10million baht "Investor Visa" still available?

[Mysterion]

Hi all,

Is there any recent official updates on whether or not the Investor Visa extension is still available for condo purchasers and/or fixed deposits totalling 10million baht?

Anyone here get granted the Investor Visa extension recently? How was your experience?

Does buying a re-sale condo qualify?

Does the visa also cover immediate family members as well(foreign spouse and children)?

Are you able to exit/enter Thailand as often as you want under a one year investor visa extension?

Thanks.

Edited July 13, 2016 by Mysterion

[elviajero]

Visas and extensions of stay based on investment of a minimum 10 million baht are still available.

[ubonjoe]

There is a one year extension of stay (not a visa) available for a investment of 10 million baht under clause 2.5 of Police Order 327/2557 basis for extension of stay.

[Mysterion]

Visas and extensions of stay based on investment of a minimum 10 million baht are still available.

Thanks for the reply.

Any thoughts on the additonal questions added in the op regarding new vs resale condo, family inclusion, exit/re-entry?

[ubonjoe]

Your family members can get extensions of stay as your dependents after you get your extension.

If you want to travel you will need a re-entry permit to keep your extensions valid. The fee for a single re-entry permit is 1000 baht and a multiple is 3800 baht.

Recent reports indicate that it has to be a new condo.

[Mysterion]

thanks again ubonjoe.

Anything offical about whether a resale condo qualifies? The police document doesnt specify new or resale.

Edited July 13, 2016 by Mysterion

[manarak]

There is a one year extension of stay (not a visa) available for a investment of 10 million baht under clause 2.5 of Police Order 327/2557 basis for extension of stay.

I'd be interested to know what supporting documents immigration is asking for before issuing an "investment" extension?

[elviajero]

Visas and extensions of stay based on investment of a minimum 10 million baht are still available.

Thanks for the reply.

Any thoughts on the additonal questions added in the op regarding new vs resale condo, family inclusion, exit/re-entry?

You would enter the country with a single entry non immigrant visa. You would be granted permission to stay for 90 days. Within the last 30 (maybe 45) days you can apply for a 1 year extension of stay, as per Ubonjoe's post. Your family would also enter with non immigrant visas and once you are granted your extension of stay they can apply for an extension of stay as your spouse/children.

Traveling is no problem. You can exit/re-enter as often as you want, but each person traveling would need to buy a re-entry permit before leaving. On re-entry they'd be granted permission to stay for the remainder of the extension of stay.

[Mysterion]

Visas and extensions of stay based on investment of a minimum 10 million baht are still available.

Thanks for the reply.

Any thoughts on the additonal questions added in the op regarding new vs resale condo, family inclusion, exit/re-entry?

You would enter the country with a single entry non immigrant visa. You would be granted permission to stay for 90 days. Within the last 30 (maybe 45) days you can apply for a 1 year extension of stay, as per Ubonjoe's post. Your family would also enter with non immigrant visas and once you are granted your extension of stay they can apply for an extension of stay as your spouse/children.

Traveling is no problem. You can exit/re-enter as often as you want, but each person traveling would need to buy a re-entry permit before leaving. On re-entry they'd be granted permission to stay for the remainder of the extension of stay.

Thanks for further info.

Are you aware of anything official about a resale condo qualifying for the investment visa extension?

Are the extensions renewed easily if you continue to own the condo?

[elviajero]

Thanks for further info.

Are you aware of anything official about a resale condo qualifying for the investment visa extension?

Are the extensions renewed easily if you continue to own the condo?

• No I'm not, but I don't see any reason why it has to be a new property. As far as I'm aware it's the purchase price that counts.
• Yes, but you effectively apply for a new extension of stay every year and would be required to show evidence of your investment each year.

Are you over 50?

[ubonjoe]

My understanding is that if you go the condo route you have to hold the property for 3 years before you can get a 1 year extension of stay.

Is this correct?

The 3 years is for renting a condo. From B (6) "or rental of a condominium unit for a period of no less than 3 years" of clause 2.5.

[Mysterion]

Thanks for further info.

Are you aware of anything official about a resale condo qualifying for the investment visa extension?

Are the extensions renewed easily if you continue to own the condo?

• No I'm not, but I don't see any reason why it has to be a new property. As far as I'm aware it's the purchase price that counts.
• Yes, but you effectively apply for a new extension of stay every year and would be required to show evidence of your investment each year.

