Every year, 100 successful foreigners are able to receive what is basically the most coveted document of expatriates who live long-term in the Kingdom. This document is what we call the permanent residency.
With so many foreigners investing in multiple entry immigrant visas, the idea of becoming a permanent resident could be undeniably alluring. That’s because there are plenty of benefits that foreigners who become permanent residents enjoy. Here are four of those benefits.
One of the toughest processes in entering any country as a foreigner is the immigration counter. There are many documents that you have to prepare to give to the immigration officer before you can go through that door and be officially in Thailand. Foreigners find this a hassle, albeit a necessary one that they need to take on.
As a permanent resident, however, you can bypass the immigration counter and enter the country as a local. You simply show them your proof of permanent residency and you can breeze through the airport upon arrival.
Foreign expatriates periodically have to apply for extensions to their non-immigrant visa and, in some cases, leave the country for a while to satisfy the requirements of their multiple entry visa. While necessary, it is also expensive and a burden for older expatriates.
Permanent residents don’t have to go through those processes. They can stay in Thailand as long as they want without having to go through the paperwork. Granted, though, they have to report to the authorities every 4 years.
For some, this difference is minimal. As a non-resident, you will have to transfer money from a foreign currency account in order to buy a condominium unit. This means that checks you make for payment of your amortization will have to be drawn from a foreign currency account. That becomes advantageous during times of great fluctuations in the foreign exchange.
As a permanent resident, you can use a local bank account in the baht currency to purchase condominiums. In times of volatile currency markets, the money you pay for your amortization remains the same month after month.
If you’ve thought long and hard about residing in Thailand for the long-term, then becoming a permanent resident is a must. With a permanent residency, you can become eligible to apply for Thai citizenship five years after being registered as an alien living in the Kingdom.
Fun fact – the child or children of married expatriates who hold permanent residency in Thailand are eligible to become Thai citizens. However, they only become citizens if and only if the parents opt for them to become one upon registering the child’s birth with the proper authorities.
A foreigner who becomes a permanent resident are still subject to the limitations on investment that applies to all foreigners. For instance, they still cannot purchase land under their name. They’d also need to secure a permit if they need to find employment.
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