MehrK

18 hours ago, kmw said:

Yes from what I know the PE Visa is not well recognized with the banks, hence the reason thai elite do the booking and send a representative to help opening an account, the friend of mine who has the 5 years sometimes has issues with immigration, as sometimes the io just stamps the 30 day exempt,(aus passport) he said it's not usually an issue as hes out of Thailand usually before then, but he has to tell the io and say "elite" in order to get the yearly stamp, 

1 hour ago, steve73 said:

I'm hearing of more and more instances where the airport I/O stamps a 30 date PtS, for any types of visa..  Just a few days ago, a friend of mine with a Non-O-A, noticed his most recent entry in Oct was only stamped for 30 days - now obviously "expired" so technically on "overstay".  His local I/O told him he needed to return to the arriving airport (DM) to get it rectified there...  I thought any I/O could "repair" an incorrect stamp, and a return to DM is pretty inconvenient for him....

 

It always pays to check it at the counter before you leave...  and that will apply to the Elite as well..  

Very good thing to be mindful of, you two. Thanks for sharing. I would HATE to have to go back to try and get a stamp fixed, very inconvenient. 

Regarding the bank account. The service to have a representative come help open it, should be free. Definitely will be having them help with that. I can't expect every employee and bank to know about the program and instantly bend what they think are their rules for me. However, the Thai Elite member team probably has branches they deal with that are already hip to the program/process, making it a breeze.

We'll see.

On 12/10/2018 at 10:23 AM, JayBird said:

Dear OP

I was in a similar situation to you, age, and everything. I thought of doing SETV in Singapore, and KL, as i visit there often. However they were not interested in giving visa even if I'm only in Thailand 6 months a year.

I did some basic maths. If I planned to stay here at least 7 or 8 years. That would be two 5 year visas, which would cost 1M. By paying 1m upfront, instead of 500k, I would get the option to stay an extra 10 years without an additional fee.

This also gives me the benefit that if fur any reason I need a prolonged stay (sickness, accident, avoiding riots in France) I can do so without worry about overstay or doing border runs.

There are also some useful frills:

1) Correct stamp when entering, checked by staff and sorted out on spot if IO make a boo boo
2) Banks, immigration, government offices, police, etc, are happy when they see a 5 year visa in your passport.
3) 90 day report in person is done so quickly I sometimes don't need to sit down.
4) if needed, you can stay in the country without leaving for 20 years.
5) Depending on when, you may lock in a good exchange rate, as the price is in baht and does not change according to world currencies.

Also, have not heard a single story of anyone having any problems.

Sent from my ASUS_Z017DB using Thailand Forum - Thaivisa mobile app
 

Thanks for sharing Jaybird. Interesting about KL, I got there often and didn't think there would be issues getting SETV's. Either way, seems like the elite is the way to go.

I submitted my application with the 20 year 1m baht one ticked off. I still can change my mind to 5 year while they're approving my app. We'll see how I feel at the time my app is approved lol.

4 hours ago, charles70 said:

Interesting on Elite Visa, I have a founder life one for sale as do not play golf anymore, thai massage too tough for the old body, no travel, offers?

PM sent.

3 minutes ago, gk10002000 said:

How often do major elections happen?  Are you serious?  Have you not researched Thailand at all?  The country has had more coups, junta takeovers, the last few decades than most countries have in their lifetime.  Dodgy, courts, large corruption at many levels, so many individuals and businesses can be targeted for reasons you never saw coming.  Step with care.  Things can work out, and many have made things work out.

To be honest, I really don't pay much attention to politics here or in the US. Usually just big tax changes like the recent tax bill in effect this year in the US. It seems like business is doing well here and the city is bustling. I can't imagine things falling to pieces after just 1 election, but as mentioned, I haven't done much research on those aspects. I probably should.

12 hours ago, steve73 said:

Many good replies, so I'm not sure this post will be contributing anything else.

 

I'm 58, been here 12 years, initially using 12 month ME Non-O (no longer available), which I've since been extending once over 50 using the 800k in the bank (usually takes me a full morning for travel/bank/IO, so no real hassle - yet!).. I usually keep just over 800k all year round as my "emergency" slush fund, and keep it topped up whenever the GBP rate looks favourable (using Transferwise).

