Is there really a Thailand condominium investment visa? Believe it or not, it is indeed possible to obtain a visa that can be renewed annually if you meet set requirements; the most notable of these being a THB 10 million (USD 312,635) investment made into Thailand. If you are thinking about buying a new-build condominium unit(s) in Thailand, this visa might be an added bonus. Especially if you don’t qualify for other schemes such as the retirement visa programme.
What is the THB 10 million Thailand condominium investment visa?
The Thai government unveiled a revamped THB 10 million investment visa in 2014 to encourage more capital inflows into the country. The programme was designed to stimulate the property and bond markets while providing international investors with an incentive to consider a higher-level of investment.
The THB 10 million investment visa isn’t limited to simply condominiums. There are there asset classes overseas investors can place money into. These three investments are:
- Condo units in a new-build development
- Thai government or Thai state-enterprise bonds
- A deposit into a Thai bank account
What’s more, the THB 10 million can be distributed across the three different investment types. It would, for example, be possible to purchase a pair of THB 4 million (USD 125,000) condominium units and deposit THB 2 million (USD 62,530) into a Thai bank account to hit the THB 10 million minimum investment requirement.
While not solely a Thailand condominium investment visa, property tends to be the preferred asset for the majority of investors who apply for it.
Pros of investment visa
Cons of investment visa
No age restrictions
Investor’s family eligible to apply for visa
Visa doesn’t permit work
Must already have non-immigrant visa
Can only buy condominium units
Who is eligible to apply?
Unlike the retirement visa, there are no age restrictions on the THB 10 million investment visa. However, there are a few requirements you will need to meet before applying for the visa.
For starters, you must have a Thailand non-immigrant visa. The Thailand condominium investment visa is not available to anyone with a tourist visa. You will also need to provide evidence that you’ve transferred at least THB 10 million into the country and have proof of your investment. As long as you meet these requirements, you can apply for the visa.
What type of condominium can you get for THB 10 million?
If you’re interested Thailand condominium investment visa, the next step is finding the right new-build condominium. Here a few units currently listed on Thailand Property available for THB 10 million:
The Esse Asoke
A one-bedroom condominium in The Esse Asoke is THB 10.4 million (USD 325,000). This project from Singha Estate is centrally located near the Asoke BTS and Sukhumvit MRT stations and promises to bring a new standard of luxury to the city centre. A sky gym and golf simulator are among the amenities available to residents.
The Rich Nana
A little more expensive is a one-bedroom unit in The Rich Nana. A unit here goes for THB 10.5 million (USD 328,000). The 32-storey development is one of several new high-end condominiums springing up in Bangkok’s famed Nana neighbourhood. The project is within walking distance of the Nana BTS station and is equipped with a number of upscale facilities.
X2 Pattaya Oceansphere
In Pattaya, a two-bedroom condominium unit in X2 Pattaya Oceanphere is only THB 10.49 million (USD 327,500). Backed by the renowned X2 hospitality brand, the complex is a high-end collection of luxury pool villas. Units are freehold and investors can enjoy a strong return on investment.