Condo, visa

[Stevieboy]

Is it true if you buy a Condo for over BT3Million you can get a One Year Visa?

Also can you buy a condo if you are in Thailand on a Tourist Visa or do you need a Non Immigrant one ?

Thanks in advance  

[dr_Pat_Pong]

That is the present situation on condo's. You'd be much better off with a Non Immigrant visa. It is debatable whether Immigration could or would issue a Non Imm visa. A Tourist visa cannot be extended that long.

[mokwit]

Are there any other options like this? eg I know that if you deposit Bt3m from overseas in Krung Thai Bank you get an instant 1 year visa (a friend did this). I currently have more than Bt Bt3m in a Thai stock brokerage account and can show a similar amount in Thai banks (all documented earned here not imported). Would this assist me in getting a one year Non B multiple entry or ! year? I read somewhere on this board that you can get a 1 year Non B from Malaysia if you can show Bt1m in  a Thai bank. Any experience of formal or informal (but 100% legit) options along these lines?. I am not going to risk my capital on starting a business under the current anti foreigner climate and am not married to a local (came close once).

[JonnieB]

is not there also the requirement that the condo be new...in the sense that it is new construction and not a resale of a previously owned condo.  a friend of mine went the condo route a couple years ago but he didn't know about this rule and bought a resale and therefore he is still doing visa runs  ???

[dr_Pat_Pong]

Mokwit...take the evidence of funds etc to the one stop visa office at the Thailand Board of Investment. No guarantees at all, but you may just pull it off....so to speak      

[lopburi3]

Mokwit...take the evidence of funds etc to the one stop visa office at the Thailand Board of Investment.

I don't follow the condo rules as would never, ever, consider buying but isn't the money required to come from outside Thailand?  Believe he said his money was local made.

[dr_Pat_Pong]

You are correct Lop...I read it too fast. Sorry. Back to the drawing board Mokwit.  Are you free to send the money home and bring it back ? The one million in the bank story is just that, a story.

[mokwit]

Not 100% sure, but suspect still feasible as although no longer working and therefore no longer have work permit, I have copies of front page of all previous work permits plus evidence of salary from companies. Do not want to park funds in Krung Thai Bank or buy condo. Looking for official status as investor living off investments in Thailand (+abroad also) but do not want to incorporate.

[dr_Pat_Pong]

Check with Sunbelt ...a sponsor here with a direct link on our opening page. Put your case to them. They are pretty good at this sort of thing. It is nevertheless worthwhile going to the BOI anyway and ask for guidance. What is your present visa status ?

[percy2]

Unfortunately Dr. P you are wrong again.

The law has been ammended. Cant find a govenrment source for this but I'm sure you'd accept that the good lawyers down at Tilleke and Gibbins khow what they are talking about.

http://www.tillekeandgibbins.com/Publica....aws.htm

Actually the answers to most questions raised on this board can be found at their site.

[percy2]

to make it easier for everybody

Before recent changes to the Condominium Act, foreigners could own up to 40 per cent of the units in a condominium building.

    Under the recent amendment, foreigners can now own up to 49 per cent, and for the next 5 years can own up to 100% for condominium buildings located on less than 5 rai in Bangkok, municipal areas in other provinces, or other areas specified from time to time.

    In another change, foreigners with bank accounts in Thailand can now use funds from their local accounts to purchase condominiums. In the past, funds used by a foreigner to purchase a condominium had to be brought in from a foreign country specifically for that purpose.

    For some long-time foreign residents whose banking and investments were primarily in Thailand, this created an obstacle to buying a condominium here.

    This obstacle was sometimes overcome by the foreigner remitting funds from local accounts in Thailand to a foreign country, then transferring the money back into Thailand and designating it specifically for purchasing a condominium.

[dr_Pat_Pong]

Do not want to park funds in Krung Thai Bank or buy condo. Looking for official status as investor living off investments in Thailand (+abroad )

Welcome back Percy. This guy doesn't want a condo or to tie up his money in the bank. He wants a visa. Sunbelt are an A1 source of information.

[percy2]

Dr. P,

I think the original poster does want a condo.

[percy2]

To get a visa through the BOI I think the general idea is to encourage people to invest in to Thailand.

If the money is already here I don't think they will be so accomodating.

imo.

Mockwit ,

The name reminds me of one of my favourite little sayings as I pass security guards "who is the phuckwit with the nockwit"

How old r u?

[mokwit]

Hope I have not hijacked the original posters thread. I am not looking to make investments in small businesses. I would be an "investor" as my funds would be in a stock brokerage account and would show a holding in stocks, although any one stock is not usually held for more than about 2 weeks. My query was that if someone can get a one year visa for depositing Bt3m in KTB or buying a Bt3m condo, even if no formal avenue for stock market investors, would it be possible to get a one year NON B from one of the more acomodating consuls on te grounds that I need to be in Thailand to overse my stock market investments. Am under 40 so 10 years + away from retirement visa

[dr_Pat_Pong]

Where are you located Mokwit ?

[mokwit]

British, currently located in BKK

[dr_Pat_Pong]

When are you back in the UK ?