10mil investor visa

[Mario2008]

The extension must be done at the immirgaiton office for the area were you live, so would be Samui.

Evidence of the possibility of the possibility to extend can be found here:

http://www.immigration.go.th/nov2004/doc/temporarystay/policy777-2551_en.pdf

http://www.immigration.go.th/nov2004/doc/temporarystay/policy305-2551_en.pdf

In Thai:

http://www.immigration.go.th/nov2004/doc/temporarystay/policy777-2551_th.pdf

http://www.immigration.go.th/nov2004/doc/temporarystay/policy305-2551_th.pdf

The visa class is a non-immigrant visa, normally a non-B or nonIB is issued but thecategory is determined by the embassy.

See information on Thai Ministry of Foreign Affairs webiste:

http://www.mfa.go.th/main/en/services/123/15388-Non-Immigrant-Visa-%22B%22-(for-Business-and.html

[luis888]

Thanks guys this has helped me as wel

[andyhk888]

Thanks so much for the quick reply. I thought B was strictly for work and IB was for the Board of Investment qualified investments. I called my consulate and they said if I got a letter from BOI they would give me a visa. I think a letter from BOI is only for purchasing or investing in businesses, is that right?

The MFA link you provided is fantastic, but I guess shows the source of the problem.

http://www.mfa.go.th/main/en/services/123/15388-Non-Immigrant-Visa-%22B%22-(for-Business-and.html

From the link, it gives many categories of the B visa, but they are all related to working, investing in a company, teaching etc. and all have requirements like an invitation letter. Further below in the page, it talks about the one stop service center and gives all the details about the investment visa extension, but doesn't give a category of visa that someone should apply for.

There's a category IM on the UK Consulate website that I haven't seen elsewhere, though it looks unlikely that's the correct one:

http://www.thaiembassyuk.org.uk/?q=node/49

Category "IM" To invest with the concurrence of the Thai Ministries and Government Departments concerned.

The Thai consulate in HK seems completely oblivious to investment visa policy and when I called they kept saying they only give visas for work and retirement etc. I've just emailed the links you gave to the consulate.

[ubonjoe]

You would get non-b visa. The IM is done if going through the BOI.

The best way would be to come in on a tourist visa and then when you have the money in the bank (government bank if you want to buy a condo) you could apply for a change of visa status from a tourist visa to a non immigrant visa entry at immigration in Bangkok.. Then apply for an extension of stay.

[andyhk888]

You would get non-b visa. The IM is done if going through the BOI.

The best way would be to come in on a tourist visa and then when you have the money in the bank (government bank if you want to buy a condo) you could apply for a change of visa status from a tourist visa to a non immigrant visa entry at immigration in Bangkok.. Then apply for an extension of stay.

Thanks for the recommendation. I actually have already purchased the condo in Bangkok, though with transferring to a local bank and not a government one and it's been over 3 years. How long does it take to change a tourist visa to a Non-IM visa? Have a lot of people been successful in changing a tourist visa (which just looks like an ink chop to me) to a Non-IM category B visa? My reason for applying at the consulate here was just to reduce the risk that I would be told to first enter on a Non-IM visa before applying for an extension. I figured just an extension would be easier to do.

It also sounds like if I were to do the visa change and then an extension I could do both at the one stop service center. Do I need to visit two different immigration offices, to change and another to extend?

Has anyone been to this one stop service center and do you know if they're hard to deal with?

One Stop Service Center: http://osos.boi.go.th/

Edited February 4, 2014 by andyhk888

[ubonjoe]

Are you asking about a tourist visa that gives you a 60 day entry or a 30 day visa exempt entry.

It could be done on an exempt entry but you have to do it within 15 days of entry.

It will only take less than a day to apply for the conversion to a non immigrant visa entry. But you may be given a under consideration stamp while they approve your extension. The stamp would extend your ability to stay if it was beyond your entry stamp.

You cannot use the one stop center you will have to do the conversion and extension at CW. It is only for BOI investments.

[andyhk888]

Are you asking about a tourist visa that gives you a 60 day entry or a 30 day visa exempt entry.

It could be done on an exempt entry but you have to do it within 15 days of entry.

It will only take less than a day to apply for the conversion to a non immigrant visa entry. But you may be given a under consideration stamp while they approve your extension. The stamp would extend your ability to stay if it was beyond your entry stamp.

You cannot use the one stop center you will have to do the conversion and extension at CW. It is only for BOI investments.

Thanks again for your reply, it will save me a lot of time from running around in Bangkok. I have a tourist visa with a 60 day entry and not a 30 day visa exempt entry. Does that mean I can't convert the tourist visa, but would have to get it from the local consulate? What documents prove the condo ownership and current ongoing condo ownership? Is it the purchase agreement?

Edited February 4, 2014 by andyhk888

[ubonjoe]

You have to do the conversion at immigration here.

The police order does not mention joint ownership. You need to check with immigration about that. But for sure your part would have to be 10 million baht or more unless you have funds in the bank to make up the difference.

