Foreigners' abilities to invest and run a company are strictly regulated under Thai law. However, with the permanent residency status, several of those restrictions can be avoided.
why is it might be interesting for you to apply?
It allows you to live permanently in Thailand, therefore with no requirement to prepare for and apply for an extension of visa every year anymore.
As a Permanent resident, you will be able to have your name on a house registration book (called the Tabien Baan) or register any property you may have in Thailand under your own name.
Regarding the purchasing of a condominium, it won’t be required for you to transfer the fund from an oversea bank. Furthermore, it might ease the process to get a work permit.
As a permanent resident, you will be allowed to become a director of a Thai public company
Your family can benefit from your status because your non-Thai family members will be able to apply for an extension of stay and the permanent resident status. Also, your children born in Thailand can be granted Thai nationally.
Can you apply?
With such benefits, conditions are quite restrictive:
To apply for the Thai permanent residency card:
· You must have been on a non-immigrant visa for at least 3 years on the same type of visa during this entire period,
· While you are submitting documents, you still must beholder of such a non-immigrant visa.
· You must be able to meet one of these categories to apply for PR status in Thailand:
1) Investment Category:
Have a minimum of 3 million THB invested in a limited company in Thailand
2) Business category:
To have been an executive officer and a signatory of a business registered in Thailand with a capital of at least 10 million THB for at least 1 year, and have earned at least 50,000 THB per month for two consecutive years prior to submitting the application. This work must also be deemed as in an area of interest to the Thai economy
3) Employment Category:
· 1) Have earned at least 80,000 THB/ month for two consecutive years or filled a tax return for an or, 40,000 THB if married with a Thai national or annual income
2) 100,000 THB or more for two consecutive years
· Having held a work permit for at least three consecutive years
· Being employed in your current company for at least 1 year.
· Ability to communicate in the Thai language both written and spoken
4) Humanity category: Support a family or Humanity Reasons category: In this category, you must have a relationship with a Thai citizen or an alien who already possess a residence permit as a husband or wife; father or mother; or a guardian of a Thai child under 20 years of age.
5) Expert / academic category: Hold a Bachelor's Degree or higher education and work in a role that requires working in Thailand for three consecutive years.
Remark: Once you meet all the requirements, the process starts, an interview, in the Thai language will be conducted at the Thai Immigration office. During the interview, the applicant will be asked personal questions regarding its income and assets, his particular knowledge or vocational ability, his family’s status, and all other subjects that might interest the Thai national securities, a criminal record will be checked.
Note: there is a quota system that limits the number of applicants each year. The numbers will be set by the Thai immigration bureau. Currently, applications are limited to 100 people, per country.
The process can take more than one year, the application fee is 7,600 THB per applicant, not refundable in any case.
This article is a general briefing note which does not replace the advice for any individual situation, the firm shall not be rendered liable for its content.