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.
What is the Thailand 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.
Can foreigners own land in Thailand through a ฿40M 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:
- Invest ฿40M in qualifying assets (can include BOI-approved funds, Thai government bonds, or registered company shares—not direct real estate)
- Obtain BOI certificate confirming the investment
- Apply to the Ministry of Interior for land ownership permission
- 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.
Who is the ฿40M investment land route in Thailand for?
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.
Can a BOI-promoted company hold land in Thailand instead?
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.
