Jacks77 Posted October 18, 2015 Share Posted October 18, 2015 I dont qualify for a retirement visa and dont want to marry a thai women. I am pondering between the elite visa or investor visa. Elite visa is very straight forward and simple to obtain. An investor visa per what I understand all is needed to qualify is to bring 10m baht and invest in Thailand. What qualifies as investment and what does not? Does real estate qualify? Is the application process simple or there is a lot of bureaucracy? Thank you 1 Link to comment Share on other sites More sharing options...
ubonjoe Posted October 18, 2015 Share Posted October 18, 2015 You can keep it the bank. Buy a condo. Or both money in the bank and s condo. 1 Link to comment Share on other sites More sharing options...
speedtripler Posted October 18, 2015 Share Posted October 18, 2015 You can keep it the bank. Buy a condo. Or both money in the bank and s condo. Just leave it in the bank as cash or does it have to go into stocks or government bonds etc? 1 Link to comment Share on other sites More sharing options...
ubonjoe Posted October 18, 2015 Share Posted October 18, 2015 It can be in the bank or government bonds. From clause 2.5 of Police Order 327/2557 basis for extension of stay translated "(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million" Condo is (3). 2 Link to comment Share on other sites More sharing options...
speedtripler Posted October 18, 2015 Share Posted October 18, 2015 It can be in the bank or government bonds. From clause 2.5 of Police Order 327/2557 basis for extension of stay translated "(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million" Condo is (3). A "fixed" deposit probably means the cash is stuck for whatever duration at Thai bank rates, 2-3% I hear is the best they offer, a condo in a good area might be a better investment.... 1 Link to comment Share on other sites More sharing options...
Popular Post oncearugge Posted October 18, 2015 Popular Post Share Posted October 18, 2015 It can be in the bank or government bonds. From clause 2.5 of Police Order 327/2557 basis for extension of stay translated "(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million" Condo is (3). A "fixed" deposit probably means the cash is stuck for whatever duration at Thai bank rates, 2-3% I hear is the best they offer, a condo in a good area might be a better investment.... Have you ever tried to sell a second hand condo ? No one should, IMHO, invest in a condo in the hope/expectation of capital gain. 10 Link to comment Share on other sites More sharing options...
speedtripler Posted October 18, 2015 Share Posted October 18, 2015 It can be in the bank or government bonds. From clause 2.5 of Police Order 327/2557 basis for extension of stay translated "(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million" Condo is (3). A "fixed" deposit probably means the cash is stuck for whatever duration at Thai bank rates, 2-3% I hear is the best they offer, a condo in a good area might be a better investment.... Have you ever tried to sell a second hand condo ? No one should, IMHO, invest in a condo in the hope/expectation of capital gain. I was but thinking about selling it, but rather that the rent saved by owning it would be worth more than 2%... Not to mention the overall visa costs of doing it another way Even if you sell the condo in 10-20 years and get the same price you payed , you have saved 10-20 years of rent and the cost of visa runs or elite cards etc Link to comment Share on other sites More sharing options...
oncearugge Posted October 18, 2015 Share Posted October 18, 2015 It can be in the bank or government bonds. From clause 2.5 of Police Order 327/2557 basis for extension of stay translated "(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million" Condo is (3). A "fixed" deposit probably means the cash is stuck for whatever duration at Thai bank rates, 2-3% I hear is the best they offer, a condo in a good area might be a better investment.... Have you ever tried to sell a second hand condo ? No one should, IMHO, invest in a condo in the hope/expectation of capital gain. I was but thinking about selling it, but rather that the rent saved by owning it would be worth more than 2%... Not to mention the overall visa costs of doing it another way Even if you sell the condo in 10-20 years and get the same price you payed , you have saved 10-20 years of rent and the cost of visa runs or elite cards etc Have you accounted for the "rent" paid in the form of management/maintenance costs? A 10 mill condo would attract a big ongoing expense ! 1 Link to comment Share on other sites More sharing options...
speedtripler Posted October 19, 2015 Share Posted October 19, 2015 (edited) Have you accounted for the "rent" paid in the form of management/maintenance costs? A 10 mill condo would attract a big ongoing expense ! Over a decade or two , I think it still works out cheaper than elite cards but you get the benefit of living in a pretty good condo if 10 million is the budget... Like anything else it depends on what you can afford etc and location is everything 10 million on lower sukumvit isn't the same as 10 million in regular "Thai" land... Edited October 19, 2015 by ubonjoe fixed quoting error by removing the excess and uneeded quotes only 4 are allowed Link to comment Share on other sites More sharing options...
