Introduction
The Thailand Investment visa (Non-Immigrant IM) aims to encourage foreign investment in the country and provide long-term residency opportunities for eligible individuals. The Investment visa allows you to stay in Thailand, as long as you meet certain requirements and invest a minimum of 10 million THB into the Thai economy.
In this blog post, we will explain what the Thailand Investment visa is, how to qualify for it, and what steps you need to take to apply for it
Key Points
- Applicants must invest at least 10 million THB to be eligible for the investment visa
- Eligible investment categories include: Purchasing or leasing property for at least three years, Maintaining a fixed deposit account with a Thai bank and Investing in government or state enterprise bonds.
- The 10 million THB does not have to be invested in a single investment category and can be spread across any of the eligible categories.
What is the Thailand Investment Visa?
The Thailand Investment visa, also known as the Non-Immigrant IM visa, is a special type of visa that grants the holder permission to stay in Thailand. To be eligible for an Investment visa, the applicant must have invested at least 10 million THB in certain approved investments e.g. property or government bonds.
The main benefit of the Thailand Investment visa is that it allows the holder to live long term in Thailand without having to either apply for a Non-Immigrant O visa or obtain employment in the country. Should a holder of an investment visa wish to work, they must apply for and obtain a valid work permit.
Furthermore, eligible family members, including parents, spouse, and children (under 20), can apply for dependent visas based on your investment visa.
The visa is renewable every year, as long as you maintain your investment and comply with the visa conditions.
Who is Eligible for the Thailand Investment Visa?
The Thailand Investment visa is primarily intended to attract wealthy individuals who wish to enjoy a relaxed lifestyle in Thailand without the complexities associated with short-term visas. To qualify for the Thailand Investment visa, you need to meet the following requirements:
- be at least 20 years old and have a valid passport with at least 6 months of validity.
- Invest a minimum of 10 million THB in one or more of the following options:
- Purchasing a condominium. Please note, the foreigner must be registered as the owner and have a Yellow House Registration book (Tabien Baan – Thor.Ror 13).
- Leasing a condominium for at least three years.
- Maintaining a fixed deposit account with a Thai bank
- Investing in government or state enterprise bonds.
It is important to note that these investments can be combined as long as the total value amounts to at least 10 million THB.
- provide proof of your investment and its source, such as bank statements, certificates, contracts, etc.
- have a health insurance policy that covers you for at least 40,000 THB (about 1,200 USD) per outpatient visit and 400,000 THB (about 12,000 USD) per inpatient visit.
- have no criminal record or history of overstaying in Thailand or any other country.
Option 1: Purchase or Lease of a Condominium
One way to meet the investment visa requirements is by purchasing or leasing a condominium in Thailand. The purchase price of the condominium must meet or exceed 10 million THB. It is advisable to verify the value of the condominium directly with the Department of Land and keep the transfer tax receipt as proof of the property’s value at the time of purchase. Additionally, the condominium must be from a developer approved by the Thai government, and you must own it for a minimum of three years.
Option 2: Fixed Deposit Account with a Thai Bank
Alternatively, you can invest a minimum of 10 million THB in a fixed deposit account with a Thai bank. However, opening an account might be challenging if you are on a tourist visa.
Option 3: Government or State Enterprise Bonds
Investing in government or state enterprise bonds is another viable option for meeting the investment visa requirements. These bonds can be purchased at any local Thai bank, but availability may be limited, as they tend to sell out quickly once issued. While it may be challenging to invest at least 10 million THB solely in bonds, combining this option with other investments can contribute to meeting the overall investment threshold.
Multiple Investment Options
It is worth noting that you can obtain a Thailand Investment visa by combining the above investment options, you do not need to invest 10 million THB into one option. As long as the total sum invested is at least 10 million THB, you can mix and match investments to meet the eligibility requirements. For instance, purchasing government bonds worth one million THB, a condominium worth five million THB, and investing four million THB in a fixed deposit account would satisfy the investment visa criteria.
What are the Requirements for Renewing an Investment Visa in Thailand?
To apply for the Thailand Investment Visa, you need to follow these steps:
To renew an investment visa in Thailand, the applicant must maintain the investment of at least 10 million THB in Thailand and provide documents proving the investment, such as a bank statement or a sale and purchase agreement.
The visa can be extended as long as the investment is maintained, and the holder can renew it annually.
Our Thoughts
The Thailand Investment visa is a great option for those who want to live in Thailand for the long term without having to work or run a business there. However, it requires a substantial investment of at least 10 million THB (about 300,000 USD) in one or more approved categories. While this visa offers an opportunity for those who hold investments in Thailand, the LTR visa or Thai Visa Elite may also be suitable alternatives. Both of these visa categories offer benefits such as tax incentives to the holder. For more information about these visas, please take a look at our posts here.
If you have any questions or need assistance with your visa application, please contact us today. Our experts have accumulated a lot of experience when applying for visas in Thailand and are available to assist you with your application to help make the process as smooth as possible.
