How to get a one-year extension of stay based on an investment of 10 million baht?

[338den]

Hello,
Now I am living in Thailand on the ED visa (study in a language school). I applied for a 1-year language course in school, got a ED-visa and should extend it every 3 months, until course will finished (total 3 extensions).
After the third extension, If I will transfer a 10 million baht to a Thai bank on a fixed deposit, will I qualify for a one-year extension of stay?
Can I live here with this ED-visa and not study and apply for one-year extensions every year?

What is the process?
Thinking of getting an Elite visa, but considering these one-year extensions based on 10 mln baht investment instead.

 

From Bangkok Immigration site:
"20. Question : Could the alien (about 35 year of age) stay in Thailand without working or marriage to Thai national? If so, what are the requirements?
        Answer : Yes. The said alien could stay in the Kingdom by the reason of investment of no less than 10 million Baht in Thailand. The requirements are that the alien:
 Must have been granted a “Non-Immigrant visa”
Must have evidence of transferring funds into Thailand of no less than 10 million Baht. (Copy of evidence showing a tranfer of funds from a foregin country to a bank in Thailand)
Must have evidence of investing in the purchase or rental of a condominium unit for a period of no less than 3 year issued by a relevant agency or government unit, at a purchase or rental price of no less than 10 million Baht (Copy of condominium purchase agreement and copy of the ownership registration of the said condominium issued by government or relevant agency or a copy of a long-term lease agreement are needed documents): or
Must have evidence of investing in the form of a fixed deposit of no less than 10 million Baht with the Bank which is registered in Thailand and has Thai national holding more than 50 percent of it’s shares (Funds deposit certificate issued by the bank and a copy of evidence of funds deposit are required documents) : or
Must have evidence in the purchase of government or state enterprise bonds of no less than  10 million Baht ( copies of bond certificates are needed documents) : or
Must have evidences of making an investment as set out in Criteria3),4 or 5) with a total value of not less than 10 million Baht."

 

 

Thanks for your help!

Edited September 10, 2019 by 338den

[ubonjoe]

Not sure what website you found that info on. I suspect it was not a official site.

You can apply for a one year extension of stay based upon a 10 million baht investment.

General requirement for the extension are here. https://www.immigration.go.th/content/service_5

After getting the one year extension you can attend school since a non-ed visa is not required to attend school.

You will likely have to leave the country and re-enter the country using a tourist visa or visa exempt entry to a apply for a 90 day non immigrant visa (category B) entry at immigration that is needed to apply for the one year extension. Visa application requirements are here. https://www.immigration.go.th/content/service_85

[338den]

Thank you sooo much!

[justin case]

I tried that once at Samut P.  but they were not interested to help me, 10 M was on the bank, brought bank book and other papers... <deleted>

[jackdd]

You need to transfer 10 million baht from abroad and have them invested in a condo, Thai company or government bonds, not only have them in your bank account.

[ubonjoe]

11 minutes ago, jackdd said:

You need to transfer 10 million baht from abroad and have them invested in a condo, Thai company or government bonds, not only have them in your bank account.

That is not correct.

The 10 million baht can be in a bank account. From the page on the immigration website that I posted a link to.

"B. Investment of no less than Baht 10 million:
1. Application form
2. Copy of applicant’s passport
3. Copy of evidence showing a transfer of funds from a foreign country to a bank in Thailand
4. Copy of a condominium purchase agreement and a copy of the ownership registration of said
condominium issued by the government or relevant agency (in the case of purchase of a
condominium) or a copy of a long-term lease agreement; or
5. Funds deposit certificate issued by a bank and a copy of evidence of the funds deposit (only in
the case of investment in funds deposit); or
6. Copies of bond certificates (only in the case of investment in a purchase of government or state
enterprise bonds)"

[Sexbomb]

35 minutes ago, ubonjoe said:

That is not correct.

The 10 million baht can be in a bank account. From the page on the immigration website that I posted a link to.

"B. Investment of no less than Baht 10 million:
1. Application form
2. Copy of applicant’s passport
3. Copy of evidence showing a transfer of funds from a foreign country to a bank in Thailand
4. Copy of a condominium purchase agreement and a copy of the ownership registration of said
condominium issued by the government or relevant agency (in the case of purchase of a
condominium) or a copy of a long-term lease agreement; or
5. Funds deposit certificate issued by a bank and a copy of evidence of the funds deposit (only in
the case of investment in funds deposit); or
6. Copies of bond certificates (only in the case of investment in a purchase of government or state
enterprise bonds)"

Ubonjoe: where does it say that it can be "money in a bank account"?

 

I am asking as I have dug deep into this as I am in the process myself of getting such based on real estate.

 

If the definition of what we are talking about here is "money wired into a regular bank account in the amount of 10 MIL / THB" then your statement is not accurate unless I missed or misunderstood something.

 

A)

The money needs to be shown to be wired in from abroad.

 

B)

It needs to be invested in one of the mentioned instruments

 

C)

If investing in a condo, it needs to be directly from the developer and held for at least three years (or something like that from the top of my head).

