Thailand Investment Visa - Quick Tips For Investors
Are you looking to invest in Thailand and need a visa? This article provides quick tips to help you understand the process of obtaining a Thailand Investment Visa.
We go over the requirements, documents and applications needed for a successful investment, so that you can make your investing experience in Thailand as easy and smooth as possible.
What is Thailand Investment Visa?
An investment visa is a powerful way for investors to secure an extended stay in Thailand.
The visa program is structured to provide investors with residency and long-term access to the Southeast Asian country.
This can be beneficial for business owners who wish to start operations in Thailand or those looking for a more relaxed lifestyle.
In order to qualify for this visa, Applicants must invest at least 10 million Thai Baht.
Once approved, the investor will receive an investor's visa issued by a local Thai embassy that allows them up to 20 years of residence in Thailand and multiple re-entry into the country.
This type of visa also allows eligible family members such as parents or children under 20 years old to travel with the primary applicant if they meet eligibility requirements.
Immigration privileges include assistance from tax experts, as well as assistance with property ownership registration and legal advice about doing business in Thailand.
Investors may also nominate their respective families when filing their applications; however, each family member will be responsible for conducting their own background check and ensuring that they meet all additional eligibility criteria prior to application submission and issuance process.
Requirements For Investing in Thailand
Let's go over the necessary visa requirements to make your first investment in Thailand.
Deposit 10M THB
One of the requirements for obtaining an investment visa in Thailand is to deposit 10 million THB into a Thai bank account. This amount must be kept in a majority-Thai owned bank account at all times and will serve as proof of financial stability to the relevant agency.
The money deposited must not be withdrawn during the sanctioned period of the visa and should not be used to pay any fees related to the visa application or processing fees by the investment visa holders.
In addition, individuals wishing to qualify must provide evidence that they have sufficient liquid capital available to finance their own living expenses and those of any dependents.
The agency overseeing the application may also require additional documents such as a business plan, proof of residence, valid passport, a foreign exchange transfer form and other documents pertinent to laundering activities or illegal transactions.
It's important for potential applicants to note that only deposits made in a Thai bank are accepted. Investors are prohibited from using offshore accounts as evidence or security when submitting a signed visa application form.
After meeting all requirements applicants can continue with submitting their documentation for consideration by the relevant agency.
Buy a 10M Condo
One of the popular options of investing in Thailand is to purchase a 10 million baht (approximately 315,000 USD) condominium. The property must be registered in your name, and once it has been concluded, you can apply for the visa.
In addition to a minimum purchase price of 10 million baht, it is important that the available balance in your bank account does not fall below 3 million baht (approximately 94,000 USD).
Documentation verifying your financial standings, the purchase agreement, along with a transfer tax receipt from the international transfer should be provided when submitting your application.
You must include copies of certification from professional and expert bodies related to your investments and business activities; tax payment records; company registration documents; and bank statements proving that the selected funds are no less than three months old on the date of application.
Hold A Fixed Deposit Account
Another way of getting a Thai investment visa is holding a Thai bank account with a fixed deposit.
This deposit must be a fixed balance equal to no less than 10 million Baht, or the equivalent amount in foreign currency, such as US Dollars or Euros.
Evidence of this deposit must be provided by submitting a copy of a recent bank statement and accompanying letter to the relevant Thai Embassy.
The bank account should have been opened at least three months before any applications are made.
In addition, applicants will also need to provide valid passport, a travel document and other foreign documents such as birth certificates, marriage certificates and proof of address.
Invest in Bonds
You can purchase Thai Government Bonds worth at least 10 million baht (around $300,000) and hold them for a minimum of 5 years to obtain a non-immigrant investment visa.
Invest in Thai Stocks or Mutual Funds
Alternatively, you have the option to buy Thai stocks or mutual funds. You should hold them for at least three years. You can also choose to buy government or state enterprise bonds. Purchasing a state enterprise security is also available for investors.
Hold Multiple Investments
You can also opt to have multiple investments in order to be granted the right to live, work and visit Thailand anytime you want.
Applicants are required to have at least 10 million baht of investments (around $320,000 USD) which can be invested in a public company, a condominium unit, state issued security, Thai government bonds (Thai nationals owning over 50% of share), state enterprise bonds, stocks/shares or mutual funds. Loans are not accepted.
Benefits of Thailand Investment Visa
The Thai Investment Visa, commonly known as the Non-immigrant Visa with Investment, is a great way for individuals and families to take advantage of the country’s economic growth and stability as well as its world-renowned hospitality.
Here are the benefits:
- A five year renewable visa that allows you to work in the country;
- Access to Thai healthcare;
- Education services;
- Residency, tax and other legal advantages;
- Opportunities to invest in Thai stocks and property development projects.
Furthermore, the Thai government provides generous financial incentives for investors looking to relocate in order to promote foreign investment on a non-immigrant visa.
These incentives are designed to encourage investment from overseas entrepreneurs who can bring fresh capital into the country’s economy.
Qualified businesses are eligible for tax refunds of up to 70 percent on their investments for up to eight years following their relocation.
In addition, visa holders can avail themselves of various types of support services provided by the Board of Investment (BOI).
These services include guidance on setting up businesses in Thailand, practical advice when dealing with bureaucracy, visa extensions and more.
The BOI also operates a Value Added Tax (VAT) Benefit Program which allows investors access to zero business taxes while they transfer ownership of money or goods into or out of the country.
Work Permits and Family Members
When applying for a investment visa for your family, it is necessary for investors to obtain a work permit as well.
If members of your family are accompanying the investor, then each family member will also need to secure a work permit from a prospective employer in order to remain in the country.
You can apply for work permits for those coming with you on an investment visa by submitting all necessary documents, such as income tax and paying the applicable government fees to your local immigration officer.
A list of necessary documents can be found on the Thailand Immigration website.
In addition, many foreign investors have chosen to add their spouses or children as directors or shareholders of their company when registering a business in Thailand.
To do this legally without violating Thai labor laws, these individuals must obtain a Foreign Business License and also secure an endorsement of their passport from the Thai Department of Labor or Employment Office before they become involved with any commercial activities in the country.
It is important to note that if any members of your family who wish to remain longer than 90 days on an investment visa, they must register with their respective immigration office within 15 days of arrival. This visa is renewable annually as well.
Looking for other visas, such as retirement visa? Go here.