In late 2025, Thailand introduced a new 3-million-baht Investment Visa. Technically this is not a visa in a traditional sense (i.e. a visa is an approval to enter the country). However, for ease of reference, we will refer to it as a visa. This visa is designated as an Investment-Based Extension of Stay and it is classified under the Non-Immigrant ‘B’ (Investment) category. This is an “easier” version of the Long-Term Resident Visa for Wealthy Global Individuals. I had earlier written an article providing an overview of the various visas available to foreigners. That article was posted in 2024 and hence did not include this new 3-million-baht Investment Visa.

 

So what is this new 3-million-baht Investment Visa?

It is an extension of stay granted one year at a time and is renewable annually. As this is an extension of stay based on investment, it is designed strictly for the holder to reside in Thailand. It does not grant the holder the right to cork or conduct commercial activities in Thailand.

 

What law provides for this visa?

Two statutes/ orders provide for this visa. Namely:

a. the Immigration Bureau Order No. 237/2568; and

b. the Immigration Bureau Order No. 238/2568.

The latter order provides for the 12-month extension and lays out the eligibility criteria, the required 3-million-baht investment threshold and the document requirements.

 

When did this visa start?

The immigration orders came into force on 1 October 2025.

 

Are there any ambiguities?

To date, the freehold condominium purchase route is well understood and in force. However, as of the time of writing, the authorities are still clarifying the requirements for leasehold and rental pathways for the visa.

 

Do you need an agent to apply for this visa?

No. You do not need an agent to apply for this visa. There are many companies online who tout their services as “agents” for the visa. However, anyone is permitted to apply for this on their own. The possible benefit of engaging such an “agent” would be that they would be more familiar with the process and perhaps some documents may be better understood in Thai. Hence if you do not understand Thai, you may benefit from such a service.

The market is currently flooded with “agents” charging high “membership” or “service” fees. These fees may come with some additional perks like airport pickups. However, there is no requirement to use an agency to apply for this visa. The process primarily requires you to obtain a Certification Letter verifying your investment, which is administered through Thailand Longstay Service Co., Ltd. under the Ministry of Tourism and Sports. Once you have this Certification Letter, together with the relevant bank and property documents (like the Foreign Exchange Transaction (FET) Form showing funds came from overseas, and the property title deed in your name), you can process the paperwork independently.

Some Thai property agencies or developers may assist their buyers in applying for the 3-million-baht Investment Visa. If you are buying or bought a property through a Thai property agency or Thai developer, you may check with your sales agent if they do provide such a service.

A word of caution when you see “agents” promising guaranteed immediate results or trying to sell you fast track packages using loopholes. These are not advised and to date, I cannot find any “agent” who can fast track the application process. The fastest way to apply would be to have all documents ready and respond promptly when the authorities reach out to you for clarification. There are also “agents” who can claim to be able to obtain an FET Form without the need for funds to come from overseas. This is not legal. Moreover, you would not want to jeopardise your application by submitting something an untruth.

 

The application procedure

Please note that there may be some changes in the future. This is accurate as of the day of posting. The application is

 

Step 1: Property purchase and Thai ownership compliance

Finalise the purchase of your freehold condominium worth at least THB 3,000,000. The funds must be transferred from overseas. You will also need to verify that your ownership of the property is compliant (i.e. within the foreign quota limits).

 

Step 2: Obtain Certification Letter from Ministry of Tourism and Sports

This is done by submitting the property documents, bank forms and a copy of your passport to Thailand Longstay Service Co., Ltd (TLS). There is a one-time membership fee of THB 4,000 and an annual service fee of THB 27,000. They will obtain the Certification Letter from the Ministry of Tourism and Sports on your behalf.

 

Step 3: Obtain the 90-day visa

With the Certification Letter, you can obtain an initial 90-day Non-Immigrant ‘B’ (Investment) permit from the designated immigration office.

 

Step 4: Obtain the 12-month extension

Before the expiry of the 90-day permit, you will need to return to immigration to file for the full 12-month extension (this will be facilitated by TLS). This extension is renewable as long as the property is maintained under your name.

 

Documents required

 

Personal Documents:

Completed TLS operator application and visa support forms.

Full passport scan (every single page, including blanks). The passport must have at least 6 months of validity remaining.

Passport-format photos.

If applying for dependents later: Marriage and/or birth certificates (must be translated into Thai and legalised or certified by the Ministry of Foreign Affairs or your embassy).

 

Property and Financial Documents:

Foreign Exchange Transaction Form (FET Form): Issued by a Thai bank, proving the THB 3,000,000 was transferred from a foreign source in a foreign currency specifically for purchasing real estate.

Sale and Purchase Agreement

Chanote Title Deed: Must be registered in your name at the Land Office. (For Bangkok properties, the transfer must have been registered on or after October 1, 2020).

House Registration (Tabien Baan): The yellow or blue residency book for the property.

Land Office Transfer Receipt: The official government receipt showing property transfer fees were paid.

Occupancy Verification Photos: Three specific photos of you at the property:

Standing in front of the building façade (with the building name clearly visible).

Standing at the unit entrance (with the room number legible).

Standing inside the living area of the unit.

Seller’s Documents:

If buying from a Thai individual: A copy of their Thai ID card and their house registration.

If buying from a developer or company: Current company registration documents and the shareholder list (BOJ5 form) proving the company is majority Thai-owned (over 50%).

 

Timelines to take note of:

TLS Verification Processing (Step 2): Takes approximately 7 to 10 business days.

The “15-21 Day Rule”: When you go to Immigration for your initial 90-day permit (Step 3), you must have at least 15 to 21 days of permitted stay remaining on your current tourist visa or visa exemption. If you have less than that, Immigration will likely reject the application and force you to do a border run to get a fresh entry stamp.

When to Start the Process: Because TLS takes up to two weeks to issue the Ministry Certification, applicants should initiate the TLS submission at least 30 to 45 days before their current Thai visa expires.

Visa Issuance: The 90-day permit is usually issued on the same day as your Immigration appointment. The 12-month extension processing time varies by the specific immigration office but is finalised within the initial 90-day window.

 

Summary of the 3-million-baht Investment Visa

The target audience is foreigners looking for a long-term, renewable residency option by purchasing a condominium worth at least THB 3,000,000. The condominium must be a freehold condominium and the money must be transferred from overseas in a foreign currency. The Thai bank must issue a FET Form. The condominium must be completed as only when a condominium is completed, will you obtain a title deed with your name on it. Before a condominium is completed in Thailand, the buyer will only have a beneficial interest in the future unit. There is no title deed with the buyer’s name on it. As this is one of the documents required for the application of this visa, the condominium you are using for the application needs to be a completed condominium.

 

The advanced option would be…

The Long Term Resident Visa under the Wealthy Global Individual option. Please see my previous article for details.

In a nutshell, to qualify as a Wealthy Global Individual, you must:

  • Have assets of at least USD 1 million
  • Have an annual income of at least USD 80,000 for the past 2 years
  • Make an investment of at least USD 500,000 in Thai government bonds or Thai property or a combination of both

 

The main benefits of this Long Term Resident Visa over the 3-million-baht Investment Visa are:

  1. 10 year validity
  2. Reduced reporting (annual reporting vs 90-day reporting)
  3. Tax benefits in the form of exemption on foreign-sourced income

 

Please note that these procedures and guidelines may change. It is important to check with the relevant authorities at the point of application for the latest procedures and guidelines.

 

Yours sincerely,

Daryl