Investment Visa Service in Bangkok, ThailandThai law allows foreign natural person or juristic persons, who can meet the government stipulated conditions, to buy and own condominium in Thailand. Stipulations, nevertheless, are prescribed by directives of Condominium act:
- Foreign ownership in a condominium project must not exceed 49% of the total floor area of all units combines and every foreign individual who is buying condominium unit must qualify as per criteria mention in section 19 of condominium act.
- Foreigners who do not have permanent residency or reside in Thailand under investment promotion must as well bring foreign currency into Thailand or withdraw money from a non – resident bank account or foreign currency bank account to buy or own condominium unit in Thailand.
Once the successful ownership of the unit is acquired by an individual another relevant issue in front is permission of stay in Thailand for under long-term visa. Foreigner stay in Thailand generally limited to 30,60 or 90 days tourist visa upon expiry of which they must leave the country.
By the order of immigration bureau dated 30th June 2014 and effective date 29 august 2014 foreigner who owns condominium units in Thailand are eligible to extend their stay for one-year time period subject to annual renewal each year.
The Non-Immigrant IM visa (Investment) can be applied for the foreigner who has made of investment of at least 10 million Baht and in order to be eligible a foreigner
- Must have been granted a Non-Immigrant visa (IM) granted to by Thai embassy or consulate
- Must Show proof of remittance of no less than 10 million THB in the country. (Credit advice)
- Must have evidence of investing in the purchase of a condominium unit for period of no less than 3 years by showing a copy of title deed, sale purchase agreement and proof registration with land department.
There are other provisions or stipulation by law that a foreigner can apply for a one-year Non-Immigrant investment (IM) visa are
- Rent a condominium unit for a period of no less than 3 years with an investment of 10 million THB. The copay of lease agreement along registered with land department can be submitted as a proof of such investment.
- Investment in the form of a fixed deposit of no less than 10 million THB with a bank registered in Thailand and has Thai nationals holding more than 50% of its shares or
- Investment in purchase of government or state enterprise bonds no less than 10 million THB.
The entire amount of investment should be in Thailand, whether be one investment of 10 million THB or combination of investments in property and fixed deposits and state issued bonds.
Following are the document that must be submitted for application of investment visa:
- Complete filled out application form
- Passport or travel documents with validity of not less than 6 months or 18 months in case of one-year validity.
- Documents serving as an evidence of an investment of no less than 10 million THB. The documents may be in the form of title deed of condominium unit, rental agreement, sale and purchase agreement or foreign exchange transfer form from the bank or a credit advice.
- A letter from Board of investment of Thailand.
Furthermore, if it is not possible to provide one of the required document then proper explanation letter has to be submitted explaining reason for the non-availability of the required document. The documents to be submitted has to be either in English or in Thai which may require certification by consular service.
The investment visa is initially for granted for 90 days and has to be used within three months from the date of issued. It can be renewed on yearly basis as long as the investment is maintained.