Elite Card to dangle more privileges for foreign investors

[webfact]

Elite Card to dangle more privileges for foreign investors

By The Nation

 

TAT governor Yuthasak Supasorn

 

The Tourism Authority of Thailand (TAT) plans to boost foreign investment in real estate via its Elite Card long-stay visa programme, said governor Yuthasak Supasorn.

 

The TAT-owned Thailand Privilege Card, which runs the programme, aims to lure more investors with two stimulus schemes it will propose to the Centre for Economic Situation Administration (CESA).

 

The "Flex One" scheme will offer 5 to 20-year visas to foreigners who buy properties worth at least Bt10 million. The cards, worth Bt500,000 to Bt2 million, will be purchased by property developers and then passed on to foreign clients.

 

Meanwhile the "Flex Plus" scheme will offer a work permit to foreigners who invest at least US$1 million in Thailand. However, they must hold the top-tier Elite card costing a minimum Bt1 million and must invest the $1 million in the first year after visa approval.

 

If approved by CESA, the TAT will forward the programme to the Cabinet.

 

Yuthasak expects the schemes to be implemented next year, adding that they will inject about Bt20 billion in extra foreign investment if the TAT can sell 1,000 elite cards under the programme.

 

Thailand Privilege Card sells around 2,000 elite cards per year, he added.

 

Source: https://www.nationthailand.com/business/30396144

 

-- © Copyright The Nation Thailand 2020-10-14

 

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[steven100]

33 minutes ago, webfact said:

The "Flex One" scheme will offer 5 to 20-year visas to foreigners who buy properties worth at least Bt10 million.

    does it ever stop    .....      good luck with that one Yuthasak ... lol

[madmen]

What's the bloody point when both elite card and condo owners ARE NOT ALLOWED IN! 

[jabis]

I don't think people are interested in the dangly bits of TAT Governor 

[Justgrazing]

1 hour ago, webfact said:

 

The "Flex One" scheme will offer 5 to 20-year visas to foreigners

Great stuff .. but what if your say 95 .. they'll might need to chuck in a care home and oxygen tent as well .. and a regular supply of the elixir of life to make certain you get your 20 yrs out of it .. 

 

 

[zoza]

4 minutes ago, Justgrazing said:

Great stuff .. but what if your say 95 .. they'll might need to chuck in a care home and oxygen tent as well .. and a regular supply of the elixir of life to make certain you get your 20 yrs out of it .. 

 

 

from what has been said many current Elite Visa card holders. might be 95 by the time they get permission to travel to Thailand,  500k baht/600kbaht for what?  cannot wait for this new one???

maybe you need the twenty years  in case your visa expires.......

[Mung]

I didn't think they could come across any more desperate - I was wrong 

[meechai]

Now lemme get this straight
You put the lime in the coconut, you drank 'em bot' up?? ????

[Chang_paarp]

This sounds so much like the "investment visa" that was created post Asian Financial crisis (the one started by Thailand pre-GFC). Buy a condo for more than 3MilB and get a visa. It did put some life into the real estate market at the time. Successive governments effectively killed it.

Just rehashing an old idea.

[mr mr]

 

[Grumpy John]

I get it now!  At one of their many conferences the moderator said to everyone "Write down on a piece of paper some crazy idea about getting tourism up and running again"  They all did.  And I thank them from the bottom of my heart for the abundance of humour and occassional belly laughs I enjoy when day by day they release those crazy ideas to the media.   Thank you TAT.

[baansgr]

He needs to be using the past tense of "sold"...not present tense of "sells"

[ourmanflint]

Desperate for cash. Promises ring hollow

[unamazedloso]

Y'all want foreigners to be gps tracked. Heres some news for you dum truks. You already had quality tourists. For the most part all things considered i think Thailand's done fine whilst never becoming the trully friendly and compassionate, fair, civil, country it is brain washed to believe it is. 

Something is brewing, tourists will be annoying if still here im starting to think.

[condobrit001]

"The TAT-owned Thailand Privilege Card, which runs the programme, aims to lure more investors with two stimulus schemes it will propose to the Centre for Economic Situation Administration (CESA)."

 

The word here is "lure", which for those not sufficiently educated in the english language means to influence or encourage someone to perform certain actions - often by deception. Enough said.

[toolpush]

I think that most people commenting here on this issue are doing so by looking through their Farang biased lens. The Thais have one major target in mind for these measures and it ain't Farangs.......

[Lunchbob]

They need to go through the process- offering more and more as the prices fall and fall. It will end up at very low prices and some kind of PR...Wait it out.

