Permanent residence window about to close

BANGKOK: The Immigration Bureau has issued a reminder that, barring the remote possibility of an extension, June 30 is the deadline for foreign investors to apply for “special investment” permanent residence status in Thailand. Normally, those applying for permanent residence must hold a non-immigrant visa and reside in Thailand on a one-year-visa extension basis for three years consecutively. The period for applications varies from year to year, beginning sometime in October or November, and ending on December 31. These permits are rare; the current annual quota is just 100 people of any one nationality. In contrast, a quota of 5,000 over a three-year period was set for “special investment” residence permits. Applicants for these permits need only prove that they have made a minimum investment of 10 million baht in a business that benefits Thailand, in bank deposits, or in the purchase of a condominium, shares, or government or state enterprise bonds. The investment must remain in Thailand for a minimum of three years. Despite the three-year period allowed for applications, there have been only about 600 approvals so far.