A First in Thailand: 20-Year Visa Granted to Property Buyers
For the first time in Thailand, Pattaya property developer Kingdom Property has made a partnership with Thailand Elite to offer buyers of its condominiums 20-year visas.
Actually, foreign purchasers of units at Southpoint Pattaya condominium will be provided with a 20-year visa, which corresponds to a 5-year multiple entry visa that is renewable every 4 years.
This benefit package will also include fast-track immigration clearance, assistance with driving licenses, discounts and a bilingual helpline.
Nigel Cornick, Chief Executive Officer of Kingdom Property (pictured), said: “The long-stay solution will overcome many of the barriers that we see when selling our properties overseas. Generally unless you have a business visa, retirement visa or marriage visa, you are not permitted to stay for any length of time.”
Thailand Elite is entirely owned by the The Tourism Authority of Thailand that is also under the control of the Thai Government.
Pattaya project Southpoint is the only condominium offering such benefits to foreign buyers as of now. However, a lot of Thai property developers should follow similar path in the future. Although Thailand remains an attractive country to invest in, developers are constantly seeking new ways to attract overseas investors.