Can a foreigner buy condo and get staying visa?

[momtaz]

Hello,

A friend of mine who been here for about a year and half,

He was asking me some question regarding to buy a condo here:

1. is possible to a foreigner to buy a condo by his name full ownership ?

2. is it possible for a foreigner to have bank loan in buying a condo? until

3. according to the law, is possible to have a staying visa or such document because of his title deeds ownership ?

Any further information in this context to cover this matter will be highly appreciated,

Best regards

[Maestro]

1. Yes, if the purchase complies with the conditions of the Condominium Act, in particular regarding the share of foreign ownership and the transfer of money from abroad: Sections 19(5), 19 bis
2. No, money must be brought in from abroad for the entire purchase price of the apartment.
3. Yes, if the requirements of clause 2.5 B. of Immigration Bureau Order 327/2557 and Immigration Bureau Order 138/2557 are met.

[JLCrab]

If you meet their requirements , you can possibly obtain a loan in Singapore designed to buy properties in Thailand such that all purchase funds still come ex-Thailand.

http://www.uob.com.sg/personal/loans/property/uob_international_home_loan_thailand.html

[momtaz]

What I heard from some friends that a foreigner when going to buy a property he must receive the fund from overseas,

for the case of my friend, he is not marrying with Thai lady, so he needs the full ownership of the property to be in his name,

he does not need a load funder or any, he is financially secured enough,

what he wants to know is just about the procedure to obtain a staying visa that to be related because of his property ownership,

I was reading in another separate post about investor's via, the replies to the topic saying that a property that must be valued of at least 10 million baht, and to be a new brand, (first sale) to obtain an investor's visa,

if anyone heard about, or ever experienced such, kindly share your ideas, it will be highly appreciated,

Best regards.

[Mario2008]

Indeed, funds must come from overseas.

There is no visa or extension of stay based on owning a condo in Thailand. There is the option of investing 10 million in Thailand, of which the condo can be a part or the whole investment. If the value is below 10 million baht, the rest can be made up by other investments such as government bonds.

[BuckBee]

Basically investor permission to stay is only current option in which a condo can help obtain permission to stay.

Perhaps the future will see this improve & perhaps not but currently condo ownership is not that useful in helping the owner acquire visas/permission to stay unless purchase value high enough to meet current investor requirements.

Personally I think you are best investing the capital the best you can & use the income from it to subsidise rent as far more flexible route under present conditions.

[jacksam]

Agree with Buckbee. Better financial options elsewhere.

Do not buy condo is in order to live here. Investigate other visa options.

Buy if there is reason other than financial gain (which there are many better options)

There are reasons to buy in Thailand ,granted. Such as prsonal feeling of owning the joint your living.

But financially not a clever move.

[saramsland]

• Yes, if the purchase complies with the conditions of the Condominium Act, in particular regarding the share of foreign ownership and the transfer of money from abroad: Sections 19(5), 19 bis
• No, money must be brought in from abroad for the entire purchase price of the apartment.
• Yes, if the requirements of clause 2.5 B. of Immigration Bureau Order 327/2557 and Immigration Bureau Order 138/2557 are met.

Seems like the 2.5 Clause possibility finished Oct 1, 2006.

[ubonjoe]

• Yes, if the purchase complies with the conditions of the Condominium Act, in particular regarding the share of foreign ownership and the transfer of money from abroad: Sections 19(5), 19 bis
• No, money must be brought in from abroad for the entire purchase price of the apartment.
• Yes, if the requirements of clause 2.5 B. of Immigration Bureau Order 327/2557 and Immigration Bureau Order 138/2557 are met.

Seems like the 2.5 Clause possibility finished Oct 1, 2006.

That is when the 3 million baht investment ended for new applicants.

The 10 million baht investment is still possible.

[Lite Beer]

For new applicants it is 10 Million.

For those already in the system it is 3 Million.

[dotpoom]

Ownership of a condo does not give you any advantages for staying in Thailand over a person who does not own a condo.

[paz]

Ownership of a condo does not give you any advantages for staying in Thailand over a person who does not own a condo.

Except if for 10M Bt or more, in which case gives the right to apply and presumably be granted extensions of stay every year fort that reason alone.

[momtaz]

Appreciate all your comments and feedbacks,

I will convey all what I heard to my friend, then he will make the right decision, whether to buy or invest up to his convenient.

Really with many thanks to all,

[alantheembalmer]

I went to CW yesterday, and asked the head of L section, (extensions), about the 10 million Investment Extension. She was emphatic that the condo purchase had to be from a company, (i.e. the company that built the condo), or from a government agency. She told me that as I had purchased my condo from a previous private owner, I did not qualify for an Investment Extension.

[Timwin]

330 000 dollar investment just to stay in Thailand!? You could get that Thai Elite 5 year visa for "only" 500000, 17000 dollars. And then spend 313000 to girls and parties

Edited August 28, 2014 by Timwin

[iambarney]

330 000 dollar investment just to stay in Thailand!? You could get that Thai Elite 5 year visa for "only" 500000, 17000 dollars. And then spend 313000 to girls and parties

makes sense.