Investment Visa

[jbaldwin]

I am 41 not married and not working

I currently hold a one year non-im "O" class visa issued in Hull (UK) on the basis that I was "visiting friends". I was not planning to visit the UK this year and was therefore planning to get a triple entry tourist visa in Penang. However, given the reported problems I am considering other options. I have a few questions:

1) Do I have to apply for an extention before the date my visa expires or can I do this during my final stay ie if the visa expires 30 June can I entry Thailand on 29 June and apply for an extention after this date.

2) Government bonds are one of the listed allowed investment. I have some money in Mutual Funds invested in Thai government bonds. Anyone know if these would be allowed.

3) I have check the websites of the Government banks listing in the regulations. The Government Saving Bank currently pays 5.5% for one year deposits. Anyone know if foreigners are able to open accounts here (I would preferably use the Pattaya branch)

4) I understand that Penang used to issue one year multi entry visa to under 50's with 3million in the bank whether or not it was a government bank or a fixed term. Is this still the case?

[SunbeltAsia]

I currently hold a one year non-im "O" class visa issued in Hull (UK) on the basis that I was "visiting friends". I was not planning to visit the UK this year and was therefore planning to get a triple entry tourist visa in Penang. However, given the reported problems I am considering other options. I have a few questions:

1) Do I have to apply for an extention before the date my visa expires or can I do this during my final stay ie if the visa expires 30 June can I entry Thailand on 29 June and apply for an extention after this date.

Simply cross the border, back into Thailand on the 29th, get 90 more days not one day visa. You then can get a extension off that 90 day stamp or the current one.

2) Government bonds are one of the listed allowed investment. I have some money in Mutual Funds invested in Thai government bonds. Anyone know if these would be allowed..

They may, it is up to the discretion of the Officer. If this is only thing the Mutual Fund invest in , which is government bonds, than the odds are high you will be approved.

3) I have check the websites of the Government banks listing in the regulations. The Government Saving Bank currently pays 5.5% for one year deposits. Anyone know if foreigners are able to open accounts here (I would preferably use the Pattaya branch)

You are able to. If they give you grief, needing a work permit. Explain its for the extension of stay based on investment. The Thai Government wants your money and they should take it. You will be wiring in 3 million baht, that will get their attention.

4) I understand that Penang used to issue one year multi entry visa to under 50's with 3million in the bank whether or not it was a government bank or a fixed term. Is this still the case?

My understanding is no. However in Asia, their never seems to be a yes or no answer. It is up to the discretion of the Officer. But if you have those funds, why do a visa run? You qualify if its in a Thai State Bank, get the extension of stay based on investment. No one is giving higher than 5.5% in a fixed deposit are they? I understand Krug Thai was giving 4.5%

www.lawyer.th.com

[jbaldwin]

Thanks to Sunbelt for the reply.

I have one further question.

In 2003 I made a transfer of 2.6 million baht. I have not got the Tor Tor 3 but I presume that there should be no problem in getting a copy from the bank. However, when I made this transfer I gave the reason for the transfer as purchasing a Condo. Will the age of the transfer and the stated use be a problem to use this towards the 3.0 million?

[SunbeltAsia]

Thanks to Sunbelt for the reply.

I have one further question.

In 2003 I made a transfer of 2.6 million baht. I have not got the Tor Tor 3 but I presume that there should be no problem in getting a copy from the bank. However, when I made this transfer I gave the reason for the transfer as purchasing a Condo. Will the age of the transfer and the stated use be a problem to use this towards the 3.0 million?

This should be no problem. The age of the transfer does not matter as long as you didn't spend the money. If you invested it in Thai bonds, not a problem.