Step-by-Step Guide to Getting a Thailand Investment Visa
Learn about the various guidelines you should be aware of when applying for a Thailand investment visa.
Who is eligible for a Thailand investment visa?
The Thai Investment Visa is meant to help the Thai economy and will only be available to a small number of people. The Thailand investment Visa is for rich middle-aged people who desire to enjoy the relaxed and picturesque Thai lifestyle without the hassle of short-term visa runs.
Anyone who wants to travel to Thailand and can spend at least 10 million baht qualifies for an Investment Visa. It is common among those under the age of 50 who do not wish to work in Thailand and those over the age of 50 are more likely to apply for a Retirement Visa.
Key Points
- If you plan to stay in Thailand for an extended period of time, Thailand investment visa may be one of your options.
- You’ll still need a work permit, to work in Thailand.
- Family members of an investor are also eligible for long-term residency in Thailand if they can provide proof of their relation to the investor.
What is an Investment visa?
Foreigners who invest THB 10 million or more have been eligible for a one-year renewable non-immigrant IM visa to stay in Thailand since August 29, 2014. Foreigners will get a one-year Investment Visa by investing at least 10 million baht in one of the following: Purchasing condominium units in new developments for at least 10 million Baht, Purchasing Thai government or state enterprise bonds worth and depositing the funds in a Thai bank’s Fixed Deposit Account.
International investors who wish to apply for an Investment Visa can invest in a variety of assets. One of the most major benefits of applying for and receiving a visa in this category is those who holder a Thai Investment Visas are granted a one-year visa that can be renewed annually, and the investors’ family members, such as their spouse and children, are also eligible to apply.
What is the procedure for obtaining?
1. Get a non-immigrant visa – You can apply for a Non-Immigrant Form “B” Visa from your local Thai embassy if you don’t have a Non-immigrant visa. This is the same type of visa that people who want to come to Thailand to work have and you should inform the Thai embassy that you are planning to invest.
Due to the rarity of this form of visa, your local Thai embassy can experience difficulty issuing it. To meet the visa requirements, you must visit Thailand at least once and have previously invested. A valid passport, bank statement, and proof of Thai investment are typically required to apply for this visa.
2. Extend your visa – You can apply for a stay extension based on investment at your nearest Thai immigration office if you have a Non-Immigrant Visa. This is a unique type of visa extension, and your local immigration officer may not be aware of your needs. Be specific, and the documentation you’ll need will be similar to or identical to what you requested when you applied for the visa.
Investors must report their addresses every 90 days and must have a work permit to beable to work in Thailand.
What are the requirements needed?
To obtain a Non-Immigrant Visa, you must invest a minimum of 10 million baht in one or a combination of the following:
1. International Transfer – Transfer at least 10 million baht to a Thai bank account. Opening a Thai bank account can be challenging without a work permit or Non-Immigrant Visa. Choose a bank where at least 51% of shares are Thai-owned to qualify for a fixed deposit account.
2. Buying a Condo – Invest at least 10 million baht in a Thai condominium. Verify its value with the Department of Lands and keep the transfer tax receipt. If the condo’s value drops below 10 million baht post-purchase, you won’t qualify for the Investment Visa unless you provide the transfer tax receipt showing its original value. Buy a government-approved new condo from a developer and retain it for at least 3 years.
3. Fixed Deposit Account – Invest 10 million baht in a fixed deposit account at a majority Thai-owned bank. The visa process should be straightforward, but you cannot withdraw the funds while the visa is effective.
4. Government Bonds – Purchase government or state enterprise bonds from any Thai bank. Note that these bonds sell quickly and have purchasing limits, making it challenging to invest 10 million baht solely in bonds.
5. Combination of Investments – Combine investments to total over 10 million baht. For example, you might invest in a 5 million baht condo, a 4 million baht fixed deposit account, and 1 million baht in government bonds.
Thai Investment Visa holders are given a one-year visa which can be extended annually.
Is it possible to obtain residency in Thailand by making investments?
You must invest at least 10 million baht in a limited company, a public company, the stock market or a state-issued security and state enterprise security to obtain permanent residence status in Thailand. This means that if you want to get citizenship with an Investment Visa, you’ll need to spend another 10 million baht in Thailand.
What are the other forms of investment visa?
An elite visa is often interpreted as another form of investment visa.
Some argue a 20-year Elite Visa is better, with the sovereignty extension costing 50,000 baht yearly. They could profit from a 10 million baht investment to cover the Elite Visa cost. Obtaining it is easier, requiring minimal documentation and assistance from a representative. However, the Elite Visa doesn’t allow for an employment visa, restricting legal work in Thailand, though you can still manage a foreign company. Costs also increase when bringing family members.