Investment Visa

[hypnotized]

Has anyone gotten an investment visa (10 million baht)

If i come on a tourist visa and open a account and deposit 10 million baht

into a fixed account is this all I will need to show to immigration to get the visa?

[beechguy]

Not quite that simple, but look at item 2.5 in this link for extensions of stay requirements. http://www.immigrati...777-2551_en.pdf

Also, for obtaining a visa, look under Non-Immigrant Visas, Documents Required, it says a letter from the Board of Investment is required for an"IB" Visa. http://www.mfa.go.th...482.php?id=2489

[Maestro]

That's right. Clause 2.5 of Police Order 777/2551, it is. For the documents to be submitted, see clause 2.5 of Immigration Bureau Order 305/2551

[AyG]

It's been a few years since I did this, but:

(1) You do need to have an existing visa - not just stamped in for 30 days on arrival.

(2) You need to cancel the existing visa before applying for the investment one.

(3) First you need to open a Krung Thai savings account and transfer the money to that. Only then can you open the fixed deposit account. (Funds can't go direct into a fixed account from abroad.)

(4) You need two letters from Krung Thai Bank - one stating that the funds came from abroad, the other stating the current balance. Both letters must be recent (2-3 days, perhaps) and issued by the branch which holds your accounts. You'll need both these letters each year you extend.

[hypnotized]

Thank You

[johnnok]

Hi,

I read on sunbelts' site: "Second hand condominiums are not eligible for this visa type." (investment visa)

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

That's not true right? Even second hand condos are eligible as long as they cost more than 10million?

[Mario2008]

Required docuemnts for 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)

[johnnok]

Hi,

I read on sunbelts' site: "Second hand condominiums are not eligible for this visa type." (investment visa)

http://www.sunbeltle...stment-Visa.php

That's not true right? Even second hand condos are eligible as long as they cost more than 10million?

Sunbelt has now updated its page and deleted the sentence , so I guess second-hand condos are eligible.

[MontrealFarang]

Question about the investment Visa (which doesn't need its own thread)....

The Visa one receives is a one year Visa that they just keep stamping once a year as long as remain a desirable guest? Anyone know of any stories of people buying condos and then getting refused Visa a few years in?

What's a safer route, investment Visa buying a condo or try to buy some equity in a Thai business? When I say safer, I mean preservation of capital.

[Mario2008]

Your question about what is safer is better ask in the business section.

[johnnok]

Question about the investment Visa (which doesn't need its own thread)....

The Visa one receives is a one year Visa that they just keep stamping once a year as long as remain a desirable guest? Anyone know of any stories of people buying condos and then getting refused Visa a few years in?

What's a safer route, investment Visa buying a condo or try to buy some equity in a Thai business? When I say safer, I mean preservation of capital.

Actually you have more choices than condo or thai business:

(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.

Source:

Investment visa - doinbusinessthailand.com

Fixed deposit (bounds...) is probably a safer option than a condo or a company.