3 Million Baht Investment Visa + Permanent Residence Goal

[moondancer]

Hi, my plan is to get permanent residency status in Thailand before rules are changed (who can predict the future, right?). I still have some years to go before reaching 50 and am single.

OK, please advise me if this plan makes sense.

1. I will put Baht 3m into a fixed deposit with a Thai government bank to get the One-year Permit-to-Stay (Non-immigrant Visa). Which bank in Bangkok should I go for and how long should the FD tenor be?

2. I understand I have to report to Immigration every 90 days but this can be done by post. As I don't plan to stay in Thailand for an extended period (for now), can I post this from overseas? I can use the address of a friend in Bangkok for reporting purpose though.

3. I also understand that I have to get a re-entry permit. I plan to travel in & out of Thailand every 2 to 3 months per year. Is a multiple permit the way to go?

4. After 3 years of holding a Non-immigrant Visa, I wish to apply for permanent residence and may before applying, buy a condo in Bangkok to show that I'm keen to establish residence (for example). Would this work given that I have not really resided in Thailand for the last 3 years for extended periods? If my application is rejected, can I still hold a Non-immigrant Visa (with the Baht 3m FD). Should I forget my PR dream then or try again 3 years later?

Thanks.

[lopburi3]

1. This is not normally a regular bank account FD but what immigration will approve. You should confirm with them the current requirements when you are ready to do it.

2. You only report after 90 days in Thailand. You do not report when outside. Clock starts again each time you return.

3. A multi re-entry permit would fit your travel plans.

4. PR approval rests on a number of factors but one of the most important you do not seem to meet and that would be employment/tax payments in Thailand. At times they offer PR for larger investments so I am sure your plans of investment will be helpful but not sure they will swing enough weight to get approval. Approval or not should not effect your visa stay. But this program could change at any time.

[atlastaname]

I am planning an even simpler scenario. Invest the 3m in whatever is the current approved scheme and just flit between Thailand and the UK as the mood takes me . So am i right in thinking that once i have done the investment and gone to Thailand for the first stay (maybe 3 monthish) i can then go back and forth as i please all the time i leave the 3m untouched ?

No more visa applications , just using the initial 1 year visa they wil give me .?

BTW on what type of visa would i first enter Thailand ? Do i get the investor visa from the UK or enter on a Tourist visa and then do it in Thailand ?

Anyone know ??

[rishi]

I don't believe that kind of plans has the slightest chance with respect to obtaining a PR. Try to look at it in from the Thai side. You put 3 m in a Thai bank and afterwards do nothing (from the Thai point of view) except spending some holidays in Thailand. After 3 years you'd pocketed about 350-400 k in interest and would've paid about 35-40 k in interest ... if your income were taxed in Thailand, which it probably wouldn't be.

Then you apply for a PR, which the Thais only give to those who produces a lot of documentation of having done a lot for Thailand, most prominently have paid a lot of tax. What kind of documentation of your value to Thailand would you have besides a bank account showing how much you've profitted of Thailand?

[SunbeltAsia]

1. I will put Baht 3m into a fixed deposit with a Thai government bank to get the One-year Permit-to-Stay (Non-immigrant Visa). Which bank in Bangkok should I go for and how long should the FD tenor be?

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)

It can be 12 months or longer

2. I understand I have to report to Immigration every 90 days but this can be done by post. As I don't plan to stay in Thailand for an extended period (for now), can I post this from overseas? I can use the address of a friend in Bangkok for reporting purpose though.

As lopburi3 pointed out, no need to report as you are outside Thailand.

3. I also understand that I have to get a re-entry permit. I plan to travel in & out of Thailand every 2 to 3 months per year. Is a multiple permit the way to go?

A single reentry permit is 1,000 Baht. a multi entry is 3,800. It seems the multi entry in your case would be the best

4. After 3 years of holding a Non-immigrant Visa, I wish to apply for permanent residence and may before applying, buy a condo in Bangkok to show that I'm keen to establish residence (for example). Would this work given that I have not really resided in Thailand for the last 3 years for extended periods? If my application is rejected, can I still hold a Non-immigrant Visa (with the Baht 3m FD). Should I forget my PR dream then or try again 3 years later?

A extension of stay based on investment is not eligible for the residence permit ( the same as a retirement extension) They used to have a 10 million Baht investment scheme but it is no longer available.

Simply apply for the extension of stay based on investment, every year.

Our firm has a professional fee of 6,500 baht plus &% Vat to help foreigners process the paperwork and give guidance. For the renewal, our professional fee is only 3,900 Baht.

www.lawyer.th.com

[lopburi3]

I am planning an even simpler scenario. Invest the 3m in whatever is the current approved scheme and just flit between Thailand and the UK as the mood takes me . So am i right in thinking that once i have done the investment and gone to Thailand for the first stay (maybe 3 monthish) i can then go back and forth as i please all the time i leave the 3m untouched ?

