Haven’t Heard Of The Investment Visa Thailand? Here’s How It Works and who qualifies!
Investment Visa Thailand is a beautiful country and as their culture and way of life is being brought to the forefront of the world, more people are looking for how to gain entry into the country either on a vacation to unwind and they would like to own a place while they are there. Some other people are more interested in moving permanently for some period of time or to settle in Thailand forever so having a nice piece of property will also help make the transition a smoother process. There are a number of visas that can be used to gain access into Thailand and one of the most popular kinds of visas is the Thailand condominium visa.
So what is the Thailand condominium investment visa and how does it work?
For those who have no idea what this visa is, it is a visa that allows you to invest in assets in Thailand and you are to renew the visa every year. The Thailand condominium investment visa which the Thai government introduced to encourage more property investment in the country, has helped draw the attention of wealthy people around the world who like to invest in real estate to the Thailand property market. As the name implies, this visa allows you to invest in new build condominiums as long as you are able to meet some stipulated requirements. You are not allowed to buy other kinds of the property however, you may only invest in condominium units through an easy and straightforward procedure. This visa makes it easier for foreigners to have an avenue where they can invest heavily in properties and bonds in Thailand, however, your investments must total up to 10 million Thai Baht which is why it is also called the THB 10 million visa.
Just because the name of the visa contains condominium in it does not mean you are only allowed to invest in assets like condos, there are other assets you can purchase that makes it you eligible for this visa such as Thai government bonds or state enterprise bonds and by making a fixed deposit into a Thai bank account.
What is great about this Visa is that you can spread your investment over these three categories to make up the required minimum of a THB 10 million investment. So if you are not keen on injecting THB 10 million into property alone, you can buy say, THB 4 million of bonds, make a fixed deposit of THB 3 million and buy condominiums worth THB 3 million so you would have made a complete investment of THB 10 million in the Thai economy.
Although provision has been made for other assets to be invested in with this visa, most people tend to prefer investing in property as its value may escalate over the years and they will also have a nice place to live in or rent out. When the provision for this visa was made in 2014, the government wanted to give foreigners who were heavy investors in Thai property an opportunity to have their own advantage with immigration policies. They also believed that having such a visa would attract more investors to the country and thus boost the economy which has worked well for them to some extent.
Any Questions? Let’s talk about
Who is eligible for a Thai condominium investment visa?
If the Thai condominium visa sounds like something you would be interested in getting for yourself, you must be wondering what the eligibility criteria are and you would like to know if you qualify to apply for this visa. If you have some THB 10 million you are ready to invest in the Thai economy, and you meet the following requirements, then you will be able to get condominium investment visa without an undue amount of stress
There is no age restriction on who can apply for the THB 10 million visas. Unlike some other visas that you need to be of a certain age to apply for, people of all ages qualify for a Thailand condominium visa.
To qualify for the Thailand investment visa, you must have a Thailand non-immigrant visa. This means that people with a temporary visa like a tourist visa or student visa cannot qualify for a Thailand condominium investment visa.
Proof of investment
The minimum amount of Thai baht that you can invest in the Thai economy with this visa is THB 10 million. To qualify for the Thai condominium visa, you will need to show evidence that you actually have made a transfer of the stipulated amount into Thailand. You will also need to provide evidence that you have purchased a condo by presenting a copy of the title deed which must be registered with at the local land office.
If you meet all of these requirements and you want to have a Thailand condominium investment visa, then you can go ahead and follow through with the application process for this visa. Your family and close relatives will also be made eligible for Thai visas by virtue of you having a Thailand condominium investment visa. It is quite obvious that there are quite a few advantages to gain by applying for and gaining one of these visas.
The Thailand condominium investment visa is targeted at people of all ages who can afford to invest and foreign individuals who would love to own property and assets in Thailand. It is among one of many smart visa options made available to highly skilled foreigners, executives, entrepreneurs and investors by the Thai government to help drive innovations in various industries like business and real estate. SMART visas like the SMART-T visa which seeks to recruit talented and highly skilled individuals to the country, the SMART- E Visa aimed at executives and the SMART- S visas which are suitable for startups, since their inception in February 2018 have been able to attract foreigners who meet the requirements for their chosen SMART visa category and enabled them set up businesses, buy property, and contribute to the growth of their industry through gainful employment in the country.