Answered7 years ago
Does owning a condo in Thailand eliminate the need for financial requirements like 800,000 Baht or 65,000 Baht monthly for visa extensions?
Does owning a condo / property, eliminate the necessity of having 800kBt or 65k transfer to account, or must one have either one as well? Thanks
Answer summary
Owning a condo or property in Thailand does not exempt one from the financial requirements needed for visa extensions, such as maintaining 800,000 Baht in a Thai bank account or a monthly income of 65,000 Baht. The consensus among community members indicates that while property ownership is beneficial, it does not contribute to fulfilling the immigration financial criteria. You must keep the required amount in the bank consistently to meet the immigration rules.
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Tod *********
and on that note I think the O/P knows their choices. :O
Stuart **********
You'll need 10 million baht invested in a qualifying condo development. You can then apply for an investment visa as opposed to a retirement visa which would negate the need for the 65k/month or 800k in the bank. You'll need to show that the 10 million was brought into Thailand from abroad
Mike ********
As mentioned, your balance can't drop below 400K.
John **********
OPOk. Thanks. I understand about having 800k before and after extension. I did think I saw somewhere about owning a property was all that was needed. Must have been mistaken. Thanks again for the confirmation.
Robert *******
Trying to make this clear: You are free to do with your money as you like. BUT if you like to stay longer inside Thailand and going to visit the Immigration Office for an Extension of Stay based on being over 50 years of age you need a minimum of 800.000 Thb at least 2 months prior that visit till at least 3 months after this visit and the rest of the year not less than 400.000 Thb on your Thai bank account. That you own a condo is no value for Immigration.
Daniel ************
if its 10 mio - yes - then you can make investor visa - otherwise - no
John **********
OPOk. Thanks
Kevin *********
No
John **********
OPThe only permanent thing is Thailand is "Change"😀
Kevin *********
John Anderson now Immigration in Jomtien has told me a few thing's that was wrong or it changed upon who you ask there. Either way, good luck.
John **********
OPOk. Thanks. I will keep the funds in the bank and buy a condo.
Kevin *********
That is what immigration told me in Jomtien. Cash in bank.
Kevin *********
@John *********
owning a condo has nothing to do with it. You have to have the funds in the bank.John **********
OP@Kevin ********
"No", meaning no I don't need to, no I can't do it.?John **********
OPI already have a Non. O and 800 in bank. Just wondering if I must keep the required amount in the bank while owning a condo.
Marty *********
@John *********
Robert Lagas answered this. Your ownership of a condo does not count toward meeting the financial requirements for a one year extension.
Martin ***********
Yup you need money to meet immigration requirements 65k / month or 800,000b in a Thai bank 2 months before & 3 months after yearly application plus your balance can not fall below 400,000b
Jason ***********
Owning anything is irrelevant in Thailand.
Robert *******
I guess you ask this to apply for an Extension of Stay based on being over 50 years of age. NO, you need to meet the financial requirements, property, cars etc are not counted forward.
James **************
You still need money in the bank
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