Saturday, November 23, 2024

Thailand elite is the cheapest residency program in the world

Thailand offers one of the cheapest, exciting and most popular residence programs in Asia.

Thailand Elite was initiated according to Article 17 of the Immigration Law B.E. 2522 (2003). It is supported by all government agencies and successful applications are irrevocable. Thailand Privilege Card Company Limited (TPC) is a subsidiary of the Ministry of Tourism and Sport of the government of the Kingdom of Thailand. TPC offers the opportunity to obtain a special Thailand residence visa for foreigners through easy and uncomplicated application process.

Thai Elite Access is the most popular residence program for foreigners in Thailand, requiring $15,800 (THB 500,000) one time payment to secure a five year visa. Thailand elite visa can also be extended to family and allows buying real estate in Thailand.  There are seven types of thai elite cards  each with different set of requirements and visa length ranging from five years to 20 years at various price points. The 20 year visa is ideal for wealthy foreigners and retired/senior citizens who want to live in Thailand for a long time.

 

Thai Elite Visa
Thailand Elite Visa Card – Source: https://www.thailandelite.com/

Pruet Boobphakam, president of TPC, in an interview to Bankgok post, said

The company has 5,487 members from around the world, but only 4,500 are active. The members collectively spend 45 billion baht in Thailand each year, mainly in luxury products such as properties and yachts.

Some members bought a 50-million-baht property in Phuket. Some purchased a yacht valued at 400 million baht,” Mr Pruet says.

Mr Pruet says that Thailand has become a home for the wealthy from all over the world, many from emerging markets like Bangladesh and India.

During first four months of the current fiscal budget year (November 2017-February 2018), the company added 1,040 new members, close to the company’s 1,100 new cardholder goal.

The top three markets for TPC are China (18%), UK (13%) and US (10%). Other major markets are France, Japan, Australia, Bangladesh, Russia, the Netherlands, Switzerland and India.

 

In April 2017, Henley & Partners appointed as Global Concessionaire for Thailand Residence Program to  promote Thailand’s exclusive residence program which gives foreigners authorization to live in the country for up to 20 years.

In an interview to Economist, Marco Gantenbein, Managing Partner at Hanley & Partners (Middle East, Dubai, UAE), in terms of residence-by-investment programmes with minimum physical presence requirements, the Thailand Elite Residence Program and Portugal’s Golden Residence Permit Program are the most popular among Indian nationals.

 

Thai Elite Card Comparison

 

ELITE ULTIMATE PRIVILEGE ELITE FAMILY PREMIUM ELITE SUPERIORITY EXTENSION ELITE PRIVILEGE ACCESS ELITE FAMILY ALTERNATIVE ELITE FAMILY EXCURSION ELITE EASY ACCESS
Validity 20 years Attached to Elite Ultimate Privilege member 20 years 10 years 10 years 5 years 5 years
Single applicant Yes Attached to Elite Ultimate Privilege member Yes Yes Yes Yes Yes
Age >20 Any Any Any Any Any Any
Airport services Yes Yes Yes Yes Yes Yes Yes
Short-haul transfer service (50-80km) Unlimited Unlimited None 18 times/year group usage None Four times/year group usage 24 times/year
Long-haul transfer service (275km) None None None None None Six times/year group usage None
Health check Annual None None Annual None None None
Golf spa (per annum) 24 times each 10 times each None None None None none
Price (Main) THB 2.14 million w/ annual fee Refer to Elite Ultimate Privilege THB 1 million THB 1 million THB 800 000 THB 800 000 THB 500 000
Price (per family member) Refer to Elite Family Premium THB 1 million w/ annual fee NA THB 800 000 THB 700 000 THB 300 000 NA

Elite Easy Access membership

The Elite Easy Access membership is a popular option for businesspeople who frequently travel to Thailand. Along with complimentary limousine transfers, a dedicated Elite Personal Assistant is available to provide support with airport formalities and immigration procedures, ensuring that you reach your destination quickly and easily.

