No More 3mil Investment Visas In Thailand

[The Dan Sai Kid]

As this is not the case in Thailand, (it seems you can never be a Thai citizen, own your own property, vote and have any rights that a Thai citizen has) and they are now targeting only foriegners (and, in a very short timescale). Perhaps a better word would be ethnocentrism but certainly in my country if it was happening to a racial minority (which I certinly am here) it would be called political racialism, prejudiced policies or social discrimination.

You can gain Thai nationality, regardless of race, creed or existing nationality.

Ah, but not regardless of money.

Doesn't it cost an extortionate amount? And I heard it invloves some sort of lottery?

[Indifferent]

I have just bought a condo for Bt5 mill in BKK. I have a work permit, but if the worst came to the worst, I could always rent it out and live in another country.

Not ideal if I had a Thai wife here I agree, but financially I am not buggered.

Am I missing something here? I just leave Thailand and rent out my condo.

That is indeed I think what a lot of people will be doing.

But the problem is who will you rent to?

All the farang will have gone (thinking very much like you) and they are the vast majority of the high end rental market. Thai people tend to stay with relatives or have their own property.

Holiday rental is an option, but a pain in the arse to fill the calandar to get a steady income.

[fxm88]

Yes, Tesco and the other big box retailers are in trouble. I guess that's why Walmart never came here

For the longest time I thought Tesco-Lotus was owned by Walmart. I had confused Tesco's yellow ball and โรลแบ็ค ("rollback") slogan with Walmart's yellow smiley-face and Rollback slogan. I any case, Thailand's labor unions are far too powerful for Walmart to ever risk coming here.

[Dazzler]

I have just bought a condo for Bt5 mill in BKK. I have a work permit, but if the worst came to the worst, I could always rent it out and live in another country.

Not ideal if I had a Thai wife here I agree, but financially I am not buggered.

Am I missing something here? I just leave Thailand and rent out my condo.

That is indeed I think what a lot of people will be doing.

But the problem is who will you rent to?

All the farang will have gone (thinking very much like you) and they are the vast majority of the high end rental market. Thai people tend to stay with relatives or have their own property.

Holiday rental is an option, but a pain in the arse to fill the calandar to get a steady income.

[dog412]

As this is not the case in Thailand, (it seems you can never be a Thai citizen, own your own property, vote and have any rights that a Thai citizen has) and they are now targeting only foriegners (and, in a very short timescale). Perhaps a better word would be ethnocentrism but certainly in my country if it was happening to a racial minority (which I certinly am here) it would be called political racialism, prejudiced policies or social discrimination.

You can gain Thai nationality, regardless of race, creed or existing nationality.

try it, and then let me no what percent of applicants were granted this distinction. many married to thai citizens are NOT granted this "honor", no matter how long they have lived here.

[kiakaha]

I have just bought a condo for Bt5 mill in BKK. I have a work permit, but if the worst came to the worst, I could always rent it out and live in another country.

Not ideal if I had a Thai wife here I agree, but financially I am not buggered.

Am I missing something here? I just leave Thailand and rent out my condo.

That is indeed I think what a lot of people will be doing.

But the problem is who will you rent to?

All the farang will have gone (thinking very much like you) and they are the vast majority of the high end rental market. Thai people tend to stay with relatives or have their own property.

Holiday rental is an option, but a pain in the arse to fill the calandar to get a steady income.

all the farang have gone ? what a load of ass. what about all the foriegn workers on non b visas with work permits , non o holders, various other non imm categories etc...etc.... the lack of demand will be like xmas for these expats (low rents, cheap sale prices)

[Dazzler]

I have just bought a condo for Bt5 mill in BKK. I have a work permit, but if the worst came to the worst, I could always rent it out and live in another country.

Not ideal if I had a Thai wife here I agree, but financially I am not buggered.

Am I missing something here? I just leave Thailand and rent out my condo.

That is indeed I think what a lot of people will be doing.

But the problem is who will you rent to?

All the farang will have gone (thinking very much like you) and they are the vast majority of the high end rental market. Thai people tend to stay with relatives or have their own property.

Holiday rental is an option, but a pain in the arse to fill the calandar to get a steady income.

[Sunbelt Asia]

New news....

Investment Visa extension: Will no longer be available after Oct 1st for new applicants on 3 million Baht.

