Economic expert warns of real calamity, Special Tourist Visa a fiasco as boss warns of at least 1 million jobs lost without mass tourism being reopened, Thailand’s new foreign tourism is limited despite the Special Tourist Visa and new Chinese arrivals, Tourism industry could be left on its knees if curbs on inbound foreigners are not relaxed or lifted in time, Rejigged Thailand Elite card seen as a key tool in promoting the country as an oasis for the wealthy to flock to, Time up for some long-stay business owners as immigration warns of arrests after Saturday’s deadline, Visa amnesty to end with 30-day extensions on application as the focus moves to long-stay visa holders, American and Thai wife arrested for operating an illegal visa business in Bangkok using fake official stamps, Broken-hearted Swede fears history will repeat itself as shock parting left him stranded in Laos for 4 months, Two Immigration Bureau officers in Nonthaburi suspended after video appears to show bribe request, Stranded foreigners must get embassy letter, new visa or leave Thailand to avoid arrest by police, PM signs order granting visa extensions to all valid visa holders until April 30th to cull queues, Officials find a visa solution for up to 500,000 foreigners riding out the coronavirus crisis here in Thailand, Smart cars highlighted by the Immigration Bureau as it seeks out foreigners hiding from the law, Immigration boss warns that a new crackdown on foreigners flouting Thai laws has begun, It’s a hard station for Thai police and foreigners should understand better the job they do to keep order. There is also a 191,400 Baht Government fee that must be paid on receipt of the residence book. James Morris is a pename for an international writer based in Bangkok who works on various international news media. Moreover, it is another step on the road to acquiring citizenship, and a Thai passport. You can apply for a Thai residence permit if: You need the citizenship for business or employment reasons You need permanent residency for investment purposes (min. But permanent residency isn’t easy to get in Thailand and applicants need to speak Thai. Consult our corporate lawyers before setting up your limited company in Thailand. Permanent Residency for Investment purposes – Applicant should have a minimum of 3 million Baht invested in a limited or public company in Thailand, and have a Thai state-issued security corporation, Thai state enterprise’s security corporation or the Thai Stock Market; Be sure to consult our property lawyers before doing so. © 2021 Thai Examiner. Thailand offers a beautiful environment and quality standard of living, so you may want to consider applying for Thai Permanent Resident status, which will bring you many advantages, including living permanently in the Kingdom, without the requirement to apply for an extension of stay. Where the applicant has invested in a Limited Company or Public Limited Company, he or she must submit: a certificate of company registration from Ministry of Commerce issued within the previous three months, evidence of Value-Added Tax or Specific Business Tax registration, and copies of the financial balance sheets and corporate income tax returns for the previous three years. Category: Business in Thailand, Immigration. Son Nguyen is an international writer and news commentator specialising in Thai news and current affairs. One of the peculiar aspects of having Thai permanent residence is that while your permission to stay in Thailand never expires – this is only the case if you never leave the Kingdom. Before the permanent resident status is granted, the applicant must have invested at least 10 million baht into the country. The fact is that even if the government can attain its current target for the Special Tourist Visa scheme, it will still see the kingdom losing up to 99% of what the country used to earn from mass foreign tourism, a scenario that some top businesspeople in the kingdom have already warned is economically unsustainable. The Permanent Residence Permit allows you to stay in Thailand permanently without the need for a Visa. The safe countries on the list right now are: On Monday, Danucha Pichayanan who is the Secretary-General of the National Economic and Social Development Council said that simplification of the process was essential to make the scheme a success. It is therefore preferable to obtain a legal residence permit, something that is naturally not that easy if done through official channels. European But Not EU Member States’ Residency by Investment Programs The 90 day Special Tourist Visa allows tourists to be granted a visa provided they satisfy a demanding list of criteria including insurance, medical tests and other requirements including booking and payment for 14 days in the government-run Alternative State Quarantine system. So it is clear, at least in respect of this, that Thai officials are beginning to appreciate the reality of the current economic situation. Thai Permanent Residency is an option after you have been staying in Thailand for a few years. DPM Supattanapong Punmeechaow, who is also Thailand’s Energy Minister, said