No more visa applications , just using the initial 1 year visa they wil give me .?

BTW on what type of visa would i first enter Thailand ? Do i get the investor visa from the UK or enter on a Tourist visa and then do it in Thailand ?

Anyone know ??

Investment extension of stay is one of the "change of visa" allowed by immigration so you can enter on a normal 60 day tourist visa and change. But if you can obtain a non immigrant visa to begin with it will save a step (and 2,000 baht fee later). You must apply each year for a one year extension of stay and if you travel out of Thailand you will need a re entry permit to keep the extension of stay alive. Otherwise you can keep the money in bank (rolling over as each FD period ends) and continue to do this as long as immigration keeps the program alive.

[moondancer]

Thanks everyone for the response.

I guess my best chance of getting permanent residence is to work or run a business in Thailand and pay taxes.

According to Sunbelt, "extension of stay based on investment is not eligible for the residence permit".

So it is correct then to say that getting an extension of stay based on investment allows me to stay in Thailand for an extended period (up to 1 year, renewable) but I would have to apply for permanent residence under one of these categories ?

• business operators / workers;

• investors;

• experts / advisors;

• religious workers;

• persons supporting / supported by Thai residents;

• persons supporting / supported by Thai national spouses; or

• retired government officials / employees.

Thanks.

[SunbeltAsia]

Thanks everyone for the response.

I guess my best chance of getting permanent residence is to work or run a business in Thailand and pay taxes.

According to Sunbelt, "extension of stay based on investment is not eligible for the residence permit".

So it is correct then to say that getting an extension of stay based on investment allows me to stay in Thailand for an extended period (up to 1 year, renewable) but I would have to apply for permanent residence under one of these categories ?

• business operators / workers;

• investors;

• experts / advisors;

• religious workers;

• persons supporting / supported by Thai residents;

• persons supporting / supported by Thai national spouses; or

• retired government officials / employees.

Thanks.

Permanent residence Categories of application

Employment,

Humanitarian reasons as follows:

Spouse: To provide patronage or to be under patronage of a Thai national spouse,

Child: To provide patronage or to be under patronage of a Thai national father or mother,

Father or mother: To provide patronage or to be under patronage of the applicant’s Thai national child,

Spouse: To provide patronage or to be under patronage of the applicant’s spouse who was granted with residential permit,

Child: To provide patronage or to be under patronage of the applicant’s father or mother who was granted with residential permit,

Father or mother:To provide patronage or to be under patronage of the applicant’s child who was granted with residential permit

Expert ,

Extra circumstances on a case by case basis

[atlastaname]

I am planning an even simpler scenario. Invest the 3m in whatever is the current approved scheme and just flit between Thailand and the UK as the mood takes me . So am i right in thinking that once i have done the investment and gone to Thailand for the first stay (maybe 3 monthish) i can then go back and forth as i please all the time i leave the 3m untouched ?

No more visa applications , just using the initial 1 year visa they wil give me .?

BTW on what type of visa would i first enter Thailand ? Do i get the investor visa from the UK or enter on a Tourist visa and then do it in Thailand ?

Anyone know ??

Investment extension of stay is one of the "change of visa" allowed by immigration so you can enter on a normal 60 day tourist visa and change. But if you can obtain a non immigrant visa to begin with it will save a step (and 2,000 baht fee later). You must apply each year for a one year extension of stay and if you travel out of Thailand you will need a re entry permit to keep the extension of stay alive. Otherwise you can keep the money in bank (rolling over as each FD period ends) and continue to do this as long as immigration keeps the program alive.

Thanks for that very complete reply..i am clear now

[bendix]

I'm curious about this permanent residence based on employment option, particularly several posters comments about paying taxes here.

I've been here nearly two years. I have the usual non-immi b visa and functioning work permit. I paid nearly 2 million baht in tax each financial year.

I havent been here three years yet, but if i maintain this level of tax input after the eligible period would my case be looked upon favourably if i was to apply for PR.

I know other factors are taken into account, but I'd be interested to hear what SunBelt thinks.

[The Coder]

The other option is do the 10 million baht investment which makes you eligible to apply for PR immediately. That's the other way of going if you don't want to wait 3 years to qualify.

[Firefan]

Bendix; for sure an advantage that you have paid a lot in taxes as already confirmed in this and other threads. So now you can wait for Sunbelt to confirm that...again...

The Coder; that 10M baht option has been cancelled even though you still find references to it here and there on the internet.

Cheers!

[SunbeltAsia]

Bendix; for sure an advantage that you have paid a lot in taxes as already confirmed in this and other threads. So now you can wait for Sunbelt to confirm that...again...

The Coder; that 10M baht option has been cancelled even though you still find references to it here and there on the internet.

Cheers!

Firefan is spot on. Cap: Must be those legal Q &A's at football practice.

If you get a salary of 75k per month, and you are paying tax, they are ok. Over 100K per month, and they are smiling.

The 10M option was cxl in 2004