Condo Ownership Law Changed?

[robint]

Hi guys, pls dont jump all over me on this one, but a pal told me last night that the law on condo ownership/1 year investment visa had chnage last week (thanks to mr T again)

In effect, as a newcomer, you have to buy a new condo unit worth 3 (or is it 4 now?) million baht to qualify for a yearly investment visa. buying a secondhand condo from another flang or thai does not now qualify for said visa

the guy said this info was posted on this site but i havent found it. if anyonje knows pls point me

if this is just another example of barstool bs then apologies in advance and i shall chastise my pal

[lopburi3]

I believe it was always the case but after immigration took over the program they did allow used purchase to qualify. This has now reportedly be changed and condos must be from developer as per the original intent of this program (to bring money into the country). The amount required stays at 3m and I believe if condo is less the remainder can be in the form of the bank deposit option.

[monty]

The law always has been like that, however the following clause in immigration law gave officers a bit leeway: "Any kind of investment deemed beneficial to the country by the Immigration Bureau."

So if you bought secondhand of a Thai owner, they still might consider this an incoming investment and allow you your one year extension!

But as always, up to the discretion of the immigration officer, so what gets approved one day, does not always gets approved the next day, or at another immigration office!

[Firefan]

Sunbelt is on top of this one and you might want to post your question on the Visa-board here.

The amount is still 3M baht (the taxed transfer price - might not be the same as the selling price)

Cheers!