What are the benefits of Thailand Permanent Residence?
Have you been daydreaming about living amidst the lush landscapes and vibrant cityscapes of Thailand on a permanent basis? If your thoughts are leaning towards making the Land of Smiles your home, acquiring a Thailand Permanent Residence (PR) might be something to seriously consider. With permanent residence, you receive the benefit of living in Thailand indefinitely, free to travel in and out of the country, minus the recurring inconvenience of visa applications. But what else does permanent resident status offer? Keep reading to find out!
1. Extended stay without the visa hassle
Gaining permanent residence status in Thailand brings an end to tedious visa processes, providing one of the substantial benefits – the freedom to stay long-term without any hassle. The days spent in long queues at immigration offices become a thing of the past. Equipped with your PR status, you bypass the intricate Thai visa system altogether, eliminating the need to apply for Thai Visa Extensions. You can say goodbye to constant reminders for 90-day notifications or TM30 reporting, infamously known to concern foreign residents in Thailand.
2. Purchase a condo without a foreign exchange transfer
Another noteworthy advantage presented by gaining permanent residency in Thailand comes in the form of property ownership. As a PR holder in Thailand, you can purchase a condominium without necessitating the transfer of funds from an overseas account. This feature makes the whole process easier, from dealing with local banks to smoothing out the paperwork with government services. Simply put, buying a condo in Thailand becomes just that much easier when you’re a PR holder.
3. Getting a work permit is much easier
While you still require a work permit to take up employment in Thailand, obtaining one as a PR holder becomes a simpler task. The process is easier and faster than if you were trying to get a work permit under a business visa. And obviously, the PR status elevates you from the need for a business visa entirely. In addition, it opens up wider job opportunities – you could even aspire to become a director in a Thai public company.
4. Be listed under a normal house registration
Permanent residents in Thailand can also benefit from the ease of being listed under a standard house registration, also known as Tabian Ban or the blue book. The perk of this house registration simplifies several procedures – there’s no need to acquire a residence certificate when getting a work permit, opening a bank account, or even when applying for a driver’s license.
Additionally, if you’re thinking about buying a property in Thailand and need a mortgage, being a permanent resident can make it easier. Thai banks are more likely to lend to someone who is a permanent resident, often offering to lend you around 40-80% of the property’s price. Typically, the loan terms last around 10 years.
5. Advantages for the whole family
Permanent residence status in Thailand isn’t just beneficial for you; it can also bring advantages for your entire family. Your spouse and children can obtain dependent visas based on your permanent resident status. Furthermore, if both you and your partner hold PR status, your children can even be eligible for Thai citizenship. So, becoming a permanent resident in Thailand can open doors not only for you but also for your loved ones, making family life in a new country that much easier.
6. A step closer to Thai citizenship
Securing permanent residency in Thailand is like being one step away from Thai citizenship. After holding PR status for five years, foreigners are eligible to apply for Thai Citizenship by naturalisation. The benefits attached to Thai citizenship are extensive, particularly for those considering Thailand as their lifelong home. These advantages include being able to work in Thailand without a work permit and the right to hold over 49% of shares in a Thai company, among others.
Acquiring PR status in Thailand offers a range of benefits, each aiding in creating a hassle-free, comfortable lifestyle in this dynamic Southeast Asian country. However, bear in mind that the acquisition process involves time, commitment and specific immigration rules compliance.
If you want to apply but don’t know where to start, check out our guide to obtaining Permanent Residence in Thailand.
