Chinese, Hong Kongers, Germans drive "Elite Card" residence for real estate purchase scheme

[bander]

7 hours ago, NCC1701A said:

Don't forget your 90 day reporting.

 

And have you seen the air quality in Bangkok today? Number four on cities with filthy air. 

And getting worse every year. 

[Kerryd]

So this is literally no different than what they were already offering, except that with the "old" cards you didn't need to invest $10 mil in a condo project (which would still be subject to the 51/49% rule).
You're not getting any "guaranteed" visa or right to stay. It has to be renewed every year. (You probably don't have to show financial info though, but then again, maybe you will.)
You are not getting "residency". No PR. No special ID card. You are still just a "foreign tourist" in the eyes of the government.
You are not "owing" land.

At best, you'd have to apply for a Non-B visa to take advantage of the Work Permit, which would still be restricted to "non-Thai" occupations.
All of which you can do already without having to put ฿10 mil into a condo project that may never get built.

[ronaldo0]

54 minutes ago, KhaoYai said:

You do realise they mean 20 developers not 20 Elite Card applicants?

It says developers are interested generally. Why would the be though in what is a market flooded with property and business for sale , apart from to acquire them for peanuts to wishfully sell them on , which would take years I would reckon .
More Thai wishful thinking schemes it seems ! 

[bander]

40 minutes ago, SupermarineS6B said:

Lovely....... Chinese, Chinese and Germans....... That should make a joyous environment...... One trying to shout louder than the other..... Oh, and i musn't forget the spitting........     Oh, dear me......    Next straw..... 

Great comment, Chines tourists are coiffing up some yellow slime and spitting it on sidewalks, on the floor in shopping centers and hotel lobby's, it's just disgusting. 

They are spitting in Hong-Kong and China as well, and urinating absolutely everywhere, just google if you don't believe me.

My breakfast in a Shenzhen 5 star hotel was ruined when at least 70% of Chinese guests was smoking in the breakfast lounge while I was eating. 

They where actually walking around with the cigarette in the mouth while collecting food from the buffet table.

And of course they all smoked in the elevator after finish the breakfast.

Is there any place where Chinese don't spitting and smoking?

No, I cannot think of any!

Smoker in China beats up woman in lift for telling him to put out cigarette

[Blumpie]

One thing is for sure.  It's a scheme.  

Look, if you have money to literally throw away then go for it.  I don't pretend to have income that I can toss away and not worry about getting a return on it.  If you're not in the former then you are nothing more than a fool.

 

[ronaldo0]

35 minutes ago, bander said:

Great comment, Chines tourists are coiffing up some yellow slime and spitting it on sidewalks, on the floor in shopping centers and hotel lobby's, it's just disgusting. 

They are spitting in Hong-Kong and China as well, and urinating absolutely everywhere, just google if you don't believe me.

My breakfast in a Shenzhen 5 star hotel was ruined when at least 70% of Chinese guests was smoking in the breakfast lounge while I was eating. 

They where actually walking around with the cigarette in the mouth while collecting food from the buffet table.

And of course they all smoked in the elevator after finish the breakfast.

Is there any place where Chinese don't spitting and smoking?

No, I cannot think of any!

Smoker in China beats up woman in lift for telling him to put out cigarette

I know a nice hotel in Vietnam that doesn’t allow them ! 
I asked the staff where all the Asian guests were from and was told Japan , Korea , Thailand. I asked why no Chinese as had seen thousands around outside hotel and staff said Chinese are not allowed in here as the owner doesn’t like their behaviour ????????????

[moe666]

8 hours ago, overherebc said:

Will the 51% 49% ( or whatever it is ) ownership rules still apply?

Not if it is a condo

[overherebc]

15 minutes ago, moe666 said:

Not if it is a condo

Thought there was a limit on how many units could be foreign owned.

eg 100 units in the block 40 only for sale to non Thai.

Edited December 15, 2020 by overherebc

[the green light]

8 hours ago, jackdd said:

I assume this was determined by the number of likes they got on Facebook? Probably 2 Chinese, 1 Hongkonger and 1 German clicked "Like".

So it is another scheme to promote real estate.. The problem is not the type of visa you need to enter Thailand.

 

the main issue whether you enter with an elite, 30,60,90 visa   , 1yr retirement...or whatever.

 

Whoever enter thailand you will need : COE, health insurance, 14 days quarantine. Even if it is a hopping trip between you  HK home and Thailand.. You can't do the country hopping anymore,

 

So all the farang who are in Thailand with all their cash enjoying the upper level life in thailand, they can't leave on a holiday trip to HK, Singapore of their home country...They all be subject to the same rules as any entry foreigner in Thailand. That is at a cost of $2000. Eventually, their business will suffer. and will be like other poor farangs stuck in thailand.

 

So I do not understand how this scheme will help the  real estate market. Rich people like to have the flexibility to move around between country.

That will not happened. 

 

 

 

[the green light]

47 minutes ago, Blumpie said:

One thing is for sure.  It's a scheme.  

Look, if you have money to literally throw away then go for it.  I don't pretend to have income that I can toss away and not worry about getting a return on it.  If you're not in the former then you are nothing more than a fool.

 

just remember.. there are always richer people than you and as much poorer than you.

 

we all know that rich people are stupid when comes to money spending. Just because they have money does not mean they are smart and work hard on it. they just have a break in life.

Having money has always meant having the flexibility to do anything they want with their money even buying useless things like expensive condos in thailand. they got a lot of it 

 

these rich people are not planning to live in thailand but just having a place to come sometimes.

however, they have commonality with the poor people visiting thailand. Being force into quarantine, insurance and paper work. It is not the cost but the feeling of being locked 15 days without leaving your place.

