Thailand Offers Long-Term Visas for Homebuyers for up to 10 years

At present, Thailand’s Visa on Arrival and Tourist Visas offer a maximum validity of 60-days with the possibility to extend for an additional 30-days. While this may be ideal for holidaymakers, a common question from homebuyers and real estate investors: Can I get a long-term visa or permanent residence if I buy condo in Thailand?

The Thai Cabinet recently approved visa changes intended to attract foreigners looking to buy or invest in the country. Also ideal for those looking to retire, remote workers and skilled professionals.

The purpose is to increase investment in the country and boost the economy.

The Interior Ministry proposals provide for long-term residence (LTR) visas, each for up to four family members including children up to 20 years old. The Board of Investment will set the qualifications of the applicants.

The visas will be valid for five years and renewable for up to five years. The total validity period is capped at 10 years. Once granted the certificate, foreign nationals can then apply for the long-term residence visa for both themselves and their spouse. The visa costs 10,000 baht per year, per person and holders will still need to report their residence to the authorities – but only once a year, instead of every 90 days.

After receiving the visa, the foreigners can apply for work permits. They can request a change in the type of visa afterwards, in compliance with the rules of the Immigration Bureau. It will allow foreigners to start working right away after filing their work permit requests, without having to wait for their work permits.

If they have employers, their work permits will be valid as long as their employment contracts last, but not more than five years. The work permits can be extended to meet their employment contracts, for up to five years at a time.

Foreigners who have their own business can seek work permits for up to five years and the permits can be renewed for up to five years each time.

The new visa regulations need to be formally announced by the two cabinet ministers. The prime minister wanted that to be soon.

GLOBAL TOP GROUP offers home buyers and investors free advice and consultation on how to get Long-Term Visas if they purchase in any of the top and luxurious condominium projects they have on offer.

GLOBAL TOP GROUP is now offering exceptional rates and low-down payment schemes with their brand-new condo projects! We even have specialized condo loans available for Thai and Foreigners to get you into the condo of your dreams.

Please call GTG hotline +66 (0) 907417417. Or please visit our website at globaltopgroup.com.