Investment visa extension. Good news for existing extension of stay holders of 3 million Baht investment visa, we are now being told this will now be grandfathered in and they will be able to get the extension forever as long as they renew. (Yes I know reversal from several hours ago but the government is aware that people bought condos before on this scheme and now will allow it.)

www.sunbeltasiagroup.com

[lopburi3]

More details here:

http://www.thaivisa.com/forum/index.php?showtopic=82975

[changchang]

Wow - bet a few bottles are being popped now ! ! !

Very glad for all in this situation.

Thanks, Sunbelt, for these updates.

[Dazzler]

I have just bought a condo for Bt5 mill in BKK. I have a work permit, but if the worst came to the worst, I could always rent it out and live in another country.

Not ideal if I had a Thai wife here I agree, but financially I am not buggered.

Am I missing something here? I just leave Thailand and rent out my condo.

That is indeed I think what a lot of people will be doing.

But the problem is who will you rent to?

All the farang will have gone (thinking very much like you) and they are the vast majority of the high end rental market. Thai people tend to stay with relatives or have their own property.

Holiday rental is an option, but a pain in the arse to fill the calandar to get a steady income.

Agreed there will be fewer short-term foreigners renting, but my property in central Bangkok is, I imagine, attractive to the longer term stayer.

Everything happening here lately will shag the tourist industry though. In time a few of the more influential Thais (especially hoteliers, tourism moguls) will realise what's happening and I think attitudes will soften- just as in 97.

The leaders in this country never learn....

[Indifferent]

You can gain Thai nationality, regardless of race, creed or existing nationality.

In theory maybe (could you point me a government site so I can see the requirements?).

In practice, no.

I have never heard of a forigner gaining this status, and don't know anyone that has.

Maybe if he is a politcal figures younger brother or something but for us mere mortals??

I think not.

[kiakaha]

You can gain Thai nationality, regardless of race, creed or existing nationality.

In theory maybe (could you point me a government site so I can see the requirements?).

In practice, no.

I have never heard of a forigner gaining this status, and don't know anyone that has.

Maybe if he is a politcal figures younger brother or something but for us mere mortals??

I think not.

I know of many foreigners who have been naturalized as Thai.

[Maestro]

I feel that is what is happening here getting all out of context before it is Black and white.

The official document, I figure, is the information sheet being distributed to the immigration checkpoints this very moment, but I believe we shall never see that document because it is an internal document within the Immigration Bureau. Perhaps you will soon see posters up at the border posts, like those that publicise the requirement for tourists entering without a visa to have a 10K Baht with them.

---------------

Maestro

[Indifferent]

all the farang have gone ? what a load of ass. what about all the foriegn workers on non b visas with work permits , non o holders, various other non imm categories etc...etc.... the lack of demand will be like xmas for these expats (low rents, cheap sale prices)

They are next.

Watch and learn my dear Padawan )

[putdk]

I have just bought a condo for Bt5 mill in BKK. I have a work permit, but if the worst came to the worst, I could always rent it out and live in another country.

Not ideal if I had a Thai wife here I agree, but financially I am not buggered.

Am I missing something here? I just leave Thailand and rent out my condo.

WHO WANT RENT IT !!!

There will be many condo and house for RENT and SALE.

[Tywais]

New news....

Investment Visa extension: Will no longer be available after Oct 1st for new applicants on 3 million Baht.

Investment visa extension. Good news for existing extension of stay holders of 3 million Baht investment visa, we are now being told this will now be grandfathered in and they will be able to get the extension forever as long as they renew. (Yes I know reversal from several hours ago but the government is aware that people bought condos before on this scheme and now will allow it.)

www.sunbeltasiagroup.com

They must have read my post. But indeed good news and sensible.

[Fire]

This is getting crazier by the minute, isn't it? I think my priority now is to sell up everything and go to Malaysia or so.

Anyone knows about Malaysia visas?

[chuchok]

New info from Sunbelt.See here...

http://www.thaivisa.com/forum/index.php?sh...c=82975&hl=

[Sulaphat]

New news....

Investment Visa extension: Will no longer be available after Oct 1st for new applicants on 3 million Baht.