Privileges include:

  • Privilege Entry Visa ‐ renewable five-year multiple entry visa with an extendable one-year stay per each entry
  • Arrival and departure ‐ VIP greeting and assistance by an Elite Personal Assistant on flights (arrivals and departures)
  • Expedited immigration formalities and passport-control processing
  • Access to exclusive arrival and departure lounges
  • Complimentary limousine transfer available 24 times per calendar year from the airport to the individual’s residence or hotel, and from the individual’s residence or hotel to the airport on international flights
  • Government concierge ‐ to assist with the 90-day report, business networking, immigration service processes, opening a bank account, obtaining driver’s license
  •  King Power duty free benefits and special discounts at hotels, dining establishments, shopping centers
  • Member Contact Center: 24-hour English service with Korean, Mandarin, Japanese service available from 6.00 am–9.00 pm (Bangkok standard time ‐ UTC +7)

Thailand Elite Restricted countries:

Please note, that the following nationalities currently are not to acquire the Thailand Elite Privilege Entry Visa: North Korea, Afghanistan, Nepal, Pakistan, Sri Lanka, Algeria, Iraq, Egypt, Iran, Lebanon, Libya, Palestine, Syria, Yemen, Central Africa, Cameroon, Congo, Equatorial Guinea, Guinea, Ghana, Liberia, Nigeria, Sao Tome and Principe, Sierra Leone, Somalia, Sudan, Chad, and Venezuela.

 

Thailand Permanent Resident

To become a Thailand permanent residence,  you should have held non-Immigrant visa for at least three consecutive years prior to the application submission.

Thai citizenship

A person who wishes to apply for Thai citizenship must hold Thai permanent resident status for no less than 10 consecutive years. Annual quotas for naturalization will be announced by the Ministry of Interior.

FAQs

Q: What is Thailand Elite?

• Thailand Elite is a long-term residence visa program managed by Thailand Privilege Card Company Limited (TPC). TPC is a 100%-owned special- purpose company under the Ministry of Tourism and Sport. The purpose of Thailand Elite is to promote Thailand to foreigners through the issuance of a special residence visa, giving them the right to reside in Thailand for up to 20 years.

TPC registered its incorporation under the Civil and Commercial Code on 29 August 2003, having the Tourism Authority of Thailand as its sole shareholder and having the status of state enterprise under the Budget Procedures Act B.E. 2502 (1959).

Thailand Elite was initiated according to Article 17 of the Immigration Law B.E. 2522 (2003). It is supported by all government agencies and successful applications are irrevocable. The program has had over 4,000 approvals since inception.

Q: What are the qualifications required of the applicant?

• The applicant must have and maintain to have the following qualifications:

  1. Not having been sentenced by a judgment to imprisonment in any countries except for an offence committed due to negligence;
  2. Not having been adjudicated bankrupt;
  3. Not having been declared as a person of unsound mind, incompetence, or quasi-incompetence;
  4. Being allowed to stay in Thailand in accordance with the immigration laws or any related law of Thailand;
  5. Holding a foreign passport; and
  6. Being sui juris under Thai law and being at the age of or over 20-years-old

Q: What are the Thailand Elite Residence Program options?

There are currently seven program options for the Thailand Elite residence visa. All options have common features such as airport immigration express services (elite personal assistance through immigration and access to executive lounges), access to a 24-hour contact center, and government concierge services.

The main differences between the program options are the term of the residence visa (either 5, 10 or 20 years), the nature of the airport transfer services, and other complimentary services included in the package.

Q: What are the key factors that the applicant must consider when deciding on which program option is best for them?

The key factors that the applicant must consider when deciding on which program option to select are:

  1. Does the applicant require a residence visa for 5, 10 or 20 years?
  2. Is it a single applicant or multiple/family application?
  3. What additional benefits and complimentary services are required by the applicant?

Q: What are the costs involved to obtain the Thailand Elite residence visa?

The application fees range from a non-refundable payment of THB 2,000,000 (exclusive of VAT) with a 20-year validity; THB 1,000,000 (inclusive of VAT) with a 10-year validity; to THB 500,000 (inclusive of VAT) with a five-year validity.

Q: In relation to the Elite Ultimate Privilege program option, what is the 20% transfer fee?

• Successful applicants of the Elite Ultimate Privilege program are allowed a one-time transfer of the remaining validity of the residence visa to another person. A one-time transfer fee is payable at 20% of the prevailing application fee at the time of the transfer to Thailand Elite. Currently, the transfer fee is THB 400,000 (20% of THB 2,000,000 excl. VAT). After transfer, the term of the visa is subject to the remaining period.

Q: In relation to the Elite Easy Access program option, what is the upgrade option?

• Elite Easy Access is designed as a trial option for new prospects. Once the successful Elite Easy Access applicant gets familiar with and enjoys the Thailand Elite Residence Program and its benefits, the applicant is allowed to upgrade to the Elite Ultimate Privilege option for a fee.

