10 Million Investment Visa

[YanTree]

I have my visa situation taken care of for the next two years. However in two years I will need a new Visa class. I am currently purchasing a condo for 6,000,000 THB. If at some point in the next two years I purchase another condo for 4,000,000 THB or more, or otherwise invest 4,000,000 THB into an approved mechanism, will I then qualify for the 10,000,000 THB investment visa at that time (assuming such a visa still exists)? To put it another way, must the 10,000,000 THB all be invested at one time in one investment or can it be invested at different times in different investments? And must you immediately apply for that visa upon investing the money or can you apply for it at any time after having invested the money? Say I bought a 5,000,000 THB condo two years ago and another 5,000,000 THB condo a year ago - could I go today and qualify for the investment visa?

I have already read the immigration provisions covering this Visa and the various TV threads on this Visa, they do not answer this question.

Thanks in advance for any tips or experience.

[lopburi3]

And nobody but Immigration can answer your question (and probably only when you apply). What they allow will be up to them at the time of application.

[YanTree]

And nobody but Immigration can answer your question (and probably only when you apply). What they allow will be up to them at the time of application.

Thanks for that, I'm taking it from your reply that the rules are somewhat flexible and determined on a case-by-case basis. I disagree however that nobody else could answer the question when I asked for people's own experience. If a member here applied under circumstances similar to my own, that information would be very valuable to me - whether they were accepted or rejected etc, even if I may get a different answer when I myself apply.

Cheers

Edited March 23, 2010 by YanTree

[lopburi3]

I just hope you would feel the same when you got the different answer and really not be after the person "who told you different".

[Soutpeel]

I always thought the THB 10mill investment visa, was to do with investing 10 milion in goverment bonds, not property ??....could be wrong ??

[lopburi3]

The current rule, from Police Order 777/2551, is below. But who knows what it will be two years from now.

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.

[YanTree]

I always thought the THB 10mill investment visa, was to do with investing 10 milion in goverment bonds, not property ??....could be wrong ??

You can invest in condo's. When, how many, new/used are all pretty unclear details - but it is not limited to bonds.

[Lite Beer]

I think at 10 M Baht you will be hard pushed to find any one who has done it.

I have never seen a report on here or anywhere else of this being done.

We will wait and see.

[YanTree]

I just hope you would feel the same when you got the different answer and really not be after the person "who told you different".

Not after you have explained it is essentially case-by-case. Just would like to know people's experiences. Thanks.

[Lite Beer]

This may or may not help.

Scroll down to 2.5.B

[YanTree]

This may or may not help.

Scroll down to 2.5.B

Thanks. This helps but I have seen this 100 times. It does not address the specific question I have asked though - which relates to the number of investments that can makeup the 10,000,000 THB and when those investments must occur in relation to each other and in relation to when you apply for the Visa.

2.5.B for anybody who has not seen it:

B. Investment of no less than Baht 10 million:

1. Application form

2. Copy of applicant’s passport

3. Copy of evidence showing a transfer of funds from a foreign country to a bank in Thailand

4. Copy of a condominium purchase agreement and a copy of the ownership registration of said

condominium issued by the government or relevant agency (in the case of purchase of a

condominium) or a copy of a long-term lease agreement; or

5. Funds deposit certificate issued by a bank and a copy of evidence of the funds deposit (only in

the case of investment in funds deposit); or

6. Copies of bond certificates (only in the case of investment in a purchase of government or state

enterprise bonds)

That could be easily expanded by immigration to be a couple of pages to address specific questions like mine. There are gaping loopholes in the above requirements that could technically qualify or disqualify all sorts of people.

Edited March 23, 2010 by YanTree

[rgs2001uk]

I think at 10 M Baht you will be hard pushed to find any one who has done it.

I have never seen a report on here or anywhere else of this being done.

We will wait and see.

I looked into this at one time a few years ago.

It in my opinion was only of any use to those under 50 and unable to qualify for a retirement visa, or unmarried and unable to qualify for an extension based on marriage.

If you are single and under 50 it may well be your only hope of a visa, I am also pretty certain the visa is only for 1 year at a time and must be extended each year and subject to the restrictions of it being issued in the first place.

A multi non imm o visa seems to be the best bet for those either unable to or unwilling to tie up such a sum of money.

[YanTree]

I am also pretty certain the visa is only for 1 year at a time and must be extended each year and subject to the restrictions of it being issued in the first place.

My understanding is that this is accurate. It is also my understanding that you can renew it indefinitely once you get it and so long as you maintain the requirements under which you obtained it. So in this regard it is very much like the retirement or marriage visa.

The other options for an unmarried person under 50 are the ED visa and a Work Permit - both of which require a time commitment obviously. The Investment Visa is attractive to me because it does not - and because I am not 50 or married

Edit: The other option is Thailand Elite - but they have been having some problems...

Edited March 23, 2010 by YanTree

[johnnok]

Was looking for more information about this. And I found a interesting blog: Bangkok based lawyer Rene Philippe talking about the Investment Visa http://www.doingbusinessthailand.com/thail...tment-visa.html

I quote from his article:

***************************************

The foreign investor that wishes to obtain a one year visa investment must:

(1) have been granted a non-immigrant visa (Non Immigrant); and

(2) have evidence of transferring funds into Thailand of no less than Baht 10 million; and

(i) have evidence of investing in the purchase or rental of a condominium unit for a period of no less than 3 years issued by a relevant agency or government, at a purchase or rental price of no less than Baht 10 million; or

(ii) must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent of its shares; or

(iii) must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; or

(iv) must have evidence of making an investment as set out in criteria (3), (4), or (5) with a total value of not less than Baht 10 million.

***************************************

So sounds like one can split the 10 millions in a mix of different assets.

Still wondering about a few things: any idea if there's any taxation on overseas income if you live in Thailand with that investment visa?

[lopburi3]

If you live in Thailand world wide income is taxable - but policy is that only funds remitted in year eared are actually taxed.

As for your shopping list above they are various options not that you have them all. It will be up to Immigration as to what thy may accept so be very sure with direct contact before doing anything.

[johnnok]

If you live in Thailand world wide income is taxable - but policy is that only funds remitted in year eared are actually taxed.

As for your shopping list above they are various options not that you have them all. It will be up to Immigration as to what thy may accept so be very sure with direct contact before doing anything.

Thanks for your reply.

Was hoping for an exemption. Well, we'll see then...

[lopburi3]

Most people just don't bring funds in during the year they were earned and live on savings.

[DavidBrown]

Im about to buy a condo (for 5 million baht- Ill potentially spend another 5 million later) and was wondering- do I need to do anything differently to qualify for an investment visa later? Should I just concentrate on the condo now and deal with that later? Thanks. Sorry, I hope I didnt hijack the thread...

[Mario2008]

The criteria are mentioned in post number 6.

The criteria do mention a possibility of combination of investments.