Does Owning Condo Help With Any Visa?

[wisemonkey]

I have bought a condo here, is this beneficial in anyway in applying for certain visas?

[Brit_Doggie]

Nope.

But you need a address so yup whether it rented shared blah blah.

No easier way to obtain a visa by purchase.

[ubonjoe]

Perhaps if you paid 10 million baht for it or could combine the purchase price of it with money from abroad in a Thai bank totaling 10 million baht. That would get an extension of stay based upon investment.

[RubberBroke]

Like Joe said.

[Jip99]

Short answer is no, but it may help you with evidence of address, when applying for your extension, without the need to take a Thai partner with you.

(I am assuming that if you have money to buy a condo you will get a visa, and subsequent extension, on the basis of retirement and show 800k in the bank).

[Torrens54]

Perhaps if you paid 10 million baht for it or could combine the purchase price of it with money from abroad in a Thai bank totaling 10 million baht. That would get an extension of stay based upon investment.

Now, if I'd known that years ago, wouldn't have wasted money "investing" in a rip-off franchise business here.

[Pattaya46]

Short answer is no, //

Why this answer? when UbonJoe already explained that YES, it can help to get a visa, an Investment one.

// it may help you with evidence of address, when applying for your extension, without the need to take a Thai partner with you.

??? You don't need a "Thai partner" to get a extension of stay.

Now, if I'd known that years ago, wouldn't have wasted money "investing" in a rip-off franchise business here.

And "years ago" you only needed 3 million baht, not 10 million

[Mr Wonderful]

Check with your local Thai embassy about the 10MB investment visa. It would seem to be a super easy way to get a visa to stay in Thailand without any of the annoying bank deposits etc.

I have several such condos but never asked about using the FETs to support a visa as I am on BoI investment visas already.

[condobrit001]

Perhaps if you paid 10 million baht for it or could combine the purchase price of it with money from abroad in a Thai bank totaling 10 million baht. That would get an extension of stay based upon investment.

I don't think so. I paid 17 million for my condo and asked if this would qualify me for an investment visa. The answer from Immigration in Bangkok was no. Purchases of any type of property would only qualify if you purchased the property from the "original" landowner. Most, if not all condos are constructed by development companies who have already purchased the land from the original owner. So this is not an option.

[wisemonkey]

Condo was around 7 mill, I have enough in savings to get over the 10 mill that I could put over. Im currently thinking of buying another condo, can you accumulate value from multiple properties for the visa?

Not old enough for retirement visa yet, 31 years old, a couple of decades away if I make it there.

[WhizBang]

Perhaps if you paid 10 million baht for it or could combine the purchase price of it with money from abroad in a Thai bank totaling 10 million baht. That would get an extension of stay based upon investment.

Nope, not any more. I paid over 10 million for my condo about 15 years ago. For a while I was able to get a 1 year non O based on investment. Then one year it was denied. I was told the rules have changed.

[Mr Wonderful]

Start a business under BOI then. 2MB minimum capital requires and pay yourself a 80,000-120,000 baht salary. Hire some Thais to do the admin work and you are good to go. Income tax exempt on the business as well.

[LALes]

The answer is no, but............

I always bring a copy of my chinote with me when I go to renew my retirement visa.

Maybe my imagination, but it seems to speed up the process and smooth things over.

Bottom line...it can't hurt.

[Berkshire]

Perhaps if you paid 10 million baht for it or could combine the purchase price of it with money from abroad in a Thai bank totaling 10 million baht. That would get an extension of stay based upon investment.

Isn't the whole rationale for an investment visa to encourage foreign companies to invest in Thailand and create jobs? Not for foreigners to own condos?

[Lee4Life]

Short answer is no, but it may help you with evidence of address, when applying for your extension, without the need to take a Thai partner with you.

(I am assuming that if you have money to buy a condo you will get a visa, and subsequent extension, on the basis of retirement and show 800k in the bank).

You are also assuming the op is over 50 years old

[huawei]

Perhaps if you paid 10 million baht for it or could combine the purchase price of it with money from abroad in a Thai bank totaling 10 million baht. That would get an extension of stay based upon investment.

I think it is 10 million of assessed value not on contract price..I had my lawyer look into it quite a few years ago regarding a new build, this is what the land department informed him..

[ubonjoe]

For all the nay Sayers.

From Police Order 327/2557 basis for extension of stay.

"2.5 In the case of investment:

Each permission shall be granted for no more than one year.

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

[Globalist]

To the OP:

Ubonjoe is 100% correct.

However, note that:

- the condos must be purchased directly from the developer, i.e. you must be the first deeds-holder, and

- if you have 2 or more condos to make up the 10M, then they have to be located the same province (this is a "policy" of most Thai immigration officers, although not stated in the police order)

[ubonjoe]

Perhaps if you paid 10 million baht for it or could combine the purchase price of it with money from abroad in a Thai bank totaling 10 million baht. That would get an extension of stay based upon investment.

I think it is 10 million of assessed value not on contract price..I had my lawyer look into it quite a few years ago regarding a new build, this is what the land department informed him..

It is the purchase price of the condo. That is the value of your investment. The land department has nothing to do with what immigration requires.

This for clause 2.5 shown in Immigration Bureau Order 138/2557 documents for extension of stay.

"4. Copy of a condominium purchase agreement and a copy of the ownership registration of said condominium issued by the government or relevant agency

[Emster23]

The answer is no, but............

I always bring a copy of my chinote with me when I go to renew my retirement visa.

Maybe my imagination, but it seems to speed up the process and smooth things over.

Bottom line...it can't hurt.

Here in Jomtien they REQUIRED a copy of my chanote.... but seems they were always looking for way to drive me/us crazy

[ChrisKC]

Short answer is no, //

Why this answer? when UbonJoe already explained that YES, it can help to get a visa, an Investment one.

// it may help you with evidence of address, when applying for your extension, without the need to take a Thai partner with you.

??? You don't need a "Thai partner" to get a extension of stay.

Now, if I'd known that years ago, wouldn't have wasted money "investing" in a rip-off franchise business here.

And "years ago" you only needed 3 million baht, not 10 million