[spaceglue]

I would like to ask the same questions following link

http://www.thaivisa.com/forum/topic/349787-10-million-investment-visa/

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

YanTree2010-03-23

I have my visa situation taken care of for the next two years. However in two years I will need a new Visa class. I am currently purchasing a condo for 6,000,000 THB. If at some point in the next two years I purchase another condo for 4,000,000 THB or more, or otherwise invest 4,000,000 THB into an approved mechanism, will I then qualify for the 10,000,000 THB investment visa at that time (assuming such a visa still exists)? To put it another way, must the 10,000,000 THB all be invested at one time in one investment or can it be invested at different times in different investments? And must you immediately apply for that visa upon investing the money or can you apply for it at any time after having invested the money? Say I bought a 5,000,000 THB condo two years ago and another 5,000,000 THB condo a year ago - could I go today and qualify for the investment visa?I have already read the immigration provisions covering this Visa and the various TV threads on this Visa, they do not answer this question.Thanks in advance for any tips or experience.

Edited May 4, 2014 by spaceglue

[spaceglue]

You have to do the conversion at immigration here.

The police order does not mention joint ownership. You need to check with immigration about that. But for sure your part would have to be 10 million baht or more unless you have funds in the bank to make up the difference.

Thanks, ubonjoe.

I would like to ask the same questions following link

http://www.thaivisa.com/forum/topic/349787-10-million-investment-visa/

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

YanTree2010-03-23

I have my visa situation taken care of for the next two years. However in two years I will need a new Visa class. I am currently purchasing a condo for 6,000,000 THB. If at some point in the next two years I purchase another condo for 4,000,000 THB or more, or otherwise invest 4,000,000 THB into an approved mechanism, will I then qualify for the 10,000,000 THB investment visa at that time (assuming such a visa still exists)? To put it another way, must the 10,000,000 THB all be invested at one time in one investment or can it be invested at different times in different investments? And must you immediately apply for that visa upon investing the money or can you apply for it at any time after having invested the money? Say I bought a 5,000,000 THB condo two years ago and another 5,000,000 THB condo a year ago - could I go today and qualify for the investment visa?I have already read the immigration provisions covering this Visa and the various TV threads on this Visa, they do not answer this question.Thanks in advance for any tips or experience.

Edited May 4, 2014 by spaceglue

[ubonjoe]

You can get it for a condo purchase but my understanding is that it is meant to be one condo and the remainder of the 10 million can be kept in, bonds and/or bank accounts (fixed term).

[spaceglue]

You can get it for a condo purchase but my understanding is that it is meant to be one condo and the remainder of the 10 million can be kept in, bonds and/or bank accounts (fixed term).

Thank you very much.

They assume that working for more than one condo?

So, Can I apply a Non-B visa for the purpose of the condo rental business after register a company in Thai? or Please let me know if you have any good idea.

Edited May 5, 2014 by spaceglue

[ubonjoe]

It how the wording of the clause in the police order is wrttien.

(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.

It says a condominium which to me implies one.You could go to immigration and ask them about it.

If you want to purchase more than one you can do that and then hire a management company to take care of the rentals.

You could also set up company and get a work permit to do it but you would not be able to get an extension of stay for some time because of tax records and such. You would have to get a multiple entry B visa for perhaps two years which would require border runs every 90 days.

[spaceglue]

It how the wording of the clause in the police order is wrttien.

(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.

It says a condominium which to me implies one.You could go to immigration and ask them about it.

If you want to purchase more than one you can do that and then hire a management company to take care of the rentals.

You could also set up company and get a work permit to do it but you would not be able to get an extension of stay for some time because of tax records and such. You would have to get a multiple entry B visa for perhaps two years which would require border runs every 90 days.

Thank you for your kind advice.

[Hallodri]

I seem to remember that in the case of investment in a condominium that purchase must be off-plan - or first hand buyer so to say. However, everywhere I look now, I don't see that mentioned anymore and am beginning to question my memory.

Also, the information from immigration concerning investment visa were referring to BOI saying that the investment must be in accordance with their rules. I can't find that information either now.

I seriously hope that someone can proof me wrong and buying any kind of condominium does qualify.

[ubonjoe]

You can buy any condo to meet the requirements for an extension of stay (not a visa) based upon investment.

The BOI is not involved in this extension of stay.at all.

[Mario2008]

The official rules are linked to in post 31.

In the far past the BOI took an active role in investment visas applied from abroad.

[Hallodri]

wow, that was quick. Thank you!!

edit: thank you Mario2008: he was answering to my original question:

So it should not be a problem to get the extensions of stay based on investment but rather to get the initial non-im visa (not married, younger than 55)

Obviously I would try my home embassy consulate first in order to get a non-im visa based on investment but if that fails would a non-im ED also work??

I edited that post because I saw upthread that there is the recommendation to come in as a tourist and then go the change of visa route.