ukrules Posted October 19, 2015 Share Posted October 19, 2015 Can you continue to renew the investment visa on an ongoing basis for many years of continuous stay in Thailand ? From what I've read in the past this is where the problems start. 1 Link to comment Share on other sites More sharing options...
davemos Posted October 19, 2015 Share Posted October 19, 2015 Hi just wondering if one has condos how are they valued? Is it purchase price or price at valuation .How do you get a valuation that's accepted by the investment rules ? Link to comment Share on other sites More sharing options...
ubonjoe Posted October 19, 2015 Share Posted October 19, 2015 Can you continue to renew the investment visa on an ongoing basis for many years of continuous stay in Thailand ? From what I've read in the past this is where the problems start. You can stay indefinitely as long as you maintain the 10 million investment. Hi just wondering if one has condos how are they valued? Is it purchase price or price at valuation .How do you get a valuation that's accepted by the investment rules ? It is the purchase price. That is your investment and it does not change.. Link to comment Share on other sites More sharing options...
Lekong Posted October 19, 2015 Share Posted October 19, 2015 The OP seems to have money. Why don't you just pay for the elite visa that will give you 6 years of stay for 500k in peace than going through the headache that investing here could cost you. Or let alone just deposit the money (10m) in the bank and get the investment visa as someone suggested. From all what I have read investing here may be the highest risk that one can take. 2 Link to comment Share on other sites More sharing options...
mjakob007 Posted October 19, 2015 Share Posted October 19, 2015 It can be in the bank or government bonds. From clause 2.5 of Police Order 327/2557 basis for extension of stay translated "(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million" Condo is (3). Is it a requirement that the 10M should be invested in one condo. Does investment of 10M in a couple of condos, over 2 years, qualify? Link to comment Share on other sites More sharing options...
oncearugge Posted October 19, 2015 Share Posted October 19, 2015 It can be in the bank or government bonds. From clause 2.5 of Police Order 327/2557 basis for extension of stay translated "(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million" Condo is (3). Is it a requirement that the 10M should be invested in one condo. Does investment of 10M in a couple of condos, over 2 years, qualify? Doubt it ! One investment , one new condo or a condo + "bank" investment. Link to comment Share on other sites More sharing options...
bimmerbob Posted October 19, 2015 Share Posted October 19, 2015 The OP seems to have money. Why don't you just pay for the elite visa that will give you 6 years of stay for 500k in peace than going through the headache that investing here could cost you. Or let alone just deposit the money (10m) in the bank and get the investment visa as someone suggested. From all what I have read investing here may be the highest risk that one can take. ...can the 10m equivalent be held in usd, ukp or euros in a thai bank? Also, up to what amount is 'protected' by law per bank? Link to comment Share on other sites More sharing options...
csabo Posted October 19, 2015 Share Posted October 19, 2015 Have you accounted for the "rent" paid in the form of management/maintenance costs?A 10 mill condo would attract a big ongoing expense ! There is apparently no inflation or exchange fluctuation in his fantasy world either. Link to comment Share on other sites More sharing options...
Zadig Posted October 19, 2015 Share Posted October 19, 2015 If i read section 2.20 of translated police order 327/2557 (posted by Ubonjoe above) it says the investor's alien family members also get yearly visa's ? Link to comment Share on other sites More sharing options...
paz Posted October 19, 2015 Share Posted October 19, 2015 Is the application process simple or there is a lot of bureaucracy? Just to to put things in perspective: in this forum there is not a single repor, proven or not, of anyone having obtained an extension of stay for investment. If there is, I will happily stand corrected. Link to comment Share on other sites More sharing options...
