Over the years in Pattaya we have seen a number of incentives offered by developers to entice people to purchase property in a certain project, such as ‘A chance to win a luxury car’ – ‘Free furniture package’ – ‘Guaranteed rental for 5 years’ etc., however Kingdom Property, which is currently promoting its Southpoint project in the city, made an announcement last week to top all these: A 20-year Thai visa.
Details of this offer were announced at a meeting/press conference held at the ‘Workshop’ of the Executive Tower of the Holiday Inn in Pattaya on Wednesday the 10th of June.
Nigel Cornick(3rd left), CEO of Kingdom Property, poses with dignitaries and officials at the announcement of the new Southpoint 20-year visa promotion during a press conference held at the Holiday Inn Pattaya, Wednesday, June 10.
Currently there are a number of visa options available to foreigners such as Tourist, Non Immigrant, Marriage, Retirement, Business and Permanent Resident. Each of these visas is subject to a number of conditions and they are often costly and time consuming to obtain.
Now Kingdom Property has teamed up with Thailand Elite to give buyers a way of investing in property and cutting through the red tape by entitling them to a 20-year visa when they purchase a condominium at Southpoint. The visa, when issued, runs for 5 years and then is renewed another 3 times to cover the twenty year period.
The CEO of Kingdom Property, Nigel Cornick, hosted the meeting and pointed out that this was the first time that a long-term visa had been made available when purchasing property in Thailand. He stated that Kingdom Property will look to tap into another market of investors who wish to have a long-term option without the restrictions of the current visas that are available.
Mr. Cornick admitted that the offer put forward by Kingdom may not suit everyone’s requirements, but stated that for as little as 3 million baht an investor in Southpoint could purchase a new condo package that includes a 20-year visa.
The process would involve paying a 100,000 baht deposit on your desired condo in the Southpoint development, at which point you would be eligible to apply for a Thailand Elite member card and visa. Clients then continue to pay installments and can borrow up to 50% of the purchase price at under 6% PA. Once payments have been made clients will own their new condo, receive their first 5-year visa and also enjoy the other member benefits of the Thailand Elite card as outlined on their website: www.thailandelite.com.
More information about this offer can be found online at the official Southpoint website: southpointpatttaya.com.