Condo for 3 Million Baht with a Visa in Thailand: How the Scheme Works and Risks in 2026

New Thailand Longstay Program: Condo from 3 Million Baht Grants Visa Eligibility

Since late 2025, Thailand has implemented a mechanism allowing foreigners to apply for a long-term visa when purchasing property from 3 million baht. The program was launched by Thailand Longstay in partnership with major developers - the first partner was Sansiri, which owns RHEA by Sansiri projects in Phuket, as well as properties in Chiang Mai and Pattaya. Buyers receive not an automatic residence permit, but a service package: visa support, fast-track at Suvarnabhumi Airport, priority service at immigration offices.

Important nuance: the right to apply does not equal a guarantee of approval. The final decision is made by the immigration service, and detailed administrative procedures for issuing certification letters have not yet been fully published. Developers have announced partnerships with specialized organizations, but the mechanism for issuing supporting documents still requires clarification.

Purchase Conditions: Three Strict Requirements That Cannot Be Bypassed

First - origin of funds. The entire amount must come from abroad in foreign currency with completion of the FET form (Foreign Exchange Transaction) from a Thai bank. Without this document, the immigration service will not accept the application. Purchase with cash baht obtained in Thailand, or transfer from another foreigner, do not count.

Second - seller's status. The seller or lessor must be a Thai citizen or a Thai company with limited foreign participation. Purchasing an apartment from a foreigner or from a company where the majority of shareholders are non-residents excludes the possibility of obtaining a visa, even if the investment amount is met.

Third - no right to work. Longstay Visa does not provide permission for employment in Thailand. For work, separate processing of a work visa and Work Permit will be required.

Three Investment Options: Purchase, Long-term Lease, Premium Lease

The program provides not only for the purchase of a condominium in full ownership (freehold). A foreigner can lease a house with registration of the contract at the land department for a comparable amount or enter into a premium lease agreement with a high monthly payment. After completing the transaction, you need to obtain a certification letter from an authorized government agency confirming the status. With this letter, you can apply to the immigration bureau for an annual extension of residence permit.

Example: a buyer from Moscow purchases a 28 sqm studio in the Once Pattaya project for 3.6 million baht. Money is transferred from a Russian bank in US dollars, a Thai bank converts it to baht and issues an FET form. The developer processes the sale in the buyer's name, the seller is the Thai company Honour Group. After registration at the Land Office, the buyer receives a Chanote (ownership document) and applies to Thailand Longstay for a certification letter. With the letter, they submit a visa application to the immigration office.

Participating Projects: Phuket, Chiang Mai, Pattaya

The first implementation platform is the RHEA by Sansiri project on Surin Beach, Phuket. The choice of Phuket is understandable: the island remains one of the most stable markets for foreign buyers with high international recognition. The program is also promoted in Chiang Mai - a popular city among digital nomads and those seeking a quieter lifestyle in the northern part of the country, and in Pattaya - closer to the capital, with developed infrastructure and strong rental demand.

In Pattaya, projects participate in Central Pattaya, Jomtien and Wongamat areas. Prices start from 1.8 million baht for 28-30 sqm studios in projects like Diamond Suites Resort or Laguna Beach Resort 3 Maldives. One-bedroom apartments of 34-35 sqm cost from 2.5 million baht, two-bedroom 51-60 sqm - from 3.5 million baht. Only properties worth from 3 million baht are eligible for the program, so studio buyers will have to pay extra for a furniture package or choose more expensive options.

Comparison with Other Visa Programs: LTR, Elite, DTV

The Long-Term Resident visa (LTR) remains one of the most attractive options, but requires annual passive income of at least 80,000 US dollars. With income below this threshold, an additional investment in Thailand is required - in government bonds, direct investments in companies or real estate. Only the amount recorded in the purchase agreement according to land department data is counted, not the current market value of the property.

Thailand Privilege Card (Elite Visa) offers the most predictable option. The entry-level Bronze Membership (5 years) has been extended until the end of March 2026. This year, it became possible to switch to Privilege Visa from tourist status without leaving the country. The process looks like this: document submission, security service check, payment after approval, and then visa stamping at the immigration office in Bangkok, provided that sufficient days remain on the current stamp at the time of stamping. Bronze Membership cost is 600,000 baht for 5 years.

Destination Thailand Visa (DTV) grants the right to stay up to 5 years with the possibility of extension. The visa is intended for digital nomads, cultural program participants and remote workers. Cost is 10,000 baht, but requires proof of income and contract with an employer outside Thailand.

