At present, Thailand’s Visa on Arrival and Tourist Visas offer a maximum validity of 60-days with the possibility to extend for an additional 30-days. While this may be ideal for holidaymakers, individuals looking to live and stay in Thailand for longer periods, may want to explore long-term residency options!
A common question from homebuyers and real estate investors is:
Can I get a long-term visa or permanent residency if I buy real estate in Thailand?
Unfortunately, permanent residence (PR) cannot be obtained through the purchase of property in the Kingdom of Thailand. However, it is possible for real estate investors and homebuyers to apply for an Investment Visa or be eligible for the Thailand Elite Flexible One (EFO) program. Read on to find out all the details on your options.
It is possible to apply for a “Thai Investment Visa” if you buy a Condo! (But conditions apply …
What is a Thai Investment Visa?
To keep it simple, foreigners can obtain a one-year Investment Visa by investing a minimum 10 million Baht (MB) in the following:
- Buying condominium units of at least 10 million Baht in new developments.
- Buying Thai government or Thai state enterprise bonds worth at least 10 million Baht.
- Deposit funds in a Fixed Deposit Account in a Thai Bank.
*These investment assets need to be held for a minimum period of 3 years before applying.
Foreign investors looking to apply for the Investment Visa program are permitted to invest in a combination of assets at their discretion.
As an example an investor can buy 2 condo units at 5 MB each or alternatively a 4 MB condo and deposit the remaining 6 MB in a Fixed Deposit Account; just as long as the minimum investment requirement of 10 MB is fulfilled.
It is important for potential investors to note:
- Thai Investment Visas do not allow foreigners to work in Thailand.
- Applicants must already hold a Non-Immigrant Visa.
- Investments can only be made in new builds directly from a developer.
The entry-level of Bt10 million minimum investment and requirements, unfortunately severely limits eligibility and benefits of applying to the investment program.
The biggest benefits of applying and obtaining a Visa of this category:
- Holders of Thai Investment Visas are granted a one-year visa that can be renewed on an annual basis.
- The immediate family of the investors (I.e., Spouse and Children) are eligible to apply for the visa as dependents.
The Thai Investment Visa is mostly aimed at boosting the Thai economy and would be appealing to a relatively restricted field of potential applicants.
This Thai Investment Visa category is aimed squarely at wealthy middle-aged individuals, looking to enjoy the relaxed and idyllic Thai lifestyle without the hassle of short-term visa runs.
Enjoying the perks of Thailand’s lifestyle and avoiding visa runs (If you can afford it)!
What is the Thailand Elite Flexible One (EFO)?
“The Elite Flexible One” is a new residency program launched by Thailand Privilege Card, an entity operated by the Tourism Authority of Thailand.
Thailand Privilege Card is commonly known for its Thailand Elite Card Residency Scheme. It launched the new residency program on January 1st as an attempt to stimulate the Thai real estate market and facilitate long-term residency of foreigners in the Kingdom.
The Elite Flexible One will offer real estate investors a 5-year multiple-entry visa when they purchase properties worth 10 MB through participating developers. The residency program’s membership fee is priced at 500,000 Baht.
This membership fee is relatively affordable compared to the other non-real estate backed Thailand Elite Residency Options. It is also more attractive compared to the Investment Visa as it offers a 5-year multiple re-entry visa.
For more information regarding the Elite Flexible One please visit:
Elite Flexible One Residency Program | Thailand Real Estate
Explainer Video: Thailand Investment Visa & Thailand Elite Card
Alternative Long-Term Thailand Visa Options!
It is important to note that Thailand offers a wide range of visa options from Non-Immigrant B Visa for working professionals, ED Visa for students and Retirement Visas for individuals over the age of 50.
Therefore, there may be other long-stay residency options that are more suited for your personal and professional needs. It is always recommended to consult with a lawyer to understand your residency options!
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ROMELYN DELCORO says:
Does retirement visa or investor visa holders can employ domestic helpers? I hope you can answer our question. Thank you
Fresh Editorial says:
Hi Romelyn,
Thank you for your comment.
Unfortunately, it would really be best to consult with a qualified Thai law firm.
