Thailand Investment Visa: The ฿40M Property Route Explained

Thailand Investment Visa: The ฿40M Property Route Explained

Thailand offers a specific pathway for high-value investors to obtain long-stay visas linked to substantial Thai investment. Here is how the property-linked investment visa works.

The Investment Visa (Non-Immigrant IM)

The Non-Immigrant Investment Visa (IM) provides a 1-year renewable stay for foreigners who invest a minimum of ฿40 million in qualifying Thai assets. One of the qualifying assets is Thai real estate.

This is distinct from the LTR visa—it is an older mechanism but one that includes a unique benefit: the right to own up to 1 rai (1,600 sqm) of land for residential use.

Land Ownership Through Investment

Under Section 96 bis of the Land Code, foreign nationals who invest at least ฿40 million in Thailand (maintained for at least 3 years) may apply for permission to hold up to 1 rai of land for residential purposes.

Process:

1. Invest ฿40M in qualifying assets (can include BOI-approved funds, Thai government bonds, or registered company shares—not direct real estate)
2. Obtain BOI certificate confirming the investment
3. Apply to the Ministry of Interior for land ownership permission
4. Permission is personal and non-transferable—the land reverts to Thai ownership on the investor's death or departure

Important: The Ministry of Interior approval is discretionary, not automatic. Not all applications are approved.

What Counts as a ฿40M Investment?

Qualifying investments include:

• Thai SEC-regulated investment funds
• Government bonds (Thai treasury bonds)
• Share capital in a BOI-promoted company

Direct purchase of a Thai condo or land does not count toward the ฿40M investment threshold. The property investment and the qualifying investment are separate.

Practical Considerations

Who this is for: Wealthy investors who genuinely want Thai land ownership (for a villa, estate, or significant residential project). Not practical for standard property buyers.

Maintenance: The ฿40M investment must be maintained. If you liquidate the qualifying assets, you must surrender the land ownership permission.

Annual reporting: Investment status must be reported annually to the Ministry of Interior.

Legal complexity: This route requires specialised legal and BOI advisory support. Budget for significant professional fees.

Alternative: BOI-Promoted Company

Some high-net-worth investors use a BOI-promoted Thai company to hold land for manufacturing or business purposes. This is a different route to land ownership, with its own conditions and compliance requirements.

Key Takeaway

The ฿40M investment visa / land ownership route is real and used by some high-net-worth investors, but it is complex, requires significant liquidity, and is subject to ministerial discretion. For most foreign buyers, condo freehold ownership or a professionally structured leasehold remains the practical and cost-effective path to Thai property.