Visa Options For Foreign Property Buyers
After the purchase of a property here in Thailand, foreigners still have a major issue to deal with: their visa. In fact, foreigners’ usual stay is limited to 30, 60 or even 90 days. It basically corresponds to a regular Tourist Visa after which they have to leave the Kingdom.
Fortunately, property buyers who purchase a condominium/house here have a few options to stay longer and thus enjoy their properties:
Investment of THB10 million
According to Royal Thai Police Bureau Order No.327/2557, dated June 30, 2014 and effective August 29, foreigners owning a property in the country are eligible to apply for a one-year visa, renewable each year. However, this is only applicable if the total investment has reached a minimum of THB10 million.
In order to obtain this one-year visa, applicants must:
- Already possess a Non-Immigrant visa of any kind, provided by an embassy or consulate
- Prove transfer of investment worth at least THB10 million from abroad to Thailand by showing proofs from a Thai bank
- Prove this money has been used to purchase properties worth at least THB10 million here by providing Sales & Purchase Agreements, Title Deeds, or any related official documents
Apart from investing such amount, there are several other means to stay in Thailand with a one-year visa, such as:
- Rent a condominium for a period of at least three years, providing a copy of the signed Lease Agreement bounding Lessor and Lessee
- Proof of deposited money in a fixed-deposit Thai bank
- Purchase of government or state enterprise bonds and show a copy of the bond certificates
All of the above mentioned conditions only apply if the total amount invested reach THB10 million.
Investment of THB3 million
Foreign property buyers who entered the Kingdom before October 1st 2006 with the previously mentioned one-year visa only needed an investment of at least THB3 million back then. Nowadays, they are still able to renew their visa if their investment remains superior or equal to THB3 million.
As a property investor, if you would like more info on how to get such visa and therefore be able to stay in Thailand for a much longer period than what a simple Tourist visa would provide you with, please do not hesitate to contact us and we will be glad to direct you towards competent immigration lawyers.