We explain if it's better to rent or buy a property in Thailand, and owning a villa in Thailand
Are you dreaming of moving to Thailand? It’s to your advantage, but if it’s your first time coming for a long stay, renting is the easiest way to get used to the country. By renting a property, you will avoid many restrictive procedures which can sometimes be lengthy.
Is Thailand property a good investment? There are a number of good reasons to invest in Thailand property. The country has shown strong and steady growth in recent years and it looks like it will continue that trend. House and land prices are generally on the rise, as are rents, and this presents some interesting property investment opportunities in the market.
A 30 square meter studio room in Bangkok costs around 12,000 baht to 15,000 baht per month in expat residential areas such as Onnut. In business areas like Asok or Silom, prices can go up to 24,000 baht. In Chiang Mai, a condo unit of the same size can cost you only around 10,000 baht per month even in the capital city area.
You should plan to live in Thailand on a budget of at least $1,500 per month, with $2,000 being a more reasonable benchmark. This will allow you to live comfortably without breaking the bank. It’s possible you could live much cheaper, as low as $1,000 a month, but you’d probably have a hard time.
Under the right circumstances, buying a condo in Thailand can be a worthwhile purchase and a good investment. If you are a foreigner interested in buying a condo in Thailand, there are several issues you must be aware of. Thai law only allows foreigners to buy condos in certain circumstances.
Given restrictions on land ownership, foreigners cannot own a villa outright, instead they must purchase a leasehold agreement. In general, this process is straightforward and you should expect to be offered a 30-year lease on any villa or home, which is the longest period for any leasehold in Thailand.
A short-term extension of up to 30 days is typically granted for tourist or non-immigrant visas, while if you need to extend your stay longer, on a non-immigrant visa it is possible to apply for a stay extended for one year, for the following purposes: Business or Education.
How long can tourists live in Thailand? However, the permitted length of stay is up to 60 days from the date of arrival in Thailand. Travelers should check the immigration stamps in their passports carefully for the exact length of stay to ensure they do not overstay their visa.
US citizens can move to Thailand by obtaining a visa based on retirement, employment, investment, business or marriage. There are a number of ways you can relocate to Thailand – the most common is a non-immigrant visa. It allows a stay of 90 days, which can be extended.
The Permanent Residence Permit allows you to stay in Thailand permanently without the need for a Visa. Furthermore, it is another step on the road to acquiring citizenship, and a Thai passport. This is an opportunity that the Thai government offers to only 100 people of all nationalities each year.
Travelers are allowed to stay in Thailand for a period of no more than 12 months. On 22 November 2016, the Thai Cabinet approved a new scheme which allows nationals from 14 countries to stay in Thailand for a maximum period of 10 years.
How to make money in Thailand
Can I get Dual Thai Citizenship? Wow, you can. The Thai Government does not require you to renounce your previous nationality after obtaining Thai Citizenship. Likewise, if you apply for another country’s nationality while holding a Thai passport, you can still retain your citizenship/passport.
Is it difficult to get Thai citizenship? Becoming a Thai citizen is a long and difficult process. Before even applying for citizenship, you need to be a permanent resident of Thailand for 5 years living there continuously, (which includes 3 years of owning a business in Thailand or working for a company Thailand).
Can I hold Dual Citizenship? Yes, you can have dual citizenship. The Thai government does not require you to renounce your previous nationality once you have obtained Thai Citizenship. Likewise, if you apply for another country’s nationality while holding a Thai passport, you can still retain your citizenship/passport.
Without going too deep into the legal details, the basic fact is that it has not been illegal for a Thai citizen to hold more than one citizenship since 1992.
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