The Coder Posted May 11, 2004 Share Posted May 11, 2004 I've resided in Thailand for years using tourist visa's and it has gone smoothly. There have been rumours recently about this might be closed off in some cases and I would like a backup plan so as not to get trapped outside. My situation is this; I don't work at this time, am under 50 and single. My stay is completely legal to the best of my knowledge and I spend around 80K baht a month all drawn from foreign banks and do have (or even want) a thai bank account. The next best choice for visa (correct me if I am wrong) seems to be the non-immagrant (IB?) investment visa. What I gather is if you transfer 3 million baht into a thai bank account from abroad you can get a one year renewable visa. I'm looking for any insights or experience with this as well as resources I can learn more about it. If there is a different type of visa that would work, that would be good to know. Thanks for any advice. Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted May 11, 2004 Share Posted May 11, 2004 That'll work for you and legitimize you ( you will even be eligible for a drivers license ) Your only other option is to marry a Thai. Link to comment Share on other sites More sharing options...
unbiasbob Posted May 11, 2004 Share Posted May 11, 2004 I've resided in Thailand for years using tourist visa's and it has gone smoothly. There have been rumours recently about this might be closed off in some cases and I would like a backup plan so as not to get trapped outside. My situation is this; I don't work at this time, am under 50 and single. My stay is completely legal to the best of my knowledge and I spend around 80K baht a month all drawn from foreign banks and do have (or even want) a thai bank account.The next best choice for visa (correct me if I am wrong) seems to be the non-immagrant (IB?) investment visa. What I gather is if you transfer 3 million baht into a thai bank account from abroad you can get a one year renewable visa. I'm looking for any insights or experience with this as well as resources I can learn more about it. If there is a different type of visa that would work, that would be good to know. Thanks for any advice. Coder, I am in exact situation as you. We have no options other than tourist visas and this 3 mil baht into thai gvt bank visa. Marriage is not option. I leave that for most of the other people in this forum. Nothing like pressure to marry a thai just to get a visa. that is BS. If I wanted to get married, I wouldn't come to thailand to do it. If you want to get that investment visa and are on a 60 day visa, deposit your cash and go to 2nd floor bkk imm building to the change visa office with proof of acct. that dude will issue your visa on the spot. this is what he told me. I, like you, have no desire to open an acct here and use ATM as you do, spending about the same amount of cash. If you open your acct, be sure it is a thai gvt bank like krung thai. I have a feeling you will do as I do and continue living on tourist visas unless fecal matter hits the fan. Just get your triple entry tourist and you get 9 months to kick back then do it again. I feel pretty goddamn legit! Link to comment Share on other sites More sharing options...
Axel Posted May 11, 2004 Share Posted May 11, 2004 That'll work for you and legitimize you ( you will even be eligible for a drivers license ) Your only other option is to marry a Thai. Buy an Elite card. At least your visa is ok although the US$ 25,000 are not refundable. Link to comment Share on other sites More sharing options...
unbiasbob Posted May 11, 2004 Share Posted May 11, 2004 Coder, one thing I did provide the agent to get my triple tourist was documentation of income from US. Not sure if it was needed or not. Elite card is a joke. i'd rather flush 25 grand down the toilet Link to comment Share on other sites More sharing options...
medicinebox Posted May 11, 2004 Share Posted May 11, 2004 Does the 3million have to sit in the account? Or can you move it elsewhere. 3mil is a lot to have sat in a low interest account. Link to comment Share on other sites More sharing options...
unbiasbob Posted May 11, 2004 Share Posted May 11, 2004 Does the 3million have to sit in the account? Or can you move it elsewhere. 3mil is a lot to have sat in a low interest account. you can have it in Thai Gvt bonds. Don't think you can do much else with it. I've scoured the net for specific info on this 3 mil baht investment visa but have found nothing. I would call bkk imm for any more specifics. report back here if you learn anything more. No one in this forum knows anything about it because it is new and not on the net and they are not in the situation being married, working or retired and/ or all of above Link to comment Share on other sites More sharing options...
