1mill Baht For Residency?

[yorky]

Hi

I have read somewhere that if an expat (farang) had to pay 1Mill Baht he/she would be granted residency!

Does anyone know where I can find details about this?

Thanks

[Curt]

I believe an unattached migrant needs to plant 800,000 in a Thai bank, so an additional 200,000 baht for peripheral fees and third party services isn't out of the question.

You can do all the paperwork yourself, but this might be a bit much for someone who doesn't speak/read fluent Thai.

[ChiefBEM]

Hi

I have read somewhere that if an expat (farang) had to pay 1Mill Baht he/she would be granted residency!

Does anyone know where I can find details about this?

Thanks

What the Thai government wanted and still wants is the US Dollar (USD)

Back many years the required amount of money to be deposited in a Thai Bank was 1 mil Baht.

However, at that time the exchange rate was

50 baht = $1 USD

That converted was 1 mil baht = $20,000 USD

Now the exchange rate is 40 baht = $1 USD

This converted is 1 mil baht = $20,000 USD

The amount of US Dollars needed has not changed.

That is the story.

Edited February 20, 2006 by ChiefBEM

[ChiefBEM]

Hi

I have read somewhere that if an expat (farang) had to pay 1Mill Baht he/she would be granted residency!

Does anyone know where I can find details about this?

Thanks

What the Thai government wanted and still wants is the US Dollar (USD)

Back many years the required amount of money to be deposited in a Thai Bank was 1 mil Baht.

However, at that time the exchange rate was

50 baht = $1 USD

That converted was 1 mil baht = $20,000 USD

Now the exchange rate is 40 baht = $1 USD

This converted is 1 mil baht = $20,000 USD

The amount of US Dollars needed has not changed.

That is the story.

OK LET ME YELL AT MYSELF FOR MY ERROR!

What I tried to type was:

I heard the same thing around 10 years ago.

What the Thai government wanted and still wants is the US Dollar (USD)

Back many years the required amount of money to be deposited in a Thai Bank and be able to file for a residency visa was 1 mil Baht.

However, at that time the exchange rate was

50 baht = $1 USD

That converted was 1 mil baht = $20,000 USD

Now the exchange rate is 40 baht = $1 USD

This converted is 800,000 baht = $20,000 USD

The amount of US Dollars needed has not changed.

The requirement is not to give the money to the Thai Government.

You need to have the money in a Thai Bank account under your name to apply for a residency but I do not know what type of a immigration this was applying to.

Maybe someone else could help.

That is the story.

[ray23]

Hi

I have read somewhere that if an expat (farang) had to pay 1Mill Baht he/she would be granted residency!

Does anyone know where I can find details about this?

Thanks

What the Thai government wanted and still wants is the US Dollar (USD)

Back many years the required amount of money to be deposited in a Thai Bank was 1 mil Baht.

However, at that time the exchange rate was

50 baht = $1 USD

That converted was 1 mil baht = $20,000 USD

Now the exchange rate is 40 baht = $1 USD

This converted is 1 mil baht = $20,000 USD

The amount of US Dollars needed has not changed.

That is the story.

OK LET ME YELL AT MYSELF FOR MY ERROR!

What I tried to type was:

I heard the same thing around 10 years ago.

What the Thai government wanted and still wants is the US Dollar (USD)

Back many years the required amount of money to be deposited in a Thai Bank and be able to file for a residency visa was 1 mil Baht.

However, at that time the exchange rate was

50 baht = $1 USD

That converted was 1 mil baht = $20,000 USD

Now the exchange rate is 40 baht = $1 USD

This converted is 800,000 baht = $20,000 USD

The amount of US Dollars needed has not changed.

The requirement is not to give the money to the Thai Government.

You need to have the money in a Thai Bank account under your name to apply for a residency but I do not know what type of a immigration this was applying to.

Maybe someone else could help.

That is the story.

You know what you guys seem to be talking about here is a annual visa not a residency permit and the criter does exist but with more requirements then the annual visa

[sfokevin]

I have never heard of a Visa or Residency permit available for 1 million Baht? Are you refering to the Elite Card that was being talked about in the past? Do they still offer it? It sounded more like admission card to an amusements park to me (Free golf and such)???

Edited February 20, 2006 by sfokevin

[Curt]

You know what you guys seem to be talking about here is a annual visa not a residency permit and the criter does exist but with more requirements then the annual visa

You are right.