Are you over 50?

I am a few years less than 50, so cannot get retirement visa.

Some folks have said condo must be brand new, but others say it doesnt matter if new or resale. How could i get clarity on this?

How can you show proof/evidence of continued condo ownership when going to renew the extension each subsequent year?

Edited July 13, 2016 by Mysterion

[ubonjoe]

This from the Bangkok immigration website for doing a change of visa for investment. You need to be using IE or a browser with an extension to view them here: http://bangkok.immigration.go.th/en/base.php?page=service#

6.1 Condominium title deed, which is in the Applicant’s name, and, in the particulars of registration, the Applicant must be the first purchaser;

6.2 A copy of the sale and purchase agreement of the condominium unit made by the Applicant and the project owner/company and a copy of the registration showing that the Applicant is the owner of the condominium unit, which is issued by the relevant agency or government authority;

[faranglaowai]

This from the Bangkok immigration website for doing a change of visa for investment. You need to be using IE or a browser with an extension to view them here: http://bangkok.immigration.go.th/en/base.php?page=service#

6.1 Condominium title deed, which is in the Applicant’s name, and, in the particulars of registration, the Applicant must be the first purchaser;

6.2 A copy of the sale and purchase agreement of the condominium unit made by the Applicant and the project owner/company and a copy of the registration showing that the Applicant is the owner of the condominium unit, which is issued by the relevant agency or government authority;

This is correct. You need to be the first registered sale on the back of the title deed of the condo. If you buy a resale condo before that sale is registered on the back of the title deed then that would qualify. You would also need a contract between yourself and the entity that is registered as selling the condo to you, according to what is recorded on the rear of the title deed. In my case, they did not check any details beyond that: Company that sold me the condo was in fact the registered owner/developer

-FL

[PeteM3]

If you had 2 x condos procured new with a total price in excess of 10M baht, would this be ok and qualify ?

[ubonjoe]

If you had 2 x condos procured new with a total price in excess of 10M baht, would this be ok and qualify ?

It is can only be one condo as far as I know. If you look at the rules and etc their is nothing pluralized.

[PeteM3]

If you had 2 x condos procured new with a total price in excess of 10M baht, would this be ok and qualify ?

It is can only be one condo as far as I know. If you look at the rules and etc their is nothing pluralized.

Thanks ubonjoe, that was also how I read it but was just seeking clarification. Looks like you can only invest in 1 @ say 5M bahy and then top up with either a fixed deposit account or government bonds.

[williamgeorgeallen]

Thanks for further info.

Are you aware of anything official about a resale condo qualifying for the investment visa extension?

Are the extensions renewed easily if you continue to own the condo?

• No I'm not, but I don't see any reason why it has to be a new property. As far as I'm aware it's the purchase price that counts.
• Yes, but you effectively apply for a new extension of stay every year and would be required to show evidence of your investment each year.

Are you over 50?

I am a few years less than 50, so cannot get retirement visa.

Some folks have said condo must be brand new, but others say it doesnt matter if new or resale. How could i get clarity on this?

How can you show proof/evidence of continued condo ownership when going to renew the extension each subsequent year?

from what i have heard this is a difficult visa to get but most of the information i have is second hand so it would be interesting to hear from people who actually have this visa. i am along way off 50 and so are many of my friends and while i can get a family visa from my kids many of my friends would be interested in the investment visa. i am anti keeping any money or assets in thailand and i am in the process of selling up in anticipation for moving my kids back to go to school in nz. really i still believe the elite visa is the best option if you are still at least a few years away from a retirement visa.

[Mysterion]

This from the Bangkok immigration website for doing a change of visa for investment. You need to be using IE or a browser with an extension to view them here: http://bangkok.immigration.go.th/en/base.php?page=service#

6.1 Condominium title deed, which is in the Applicants name, and, in the particulars of registration, the Applicant must be the first purchaser;

6.2 A copy of the sale and purchase agreement of the condominium unit made by the Applicant and the project owner/company and a copy of the registration showing that the Applicant is the owner of the condominium unit, which is issued by the relevant agency or government authority;

That is unfortunate that it excludes re-sales. I was considering buying a resale and this now buggers-up my visa solution.

What is to stop someone from doing this?-

-depositing 10m in a thai bank, apply for visa extension and get, then withdraw the 10m baht the following day after they get the one year visa extension?