Q: What is the difference between the Elite Ultimate Privilege and the Elite Superiority Extension program?

• Both programs provide the applicant with a 20-year residence visa and airport express services through immigration. The Elite Superiority Extension program, however, does not allow for the one-time transfer of the visa nor does it provide the complimentary services such as golf, spa treatments and the annual health check (which is included in Elite Ultimate Privilege). The Elite Superiority Extension program does not have an annual fee payable and there is no age restriction for applicants. Elite Ultimate Privilege requires a THB 20,000 (approximately USD 600) annual fee (excluding VAT) and applicants must be 20 years or older.

Q: What exactly is included in the complimentary services provided as part of the Thailand Elite residence visa?

• The services range from expedited immigration, visa processing, and airport transportation services to complimentary golf, spa treatments, and annual hospital check-ups; as well as a host of shopping, hotel, resort, and dining experiences. The exact nature and quantity of the complimentary services will depend on the program option chosen. This can include:

Airport services

Successful applicants will be welcomed by an Elite Personal Assistant (EPA) at designated Thai airports who will assist with all immigration formalities.

Transfer services

For all international flights, the applicant can make reservations with the Thailand Elite Contact Center for a short- and/or long-haul transfer service. Reservations must be made 48 hours before arrival in Thailand.

– The short-haul distance is up to 80 kilometers from the airport

– The long-haul distance is up to 275 kilometers from the airport

Health-check

One annual health check-up is provided at participating private hospitals.

Golf/spa

Applicants can enjoy free or discounted golf or spa treatments at participating golf courses and spa centers.

Q: After obtaining the Thailand Elite residence visa, how can the successful applicant use the privileges and benefits?

The successful applicant may simply send a request for service to the Thailand Elite Contact Center at [email protected], or via +66 (0) 2352 3000 (24-hour service, seven days a week) in advance, as per the Thailand Elite service policy. The contact center team will coordinate with the service providers for reservation and service confirmation, which will be returned to the successful applicant within 24 hours.

Q: How complicated is the application process?

The application process and required documents for the Thailand Elite residence visa are not onerous. The most important documents are the application form, a copy of the applicant(s) passport and color photos of the applicant(s). For family applications, proof of the relationship between the main applicant and family members must be included in the submission. The applicant must sign on all pages of the application form.

Q: What documents are required to apply for the Thailand Elite residence visa?

The applicant must fill in and sign an application form and provide the following supporting documents:

Copy of each applicant’s passport biodata page, signed by the applicant*

Copy of birth certificate**

Copy of marriage certificate**

Passport-size photo or digital photo not exceeding 2MB****

The passport must have a minimum validity of six months and three blank pages

** This is only required for family applications to prove the relationship to the main applicant

*** Photo requirement: one inch (3cm x 4cm) in size; neutral color background; no-teeth smile; straight, facing the camera; no sunglasses; proper attire

All documents must be translated into English where applicable and such translations must be notarized.

Q: What are the signature requirements in terms of the application forms?

 Dependents who can write must sign on the designated space on the application form only. Dependents who cannot write, for example children, must provide a fingerprint on the signature area (right thumb). The parent (main applicant) must then initial upon the fingerprint.

Q: Is there any quota or restriction on the nationality of applicants?

• There are no quotas.

Please note, that the following nationalities currently are ineligible to acquire the Thailand Elite Privilege Entry Visa: North Korea, Afghanistan, Nepal, Pakistan, Sri Lanka, Algeria, Iraq, Egypt, Iran, Lebanon, Libya, Palestine, Syria, Yemen, Central Africa, Cameroon, Congo, Equatorial Guinea, Guinea, Ghana, Liberia, Nigeria, Sao Tome and Principe, Sierra Leone, Somalia, Sudan, Chad, and Venezuela.

Q: What is the processing time for the application?

• Approval will be given within 30 days from application submission.

Q: What are the steps in the application process?

The process overview is as follows:

  1. Submission of completed and signed application form and relevant supporting documents (seven days for processing and approval) — issuance of approval and payment request
  2. Make payment (bank transfer, credit card) and submit proof of payment (allow seven days for full payment transfer) — issuance of welcome letter from Thailand Elite
  3. Provide seven days advance notice before visiting Thailand — visa affixed at designated international airports (Bangkok Suvarnabhumi, Phuket, Chiang Mai)

Q: Can the application fee be paid by a third party?

