Pay and stay, through the Investment Visa

[paz]

Who would do such a ridiculous thing?

What is ridiculous? Owning (condo) property or bonds in a low taxation country is not. To me ridiculous is giving out $15,000 for 5 years, never to be seen again, but that is just my opinion, so please Thai visa holders just ignore my comment.

[maidee]

last time i checked, my western bank now gives 0.10% intrest per year !

[Cpkt8]

Is that 10 million investment tax reclaimable? Currently one must have proof of stay in Thailand for at least 180 days in order to be able to get tax refund.

How would you claim a refund for something that is not taxed. If you left it in a bank account and had tax deducted for interest earned you could claim a refund.

The 180 days is only for tax liability for certain income that is taxable not to get a refund.

I have FD in a bank and tax was deducted. However when I tried to claim tax refund for last year, the officer said they want proof of my stay in Thailand for at least 180 days per year. Till now they have not approve my refund submission.

[Fab5BKK]

Interesting comment!

I guess you need to read the article again and very slowly...

BTW, a western term deposit account delivering some kind of healthy interest (meaning after tax and inflation)... Please tell us more!

surely the elite card is a cheaper option?

Not really as for TE you put your 2.0 million or 500k in and the money is gone, but a 10million investement visa has resulted in some " assets" which in theory at least should increase in value...at very worst in theory....you get all your money back

You seriously think it is wise to invest 10million? ... and invest it in what reasonably safe project? At least the Elite card only costs 500k for 5 years - afaik. 10 million in a western term deposit would just about make enough to pay the Elite card, and virtually no risk on the original nest egg

You stll have to renew annually and do 90 day reports and apply for re-entry permits.

[gamini]

surely the elite card is a cheaper option?

Not really as for TE you put your 2.0 million or 500k in and the money is gone, but a 10million investement visa has resulted in some " assets" which in theory at least should increase in value...at very worst in theory....you get all your money back

You seriously think it is wise to invest 10million? ... and invest it in what reasonably safe project? At least the Elite card only costs 500k for 5 years - afaik. 10 million in a western term deposit would just about make enough to pay the Elite card, and virtually no risk on the original nest egg

You stll have to renew annually and do 90 day reports and apply for re-entry permits.

Thailand is a good country to invest in and in spite of everything the Thai bt is a good currency. I bought in to 10 million| th baht worth of UK pounds at 73 to the UK pound. The UK pound went down to 47 bt and now it's about 55. I bought a condo with some of the money and that has gone up about 20% in value which against the UK pounds and I bought into buy means a nearly 50% profit. I invested money in Bumrungrad hospital shares at 87 bt two years ago and now they are to 240bt. I also bought a lot of Italthai shares which have doubled. All the properties that we have bought in Thailand have all increased in value. I also took all my money out of Australia at 33 baht to the dollar and now it's 24.

My view is that if you're going to live in Thailand you should invest here in property and good shares. Just get a good broker

[Bulldozer Dawn]

The only person I can possibly images using this visa is some one under 50.

If you are already 50 why would you risk having 10 million baht of your money here when you only have to risk 800K for the retirement extension.

[theguyfromanotherforum]

10 million is a better option than elite. The real problem is most currencies besides the US dollar are in the toilet comparing to Thai baht. There is a real danger of losing on exchange rate long term.

Also, no condo in Thailand is worth 10 million.

[koo]

last time i checked, my western bank now gives 0.10% intrest per year !

And I just checked, Thai Government 10 bonds yield 2-6% a year (2,80% currently for the 10Y), so if you have 10 million baht extra around, it is definitely worth it.

In 5 years you have earned nearly 1,5 M baht interest, instead of just giving away 500k or 2M for Elite.

It's the small difference of making or losing money while staying in Thailand

[paz]

last time i checked, my western bank now gives 0.10% intrest per year !