The Coder Posted May 11, 2004 Author Share Posted May 11, 2004 Thanks all for the info and keep any additional tidbits coming please. From what I have read about the Elite card, it would be like buying a giant coupon book of which I have use for hardly any. The visa part of it also seemed geared only to stay in Thailand 6 months out of the year. Besides, they doubled the price 2 million baht for expats and to confuse matters more there is now a 10 million baht super elite card... None of what I've seen looks interesting with the elite card. It's good to know the 3-mil investment visa is an option I can use. However, I would prefer to stay on tourist visa's as long as it is allowed. Any suggestions where and how to obtain a triple entry tourist visa? I normally apply in Vientiane and they have flatly said they don't issue multi-entry all but one time I went there. Thanks again. Link to comment Share on other sites More sharing options...
Thaiquila Posted May 11, 2004 Share Posted May 11, 2004 Does the 3million have to sit in the account? Or can you move it elsewhere. 3mil is a lot to have sat in a low interest account. you can have it in Thai Gvt bonds. Don't think you can do much else with it. I've scoured the net for specific info on this 3 mil baht investment visa but have found nothing. I would call bkk imm for any more specifics. report back here if you learn anything more. No one in this forum knows anything about it because it is new and not on the net and they are not in the situation being married, working or retired and/ or all of above I was under the impression that you could buy a condo with part of the funds. Any comment, Dr. Pong? Also, what kind of interest rate do Thai government bonds pay, and how safe have they been historically? Link to comment Share on other sites More sharing options...
natee1 Posted May 11, 2004 Share Posted May 11, 2004 Thai consulates outside asia are more likely to give a triple Tourist v. The mood in thailand neighbouring countries has changed recently, you'll have a hard time getting a double entry, or even just a single tourist v. What about Penang/Kota Baru? Link to comment Share on other sites More sharing options...
Rooo Posted May 11, 2004 Share Posted May 11, 2004 I read somewhere,that as long as the money is invested in Thailand.I'll have to find it & post the site for you. Link to comment Share on other sites More sharing options...
dr_Pat_Pong Posted May 11, 2004 Share Posted May 11, 2004 Does the 3million have to sit in the account? Or can you move it elsewhere. 3mil is a lot to have sat in a low interest account. you can have it in Thai Gvt bonds. Don't think you can do much else with it. I've scoured the net for specific info on this 3 mil baht investment visa but have found nothing. I would call bkk imm for any more specifics. report back here if you learn anything more. No one in this forum knows anything about it because it is new and not on the net and they are not in the situation being married, working or retired and/ or all of above I was under the impression that you could buy a condo with part of the funds. Any comment, Dr. Pong? Also, what kind of interest rate do Thai government bonds pay, and how safe have they been historically? You can buy a condo and that counts. Link to comment Share on other sites More sharing options...
Pepe' Posted May 11, 2004 Share Posted May 11, 2004 What's up Doc? I thought I understood all this but this sounds like new info to me. 1- If I'm married to a Thai I don't have to have, is it 3 million bhat, deposited in a local bank. and 2- If you do have to deposit the funds purchasing a condo counts towards your "security deposit" with the government. If this is the case that's really good news? Link to comment Share on other sites More sharing options...
Rooo Posted May 12, 2004 Share Posted May 12, 2004 Been to the Thai Consulate in Sydney,I was told to bring proof of all my investments in Thailand,as it will count towards their assesment & the monies required to be deposited in bank if any.I will keep you posted of the outcome & give you an idea of what can be used. Link to comment Share on other sites More sharing options...
Thailand Posted May 12, 2004 Share Posted May 12, 2004 Does the 3million have to sit in the account? Or can you move it elsewhere. 3mil is a lot to have sat in a low interest account. you can have it in Thai Gvt bonds. Don't think you can do much else with it. I've scoured the net for specific info on this 3 mil baht investment visa but have found nothing. I would call bkk imm for any more specifics. report back here if you learn anything more. No one in this forum knows anything about it because it is new and not on the net and they are not in the situation being married, working or retired and/ or all of above I was under the impression that you could buy a condo with part of the funds. Any comment, Dr. Pong? Also, what kind of interest rate do Thai government bonds pay, and how safe have they been historically? You can buy a condo and that counts. What about land /house "bought " under a 30+30+30 lease ,does that count? Link to comment Share on other sites More sharing options...
