Since 2014, Thailand has introduced an Investment Visa program aimed at attracting foreign investors who can contribute significantly to the country’s economy. Under this scheme, foreigners who invest a minimum of 10 million Baht or more become eligible to obtain a one-year Non-Immigrant Visa, with the option to renew it annually after residing in Thailand for a year. This Investment Visa can be obtained by making the specified investment in various ways, such as purchasing a condominium, acquiring state enterprise or Thai government bonds, or depositing the funds into a fixed deposit account in a Thai Bank. One of the primary advantages of holding a Thailand Investment Visa is the opportunity for visa renewal each year, and it extends to the visa holder’s eligible family members.
Eligibility for a Thailand Investment Visa The Thailand Investment Visa program is designed to support the country’s economic growth and is tailored to a select group of individuals. It is particularly suitable for affluent individuals in their middle age who seek a comfortable and long-term lifestyle in Thailand without the complications associated with short-term visas.
Foreigners who can afford to invest a minimum of 10 million Baht in Thailand are eligible to apply for a Thai Investment Visa. This visa category is commonly chosen by individuals under the age of 50 who have no intention of working in Thailand. Those above the age of 50 with similar intentions often opt for a Retirement Visa instead.
Steps to Obtain a Thai Investment Visa
- Obtain a Non-Immigrant Visa: If you do not already possess a Thai Non-Immigrant Visa, you can apply for one at the nearest Thai embassy or consulate. It is crucial to inform the Thai Embassy of your intention to invest, as this visa is also required for those planning to invest in Thailand. Acquiring an Investment Visa may be more challenging, so prior investments in Thailand and at least one visit to the country might be necessary. You will need to provide documents such as a bank statement, a valid passport, and evidence of your investment in Thailand.
- Extend Your Visa: Once in Thailand with a Non-Immigrant Visa, you can apply for an extension at a Thai Immigration Office based on your investment. Given the uniqueness of the Investment Visa, it’s important to clearly communicate your visa extension requirements to the local immigration officer. Your documentation should match or closely resemble the documents you submitted during your initial application.
Requirements for a Thai Investment Visa To be eligible for a Thai Investment Visa, you must hold a Thai Non-Immigrant Visa and invest a minimum of 10 million Baht in either a fixed deposit account with a Thai bank, a government-approved condominium, or Thai government bonds.
Investment Options:
- International Transfer: You can transfer a total of at least 10 million Baht into a fixed deposit account in Thailand. Note that opening an account with a Thai bank might be challenging without a Non-Immigrant Visa or a work permit. It is recommended to choose a Thai bank with at least 51% of shares owned by Thai citizens to facilitate the account opening process.
- Condominium Purchase: Investing a minimum of 10 million Baht in a Thai condominium is another option. It’s crucial to ensure that the purchase price of the condo meets the Investment Visa requirements. Verify the condo’s value with the Department of Land and keep the transfer tax receipt as proof of its value when you purchased it. Only condos approved by the Thai government qualify for the Investment Visa, and you must own the condo for a minimum of three years to be eligible.
- Fixed Deposit in a Thai Bank: You can invest at least 10 million Baht in a fixed deposit account with a majority Thai-owned bank. Funds in this account cannot be withdrawn during the validity of the Investment Visa, but the visa application process should be relatively straightforward with a Thai bank account.
- Government or State Enterprise Bonds: Purchasing government bonds or state enterprise bonds at a local Thai bank is an option, though there may be limits on the amount available due to high demand. Investing a minimum of 10 million Baht in these bonds can be challenging but is a valuable addition to other investment options.
- Diverse Investments: Combining multiple types of investments, as long as the total sum invested is at least 10 million Baht, can also qualify you for a Thailand Investment Visa. For example, you could invest one million Baht in government bonds, five million Baht in a condominium, and four million Baht in a fixed deposit account.
Can Foreigners Gain Residency Through Investment in Thailand?
To obtain Thai permanent residency, you must invest a minimum of 10 million Baht in a public company, limited company, stock market, or state enterprise security and state-issued security. In summary, an additional 10 million Baht investment in Thailand is required to pursue citizenship using an Investment Visa.
If you need further or personalized advise on your visa option in Thailand, do not hesitate to contact UnionSPACE team