thaibeachlovers Posted October 19, 2015 Share Posted October 19, 2015 (edited) The OP seems to have money. Why don't you just pay for the elite visa that will give you 6 years of stay for 500k in peace than going through the headache that investing here could cost you. Or let alone just deposit the money (10m) in the bank and get the investment visa as someone suggested. From all what I have read investing here may be the highest risk that one can take. Is the 500k for the elite card a cost or a bond/ deposit that you can get back? Seems a hell of a lot to pay just for a visa, or are there lots of other things you can do with it too? 6 years with non O extensions is only 9,500 plus initial cost, plus agent if used. At least by putting 10 mil in the bank you get it all back when you want it. Edited October 19, 2015 by thaibeachlovers Link to comment Share on other sites More sharing options...
paz Posted October 19, 2015 Share Posted October 19, 2015 (edited) Is the 500k for the elite card a cost or a bond/ deposit that you can get back? Seems a hell of a lot to pay just for a visa, or are there lots of other things you can do with it too? 6 years with non O extensions is only 9,500 plus initial cost, plus agent if used. At least by putting 10 mil in the bank you get it all back when you want it. No you don't get back anything. There are many threads on the matter that you can read. Not everyone can have what you call "non O extensions", because not everyone is older than 50, or married, or working. And as mentioned the investment extension is hard or impossible to obtain. Edited October 19, 2015 by paz Link to comment Share on other sites More sharing options...
jacko45k Posted October 19, 2015 Share Posted October 19, 2015 It can be in the bank or government bonds. From clause 2.5 of Police Order 327/2557 basis for extension of stay translated "(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million" Condo is (3). A "fixed" deposit probably means the cash is stuck for whatever duration at Thai bank rates, 2-3% I hear is the best they offer, a condo in a good area might be a better investment.... It might, and it might not. I think some areas of BKK might work, perhaps where a new Metro station is planned, elsewhere is a risk. I feel at least your money will still be there after the fixed deposit term. That could be just a few months, or a few years. With a regular bank fixed term deposit you could access the money immediately if urgently needed. 1 Link to comment Share on other sites More sharing options...
aronp1 Posted October 19, 2015 Share Posted October 19, 2015 It can be in the bank or government bonds. From clause 2.5 of Police Order 327/2557 basis for extension of stay translated "(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million" Condo is (3). A "fixed" deposit probably means the cash is stuck for whatever duration at Thai bank rates, 2-3% I hear is the best they offer, a condo in a good area might be a better investment.... Have you ever tried to sell a second hand condo ? No one should, IMHO, invest in a condo in the hope/expectation of capital gain. You must rent the condo. Not sell it. I would buy separate apartments 4-5 and then rent those out. 1 Link to comment Share on other sites More sharing options...
speedtripler Posted April 26, 2016 Share Posted April 26, 2016 sorry to dig up an old thread but i had a couple of questions regarding this if i sink 10 million thb into krungthai bank in the morning in their fixed account at 2% what visa does this allow me ? (as in whats the official name for it or how to approach immigration and apply ? ) are there charges like 1900 every 90 days or any other costs ? is it unlimited multiple entries ? do i even have to leave the country if i dont need to ? why do more people not just do this rather than pay for elite visas and unnecessary flights etc ? Link to comment Share on other sites More sharing options...
Oxx Posted April 27, 2016 Share Posted April 27, 2016 Technically it's not a visa, it's an extension of stay based upon investment in the Kingdom. You need to have a preexisting visa (or extension of stay) and then extend for a further year based upon investment. Extensions are annual and cost 1,900 baht. Before leaving the country you must purchase a reentry permit, otherwise the extension of stay will be cancelled when you leave the country. From memory, single reentry costs 1,000 baht, and multiple reentry costs 3,800 baht. Reentry permit expires when the extension of stay expires, so many people get a multiple reentry permit at the same time as they make their annual extension. You don't ever have to leave the country if you don't want to. As for why it's not more popular, well, it is quite expensive, and Immigration doesn't like you being on it. From just before I turned 50 I was pressured by Immigration to switch to a retirement extension. After a few years they refused to give me a further investment extension on spurious grounds, and would only let me extend as retired which means I can no longer work if I want to. 1 Link to comment Share on other sites More sharing options...
gerry1011 Posted April 27, 2016 Share Posted April 27, 2016 If there is a wish to stay long term in Thailand... If there is a need for a long term visa... If there is 10,000,000 on the bank account in order to achieve the above... - Invest the 10,000,000 in a condo, get an investor visa, go through the troubles of getting it, not being sure how long it will last, and renew it every year. - Get a full Thailand Elite membership for 2,000,000, get a super easy 5 years visa, renewable for 20 years, get extra privileges, no headaches, and invest 8,000,000 in a condo (or not). It is a bit simplistic calculation, of course. But basically, if the goal is to have a happy and easy life in Thailand, the Thailand Elite option makes more sense. Link to comment Share on other sites More sharing options...