 

I recently ran a DCF model to compare the 5(+1), 20(+1), against my current method. In summary,  (@10%) the 800k is discounted to "virtually" nothing after 21 years, and the other annual costs make it broadly similar to the 1MM cash up-front cost.  4 (or even3) x 5(+1) is less value.  

So my conclusion was I'm happy to proceed the way I am since the benefits of having some readily available Thai baht offsets any slight economic advantage.  I don't have Health Insurance (too many preconditions), but if I was to run down my 800k throughout the year, then this might be slightly more in my favour.

 

BUT, for the OP at age 36, the retirement extension (RE) option is not available, and the decision is perhaps easier.  Unless getting married (and I have met a few older guys who have done this simply to be able to get the "RE" cheaper), the Elite is the only way to stay here long term hassle free.  

 

At 36, the option of 20(+1) and then RE is slightly more expensive than 5(+1) x 2 (almost, followed closely by a RE, or even 5(+1) x 3 then RE, but in reality, the cost difference is marginal, and the other benefits (that may of may not be of value to each individual), makes it difficult to accurately compare.  Also, the investment returns you can achieve on the other 1/2MM for the first 6 years makes a huge difference.

 

But at 36 with adequate resources to provide "income" without working here, does suggest money is not really a consideration.

 

Also, since we don't know what the future holds, nor when (& by how much) price increases of either the Elite or RE's will occur, these unknowns cannot be fully evaluated.

 

My suggestion to the OP would be to go for the shortest commitment. 

After all, in 6 years time Thailand MAY have changed beyond all recognition, and perhaps none of us will want to be here.

 

I wish the OP good luck whichever way you decide, (and part of me wishes I was in your position 22 years ago)..

 

 

Thanks for taking the time to reply. Your post definitely contributed great value to me and I appreciate it very much. Pretty nifty that you top up the fund whenever the GBP looks favorable, nice. 

Thanks for sharing your info/data on the calculations you made. "Also, the investment returns you can achieve on the other 1/2MM for the first 6 years makes a huge difference." Makes a good case for the 5+1. As you mentioned, we don't know what the future holds as far as price changes for the elite or any currency changes. Same about the point that Thailand could change so much that it becomes less desirable to live than other countries. 

There is a potential that 6 years down the line I freaking love this place even more, the the exchange rate is less favorable for USD to baht, and the cost of the elite goes up ????

I feel like this post has given me a lot of thoughts to ponder on while I decide. Thanks again.

6 hours ago, trawler said:

For what it's worth,have one of the old style TE visa for life and that was in 2007,still works fine and don't have the worries of immigration visits as also travel regionally enough that I am never here for more than 90 days.

While it's a chunk of cash it does give peace of mind in case the rules change on retirement or any other visa.

Yes it's a sunken cost but have made use of the services and will continue to do so????

So personally I think it's worth or it.

Cheers

 

Really nice to here. Thanks for sharing. You had me at "peace of mind" ????

4 hours ago, HerbalEd said:

You're not a 'big boy" yet if you think today you know what your life will be like 10, 15 or 20 years from now. Also, few Western expats last very long in their newly-adopted country. They either become bored or disillusioned with expat life, or their life takes an unanticipated turn.  

 

BTW, you should get some professional guidance on your USA tax obligations. It's very unlikely you'll be able to legally not pay USA taxes -- no matter where you live in the world. That is, if you want to maintain your USA citizenship. 

As mentioned, I was honest about not knowing what life would be like even 5 years from now. Big boy decisions give direction and planning to that outcome though. I am exactly where I am today, financially, physically and in my freedom to travel, that I planned more than 5 years ago. It is true though, it can becom easy for things to change and anything can happen. I've also had some friends pass away in the past 5 years ???? . This can happen in Thailand and anywhere else in the world also. Either way, I believe decisions I make now will affect my future.

Thanks for bringing up the tax considerations, far too many US Citizens don't know anything about this. I'm well versed in my US and international tax obligations. Even as a US Citizen, it is favorable to be in a country that doesn't tax it's tax residents on worldwide income. Appreciate your response Ed!

