Which Visa To Stay In Thailand If Earning Rental Income From Real Estate?

[hyperdimension]

What is the most appropriate Thai visa to stay in Thailand if you are under 50 years of age and earn rental income from real estate (either in Thailand or outside) that you own?

Rental income negates the need for engaging in employment within Thailand and is usually a steady income stream.

[beano2274]

Under 50 no retirement visa.

Married to Thai - Visa based on marriage to a Thai National

Education Visa - undertaking of a course to study in Thailand

Looks like tourist visas with visa runs until 50

[bangkokburning]

I guess with considerable holdings you could go thru hassle and expense of forming a corporation, paying taxes more hassles to TRY for a B visa? Makes little sense to me but I guess its possible.

Just go with the ED visa and skip the hassles and the buying condos in a bubble market.

[AyG]

Non-imm B based upon investment of 10 million Baht in government bank deposit or government bonds.

5 year visa based upon purchase of Elite card.

[beano2274]

Non-imm B based upon investment of 10 million Baht in government bank deposit or government bonds.

5 year visa based upon purchase of Elite card.

I thought the Elite card was for certain nationalities, the OP has not stated where he/she is from.

[lopburi3]

http://www.thailandelite.com/membership.php

[AyG]

Non-imm B based upon investment of 10 million Baht in government bank deposit or government bonds.

5 year visa based upon purchase of Elite card.

I thought the Elite card was for certain nationalities, the OP has not stated where he/she is from.

Nope. Any nationality (except Thai). However, you mustn't be of unsound mind to apply. Some might say that's a Catch-22.

[hyperdimension]

However, you mustn't be of unsound mind to apply. Some might say that's a Catch-22.

I'd agree with that. Also they don't describe the specific details of the privileges on their web site unless you are a member, which costs 1.5M THB. That also seems like a Catch-22.

Most of the privileges are golf and spa treatments, which are useless if you have no interest in such things.

When it costs around 25k THB per year to stay in Thailand via other means, the 1.5M THB membership fee doesn't appear to be good value for money, especially when you don't know whether they are going to get into financial trouble again as it did recently.

Anyway, for completeness, it was right to list it as just one of a number of possible options, albeit the worst, for staying in Thailand without needing to be employed and without being able to qualify for a retirement visa.

Edited November 26, 2012 by hyperdimension

[NanLaew]

http://www.thailande.../membership.php

LOL.... "last updated January 1, 2008"

Edited November 26, 2012 by NanLaew

[hyperdimension]

Is it a valid concern that foreigners are allowed to own condominiums in Thailand, but there is a possibility in future if they exit the country they, for whatever reason an immigration official comes up with (e.g. too many tourist visas or not really studying), may not be allowed back into the country to stay and manage the property (or just live in it) due to the absence of a highly appropriate visa?

Edited November 26, 2012 by hyperdimension

[AyG]

Is it a valid concern that foreigners are allowed to own condominiums in Thailand, but there is a possibility in future if they exit the country they, for whatever reason an immigration official comes up with (e.g. too many tourist visas or not really studying), may not be allowed back into the country to stay and manage the property (or just live in it) due to the absence of a highly appropriate visa?

Unless you are a very naughty boy (or girl) and get blacklisted, there'll always be a way to come back into the country, even if it's flying in with the 30 day visa exemption or arriving by land and getting 15 days. Given the country's dependence upon tourism, it's most unlikely that this sort of privilege will be taken away. So, in short, and in my opinion, not a valid concern.

[hyperdimension]

Is it a valid concern that foreigners are allowed to own condominiums in Thailand, but there is a possibility in future if they exit the country they, for whatever reason an immigration official comes up with (e.g. too many tourist visas or not really studying), may not be allowed back into the country to stay and manage the property (or just live in it) due to the absence of a highly appropriate visa?

Unless you are a very naughty boy (or girl) and get blacklisted, there'll always be a way to come back into the country, even if it's flying in with the 30 day visa exemption or arriving by land and getting 15 days. Given the country's dependence upon tourism, it's most unlikely that this sort of privilege will be taken away. So, in short, and in my opinion, not a valid concern.

Isn't a visit on a visa exemption stamp meant to be only for tourism purposes? Why was the 30-day visa exemption period shortened to 15 days for land crossings? Why is evidence of a flight out of Thailand on or before the last allowed day of the exemption period required? Wouldn't having hundreds of back-to-back visa exemption stamps in a passport be looked at with suspiscion by immigration officials?

Edited November 27, 2012 by hyperdimension

[ubonjoe]

To stop people from living (and working) here on visa exempt entries by doing land border runs.

Before that they had a limit of 90 days on exempt entries (by land or air) during a 180 day period.

