Eligibility To Become A Thai Resident


Posted October 10, 2021 by kiresidencesofficial

Ki Residences is a new launch 999- years leasehold condo along Brookvale Drive in Clementi. It is developed by Hoi Hup Sunway Clementi Pte Ltd, a joint-venture by Hoi Hup Realty and Sunway Group.
 
Generally, there are two (2) types of Foreigners that qualify for Thai Residency status and these can be defined as:-
(i) Annual Quota Immigrants; and,
(ii) Non-Quota Immigrants.

Annual Quota Immigrants
Foreigners granted approval from the Immigration Committee and Minister of the Interior under Section 40 of the Immigration Act B.E. 2522 ("the Act") are permitted to become residents of Thailand. The Ministry of Interior with the approval of Cabinet, are empowered to publish in the Government Gazette the annual immigrant quota. This is normally published in December each year.

Non-Quota Immigrants
Aliens may be permitted to enter and stay in Thailand under special circumstances as stipulated in Sections 17 and 43 of the Act contrary to Section 40 of the Act provided that such aliens bring in foreign exchange for investment and they are accepted.

Resident Permit: Advantages
• Eligibility to stay in Thailand permanently without extension of visas.
• Eligibility to acquire a condominium without having to remit funds from abroad.
• Eligibility to have name listed in the House Registration Book.
• Eligibility to apply for naturalization as a Thai (citizenship) upon completion of all requirements.
• Eligibility to be a director of a public limited company even if this results in a majority of the directors being Non Thai.
• Work permits are easier to obtain.
• Easier access to borrow funds from Thai or Foreign Banks to purchase property in Thailand.

How to apply for Resident Permit - The Process
Foreigners applying for resident permits in accordance with the annual quota basis, subject to Section 40, should note that the annual quota granted is a maximum of 100 persons per country (nationality) per annum.

To apply under Section 40, an alien must:-
1. Currently hold a passport of his/her nationality with a non-immigrant visa type that allows him/her to stay in

Thailand on the basis of a one year visa extension for a total of at least 3 years up to the submission date at submission of the application.
2. Not be a person who is prohibited under the Act. With reference to Section 44, the following aliens are prohibited to obtain a resident permit: -
2.1 Persons who have been sentenced to imprisonment by judgement or justifiable legal order of a Thai Court or a Court of another jurisdiction except for minor offences, an offence committed through negligence, or other offences as stipulated in the Ministerial Regulations.
2.2 A person who has a mental deficiency, physical infirmity or a disease as prescribed by Ministerial Regulations.

Application Categories
To apply for a resident permit under Section 40 of the Act, an alien may apply under the following categories:-
- Investment;
- Working Business;
- Humanity Reasons; and,
- Expert. Know more Ki Residences Brochure https://kiresidencesofficial.sg/


Special Procedures for Investors who wish to become Thai residents
Subject to Section 43, a resident permit may be granted to a person who remits 10 million THB or more from abroad for investment, provided that the number of applicants successfully applying in this category do not exceed 5% of the annual quota number announced. Documents evidencing his/her financial status must be provided. In addition, aliens granted resident permits under this scheme, must maintain their investment for at least three years after their resident permits are granted. We understand that this category is currently under suspension and will provide an update when we obtain further clarification.
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Issued By Ki Residences Showflat
Country Bangladesh
Categories Business
Tags ki residences showflat
Last Updated October 10, 2021