4 hours ago, Thaidream said:

At age 36-  I would purchase a 5 year plan.   You are too young to depend upon Thailand as a permanent home due to many factors that have already been mentioned. 

 

I, personally, would do nothing  and make no investments or spend a large amount of money on anything until after the  election set for February 24, 2019.  There is way too much uncertainty in the air until one sees  how the next government is structured and if it will be accepted.

 

Until the election situation is settled- it will be difficult to assess the exchange rate.  According to a few economist projections I have read is that the US Dollar is in line for a big correction which will bring the Dollar down to around 28-29 exchange rate to the Baht.

 

Also, depending on your liquidity and total investment- you need to look at what your  potential exposure is over 5 years and then 20 years. At Age 36-45-  if necessary you could return to work at a nice salary. After the age of 50-  that won't happen. 

You don't ever want to end up in Thailand being hurting for money or living month to month. When one is poor- this country will  eat you alive.

 

I wish you well...

I wasn't aware there was a major election on Feb 24 that could change things that drastically. How often does this happen? Good thing to be mindful of.

"Also, depending on your liquidity and total investment- you need to look at what your  potential exposure is over 5 years and then 20 years. At Age 36-45-  if necessary you could return to work at a nice salary. After the age of 50-  that won't happen. You don't ever want to end up in Thailand being hurting for money or living month to month. When one is poor- this country will  eat you alive."  - Warning/advice understood and I'll definitely remember that. Thank you very much.

4 hours ago, tpkhk said:

I too got excited over the same post from Sunbelt - ran it by a lawyer who is active in this field - who said NO WAY it would fly (ie. legally permit employment for a foreigner without a Work Permit for an Amity Treaty company).  I was the fourth or fifth person to quote the same article.  Sunbelt is credible - wonder what they themselves say now.

 

 

Also, on another matter - the 90 day reporting - each time you travel & return back, that 90 day clock starts ticking.  With the amount of travel you do, you'll probably rarely have to go in person &/or even hand it to TE for processing.... unless you stay here for 89+ continuous days.

Ah interesting to know about the the Amity and the work permit. I mean they were quoting an official statement in that article, right? Either way, guess it would still be doable via the method you mentioned.

True on the 90 day reporting. It's kind of an incentive for me to plan little vacations to not have to report. The difference would be huge doing that on the TE visa vs doing visa runs. No stress, hassle free immigration both in/out. Nice.

15 hours ago, Tom9999 said:

The question is not really 5/(6) years versus 20 Years.

If you can see yourself here or returning to Thailand regularly 6 years down the road from today then go for the 20 Year Visa.

In 6 years you still do not qualify for any other Visa, unless getting married to a Thai.

 

So if you are likely to purchase a second 5 Year TE Visa in 6 years then by purchasing directly a 20 Year Visa you get 8 Years "free".

This will bring you over the threshold of 50 years and you can continue on a Non O.

 

If you decide life is better somewhere else and you have a bigger earning power there then you can afford having paid for the Visa.

 

So ask yourself: Is it likely that I still want to spend a significant time each year in Thailand 6 years from now? 

 

PS:

I am over 50 and have a 20 Year PE Visa, purchased for 1 Million THB 2 years ago.

I can afford it, still working abroad and like being able to come and go like a local.

Good point on picturing whether or not I'd want to spend a significant amount of time each year in Thailand, 6 years from now. As of right now, the answer is yes. Hopefully it doesn't wear on me I continue to feel this way! I do like the fact that the 20 year would put me over the 50 year retirement age and continuing as Non O. Thought it's a long ways from now, it does give me that option should I decide to stay here that long. 

Thanks for sharing that you're on the Visa even after 50 because of being able to go abroad and come/go like a local. I like that convenience as well. 

14 hours ago, Ctkong said:

Hai mehrk, I would like to give my two cents worth of advice here. 

But first I would like some clarification from you. You mentioned that you are 36, earning enough passive income from home and single. You are not planning to earn some money working at the side. Have you thought about the future when you set up a family with somebody? I once was also free and easy. But now saddled with a family, the expenses seem to be flying off the budget. Do you think your passive income is going to be on the upward trend and able to cover future bigger expenses ? I have heard a number of hard luck stories of foreigners who had to cut short their retirement plan due to unforeseen circumstances like falling exchange rate, health insurance and bad investments. Always hope for the best and expect the worst. 

