3m Baht Investment Visa Not Fully Grandfathered ! OUCH!!
Thaivisa.com has sent an e-mail regarding:
3m Baht Investment Visa Not Fully Grandfathered
A poster stated:
"I have just returned from attempting to extend my permission to stay for another year,
based on owning a condo worth more than 3M baht.
As everyone probably knows, this was abolished for new applicants last year and intially it was stated
that existing aliens in this category would also not be given any further extensions.
However, after a lot of panic, this was changed and existing users were "grandfathered" in.
Subsequently, I extended my permission to stay by one year.
Today, I was not expecting any trouble, but I was refused an extension.
I was told that the law has changed and that they no longer consider the price you paid for the condo,
but instead look at a price which is assessed by the government.
On my receipt from the Land Registry these figures are given as ราคาทุนทรัพย์ 3,500,000 and ราคาประเมิน 2,270,000.
Effectively, they now consider that my investment is 730,000 baht too low.
If I put this amount in a bank account, they would give me permission to stay
(initially they said I would have to put 3M baht in a bank account, but then one of them
produced a procedural manual and decided that the investment does not have to be in one unit).
They emphasised that this amount would have to stay permanently in the bank, and produced a letter in English to this effect.
I pointed out, and they agreed, that I have had four previous extensions granted on this basis
but they stated again that "Immigration has changed the law" (this was said in English, twice).
Needless to say, I do not have a spare 730,000 baht which I can put in a bank
and not touch for ever, so I now have 26 days left in Thailand to sort this out.
Has anyone encountered this problem or does anyone have any ideas?
discussion and replies follow...
http://www.thaivisa.com/forum/index.php ... pic=142191
Hopefully our board members will not face this situation...
but IF you are in same-same situation...regarding using an INVESTMENT VISA
it may be best you read the replies in the cominfg days...
...and a solution - if any???
TIT - This IS Thailand!
TravelerJim
What type of visa do you have then
Re: What type of visa do you have then
Quote:
Originally Posted by WhiteDesire
What category??
I have a Non-Immigrant "O" Visa with a one year extension -
also known as a Retirement Visa...I am over 50 years of age.
The Retirement Visa is available for those 50+ years of age
with several requirements.
In past, an Investment Visa was available for those over AND "under 50"
who invested at least 3 Million Baht in Thailand...
and the purchase of a Condo valued at 3 Million Baht or more was OK...
and an Investment Visa was issued to the applicant.
However, it appears the rules are changing...and those holding the
Investment Visa based on 3 Million Baht invested in Thailand may
have new rules to qualify under...
see the thaivisa.com posting link above for more updates.
This is Thailand...TIT...and all is subject to change!
TravelerJim
In defense of Thai government policy ...
... there was none better than boygeenyus. Bring back The Lad, I say. And I'm looking forward to hearing from those who believe property investment, even in Thailand, is a Good Thing because as we all know, property never loses its value and keeps place with inflation