Program Risks: What Could Go Wrong

First risk - lack of detailed regulations. The program cannot work at full capacity until the mechanism for issuing certification letters is established. Some developers have already announced partnerships with specialized organizations, but the actual launch of the program requires caution and verification on a specific property. A buyer may pay 3 million baht, and six months later find out that the certification letter is not issued due to technical problems.

Second risk - foreign ownership quota limitations. In Thailand, foreigners can usually purchase condominiums in freehold, but the share of foreign ownership in the complex must not exceed 49%. If the quota is exhausted, purchase is impossible, even if the developer participates in the program. Before signing the contract, you need to check the availability of Foreign Quota in the building.

Third risk - visa policy changes. Programs like "visa through purchase" may tighten over time: government policy changes depending on macroeconomics and political agenda. In 2023-2024, Thailand actively attracted foreign investors, but in 2026 conditions may be adjusted.

Additional Expenses: What to Consider Besides Apartment Price

When purchasing real estate in Pattaya, it is necessary to consider mandatory payments:

Transfer Fee (registration fee) - 2% of assessed or market value. Paid half by buyer and seller, or by agreement.
Stamp Duty (stamp fee) - 0.5% of value, if Business Tax does not apply.
Business Tax (business tax) - 3.3% of value, if the seller owned for less than 5 years and is not an individual. Usually paid by seller, but can be transferred to buyer by agreement.
Withholding Tax (seller's income tax) - usually paid by seller, but can be transferred to buyer.

Calculation example for an apartment worth 3 million baht:

Transfer Fee (50% of 2%) - 30,000 baht
Stamp Duty - 15,000 baht
Total buyer expenses - 45,000 baht (1.5%)

Additional expenses:

Legal support - 15,000-30,000 baht (optional, but recommended)
Utility payments - need to close seller's debt before transfer
Common area fees for building maintenance - 30-70 baht/sqm per month
Capital repair fund - 600 baht/sqm (one-time payment upon transfer)

Legal Due Diligence: Checklist Before Purchase

Before signing the contract, you need to complete the following steps:

Check developer status. Sansiri is a major Thai public company, but it's important to check the specific project: contract, construction schedule, permits.
Verify property legal status. Request title deed (Chanote) and legal verification.
Check for liens and encumbrances on the property.
Clarify all additional expenses: complex maintenance fees, transfer taxes, possible commissions, visa processing costs (what part is free and what is included), property maintenance costs.
Consult on taxation of rental income and possible obligations both in Thailand and in the country of residence.
Study transaction financing options. Most Thai banks do not provide mortgages to foreigners without permanent residence.

Alternative: Purchase Without Visa and Rental Management

If the goal is real estate investment without long-term residence, you can buy a condominium without participating in the visa program. Pattaya offers attractive investment opportunities:

Short-term rental (to tourists) - 5-8% annually. High income, but requires active management.
Long-term rental (to expats) - 4-6% annually. Stable passive income.
Seasonality - peak months November-March, low season May-September.

Historically, real estate in Pattaya grows 3-5% per year. Prestigious areas (Wongamat, Pratumnak) show more stable growth. New areas and infrastructure projects offer greater growth potential.

What This Means for Pattaya Buyers

For Russian-speaking buyers in Pattaya, the Thailand Longstay program opens a new legalization channel, but requires caution. Key points:

Verify specific project participation. Not all Pattaya developers participate in the program. Before purchase, confirm with the agent whether the project has a partnership with Thailand Longstay and whether the developer is ready to process the certification letter.

Compare with Elite Visa. If the goal is guaranteed long-term stay, Elite Visa remains a more reliable option. Bronze Membership cost (600,000 baht for 5 years) is comparable to purchasing a 28 sqm studio for 3 million baht, but Elite provides immediate processing without dependence on real estate.

Consider resale prospects. Apartments purchased for visa purposes may be less liquid. Buyers in the secondary market do not receive visa benefits, so the resale price will be determined only by market factors: location, condition, infrastructure.

Prepare for bureaucracy. The process of obtaining a certification letter and submitting a visa application will take several months. Plan timelines in advance, especially if your current visa is expiring.

Consider a combined strategy. Buy a condominium for rental and income generation, and for residence, obtain DTV or a tourist visa with extension. This way you don't depend on one instrument and maintain flexibility.