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ResourcesVisa & Immigration LawThailand Immigration Law5 Year Long Stay Visa for Thai Condo Purchase?

5 Year Long Stay Visa for Thai Condo Purchase?

Transcript of the above video:

As the title of this video suggests, we are discussing a long stay 5-year Visa associated with purchase of a Thai Condo. 

A recent article from the Nation, that is, the article is titled: Long Stay Visas Proposed for Foreigners Who Buy 3 Million Baht Condos. Quoting directly: "Under the proposed" and it is proposed and let me sort of frame this, I urge those who are watching this video to go read this article in detail. Long story short, there are various groups in Thailand who are trying to spur interest in the Thai property market by creating a Visa scheme that is sort of tied to Thai Condo purchase. For those who are unaware, we have done a number of videos on this channel. Foreign Nationals can buy a Thai Condo and gain freehold title notwithstanding the restrictions to Thai property ownership pursuant to the various laws and regulations of the Kingdom of Thailand. 

Long story short, you can buy a condo in Thailand presently and if it is over a certain amount, namely 10 million Baht, it is possible to get a Non-immigrant visa. Currently to the best of my knowledge, it continues to be renewable in one year increments although apparently they are looking to change that. It looks like they are trying to create one for those who buy a 3 million Baht condo possibly to get a 5-year Visa. Quoting directly: "Under the proposed 3-tier visa system, foreign purchasers of condos worth 3 million baht to 5 million Baht would get a 5-year Visa."  So again, and as noted in videos I made contemporaneously with this one, this all remains to be seen. It is all a proposal but I think we are probably going to see something come out of this where we see some sort of new Visa, maybe the word new is the wrong word but some sort of Visa categorization that gets tied to Thai Condo ownership and perhaps they may drop the threshold amount that will meet the requirements for Visa issuance. 

Now we will continue to update you on this channel as the situation progresses.