Which Visa Is Best For Buying A Condo/house?

[ssinlos]

I've been living in Thailand now for about 8 months and have recently started thinking about buying a property here (Condo/House). I' m aware of the broader rules regarding Condo vs House (land) ownership by Farangs.

I'm still however rather unsure about which visa would be best for the sole purpose of buying a Condo/House and living in Thailand permanently

I'm a 35 year old Australian without a Thai partner or Thai Children and I obviously don't qualify for the 'Retirement' visa. I'm also not currently working. My question is:

Am I able to set up a company that would then employ me and issue the 'work permit' for the purpose of owning a condo? would I then be able to actually work with that work permit or is there another type of visa alltogether (like an investment type visa) that would allow me to buy the condo and stay in Thailand? and if so what are the rules of such a visa?

I would appreciate any advice

[Jingthing]

You don't need any visa whatsoever to BUY a condo. You can buy it on a 30 day stamp. There is no investment visa option anymore. Your problem will not be buying a condo. Rather, it will be finding a way to legally live in the condo. You haven't stated any evidence you will be able to find one. I suggest a sober rethink. Cheers.

The Thai government doesn't really want younger farangs here unless they are opening productive businesses that employ Thais or have found employment that a Thai national cannot do. How do you fancy English teaching (if you are qualified)?

Edited January 15, 2008 by Jingthing

[ssinlos]

You don't need any visa whatsoever to BUY a condo. You can buy it on a 30 day stamp. There is no investment visa option anymore. Your problem will not be buying a condo. Rather, it will be finding a way to legally live in the condo. You haven't stated any evidence you will be able to find one. I suggest a sober rethink. Cheers.

The Thai government doesn't really want younger farangs here unless they are opening productive businesses that employ Thais or have found employment that a Thai national cannot do. How do you fancy English teaching (if you are qualified)?

Cheers for that. My other part of the question was also regarding 'setting up a company to buy a condo'. Does setting up a company entitle me to any visa options Eg. 'a work permit' as a director to manage that company? would the rules change if I'm able to show 'say' 30 million baht in assets/cash in Australia?

[Jingthing]

Cheers for that. My other part of the question was also regarding 'setting up a company to buy a condo'. Does setting up a company entitle me to any visa options Eg. 'a work permit' as a director to manage that company? would the rules change if I'm able to show 'say' 30 million baht in assets/cash in Australia?

You are much better off buying a condo in your own name, rather than a shell company. Setting up a shell company to buy a condo gives you no visa options.

If you have 30 million in assets, you do have another option. Buy a Thailand elite card (now 1.5 million baht) and you can get a 5 year renewable visa. There is no guarantee the program will allow you to renew in 5 years, but at least you would be covered for 5 years. Can someone confirm these elite cards can still be purchased? That doesn't give you a work permit though.

Edited January 15, 2008 by Jingthing

[dr_Pat_Pong]

Cheers for that. My other part of the question was also regarding 'setting up a company to buy a condo'. Does setting up a company entitle me to any visa options Eg. 'a work permit' as a director to manage that company? would the rules change if I'm able to show 'say' 30 million baht in assets/cash in Australia?

You are much better off buying a condo in your own name, rather than a shell company. Setting up a shell company to buy a condo gives you no visa options.

If you have 30 million in assets, you do have another option. Buy a Thailand elite card (now 1.5 million baht) and you can get a 5 year renewable visa. There is no guarantee the program will allow you to renew in 5 years, but at least you would be covered for 5 years. Can someone confirm these elite cards can still be purchased? That doesn't give you a work permit though.

They are still being marketed, but some of the 'benefits' have been taken away.

[sfokevin]

http://www.thailandelite.com/membership.php

[thaigene2]

The word conundrum tends to cover the situation for anyone under 50 I think. Even if they are married, they are still stuck in this 'prove you are a 'provider' situation' in order to live here more than 6 months a year. So on the one hand, there are very few jobs (as mentioned) that farangs can legally do here. On the other hand, they must find a way to 'provide' for their thai family. That's why so many give up on the idea and go home (with the "mia farang" and kids in tow). I reckon that's exactly how the govt wants it - and I don't see that changing whomever forms a government now or in the future

(see the poll results on this - others think the same it appears)

If you are neither rich nor retired with n income of a couple of thousand dollars per month++, you have very few options. That's why the conso market for foreigners has flagged (except the very top end - discretionary purchases for people who have money to burn).