dugrasu Posted August 10, 2016 Share Posted August 10, 2016 Hi I have a question regarding Thai Investment Visa. From my understanding, you need to invest at least 10mil THB in condo purchase / government bonds / fixed deposit at government appointed Thai bank or any combination of these three options. Here's my situation - I purchased a resale condo November 2015 with sale price of 6.3mil. At the time I consulted a lawyer to see what I need to be able to apply for an investment visa. He told me if I purchase another condo and if the total value of these two condos combined (appraised value not sales price) is more than 10mil, then I would be qualified to apply. For this reason plus for long-term investment purpose, I decided to purchase another resale condo this month with sale price of 12mil (but appraised value of around 8mil). It was only after I signed the SPA for this 2nd condo that an agent from Immigration bureau I met at an expat seminar told me in order for me to qualify for an investment visa, the condos I purchase MUST be new, firsthand condos meaning my name has to be the first name that appears on the title. (on the first line) 1. Are older condos purchased through resale not counted toward the 10mil investment needed for this type of visa? (the original owner's name is on the first name, and my name appears on the 2nd line on the title deed) Is this true?? (Is there any way around this?) 2. If older condos do count then does it have to be ONE single condo with 10mil+ value or can I combine two or more condos with combined value of 10+mil? 3. For investment visa by condo purchase, is it based on sale price or appraised value which tends to be much lower. 4. Let's say if you already have investment visa, what happens if you sell one or two of these condos, can you still renew it every year? If you or someone you know have experience getting this visa or if you are knowledgeable about this subject, please help. Your help is greatly appreciated! And if anyone has experience with law firm that handles investment visa, please let me know too. (It seems like Siam Legal and TSL are the sponsors for this forum, anyone has good experience with working with them?) Thank you again for any help! TJ Kim Link to comment Share on other sites More sharing options...
ubonjoe Posted August 11, 2016 Share Posted August 11, 2016 1. It must be a new one. 2. Only one condo can be used. You can though combine the condo purchase with money in the bank bonds and etc. 3. Original purchase price. 4. You can sell the condo as long as can maintain a total of 10 million baht in investments. Siam Legal is not a forum sponsor. 1 Link to comment Share on other sites More sharing options...
Sunny Ban Posted December 15, 2016 Share Posted December 15, 2016 Hi there, anyone can help me to apply for Investment VISA? I have purchased 10million baht properties in Bangkok. Thanks Link to comment Share on other sites More sharing options...
ubonjoe Posted December 15, 2016 Share Posted December 15, 2016 8 minutes ago, Sunny Ban said: Hi there, anyone can help me to apply for Investment VISA? I have purchased 10million baht properties in Bangkok. Thanks There is no investment visa you can apply for. You get a one year extension of stay based upon investment if you qualify for it. You would first have to apply for a 90 day non immigrant visa (category B ) based upon qualifying for an investment extension. Then during the last 45 days of the 90 day entry you would apply for the one year extension. Required documents from the Bangkok immigration website. ( http://bangkok.immigration.go.th/en/base.php?page=service# ) for both applications is here. Investment Documents.pdf Link to comment Share on other sites More sharing options...
Sunny Ban Posted December 15, 2016 Share Posted December 15, 2016 Thanks ubonjoe. I will read it up. Link to comment Share on other sites More sharing options...
Sunny Ban Posted December 15, 2016 Share Posted December 15, 2016 Hi there, I am unable to find the form listed below under 1. B. Investment of no less than Baht 10 million: 1. Application form 2. Copy of applicant’s passport 3. Copy of evidence showing a transfer of funds from a foreign country to a bank in Thailand 4. Copy of a condominium purchase agreement and a copy of the ownership registration of said condominium issued by the government or relevant agency (in the case of purchase of a condominium) or a copy of a long-term lease agreement; or 5. Funds deposit certificate issued by a bank and a copy of evidence of the funds deposit (only in the case of investment in funds deposit); or 6. Copies of bond certificates (only in the case of investment in a purchase of government or state enterprise bonds) Link to comment Share on other sites More sharing options...
ubonjoe Posted December 15, 2016 Share Posted December 15, 2016 13 minutes ago, Sunny Ban said: 1. Application form Download and print two sided: http://www.immigration.go.th/nov2004/download/pdf/tm7.pdf You will not be able to apply for the exension until after you get the visa entry. Link to comment Share on other sites More sharing options...