Thanks,
Fresh Property Team
muhammed yoonus says:
If we get a inverstor visa . can we start business with visa
Fresh Editorial says:
Hi Muhammed,
Our understanding is that to start a business you would need to apply for a different Visa (Non-Immigrant B).
However, perhaps it would be best for you to consult with a Law Firm.
Thanks,
Fresh Property Editorial
tom says:
This visa doesn’t make sense if the wealthy can just get an elite thai visa for far cheaper.
Damon Phillips says:
Once the Elite visa runs out of date, thats it, depending on which one you opted for, eg; 5, 10, 15 or 20 year Elite visa options. You have to pay for another one once it ends. If you want to continue living in Thailand permanently without 90 day reports or visa runs. So look at the different “price options” of the Elite visa length of years. Eg; you pay for a 5 year Elite visa (cheapest option) once it runs out, thats it ended. You have to pay for another Elite visa, or apply and pay for a different type of visa when it ends. The “investment visa” you “do not” have to “pay” for a new one.. you simply “renew” it every year, provided you’ve still got investments of 10 million Baht (or above) in property, government bonds, or a Thai fixed savings bank account, etc.. So it “does” make sense for those who want to live in Thailand permenantly. You can not work on the investment visa. But as an example, if you have 10 million Baht, nothing stops you from say, buying 3 properties, eg; 2 condo’s at 3 million Baht each.. ( = 6 million ) and renting them out for a rental income. Leaving you with 4 million Baht left over, to purchase and live in your own property. With 2 rental incomes. It does not matter about the cost of the “new build” property or the amount of properties you own. As long as it is not below the 10 million Baht.
Carlos says:
Hi there, can you get it if you’re on a tourist visa or visa exemption ? And do you need to leave the country to get it? Thanks
Takeuchi says:
Hello.
I have two questions.
(1)
Can 10 million baht be converted from foreign currency outside of Thailand into Thai baht, or is it okay if the baht is originally in Thailand?
(2)
I heard that I need a non-Immigrant visa to get an Investment Visa, but do I need another non-Immigrant visa to renew my investor visa?
John says:
The money has to be transferred from outside Thailand (e.g. from Japan) and be converted only by your bank in Thailand. They do not accept money that you have earned or received otherwise in Thailand.
If you apply for this visa the immigration in Chaengwattana will give you first some other 90-day non-immigrant visa, after that you will receive the one year 10 mio visa. To renew that visa you just need to show them the same documents again (I.e. condo SPA, money transfer receipts etc.).
Sam Lat says:
I have a tourist visa and I’m in Thailand now. can I start from here or I have to leave the country and come back with a non-B visa?
Fresh Editorial says:
Hey Sam, thanks for your question we are a property agency.
We would advise you to contact an Immigration Lawyer or Immigration Agent.
Thanks
Lwy says:
I do know that for a property (apartment/condo only) to be registered under your name, the funds must be remitted from overseas in a foreign currency directly into the seller’s Thai bank account.
Andrew Jeffery says:
Hi, I believe. certain condos have to be passed by the Board of investment.
Q. How does the tax work on these rental properties if you have no work permit?
Andreas Kirchmair says:
Hello, I get the 10.000.000 investment Visa for ever ?
Thank you very much
Grant Spicer says:
What if Ibuy a condo for 25,000 USD
Can I just keep coming in on a tourist visa?
Do I have any standing regarding visas?
Fresh Editorial says:
Hi Grant, to get a Tourist Visa you don’t need to buy real estate in Thailand.
Just check your Country’s entry requirements into Thailand.
Jason Woolery says:
Hello, I’ve heard before that you can get an investment visa if you open a stock investment account with the SET. Is that correct? Can you give some color on that please. Thank you!
Fresh Editorial says:
Hi Jason, I believe you can get an Investment Visa if you invest in 10 Million Baht worth of Thai Government Bonds.
Hope this helps!
Nora says:
Hello, may I know how much it would cost to renew the investment visa yearly ? Thanks in advance.
Fresh Editorial says:
The renewal fee of the investment visa is identical to other non-immigrant visas – 2,000 THB for 3 months, 5,000 THB for 1 year and 10,000 THB for 3 years (although the three year visa is difficult to obtain).