Edited May 14, 2014 by Hallodri

[Mario2008]

Retirement is 50+, not 55+.

Talk with the conuslate about getting an investment visa, that is indeed often the problem. Or aks for a visa based on exploiring investment/business.

(Especially if you currently have a business or know someone in Thailand to write a letter for you inviting them to do business with them.

[ubonjoe]

The best way to do it is to arrive on a tourist visa and get your bank account(s) opened and funds transferred in. Then go to immigration with the proof of 10 million baht in the bank and apply for a change of visa status to to get a 90 day non immigrant visa entry,

The after about 60 days you can back and apply for your extension of stay. If you have purchased your condo you would then present the ownership documents and proof of the the funds in the bank bond and etc.to reach 10 million baht number unless the condo is worth 10 million or more.

[balo]

Can I transfer 10 mill baht to a thai bank and apply for this visa, even if I have not invested anything yet ?

Sent from my SM-P601 using Thaivisa Connect Thailand mobile app

[ubonjoe]

You do not have to invest in anything. You can leave it in Thai bank accounts, bonds and etc. As soon as the money is in the bank you can apply for a visa at an embassy or consulate and the apply for the extension of stay at immigration Or you can do a conversion to a non immigrant visa entry and then do the extension at immigration.

[RubberBroke]

This thread has been a great help to me. Thank you ubonjoe for patiently answering all the questions. I just have a few more.

The value of the condo purchased has to be 'Purchased Value' or 'Assessed Value' ?

I have purchased a condominium in Bangkok for 10M Baht but the land office assessed value is around 8.4M (Paid Tax based on 8.4M).

Will this suffice or do I need to put 1.6M into a Time Deposit ?

Once again, Thanks for all the replies

[pingp0ng]

I have to jump in here and say it's not as easy as going to Thailand expecting to open a bank account on a tourist Visa. I was just in Bangkok and Pattaya and tried multiple banks, including Kasikorn and BOT and they refused to open accounts for me unless I had work permit. I explained I wanted to transfer in 10 mil baht for the "investment visa" which they had never heard of.

[luis888]

I have to jump in here and say it's not as easy as going to Thailand expecting to open a bank account on a tourist Visa. I was just in Bangkok and Pattaya and tried multiple banks, including Kasikorn and BOT and they refused to open accounts for me unless I had work permit. I explained I wanted to transfer in 10 mil baht for the "investment visa" which they had never heard of

I was in Pattaya April for 2 week holliday and decided to open a bank account, popped into Siam bank in Central Festival, they turned me down, walked into Krung Thai bank (actually by mistake, ment to go to Kasikor bank) and no problem, account opened in minutes, atm card 400 bht. No issues

Edited May 15, 2014 by luis888

[balo]

Kasikorn bank are friendly to foreigners, even with tourist visas. I already opened up 3 accounts here with a normal tourist visa, different branches in Bkk and Pattaya , and never been denied.

Edited May 15, 2014 by balo

[pingp0ng]

Wow, I tried all the banks in Terminal 21 in Bangkok, 2 Kasikorn branches in Pattaya (after reading they should be friendlier towards foreigners). I don't like that one guy say yes and the next no. Even when you say "Hi I want to deposit 10 mil baht" they declined. Not really a place I would want to deposit a sum that is for me at least a significant amount of money.

[JB300]

Are you American by any chance? Only there are lots of posts about how the upcoming FACTA changes (http://thunfinancial.com/fatca-foreign-account-tax-compliance-act-what-american-investors-need-to-know-now/) are causing lots of Thai banks to turn people away (even existing customers looking to open new accounts).

This being the key point for banks... "Most importantly, the legislation imposes on all foreign financial institutions a vast new legal mandate to determine who among their clients are “U.S. Persons” and report directly to the IRS information on those clients’ accounts. This mandate is backed up by draconian enforcement mechanisms that ensure that virtually all non-U.S. financial institutions will comply."

Edited May 16, 2014 by JB300

[ubonjoe]

This thread has been a great help to me. Thank you ubonjoe for patiently answering all the questions. I just have a few more.

The value of the condo purchased has to be 'Purchased Value' or 'Assessed Value' ?

I have purchased a condominium in Bangkok for 10M Baht but the land office assessed value is around 8.4M (Paid Tax based on 8.4M).

Will this suffice or do I need to put 1.6M into a Time Deposit ?

Once again, Thanks for all the replies

It should be the purchase price because that is the amount you had to bring into the country to purchase it.

[RubberBroke]

This thread has been a great help to me. Thank you ubonjoe for patiently answering all the questions. I just have a few more.

The value of the condo purchased has to be 'Purchased Value' or 'Assessed Value' ?

I have purchased a condominium in Bangkok for 10M Baht but the land office assessed value is around 8.4M (Paid Tax based on 8.4M).

Will this suffice or do I need to put 1.6M into a Time Deposit ?

Once again, Thanks for all the replies

It should be the purchase price because that is the amount you had to bring into the country to purchase it.

Ok. Thanks.