Non Immigrant (Ib) Investment And Business Visa

[Fila]

Hi,

I have a new question this morning. I came across a Non Immigrant (IB) Investment and Business visa during my searches on the internet. I called two law firms to ask for more details RE this visa. One seems to think that this visa is not valid anymore. And another law firm seems to think that it is still valid.

Any ideas from you whether it is still valid or not? By the looks of it, expats use to get it if they bought a property in Thailand.

[InterestedObserver]

1. The Non-Immigrant "IB" visa is still listed on the Ministry of Foreign Affairs website.

2. Expats cannot own (buy) land in Thailand without at least a 40 million baht investment in a Board of Investment approved project..

Edited July 15, 2011 by InterestedObserver

[A_Traveller]

The confusion is that there were some lower value investment visas on offer for a period of time after the '97 crash. These were then terminated with, after much complaint, a grandfather arrangement to allow the extant visa to retain validity.

There are conditions on what may be bought or the asset class that is approved for the issuance of such a visa.

On the 'property' point, a condo bought direct from the developer was an approved asset for visa issuance.

Regards

Edited July 15, 2011 by A_Traveller

[JeffreyMcCollum]

For condo investment it was at 10m Bt with 1 title dead

[InterestedObserver]

For condo investment it was at 10m Bt with 1 title dead

I believe you are referring to an extension of stay from immigration, not the actual "IB" visa.

[terak69]

A visa we don’t hear much about but which might prove popular with those rich types that have retired and for whatever reason don’t qualify for or don’t want a retirement visa, is an “Investment Visa” (type IB or IM)

Basically, to qualify the applicant must prove that

a) they brought B10 000 000 (ten million) into the country

the money has been invested in one or a combination of

a) condo / apartment

fixed account in a Thai bank

c) government bonds

[lopburi3]

That requirement is for extensions of stay from Immigration as below under police order 777/2551 section 2.5. IM is short for "immigrant" as in non-immigrant (NON-IM).

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.

[jay1980]

Does anyone know the % return on 'government or state enterprise bonds' accepted for this type of visa ?

Also can the condo be one already purchased several years before?

thanks

[Mario2008]

Does anyone know the % return on 'government or state enterprise bonds' accepted for this type of visa ?

Also can the condo be one already purchased several years before?

thanks

The investment can be several years old, as long as it is worth at least 10 million.

[jay1980]

can be say 2 Million baht condo and 8 million in 'government or state enterprise bonds' ?

many thanks for the information?

[tombkk]

A visa we don't hear much about but which might prove popular with those rich types that have retired and for whatever reason don't qualify for or don't want a retirement visa, is an "Investment Visa" (type IB or IM)

Basically, to qualify the applicant must prove that

a) they brought B10 000 000 (ten million) into the country

the money has been invested in one or a combination of

a) condo / apartment

fixed account in a Thai bank

c) government bonds

That is also what I heard, with the additional info (rumour?) that this entitles youto PR rigth away.

Anyway, assuming that this regulation still exists, does anybody know about any foreigner who has received a long-term visa or even PR due to investment?

A friend asked me a couple of days ago about the investment visa, so I'm looking forward to learning.

[lopburi3]

I posted the Police Order 777/2551 requirements above (post 7). It is current information. And we have had posters on such extensions of stay posting here. But this is now an immigration run program and not a PR shortcut AFAIK.

[InterestedObserver]

A visa, extensions of stay and permanent residence are three entirely different subjects with entirely different qualification criteria. Useful information about the rules is pinned at the top of this topic for all to read.

[tombkk]

I posted the Police Order 777/2551 requirements above (post 7). It is current information. And we have had posters on such extensions of stay posting here. But this is now an immigration run program and not a PR shortcut AFAIK.

I saw your post. My question (which you did not quote) is whether this is still being applied.

[tombkk]

A visa, extensions of stay and permanent residence are three entirely different subjects with entirely different qualification criteria. Useful information about the rules is pinned at the top of this topic for all to read.

Noted the rules, but: Is the investment criterion still being applied in practice for one-year extensions of stay?

[Arkady]

A visa we don't hear much about but which might prove popular with those rich types that have retired and for whatever reason don't qualify for or don't want a retirement visa, is an "Investment Visa" (type IB or IM)

Basically, to qualify the applicant must prove that

a) they brought B10 000 000 (ten million) into the country

the money has been invested in one or a combination of

a) condo / apartment

fixed account in a Thai bank

c) government bonds

That is also what I heard, with the additional info (rumour?) that this entitles youto PR rigth away.

Anyway, assuming that this regulation still exists, does anybody know about any foreigner who has received a long-term visa or even PR due to investment?

A friend asked me a couple of days ago about the investment visa, so I'm looking forward to learning.

There is a category of PR application that is based on investment but the requirements are broadly similar to those for applying based on working in the Kingdom. The investor is expected to have invested in a business and be working in that business. So a work permit and salary tax receipts are required. That is also true for those applying under the category of supporting close family who are Thai citizens. The only approved means of support is working in the Kingdom and therefore a WP and tax receipts are required. The bottom line is that it is easiest to apply under the category of working in the Kingdom.

The Board of Investment has periodically offered a promotional service for expatriates working for BoI promoted or other qualified companies. There are none currently on offer and the BoI proved ineffective at getting PR for their applicants anyway. (The service was on offer when I applied and when I went along and enquired about it the junior BoI officer told me frankly that I had a better chance to apply directly to Immigration).

I don't think there have been any PR categories linked to investments in recent years, other than the above and all of them require working in the Kingdom. The good thing about the B10 million investment visa though is that it allows you to work in the Kingdom!

[InterestedObserver]

A visa, extensions of stay and permanent residence are three entirely different subjects with entirely different qualification criteria. Useful information about the rules is pinned at the top of this topic for all to read.

