Can I Buy a Property and Get a Thailand Long Stay Visa?

If you have ever considered trading the daily grind for the tropical lifestyle of Thailand, the 3 Million Baht Investment Visa launched in October 2025 might be your golden ticket. Officially operating under recent updates (Immigration Orders 237/2568 and 238/2568), this pathway allows foreign nationals to secure a long-term residency extension simply by investing in Thai real estate.

Top Perks of the 3 Million Baht Investment Visa

Why are so many smart investors choosing this route to stay in Thailand? The benefits go far beyond just owning a slice of paradise.

• Long-Term, Renewable Stay: The visa grants you a one-year permission to stay (categorized under a Non-Immigrant ‘B’ extension). As long as you maintain ownership of the property, you can renew this visa annually.
• No Age Restrictions: Unlike the popular Thai Retirement Visa, which strictly requires applicants to be 50 years or older, the 3M Investment Visa is open to adults of any age.
• Say Goodbye to Visa Runs: You no longer need to worry about border bounces, tourist visa limits, or complex immigration maneuvers. This provides a stable, legal foundation for living in Thailand.
• Include Your Family: Once the principal applicant’s 12-month extension is approved, you can bring eligible dependents. This includes your legally married spouse, unmarried children under 20, and biological parents aged 50 or older.
• Asset Appreciation: Instead of sinking money into non-refundable government fees (like the Thai Elite Visa program), your 3 million THB is injected into a tangible asset—a freehold condominium—that you can live in or use to generate passive rental income.

Mandatory Conditions & Requirements

Securing the Thailand residence visa by investment is a document-heavy process. Immigration authorities are strict, and a single misstep in how you purchase the property can disqualify your application.

Here are the strict conditions you must meet:

1. The 3 Million Baht Threshold & Property Type

To qualify via the primary route, you must purchase a foreign freehold condominium with a declared purchase price of at least 3,000,000 THB (approximately $85,000 USD).

• Completed Units Only: Off-plan or under-construction condos do not qualify. The building must be finished, and the unit must be ready to transfer at the Land Office.
• Seller Eligibility: You must purchase from a Thai individual or a Thai-majority juristic person (a company with no more than 49% foreign ownership). Buying a second-hand condo from another foreigner generally will not qualify you for this specific visa pathway.
• Ownership: The title deed (Chanote) must be registered entirely in your name under the foreign ownership quota.

2. The Golden Rule: Foreign Exchange Transfers

This is where many buyers fail. Your 3 million THB cannot come from a local Thai bank account, crypto wallet, or money earned while working in Thailand.

• The funds must be transferred into Thailand from an overseas bank account in a foreign currency.
• The receiving Thai bank will convert the funds into Baht and issue a Foreign Exchange Transaction Form (FETF). You absolutely must have this document to prove the investment originated from abroad.

Read our guide to tranfer funds from abroad

3. Ministry of Tourism Certification

Under the new framework, you cannot just walk into Immigration with a title deed. You must first obtain a Certification Letter from the Ministry of Tourism and Sports (processed via the Thailand Longstay Company). This letter confirms your status as a “long-stay tourism supporter” and is mandatory to access the lower 3M THB threshold instead of the standard 10M THB one.

4. No Employment Allowed

It is critical to understand that this is a passive stay visa. The 3M Property Visa does not authorize employment or commercial activities in Thailand. If you intend to work locally, you will need a standard Non-Immigrant B visa with a Work Permit or a specialized LTR/Smart Visa.

Alternative Property Routes (Leasehold & Rental)

While the freehold condominium purchase is the most popular and straightforward path, recent legislation has opened up two alternative property-based routes for the investment visa:

1. Registered Long-Term Leasehold: If you prefer a villa or a property where foreign freehold is impossible, you can register a long-term lease (exceeding 3 years) at the Land Office. The total lease value must be at least 3,060,000 THB.
2. High-Value Residential Rental: You can also qualify by renting a luxury property. The rental agreement must be at least 85,000 THB per month. (Note: This requires heavy upfront payments and strict landlord verification).

The 4-Step Application Process

If you are ready to buy a condo and qualify for the visa, here is what the timeline looks like:

1. Secure the Property & Transfer Funds: Work with a reputable real estate agent and lawyer to ensure the condo meets the criteria. Transfer the funds from abroad, secure the FET form, and complete the transfer at the Land Office.
2. Ministry Certification (Pre-Approval): Submit your property documents, FET form, and passport details to the Ministry of Tourism and Sports to get your mandatory Certification Letter.
3. Phase 1 (The 90-Day Permit): Take your certification letter and original property documents to the Immigration Bureau. You will be granted an initial 90-day Non-Immigrant ‘B’ (Investment) visa.
4. Phase 2 (The 12-Month Extension): Before the 90 days expire, you will return to Immigration to finalize administrative approval and receive your full 1-year renewable extension. (Dependent applications can be filed after this step).

Summary

The Thai 3 Million Baht Investment Visa is one of the most accessible “Golden Visa” equivalents in Southeast Asia. By navigating the strict foreign exchange rules and ensuring your condo purchase meets all government criteria, you can secure an appreciating asset and a long-term home in Thailand. Because the process is entirely document-driven, it is highly recommended to consult with a local property lawyer before signing any real estate contracts or transferring funds.

Frequently Asked Questions (FAQ)

Can I work in Thailand on the 3M Property Visa?

No. The 3 Million Baht Investment Visa is strictly a passive stay visa. It does not grant you a work permit, nor does it allow you to legally seek employment or run a business in Thailand. If your goal is to work locally or operate a company, you will need to apply for a standard Non-Immigrant B Visa with a work permit, or look into the Long-Term Resident (LTR) Visa.

Do I get Permanent Residency (PR) after buying the condo?

Owning property in Thailand does not automatically grant you Permanent Residency (PR) or a path to Thai citizenship. However, the 3M Investment Visa serves as a long-term solution because it can be renewed annually indefinitely, provided you still own the qualifying property.

What happens if I decide to sell my condominium?

Your visa status is inextricably tied to your asset. If you sell the condo or transfer the title deed out of your name, you immediately lose your eligibility for the visa. Your current extension of stay will become invalid, and you will need to secure a different visa to remain in the country.

Can I buy a second-hand condo from another foreigner to qualify?

Generally, no. Immigration rules stipulate that the funds must stimulate the Thai economy directly. Therefore, you must purchase the property from a Thai citizen or a Thai-majority juristic person (a company with more than 50% Thai shareholding). Buying a resale unit from another foreign national typically disqualifies you from this specific visa track.

Can my spouse and I pool our money to buy one 3M THB condo?

If you buy a condo jointly, the property’s declared value must cover 3 million THB per applicant if you both want primary investment visas (i.e., a 6 million THB condo).

• The Smarter Route: It is much easier for one spouse to purchase a 3 million THB condo solely in their name as the primary applicant. Once their 12-month visa is approved, the other spouse can simply apply for a dependent visa.

Do off-plan or under-construction properties qualify?

No. You cannot apply for the visa using a sales contract for an off-plan project. The building must be 100% completed, and you must possess the official title deed (Chanote) registered in your name at the Land Office before you can submit your visa application.

Am I allowed to rent out the condo?

Yes. You are absolutely allowed to rent out your freehold condominium to generate passive income. Just keep in mind that earning rental income makes you subject to Thai personal income tax, so you will need to file an annual tax return for those earnings.