Condo Ownership & Visas

[Bleeder]

I own three condos here, and occassionally drunks tell me that this is sufficient to get one of the "good visas". Is this true? What visa does condo ownership entitle you to, if any?

My NON-B expired, and I've been creeping around on border-runs for four months or so now.

[Sunbelt Asia]

I own three condos here, and occassionally drunks tell me that this is sufficient to get one of the "good visas". Is this true? What visa does condo ownership entitle you to, if any?

My NON-B expired, and I've been creeping around on border-runs for four months or so now.

If one of the condos was bought from a developer new and its worth 3 million Baht. You can get a extension of stay based on investment.

If you have two condos that together that are worth 3 million or more, than that works as well.

If you have one condo that qualifies but only worth 2 million, with 1.5 million Baht in a fixed bank account ( Government Bank) will also works as well.

www.sunbeltasiagroup.com

[gogreen]

What if you own a condo that was purchased second hand for under 3 Million Baht, but make up for the difference by putting the balance in a fixed govt. account?

Example:

2nd hand condo- 2.1 Million Baht

Deposit in Fixed Govt. Account- 900,000 Baht

Is there any way to qualify for the investment visa with a condo that was purchased 2nd hand?

[Thaiquila]

What if you own a condo that was purchased second hand for under 3 Million Baht, but make up for the difference by putting the balance in a fixed govt. account?

Example:

2nd hand condo- 2.1 Million Baht

Deposit in Fixed Govt. Account- 900,000 Baht

Is there any way to qualify for the investment visa with a condo that was purchased 2nd hand?

The latest I have heard is NO.

[Sunbelt Asia]

What if you own a condo that was purchased second hand for under 3 Million Baht, but make up for the difference by putting the balance in a fixed govt. account?

Example:

2nd hand condo- 2.1 Million Baht

Deposit in Fixed Govt. Account- 900,000 Baht

Is there any way to qualify for the investment visa with a condo that was purchased 2nd hand?

Sorry to say, no. The goal posts changed around August last year.

www.sunbeltasiagroup.com

[Bleeder]

Thanks Sunbelt.

I have three condos here, but only one was bought from the developer, but it was bought for over three million Baht.

You say that I "can get an extension of stay based on my investment" but what does this mean? What type of visa does this entitle me to? And where does one arrange this? Can I do this now, here in BKK?

I will be in California soon, where I intend to grab a sixty day tourist visa, taking a weekend visa-run break once this expires, and then at Xmas will visit London where I was going to apply for a NON-B. But, how exactly can I use this condo ownership to my advantage?

[Sunbelt Asia]

I have three condos here, but only one was bought from the developer, but it was bought for over three million Baht.

You say that I "can get an extension of stay based on my investment" but what does this mean?

Means no need to travel unless you want to. Thailand can be your home.

What type of visa does this entitle me to? And where does one arrange this? Can I do this now, here in BKK

It can be done in BKk. Our professional fee is 6,500 Baht plus 7% Vat. The government fee is 1,900 Baht. If you want a reentry permit( as you want to travel), add 3,800 for multi-eentry or 1,000 Baht for a single entry.

I will be in California soon, where I intend to grab a sixty day tourist visa, taking a weekend visa-run break once this expires, and then at Xmas will visit London where I was going to apply for a NON-B. But, how exactly can I use this condo ownership to my advantage?

You can stay in Thailand without needing to leave ever on a visa run. You can use the 60 day tourist visa as well and change this to a non immigrant visa here to do the extension of stay based on investment.

www.sunbeeltasiagroup.com

[Bleeder]

Thank you Sunbelt.

That is excellent news.

Thank you.

[gogreen]

Is it possible to obtain the investment visa if you buy a new condo (over 3 million baht) from a developer using borrowed money from a bank?

[Sunbelt Asia]

Is it possible to obtain the investment visa if you buy a new condo (over 3 million baht) from a developer using borrowed money from a bank?

Only if the collateral is from another source. The condo has to be free and clear in your name and the money has to come from overseas.

www.sunbeltasiagroup.com

[HarryHacker]

Is it possible to obtain the investment visa if you buy a new condo (over 3 million baht) from a developer using borrowed money from a bank?

Only if the collateral is from another source. The condo has to be free and clear in your name and the money has to come from overseas.

www.sunbeltasiagroup.com

What happens if you are working here and use the money earnt in Thailand and use that money to buy a condo from a developer, can you then use that for the investment visa once you retire?

Edited September 12, 2006 by HarryHacker

[Sunbelt Asia]

Is it possible to obtain the investment visa if you buy a new condo (over 3 million baht) from a developer using borrowed money from a bank?

Only if the collateral is from another source. The condo has to be free and clear in your name and the money has to come from overseas.

www.sunbeltasiagroup.com

What happens if you are working here and use the money earnt in Thailand and use that money to buy a condo from a developer, can you then use that for the investment visa once you retire?

Money has to come from out of the country. You can send a portion overseas every month and then send it back to Thailand when you look to retire to qualify.

www.sunbeltasiagroup.com

[HarryHacker]

Is it possible to obtain the investment visa if you buy a new condo (over 3 million baht) from a developer using borrowed money from a bank?

Only if the collateral is from another source. The condo has to be free and clear in your name and the money has to come from overseas.

www.sunbeltasiagroup.com

What happens if you are working here and use the money earnt in Thailand and use that money to buy a condo from a developer, can you then use that for the investment visa once you retire?

Money has to come from out of the country. You can send a portion overseas every month and then send it back to Thailand when you look to retire to qualify.

www.sunbeltasiagroup.com

Thanks Sunbelt, looks like I need to chat with you guys at some some stage.

[wpcoe]

Just to tie this in with a recent development (subsequent to SunBelt's posts above):

"More Bad News From Thai Immigration, Investment Visa is Cancelled.

As of October 1, 2006 the 3 million baht investment visa will no longer be available"

http://www.thaivisa.com/forum/index.php?showtopic=82914