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Is This Worth Looking Into?

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U.K. news item today.

 

 LONDON -- The Thai government has started offering "elite" residency visas for wealthy foreign citizens, allowing them to live in the country for around $US3,000 (£2,403) a year, aimed at capitalising on increased global uncertainty over borders and immigration.

There are seven different packages, with the most expensive being the "Elite Ultimate Privilege" scheme.

It costs $US60,000 for 20 years residency, along with a $US600 a year membership fee.

Included in the price is a state-sponsored concierge programme, entitling members to VIP access to government agencies dealing with immigration, driving licences, and work permits.

The government will also provide complimentary return airport transfers, an annual health check up at a private hospital and 24 spa treatments and golfing trips a year.

The special residence visa is issued by the Thailand Privilege Card Company Limited -- a wholly-owned subsidiary of the Tourism Authority of Thailand.

Pruet Boobphakam, President of the Thailand Elite program, told Business Insider that VIP residents would get extra help from the government: "We rise to the occasion for our members. We can apply for a work permit if they'd like to. We can apply for a driving licence if they'd like to. We are helping them to get those licences."

He said he expects more than 1,000 people to apply for the programme, which is aimed at retirees.

Other packages include a $US15,000 deal for five years with no annual fee called "Elite Easy Access," and also a 10-year, $US30,000 membership that includes discounts for family members.

"There has been a sharp increase worldwide in the number of individuals wanting to acquire a beneficial second or third residence or citizenship to globalize their family's opportunities and expand their business interests in a changing and uncertain world," said Dominic Volek, head of Southeast Asia for Henley & Partners, a citizenship consultancy firm.

"More and more governments are seeing these programs as an innovative way of driving economic growth," Volek said.

Edited by gazz469

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I think with the uncertainty of expats in Spain, maybe the government is trying to lure them to LOS perhaps.  Elite residency visas at the current exchange rate work out at under £40 week for the annual visa? 

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Not sure why so attractive.

 

Current annual retirement visa is 1 year and costs 1,900 Baht per year.

 

You do need to show 800,000 Baht in the bank for more than 2 months prior to initial application. For renewals it is 3 months.

 

Once you have your visa you can use the money as you like but must show again for next renewal.

 

So you tie up 800,000 Baht for 3 months.

 

An alternative to the 800,000 is you can show consular endorsed proof of pension income.

 

Eg. Have pensions valued at 300,000 Baht only need to show 500,000 in the bank for 3 months prior.

 

Many ex pats spend about 800,000 Baht in a year so the impact is mimimal.

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I guess its attractive if you're under 50.

 

The reason it is in the "news" again is they added more plans to it last year I believe.

 

If I remember correctly there only used to be 3 options?

 

Sent from my SM-G920P using Tapatalk

Edited by skippy123

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old news, check the PE visa thread.

this program was started by Thaksin over 10 years ago and has over 50,000 members.

this is a great program, I would know since I am a member.

and as they say, "membership has it's privileges".   555

 

some people will say it's too expensive, but do the analysis RE time/money.

you live in LOS as a Thai citizen does.

you DO NOT have to leave the country.

it's 270 THB/day.  

free limo airport transfers 24x/year.

free golf 24x/year.

free 1x/year thorough medical exam.

20 year version can be transferred to family members.

discounts to purchase property.

the list of perks is extensive, hotel discounts, restaurant discounts, club discounts, spa discounts, shopping discounts, et al.

24 hour phone line, great customer service.

no bank deposits are necessary (I'm not putting 800,000 THB in a Thai bank account, while waiting for another coup, assets frozen, TIT).

and let me repeat, YOU NEVER HAVE TO LEAVE THE COUNTRY.

Edited by bayhill

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U.K. news item today.

 

 LONDON -- The Thai government has started offering "elite" residency visas for wealthy foreign citizens, allowing them to live in the country for around $US3,000 (£2,403) a year, aimed at capitalising on increased global uncertainty over borders and immigration.

There are seven different packages, with the most expensive being the "Elite Ultimate Privilege" scheme.