Sunny Valentine Posted May 12, 2004 Share Posted May 12, 2004 As i will buy a Condo for around 3 Mill Bt, I also consider this Visa as my best way to get sorted out. Does anyone know more Details on this Visa type, maybe Official sources, names and the likes, as the Thai Embassy in Austria, where I enquired, did not know anything about it at all? Or is it possible to get this up and running in Thailand at Immigration. If yes, can you start with a Tourist Visa? Sunny Link to comment Share on other sites More sharing options...
simey Posted May 12, 2004 Share Posted May 12, 2004 Rooo, let us know the details soon as you spoke to the consulate. I've got a house in Samui that cost 12 mill and it would be great to be able to use that as proof of investment for a 1 year visa. I would think owning a house (as opposed to the land which I 'rent') should be considered the same type of investment as buying a condo? Link to comment Share on other sites More sharing options...
holm188 Posted May 12, 2004 Share Posted May 12, 2004 Here a few links to the 3 million baht visa (just google it, there is many more) http://www.thai-consulate.org.hk/investment%20scheme.htm http://www.thaichicago.net/clate/visa2.html Link to comment Share on other sites More sharing options...
Pepe' Posted May 12, 2004 Share Posted May 12, 2004 Rooo, let us know the details soon as you spoke to the consulate. I've got a house in Samui that cost 12 mill and it would be great to be able to use that as proof of investment for a 1 year visa. I would think owning a house (as opposed to the land which I 'rent') should be considered the same type of investment as buying a condo? Simey, I thought farangs can not own property other than condos. You say you own a house. I thought we can not own land/dirt? Link to comment Share on other sites More sharing options...
Thaiquila Posted May 12, 2004 Share Posted May 12, 2004 The plot thickens. I have been looking around at some links (and who knows how dated some of the information is), but I have found these kinds of issues and contradictions: -- no mention of using a house as part of the requirement; this kind of makes sense because the lease schemes to buy houses/lease land are of course possible, but not exactly promoted by the Thai government --contradictions about what KIND of condo you can buy and whether you need government approval before buying the condo; by KIND I mean a NEW condo directly from the building project developer (definitely approved) or a RESALE condo from a previously owned condo (possibly not allowed) --it seems clear that you do need to get approval for any changes in the investment after initial establishment; for example, if you wanted to sell one approved condo and buy another condo If people have direct experience that sheds light on these issues ... Link to comment Share on other sites More sharing options...
simey Posted May 12, 2004 Share Posted May 12, 2004 Bizarrely enough I own the house (as in the materials, the building itself) but I lease the land on a 30 year recurring lease. I suppose that means I could technically no extend the lease on the land and then move the house somewhere else, although it and the land are pretty well connected and the separation would probably not go well! A couple of my freinds have a Thai company and 'own' the land using that, I leave the land in the name of the Thai company that owns the project where my house is and have a 'blue book' that shows I own the house and use it. Seems from the web sites that not just any house/condo will do, it has to be bought from the owner at a price agreed by some goverment agency and be on their list of approved condos. Shame. Link to comment Share on other sites More sharing options...
Pepe' Posted May 12, 2004 Share Posted May 12, 2004 Back to my original question. If your married to a Thai are you exempt from the "security deposit?" Link to comment Share on other sites More sharing options...
mbkudu Posted May 13, 2004 Share Posted May 13, 2004 That'll work for you and legitimize you ( you will even be eligible for a drivers license ) Your only other option is to marry a Thai. So Dr. Pong, if one were married to a Thai national and had 3 million or more invested in Thailand would this special investor visa be a sure thing? I checked out the weblinks a poster provided here and they look legitimate, but I'm just not sure of anything anymore. I tried to find an answer at the www.thaiimmigration.com but it is sort of frozen; not taking any posts or replies. I guess what I'd really like to know is: Does this 'special investor visa' really officially exist? Any input would be appreciated, Mbkudu. Link to comment Share on other sites More sharing options...
Rooo Posted May 13, 2004 Share Posted May 13, 2004 Well if you are a managing director of a company,which in turn owns the land.You are worth 49% of whatever the land is worth.Add to that the cost of the house & I think you can justify your investment. Link to comment Share on other sites More sharing options...
