Thailand Investment Visa Basics
An investment visa is just like a normal visa, except that approval is restricted to those who intend to live inside a given area, based on the investment that the individual will be controlling. This concept is not new in Thailand. During the crisis of 1997, an investment visa was introduced to help Thai developers to sell their condominium units to foreign investors. This investment visa had a ceiling of 3,000,000 THB and was withdrawn by October of 2006 when the economy of Thailand started picking up. But the recent world economic crisis and Thai political crisis have prompted the government to reintroduce the investment visa again.
This visa allows wealthy foreigners, who are below 50 years of age, to live on a long term basis in Thailand, without having to work. But the investment ceiling has been increased quite a bit, from 3,000,000 to 10,000,000 THB. Fortunately, the pricing of condominiums is quite affordable, with prices ranging from 80,000 up to 350,000 THB per square meter, which give investors great value for their money.
For a foreign investor to quality for an investment visa, they must:
- Have a non-immigrant visa
- Produce proof that funds are being moved into the country with a total of at least THB10 million
* Produce evidence of the purchase or rent of a condominium unit, priced at THB10 million, for a period of not less than 3 years provided by an agency or government. * Produce evidence of investment in the form of a fixed deposit of not less than THB10 million, with a bank registered in Thailand, which has Thai nationals owning more than 50% of the shares. * Produce evidence of investment in state enterprise or government bonds, not less than Baht 10 million. There is a caveat though, only those who have invested after the 25th of November 2008 are qualified.
The Documents Needed
Foreigners will need to submit the following documents, in the application process:
- A passport or other travel documents, with validity of not less than 6 months
- A completed visa application form
- A recent passport sized photograph (taken within the last 6 months)
Those foreigners, who are able to fulfill the above conditions, will be able to extend their period of stay, each year, as long they maintain their investment in Thailand.