 

Several condos can be combined to cover the 10MIL/THB requirement as long as they fulfill the 10 MIL / THB threshold in registered purchase price BUT some immigration officers say that condos in different provinces can't be combined which is not stated anywhere in the requirements.

 

[ubonjoe]

2 minutes ago, Sexbomb said:

Ubonjoe: where does it say that it can be "money in a bank account"?

Number 5.

Note it can a combination of 4, 5 or 6 as well. 

[Sexbomb]

2 minutes ago, ubonjoe said:

Number 5.

Note it can a combination of 4, 5 or 6 as well. 

I do believe that refers to fixed deposits of various kinds and/or similar.

 

Not cash in a bank account.

 

If that would be the case, then all other requirements would be futile don't you think?

 

Such as buying an off plan condo, holding it three years, etc when you can just wire money in and put on a bank account.

 

Money in the bank in a regular bank account is not much of an investment nor, and I am almost certain, does it qualify for an extension based on a 10MIL / THB investment.

[ubonjoe]

7 minutes ago, Sexbomb said:

I do believe that refers to fixed deposits of various kinds and/or similar.

That is only part of the web page I posted a link to (https://www.immigration.go.th/content/service_5). This is shown further up on that page.

"(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million
with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent of
its shares; or"

[Sexbomb]

17 minutes ago, ubonjoe said:

That is only part of the web page I posted a link to (https://www.immigration.go.th/content/service_5). This is shown further up on that page.

"(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million
with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent of
its shares; or"

I am pretty sure 10 MIL / THB wired in from abroad sitting in a regular bank account does not qualify for this type of extension.

[ubonjoe]

6 minutes ago, Sexbomb said:

I am pretty sure 10 MIL / THB wired in from abroad sitting in a regular bank account does not qualify for this type of extension.

The immigration website and the police order state it is allowed and I am certain that there are people that have gotten the extension with only the 10 million or more in the bank.

 

[cerox]

Interesting topic.

Would be nice to hear if anybody has real experience about combining 2-3 condo units which are in total above the 10M mark.

It is a really good option / alternative for Elite, because the money is not lost.

[Pilotman]

One year extension ; give 10 million to the Thais as an 'investment', sounds like a very  lousy deal to me. 

[ThomasThBKK]

10 minutes ago, Pilotman said:

One year extension ; give 10 million to the Thais as an 'investment', sounds like a very  lousy deal to me. 

Especially as it's limited to new approved condos which rules out all good investment condos...

[Sexbomb]

14 minutes ago, ubonjoe said:

The immigration website and the police order state it is allowed and I am certain that there are people that have gotten the extension with only the 10 million or more in the bank.

 

I will not debate you on this but I think that you read things incorrectly.

 

I am very sure it is fixed deposits and so forth as per 3b below.

 

Fixed deposit defined: https://en.wikipedia.org/wiki/Fixed_deposit

 

Pursuant to the Police Order, a foreigner is eligible for a renewable Investment Visa if such a foreigner has invested in Thailand and:

1) holds a non-immigrant visa (in other words, not a tourist visa); and

2) has evidence of transferring at least ten million Thai Baht into Thailand; and

3(a) has evidence — obtained from a relevant authority — showing investment in a legally defined condominium unit (either freehold or a 3-year or more leasehold) at a purchase price or a rent of at least ten million Thai Baht; or

3(b) has at least ten million Thai Baht in a fixed deposit account at a Thai bank whose share capital is majority Thai owned; or

3(c) has purchased and owns Thai government or Thai state enterprise bonds worth at least ten million Thai Baht.

[Sexbomb]

17 minutes ago, cerox said:

Interesting topic.

Would be nice to hear if anybody has real experience about combining 2-3 condo units which are in total above the 10M mark.

It is a really good option / alternative for Elite, because the money is not lost.

I am in the process but not immediately but have been in contact with many immigration lawyers to get consultation and I have very good indirect contacts with immigration.

 

They are combinable if you fulfill the rest of the requirements but I am still to find out if you can combine condos in different provinces.

 

I guess that will depend who sits in front of you when actually making the extension.....

[Sexbomb]

5 minutes ago, ThomasThBKK said:

Especially as it's limited to new approved condos which rules out all good investment condos...

Off plan condos bought directly from the developer.

[ubonjoe]

8 minutes ago, Sexbomb said:

I will not debate you on this but I think that you read things incorrectly.

 

I have already posted the info that it does have to be in fixed deposit account. See post #10.

Did you open the webpage I posted a link to that is on the official Thai immigration website.

[Firefan]

I hold the investment visa (when is was 3M Baht but grandfathered) and yes; you can combine condos/time deposit(s). When condo it is based on the tax paid during transfer amount, and since it is normal, and accepted to set the taxable amount value lower than the actual sales price (to save a bit there) - it is important to ensure one has the 10M as taxable value and/or top up with time deposit. Cheers! 

[Sexbomb]

14 minutes ago, ubonjoe said:

I have already posted the info that it does have to be in fixed deposit account. See post #10.