It costs $US60,000 for 20 years residency, along with a $US600 a year membership fee.

Included in the price is a state-sponsored concierge programme, entitling members to VIP access to government agencies dealing with immigration, driving licences, and work permits.

The government will also provide complimentary return airport transfers, an annual health check up at a private hospital and 24 spa treatments and golfing trips a year.

The special residence visa is issued by the Thailand Privilege Card Company Limited -- a wholly-owned subsidiary of the Tourism Authority of Thailand.

Pruet Boobphakam, President of the Thailand Elite program, told Business Insider that VIP residents would get extra help from the government: "We rise to the occasion for our members. We can apply for a work permit if they'd like to. We can apply for a driving licence if they'd like to. We are helping them to get those licences."

He said he expects more than 1,000 people to apply for the programme, which is aimed at retirees.

Other packages include a $US15,000 deal for five years with no annual fee called "Elite Easy Access," and also a 10-year, $US30,000 membership that includes discounts for family members.

"There has been a sharp increase worldwide in the number of individuals wanting to acquire a beneficial second or third residence or citizenship to globalize their family's opportunities and expand their business interests in a changing and uncertain world," said Dominic Volek, head of Southeast Asia for Henley & Partners, a citizenship consultancy firm.

"More and more governments are seeing these programs as an innovative way of driving economic growth," Volek said.

I would have thought that the "Increasing Global Uncertainty" re visas was in part Thailands' dog to own.

Their ongoing f*cketyness re visas and "certainty" has, at the very least, been fluid. Indeed, it would seem, for me at least, to undermine the notion of international Property investment. When a country induces Foreign Investors to buy property on an advertised free and fair policy, then changes that policy on a whim regarding the very access to that property, I think that rocks the very foundation of investment. indeed, it should be well noted that one cannot trust investment outside One's own borders. When said One cannot be sure of issues such as Political stability, the rise of Nationalism etc.

 

All very well to sell condos to Foreign Investors but then to shift ground on Visa Policy represents a very precarious situation.

Especially when Thai Immigration pulls up a traveler such as My Good Self, who works outside LOS and returns to spend his gains in said LOS;

Who having entered the country with a ten year passport, showing numerous stamps here, coming on R&R;

Gets pulled up by immigration because all they can see is a collection of stamps. Despite having invested in a condo, and I am told that I need a visa each and every time I travel here.

 

Really f*cking p*sses me orf.

 

Thus I am afraid that all I can see re this so called "Elite" visa policy is another loosely termed extortion attempt.

Disguised as revenue raising. Indeed, the very notion of Tourists entering for free was the starting point. If recipients of dodgy Retirement visas thought they would be secure, then I guess they will be. For the next year....

 

There is IMHO absolutely NO certainty with this or any other policy regarding Visas in any Foreign Country in the current political climate.

 

And just as an aside, WTF is this about BUYING a work permit? Given the policy is "aimed at retirees"?

 

I post this because there is hot competition in the "Retiree" market and LOS is lagging.

Let us also not mention that LOS has also lagged in the economic figures for the region for the last two years, despite having a strong currency. Oh, sh*t just mentioned, but if you take p*ssy, piss and smokes out of the equation there is precious little to keep you here. Inflation and exchange rates ensue. Thus, we really can take P*ssy prices out of the equation, now cant' we? 

 

I post this as an observation, because whilst I feel the impending doom of a precarious political and Social shift, which will, of course, cost me money, again;

I really don't give a sh*t. I will, as so many others have already done,

move on. Which brings me, reciprocally, back to the point.

 

 

Rant over.

 

 

 

:)

Edited by Thaiman12

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... and to add to Thaiman12's excellent summary:

 

Just assuming, they would further tighten the immigration rules and the Elite Visa would be the only way to circumvent this:

- Who would then want to live in Thailand, considering the likely political climate ?

- Or move on and spend your money somewhere else ???

 

And a country, changing its constitution in average every 4 years, so in the period of a 20-year-Elite-Visa approximately 5 times ... how reliable and long lasting you consider the Elite visa rules then.... ?

Edited by insearchofxxx

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