Assuming all are rosy , then I would like to give some information for my missus’s 20 year TE visa. My missus ( rather girlfriend) is a Myanmar chinese . She used to obtain various guises of visa be it Education visa, work permit for past 10 years. She is now 33. I find that the authorities are getting more and more stringent in the visa department.  It is a matter of time that they closed up all the loop holes for long stay here in Thailand. So I decided to buy her a 20 year TE visa. The cheaper version without the frills at 1 million baht. TE is a whollly owned company of TAT so it may be a statutory board of TAT?  I think TE is not going to disappear in future because the thailand government is committed to welcome ‘rich spending foreigners’ into their country. It is to their advantage to honor the contract too because the so called rich folks can relocate to any of the ASEAN countries if they wanted to.  Given the economic growth of the competing neighbors, there would only be more competition for quality tourists. 

90 days reporting can be handled by the TE office for Bangkok, chiangmai and Phuket areas only if I am not mistaken. Last week of the 90 days, passport must be submitted to the office on Monday or Tuesday and collected on Friday. 

You would also be given priority in opening bank account as well as credit card application.  Credit amount of credit card is collateralled with the fixed deposit you put in.  Platinum card can be obtained. 

Many posters had given the pros and cons of 5/20 years package so I would not dwell on that.

my final parting advice is if you can afford to part with 1 million baht with little pain, then it is the way to go. You will enjoy many years of convenience it provides. By the time 20 years( 21 years if use extension after the final year)  is up, you are already 56/57 so time to use retirement visa .

if you were to decide to cut short your stay in Thailand and had to write off the money invested in TE visa, I would think that the balance of the small amount is the least of your worries. You would have more important issues to deal with then. 

Life is a gamble. Who can foresee the future? But the price of the  5 years TE visa( though fully loaded)  is already half the price of the  20 years no frills TE visa. Take a gamble and roll the dice...

 

 

I haven't done much family planning and am still on the single man life at the moment. I do know that I want to raise a family "one day", but not sure when. Most likely between the ages of 40-45 ????. I do believe my income will be going up over time and should be able to cover future bigger expenses, God willing. I've heard a lot of stories of people that have had that happen to them, here and back in the US, it's a scary thought. One good thing about trying to bounce back from something like, while in Thailand, is being in a place where things ARE cheaper. I'm pretty conservative with my investments and business and hope things will go well down the road also. Great thought experiment regarding the family and worst case scenarios though, Thank you.

Thanks for sharing about the GF, interesting. I've heard mixed views on the TE visa, some believe it for sure will stay around, others don't think so, it's hard to gauge for myself. I have a feeling that my stance resonates more with what you're saying about it. I agree, that it's in their best interest to at LEAST see previous sold TE visa's through to the end. But who knows if they will be logical about things if things don't go well. 

"if you were to decide to cut short your stay in Thailand and had to write off the money invested in TE visa, I would think that the balance of the small amount is the least of your worries. "This really helps put things in to perspective. At that point the $15k USD about for an extra 15 years wouldn't be the biggest plate on my mind, because it is already a past cost and the money will already have been spent. 

I appreciate your comment and it's really helping me with my decision. Cheers

11 hours ago, donnacha said:

Some hesitate to buy the Elite visa because this is not a stable country, you have no idea how the national attitude towards foreigners may change over the next five years, whether new regimes will honor the visas, or even whether Thailand will remain a good place to live. Neither is anything guaranteed. Even with the 20-year, you are only given 5 years at a time, it is designed to give them flexibility in whether or not they honor it.

I have a more positive reason to hesitate. Most of the immigration hassles described in this forum did not exist before the army deposed the elected government in 2014. All the new crackdowns and red tape have been populist PR moves designed to give the impression that the army is effective, in the face of economic facts to the contrary. "Low-quality farangs" were a relatively easy scapegoat, especially as we were all supposed to be replaced by high-spending Chinese.

