3m Baht Investment Visa Not Fully Grandfathered

September 20, 2007

Thaivisa.com has sent an e-mail regarding:

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...

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

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