Investor / Tourist / Retirement Visa Inquiry

[lannarebirth]

Good evening. I'm a retired American citizen 48 years and 4 months of age, living here in Thailand. I initially came here 2 1/2 years ago on a multiple entry tourist visa good for 3 x 60 day stays. When that expired I needed to get a Non Immigrant visa. As I do not have a company here, nor am I employed, nor am I married, I opted to get an "investors" visa. It required that I have 3 Million Baht on deposit with the Federal Bank at the time of Visa application. I was specifically told by an immigration officer at that time it need not remain on deposit throughout the year. During the course of the year I used that money to invest in property here in Thailand. Some of which I still own, others I've sold. When it came time to renew that visa I redeposited 3 Million Baht in the account and went in for my extension. I was charged a 20,000 Baht fine for not leaving the money on deposit and was asked to sign a form stating I would leave the money on deposit throughout the year (something I was never asked to do the first year). Well, anyway, I took that money out too and invested it in properties and now it's time to renew again. I have the 3 million to redeposit and if there's a fine I'm prepared to pay it, BUT I can't help but think there's another, better option for me.

Friends have suggested I go to Penang and get another 3 entry tourist visa and extend each time for one month, solving my visa issue for 9 months (departing the country twice). That's OK as far as it goes, but 9 months after all that is over, I'll be 50 years old and I'd like to file for a retirement visa, which I'm told requires that I already have a non immigrant visa, which I won't have anymore. The truth is, if I get the investor class visa again and pay the fine I'll remove the money again. My Thai friends say I may be creating bad will, that may affect the consideration of my retirement visa down the road.

Can anyone suggest to me a possible course of action that doesn't tie up too much money and keeps me on the right side of the authorities?

One suggestion I received (since I have a Thai Drivers License and own a car in my name), is that I go to Penang and ask for a non immigrant visa, showing them I have plenty of money on deposit, but not enough for the investors visa. Since a non immigrant visa is required to own a car, my friend thought they might issue me one. Any and all suggestions appreciated.

Thanks,

Ken

[lopburi3]

The rules, available on immigration web site:

Conditions for permission

The foreign national must permanently possess the investment. If he wishes to change the kind of investment, he first has to ask for permission to change the kind of investment and may tghen change to a new permanent kind of investment.

So yes, you are probably not making any points with the immigration folks who have set this up to help those who are serious about an option below the age of 50.

[lannarebirth]

The rules, available on immigration web site:

Conditions for permission

The foreign national must permanently possess the investment. If he wishes to change the kind of investment, he first has to ask for permission to change the kind of investment and may tghen change to a new permanent kind of investment.

So yes, you are probably not making any points with the immigration folks who have set this up to help those who are serious about an option below the age of 50.

<{POST_SNAPBACK}>

lopburi3,

Thank you for your comments and I believe you are likely right. Could you share the link to that passage of the immigration regulations with me please? Also, can you offer a suggestion of what I might do, short of tieing up all that money again and then getting a non immigration visa later> A friend of mine told me he received a non immigration visa simply by stating that he wanted to retire in Thailand and needed it first. Any possibility of pulling that off? Thanks for any insights you or others can offer.

[lopburi3]

http://www.immigration.go.th/nov2004/en/ba...p?page=service#