[NanLaew]

Is it a valid concern that foreigners are allowed to own condominiums in Thailand, but there is a possibility in future if they exit the country they, for whatever reason an immigration official comes up with (e.g. too many tourist visas or not really studying), may not be allowed back into the country to stay and manage the property (or just live in it) due to the absence of a highly appropriate visa?

Unless you are a very naughty boy (or girl) and get blacklisted, there'll always be a way to come back into the country, even if it's flying in with the 30 day visa exemption or arriving by land and getting 15 days. Given the country's dependence upon tourism, it's most unlikely that this sort of privilege will be taken away. So, in short, and in my opinion, not a valid concern.

But you must see hyperdimensions point no? He (she?) has availed themselves of the legal right to own a condominium (or several) but if they are not or retirement age, the only totally easy visa option is a tourist visa. The second option is the ED visa. The limitations on tourist visa use, ie. where multiple entry types can be issued and the number or TR visas in any one travel document is the stuff of many a long thread on these pages. Also, there is no requirement in a condo ownership deed that says one has to learn the local language, ie. the ED visa is just another 'option' for those that may have a personal life style that permits this.

It may not exactly be a concern but it certainly isn't easy.

[lopburi3]

Actually there is an investment extension of stay which even allows using a condo as the 10 million baht requirement.

[NanLaew]

I didn't know about that option and no doubt handy if you are in that league. Are there many farangs with a 10 million baht condo(s)? I think the average purchaser may have one studio-size, say 2-3 million bahts worth. Then there may be the next group that may hold several small units. I would think the 10 million baht farang condo owner is rather scarce but I may well be wrong.

[hyperdimension]

Actually there is an investment extension of stay which even allows using a condo as the 10 million baht requirement.

As NanLaew has already pointed out, most condominiums in Bangkok are 2M to 3M baht (and even cheaper in other areas of Thailand). So owning just one would be nowhere near enough to qualify for this 10M baht minimum requirement for an investment extension of stay.

If the minimum was instead at 2M baht then it would definitely be the most appropriate way for a foreigner who owned a 2M baht condominium to stay in the country and manage the property or live in it. Since this is not the case, it seems that there is no appropriate way.

So the situation that we have is: you can buy a condominium that you rightfully own, but you may have to leave the country regularly due to being on tourist visas or visa exemption stamps, and you may not be allowed back in the country if one day an immigration official thinks that you've had too many tourist visas and/or visa exemption stamps. Would showing condominium ownership documents and/or rental income statements help to prove that you are not working?

Edited November 28, 2012 by hyperdimension

[beano2274]

I thought you could only buy a condo if you had the correct visa, obviously am wrong. But this means that you could get kicked out for having too many tourist visas, and your condo is left empty.

[IMA_FARANG]

Rental income derived from property OUTSIDE Thailand.....no problem.

Rental income derived ffrom property INSIDE THAILAND is considered working in Thailand.

If you do that then you need a work permit and....depending on your income....you may have Thai tax obligations.

Just be aware of that possibility.

You may not regard rental income from property you own in Thailand as taxable, but the Thai tax people will.

[hyperdimension]

Rental income derived ffrom property INSIDE THAILAND is considered working in Thailand.

If you do that then you need a work permit

Can other people confirm whether this is correct? Would it be straightforward (i.e. automatic) to acquire a work permit and a non-immigrant visa on the basis of owning a condominium in Thailand and earning rental income from it? Edited November 28, 2012 by hyperdimension

[ubonjoe]

I didn't know about that option and no doubt handy if you are in that league. Are there many farangs with a 10 million baht condo(s)? I think the average purchaser may have one studio-size, say 2-3 million bahts worth. Then there may be the next group that may hold several small units. I would think the 10 million baht farang condo owner is rather scarce but I may well be wrong.

The entire 10 million does not have to be for the Condo. The Condo and time deposits, government bonds and etc. addiing up to the 10 million are acceptable.

See clause 2.5 B of Thai Police Order 777/2551 for info.

Edited November 28, 2012 by ubonjoe

[ubonjoe]

Rental income derived ffrom property INSIDE THAILAND is considered working in Thailand.

If you do that then you need a work permit

Can other people confirm whether this is correct? Would it be straightforward (i.e. automatic) to acquire a work permit and a non-immigrant visa on the basis of owning a condominium in Thailand and earning rental income from it?

Technically collecting rent from investment properties would be considered working.

In order to get the work permit you would have to form a company and have 4 Thai employees which would be a very costly endeavor to setup and maintain. Once company is formed and have the work permit you could then get a multiple entry B visa for a couple years before qualifying for an extension of stay.

The Thai revenue department would happily allow you to pay taxes on your income even without a work permit.