Immigration authorities and real estate executives held a briefing on Tuesday to clarify the new long-stay visa programme for foreign real estate investors, which aims to attract high-potential buyers and support economic activity in Thailand’s property sector.
One-year renewable visas are now available for foreigners who purchase condominiums valued at 3 million baht or more, or rent housing at a minimum of 85,000 baht per month.
The programme has been in place since October 2025 but there have been some initial difficulties as both applicants and officials are learning how the system works in practice, acknowledged Pol Col Khemmachat Wattanaphakesem, superintendent of the Phuket Immigration office.
Phuket tourism operators have spoken out against the programme, saying the 3-million-baht threshold is far too low and could attract ‘non-quality’ visitors who may engage in illegal activities, as well as pushing up property prices, making housing less affordable for local residents.
They also called for strict enforcement to prevent people from exploiting loopholes to conduct illegal activities or do business without permits. Some might also buy several condo units and rent them out to short-stay tourists, they warned.
Speaking at a briefing held by the real estate firm Ayana Phuket in cooperation with Thailand Longstay Company, Pol Col Khemmachat said the visa offers three main investment options.
The first requires purchasing a condominium unit with a value of at least 3 million baht, supported by a valid sales contract and ownership documentation.
Purchases must be made from Thai developers and comply with ownership rules, which stipulate that foreigners cannot hold more than 49% of the ownership quota in any condominium development.
The second option allows for the leasing of a condominium or house at a monthly rate of 85,000 baht, with advance payments required for visa applications and subsequent long-term residency approval.
The third option involves the three-year lease of a house or apartment valued at least 3.06 million baht, with contracts and proof of payment required for visa consideration.
Pol Col Khemmachat said applications must be processed through authorised agents approved by the Tourism Authority of Thailand (TAT), with documents verified before they are submitted to immigration offices in provinces where the properties are located.
Piyapat Suban Na Ayudhya, chief executive officer of Thailand Longstay Company, said the programme is part of an effort to address an oversupply of more than 280,000 units in the property market.
The visa is renewable annually and allows holders to remain in Thailand as long as ownership or qualifying lease conditions are maintained, she said, adding that applicants must undergo screening through the Department of Land and additional verification before submission.
She stressed that not all applicants will qualify under the programme’s criteria, and that visa holders are required to report to immigration every 90 days. Visas can be revoked if holders are found to be involved in illegal activities.
Ms Piyapat said foreign buyers contribute to the economy through taxes, property transfers and domestic spending. Key markets include Taiwan and Singapore, particularly in Bangkok where many foreign families purchase property for long-term stays while children attend international schools.
Kornthip Riankrai, managing director of Ayana Phuket, said the briefing aimed to build confidence among buyers, particularly from Russia and Ukraine, and support long-term residence in Phuket.