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Posted

Hi. Ive looked for the answer here but cant find it... I plan to buy a condo soon (5 million baht) which wont qualify me for an investment visa yet but might help eventually. In order to get an investment visa in the future, do I need to do anything differently, or simply buy the condo in the usual way? Thanks very much everyone.

Posted

Personally I would not invest that money here unless you plan on living or retiring here. What is the purpose of your planned investment and How do you think that it may help you in the future?

Posted

Your purchase of a condo (or a house in a company name for that matter) has nothing to do with an Investment Visa

I would do a search here and familiarize yourself with the conditions of an Investment Visa before you make a mistake you will regret eventually

Posted

It seems all the new people are the first ones to jump on the I am going to buy a condo here in Thailand

If you do your research you will change your mind

This subject has been beat to death over the years

However condo owners not maintaining the buildings, glutton of new condos every year and the fact that most thais do not buy used housing means you have no investment at all

The other thing worth anything here is land

You would be 100 times better off buying a house in you need a place to live with land than a condo

The condo won't help your case one bit

Posted

I am fairly happy with my condo purchase and definitely would not want to own a house in Thailand, even if legally possible. Different people want different things; don't generalize so much.

As far as the investment visa, here is some info, but frankly if I was the OP and ready to spend this amount in hope of this visa, I would be seeking expert professional advice, probably not listen to the chatter on a forum. Usually this forum is very good, but that really is a lot of money and it would be a shame to make a mistake and have it not qualify for the visa.

http://www.doingbusinessthailand.com/thailand-visa-and-work-permit/thailand-visas/thailand-visas-the-investment-visa.html

Posted

The official regulation is contained in Police Order 777/2551 (pinned under useful information or easy Google). And condo is the only type of housing that would be useful for this program.

(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.

Posted

I recall the old investment visa required the condo to be original construction. I would be concerned if I was the OP that the investments he is making are indeed qualified investments.

Posted

"I recall the old investment visa required the condo to be original construction. I would be concerned if I was the OP that the investments he is making are indeed qualified investments."

Thanks Jingthing- can anyone confirm if this is correct?

Posted

"I recall the old investment visa required the condo to be original construction. I would be concerned if I was the OP that the investments he is making are indeed qualified investments."

Thanks Jingthing- can anyone confirm if this is correct?

Ummm. I can.

See the second bullet point on the DISCONTINUED visa option (the defunct 3 million baht investment visa).

http://www.sunbeltlegaladvisors.com/Thailand-Investment-Visa.php

That link is also a clue on who you might want to consider contacting to verify your plans, though their help won't be free.

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