Am newly arrived in Chiang Mai and have heard that if i buy a condo in an acceptable building i will be entitled to get a visa. Kind of visa i don't know but am good for Retirement visa just would prefer to buy a flat rather than show a sum of money in the bank. I gotta live somewhere.
Any advice of minimun cost of flat since i can find some at 500K TB, which is less than the 800K TB needed for bank deposit. Other advice welcome. Am a farang.

That will work if you have 10 million Baht, 500K isn't going to cut it.

Edited March 28, 201313 yr by beechguy

You might be able to bget a visa on that base, with emphessis on MIGHT, but don't get your hopes up too much. Officially it is not a reason for a visa.

You will not get an extension of stay from immigration, as for that you must invest at least 10 million baht.

Stay with retirement.

10 Million Baht for an extension of stay based on investment.

2.5 In the case of an investment:

Permission will be granted for a period of not more than 1 year at a time.

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.

10-15 years ago you could get a visa based on buying a condo over a certain value. Don't remember what that was.

I bought my condo (10.5M) about 12 years ago. For a few years I was being granted a visa based on the purchase. Then one year it was rejected. Reason: the rules had changed and they were no longer issueing visas based on buying a condo.

Don't know if they have changed it back, but that is what happened to me.

Edited March 28, 201313 yr by WhizBang

The old rules where 3 million. If you continued to get extensions of stay based on investment you would be grandfathered. All new applicants must show an investment of 10 million.

Did you once had an extension based on another reason or did you not renew your extension one time?

I believe 12 years ago the rule was also 10 million, then in 2006 it was temporarily reduced to 3 million and in 2008 increased again to the earlier 10 million.

I believe it actually was a BOI provision from the 1997 meltdown rather than immigration and was phased out by them (both 3 million and 10 million) in 2006 but the 10 million was taken over by immigration.

I believe it actually was a BOI provision from the 1997 meltdown rather than immigration and was phased out by them (both 3 million and 10 million) in 2006 but the 10 million was taken over by immigration.

I did read here that from 1997-2006, it was 3 Mio, then the investment Visa was discontinued for 2-3 years and then reintroduces with a value of 10 Mio

It was discontinued by BOI but immigration had the option to take them over (there was 3 million condo and 10 million investment/PR) and they did so in the case of 10 million with there own set of requirements and without PR; but not sure if it was done immediately or later. The below link still has the old BOI information.

http://www.mysecondpassport.com/investment-immigration/thailand-investment-immigration/

Until this year, for the last 6 years I was always able to get an "O" Visa by showing nothing more than the Chanote for my condominium.

It was a very inexpensive condo that I didn't even live in. As I'm still under 50 it was very useful to be able to do that.

In recent years I obtained O visas in Hull, Cardiff, Perth, Portland and Birmingham using no more than my Chanote.

This Feb this year I called a Thai consulate in the UK and told that they were no longer able to do that, some changes in Jan 2013 prevented them from doing that. I confirmed that info with a different consulate just to be sure.

If its a very expensive condo then it may qualify on the basis of investment, but 2 consulates in the UK told me straight that they are currently unable to issue O visas to persons under 50 unless married to a Thai national. I expect that a large investment qualifies one for a B visa. In fact I'm so close to my 50th birthday that it's not a big problem, but this news would have been very unwelcome for me a few years ago.,

I hope this is helpful, and always remember that rules can and do change with the wind, also the rules being applied in the UK can differ very much in Australia and USA.

It's NEVER the rules that are the problem, its ONLY ever the way in which they are implemented that's a problem!

The old rules where 3 million. If you continued to get extensions of stay based on investment you would be grandfathered. All new applicants must show an investment of 10 million.

Did you once had an extension based on another reason or did you not renew your extension one time?

What is being "grandfathered"?

The old rules where 3 million. If you continued to get extensions of stay based on investment you would be grandfathered. All new applicants must show an investment of 10 million.

Did you once had an extension based on another reason or did you not renew your extension one time?

What is being "grandfathered"?

Anyone under the old system continues to get treated the same way as in the past.

"...cost of flat since i can find some at 500K..."

May I ask where you found a flat/condo for 500k in CM?

Thanks

Terry

Some people buy a one room appartment, with bathroom, for their child or themselves wen they go studying. It is the same kind of appartment in the big appartment buildings around universities for about 2,500 to 3,500 baht a month rent.