That has not worked quite as planned. Despite a constant flow of upbeat and imaginative statistics from the Tourism Authority of Thailand, it is broadly recognized within Thai society that it was a mistake to piss away the entrenched and reliable Western tourism trade they had built up over the past 5 decades, especially as the Chinese appear to be losing interest.

We have already heard credible reports that the easier, more flexible visas of pre-coup times may be returning. It makes a lot of sense economically, especially as competing countries become more adept at luring potential visitors away (God help Thailand if the Filipinos ever learn how to cook).

I am not so foolish as to think the Thais will do something because it is logical, but neither am I convinced that future governments will chose to retain the Army's tough stance against Western tourists.

Even the Army are showing signs of loosening up and trying to chase economic growth to make it easier to get elected when the time comes. 

So, I think there is a very good chance that we will soon return to the easy, six-month visas, extendable to nine months, and no need to provide bank statements, letter from employer etc.

We may be about to return to 2014 conditions. Buying an Elite visa, right now, may be jumping the gun. I would at least wait to see how the first few months of 2019 pan out.

Thank you so much for your up to date and well thought out view on this Donnacha.  You brought up a lot of points that have me thinking. 

I did see the news article about them considering making things easier regarding SETV's being multiple entry, and easing up the land border crossings to unlimited. I do wonder how this will pan out. Wouldn't them making things more relaxed in this sense, also be a sign of them following through and NOT removing the Thai Elite visa? Even if they made things more relaxed with 6 month visas and SETV's, there would still be some value in the Thai elite Visa (though not as much as if things got tighter on the tourst visa side).

However, we are so close to Q1 2019, it might make sense to see if there is any movement on these potential new guidelines. Very interesting.

Also! I'm half Filipino and I can assure you, they never will learn how to cook ???? JK. There are better restaurants there now, but at high prices. Local food will never get better in Philippines. 

18 hours ago, farangx said:

Plus the added bonus of no retirement extensions for at least 6 years, ie. no seasonings of 800K, no bank statements, no income statements or affidavits, for 6 years. ????

This is true, but man that is so far in the future it doesn't even feel like a real benefit to me at this point. From what I've read from those over 50, this is a pain in the butt though. Good point!

18 hours ago, tpkhk said:

Seems like all angles have been covered - just want to add, while you have a TE visa, if you do decide to take up employment / start a business - you can apply for a Work Permit / Non Immigrant (B? or other category).  The TE will remain in your passport but unused.  The clock on the TE would continue to tick away towards expiration date.  You are still entitled to TE services - fast track etc. but all subsequent entry/exit out of the country would be on your Non Immigrant Visa.  If you decide to cancel the Non Immigrant Visa/Work Permit, you'd then have to make a trip to Immigration or when flying back into Thailand specifically request that the entry be recorded on your TE visa.  Best of luck, good that you have the money to allow the freedom of choice...ie. TH or elsewhere, TE or other means.

Very interesting to know. I also did read that as a US citizen I can open a Thai company via the Amity treaty and can also WORK in it without the need for a work permit. It's a new statement that was released this year. https://www.sunbeltasia.com/news-page/30A4E136-E218-4E28-81E0-5495A2452390

16 hours ago, Mavideol said:

20 years = 1 million is around 49,500 baht a year (more or less at the current exchange rate) yearly extensions of stay maybe cost much less.... if one is "" However, I'm a sucker value """" it's a little confusing

Value as compared to the 5 year, not as compared to other cheaper non Thai Elite options. Sorry for the confusion!

16 hours ago, simon43 said:

I'm touching 60 years old, have the 5 year visa for the same reasons as others 50+ have stated - I HATE dealing with Thai immigration (previous bad experiences etc), and now enjoy being ushered through immigration whilst waving my middle finger (metaphorically speaking of course!).  The included limo service is a nice touch as well.

 

When this visa expires in about 3 years I'll get another 5-year visa.

 

I'm not rich (was once!).  I'm an English and Science teacher and make very regular trips between Thailand and Myanmar for education, charity and hobby (ham radio) reasons. Despite teachers often being called 'paupers' by some forum members, I manage to afford this Elite visa, plus own a newish car and have 5-star private medical insurance (guess my priorities don't include expensive women, cigarettes and beer...)