Yohan Posted May 13, 2004 Share Posted May 13, 2004 Rooo, let us know the details soon as you spoke to the consulate. I've got a house in Samui that cost 12 mill and it would be great to be able to use that as proof of investment for a 1 year visa. I would think owning a house (as opposed to the land which I 'rent') should be considered the same type of investment as buying a condo? Simey, I thought farangs can not own property other than condos. You say you own a house. I thought we can not own land/dirt? Hi, Pepe, What I write here is maybe true or not true, but this is it about, what lawyers in Thailand, and a construction company told me... 1- You cannot own land. - But you can own legally 100 percent as foreigner a house on a land in Thailand. 2- The owner of the land can create a company with shares, and the company can sell you 30 percent of the shares...(30 percent and not 49 percent, must be 2 Thai:1 foreigner) 3- For the rest you make a contract, that the Thai-shareholders own you money, and they give you the shares for security of your claim, and you pay the landowner the other 70 percent of the price. 4- You are claiming and you register habituation rights for 30 x 3 years, and you might do with this land whatever you like. This means, constructing your own house... 5- You cannot own the land...but you can legally own a house (or any other building) on this land...you can own that building for 100 percent, and it will be registered, you will receive a *yellow book*, and not a *blue book* (as there is no land included in this registration) 6- If this is done correctly, there is no legal way to force you of this land/house or restrict you in any form during lifetime... Johann If anybody has any other information and this is wrong, what I wrote here, please let us know.... Link to comment Share on other sites More sharing options...
Rooo Posted May 13, 2004 Share Posted May 13, 2004 Yohan, I formed the company,before buying the land.I own 49% & have several Thai partners,that my accountant organised.They hold non voting,non transferable shares.That makes you the managing director & the only one to make decisions. The company I formed is a ! million Baht co. Link to comment Share on other sites More sharing options...
Yohan Posted May 13, 2004 Share Posted May 13, 2004 Yohan,I formed the company,before buying the land.I own 49% & have several Thai partners,that my accountant organised.They hold non voting,non transferable shares.That makes you the managing director & the only one to make decisions. The company I formed is a ! million Baht co. Rooo, Thank you, yes, to make a company in that way is also an option, I think there are various patterns how to do it. I own also a small company like yours. Seems to be the usual way..... I heard however about the other variant, as I wrote in my last posting. It works in the form to SEPARATE the land and the house. The land is Thai land, but the house on it is foreigners house 100 percent...and legally registered as such property owned 100 percent as a foreigner... the house cannot be removed, as the foreigner has the habituation right registered for 30x3 on the land .... Some condominium constructors are studying that variant, as it is possible then legally to sell 100 percent of the house to the foreigner....the land stays with the construction company 2 : foreigners 1 Just for information..... but sounds interesting... Johann Link to comment Share on other sites More sharing options...
Pepe' Posted May 13, 2004 Share Posted May 13, 2004 Yohan, Good info but my question is more focused at what is the advantage for visa and "security deposit" purposes if you are married to a Thai. Do you still have to deposit the 800,000? How often do you have to renew visa? I will be going to the consulate in Las Angeles soon so hopefully I can share more information. What I gather right now is that being married to a Thai woman doesn't count for much? Link to comment Share on other sites More sharing options...
mbkudu Posted May 14, 2004 Share Posted May 14, 2004 Have done some checking and this 3 million baht visa is legitimate. I have one question though. Say a foreigner bought a condo valued in land department records at 2,800,000 Baht, this of course 200,000 short for the visa. Could he wire 200,000 to his fixed account in Thailand to have a combined amount of 3 million baht to get the visa? Link to comment Share on other sites More sharing options...
Yohan Posted May 14, 2004 Share Posted May 14, 2004 Yohan,Good info but my question is more focused at what is the advantage for visa and "security deposit" purposes if you are married to a Thai................... Pepe, sorry, I am not married to a Thai, cannot comment, but for sure, other users here have a Thai partner and know a lot about it.... Minimum requirements are different for sure... However I am a type of a person, who likes always to have his own independent visa, independent of marriage.... My wife is Japanese, but my Japanese permanent residence permit has nothing to do with that....I am in Japan permitted for life-time, with or without Japanese partner. Just by my feelings, it is always the best to have a visa-permit, totally independent of your wife - in case of divorce, in case of death (like accident, illness.....) I would see it in this way....but up to you... To be married to a Thai, does not mean you MUST use a visa permit, which makes you dependent on your wife. Yohan Link to comment Share on other sites More sharing options...
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