And I just checked, Thai Government 10 bonds yield 2-6% a year (2,80% currently for the 10Y), so if you have 10 million baht extra around, it is definitely worth it.

In 5 years you have earned nearly 1,5 M baht interest, instead of just giving away 500k or 2M for Elite.

It's the small difference of making or losing money while staying in Thailand

I agree with you but as noted earlier there has never been one single report of anyone obtaining this type of extension, while there are various reports of people being refused for one reason or another.

[Maestro]

Who, meeting the published requirements, has been refused the investment extension of stay?

[paz]

Who, meeting the published requirements, has been refused the investment extension of stay?

I didn't collect the links but it some cases it was flat refusals, or requirement not met without saying what the person would have to do exactly (beside bringing in the sum). There are various of these but as mentioned, no positive reports either.

[HerbalEd]

It all sounds too complicated to me. I'll stick to my self-imposed rule - 20% of funds in Thailand, 80% in country of origin. Retirement visa.

I sometimes wonder if the Thais don't enjoy watching falangs thai themselves up in knots over the various visas available.

Most likely 99.5% of Thais never ever think about foreigners' visas.

[hawker9000]

Who in his right mind would want to "invest" 1 baht more than absolutely necessary in a place like Thailand (unless you're a foreign govt handing out aid, i.e., taxpayer money, to buy "friends"; or somebody with friends in sufficiently high places). Buy your condo (which really shouldn't cost you B10M); living expenses as necessary; but invest? No thanks. 'Better things to do with a quarter mill (USD).

[fred Kubasa]

While other countries are offering incentives to Ex Pats and tourists,

Thailand has little to offer & yet CHARGES for any concession from rigid

Immigration regulations & not without restrictions . Unique route to

encourage people to come here !

[Gulfsailor]

While other countries are offering incentives to Ex Pats and tourists,

Thailand has little to offer & yet CHARGES for any concession from rigid

Immigration regulations & not without restrictions . Unique route to

encourage people to come here !

Thailand may not offer much to you, but the enormous amount of foreign tourists visiting every year may differ in opinion. Visiting Thailand temporarily as a tourist or non resident is extremely easy for most nationalities. Only for full time residence some restrictions are imposed.

[jpinx]

Interesting comment!

I guess you need to read the article again and very slowly...

BTW, a western term deposit account delivering some kind of healthy interest (meaning after tax and inflation)... Please tell us more!

surely the elite card is a cheaper option?

Not really as for TE you put your 2.0 million or 500k in and the money is gone, but a 10million investement visa has resulted in some " assets" which in theory at least should increase in value...at very worst in theory....you get all your money back

You seriously think it is wise to invest 10million? ... and invest it in what reasonably safe project? At least the Elite card only costs 500k for 5 years - afaik. 10 million in a western term deposit would just about make enough to pay the Elite card, and virtually no risk on the original nest egg

You stll have to renew annually and do 90 day reports and apply for re-entry permits.

http://www.depositrates.co.nz/interest-rates/term-deposits.html?g12=1&by_provider=

[Lou Provencaou]

Hello

jpnx the datas on your site are very interesting and quite impressive. thanks for providing it. Does the same thing exists for Europe and France in particular also? rabobank is there too and that would help a lot. I have just sold a land and it is very difficult to find something with an interesting rate and very secure. An equivalent table to the one that you provide would be very helpfull and interesting.

Concerning the investment visa can somebody explain where (what banks in Thailand and how can we estimate the safety of the deposit) can we check for the fixed interest deposit and what rate of interest can we expect investing on the securest account possible?

Thanks in advance for all help and information :-)

[elviajero]

While other countries are offering incentives to Ex Pats and tourists,

Thailand has little to offer & yet CHARGES for any concession from rigid

Immigration regulations & not without restrictions . Unique route to

encourage people to come here !

Thailand is the most popular country in the region and doesn't need to encourage visitors in the same way as other countries do. IMO Thailand will have to make it harder for long term expats in the future otherwise there will be too many here.

