Advice for possible long stay

[Guest]

PSILVERS here...

 

I have been thinking about taking a break from my career and spending a year or 2 living in Thailand. I have been planning on buying a relatively cheap condo (about 2 million baht) and just relaxing.

 

The problem now seems to be how to obtain a visa to do this. I will not have substantial income, but have what I think is enough to live for a while. I do not really want to have to make visa runs.

 

I am not old enough to consider the retirement visa approach and I didn't really want to invest a lot more baht. Also, can I simply show my assets in the United States to qualify or is it necessary to transfer substantial sums to a bank in Thailand?

 

Any advice would be greatly appreciated. I don't want to start the process to relocate if it will be impossible to succeed.

 

Thanks.

 

PSILVERS

[StoneSoup]

One approach would be to form a Thai company, with the business of that company being property management. Have the company buy the property, then rent the property to you. You can be employed as Managing Director of the company, drawing a qualifying salary to obtain a work permit.

 

You would have to come up with four Thai employees to justify the work permit - maybe a translator, maid, courier, and secretary. If you can come up with four cooperative Thais to lend you their identities, you don't really have to pay them- just pay their monthly social fund contributions -8% of a 6,000 baht monthly salary each - or 1,920 baht per month.

 

The downsides to this approach are that you will be paying Thai taxes on your salary which is really coming out of your own capitalization investment. And you will have the expense of starting a company - assume all-in costs of about 75,000 baht during the first year (includes work permit and extended entry permit, and end of first year financial audit).

 

My company can assist, if this approach is taken - see www.indo-siam.com.

 

Of course - you may be able to simply get a one year multiple-entry class B visa in home country (saying that you are planning the above approach), come here and buy a condo, and then just make visa runs every 90 days. After one year, you have to get another visa - which may be tougher.

 

Good luck!

StoneSoup

[Guest]

 

I know a couple people who got a visa for business adventure

from a small guest house that had a couple thai waiters in it. Only took a letter from the owner with supporting company documents.

do not remember if it was 6 month or 1 year visa. Not sure how much they had to show they had in cash also. They did it from a overseas embassy. I have read they were going to go after the start up companies that were just a shell to buy property or get a visa earlier this year in the pattaya mail newspaper. You do not need a company to buy a condo as this can be done on your own, just get a lawyer to insure you are not being ripped off.