Thread: Thailand Elite Card aims to lure expats seeking virus haven

They should clarify to whose "economy" one will be "contributing"....

Thailand’s “pay to stay” visa programme for wealthy foreigners is seeing an expansion opportunity, with visions of the country becoming a haven for expats thanks to its relative success in containing the coronavirus.

The Thailand Elite Card is a residential-visa programme for affluent expats, investors and long-stay groups.

Membership, which ranges from 500,000 baht to 2 million baht, provides for a renewable five-year visa. It also comes with perks, which at the top end include limousine transport, jet and yacht charters, medical checkups and golf at championship courses in Bangkok, Phuket and Pattaya.

With borders currently closed and global travel at a near standstill, this would seem like the worst possible time for a visa programme. But Thailand Elite, which has been around for 17 years, is holding up during the pandemic. It forecasts 2,288 new enrollees in the fiscal year through September, up 6.8% from the previous year, and revenue is seen climbing 7.7% to 1.4 billion baht.

Expats already living in the country on other types of visas have accounted for 70% of subscriptions this year, having concluded that it’s better than dealing with one-year work, retirement or marriage permits that often require multiple trips to government offices, lawyers and fixed-deposits in local banks.

“We have refocused our business by targeting people who are within the country, want to stay for the long-term and are not confident of the virus situation back in their home countries,” said Somchai Soongswang, president of the card’s state-controlled operator, Thailand Privilege Card Co, in an interview.

The possibilities of attracting subscribers outside of Thailand are currently limited because of the tight border controls, but Mr Somchai believes there’s a growing market of people abroad who want a safe, comfortable home, with Thailand being a good choice.

Thailand is heavily dependent on tourism, and virus containment measures have taken a heavy toll on the economy, with expectations it will shrink by 8.5% this year.

With its coronavirus situation relatively under control — it has about 3,400 cases, and has been free of local transmissions since May 26 — Thailand has been exploring ways to ease restrictions.

Currently, mainland Chinese account for about a quarter of Thailand Elite cardholders. The company will make another push to attract overseas markets in 2021, expecting that’s when border restrictions will be eased. Hong Kong and Australia residents are potential customers, Mr Somchai said.

Membership is essentially open to anyone who is looking for a long-term stay and is willing to “contribute to the economy,” he said.

Thailand Elite Card aims to lure expats seeking virus haven

As I recall, the Elite card was Thaksin's project, scorned by the opposition till they nicked the country and sniffed the scope for free money, as a one-off million bt (£15k) for the entire package of wanks and other perks. Now a million (£25k) gets you the cheapo package, and you would need to cough up 2m (£50k) for essentially what Thaksin was offering.

I was looking at Thailand Elite Card just a few days ago and working out the advantages/disadvantages.

For the million baht membership for twenty years works out to $1600 a year. Thats for a five year visa then renew yearly.

Do they apply for your yearly visa extension after five years? Are the fees included in the membership?

Anyone participate who knows?

^
in these uncertain times its a million baht gamble only an idiot would bet on.

Hopefully the uncertainty won’t last forever.

Can you work in Thailand with it? If so, perhaps Richard Barrow could consider it.

No work permit.

Elite card ? Sounds cheap . Where do I sign up ?

I assumed it was tailored to boomer oligarchs and cost $20,000 a year and $500,000 up front

Originally Posted by misskit

I was looking at Thailand Elite Card just a few days ago and working out the advantages/disadvantages.

For the million baht membership for twenty years works out to $1600 a year. Thats for a five year visa then renew yearly.

Do they apply for your yearly visa extension after five years? Are the fees included in the membership?

Anyone participate who knows?

id be worried they change the rules on it after 2 or 3 years.

The 500k for 5 years might be looking highly attractive to people around the world wishing they were somewhere else right now, especially if they could enjoy all Thailand has to offer till things blow over with CV-19 and let's get serious, there's no end in sight right now. So assuming they can find a way to get here, an almost totally CV19 free lifestyle awaits (with a few minor inconveniences like wearing of masks in public and having to sign-in before entering some businesses) but the upsides are huge, starting with being able to rent a nice Villa with pool for about half or less of what they cost last year to set up as home base.