- Exit country at one year expiration, and fhen repeat the doposit/extension/withdrawal again each year going forward.

[ubonjoe]

This from the Bangkok immigration website for doing a change of visa for investment. You need to be using IE or a browser with an extension to view them here: http://bangkok.immigration.go.th/en/base.php?page=service#

6.1 Condominium title deed, which is in the Applicants name, and, in the particulars of registration, the Applicant must be the first purchaser;

6.2 A copy of the sale and purchase agreement of the condominium unit made by the Applicant and the project owner/company and a copy of the registration showing that the Applicant is the owner of the condominium unit, which is issued by the relevant agency or government authority;

That is unfortunate that it excludes re-sales. I was considering buying a resale and this now buggers-up my visa solution.

What is to stop someone from doing this?-

-depositing 10m in a thai bank, apply for visa extension and get, then withdraw the 10m baht the following day after they get the one year visa extension?

- Exit country at one year expiration, and fhen repeat the doposit/extension/withdrawal again each year going forward.

You might want check the prices for a new build. Dependent upon where you are looking you might find some fits your requirements.

You also might want to consider the costs for transfer the funds in, out and in again. You will loose some money just on the exchange rate differences between buying and selling baht.

You would have to start from scratch by getting a new non-b visa and then apply for the extension. I suspect there would be a lot of questions about why you did it that way.

[MyFriend You]

This from the Bangkok immigration website for doing a change of visa for investment. You need to be using IE or a browser with an extension to view them here: http://bangkok.immigration.go.th/en/base.php?page=service#

6.1 Condominium title deed, which is in the Applicants name, and, in the particulars of registration, the Applicant must be the first purchaser;

6.2 A copy of the sale and purchase agreement of the condominium unit made by the Applicant and the project owner/company and a copy of the registration showing that the Applicant is the owner of the condominium unit, which is issued by the relevant agency or government authority;

That is unfortunate that it excludes re-sales. I was considering buying a resale and this now buggers-up my visa solution.

What is to stop someone from doing this?-

-depositing 10m in a thai bank, apply for visa extension and get, then withdraw the 10m baht the following day after they get the one year visa extension?

- Exit country at one year expiration, and fhen repeat the doposit/extension/withdrawal again each year going forward.

You might want check the prices for a new build. Dependent upon where you are looking you might find some fits your requirements.

You also might want to consider the costs for transfer the funds in, out and in again. You will loose some money just on the exchange rate differences between buying and selling baht.

You would have to start from scratch by getting a new non-b visa and then apply for the extension. I suspect there would be a lot of questions about why you did it that way.

It has been bantered around time & again "Its easy to transfer money into Thailand, its entirely another thing to transfer it out, and the loss thru Exchange rates is quite another thing...........+ cost to electronic transfer it out, and into your country, then back out again - Man, my head aches even thinking about it............

[SABloke]

Here's a (potentially stupid, but I've never done research along this route) question: How does immigration determine the value of your Condo? Is it based on proof of payment or proof of ownership (sales contract and house book) i.e. could my friend sell me a condo for "10" million baht, but I only pay 5?

[JackThompson]

Here's a (potentially stupid, but I've never done research along this route) question: How does immigration determine the value of your Condo? Is it based on proof of payment or proof of ownership (sales contract and house book) i.e. could my friend sell me a condo for "10" million baht, but I only pay 5?

On that front, what about when you go to renew the 2nd year. If the "estimated value" of the condo has changed, do you need to re-balance the total with bank-funds? Or is the condo "locked in" at purchase-price value, as if you had put that sum in the bank in baht, for as long as you continue to renew the Investor Visa?

[ubonjoe]

Here's a (potentially stupid, but I've never done research along this route) question: How does immigration determine the value of your Condo? Is it based on proof of payment or proof of ownership (sales contract and house book) i.e. could my friend sell me a condo for "10" million baht, but I only pay 5?

One of the requirements is proof that the 10 million baht has been brought in from outside the country. Also if you read the earlier posts you would know that if you bought the condo it would not qualify for the extension since he likely would not be the developer.

On that front, what about when you go to renew the 2nd year. If the "estimated value" of the condo has changed, do you need to re-balance the total with bank-funds? Or is the condo "locked in" at purchase-price value, as if you had put that sum in the bank in baht, for as long as you continue to renew the Investor Visa?

There is no estimated value used. It is the original purchase price of the condo that is used since that is the investment made to qualify.