Thailand’s 3 Million Baht Investment Visa: A Potential Long-Term Stay Pathway – awaiting regulations

Thailand has introduced a regulatory framework that, upon full implementation, may establish a new long-term stay pathway linked to property investment. Commonly referred to as the “3-million-baht investment visa,” this initiative aims to encourage foreign investment and could provide eligible foreign nationals with an accessible option for extended residence in Thailand.

It is critical to understand that this investment does not, on its own, automatically grant residence status. Rather, the qualifying investment serves as a supporting justification for annual immigration extensions. Unlike traditional residency-by-investment programs, which grant residence rights upon qualifying investment, this structure offers renewable permission to stay, contingent on maintaining the investment.

Legal Framework: Orders 237/2568 and 238/2568

Effective October 2025, Immigration Orders 237/2568 and 238/2568 modernised the framework for investment-based extensions of stay. These orders introduced a practical THB 3 million investment threshold for applicants seeking annual extensions based on qualifying property arrangements.

The process operates in two distinct legal stages:

• Order No. 237/2568 governs initial visa alignment and change of category to prepare for the investment extension
• Order No. 238/2568 governs the one-year renewable extension and defines qualifying criteria

The “Ministry Bridge”: Certification Requirement

A defining feature distinguishing this pathway from other investment options is the mandatory certification requirement. To qualify for the reduced THB 3 million threshold, applicants must obtain a Certification Letter from the Ministry of Tourism and Sports (administered through Thailand Longstay Service Co., Ltd., or TLS – amongst others).

This certification verifies the applicant as a “long-stay tourism supporter.” Without this document, immigration officers are legally required to default to the standard THB 10 million investment requirement applicable to other investment visa categories.

Qualifying Investment Structures

Under the proposed framework, foreign nationals may qualify for long-term stay permissions through the following qualifying investments :

1. Condominium Purchase (Recommended Structure)

• Minimum THB 3,000,000 purchase price
• Completed condominium unit within foreign freehold quota (49% maximum foreign ownership)
• Ownership registered at the Department of Lands in the applicant’s name
• Transfer/registration dated on or after 1 October 2020
• Full purchase price transferred from abroad with proper documentation

Important: Off-plan or under-construction units do not qualify until construction is complete and the transfer at the Land Office is completed. Deposits or stage payments do not satisfy requirements.

2. Registered Long-Term Leasehold

• Minimum THB 3,060,000 total lease value
• Lease term exceeding three years, registered at the Land Office
• Applicant clearly stated as lessee
• Suitable for houses or condominiums where foreign freehold is not available

3. High-Value Residential Rental

• Minimum THB 85,000 per month rental
• Initial application: evidence of three months’ advance rent payment
• Annual extension: evidence of twelve months’ advance rent payment
• Strict landlord eligibility requirements apply

Critical Seller/Landlord Eligibility Requirement

For all qualifying routes, the counterparty must be either:

• A Thai individual; or
• A Thai juristic person with foreign shareholding not exceeding 49% (Thai majority-owned)

Transactions with foreign individuals or foreign-majority entities as seller/landlord are unlikely to qualify, even where financial thresholds are met.

Foreign Exchange Documentation

Foreign buyers must bring funds into Thailand in foreign currency. The receiving Thai bank must issue a Foreign Exchange Transaction Form (FETF or “Tor Tor 3”) or a Credit Advice confirming the international remittance. This documentation is mandatory for:

• Land Office registration of a condominium in a foreign name
• Immigration approval for investment-based extensions

Where Wise or similar transfer services are used, applicants must obtain appropriate documentation from their Thai receiving bank confirming that the funds are from offshore.

Initial Stay and Extension Process

Based on the framework, the anticipated process would operate as follows:

1. Applicant enters Thailand on an appropriate non-immigrant visa (typically category O or similar)
2. Applicant acquires qualifying property or enters qualifying lease arrangement (minimum THB 3 million)
3. Documentation submitted to TLS for Ministry certification (currently unavailable pending regulations)
4. Upon certification, the applicant applies for initial 90-day permission at Immigration
5. Prior to expiry, the applicant applies for a 12-month extension under Order 238/2568
6. Extensions are renewable annually, subject to maintained investment and compliance

Eligible Family Members (Dependents)

The program may permit inclusion of qualifying family members as dependents, without additional investment requirements:

• Spouse: Legally registered marriage, relationship subsisting
• Children: Under 20 years, unmarried, residing in applicant’s household (children over 20 may qualify on certain conditions.
• Parents: Biological parents aged 50 years or older

Documentation Requirements: All documents must be translated into Thai and certified by a translation agency accredited by the Department of Foreign Affairs (MFA).

Comparison with Existing Investment Options

Practical Considerations and Current Status

Regulatory Uncertainty: As of March 2026, complete implementing procedures for the 3-million-baht pathway remain opaque. While developers such as Sansiri have announced partnerships with Thailand Long Stay, the program cannot operate until administrative mechanisms are functioning.

Regional Implementation Variance: When operational, implementation may vary between immigration offices. Bangkok and major tourist centres (Phuket, Pattaya, and Chiang Mai) are likely to be familiar with TLS procedures, whereas provincial offices may have limited experience.

Health Insurance Requirements: Applicants should anticipate mandatory health insurance coverage meeting minimum thresholds (typically 400,000 THB or USD 40,000 for inpatient treatment).

Tax Residency Considerations: Persons spending more than 180 days annually in Thailand are considered tax residents and must declare foreign income brought into Thailand. Unlike LTR visa holders, standard investment extension holders do not enjoy special tax treatment.

Current Status and Key Takeaways for Investors

Thailand’s 3-million-baht investment visa pathway represents a potentially accessible option for foreign nationals seeking a longer-term stay while investing in Thai property. However, the program remains inoperative pending issuance of complete implementing regulations and establishment of administrative procedures.

Until the Ministry of Tourism certification process is fully functional and immigration authorities accept applications under this reduced threshold, foreign investors should approach representations by agents and consultants with appropriate caution. The existing 10-million-baht investment visa and LTR visa remain the only currently operable investment-linked pathways to extended residence in Thailand.

For investors considering relocation to Thailand, the 3-million-baht pathway may eventually provide a practical route to extended residence when properly structured and combined with appropriate legal and immigration planning. Professional advice from qualified legal practitioners is essential before committing to any property transaction in reliance upon this framework.

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