Did you open the webpage I posted a link to that is on the official Thai immigration website.

Clearly, with all due respect, I think that the original posters that you said was wrong, his/her definition of a bank account is like a current bank account and not a fixed deposit account don't you think?

 

[Sexbomb]

9 minutes ago, Firefan said:

I hold the investment visa (when is was 3M Baht but grandfathered) and yes; you can combine condos/time deposit(s). When condo it is based on the tax paid during transfer amount, and since it is normal, and accepted to set the taxable amount value lower than the actual sales price (to save a bit there) - it is important to ensure one has the 10M as taxable value and/or top up with time deposit. Cheers! 

When you say "combine condos", do you also mean condos in different provinces?

 

May I ask where you get your extension(s) made?

[cerox]

Assuming I decide for the investment visa:

How do I get this non-immigrant visa that is a prerequisite for the investment visa / extension of stay based on investment?

I do not qualify for marriage, retirement, ED, work in TH, or other non-immigrant visas.

[ubonjoe]

1 minute ago, cerox said:

Assuming I decide for the investment visa:

How do I get this non-immigrant visa that is a prerequisite for the investment visa / extension of stay based on investment?

I do not qualify for marriage, retirement, ED, work in TH, or other non-immigrant visas.

As posted earlier you can apply for a visa at immigration when you have the 10 million baht in the bank. See: https://www.immigration.go.th/content/service_85

[Chazar]

3 hours ago, jackdd said:

You need to transfer 10 million baht from abroad and have them invested in a condo, Thai company or government bonds, not only have them in your bank account.

And to remember that years  ago you could do this and then they cancelled it, wasn't it 3  million baht buy a condo= visa?

[Chazar]

1 hour ago, Firefan said:

(when is was 3M Baht but grandfathered)

are you still on that?

[ubonjoe]

3 minutes ago, Chazar said:

And to remember that years  ago you could do this and then they cancelled it, wasn't it 3  million baht buy a condo= visa?

The 3 million baht option was rescinded in 2006 and those using could still be getting the extensions.

(2) Must have entered the Kingdom before October 1, 2006 and must have been consecutively permitted to stay in the Kingdom for an investment of no less than Baht 3 million:"

[cerox]

Quiet interesting, thank you very much.

[fletchsmile]

I was looking at this recently, but decided that a 10M investment in condo; cash deposit or government bond in my name doesn't suit us. THB 3 million like Firefan did would have been worth considering, but none of those appeal as an efficient investment if THB 10 mn in my name.

 

As for what the website says:

 

https://www.immigration.go.th/content/service_5

 

The English version isn't worded very well as often the case. But it does seem to say:

 

A) Condo or Deposit or Gov Bonds of 10M

B) Or a combination of these 3 that exceeds 10M

C) On the subject of fixed deposit route or not it's a bit inconsistent in English and not well written, but the Thai is quite clear in the requirements that a fixed deposit is needed.

 

At the end of the day though I guess it's still only what they are writing on a website, and no doubt different officers and offices will do different things for different people on different occasions as per usual. Practice often differs too to what should be done when it comes to these guys LOL

----------------------------------------------------------------------------------

FWIW. For anyone interested

 

The English requirement says:

 

https://www.immigration.go.th/content/service_5

 

Quote

(4) Must have evidence of investing in the form of a fixed deposit of no less than Baht 10 million
with a bank which is registered in Thailand and has Thai nationals holding more than 50 percent of
its shares; or

whereas the Documents to be submitted  is worded differently though, and describes only "funds deposit", and doesn't specify exactly what type of deposit clearly. Funds deposit is a very ambiguous term, not to mention it isn't used properly the way they have used it, and "funds deposit" isn't good English. "Funds deposited" yes - "certificate of funds deposited" yes, but not funds deposit

 

Quote

5. Funds deposit certificate issued by a bank and a copy of evidence of the funds deposit (only in
the case of investment in funds deposit; or

 

The Thai version is similar to an extent if you toggle to Thai language at the top. But in my view generally clearer with the Thai actually being properly worded unlike the English.

 

There are different words in Thai specifically for fixed deposit, current account, savings account, just as there are in English, as well as the general word deposit

 

In the requirement section of the Thai lang version it quite clearly states that evidence of a fixed deposit (การฝากเงินประจำ) is required rather than just saying deposit or any other type of account. It isn't a word for word translation, as the Thai says it in a different way than we do in English, but it's definitely referring to making a fixed deposit.

 

In the documents required it doesn't specify either, but it is grammatically correct and simply says a certificate of deposit (หนังสือรับรองการมีเงินฝาก) as a correct Thai term. 

 

Given they told you earlier it should be a fixed deposit, there's no need to specify what time of deposit it is in the certificate plus it would sound odd anyway, Same way in English you wouldn't usually say a certificate of fixed deposit. Trouble is when they translated it they have translated into something that sounds odd in English

 

------------------------------------

 

Edited September 12, 2019 by fletchsmile

[Rimmer]

Off topic trying to sell a condo post has been removed also a reply