Chatting with friends in the Philippines, in their shoes I'd be on this Elite visa like white on rice and getting the fuck out of there ASAP. Blockades in/out their own housing compounds, curfews, passes needed just to do basic things like go grocery shopping, shit local medical infrastructure, and so on. That 500k would be a cheap price to stop having to live like that and start enjoying a life with things like golf, restaraunts and bars again.

Maybe I am missing a trick here. I have B800k sitting uselessly in a bank so that I can grovel for a new visa each year.

Do I understand that I can take B500k of that for a 5-year renewable visa and spend B300k unwisely somewhere?

When it says 'renewable', is that another B500k?

I shall research further.

Originally Posted by Headworx

The 500k for 5 years might be looking highly attractive to people around the world wishing they were somewhere else right now, especially if they could enjoy all Thailand has to offer till things blow over with CV-19 and let's get serious, there's no end in sight right now. So assuming they can find a way to get here, an almost totally CV19 free lifestyle awaits (with a few minor inconveniences like wearing of masks in public and having to sign-in before entering some businesses) but the upsides are huge, starting with being able to rent a nice Villa with pool for about half or less of what they cost last year to set up as home base.

Chatting with friends in the Philippines, in their shoes I'd be on this Elite visa like white on rice and getting the fuck out of there ASAP. Blockades in/out their own housing compounds, curfews, passes needed just to do basic things like go grocery shopping, shit local medical infrastructure, and so on. That 500k would be a cheap price to stop having to live like that and start enjoying a life with things like golf, restaraunts and bars again.

Makes sense esp for those with cash to spare, but as others have said you never know when they're going to revise pricing and or benefits, neither of which will favour members.

Originally Posted by Shutree

Maybe I am missing a trick here. I have B800k sitting uselessly in a bank so that I can grovel for a new visa each year.

Do I understand that I can take B500k of that for a 5-year renewable visa and spend B300k unwisely somewhere?

When it says 'renewable', is that another B500k?

I shall research further.

I'd go for it.

1 mil for 20 years even better.

At the risk of drifting on topic, I see their website tells me that for Baht 1 Million (non-refundable) I can get:

PRIVILEGE ENTRY VISARenewable five-year multiple entry visa with extendable one-year length of stay per each entry

ARRIVAL AND DEPARTUREVIP greeting and escort on arrival and departure by Elite Personal AssistantsExpedited through immigration and passport control processingExclusive arrival and departure lounges

GOVERNMENT CONCIERGES & FACILITATIONImmigration service, 90-day Report, assist in the processing of driver’s license, assist in opening bank accounts; business networking

Compared to having B800K parked in a Thai bank, despite that being refundable, this seems like a reasonable offer.

Twenty years should see me out and I shan't get the B800K back if I pop off in Thailand. Just don't tell the gf.

Anyone here owning up to being 'Elite'? Any catches?

Originally Posted by Shutree

ARRIVAL AND DEPARTURE VIP greeting and escort on arrival and departure by Elite Personal Assistants Expedited through immigration and passport control processing Exclusive arrival and departure lounges

They have taken away the free SIM card that Thaksin had in his Elite Card program.

Originally Posted by Shutree

At the risk of drifting on topic, I see their website tells me that for Baht 1 Million (non-refundable) I can get:

PRIVILEGE ENTRY VISARenewable five-year multiple entry visa with extendable one-year length of stay per each entry

ARRIVAL AND DEPARTUREVIP greeting and escort on arrival and departure by Elite Personal AssistantsExpedited through immigration and passport control processingExclusive arrival and departure lounges

GOVERNMENT CONCIERGES & FACILITATIONImmigration service, 90-day Report, assist in the processing of driver’s license, assist in opening bank accounts; business networking

Compared to having B800K parked in a Thai bank, despite that being refundable, this seems like a reasonable offer.

