10 Million Baht Investment Visa - Fixed Deposit

[supremeville 22]

Hi,

 

I did get an investment visa for buying a condo at more than 10  million Baht a while ago.

Visa extended 5 times already, but am thinking about selling my condo. 

 

So now I'm considering  putting 10 million Baht in a fixed deposit  account to get a new investment visa.

 

Quote

3.b. has at least B10 million in a fixed-deposit account at a Thai bank whose share capital is majority Thai owned; or

 

So Kasikorn, Bangkok Bank, Krungsri, or SCB are fine I guess.

 

But would any fixed deposit be fit (as long as it holds a 10 million balance)?

 

Did anyone get a visa with a 10-million baht fixed deposit account?

 

Thanks for  your help!

 

 

[ubonjoe 27,609]

3 minutes ago, supremeville said:

But would any fixed deposit be fit (as long as it holds a 10 million balance)?

Yes it would be accepted. It could even be in one where you incur penalties for early withdrawal that normally pay the highest interest.

Just be sure the it is in bank before the condo sale is finalized.

[Aussieroaming 3,406]

I have 10M Baht in a Wisdom Account with Kasikorn, which has the added benefit of the card. I never enquired into whether it qualified for the investment visa. 

[ubonjoe 27,609]

A off topic post meant to deflect the topic has been removed.

[ubonjoe 27,609]

16 minutes ago, Aussieroaming said:

I have 10M Baht in a Wisdom Account with Kasikorn, which has the added benefit of the card. I never enquired into whether it qualified for the investment visa. 

Not sure without more info about the account. But it should be allowed if the available balance always shows 10 million baht or more.

[Aussieroaming 3,406]

7 minutes ago, ubonjoe said:

Not sure without more info about the account. But it should be allowed if the available balance always shows 10 million baht or more.

Its a term deposit account, tied to a credit card

[ubonjoe 27,609]

21 minutes ago, Aussieroaming said:

Its a term deposit account, tied to a credit card

As long as the amount locked for the credit line for the card is included in the balance shown in the bank book it should not be a problem.

 

[Aussieroaming 3,406]

9 minutes ago, ubonjoe said:

As long as the amount locked for the credit line for the card is included in the balance shown in the bank book it should not be a problem.

 

Yes, the money is listed on the bank book.

[ubonjoe 27,609]

3 minutes ago, Aussieroaming said:

Yes, the money is listed on the bank book.

No problem then.

[nzdpower 2]

I am also interested in this topic, I currenty have 1.300.000 MYR in FD in Malaysia Bank earning 4.1 - 4,3%. This is about 10.000.000THB.

 

Do you guys know if I can get a similar % in Bangkok?

 

What was the process of transferring a large amount like this like? The most i've transferred overseas at one time is around 100k THB.

 

Does the bank ask you where the money came from? How to prove its legit if it was an inheritance (in my case)

 

How easy is it to transfer the 10mil back to malaysia in case I need to? Is there a lot of documentation or is this a 'small matter'?

[catman20 4,149]

having this sort of money an account sounds great until you want to get the money back to your own country.

 

its different i suppose if you bring the money here to buy a condo as you would ask for a tor tor sam and then sell it you can then get that money back to origin 

[ubonjoe 27,609]

6 minutes ago, catman20 said:

having this sort of money an account sounds great until you want to get the money back to your own country.

its different i suppose if you bring the money here to buy a condo as you would ask for a tor tor sam and then sell it you can then get that money back to origin 

No problem to send the money back if he has proof it was transferred from abroad. He could ask for that proof after it is transferred in and keep it for future use.

[henry15 305]

better open an fixed account at GSB. they give an higher intrest ad you don't have to pay the 15%  governmemt tax

[JayBird 462]

I thought the requirements for an investment visa was 40m THB. Am I confusing this with a different visa? Apparently the latter also allowed you to buy a small parcel of land in your private name.

[ubonjoe 27,609]

7 minutes ago, JayBird said:

I thought the requirements for an investment visa was 40m THB. Am I confusing this with a different visa? Apparently the latter also allowed you to buy a small parcel of land in your private name.

That is different category of investment.

The 10 million one is shown in clause 2.5 of Police Order 327/2557  basis for extension of stay.