I also HATE dealing with immigration, and any anxiety regarding it. I rather just stroll through and be welcomed/catered to. I like your priorities by the way! 

15 hours ago, Percy Penguin said:

You still have to do 90 day reporting with the TE visa, right? Anyway I thought the hassle the OP had in mind was more that after a few years of doing 9 months out of 12 in Thailand, you're going to be getting the fear as soon as you hit the tarmac. That's what you buy your way out of with the TE card, I'd say.

 

I only do 180 days a year so think I can get away with tourist visas for a good few years, but at 9 months a year I can definitely see the point.

 

In the OP's situation I would go for the 5/6 year option and take the risk of the TE being withdrawn or the price being hiked in that time, but the real cost/benefit per year is close enough that I don't think the numbers will give you the answer. It comes down to personal preference IMO. I think you can justify either option, especially if you keep in mind that the equation changes when you hit 50.

Yes, still need to do the reporting. I think I'll often take a small trip out of the country  instead of do the 90 day reporting anyway. Especially if departure/arrivals are a breeze because of the visa. Being able to justify either option is why I'm in a bind haha! Thank you for taking the time to respond.

15 hours ago, kmw said:

I have a friend on the PE elite Visa, no need to do the 90 day report, they take care of it for you, I think by law its necessary but they have some kind of agreement with immigration so they do it for you,

Also the PE Visa once issued cannot and has not been revoked, from what I know thier are about 4900 people on this Visa currently, 

By PE Visa once issue it cannot be revoked. This is nice to know. Do you mean the 5 year visa they place in my passport every 5 years? What about if I purchase the 20 year, and they cancel the program somewhere in the middle, think they'll provide me the rest of my future 5-year visa papers or they'll just let me ride out the current one and thats it?

22 hours ago, DrJack54 said:

Yes I noticed britim post earlier and he has very good point. Being 36 your could effectively do two 5+1 EV putting almost at 50. Then perhaps move onto the non o based on retirement. Gives you that nice flexibility after your first 5 yrs EV to reacess "how its all going with you".

You mention behaps live bkk as a base. I meet lot of xpats who often say " how do live in bkk"...point is I/we are there hardly ever more than say 10 days. Pick an area near bts or MRT with good access to both airports. Then enjoy Thailand and international trips. I often go to Saigon just for few days. I would have loved an EV but already being over 50yr but the cheapness of the non o was too much of difference. Think I'm jumping in britim camp that the 5+1 yrs might be best. However has anyone actually tested this yet. I don't think its been available for 5 yrs yet. Any updates?

True on this, even the time I spent here so far I realized I need to be directly attached to the BTS (and I now am) and I'm pretty darn close to BKK airport, which is super convenient. Thanks for your replies sir.

20 hours ago, farangx said:

Go get the 20 years and call this place home, forget about the 5 year.

 

You are young and mobile, why look at so far down the road.  You get that 20 years and looks like you will easily be living here the next 5 years.  If you want to live in another country after 5 or 8 years, then go live there, if you change your mind then come back here, a place you call home (this feeling is hard to beat).  Like I said you are young so you mustn't let that 20 year visa tie you down!

I very much like this idea. It's nice to know that even if I leave at any time in the next 20 years, I would be able to fly here and call this place home. I could even use it as a base to launch my travels from. Condo's are so cheap here that I actually wouldn't feel too beat up if I held my condo here and spent the summer months in Europe or South America, while still paying rent in Thailand either. Thank you.

19 hours ago, scubascuba3 said:

At 36 I'd get the 1m 20 year elite if you're ok with spending the money. It will avoid years of hassle with visas, border runs, extensions, anxiety at borders etc etc

Although I often would be flying out to go visit friends in nearby countries, etc., without the Elite, knowing that I HAVE to do it, deal with extensions and the anxiety involved with the potential refusal, is so lame. I've only dealt with that 1 or 2 times so far and was not feeling it. 

58 minutes ago, JackThompson said:

I would not worry unless you do this again, at which point I would switch to the train to enter. 