Investment visa extension. Good news for existing extension of stay holders of 3 million Baht investment visa, we are now being told this will now be grandfathered in and they will be able to get the extension forever as long as they renew. (Yes I know reversal from several hours ago but the government is aware that people bought condos before on this scheme and now will allow it.)

www.sunbeltasiagroup.com

They must have read my post. But indeed good news and sensible.

Inviting foreign investment on one basis and then changing the rules post-investment to the detriment of the investor is a form of expropriation. Even something as indirect as changing investment based visa rules can fall into this category.

Even though the target was the little guy in this instance, such moves don't go unnoticed by governments and large investors. Very sensible to grandfather the 3 million baht investors.

[LoveDaBlues]

So conversely would you call the New zealand government racist given that a non-NZLer can only stay a max of 9 months in an 18 month period on tourist permits and the criteria for Permanent stay is very strict. In fact NZL's immigration criteria for a Thai is much harsher than Thailand's immigration criteria for a NZLer. I'm sure you could apply the same logic to most other western nations.

Who said anything about tourist permits? I'm talking about the ONLY methods for extended stays in Thailand beyong tourist requirement. I think you read the word then blinded yourself to the rest.

Anyway, I would argue that (probably in NZ-since I don't know, I'm from the UK) then there many requirements are an interim before nationalization at which point they can apply for more permanent visas and (ultimately) citizenship and all the rights that are afforded a NZ citizen (thats how most countries work).

As this is not the case in Thailand, (it seems you can never be a Thai citizen, own your own property, vote and have any rights that a Thai citizen has) and they are now targeting only foriegners (and, in a very short timescale). Perhaps a better word would be ethnocentrism but certainly in my country if it was happening to a racial minority (which I certinly am here) it would be called political racialism, prejudiced policies or social discrimination.

There is a very fine line between Nationalistic and Racist and I think Thailand is rapidy aprroaching it.

But hel_l. what do I care. I'm off to Brazil soon. Just sooner rather than later.

My understanding is that yes you can become a Thai citizen. Not easy though. Once you have citizenship you can own land in your name, etc. etc.

[asiaworld]

Thanks for the info. Still, 10 mio is a drop in the ocean compared to, for instance, HK's USD 1 mio for a similar one. Not sure how other countries in the region compare.

I did forward details of the Philippines special visa that was mentioned on the other, big, thread to a mate who's married to a filipina but lives in HK. He chortled that it was a waste of money (USD 75k).

ARRRGHHHHHHHHHH !! But in HK what u getting IS : Permanent resident "Green card" with ALL the rights & privileges of any HK born resident !! Even Philippines gives our 'permanency'..

poor poor me got 3mln approved last month >> slightly less than 1 year ,, A LOT shorter, than any permanent rights ( and actually NOT better, than non-imm i've used so far)

[Meerkat]

You can gain Thai nationality, regardless of race, creed or existing nationality.

In theory maybe (could you point me a government site so I can see the requirements?).

In practice, no.

I have never heard of a forigner gaining this status, and don't know anyone that has.

Maybe if he is a politcal figures younger brother or something but for us mere mortals??

I think not.

This being thaivisa.com, perhaps it's worth having a look on this site for information before publishing such personal beliefs as fact.

Oh, shock, but what do I see?

http://www.thaivisa.com/301.0.html

[Indifferent]

They should introduce a new visa, a Deposit Visa.

It would allow all foreigners fly into BKK, deposit all thier investment money at immigration and bugger off back to where they came from

[Ijustwannateach]

The bit waaay back up in the thread about raising costs for the initial work permit fee is funny. Most people starting their first teaching job here are lucky to be PAID 30K baht for the first month. Asking them to pay this same amount back for the privilege of working is simply greedy stupidity. They should count their lucky stars anyone's still willing to work at 30K.

Well, I guess my students really WILL wind up some of the best English speakers in Thailand, 'cause there won't that many of them once all the TEFLers are gone everywhere else.

"Steven"

[NordicMan]

I have just bought a condo for Bt5 mill in BKK. I have a work permit, but if the worst came to the worst, I could always rent it out and live in another country.

Not ideal if I had a Thai wife here I agree, but financially I am not buggered.

Am I missing something here? I just leave Thailand and rent out my condo.

That is indeed I think what a lot of people will be doing.

But the problem is who will you rent to?