[Pattaya46]

Also, no condo in Thailand is worth 10 million.

This kind of stupid comment always make me smile.

Just in Pattaya there are tens of condos worth more than 100'000'000 baht ! (yes, one hundred million)

Many more with higher prices in Bangkok.

Of course they are not shoes box in some View Talay condo,

but often high quality penthouses with a rather big surface.

[KittenKong]

Just in Pattaya there are tens of condos worth more than 100'000'000 baht ! (yes, one hundred million)

Many more with higher prices in Bangkok.

"Priced at" more than 100MB, maybe. But worth it? I doubt it.

Let us know when one of them actually sells for that price.

[KittenKong]

My view is that if you're going to live in Thailand you should invest here in property and good shares.

My view is that I prefer to invest in countries in which I have right of abode. My retirement extension is only valid for one year at a time with no guarantee at all that it will be renewed. So I'll just leave my money elsewhere, where I know that I can go and live indefinitely without asking permission from anyone.

[Pattaya46]

"Priced at" more than 100MB, maybe. But worth it? I doubt it.

Let us know when one of them actually sells for that price.

I remember reading that the penthouse at NorthShore last has been bought for 110 million THB (or near?)

It's about 1'000 SQM and includes a swimming pool !

PS: It is for sell again, at 140'000'000 B... http://pattayacondoguide.com/details-for/pattaya-penthouse-modern-living,-disign,-quality-and-luxury-at-it-for-sale-in-North-Pattaya-Pattaya,41106.html

[faranglaowai]

Our business here owns a home worth about 10 MTB. With othere fixed term deposits, insurance annuities, land etc, etc.

Can the house and property figure into the equation?

And what about land that my wife and I have invested in?

All together about 30 MTB worth of assets.

It has to be a condo in your name. No house or property can be used.

A fixed term deposit can be used but it has to be proved the money came from abroad.

See clause 2.5 of Police Order 327/2557 basis for extension of stay which states what can be used.

This is all very interesting to me at the moment. I have had a couple of years of benefit on the ED-visa and learned the language to a level that I am getting comfortable in basic conversation and considering a change next time when my ED-visa will require renewal early in the new year.

I have visited Jomtien immigration and they confirmed that the extension of stay based on having invested 10MM baht is possible and can be done same-day with all the paperwork in order.

I was however told that I cannot use my existing ED visa as the basis for the extension and would need to get another Non-Immigrant visa by leaving and applying abroad. Since I though that the ED visa was a Non-Imm visa, am looking for feedback from anyone who has experience with this.

Also, it seems that all Thai banks are not suitable to hold the money in fixed account - Krungsri for example is majority foreign owned and therefore does not meet the qualification criteria for this.

The other item that is completely unclear is how long the term of the fixed deposit needs to be. The immigration officer was unable to confirm exactly what was acceptable.

Hope someone has the direct experience or knowledge. In any event, I will likely move down this route and will be happy to report back on my findings.

Thank you

[ubonjoe]

Our business here owns a home worth about 10 MTB. With othere fixed term deposits, insurance annuities, land etc, etc.

Can the house and property figure into the equation?

And what about land that my wife and I have invested in?

All together about 30 MTB worth of assets.

It has to be a condo in your name. No house or property can be used.

A fixed term deposit can be used but it has to be proved the money came from abroad.

See clause 2.5 of Police Order 327/2557 basis for extension of stay which states what can be used.

This is all very interesting to me at the moment. I have had a couple of years of benefit on the ED-visa and learned the language to a level that I am getting comfortable in basic conversation and considering a change next time when my ED-visa will require renewal early in the new year.

I have visited Jomtien immigration and they confirmed that the extension of stay based on having invested 10MM baht is possible and can be done same-day with all the paperwork in order.

