Pay and stay, through the Investment Visa

[IMA_FARANG]

Wake up and follow this forum topic.

The Thai Elite card is still alive.....in fact they are announcing 4 "new" options on this very forum.

Some of their "new" choices are not new but simply restatements of what was previously offered.....which I personally think is just more advertising bulls- -t on their part....but they are still vey alive.

All you need for the "cheap option" is 500, 000 Baht.

 

Note:  Do the math however, how long does it take for a retiree living on a pension of let's just say $1500 monthly to get even 500,000 Baht in their bank account in Thailand.....and how many 90 day tourist visas you need to go through to obtain that amount?

Noy complaining you understand, just wondering how good you are at Mathamatics.

 

 

 

Edited August 10, 2016 by IMA_FARANG

[Ronuk]

2 hours ago, IMA_FARANG said:

Wake up and follow this forum topic.

The Thai Elite card is still alive.....in fact they are announcing 4 "new" options on this very forum.

Some of their "new" choices are not new but simply restatements of what was previously offered.....which I personally think is just more advertising bulls- -t on their part....but they are still vey alive.

All you need for the "cheap option" is 500, 000 Baht.

 

Note:  Do the math however, how long does it take for a retiree living on a pension of let's just say $1500 monthly to get even 500,000 Baht in their bank account in Thailand.....and how many 90 day tourist visas you need to go through to obtain that amount?

Noy complaining you understand, just wondering how good you are at Mathamatics.

 

 

 

He very obviously wants to 'Invest' in property in order to gain a visa. He very obviously has enough money to buy one, unlike those that continue at every opportunity to knock the TE program and very likely have no hope of ever getting one.

[ubonjoe]

You may find that the bar to transfer the funds out of the country much lower than those to get the extension based upon investment. Check with your bank to find out what they require. If you have currency exchange slips that might be enough for the bank.

There is no limit on the total amount you can send out of the country over a period of time.

[HampiK]

5 hours ago, siplanbahtvisa said:

Dear UbonJoe, 

 

We have the money in the fixed deposit for over 3 years now. However, how can we proof that the money came from abroad. 

We brought the money over in cash on the plane in increment like 30K and 15 times like that. Because the country where we came from won't allow transfer money outside country unless you have reasons like: medical treatment, going to school, permanent moving. 

but paperworks are long and difficult if not impossible. Therefore, one has to travel by plane many many times and each time bring some in order to bring your money out. 

 

When I bring cash (not 1-2'000$) to Thailand with me in the airplane, I always go to red Imigration to declare the money. So I can prove the money came from outside. But not sure if this is enough prove for obtain the visa. But anyway, it seems you also not have this declarations.

[lkn]

6 hours ago, siplanbahtvisa said:

Can i show the withdrawal slip from a bank abroad where i'd withdrawn my money and brought over in cash? would this be enough

 

Not unless you have evidence that your withdrawal slips match the money currently in your bank account.

 

Also be aware that if you deposit 10,000,000 baht in another country, there is a good chance they will want to see proof of origin of funds.

[djlest]

Great idea but god help you if you ever want to send your 10 mil back home aftewards. These days even if you show them an FET form of where the money came in. unless you have a absolutely perfect money trail including the little bank stubs they give you at banks and most people throw away (doh because I was told the FET form is all i needed) they will just say no and make you feel like  criminal. unbelievable... i even bought 2 condos and everytime i go to a Bank to send money out. if you are not retired and dont have a work permit - they will assume your a criminal. Be very careful!

[Upnotover]

Hello 2016

[JackThompson]

On 2/21/2017 at 9:08 PM, djlest said:

Great idea but god help you if you ever want to send your 10 mil back home aftewards. These days even if you show them an FET form of where the money came in. unless you have a absolutely perfect money trail including the little bank stubs they give you at banks and most people throw away (doh because I was told the FET form is all i needed) they will just say no and make you feel like  criminal. unbelievable... i even bought 2 condos and everytime i go to a Bank to send money out. if you are not retired and dont have a work permit - they will assume your a criminal. Be very careful!

If you go with the Elite, instead, you don't have to worry about this, because you money is "spent" - gone, forever.  And unlike the investment-extension, it only lasts for a fixed period - you cannot simply keep extending it every year in perpetuity.  I only wish I could have entered into this program when the investment required was only 3M Baht. 

