3million Baht Investment Visa

[atlastaname]

I am looking at staying long term in Thailand in a few years time. I know the rules can change between now and then , but i read somewhere that there is a little known visa that says something like you can invest 3 million baht in approved securities in Thailand and that entitles you to stay long term?? Although there is a mass of info on tourist and "O" visas on this forum and on the official websites, there is little detail available on this visa.

Does anyone know what you are investing in (i believe you can always get your money back after a certain period and then re-invest again if you want to) and also the precise DETAIL as to what this entitles you to?? What exactly are the criteria (just having 3 million i think??) and how long can i stay on this visa...1 year ?? is it renewable yearly??

Thanks

[vinny]

See Required documents, Visa Extension, to invest a minimum of 3 million Baht in the Kingdom:

Application for extension of stay of persons investing a minimum of 3 million Baht in the Kingdom

Required Documents

1. Evidence of transfer of at least 3 million Baht from abroad into Thailand. The applicant must be either the sender abroad or the recipient in Thailand of the investment.

2. Evidence of investing the transferred money after the transfer is completed in one or several of the following cases:

* Deposit the money in a fixed account of a state bank (Krung Thai Bank, Government Savings Bank, Bank for Agriculture and Cooperative, Ratanasin Bank, Srinakhorn Bank, Nakhornluang Thai Bank, Housing Bank)

* Buy bonds issued by a state agency or government enterprise. The bonds must be purchased directly from a state agency or government enterprise or an authorised dealer.

* Buy an apartment or condominium at the price set and registered by the Land Department.

* Any kind of investment deemed beneficial to the country by the Immigration Bureau.

Conditions for permission

The foreign national must permanently possess the investment. If he wishes to change the kind of investment, he first has to ask for permission to change the kind of investment and may then change to a new permanent kind of investment.

Note

For more information, please call 0-2213-2556

[atlastaname]

Thanks for that Vinny,

so sounds like i just have to transfer 3 million baht into Thailand from abroad and keep it there. And all the while its there i get what?? a yearly extension ? is that right? no visa runs just apply for yearly extention which allows me multiple entries and i can keep renewing once a year all the while that investment stays where it is ?

Sounds almost too simple , i'm just wondering if i'm missing something or is it really that easy ??

[lopburi3]

An extension of stay does not allow any entry. If you plan to travel you must still obtain a re-entry permit first.

Yes, it is easy. But could change at some point in the future.

[thedi]

As you mentioned yourself the 3 milion sheme is not well known. This seems to inlude even immigration officials and may not work at all. In Thailand rules are one thing, and what realy works may be an other thing. Check out the Nongkai immigration forum (search from http://www.thaiimmigration.com/) This forum is now dead, but there was a long and very good discussion of this there. The Nong Khai immigration officials denied at first the existance of a 3 milion sheme at all. There seem to be different rules and regulations, which may contradict each other.

I would not bank on this, do not transfer your many to quickly.

Regards Thedi

[atlastaname]

The general consensus is that such a visa does exist , indeed Vinny has found the relevant bit in the immigration rules.... my question now is exactly what does investing in Thailand the 3 mill entitle me to. I believe it is a 1 year multiple entry visa, which is easily extended for 1 year each and every year as long as i keep the money invested.

Can someone confirm this is right? Has anyone actually done it ??

Thanks again

[lopburi3]

It is a one year extension of stay just like people receive for retirement or support Thai wife. Many people have taken advantage of this program. It is very useful for those under age 50 who have the means to live here.

[Sunbelt Asia]

The general consensus is that such a visa does exist , indeed Vinny has found the relevant bit in the immigration rules.... my question now is exactly what does investing in Thailand the 3 mill entitle me to. I believe it is a 1 year multiple entry visa, which is easily extended for 1 year each and every year as long as i keep the money invested.

Can someone confirm this is right? Has anyone actually done it ??

Thanks again

We have helped a number of clients get this extension of stay based on investment. It does in fact exist. The interest rate now is 4.5% fixed deposit.

www.lawyer.th.com

[atlastaname]

Brilliant chaps !! that about wraps it up. Many thanks to all

[kdf]

The general consensus is that such a visa does exist , indeed Vinny has found the relevant bit in the immigration rules.... my question now is exactly what does investing in Thailand the 3 mill entitle me to. I believe it is a 1 year multiple entry visa, which is easily extended for 1 year each and every year as long as i keep the money invested.

Can someone confirm this is right? Has anyone actually done it ??

Thanks again

We have helped a number of clients get this extension of stay based on investment. It does in fact exist. The interest rate now is 4.5% fixed deposit.

www.lawyer.th.com

Hello again gang,

I have found a condo I am interested in. How can I determine if it will count towards the 3 million baht investment? Can a condo that does not count be made to?

Thanks

KDF

[lopburi3]

Ask immigration before you plan anything.

[Sunbelt Asia]

Hello again gang,

I have found a condo I am interested in. How can I determine if it will count towards the 3 million baht investment?

It has to be bought new from a Thai developer.

Can a condo that does not count be made to?

no

www.lawyer.th.com

[we_zaa]

Investment Visa has 2 types

1. Investment of 3 million THB in Government Bank or Bond [if you withdraw it , your visa will be cancel automatically but in case that fixed money 4 million THB , you can withdraw 1 million THB because immigration officer they concern only 3 million THB must be fixed]

2.Investment of 3 million THB in Government approved Condo [you must buy a new condo from developer, a second hand condo can't apply]

And the most important thing the price of condo 3 million THB must be a appraisal price , not the price in purchase agreement.

Investment Visa is the best choice for a foreigner who don't want to do a business, don't want to get a job , don't have thai wife and too young to apply for retirement visa [50 years old]

For more information , you can contact www.lawyer.th.com - the sponsor of this website

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the drift of the continents,

the very position of the sun along its ecliptic.

These are just a few of the things I control in my world"

Is that clear !!!

we_zaa

[kdf]

Hello again gang,

I have found a condo I am interested in. How can I determine if it will count towards the 3 million baht investment?

It has to be bought new from a Thai developer.

Can a condo that does not count be made to?

no

www.lawyer.th.com

Thanks to all for the info!

kdf