Investment Visa

[363885]

Bangkok Bank has a policy that in order to apply for internet banking, a foreigner must have "a resident Baht account holding a non-immigrant visa along with a valid work permit or certificate of residence are eligible to apply for Bualuang iBanking."

I am planning to apply for an investment visa (I'm in the process of purchasing a condo from a Thai developer that is over 3 million baht). My understanding is that this would allow me to enter the country and then while I am in Thailand apply for an extension of stay for 1 year.

My questions are the following:

1. What is the classification of such a visa (non-immigrant B, IB, etc.)?

2. Do I have to apply for this visa from outside of Thailand?

3. Will this visa allow me to obtain the "certificate of residence"?

4. If so, once I get the visa and enter the country, how do I obtain this "certificate"?

Thanks.

[vinny]

1. See Non-Immigrant Visa

[lopburi3]

1. This is an extension of stay from a non immigrant visa - it is not a visa. You can ask Consulate if they will issue a non immigrant visa explaining what you intend to do but if they will not you can accept a 60 day tourist visa and convert it at Immigration. I would not do this process without checking with Immigration first as specific requirements must be met in both money transfer and type of condo purchased for it to be accepted. Be aware if rules change this visa extension of stay may not be grandfathered.

2. No. You should be sure to arrive on at least a tourist visa however.

3. The extension of stay/90 days address reporting would allow a certificate of residence.

4. You can obtain a certificate from Immigration or your Embassy once on the extension of stay.

I would ask Consulate if you can get non immigrant visa - if not accept tourist. I would set up wire transfer agreement with your bank so that you can transfer funds when required. I would arrive and get current information from Immigration (you might be able to use a good visa service if you have to do this before you arrive). Only then, after being sure it will fly, would I do the transfer/buying.

[363885]

Thanks for your answers. Appreciate it.

[363885]

1. This is an extension of stay from a non immigrant visa - it is not a visa. You can ask Consulate if they will issue a non immigrant visa explaining what you intend to do but if they will not you can accept a 60 day tourist visa and convert it at Immigration. I would not do this process without checking with Immigration first as specific requirements must be met in both money transfer and type of condo purchased for it to be accepted. Be aware if rules change this visa extension of stay may not be grandfathered.

2. No. You should be sure to arrive on at least a tourist visa however.

3. The extension of stay/90 days address reporting would allow a certificate of residence.

4. You can obtain a certificate from Immigration or your Embassy once on the extension of stay.

I would ask Consulate if you can get non immigrant visa - if not accept tourist. I would set up wire transfer agreement with your bank so that you can transfer funds when required. I would arrive and get current information from Immigration (you might be able to use a good visa service if you have to do this before you arrive). Only then, after being sure it will fly, would I do the transfer/buying.

One other question, just to clarification, is an extension of stay required prior to being eligible to obtain a "certificate of residence"? In other words, just having a non-immigrant visa (but not yet obtaining the extension of stay) would not allow me to obtain the "certificate of residence"? Thanks.

[lopburi3]

Believe Immigration is looking for an address report on file (your first TM.7) extension of stay. Embassy would probably be my choice without extension. But as with many things here your experience may well not be the same as someone else.

[Khun Bob]

If bkk wont give you inet banking try kasikorn, krungsri, krung thai, TMB or SCB - and just like all ready commented :

"But as with many things here your experience may well not be the same as someone else."

However I would trust HSBC with 3 million or more - however i think you may find that the government want the money in a govrnment bank in which case go for krung thai.