Yes, the application fee can be paid by a third party. The relationship between the applicant and sponsor must be disclosed and supporting documents may be requested.

Q: How does the applicant obtain the Thailand Elite residence visa?

The residence visa can be affixed to the successful applicant’s passport at various locations:

  • –  Overseas Thai embassies or consulates*
  • –  Immigration bureau (for foreigners living in Thailand)*
  • –  Designated airports (BKK Suvarnabhumi airport, CNX Chiang Mai airport, and HKT Phuket airport)**

    * Processing time may take up to 30 days at the embassy

** Seven days advance notice must be given prior to getting the visa affixed at the airports. This is the most preferred and efficient option

Q: What happens to the residence visa affixed when an applicant’s passport expires?

The Thailand Elite residence visa has a five-year validity and will be renewed according to the validity of the Thailand Elite Residence Program option chosen. The residence visa will be affixed to the applicant’s passport according to the remaining validity of the passport. Should an applicant’s passport expire prior to the five years, any years remaining on the residence visa will be transferred to the next passport. This is according to the immigration regulations of the Thailand Immigration Bureau, whereby if the validity of the successful applicant’s current passport is not at least five years, the Thailand Elite residence visa will be affixed in accordance with the expiration date stated on the passport and the remaining validity will then be affixed to the new passport once obtained. Thailand Elite requires at least three blank pages of the current passport. For example:

  • –  Elite Easy Access program option with five years’ validity
  • –  Passport expiry: 30 September 2020
  • –  Visa affix date: 1 April 2017
  • –  Validity of residence visa on passport is from 1 April 2017 to 30 September 2020 (i.e. 3.5 years)-  The remaining validity of 1.5 years will be affixed on the new passport at designated locations

Q: How long can a successful applicant stay in Thailand?

Successful applicants can stay in Thailand as long as they wish according to the validity of the program option selected.

Q: As a non-Thailand Elite residence visa holder, if I’m overstaying in Thailand, can I apply for a Thailand Elite residence visa so I do not have to leave the country?

No. An individual is not eligible to acquire a Thailand Elite residence visa in this case. The individual is required to leave the country if they are overstaying on their current entry.

Q: Can a successful applicant stay continuously in Thailand for over one year?

Yes. Successful applicants that remain in Thailand for a continuous stay of more than 365 days per entry will need to pay an Immigration Bureau fee of THB 1,900 (approximately USD 60). Applicants must contact

Thailand Elite 14 days in advance in order for a Thailand Elite representative to proceed to the Immigration Bureau on behalf of the successful applicant.

Q: Is there a minimum visit/stay requirement to maintain the Thailand Elite residence visa?

No, there is no requirement in any circumstances.

Q: What is the 90-day report and does the successful applicant need to present themselves for the 90-day report?

  • A 90-day report is a mandatory protocol for all foreigners living in Thailand to physically present themselves at the Immigration Bureau for security purposes.
  • For Thailand Elite residence visa holders, the applicant merely needs to inform TPC 14 days in advance of the intention to stay over 90 days and request TPC to submit the 90-day report on their behalf. To do so, the Thailand Elite visa holder must hand-deliver or courier his/her own passport to TPC’s head office in Bangkok. No additional costs are incurred.

     

Q: Can applicants buy real estate in Thailand?

Yes, applicants can own condominiums in their own name. If applicants wish to acquire land and build a house, they can obtain a long-term lease on the land (for up to 30 years). Applicants will need to apply for a construction permit to build the house in their own name. This way applicants can own the house and have a secured long-term lease on the land.

Q: Can applicants buy a car in Thailand?

Yes, successful applicants can buy a car in Thailand. The Thailand Elite residence visa includes government concierge services that assist with the application for a driver’s license in Thailand.

Q: How can an applicant get a driver’s license in Thailand?

A driver’s license can be obtained from the Department of Land Transport. The necessary documents are as follows:

  1. Passport with Thailand Elite residence visa, both original and two photocopies
  2. Good health condition with medical examination report within one month prior to application
  3. Two color photos; straight-facing, no glasses or hat
  4. International driver’s license or other driver’s license, both original and two photocopies (if any)

All documents must be translated into English and notarized.

The Thai driver’s license application process includes:

  • –  Paper test
  • –  Physical test
  • –  Mandatory instruction session for two hours

–  Application fees of USD 50

Q: Can applicants open a bank account in Thailand?

Yes, successful applicants can open a bank account but only if they have a residential address, either purchased or leased, in Thailand.