The best practice is to keep every bank-receipt, plus scan it, and copy those scans to your cloud account.  The same goes for all immigration receipts, and other similar important documents.  It only takes a minute or so a month, and saves a lot of potential trouble.

[Some guy]

Does anyone know the following details about the requirement to transfer at least B10 million into Thailand for the investment visa.

 

1) Can the transfer come from any country or does it have to be the applicant’s passport country?

 

2) Can the transfer come from any overseas bank account or does it have to come from a bank account in the applicant’s name?

 

3) How long after making a qualifying transfer do you have to put in a qualifying investment and then apply for the investment visa? Could the applicant do these 3 things years apart?

           

Thanks

[ubonjoe]

13 minutes ago, Some guy said:

1) Can the transfer come from any country or does it have to be the applicant’s passport country?

 

2) Can the transfer come from any overseas bank account or does it have to come from a bank account in the applicant’s name?

 

3) How long after making a qualifying transfer do you have to put in a qualifying investment and then apply for the investment visa? Could the applicant do these 3 things years apart?

1. Anywhere

2. As far as I know the only requirement is that it is transferred into an account here in the applicant's name.

3. You don't have to invest in anything. It can be in a Thai bank account or government bonds to apply for the extension of stay based upon investment. You could apply for and get the extension and then buy a condo later. It can be both a condo and/or money in the bank totaling 10 million baht. 

[Some guy]

2 hours ago, ubonjoe said:

You don't have to invest in anything. It can be in a Thai bank account or government bonds

Thanks for the answer. The OP says a fixed deposit Thai bank account, which like government bonds is an investment. Are you suggesting it can be in a regular savings account used for daily transactions?

Cheers
 

[ubonjoe]

17 minutes ago, Some guy said:

Thanks for the answer. The OP says a fixed deposit Thai bank account, which like government bonds is an investment. Are you suggesting it can be in a regular savings account used for daily transactions?

It depends upon what you call an investment. I think of what is in a bank account as an asset not an investment. The investment in this case is an investment in Thailand since it has to be in a bank here.

The police order does state fixed deposit account but it could be one with a term as little as 3 months.

[NoBrainer]

Well it is kind of covered in the last paragraph of the OP article, but does anyone know for sure if you can obtain a work permit under this Visa category, providing you

otherwise qualify for one?

[ubonjoe]

2 minutes ago, NoBrainer said:

Well it is kind of covered in the last paragraph of the OP article, but does anyone know for sure if you can obtain a work permit under this Visa category, providing you

otherwise qualify for one?

You can get a work permit after getting the investment extension since you will start out with a non-b visa.

[NoBrainer]

Thank you Joe.

 

Just thinking that it might be easier to get the extension next year based on the IV, rather than based on the company I work for.

 

Work permit is relatively straight forward, but extension of stay on Non B requirements seem to be fairly fluid each year, and making you

jump through more hoops every time the renewal comes up.

[hspace]

@Lite Beer

@ubonjoe

 

Often when you buy a sub-sale ("second hand") condo, the contract says you pay X amount for the condo, and Y amount for the furnishings (sofa, bed, TV etc). Do you know if the Y amount for the furnishings can be counted towards the THB10M?

 

*EDIT: Never mind. It seems that only new condo's direct from developer will qualify?

Edited December 24, 2017 by hspace
irrelevant already, only new condo investment

[JackThompson]

52 minutes ago, hspace said:

... It seems that only new condo's direct from developer will qualify?

Correct - new builds only.  Other things like govt-bonds are also counted.

[Misty]

On 9/2/2017 at 4:33 PM, NoBrainer said:

Thank you Joe.

 

Just thinking that it might be easier to get the extension next year based on the IV, rather than based on the company I work for.

 

Work permit is relatively straight forward, but extension of stay on Non B requirements seem to be fairly fluid each year, and making you

jump through more hoops every time the renewal comes up.

Sounds like a good idea. Did you end up doing this? How has it turned out?

 

[LivinLOS]

On 9/20/2015 at 6:22 AM, jpinx said:

surely the elite card is a cheaper option?

one costs you money, the other earns a return.. 

Anyone who used GBP to invest in THB bonds or fixed term savings has been laughing the last 5 years.. And had no issues with staying. 

[jacko45k]

13 hours ago, LivinLOS said:

Anyone who used GBP to invest in THB bonds or fixed term savings has been laughing the last 5 years.. And had no issues with staying. 

I am not laughing. I wish I had invested more, particularly a few days prior to the UK Brexit referendum!