 

There is a good suggestion above to have your hotel-booking handy - if only to make it easier for the IO to input your address in their system (vs hand-written on the TM-6 form). 

 

Be sure and have your boarding-pass for the flight you just completed handy - that came up in a recent case. 

 

Also, be prepared with a good answer to the questions, "What are you doing in Thailand?" and "When are you going home?"  Probably, you will get no questions at all, given your history - but best to be prepared.  Staying out 2 full weeks is a good step in showing you are using Thailand as a hub for travel in the region.

What are some other things people can show as Thailand being used as a hub for travel? Is 2 full weeks out the minimum? I'm new to the forum and not sure if this has been discussed before. Or maybe even different countries each time a person goes out for traveling/applying for a tourist visa?

Regarding hotel booking, what if someone is actually leasing a condo (whether short term or not instead of hotels/airbnb's? Having a hotel booked for 3 months isn't cheap. Will this look negative as far as the whole address/booking check as a tourist? 

Thanks in advance!

2 hours ago, BritTim said:

I have just one small contribution to offer. The five-year Elite visa actually gives nearly six years of stay if you do a border bounce just before the end of the fifth year. Of course, the other Thailand Elite privileges would not apply in the sixth year. If completely undecided, that might possibly swing the decision towards the five-year option.

This is true! I've been considering this little value hack in comparing the 5 vs 20. (keep it simple, that's way using a rough $15k)

$15k USD (keep it simple) / 5 = $3k a year - or $250/mo

$15k USD / 6 = $2.5k a year or $210/mo

Definitely gives it a nudge to play it safer while keeping things a little more palatable. The 5 year also does come with the 24 arrive/departure Transfers a year and the 20 year doesn't haha.

If only I had a crystal ball to know if the 20 year for 1m baht would be available and for the same price in 5 or 6 years. It would also be nice to know the currency rate between the USD and the THB at that specific time. ???? 

11 hours ago, zoltannyc said:

Hi OP,
Do you see yourself in Thailand in 10, 15 or 20 years?  Do you have an extra 15k for PE which doesn't create any financial difficulties for you? If Yes go ahead and get it for 20 if No get it for 5.

I'm 60 and retiring. Still, I will go ahead with the 20 year PE visa. Why? Because I can afford it easily, don't like stress and sitting 9 hours at the ToMo for an extension. In addition, I will have a good reason to live until 80 otherwise, if I die earlier I'll be really pissed about the wasted money.
 

I can see myself in Thailand for that long, though I'm not 100% dead set on it as a resolute decision. I definitely would rather have it as a home base than the US, and it's been the place I like the most in all my world travels. The extra $15k doesn't create financial difficulties, but as an investor, I could always use that money for something. 

To be honest, I don't even know what the ToMo is, but spending 9 hours for an extension is the exact thing that I never want to deal with lmao. Your giving yourself a reason to live past 80 is really funny and I think that is a good motivator, if any haha! I like it.

4 hours ago, galt67 said:

Myself and friend, both 50+, have the 20 year TE.

 

Why?

 

We're NOT going anywhere in that we've decided Thailand is our 'home' and want to minimize hassles living here. And Thai Imm is a HASSLE as seen in thousands of comments.

 

If you consider Thailand your 'home', or that you'll probably be staying here long-time for many years, then the 20-year is a better 'value.' 

 

For me, $50kB/year equals, on a monthly basis, $128USD. A no-brainer, IMO.

Yeah, the $128/mo really is a no brainer as far as value. I guess the real decision I need to make is whether I will stay long enough to take advantage of that value with the higher up front cost.

If you were going other places say spending 8-9 months a year here, and traveling for the other 3 or 4, would you still do the 20 year TE to avoid hassles for all the same reasons?

11 hours ago, impulse said:

The flip side of saving money (long term) on a longer TE Visa is that you may feel locked in if your situation or the political climate changes and other SEA countries start looking more appealing.  Or your finances or health change and you need to repatriate or start working- which isn't allowed under a TE Visa.

 

I'm not forecasting what's going to happen, but flexibility is worth money.

