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.
IMPORTANT NOTE:
The detailed implementing regulations and administrative procedures for this pathway have not yet been issued by the relevant Thai authorities. Despite representations by some agents and legal consultants, this program is currently inoperable pending publication of complete regulatory guidance. Foreign nationals should exercise caution and obtain current legal advice before relying upon this pathway.
For foreign investors considering relocation to Thailand, this may eventually offer an alternative to existing visa categories, such as retirement visas, Long-Term Resident (LTR) visas, or the Destination Thailand Visa (DTV).
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).
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 the international nature of funds.
Initial Stay and Extension Process
Based on the framework, the anticipated process would operate as follows:
- Applicant enters Thailand on an appropriate non-immigrant visa (typically category O or similar)
- Applicant acquires qualifying property or enters qualifying lease arrangement (minimum THB 3 million)
- Documentation submitted to TLS for Ministry certification (currently unavailable pending regulations)
- Upon certification, the applicant applies for initial 90-day permission at Immigration
- Prior to expiry, the applicant applies for a 12-month extension under Order 238/2568
- Extensions are renewable annually, subject to maintained investment and compliance
Critical Timing Considerations:
- At least 15-21 days’ validity must remain on the current visa/permission when applying
- TLS verification currently requires 7-10 business days of processing
- Applications should commence 30-45 days before the existing permission expires
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 if disabled with government hospital certification)
- Parents: Biological parents aged 50 years or older
Documentation Requirements: All relationship documents must be translated into Thai and certified by a translation agency accredited by the Department of Consular Affairs (MFA) .
Comparison with Existing Investment Options
| Feature | 3M Proposed Pathway | 10M Investment Visa (Non-Im IB) | LTR Visa |
| Minimum Investment | THB 3M (property) | THB 10M (property/bonds/deposit) | USD 250,000-500,000 |
| Validity | Annual renewable | Annual renewable | 10 years (5+5) |
| Work Rights | Prohibited | Prohibited | Digital Work Permit available |
| Tax Benefits | None specified | None | Exemption on overseas income |
| Ministry Certification | Required (TLS) | Not required | Not required (BOI approval) |
Practical Considerations and Current Status
Regulatory Uncertainty: As of March 2026, complete implementing procedures for the 3-million-baht pathway remain unpublished. While developers such as Sansiri have announced partnerships with Thailand Long stay, the program cannot operate until full regulations are issued and 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 have familiarity with TLS procedures, while 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.
Regulatory Status and Practical Outlook
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. It will also be of particular interest to see what eligibility requirements the Ministry of Tourism and Sports will ultimately impose when issuing the required certification letter. As the certification mechanism has not yet been formally implemented, it remains unclear whether this pathway will develop as a distinct investment-based extension or evolve into a structure aligned with, or potentially replacing aspects of, the existing Destination Thailand Visa (DTV) framework.
Professional advice from qualified legal practitioners is essential before committing to any property transaction in reliance upon this framework.
