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Buying a Thai condo could secure your permanent residency here. Maybe!

Started by thaiga, September 24, 2020, 02:55:50 PM

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thaiga

An interesting article from pattayamail.com about securing visas, what was/is the best route to go and whats on offer or off

Buying a Thai condo could secure your permanent residency here. Maybe!
The Thai property market blinked this week after the newly-established government committee, Centre for Economic Situation Administration (CESA), announced that purchasing a condominium unit in your own name could secure that much-vaunted prize – permanent residency.  CESA was set up by prime minister Prayut Chan-ocha last month to steer the country economically through the coronavirus pandemic.  It's serious stuff.

Permanent residents are a privileged group of foreigners who have no final date in their passport by which they must leave the country or apply for an extension of stay.  They are not be confused with holders of long-term visas such as Elite cards , work permits or one year renewable permits for retirees, students and those with Thai wives or dependants.  Permanent residency is discretionary, subject to numerical limits and is usually reserved for those with a good track-record in Thailand of working diligently and/or having contributed significantly to the welfare of Thai people as a whole.  No more hassle with the immigration bureau is seen as a principal plus and no more 90 days reporting.  Hurrah!

However, it would be wise to pause a moment before you rush off to buy a condo or even present the paperwork of a previous purchase and expect to receive your red police book certifying permanent residency by return of post.  It doesn't work like that.  Firstly, the CESA announcement is "in principle" not a done-deal.  Moreover, the same promise has been made before but wasn't delivered.  30 years ago, when foreign ownership of condominium units was first allowed, the suggestion of "no further need of visas" was raised and then forgotten.  Instead, the one year retirement extension of stay was soon introduced as a much-weaker alternative.

Another later move in 2014 was the .... full article link above
Anyone who goes to a psychiatrist should have his head examined.

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