Ks45672 Posted April 27, 2016 Share Posted April 27, 2016 if it were as simple as having 10 mil in a bank making you a profit i think it would be easy to promote to those who can afford it (its only 195k GBP ) i have never in my life met anyone who got a visa for keeping money in a thai bank and i know some who have well over 10 mil in thai investments is it possible to get this at any age ? is it even still available ? does it have to be in 1 bank or a combination of banks ? i cant recall seeing it listed as an option on any immigration forms ive had to choose from during the last years i have no interest in limos or golf courses or spas so paying 2 million thb for the elite seems like a waste of 2 mill i also dont wish to afix myself to thailand for 5 or 20 years because of a myriad of reasons if anyone knows more info plz post it ,i shall ask our lawyer if its still possible when i next speak with him in bkk 1900 a year sounds good to me with no commitments .if thailand gets boring you would be able to leave (unlike condo owners and without blowing 2 mil on an elite card) Link to comment Share on other sites More sharing options...
ubonjoe Posted April 28, 2016 Share Posted April 28, 2016 if it were as simple as having 10 mil in a bank making you a profit i think it would be easy to promote to those who can afford it (its only 195k GBP ) i have never in my life met anyone who got a visa for keeping money in a thai bank and i know some who have well over 10 mil in thai investments is it possible to get this at any age ? is it even still available ? does it have to be in 1 bank or a combination of banks ? i cant recall seeing it listed as an option on any immigration forms ive had to choose from during the last years i have no interest in limos or golf courses or spas so paying 2 million thb for the elite seems like a waste of 2 mill i also dont wish to afix myself to thailand for 5 or 20 years because of a myriad of reasons if anyone knows more info plz post it ,i shall ask our lawyer if its still possible when i next speak with him in bkk 1900 a year sounds good to me with no commitments .if thailand gets boring you would be able to leave (unlike condo owners and without blowing 2 mil on an elite card) I am sure there are more people than you think that have extension of stay based upon investment with money in Thai banks. It could be more than in one account. What you have to be careful about is that the amount never goes below 10 million baht during the year prior to applying for a new extension after you get the first one. From police order 327/2557 clause 2.5. B. Investment of no less than Baht 10 million: The alien: (1) Must have been granted a non-immigrant visa (NON-IM). (2) Must have evidence of transferring funds into Thailand of no less than Baht 10 million. (3) Must have evidence of investing in the purchase or rental of a condominium unit for a period of no less than 3 years issued by a relevant agency or government, at a purchase or rental price of no less than Baht 10 million: or (4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent ;or (5) Must have evidence of investing in the purchase of government or state enterprise bonds of no less than Baht 10 million; or (6) Must have evidence of making an investment as set out in Criteria (3), (4), or (5) with a total value of not less than Baht 10 million Link to comment Share on other sites More sharing options...
B1TcoinLife Posted April 28, 2016 Share Posted April 28, 2016 This is interesting to me too, How would you get a NON-IM VISA if you just get off the plane with your 10 million to invest? You would be on an exemption stamp or a tourist visa....at least innitially Would there be an easy way to bring in the money, bank it and get a letter from the bank as "proof" for immigration to consider? ... Link to comment Share on other sites More sharing options...
ubonjoe Posted April 28, 2016 Share Posted April 28, 2016 This is interesting to me too, How would you get a NON-IM VISA if you just get off the plane with your 10 million to invest? You would be on an exemption stamp or a tourist visa....at least innitially Would there be an easy way to bring in the money, bank it and get a letter from the bank as "proof" for immigration to consider? ... Once you have the 10 million transferred into a Thai bank you can convert a visa exempt or tourist visa entry to a 90 day non immigrant visa entry at Bangkok immigration. You would need at least 15 days remaining on your entry or the 30 day extension of the entry. The bank would need to provide a letter confirming the funds were transferred from abroad and the balance on the date the letter was written. The bank will be familiar with doing the letter. Link to comment Share on other sites More sharing options...
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