Noted the rules, but: Is the investment criterion still being applied in practice for one-year extensions of stay?

Yes, per police order 777/2551 section 2.5.

[tombkk]

Anyway, assuming that this regulation still exists, does anybody know about any foreigner who has received a long-term visa or even PR due to investment?

A friend asked me a couple of days ago about the investment visa, so I'm looking forward to learning.

There is a category of PR application that is based on investment but the requirements are broadly similar to those for applying based on working in the Kingdom. The investor is expected to have invested in a business and be working in that business. So a work permit and salary tax receipts are required. That is also true for those applying under the category of supporting close family who are Thai citizens. The only approved means of support is working in the Kingdom and therefore a WP and tax receipts are required. The bottom line is that it is easiest to apply under the category of working in the Kingdom.

Thanks for the clarification. This is valuable information.

The Board of Investment has periodically offered a promotional service for expatriates working for BoI promoted or other qualified companies. There are none currently on offer and the BoI proved ineffective at getting PR for their applicants anyway. (The service was on offer when I applied and when I went along and enquired about it the junior BoI officer told me frankly that I had a better chance to apply directly to Immigration).

I don't think there have been any PR categories linked to investments in recent years, other than the above and all of them require working in the Kingdom. The good thing about the B10 million investment visa though is that it allows you to work in the Kingdom!

LOL! Yes, but my friend just wanted to invest in a condo and that's it. I guess it's not possible.

[tombkk]

A visa, extensions of stay and permanent residence are three entirely different subjects with entirely different qualification criteria. Useful information about the rules is pinned at the top of this topic for all to read.

Noted the rules, but: Is the investment criterion still being applied in practice for one-year extensions of stay?

Yes, per police order 777/2551 section 2.5.

Thank you for your contribution. Actually, my question was whether the police order is being applied in practice, kindly read my post.

[AleksaIva]

Hello! Does anybody make investment visa? I bought condo more than 10 mln.bat. And now I want to take such visa. Maybe you can advise a good law company which can help me to do it?

Edited November 28, 2011 by AleksaIva

[MJCM]

What about sunbelt ? They are a sponsor here

http://www.sunbeltlegaladvisors.com/

[AleksaIva]

What about sunbelt ? They are a sponsor here

Does this company has any branches on Phuket?

[ignis]

Confusing...... Appears many website and Law firms with dates of 2012 [say this as many also with very old info]

"There are two types of Business Visas in Thailand , Non-Immigrant Visa “B”which includes business and work, and the Three-year Non-Immigrant Visa “B” which is for Business Non working purposes only."

Appear on one you need only do the 90 day reporting + can get work permit, and the 2nd one you must leave and re-enter every 90 days + NO work permit on this one..

​Appears said Thai Firms supply all paperwork for a fee, you then take all the paperwork to Embassy/Consulate outside of Thailand............ Appears these are limited, nearest to Thailand.. Cardiff UK, Brisbane Aus, KL but must have book ? No idea what book is ? Some sites also list London, Holland and Melbourne

​ EDIT: I cannot open myself as it get blocked as Maleware http://www.mfa.go.th/web/2637.php

Edited April 30, 2012 by ignis

[lopburi3]

Link is not maleware - and the visa is for business travelers, rather than employment, to make there frequent travels easier but misuse for long stays makes it a problem obtaining at most locations.

Three-Year Non-Immigrant Visa “B” (Business only)

Foreign citizen who wishes to visit Thailand for business purpose may apply for a three-year Non-Immigrant Visa “B”. This type of visa may be issued to businessmen for multiple-entries and is valid for 3 years. It allows holder to visit Thailand as often as required for as long as the visa remains valid and allows holder to stay in Thailand for a period of not exceeding 90 days during each visit. Employment of any kind is strictly prohibited for holder of such visa.

Place of application

Application is to be submitted at the Royal Thai Embassy or the Royal Thai Consulate-General in the applicant’s country of residence, or at the Royal Thai Embassy which has jurisdiction over his or her country of residence. However, Royal Thai Consulate-General headed by Honorary Consul-General is not authorized to issue this type of visa. Applicant may enquire about authorized office for visa issuance at any Royal Thai Embassy or Royal Thai Consulate-General. Information on contact details and locations of Royal Thai Embassies and Royal Thai Consulates-General is also available at www.mfa.go.th/web/10.php

Required Documentation

Applicant for a three-year Non-Immigrant Visa “B” must submit the following:

Basic documents

1. An application form completed in full and signed by applicant.

2. A passport valid for travelling to Thailand with sufficient remaining validity.

3. Two passport-sized photographs (4x6cm) taken within the previous 6 months.

Additional documents which may be requested

4. National Identity Card, Residence documentation or valid proof of identity.

5. A letter from the employer giving details of the applicant’s position, length of employment, salary and purpose of the visit(s) to Thailand. If the applicant is self-employed, he or she must provide documentation of his or her business undertaking such as business registration and details of business operation.

6. Copies of correspondence with business partners in Thailand.

7. A letter of invitation from trading or associated partners/companies in Thailand.

8. Corporate documents of associated partners/companies in Thailand such as:

- business registration and business license

- list of shareholders

- company profile

- details of business operation

- map indicating location of the company

- balance sheet, statement of Income Tax and Business Tax (Por Ngor

Dor 50 and Por Ngor Dor 30) of the latest year

- value-added tax registration (Por Por 20)

9. A letter of recommendation from previous employer or business associations of which the applicant is member.

Visa fee

- The fee is 10,000 Baht.

Remarks

- The required additional documents (4 – 9) may be submitted upon request.

Supplementary documents may be requested as and when necessary.

- The issuance of visa is at discretion of the consular officer.

- Visa fee is non-refundable.