Twenty years should see me out and I shan't get the B800K back if I pop off in Thailand. Just don't tell the gf.

Anyone here owning up to being 'Elite'? Any catches?

it does seem quite reasonable.

Originally Posted by Shutree

Twenty years should see me out and I shan't get the B800K back if I pop off in Thailand.

Word.

Does that cover a 20 year visa or do you have to start paying again after the first 5 years?

Dunno. Trying to find someone who does.

Originally Posted by harrybarracuda

Does that cover a 20 year visa or do you have to start paying again after the first 5 years?

Not clear from the website. TiT.
It says the money buys a 20-year membership and the membershio includes a renewable 5-year visa. Suggesting the up front 1 Mil is all you pay.

Then it says you get 1-year length of stay, extendable, each time you land. Which sounds like a 5-year visa and a 1-year visa at the same time. The former being 'renewable' and the latter 'extendable'.

I think.

Originally Posted by misskit

Dunno. Trying to find someone who does.

I think you can register and ask them without actually committing.

Originally Posted by Headworx

Chatting with friends in the Philippines, in their shoes I'd be on this Elite visa like white on rice and getting the fuck out of there ASAP. Blockades in/out their own housing compounds, curfews, passes needed just to do basic things like go grocery shopping, shit local medical infrastructure, and so on.

True that. We need quarantine passes, only essential travel is allowed. Now, in public transport & enclosed public areas like malls, supermarkets, etc - face mask & face shield are mandatory. The quarantine level can change anytime, depending on the increase in number of CV cases (in my area, we're shifting to GCQ, not-too-strict quarantine) but still with restrictions re: gatherings, eating in restos, etc.

Re: infrastructure, unless they live in/ near the metro areas like Manila, Cebu or Davao, then the internet signal will be weak/ intermittent. Power cuts are common too - so they need to have a generator (or their building/ landlord must have one). Re: hospitals, no money = no treatment. In some small towns, only basic clinics are available.

PI is cheaper than TH, but with the good comes the bad as well. I'm a local, and I can withstand the situation or current restrictions. PI medical system is weak & cannot handle a full-blown pandemic. Majority of the ppl are poor, no $$ for treatment. A covid test costs ~ 70 to 120 usd (depending on hospital) while minimum wage is ~10 usd/ day.

As for the foreigners, if they don't like the current restrictions - they know what to do. But take note that it's 1-way ticket for now. PI isn't granting tourist visas - maybe until early next year. Those with SRRV (retirement visa), marriage, student or diplomat visas may enter, subject to quarantine procedures.

Originally Posted by Shutree

Maybe I am missing a trick here. I have B800k sitting uselessly in a bank so that I can grovel for a new visa each year.

Do I understand that I can take B500k of that for a 5-year renewable visa and spend B300k unwisely somewhere?

When it says 'renewable', is that another B500k?

I shall research further.

Are you unwell?

Your retiree extension fee is 1,900 baht but the annual 800,000 qualifying deposit ( reduced to 400k for 6 months within the currency of your extension ) remains yours throughout the process.

The Elite fee is non-returnable.

Originally Posted by Seekingasylum

Are you unwell?

Your retiree extension fee is 1,900 baht but the annual 800,000 qualifying deposit ( reduced to 400k for 6 months within the currency of your extension ) remains yours throughout the process.

The Elite fee is non-returnable.

Most marbles still more or less in place, thank you.

I know the fee is not refundable. My point is that my B800K is pretty much useless in the bank, I can take some out for a few months, sure, but then I have to put it back in. It is dead money. Maybe next year the retirement visa requirement will rise to B1Mil, or more, there is no certainty from year to year. Particularly around insurance issues.

On the other hand, I can add just B200K and get an 'Elite' visa now, effectively, for 20 years.

If I stay in Thailand until I shuffle off this mortal coil, I don't really care about getting a refund. If I choose to move elsewhere I can still come back at any time, even now with Covid.

That is why I am looking for someone who chose this option to see if they later feel it was a good choice.