You Can Buy Elite Residency in Thailand for $60,000 — and the Government Will Even Provide a 'Concierge' Service'
http://www.travelandleisure.com/travel- ... s-thailand
It costs $60,000 for 20 years residency, along with a $600 a year membership fee.
Included in the price is a state-sponsored concierge program, entitling members to VIP access to government agencies dealing with immigration, driving licenses, and work permits.
What do you think?
Elite Residency in Thailand for $60,000
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fountainhall
Re: Elite Residency in Thailand for $60,000
Virtually a scam! This programme was introduced in 2003 by the Thaksin government as a way of attracting wealthy foreigners to come and stay in Thailand for vacations without many of the hassles ordinary tourists have to go through. It promised lifetime benefits but resulted in just 2,543 members and ended up with losses of Bt. 1.27 billion. It failed spectacularly. It was then scrapped.
However, those who had paid the Bt. 1,000,000 membership fee got lawyers on board. End result, the scheme had to be relaunched with great fanfare with a consequent increase in the cost of membership. This most recent launch is the 3rd or 4th in its history and my view is it's unlikely to be any more successful than its predecessors - unless it is being marketed to those who do not understand how easy it already is to enter and stay in the Kingdom if you are over 50.
For US$60K + VAT and $600 + VAT per year, here are some of the questionable benefits -
1. You have to renew the visa every 5 years.
2. You have to do the usual 90 day reporting if you remain in the Kingdom for longer.
3. You get fast-track entry and exit. Do you really think anyone with that kind of cash needs that? They'll presumably be in business or first class or travelling in a private jet when they already get this automatically.
4. Lounge access on entry and exit. Ditto as above.
5. Limited number of golf green fees and spa treatments plus one annual health check.
6. Concierge service. Fine, if they can ever get through!
Tot up the value and it basically becomes a scam - unless you are a youngish wealthy individual with a family. Over 50s qualify for the Retirement visa which costs Bt. 1,900 annually with an addition Bt. 3,800 for the annual multiple reentry permit. The only financial qualification is having either Bt. 800,000 in the bank 90 days prior to renewal or guaranteed monthly income of 1/12the of that. For those unwilling to help themselves, a lawyer can handle the other issues like annual visa renewal, driver's licence applications etc. Total cost? A minute fraction of the Elite programme cost.
However, those who had paid the Bt. 1,000,000 membership fee got lawyers on board. End result, the scheme had to be relaunched with great fanfare with a consequent increase in the cost of membership. This most recent launch is the 3rd or 4th in its history and my view is it's unlikely to be any more successful than its predecessors - unless it is being marketed to those who do not understand how easy it already is to enter and stay in the Kingdom if you are over 50.
For US$60K + VAT and $600 + VAT per year, here are some of the questionable benefits -
1. You have to renew the visa every 5 years.
2. You have to do the usual 90 day reporting if you remain in the Kingdom for longer.
3. You get fast-track entry and exit. Do you really think anyone with that kind of cash needs that? They'll presumably be in business or first class or travelling in a private jet when they already get this automatically.
4. Lounge access on entry and exit. Ditto as above.
5. Limited number of golf green fees and spa treatments plus one annual health check.
6. Concierge service. Fine, if they can ever get through!
Tot up the value and it basically becomes a scam - unless you are a youngish wealthy individual with a family. Over 50s qualify for the Retirement visa which costs Bt. 1,900 annually with an addition Bt. 3,800 for the annual multiple reentry permit. The only financial qualification is having either Bt. 800,000 in the bank 90 days prior to renewal or guaranteed monthly income of 1/12the of that. For those unwilling to help themselves, a lawyer can handle the other issues like annual visa renewal, driver's licence applications etc. Total cost? A minute fraction of the Elite programme cost.
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mahjongguy
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Re: Elite Residency in Thailand for $60,000
Based on the hundreds of postings on ThaiVisa, I can tell you what the consensus is.
- If you are wealthy and don't mind paying a lot for some perks, then maybe it's appealing.
- If you are under 50yo and not married to a Thai, it is now the only way to stay in Thailand long term without extreme hassles from Immigration.
- If you qualify, via age or marriage, for a Long Stay Visa, then it would be silly to pay for Thai Elite. Beyond silly.
Note that this is a special visa, and nothing at all like Permanent Residency status. You still can't buy property, you can't get a work permit, and you still have to day 90 day reporting.
- If you are wealthy and don't mind paying a lot for some perks, then maybe it's appealing.
- If you are under 50yo and not married to a Thai, it is now the only way to stay in Thailand long term without extreme hassles from Immigration.
- If you qualify, via age or marriage, for a Long Stay Visa, then it would be silly to pay for Thai Elite. Beyond silly.
Note that this is a special visa, and nothing at all like Permanent Residency status. You still can't buy property, you can't get a work permit, and you still have to day 90 day reporting.
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Up2u
Re: Elite Residency in Thailand for $60,000
USA has a similar visa program for the wealthy but the costs is $500,000.
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mahjongguy
- Posts: 756
- Joined: Thu Aug 05, 2010 1:07 pm
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Re: Elite Residency in Thailand for $60,000
Not really so similar. You can work, buy property, it leads to permanent residence, and eventually you get your money back.Up2u wrote:USA has a similar visa program for the wealthy but the costs is $500,000.
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bobsaigon3
Re: Elite Residency in Thailand for $60,000
You're talking about the EB5 Regional Center Program? Yes, 500K to a developer, with approval for Green Card if the project creates ten jobs and is still functioning 2 years after your application, but absolutely NO guarantee that you'll make a profit or get your money back. The typical investor just wants the Green Card for self, wife and minor children, does not rely on any financial rewards from the program. Investor is not involved in the operation of the Regional Center Project, can live anywhere in the US, can buy property. Most of the EB5 visas have gone to Chinese citizens.