All the farang will have gone (thinking very much like you) and they are the vast majority of the high end rental market. Thai people tend to stay with relatives or have their own property.

Holiday rental is an option, but a pain in the arse to fill the calandar to get a steady income.

Agreed there will be fewer short-term foreigners renting, but my property in central Bangkok is, I imagine, attractive to the longer term stayer.

Everything happening here lately will shag the tourist industry though. In time a few of the more influential Thais (especially hoteliers, tourism moguls) will realise what's happening and I think attitudes will soften- just as in 97.

The leaders in this country never learn....

My thoughts....

The problem is that there will be fewer long-term stayers, and fewer potential buyers of your place. rental income will go down... Same for sales price.

It's not that there will be NO long-term tenants. Just that there will be fewer of them.

The supply of rental condos is then likely to increase, as the current owner-tenants may have to leave (like you) - thus creating additional space for rent.

Long-terms condos in Bangkok are not very attractive for holiday stayers - tourists levels may stay about the same, but they won't rent your condo so it doesn't really matter.

Increased supply and decreased demand....

Cheers

NM

[363885]

Does anyone have confirmation that the 3 million investment visa has become 10 million visa, or is that just rumor? Sunbelt?

[Meerkat]

Thanks for the info. Still, 10 mio is a drop in the ocean compared to, for instance, HK's USD 1 mio for a similar one. Not sure how other countries in the region compare.

I did forward details of the Philippines special visa that was mentioned on the other, big, thread to a mate who's married to a filipina but lives in HK. He chortled that it was a waste of money (USD 75k).

ARRRGHHHHHHHHHH !! But in HK what u getting IS : Permanent resident "Green card" with ALL the rights & privileges of any HK born resident !! Even Philippines gives our 'permanency'..

poor poor me got 3mln approved last month >> slightly less than 1 year ,, A LOT shorter, than any permanent rights ( and actually NOT better, than non-imm i've used so far)

Wrong. You have to keep your investment (and I apologise - it's not USD 1m, but only 850,000) for seven consecutive years to gain PR. What you gain during those seven years is normal residency, with the right to work, but without Right of Abode (ie they can kick you out at will if they want to).

Interestingly, you cannot do back-to-back tourist runs in HK either. I should know. They kicked me out back in '99 after two six-month stints. After 90 minutes in an interview room, I managed to persuade them to give me two months to pack up and ship out, which is what I did.

I've done two six year stints in HK separated by 9 months in the UK...sigh...still no PR for me then, but "them's the rules".

[chuckygobyebye]

You can gain Thai nationality, regardless of race, creed or existing nationality.

In theory maybe (could you point me a government site so I can see the requirements?).

In practice, no.

I have never heard of a forigner gaining this status, and don't know anyone that has.

Maybe if he is a politcal figures younger brother or something but for us mere mortals??

I think not.

One I can think of offhand is American Hotelier and Pizza Company owner Bill Heinecke, who I believe is now rated among the top 50 richest "Thais".

[nikster]

Sorry for most people here on visa extention basis, but do you think you can stay in US, Canada, Germany or any other "civilized" contry for more than 90 days? I do not think so. Shame to layers telling everyone "yes you can", knowing that they break the law.

Well, let's compare the marriage based visa. My wife arrived in Germany, and after some pretty serious arguments with the officials there, she was issued a 5 year residency permit which can be extended to unlimited after 5 years. Citizenship takes 10 years. But the point is: She got there, and was basically equal to citizens with regards to work and permission to stay.

There was no proof of income required either. Not for me, not for her.

Granted they did put up a few more obstacles for the same thing in Austria even though the EU laws are supposed to ensure equal treatment throughout the EU. And some countries even ignore EU law (Denmark). But by and large, the law in the EU is very simple and very clear: An EU citizen can live and work anywhere in the EU, and his/her spouse can come along and live and work there, too.

Compare to Thailand... no work permit included, need to renew visa (and pay for it) every year, need to show 400K in bank, subject to change! Why? No reason.

I mean - if the <deleted> police actually did their job in this country, there are laws and stipulations that deal with foreign criminals and money laundering. That should not be mixed up with the immigration laws. It's just that we all know how easy it is to get away with anything provided the right people are paid off... solution: Stop them at the borders. Hmm....