Investment Visa

[annabel]

I was told that an old rule was now back into effect being that if you buy a condomenium or house worth X Million Baht that you can get an Investment Visa. Anybody know anything about this and what are the advantages of such a Visa versus having a Retirement Visa .....??

[Mario2008]

The investmen t visa requires you to invest at least 10 million Thai baht. So you have to set more money aside then with an extension of stay based on retirement: only 800,000 in the bank.

For investment the purchase of a condo of 10 million is also considered an investment. As long as the money comes from abroad.

[annabel]

The investmen t visa requires you to invest at least 10 million Thai baht. So you have to set more money aside then with an extension of stay based on retirement: only 800,000 in the bank.

For investment the purchase of a condo of 10 million is also considered an investment. As long as the money comes from abroad.

Thanks....But do you mean that if someone gets an Investment Visa after purchasing a 10 miilion Baht Condo with funds from abroad. They STILL need a retirement Visa...?? That's crazy .....what's the point then of investing this 10 Mil and still have to get retirement visa..?? Sorry but I don't get it ...?

[Tawai]

The investmen t visa requires you to invest at least 10 million Thai baht. So you have to set more money aside then with an extension of stay based on retirement: only 800,000 in the bank.

Thanks....But do you mean that if someone gets an Investment Visa after purchasing a 10 miilion Baht Condo with funds from abroad. They STILL need a retirement Visa...?? That's crazy .....what's the point then of investing this 10 Mil and still have to get retirement visa..?? Sorry but I don't get it ...?

I suppose Mario ment to write than rather as then.

[annabel]

The investmen t visa requires you to invest at least 10 million Thai baht. So you have to set more money aside then with an extension of stay based on retirement: only 800,000 in the bank.

Thanks....But do you mean that if someone gets an Investment Visa after purchasing a 10 miilion Baht Condo with funds from abroad. They STILL need a retirement Visa...?? That's crazy .....what's the point then of investing this 10 Mil and still have to get retirement visa..?? Sorry but I don't get it ...?

I suppose Mario ment to write than rather as then.

Thanks Tawai, but my question still is What are the advantages of having an investment visa instead of a retirement visa ....? Is an investment visa for a period of one year and then you just renew it ....? Can you work if you have an investment visa.....I just want to know the pros and cons ...of investment versus retirement other than the amount of money required ...

[Priceless]

The investmen t visa requires you to invest at least 10 million Thai baht. So you have to set more money aside then with an extension of stay based on retirement: only 800,000 in the bank.

Thanks....But do you mean that if someone gets an Investment Visa after purchasing a 10 miilion Baht Condo with funds from abroad. They STILL need a retirement Visa...?? That's crazy .....what's the point then of investing this 10 Mil and still have to get retirement visa..?? Sorry but I don't get it ...?

I suppose Mario ment to write than rather as then.

Thanks Tawai, but my question still is What are the advantages of having an investment visa instead of a retirement visa ....? Is an investment visa for a period of one year and then you just renew it ....? Can you work if you have an investment visa.....I just want to know the pros and cons ...of investment versus retirement other than the amount of money required ...

May I suggest that you turn to the TV Visa Forum. That's where you (not unexpectedly) find the experts on these matters.

/ Priceless

[Mario2008]

Moved to visa section.

[Lite Beer]

This is what the law says. You reapply for the 12 month extension every year. As long as you still qualify..

B. In case of an investment of not less than 10 million baht.

(1) The alien has obtained a temporary visa (NON-IM)

(2) Proof of money transfer to Thailand of not less than 10 million baht.

(3) Proof of investment to purchase or rent for a period not less than 3 years of unit in a condominium from an agency or government agency concerned at a price of not less than 10 million baht.

(4) Proof of investment in the form of a fixed deposit of not less than 10 million baht with a bank registered in Thailand with Thai shareholders comprising more than 50% of its shareholders.

(5) Proof of investment to purchase government or state enterprise bonds with a value of not less than 10 million baht or

(6) Proof of combined investments as set out in clauses (3),(4)

Or (5) having a total value of not less than 10 million baht.

[monty]

The investment extension works the same way as a retirement extension, but without a minimum age, and the level invested has to be 10 million or higher.

The investment can be spread over several vehicles, e.g. a 5 million Baht condo together with 5 million in a government bank (Krung Thai).

The condo is only accepted if bought first hand, meaning directly from the developer. Buying a condo from another person does not count towards the 10 million.

The biggest difference with the retirement extension lies in the fact that, when on a investment extension, the money in the bank cannot be withdrawn during your stay in Thailand, whereas with a retirement visa you are allowed to draw on the 800,000 as long as you bring it up to 800,000 again when you re-apply after 1 year.

On an investment extension you can apply for a work permit.

You still have to report at immigration every 90 days to confirm your address.

---edit---

As per LiteBeer's post, it seems that the requirement of the condo being bought first hand is dropped. Apparently if I interpret rule nr.3 correctly, even an officially registered lease of not less then 3 years can also count towards the 10 million!

[ubonjoe]

You can get permanent residency with an investment extension also.

Retirement you cannot.

[astral]

Remember to factor in past and predicted future exchange rates when doing your sums!!

[annabel]

Thanks to all for the info ...this gave me a much clearer picture ...

I thought I had posted this in visa section...? sorry about that