money has come in from abroad.

Also, I would like to point out that the assertion that only 9 non-asians were given PR last year is a non-confirmed rumour. I have spoken to several people at immigration who say this this is incorrect. Decisions on the 2003 applicants have not yet been released.

Cheers,

Bob

[bluebear]

Decisions on the 2003 applicants have not yet been released.

Good to see the usual fast processing from a government branch. 7mths + and the folk still dont know????

[Bobcat]

PR is basically a one-year process. Applications are accepted in December of each year - usually the last two weeks of December. Interview takes place around March of the following year. At my interview (in March 2004) I was told that results would be released in October/November of 2004. I have since heard, however, that the results of the 2004 applications may be released as early as August.

[bluebear]

Sounds like the usual stupid civil service lets do the easy thing the most complicated possible way strategy.

You either have the papers and make the qualifications or not. The interview should surely just be little more than a rubber stamp. Especially if there are so few applicants.

But theres me putting logic into a situation again.

[Dutchy2]

(a) it starts the clock ticking for citizenship.  You can apply for Thai citizenship once you have had PR for 5 years and meet the other qualifications.  Once you have Thai citizenship, you can own land, vote, be a Thai shareholder and do not need a work permit.

© You can borrow money from a bank.  You can get a mortgage.

Even without being a citizin you can buy land, buying land is only not allowed for those not willing or able to invest substantially.

you can also borrow money from the bank with a non imm B visa like we did.

Dutchy

[Felt 35]

And, also, that I will be free to retire and stay on if I make enough money before official "retirement" age.

Fantastic!

[Bobcat]

Yes, a foreigner can buy land not exceeding 1 rai for residential purposes as long as the investment is at least THB 40 million. I'd rather have the flexibility of owning a larger piece of land. I'm not sure about the mortgage loans - but my understanding is that the funds for a condominium must come from abroad - so a mortgage would appear to upset this requirement. Also, the terms for foreigners are not as favourable as for Thais or PR. I would be interested in hearing from any foreigner who has obtained a mortgage loan to purchase a condo in Thailand.

[boris]

Sounds like the usual stupid civil service lets do the easy thing the most complicated possible way strategy.

You either have the papers and make the qualifications or not.  The interview should surely just be little more than a rubber stamp.  Especially if there are so few applicants.

But theres me putting logic into a situation again.   

Unfortunately this is a basic misunderstanding of how PR applications are decided.It is not a question of virtually automatic approval if the applicant meets the minimum requirements.My information is that the majority of successful applicants are quite substantive businessmen, academics,investors etc who have in most cases been working legitimately in the Kingdom for several years.

[Dutchy2]

I would be interested in hearing from any foreigner who has obtained a mortgage loan to purchase a condo in Thailand.

I know some people who did, they registered it on their wives name initially. The mortage is shared on both names. After paying off the mortage the wife can transfer the condo for peanuts to the husband. The funds must come from abroad however, what if she'd sell it for one dollar to her husband? Nothing wrong with that.

We bought a house with shared mortgage, mortgage from AIA, they had several other farangs there with mortgages. It's not a real problem anymore, only those transferring stories and putting assets on other people's name is a bit irritating. Very Thai and very dishonest but Thaksin leads the way in this kind of behavior...

Dutchy

[PvtDick]

I took out a mortgage when I bought my condo here. The bank arranged for the money to be "sent in" from one of their branches overseas, thus satisfying that requirement for me.

[yim noi]

You can stay permanently in the Kingdom forever without leaving (if you want to), and without having a work permit or to prove any particular level of retirement funds. You can also apply for citizenship after five years.

Thanks everyone for your replies. I just wanted to clear up one of the contradictions which is important to my peace of mind. It is always at the back of mind that if I lose my job I have to rush to find another in only a few weeks or I will lose my visa.

If I have a PR, and I lose my job, is there any pressure to find another job or can I live off my savings for as long as I like?

[sabaijai]

No pressure at all. None of the folks I know who have PR have jobs or work permits, they're living off savings and/or investments -- and without having to meet any account minimums.

[RDN]

Yes, a foreigner can buy land not exceeding 1 rai for residential purposes as long as the investment is at least THB 40 million.

40 million baht house on less than one rai? What is it - solid gold or ten storeys?

[LivinLOS]

No... Just one of many many houses down here on Phuket with a sea view...

I enquired about an 800m sq building plot the other day... 15m !!! 30m/rai for the ground before the house goes on it !!

[paulfr]

Here is the info you want ....

http://www.thaivisa.com/300.0.html