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

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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 ownedor

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

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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.....

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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.

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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.

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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! 

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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?

 

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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?

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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.

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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

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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?

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1 hour ago, Firefan said:

(when is was 3M Baht but grandfathered)

are you still on that?

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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:"

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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 by fletchsmile

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

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