that a key goal would be to increase the average expenditure of each tourist entering under the Special Tourist Visa from under ฿50,000 seen in 2019, Thailand’s last year of normal foreign tourism, to ฿100,000 right now. Taking part in the Elite Easy Access programme and obtaining an investment visa for 5 years (participation costs — $15,000). All rights reserved. Two Pacific Place Building, 18th Floor, Unit 1806, 142 Sukhumvit Road, Klongtoey, Bangkok 10110 Thailand, freehold, nor sor 3 gor, nor sor 3, possessory right, foreigners in Thailand who wish to apply for permanent residency status, Limited Company or Public Limited Company. A key condition, inserted at the last moment, by the government when it approved the Special Tourist Visa was that only tourists from countries with low infection rates of Covid 19 could apply for the visa facility through Thai embassies and consulates worldwide despite the mandatory quarantine period on arrival. By clicking “Accept”, you consent to the use of ALL the cookies. You can also have your name on a house registration document, and you will be able to buy a condominium without making a bank transfer from abroad. Copyright © 2004 - 2021 Siam Legal International. Residence in Thailand is possible for a few days, months, or an unlimited period within the validity of the chosen package. Applicants must meet the following requirements: Hold a valid passport issued by the country of their current nationality, along with a Thai non-immigrant visa permitting them to stay in the Kingdom for at least three (3) consecutive years. Permanent residency can only be applied for when the foreigner: Has made a significant investment in Thailand; Is an executive officer and a signatory of a Thai business with a capital of at least 10M THB for at least one year. Permanent residence in Thailand with the Thai Elite Visa As previously mentioned, taking chances with visa runs is not a good long-term solution if you want to stay in Thailand forever. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies will be stored in your browser only with your consent. Other legal expertise of the law firm varied in cases involving corporate law such as company registration & Thailand BOI, family law, property law, and private investigation. Elite Ultimate Privilege is a twenty year residence visa for a once off fee of approximately $60,000 plus an annual fee of approximately $600. Thailand may introduce a scheme to grant permanent residency to any foreigner who buys a condo in Thailand debt-free and maintains without borrowing for over five years. At the outset of the scheme, some months ago, Thai officials had suggested that each visitor would generate over ฿830,000, a figure widely dismissed as improbable. There are also income thresholds which must be overcome in or… It comes as the government begins to shift its focus to the economic emergency now facing the kingdom after measures to defend itself against the Covid-19 virus have left the Thai economy decimated and threaten a … Thailand only allows a certain number of applicants from specific countries to obtain the status of Permanent Resident every year. He must have had a work permit for three years and a salary of at least 80,000 THB per month since two years. Filing Your Application File your application with the Ministry of the Interior. Now, it is being reported that the various Thai ministries associated with the Special Tourist Visa are working together to clarify the entry criteria and make the process of obtaining visas easier. The Investment Visa offers the right to live in Thailand to anyone bringing 10 million baht into the country and putting it into the property, government bonds or an account in a Thai bank. A revised quarantine period has been suggested of 10 days. There are several options open to foreigners in Thailand who wish to apply for permanent residency status. Efforts are currently being made to extend the number of hotels participating in the alternative quarantine scheme through what is called the Alternative Local Quarantine Scheme which covers tourist hotspots outside Bangkok such as Pattaya and Phuket, areas hit hardest by the current dearth in foreign tourists. There are a number of considerations to make before committing into purchasing Thailand Real Estate. We also use third-party cookies that help us analyze and understand how you use this website. The Thai government has opened the 2019 round of applications for permanent residency in the Kingdom from 1 st July 2019 until the last business day of the year in December. The first one is based on investment, which consists of two components: presenting proof of investment both before permanent residence is granted and after it is granted. Necessary cookies are absolutely essential for the website to function properly. Last week, a real estate analyst in Bangkok, Wichai Wirat, told the local popular Thai newspaper, the Daily News that there was upwards of ฿1 trillion of unsold or vacant property in Bangkok as the country’s household debt to GDP ratio is predicted to skyrocket to as high as 90% of GDP by the end of the year from a current