I was however told that I cannot use my existing ED visa as the basis for the extension and would need to get another Non-Immigrant visa by leaving and applying abroad. Since I though that the ED visa was a Non-Imm visa, am looking for feedback from anyone who has experience with this.

Also, it seems that all Thai banks are not suitable to hold the money in fixed account - Krungsri for example is majority foreign owned and therefore does not meet the qualification criteria for this.

The other item that is completely unclear is how long the term of the fixed deposit needs to be. The immigration officer was unable to confirm exactly what was acceptable.

Hope someone has the direct experience or knowledge. In any event, I will likely move down this route and will be happy to report back on my findings.

Thank you

Many immigration offices do not consider all non immigrant visas equal. The lowest quality one is the non-ed in their opinion.

You could get a non-b visa for investment once you have the money in the bank with required proof it came from abroad. But you might have problems at some of the nearby embassies and consulates getting it though.

One option is to leave and re-enter to get a visa exempt entry and then apply for a conversion to a 90 day non immigrant visa entry based upon qualifying tor an investment extension at Bangkok immigration. You would have to do the application prior to the last 15 days of your entry. It will take 2 trips to immigration to get the visa/entry stamps. Then you could apply for the extension at Jomtien immigration during the last 30 days of the 90 day entry.

I don't believe three is any requirement that states the length of a fixed term account. Once the money is in the country and you never let your balance go below 10 million you would not have a problem.

Not sure about the Thai majority ownership. If it is a registered Thai bank it should meet the requirements.

[faranglaowai]

Thanks ubonjoe for the advice. I hope that the term of the deposits is as you say.

It might be worth a trip to Bangkok immigration to see if they consider the Non-Immigrant ED visa an acceptable starting point for the extension of stay based on Investment.

I will also try to get further clarification on which banks are acceptable.

[ubonjoe]

Bangkok immigration would not do the extension for you since your are not living in Bangkok.They also consider the ED visa not a good one. They have refused to change an extension to retirement from and education one.

The will do the conversion to get a non immigrant visa because they are the only ones that can do it.

[faranglaowai]

So, took my latest trip back to Immigration in Jomtien today together with all my documents for confirmation that all is in order:

1. Condo ownership details

2. Fixed deposit in Thai bank (with total including condo in excess of 10 million baht)

They confirmed that all was in order but that I would need to get a Non-O visa before I could apply for the extension based on investment.

I also presented my wife's passport (she has Non-O) visa with current stay ending 30 Nov, explaining that I would like her to be able to get extension of stay based on my investment. They confirmed that was fine after checking marriage certificate.

The issue that I now have is as follows:

If I go out and apply for a Non-O visa, it will be for 90 days and I can only get an extension of stay after 60 of those days which will take the date past my wife's extension of stay date.

Is there a way to get my Non-O to be for only 30 or 60 days?

@ubonjoe, I hope there is an easier answer than both of us having to exit and get a Non-O ... and by the way, what would the reason for my Non-O be?

[ubonjoe]

You can only get a 90 day entry from non immigrant visa.

You can apply for a non immigrant visa at Bangkok immigration based upon qualifying for an extension based upon investment. You will need to show all the documents needed for the extension. It will take 2 trips to immigration to get the visa and entry stamps.

The 90 days will start on the date you apply for the visa. If you got it soon you would be able to get the extension before your wife's non-o ends. Jomtien has been reported as doing extensions up to 45 days early.

[faranglaowai]

Thanks for the help and advice. I think it will be easiest for both my wife and I to exit just before her current permission to stay expires, both apply for Non-O single entry and then get the 1 year extension based on investment close to the 90 days.

I will report back on progress at each step.

[HampiK]

Thanks for the help and advice. I think it will be easiest for both my wife and I to exit just before her current permission to stay expires, both apply for Non-O single entry and then get the 1 year extension based on investment close to the 90 days.

I will report back on progress at each step.

Happy to read more about this story. I am not sure if i should go for an investment or mariage visa in the future... still think about this 2 possibility...