Changes to Thai Elite Visa Programme

[PeterRS]

A friend has told me there are two main changes.

1. If you already have the basic Elite visa valid for 5 years which had cost you 500,000 baht, you can now extend it to 20 years for the price of another 500,000 baht.  This compares to the basic price for a new 20 years visa of around 2 million baht.

2. If you are thinking about a Thai Elite visa but do not have one, the price of the basic 5 year one has now been raised to 600,000 baht.

Unlike other retirement visas obtained here, there are no other financial requirements - i.e. no need to keep cash unused in an account or to remit a monthly amount. This information is from someone who has just extended his visa to 20 years. I am assuming it is correct.

[anddy]

On 2/10/2021 at 3:20 PM, PeterRS said:

This compares to the basic price for a new 20 years visa of around 2 million baht.

This is not correct. While there is a 20r/2mln one called "Elite Ultimate Privilege" with lots of extra goodies, you can also purchase a no-frills 20yr/1mln one called "Elite Superiority Extension". While the "Extension" part of the name suggests it can only be obtained as an extension from an existing membership, that is not the case. It can be bought straight away.

It is also important not to call this a "20 year visa", there is no such thing. The Elite visa is always, always only 5 years. The Elite membership ranges from 5 to 20 years, and the membership plans longer than 5 years entitle you to get the appropriate number of 5 year visas sequentially.

[PeterRS]

You are correct anddy in respect of the 20 year membership. This has now been reduced to 1 million baht. A friend has just purchased one.

But your second paragraph is definitely now wrong. If you already have the basic 5 year Elite membership, you can do a one-time upgrade to a total of 15 extra years for a one-off 500,000 baht. There is no longer a need for 5 years increments. My other friend has confirmed he just got his 5 years upgraded to 20 years by paying 500,000 baht.

[Guest]

Is there any reason why typical middle class people should consider the Elite visa ?  

I'd rather keep 800,000 baht in MY bank account than pay 1 million to someone. 

I can see why people with £10million or more might spend some loose change for the convenience.  Or why people who distrust their government (China) would want residency rights in a second country.   Or why those not eligible for a retirement visa  would do it.

But for people eligible for a retirement visa and some moderate wealth, why do it ?     

Note: The question is raised for educational purposes, on the assumption I might be missing something.  No intention to start arguments.

[TotallyOz]

2 hours ago, z909 said:

Is there any reason why typical middle class people should consider the Elite visa ?  

I'd rather keep 800,000 baht in MY bank account than pay 1 million to someone. 

I can see why people with £10million or more might spend some loose change for the convenience.  Or why people who distrust their government (China) would want residency rights in a second country.   Or why those not eligible for a retirement visa  would do it.

But for people eligible for a retirement visa and some moderate wealth, why do it ?     

Note: The question is raised for educational purposes, on the assumption I might be missing something.  No intention to start arguments.

I can help. I am now 50 so it does not apply for me.  But, when it came out, I was going to buy it. I hated the visa runs and no matter how much money I spent in Thailand, I was limited in my stay. For me, when I was 34 just visiting here and knew I wanted to stay a lot here, it would have more than paid for itself in convenience. I can't count the number of bus visa runs I did back in the day!

[Guest]

2 hours ago, Michael said:

I can help. I am now 50 so it does not apply for me.  But, when it came out, I was going to buy it.

I take it that you decided not to buy it ?  
 

[anddy]

On 2/13/2021 at 9:40 AM, PeterRS said:

But your second paragraph is definitely now wrong. If you already have the basic 5 year Elite membership, you can do a one-time upgrade to a total of 15 extra years for a one-off 500,000 baht. There is no longer a need for 5 years increments. My other friend has confirmed he just got his 5 years upgraded to 20 years by paying 500,000 baht.

Oh I didn't dispute that it can be done as a 15 year extension to an existing 5 year one for the 50k payment you mentioned. All I was saying it that in additon to that extension it can also be purchased as a 20 year from the outset for 1mln (as opposed to the 2 mln price tag you mentioned in the original post). Guess I may not have been fully clear on this, hence the misunderstanding

[PeterRS]

Thanks anddy - sorry I mistook your point. You are correct. The 20 year is now 1 million from the get go.