Q: What coverage can a local health insurance provide to clients?

• There are many international health insurance companies available in Thailand, such as Allianz, AXA, Generali, and AIG. A package providing world- class private hospital care in Thailand starts from an annual premium of USD 2,000 with maximum lifetime coverage of USD 2.25 million for an insured 45-year- old. The cost of annual premiums can be as low as USD 500; however, these are not recommended because top private hospital charges are higher than the coverage by low-premium insurance.

Q: Can the applicant’s children go to school in Thailand?

Yes, this is possible subject to the specific school’s own rules. Thailand has many well-known international schools whose graduates include prominent people such as a former US Secretary of Treasury, Olympic athletes, actors, artists, and singers.

Q: Can the applicant work in Thailand?

The Thailand Elite residence visa itself does not entitle applicants to work in Thailand. The applicant still needs to apply for a Non-Immigrant – Business visa and a work permit from the relevant government authorities. However, the successful applicant can obtain a Non- Immigrant – Business visa and then apply for a work permit.

Q: The Non-Immigrant – Business visa is canceled upon receiving the Thailand Elite residence visa. Is this true?

Yes. All existing Thai Non-Immigrant visas will be canceled if an applicant subsequently applies for and is granted a Thailand Elite residence visa. The Thailand Elite residence visa is considered as the highest privileged visa for foreigners. However, once receiving the Thailand Elite residence visa, the person can then re-apply for a Non-Immigrant – Business visa followed by the work permit in order to be able to work in Thailand.

Q: What are the procedures if the applicant wants to establish a company and become a director?

• There are no restrictions for applicants who want to set up a company in Thailand. However, in most cases, a foreign individual/entity cannot hold 100% ownership and conduct business in Thailand unless the company applies for Foreign Business License under the Foreign Business Act. Otherwise, the applicant can apply for business promotion by the Board of Investment Thailand, which allows 100% foreign ownership or gives incentives — such as tax exemption — on many promoted businesses. The applicant can become a director of the company under the terms and conditions of the business license.

Q: What is the length of stay an applicant needs to comply with to get permanent residence status?

A residence visa obtained through the Thailand Elite program does not lead to either permanent residence status or Thai citizenship.

Q: What are the rules to become a Thai Permanent Resident (PR)?

To apply for PR, the applicant must have held a Thai Non-Immigrant visa for at least three consecutive years prior to the application submission.

Q: What are the rules to become a Thai citizen?

A person who wishes to apply for Thai citizenship must hold Thai permanent resident status for no less than 10 consecutive years. Annual quotas for naturalization will be announced by the Ministry of Interior.

Q: What are the consequences regarding individual income tax?

In terms of the taxation in Thailand, individuals residing in Thailand may be subject to personal income tax in Thailand, depending on the source of income and the duration of their stay in the country.

An individual is deemed to be tax resident in Thailand only if he/she stays in Thailand for an aggregate period of not less than 180 days within a calendar year. Any Thai or foreign individual who derives assessable income from sources in Thailand or for work performed in

Thailand is liable to pay personal income tax, whether or not such income is paid within or outside Thailand.

In addition, a resident of Thailand is liable to personal income tax on assessable income derived from sources outside Thailand and remitted into Thailand in the same year in which such income is derived (remittance in the following year is not subject to tax).

The same logic applies to all types of income (including pensions, capital gains, interest, etc.). They are tax free if they are earned abroad (from foreign sources/ companies/shares) and not brought into Thailand within the same tax year.

Q: Can an applicant obtain a tax resident certificate or tax identification number from the Tax Department in Thailand?

Successful applicants can get a tax resident certificate (TRC) only when they accumulatively spend more than 180 days in Thailand in any tax (calendar) year.

Applicants that receive income in Thailand (e.g. rental income from an investment property) can declare such income in that calendar year during the tax filing period (1 January–31 March of the following year) and a tax identification number (TIN) can be obtained.

Q: What is the difference between ‘Assisted Application’ and ‘Apply Yourself’?

We provide two different application processes. With the ‘Assisted Application’ you can take advantage of a convenient, fast and simple application process directly supported by our staff. Feel free to contact your personal guidance via email or call.

The ‘Apply Yourself’ option is apparent in the dashboard section, where all five required process steps are clearly mentioned. Feel free to complete each online process step yourself. Both application process options are free of charge.

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

Related Articles

Stay Connected

279FansLike
3,983FollowersFollow
732FollowersFollow
- Advertisement -spot_img

Latest Articles