 

Very true. I definitely would have a bias to stay longer because I committed to the longer term TE Visa. I could look at it as a 20 year commitment or frame it as a commitment in the beginning, but an option of a place to call home for the next 20 years. That's pretty valuable to basically have a place to setup residency that doesn't tax worldwide income. 

However if I paid for the 20 year and something did happen and I wanted to go live somewhere else or HAD to, I would kick myself in the butt.

It seems like healthcare would be easier to deal with here in Thailand, than in the US, from what I've experienced so far haha. Regarding working, I believe I'd be able to setup a Thai company through the Amity Treaty and having a TE Visa makes the situation as an owner working in the business much easier. IF I decided to make moves here in Thailand. 

12 hours ago, BigT73 said:

How long have you been staying in Thailand to date?

11 hours ago, DrJack54 said:

That's a very good question. I've been banging on how happy I've been since moving here.

The OP is young and didn't mention his history with Thailand. BigT has a good point. A few visas and visa exempt for perhaps a year before the big decision would be prudent.

Over the past few years I've come in and spent a good chunk of time each year, 2-3 months. This year has been a bit longer than this. I'm growing tired of bouncing around the world without a home base and so far, in all my travels, Bangkok has been the most convenient for me as far as lifestyle, I feel really productive here and life is good. It's a great travel hub as well. It'd be nice to have a cool place to call home. I do travel a lot, and probably will during the really bad weather months.

The other option is the MM2H in Malaysia, but that ties up a bit more funds (even though it's in an account and not just flat out being spent). It's probably a better program moneywise, but I like life in Thailand better than Malaysia so far.

This is a great question and thanks for helping me think about this out loud. I don't think I'm at the point where I can say I definitely want to stay here a full 20 years, but at the same time I can see myself living here for the time being. I must say that I've been a bit worried about all the reports I've heard of people getting denied entry on back to back tourist visas and extensions. Getting a long term lease and worrying about that, and not being able to get my stuff if I have an issue, is what's making me consider this. I just don't want to think about and/or worry about anything Visa/immigration related, have a home base, and come and go as I please.

I've thought about doing the Muay Thai visa for a year to see how I like it, but I also don't want to be required to do that 2x a week, because I train other martial arts and it might be too much. Sounds fun at first, but I would then be reliant on that haha.

11 minutes ago, DrJack54 said:

First of all, I do not have an EV. Im over well over 50 so retirement extension is my best option. My mate just obtained his 5 year EV. Difference to op is that he is mid 40,s. Perfect option for him. Someone say 30 (if that was me) I would do the 20yr in a blink. On small side issue, I fly every few weeks outside Thailand. Be it Vietnam, Japan etc. The limo service and few other perks just so nice. I'm not showing off. Mostly very frugal. Never flown business class in my life and I fly every week. I would love a EV but sadly discovered los later in life. The op might have noted changes towards people trying to stay here long term on setv,METV,VE etc. Starting to become more difficult. Op if you afford it go for it. 

Thanks for sharing Dr.Jack I like to bounce around a lot and visit different places as well. it really would be nice to whisk through immigration and not have any worries about issues with VE/SETV/METV, which I definitely am hearing a lot about things getting "stricter" as far as people spending a lot of time here.

One thing to note is that the cheaper 1m baht 20 year version, doesn't include the limo rides. It just comes with arrival help/immigration/lounges as far as arrival/departures goes. In BKK I like to stay near On nut which isn't too far from the airport anyway!

Thanks for the pep talk, it's nice to hear someone else's perspective when I'm on the fence on certain things.

2 minutes ago, ukrules said:

I got the 5 year version in 2014, back then the 1 million Baht 20 year version was not available.

 

I wish it was because when this one expires I will be buying a 20 year membership...

 

My total spent will be 1.5 Million Baht at that point.

 

What will you do in 5 years time - buy another 5 year membership ? If so then I would suggest just going for the 20 year version if you intend to stay for at least 10 years.

 

Ah very interesting perspective. That's something to consider also. If I buy the 5 year, and want to live here much longer, It will end up being 1.5m total IF it's still 1m Baht to get the 20 year, 5 years from now.

Thanks for sharing man. To be honest I have no idea how things will be in 5 years, sigh. I guess I need to make some big boy decisions.