Edited October 13, 2020 by Lunchbob

[Destiny1990]

Great and how many rich Chinese have signed up or i mean have showed an interest in this. 

[Hayduke]

5 hours ago, webfact said:

Elite Card to dangle more privileges for foreign investors

 

This government just can't help trying to turn everything into a scam. It seems they figure that if they just keep throwing out ridiculous "bait-and-switch ' ideas…one of them will eventually catch on.

 

 

Edited October 14, 2020 by Hayduke

[vandeventer]

So they will be charging to 600,000 for the 5 year elite card what about the 10 or 20 year cards. How much will they cost? Most people with brains around the world are looking at Thailand's location. The moves China is making in Southeast Asia puts Thailand in a hot spot. You might want to be thinking about other things right now instead of how to rip us off.

[Geoffggi]

4 hours ago, webfact said:

The "Flex One" scheme will offer 5 to 20-year visas to foreigners who buy properties worth at least Bt10 million. The cards, worth Bt500,000 to Bt2 million, will be purchased by property developers and then passed on to foreign clients.

Enough is enough, it's about time all the government department leaders sat down and talked to each other,  (If they can find a room big enough) the only thing they appear capable of doing is creating confusion and hysterior among the population. The amount of uncertainty regarding stability of this country must be at an all time high, obviously the government have never heard of the saying "Too many cooks spoil the broth" there are so many stories running at the moment nobody is taking them seriously, they make these ridiculous statements one day and the next frighten people away by saying "Ah but you can't stay in your new home until you jump through these additional hoops that we have just thought up, going to the dogs is nothing in it .........!!!! 

[hotchilli]

5 hours ago, webfact said:

Elite Card to dangle more privileges for foreign investors

That's a privilege?

Buy or invest you can have a visa or work permit... I call it blackmail.

[Elkski]

...

The "Flex One" scheme will offer 5 to 20-year visas to foreigners who buy properties worth at least Bt10 million. The cards, worth Bt500,000 to Bt2 million, will be purchased by property developers and then passed on to foreign clients.

 

so 500k baht for a developer to buy a 5 yr visa  that the developer can use to lure investors to buy condos worth 10 million  baht.   And after 5 years  they kick you out?  What visa do you use then?  Which visa scheme will be in play in 5 years.   How much markup  will developers  be trying to get.   Man the developers must have investor partners in the parliament  or high up.   Or on their knees. 

[pkrv]

2 hours ago, condobrit001 said:

"The TAT-owned Thailand Privilege Card, which runs the programme, aims to lure more investors with two stimulus schemes it will propose to the Centre for Economic Situation Administration (CESA)."

 

The word here is "lure", which for those not sufficiently educated in the english language means to influence or encourage someone to perform certain actions - often by deception. Enough said.

Exactly. What so often is it 'lure', 'entice', 'dangle', etc?

Why can't Thailand 'attract' or 'encourage'?

<sigh>

Edited October 14, 2020 by pkrv

[Chassa]

3 minutes ago, Elkski said:

 Man the developers must have investor partners in the parliament

Yes

[Dialemco]

Anyone considering purchase of property would be well advised to wait until next year when prices may be at a more realistic taking into account world recession. Meanwhile maybe good time to consider changing the law so that property may be purchased and owned by foreign nationals. 

[crazykopite]

Things are now getting desperate Thailand is on the cliff edge 

[TERMINATOR3AB]

WOW    invest  1 million  $US  (approx 34,000,000)

Get  a  work  permit   to work  for  30,000  baht  a  month  

Where  can I invest  ?   (   this is getting  from  stupid  to  ridiculous insanity)

Good  Luck  Thailand 

 

[Mr Meeseeks]

1 hour ago, hotchilli said:

That's a privilege?

Buy or invest you can have a visa or work permit... I call it blackmail.

The fact is that if you wanted a work permit and associated visa as a means to remain in Thailand legally there are easier and cheaper options if one is so inclined to go down that route.

 

27 minutes ago, Dialemco said:

Anyone considering purchase of property would be well advised to wait until next year when prices may be at a more realistic taking into account world recession. Meanwhile maybe good time to consider changing the law so that property may be purchased and owned by foreign nationals. 

Anyone buying anything now must be certifiable.

 

They will never change the property and land ownership laws under a nationalist military government either. Especially when they are there to protect the country's biuggest landowner. Cross that one off your Christmas list.

 

[TherealG]

Sometimes I think they're going to figure this out and then I wake up and realize the "out of touch" decision makers haven't changed. 

 

Thailand is becoming more and more trouble than it's worth.