Permanent Residency Requirements

[ChiefBEM]

You know what you guys seem to be talking about here is a annual visa not a residency permit and the criter does exist but with more requirements then the annual visa

You are right.

Permanent Residency Requirements

After reading the information on the website on Permanent Residency, I remember the reference.

However, I was told that at one point in time the Thai Government offered a "One time good deal" for a short period of time that enabled just about any non-criminal foreign national regardless of age to migrate to Thailand based on the condition they deposited 1 million baht in a Thai bank.

Anyone remember this?

Maybe my friend was just dreaming.............

[Maestro]

However, I was told that at one point in time the Thai Government offered a "One time good deal" for a short period of time that enabled just about any non-criminal foreign national regardless of age to migrate to Thailand based on the condition they deposited 1 million baht in a Thai bank.

It is on the page to which that link Curt gave points to, except that your friend had a zero missing, the required investment was 10 Mio. Baht, not 1 Mio.

2. PERMANENT RESIDENCE FOR FOREIGN INVESTORS THROUGH IMMIGRATION BUREAU

2.1 QUALIFICATIONS REQUIRED BY AN APPLICANT

...Able to submit a money certificate for funds transferred from abroad through one or more banks in Thailand in the name of the applicant, amounting to not less than 10 million baht

2.2 Applications may be submitted from 1 July 1997 until 30 June 2000.

That was available immediately after the economic crash of 1997, when foreign investment by private individuals was encouraged, for a limited time, as you can see.

--------------

Maestro

[ChiefBEM]

However, I was told that at one point in time the Thai Government offered a "One time good deal" for a short period of time that enabled just about any non-criminal foreign national regardless of age to migrate to Thailand based on the condition they deposited 1 million baht in a Thai bank.

It is on the page to which that link Curt gave points to, except that your friend had a zero missing, the required investment was 10 Mio. Baht, not 1 Mio.

2. PERMANENT RESIDENCE FOR FOREIGN INVESTORS THROUGH IMMIGRATION BUREAU

2.1 QUALIFICATIONS REQUIRED BY AN APPLICANT

...Able to submit a money certificate for funds transferred from abroad through one or more banks in Thailand in the name of the applicant, amounting to not less than 10 million baht

2.2 Applications may be submitted from 1 July 1997 until 30 June 2000.

That was available immediately after the economic crash of 1997, when foreign investment by private individuals was encouraged, for a limited time, as you can see.

--------------

Maestro

maestro you got it!

It was in 1997 and Obviously my friend missed a "0" in the baht requirement.

Thank you for clearing this up.

ChiefBEM

[robint]

I have just started a marriage visa and plan to move on to a permanent residence visa after 3 years - in theory. have wife and child for a long time already and thailand is my home for better or worse.

Has anyone out there done this already. Is it worth doing? or just continue with the yearly marriage visa rather than pay 50,000 baht?

I believe i do satisfy all the criteria mentioned above on the thai embassy site btw.

cheers

one other dumb question

anyone know how to get this police letter stating a crime free life from the uk. I am no longer resident there and it would be an expensive process having to fly back to get one?

[bendix]

i wonder if the OP is referring to official channels or *ahem* unofficial channels.

I've heard of some 'malleable' immigration staff being prepared to look very favourable on permanent residency applications in exchange for . . ummm . . a sizeable consideration.

Seems to me that this isnt so outrageous as it sounds. It's very common in the Philippines . . . why not Thailand?

[sleepyjohn]

one other dumb question

anyone know how to get this police letter stating a crime free life from the uk. I am no longer resident there and it would be an expensive process having to fly back to get one?

I got one of these as I was told by a Thai consulate in Scotland that I needed it for the "retirement visa".

It meant applying to Scotland Yard, and a fee of about £20.

Think it was the consulate that told me where to send. Perhaps the easiest way to find this is look up Scotland Yard website or find consulate in Scotland's phone number....it's nice and quiet and the sweet Scottish lady answers the phone and will tell you.

It takes a month now as all teachers have to get one if they change jobs to make sure they're not paedophiles.

So eventually i got my "retirement visa"....it was not more than a regular O visa which has to be converted with a "retirement" extension after arrival....a waste of time and money for both the police letter which I never needed and the doctor's letter from UK which likewise was not what was required.

Edited February 27, 2006 by sleepyjohn