projection of 84%. Specifically, that amount of money must be invested in one of three targets: (1) a Limited Company or Public Limited Company (2) a bond issued by the government or a state enterprise in which the Ministry of Finance or Bank of Thailand is a guarantor or (3) shares or other instruments in the Thai stock market which has been certified by the Securities and Exchange Commission. It allows a foreigner to live permanently in Thailand, with no requirement to apply for an extension of stay. The visa can be extended for up to 9 months by the holder and is aimed at long-stay tourists to Thailand. In order to apply for a Thai Permanent Residence Visa you must also be able to meet one of the following: Investment category: Have a minimum 3 Million Baht invested in a limited or public company in Thailand, a Thai state-issued security corp, Thai state enterprise’s security corp, or the Thai stock market. Last week, a real estate analyst in Bangkok, Wichai Wirat, told the local popular Thai newspaper, the, The Thai government and the Director of the National, Initially, the staff at the Yaowarat Bangkok gold shop, On Tuesday, the cabinet was presented with a ฿210, On Saturday, the Norwegian Medicine Agency confirmed, New economic strategy appears to be more ‘green’, Bail for the Ko Samui police officer accused of rape, The CoronaVac vaccine will be rolled out in Thailand, Industry leaders now convinced that it will be 2022, A senior police doctor in Bangkok has explained that, The deaths are being linked to a drug cocktail popular, The Chinese vaccine has been confirmed by trials in, Latest gambling bust on a casino located at a high-end, The Chairman of the Thai arm of the joint venture, Exporters warn the government that logistics needed, 41-year-old Apichai Ongwisit, an heir to a property, Sources are pointing out that no decision has yet been, Danucha Pichayanan, the Secretary-General of the, Foreign condo buyers to get permanent residency under debt-free scheme being mooted by officials, Get all our latest stories, follow Thai Examiner on, Thanathorn facing serious Lèse-majesté charges after Facebook broadcast on vaccination strategy, Police have arrested the colourfully dressed gold shop robber who rode off with ฿1.9 million jewelry haul, Bank of Thailand official says reopening to foreign tourism vital to kingdom’s 2021 economic hopes, PM puts brakes on the vaccination rollout with warning that caution is the kingdom’s watchword, BCG economic and social blueprint over the next 5 years unveiled, promises more money for less, Royal Thai Police Sergeant Major arrested on Ko Samui, charged with the rape of female detainee, Top virologist Dr Yong defends the use of the Sinovac vaccine to protect frontline medical staff at high risk, Angry and disillusioned tourism operators in Pattaya call on the governor to close down hotels, National police chief 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Covid-19 virus, Bitkub, Thailand’s online cryptocurrency success story faces scrutiny after SEC action this week, 33 year old dealer behind killer drug cocktail, who shot his girlfriend, arrested and charged by police, Mass tourism to return again in 2021 with 10 million visitors targeted and full insurance cover with arrival levy, Minister rules out easy pass for vaccinated tourists but says vaccine passports are being considered, Commerce Ministry enthusiastic about Brexit for Thai firms with lower tariffs on more Thai products, Baht to strengthen further into 2021 with weak policies in western countries driving money here, Battle against the Covid-19 virus is going well with upbeat Public Health Ministry assessment last Friday, UK travellers welcome as top Thai officials reject calls to restrict entry over ‘Kent’ virus strain in Britain, Thailand faces its darkest hour against Covid-19 virus as vaccinations due to begin in March, D-Day for Trump supporters in DC with many here in Thailand who question the US election result, King tells people to rely on their own culture to bring about strength and security for the New Year in Thailand, Strict entry criteria to remain as officials await clarity on the medical status of vaccinated people, Ministers hoping the kingdom can come through 2nd virus wave with minimal economic damage, Thailand raises the white flag on foreign tourism for now as the world fights against the Covid-19 virus, Thailand to launch a moon space programme to boost efforts to become a high-income economy, Thailand urged to get on the ball as the full Brexit gets the green light with Christmas Eve trade pact, Covid lockdown would set back economic recovery efforts and long term goals warns the World Bank, Prime Minister warns employers and bent officials over illegal migrant workers but calls for calm for now, Illegal Chinese fraudsters use fake banking app to steal millions of baht from gulled online SCB users, Top officials urge speedy end to Ko Pha Ngan expat’s appeal to stay in Thailand after dive video outrage, Plan to allow high tech and skilled foreigners to live and work in Thailand for up to four years. 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