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Settle an argument...

speedtripler
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speedtripler Gold Member

speedtripler

Posted
Posted

I have a friend who is in his 30's

He is coming back here soon and I told him the visas are a lot stricter thesedays...

He says it doesn't matter because he will be buying a condo this time so that will give him a right to live here

I said are you sure buying a condo comes with a visa? He said yep....

Seems too easy....

speedtripler Gold Member

speedtripler

Posted
  • Author
Posted

He is correct!

If he purchases a condo for 10 million Baht with money from overseas he can apply for an extension of stay based on investment.

He doesn't have ten million, he's talking around 3-4 million but would that our even 10 million qualify as an "investment" into the country of he only wants to live there himself ?

And is this meaning unlimited visas for the rest of his life if he owns a 10 million thb condo?

If that's true it would be pretty good deal for young guys compared to elite cards and the likes

MadMac Gold Member

MadMac

Posted
Posted (edited)

No, it wont. Suggest you look up the various "Thai Elite" threads.

Edited by MadMac
oncearugge Gold Member

oncearugge

Posted
Posted

He is correct!

If he purchases a condo for 10 million Baht with money from overseas he can apply for an extension of stay based on investment.

He doesn't have ten million, he's talking around 3-4 million but would that our even 10 million qualify as an "investment" into the country of he only wants to live there himself ?

And is this meaning unlimited visas for the rest of his life if he owns a 10 million thb condo?

If that's true it would be pretty good deal for young guys compared to elite cards and the likes

No "visas" available even if the 10 million condo can be afforded!

speedtripler Gold Member

speedtripler

Posted
  • Author
Posted

So, a condo you plan to live in is not officially an "investment" anyway I would have thought....

Therefore ownership of it doesn't give you any "rights" to live or work in Thailand without another appropriate visa or permission of stay ....

That's how I understood it also but he says the agent he spoke to (probably on commission) said he will get permission to stay 100% if he is a "property owner"...

It didn't make sense to me either but I wanted to check before telling him he's wrong :)

Soutpeel Star Member

Soutpeel

Posted
Posted

So, a condo you plan to live in is not officially an "investment" anyway I would have thought....

Therefore ownership of it doesn't give you any "rights" to live or work in Thailand without another appropriate visa or permission of stay ....

That's how I understood it also but he says the agent he spoke to (probably on commission) said he will get permission to stay 100% if he is a "property owner"...

It didn't make sense to me either but I wanted to check before telling him he's wrong :)

He might be looking at those condo that are being flogged and include a TE visa as part of the price....hence dealing with an agent

  • Like 1
elviajero Ruby Member

elviajero

Posted
Posted

"He says it doesn't matter because he will be buying a condo this time so that will give him a right to live here "

  • You are right that buying a condo does not give him the right to live here.

"I said are you sure buying a condo comes with a visa? He said yep...."

  • It's possible. As already said the Elite program has a deal with some developers. But this is for specific developments and not available otherwise.
speedtripler Gold Member

speedtripler

Posted
  • Author
Posted

The there is a membership program arranged between Thai Elite and property developers. See: http://www.thailandelite.com/glimpse.php

Any condos being bundled with the elite card are likely overpriced but we were discussing normal condos in the sales section of prakard etc

(ownership of a shoebox condo comes with no exception to the normal rules of stay from what I can Google )

Even having enough cash to buy a condo in your 30's means he still needs income for the next 40 odd years for other trivial items such as food and healthcare etc :)

He'll be online later , I'll direct him to this thread...

BritTim Diamond Member

BritTim

Posted
Posted

This link http://www.doingbusinessthailand.com/blog-thailand/doing-business-in-thailand/thailand-visa-and-work-permit/thailand-visas/thailand-visas-the-investment-visa.html purports to explain the conditions for an investment visa. There is a lot of small print not apparent from what is written there. For instance, not all condominium projects qualify (not saying it must be linked to the Thailand Elite program, but only approved projects qualify). In practice, unlike with the original investment visa of 3 million between 1997 and 2006, vanishingly few people have taken "advantage" of the new 10 million baht program introduced in 2009.

ubonjoe Legendary Member

ubonjoe

Posted
Posted

This link http://www.doingbusinessthailand.com/blog-thailand/doing-business-in-thailand/thailand-visa-and-work-permit/thailand-visas/thailand-visas-the-investment-visa.html purports to explain the conditions for an investment visa. There is a lot of small print not apparent from what is written there. For instance, not all condominium projects qualify (not saying it must be linked to the Thailand Elite program, but only approved projects qualify). In practice, unlike with the original investment visa of 3 million between 1997 and 2006, vanishingly few people have taken "advantage" of the new 10 million baht program introduced in 2009.

The 10 million baht investment extension has been possible for many years and long before 2009. and even before 1997.

Info on the investment extension of stay is here in clause 2.5 of Police Order 327/2557 basis for extension of stay.

  • Like 1
GOLDBUGGY Silver Member

GOLDBUGGY

Posted
Posted

He is correct!

If he purchases a condo for 10 million Baht with money from overseas he can apply for an extension of stay based on investment.

He doesn't have ten million, he's talking around 3-4 million but would that our even 10 million qualify as an "investment" into the country of he only wants to live there himself ?

And is this meaning unlimited visas for the rest of his life if he owns a 10 million thb condo?

If that's true it would be pretty good deal for young guys compared to elite cards and the likes

Well, it is not true. Owning a Condo gives him zero rights concerning getting a Visa. A Condo is also not counted towards the 10 M Investment.

gemguy Silver Member

gemguy

Posted
Posted

Not to worry...he will figure it out on his own as there are several ways to stay here long term or permanently ....but it all costs plenty of money.... any which way.

Cheers

  • Like 1
Firefan Platinum Member

Firefan

Posted
Posted

the 10mill Baht investment "visa" exists and can be a combo of condo, time deposit in Thai majority bank or gov bonds. There is as mentioned plenty of small print to be aware of such as the condo have to be new and from a Thai developer Etc.

To me it sounds like the OPs friend is looking at one of the condo/elite card combos which is ALSO real and yes; in both cases can you live in your investment and still get the visa! (that is the whole freaking idea!) cheers!

konying Gold Member

konying

Posted
Posted

He is correct!

If he purchases a condo for 10 million Baht with money from overseas he can apply for an extension of stay based on investment.

He doesn't have ten million, he's talking around 3-4 million but would that our even 10 million qualify as an "investment" into the country of he only wants to live there himself ?

And is this meaning unlimited visas for the rest of his life if he owns a 10 million thb condo?

If that's true it would be pretty good deal for young guys compared to elite cards and the likes

He is talking about Southpoint condo, where purchase comes with 5 year Elite Visa

mrfaroukh Silver Member

mrfaroukh

Posted
Posted

I remember there was a project where you could buy a condo and they provide you free VIP Card that give you 25 years visa or something like that. But the condo was way over priced. He can also spend 500 000 to get VIP Card valid for 5 years I guess

jacko45k Star Member

jacko45k

Posted
Posted (edited)

LOL, purchasing a condo barely qualifies as an investment that then grants you a right of stay smile.png

As I mentioned previously, one of the Pattaya area developers is offering one of the Elite Visas with the purchase of condos.

Terms and Conditions Apply.......

Edited by jacko45k

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