Sunny Ban Posted December 15, 2016 Share Posted December 15, 2016 3 hours ago, ubonjoe said: Download and print two sided: http://www.immigration.go.th/nov2004/download/pdf/tm7.pdf You will not be able to apply for the exension until after you get the visa entry. Joe, what do you mean I need to get the VISA entry? I'm from Singapore so there is no need for me to get this visa entry right? Link to comment Share on other sites More sharing options...
ubonjoe Posted December 15, 2016 Share Posted December 15, 2016 31 minutes ago, Sunny Ban said: Joe, what do you mean I need to get the VISA entry? I'm from Singapore so there is no need for me to get this visa entry right? The firs list of documents in the PDF is for the visa application at immigration. Quote DOCUMENTS TO BE SUBMITTED IN SUPPORT OF THE APPLICATION FOR VISA OR VISA STATUS ALTERATION (NON-B): FOR 90 DAYS. FOR INVEST NO LESS THAN 10 MILLION BAHT. You will use a TM86 or TM87 form dependent upon whether you have a visa exempt or a tourist visa entry. You can download the forms here: http://www.immigration.go.th/nov2004/en/base.php?page=download Link to comment Share on other sites More sharing options...
Sunny Ban Posted December 15, 2016 Share Posted December 15, 2016 6 hours ago, ubonjoe said: The firs list of documents in the PDF is for the visa application at immigration. You will use a TM86 or TM87 form dependent upon whether you have a visa exempt or a tourist visa entry. You can download the forms here: http://www.immigration.go.th/nov2004/en/base.php?page=download Thanks alot. I am exempted. Will complete the application form when I am there. You are a great help ubonjoe! Link to comment Share on other sites More sharing options...
Sunny Ban Posted April 27, 2017 Share Posted April 27, 2017 Hi there, after thinking about having this Investment VISA, is it possible to work in a coffee shop without any salary? I know it is hard to get a work permit. I am helping Thai friend cause he has a coffee shop in Bangkok. It will be very boring for me not to do anything. Perhaps he can provide me with just food. Link to comment Share on other sites More sharing options...
eisfeld Posted April 27, 2017 Share Posted April 27, 2017 You are not allowed to work without a work permit. Compensation (be it salary or food or free massage) or not does not make a difference. Link to comment Share on other sites More sharing options...
BritTim Posted April 27, 2017 Share Posted April 27, 2017 11 hours ago, Sunny Ban said: Hi there, after thinking about having this Investment VISA, is it possible to work in a coffee shop without any salary? I know it is hard to get a work permit. I am helping Thai friend cause he has a coffee shop in Bangkok. It will be very boring for me not to do anything. Perhaps he can provide me with just food. You definitely are not allowed to do that, as explained by @eisfeld. Further, while some kinds of work can fly under the radar, if you try this, you are very likely to be caught with possibly serious consequences. To avoid boredom, there are plenty of charity projects you could get involved in. Sometimes, these are technically against the rules also without a work permit or NGO visa, but they have the advantage of being tolerated. They are valuable activities that carry zero or negligible risk. 1 Link to comment Share on other sites More sharing options...
gk10002000 Posted April 27, 2017 Share Posted April 27, 2017 Interesting. Condo must be a new one? hard to see why an expensive not original one would be excluded. What is their logic? Getting farang to come in and pay to reward a developer versus a resaler? Link to comment Share on other sites More sharing options...
Sunny Ban Posted April 28, 2017 Share Posted April 28, 2017 4 hours ago, BritTim said: You definitely are not allowed to do that, as explained by @eisfeld. Further, while some kinds of work can fly under the radar, if you try this, you are very likely to be caught with possibly serious consequences. To avoid boredom, there are plenty of charity projects you could get involved in. Sometimes, these are technically against the rules also without a work permit or NGO visa, but they have the advantage of being tolerated. They are valuable activities that carry zero or negligible risk. Yes. Very good idea. I can do some volunteering work :) Link to comment Share on other sites More sharing options...
Sunny Ban Posted April 28, 2017 Share Posted April 28, 2017 4 hours ago, gk10002000 said: Interesting. Condo must be a new one? hard to see why an expensive not original one would be excluded. What is their logic? Getting farang to come in and pay to reward a developer versus a resaler? Yes must be new one. I think you can try looking for a job or maybe setup a business while you are staying there. Plenty of time to ponder :) Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now