Investment visa question

[plus7]

Hi,

 

Could you please clarify about 10m investment visa:

 

Does it mean that if I place 10m in gov. Thai bank I will be allowed to stay 1 year.

On the next year if money still in the bank, I will be allowed another year. ? Generally speaking as soon as money in the bank, it is ok to stay.

My wife also gets a visa as a dependent. Correct ?

 

After 3 years, I will be allowed to apply for permanent residence ?

 

 

[ubonjoe]

You can get a one year extension if you make a 10 million baht investment.and as long as your investment never goes below 10 million baht you get another extension,.
Requirements from clause 2.5 of the police order 777/2551
 

B. Investment of no less than Baht 10 million: The alien:
(1) Must have been granted a non-immigrant visa (NON-IM).
(2) Must have evidence of transferring funds into Thailand of no less than Baht 10 million.
(3) Must have evidence of investing in the purchase or rental of a condominium unit for a period of no less than 3 years issued by a relevant agency or government, at a purchase or rental price of no less than Baht 10 million; or
(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent of its shares; or
(5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; or
(6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million.

 The ministerial regulation allows for permanent residency but the document required mention a work permit is needed.
See: http://www.immigration.go.th/nov2004/doc/residence/residence_invest_en.pdf
Ministerial regulations. http://www.immigration.go.th/nov2004/doc/residence/26122546_regulation_notice_en.pdf

[plus7]

Ubonjoe,

Thank you for your reply. I already searched the forum and found that you answer that type of questions quite often. I'm afraid to sound stupid, but could you please clarify:

 

I just bough a couple of new condos for 5m (currently in construction, with 2 year payment plan). Does it mean that I should only invest another 5 into deposit, shares etc. ?

Or I must already OWN a new condo ? Do small condos matter at all ?

[ubonjoe]

The condos would not count until you have fully paid for them and they are yours.

A small condo can be a part of the 10 million.