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Answered3 years ago

What types of visas can I apply for if I want to invest in a stalled property project in Chiang Mai?

Farrell **********
asked Jan 13, 2024
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Hello, My girlfriend and I have arrived in Chiang Mai to check out a building project her father started but ran out of money near completion, approx 45 million baht was put into it. It’s been sitting in the hills for 15 years and now we want to take on the project and I have been made power of attorney and have teh chanote deed. We need advice on what type of visas could we possibly be eligible for and considering the substantial amount invested already by the company does that allow for us to maybe be open any type of investors visa? Thank you all for any help, much appreciated.
Answer summary
A user inquires about potential visa options for taking over a stalled building project in Chiang Mai, Thailand. The project has seen significant financial investment but requires new input to qualify for visas. Comments from the community emphasize the necessity of obtaining legal counsel due to complexities involving the investment and the property, including the importance of BOI approval for investor visas. Multiple users share advice on consulting with lawyers and caution against proceeding without proper legal support.
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Diedy **********
Diedy **********
Record every minute of every meeting on video.
Bob ********
Bob ********
My concerns as farang married for 50+ years, make sure you have registered mortgages going forward. Always have a 3rd party interpreter at any business dealings, make sure all relevant permits are in place, right down to the local village headman. Check for outstanding loans, both registered and not.
Elise *****************
Elise *****************
Thanks for the update.
Joe ******
Joe ******
Tom hanks.

Money pit

Rings a bell.
Harris **********
Harris **********
All I can say is I wish I had your balls 🙂 and Lawyer up your going to need one.
Ilia ***************
Ilia ***************
Would love to see pictures of the project... doesn't answer your question, but I'm curious.
Nick *******
Nick *******
You are taking on such a large project & you don't even know what visa you require. Ever heard of lawyers?
Chris *******
Chris *******
I recently explored around a stalled project along the Chiang Rai road on the hot springs area. It was intended to be in the Khmer or Cambodian style and even though abandoned for a long time, still has strong foundations to continue on. Notwithstanding the anomalous style in Lanna cultural country, it seemed a shame that it didn't get finished and if finished well could definitely be a very good project.

I have no advice to offer and I'm only making an outsider's comment, but if this was to be your project AND if you were able to enlist the help of an honest lawyer, and if the project was allowed, I would say good luck and go for it! Looked like a very good concept from a casual observation. It's certainly in a very good position 😊
Mårten ********
Mårten ********
@Chris ******
If I recall correcrly was developed by a Japanese investor, intended to be an Onsen type spa and there has been very drawn out legal disputes regarding that place.
Chris *******
Chris *******
@Mårten *******
ahhh thanks ... interesting ... I couldn't find out any detail when I looked at it. Thanks for that 🙏
John *********
John *********
@Chris ******
Ah so that's what that place is. Thought it was ancient until went for a poke around :-)
Chris *******
Chris *******
@John ********
yes mate, a lot of planning and work gone begging 😊
Joseph *********
Joseph *********
Hey.. my friend is a lawyer. He speaks perfect English. His dad owns a few hotels in Bangkok. DM me if you want his details. Solid guy, very trustworthy
Guy ******
Guy ******
Marry her if she’s Thai. Stop dragging your foot
Frank **********
Frank **********
You better make sure that property is free and clear of any obligations, such as taxes, outstanding loans or liens.
Robert ********
Robert ********
I find this topic interesting. Understand that you're looking for positive advice and direction. That being said my advice will appear to be negative but is actually offered in a positive viewpoint. And that is not to sink any money into this at all. If you'd like to talk about it you can certainly send me a private message
Brandon *********
Brandon *********
First time doing business in Thailand I see. Best to fill it with concrete and build something new. Almost certainly will cost you more to try to fix the skeleton
Steve *******
Steve *******
Ancient wisdom. When you’re in a hole, stop digging.
Farrell **********
Farrell **********
OP
Thank you all for your advise, we are in contact with lawyers but please keep any suggestions and thoughts coming.
Annie **********
Annie **********
@Farrell *********
, I’d strongly advise you to take proper legal advice from a Thailand lawyer specialising in such a matter. Good luck.
Farrell **********
Farrell **********
OP
@Annie *********
any suggestions of lawyers you have used?
Annie **********
Annie **********
@Farrell *********
I’m sorry, not in Chiang mai.
Roger **********
Roger **********
Mate, get a property lawyer and he’ll walk you through it.
Annie **********
Annie **********
@Roger *********
totally agree! There’s a lot at stake here and Farrell Stafford needs proper legal advice.
Garrett ***********
Garrett ***********
The housing development that encroached on doi Suthep national forest and was ordered stopped by the supreme court?
Steve *******
Steve *******
personally i think you would be crazy to move fwd without legal representation - allot of things you are not aware of and they would be. You, and likely I, would be taken advantage of... so it's probably worth the sit down for 1 hr to discuss. He was American but now is Thai national.
Steve *******
Steve *******
contact a lawyer -
***********************************************
this guy knows his stuff and is part of a firm.
Brandon ************
Brandon ************
The BOI would need to approve the investment for it to qualify for a visa. They're not going to approve something that's already been done as the point of the visa is to bring new money into Thailand.
Steve *******
Steve *******
@Brandon ***********
well he has to have additional funds to complete a project that faltered. So...
Brandon ************
Brandon ************
@Steve ******
they asked about the amount already invested. That's not a factor.
Steve *******
Steve *******
@Brandon ***********
OK I am definitely not in the know here - so I am only saying what I would do really... maybe they already know what you are saying is the correct path.
Brandon ************
Brandon ************
@Steve ******
a lawyer wouldn't do anything. The BOI decides what qualifies and what doesn't. They run the investment visa program. The op just needs to get in contact with them.
Steve *******
Steve *******
@Brandon ***********
likely you are correct regarding his ability to procure a visa based on those funds...but he has to have additional funds to complete the project dormant for 15 years... those are the funds I am "thinking" might allow him to move forward with his plans. Legal assistance will help him determine if they are enough or not. That's just my opinion and I am not a lawyer nor a doctor nor a rocket scientist...just a regular old guy who has seen allot.

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