That mean this country hoppers rich people do not have the time to be locked in for 15 days just to spend a week in their new condo.

 

and it is not a good investment  now.

 

[overherebc]

9 minutes ago, the green light said:

So it is another scheme to promote real estate.. The problem is not the type of visa you need to enter Thailand.

 

the main issue whether you enter with an elite, 30,60,90 visa   , 1yr retirement...or whatever.

 

Whoever enter thailand you will need : COE, health insurance, 14 days quarantine. Even if it is a hopping trip between you  HK home and Thailand.. You can't do the country hopping anymore,

 

So all the farang who are in Thailand with all their cash enjoying the upper level life in thailand, they can't leave on a holiday trip to HK, Singapore of their home country...They all be subject to the same rules as any entry foreigner in Thailand. That is at a cost of $2000. Eventually, their business will suffer. and will be like other poor farangs stuck in thailand.

 

So I do not understand how this scheme will help the  real estate market. Rich people like to have the flexibility to move around between country.

That will not happened. 

 

 

 

Further to that is the so far unanwered question as to how long the entry conditions remain as a requirement.

[billzant]

"Thai media The Bangkok Insight reported that "big developers" were showing an interest in the Elite Card for residence"

 

Many expats are forced to take the "Thai wife" route to get a home here, and get exploited. These "poorer" expats suffer because Thailand rightly blocks the "big developers" from pushing the housing prices up. Keep these big developers out.

Ironically the expats it would be safer to allow to buy homes would be those who couldn't get  an Elite card!!!

Keep the big developers out of Thai housing

[Susco]

10 hours ago, webfact said:

Thai media The Bangkok Insight reported that "big developers" were showing an interest in the Elite Card for residence scheme with 20 onboard. 

 

Of these four had confirmed they will join the scheme that will give 5 year residence (extendable up to 20 years) for those investing 10 million baht in condominiums. 

 

So 4 developers so far have confirmed they will join the program, which means the program hasn't started yet, because nobody has joined yet.

 

But the Chinese and Germans are already buying big time into a program that doesn't exist ?

[tomauasia]

More fake Thai news 

[Traubert]

44 minutes ago, ronaldo0 said:

I know a nice hotel in Vietnam that doesn’t allow them ! 
I asked the staff where all the Asian guests were from and was told Japan , Korea , Thailand. I asked why no Chinese as had seen thousands around outside hotel and staff said Chinese are not allowed in here as the owner doesn’t like their behaviour ????????????

Of course you did, I always ask which country the other guests are from and the staff are at pains to tell me with an amusing aside.

 

Whats the name of the hotel?

[ronaldo0]

33 minutes ago, Traubert said:

Of course you did, I always ask which country the other guests are from and the staff are at pains to tell me with an amusing aside.

 

Whats the name of the hotel?

It’s not a huge hotel and over half the guests were Asian so why would I not ask the staff while talking to them in conversation ? Or do you only speak to staff when you require them ? 
For your information it’s the Victoria Hoi an if you want a Chinese free hotel . 

[Stargeezr]

Yes this scheme is for the rich to buy some condos for the 10 million baht, then they can rent out

some of the condos to pay for the one that they will come to stay at, or send their friends or family

to stay at.  This scheme is not for the ordinary Joe, or Sam.  Just saying...

Geezer

[KhaoYai]

6 hours ago, ronaldo0 said:

It says developers are interested generally. Why would the be though in what is a market flooded with property and business for sale , apart from to acquire them for peanuts to wishfully sell them on , which would take years I would reckon .
More Thai wishful thinking schemes it seems ! 

That's not really the point is it?  My post as because you appeared to be thinking that the referral to 20 being on board meant 20 Elite Card applicants.  The scheme may or not be a waste of time but having 20 big developers on board would seem quite good to me - although not really surprising as any developer worth their salt will be trying everything they can to move property at the moment.

[jaideedave]

18 hours ago, Pravda said:

Read just now that Canada accepted 15,000 immigrants in October which was 50% less than last year, but still 15 thousand who will need a place to stay, pay tax (if not income then at least sales tax) and spend money either from money saved or from the sponsors that support them. 

Well I'm an expat Canadian and not everyone is on board with the 'open' borders the current PM has began.Tens of thousands of unfettered so called immigrants/refugees are allowed to cross into Canada from the USA at a place called Roxham Rd.Upon they are given a cursory check in and are immediately entitled to welfare,housing,medical ,dental and the list goes on.Very kind of the Cdn taxpayers wouldn,t you say.They/we already pay among the highest taxes on the planet. Agreed some are required as skilled workers etc but not the many thousands from <deleted>holes around the world living on the dole more or less permanently.

Import <deleted> and become <deleted>!

[Mr Meeseeks]

11 minutes ago, jaideedave said:

Well I'm an expat Canadian and not everyone is on board with the 'open' borders the current PM has began.Tens of thousands of unfettered so called immigrants/refugees are allowed to cross into Canada from the USA at a place called Roxham Rd.Upon they are given a cursory check in and are immediately entitled to welfare,housing,medical ,dental and the list goes on.Very kind of the Cdn taxpayers wouldn,t you say.They/we already pay among the highest taxes on the planet. Agreed some are required as skilled workers etc but not the many thousands from <deleted>holes around the world living on the dole more or less permanently.

Import <deleted> and become <deleted>!

Same in the UK, there are illegal immigrants living in luxury hotels and accommodation up and down the country, of which some 80% are not eligible to remain, yet they are never removed and the taxpayer finances all of this.

 

If governments want to survive they must keep the taxpayers happy. I would be all in favour of only allowing taxpayers the vote. After all, why should people that don't contribute have a say in how our money is spent?

 

Say what you will about Thailand's immigration policies, and we all like to have a moan now and again, but they have got it spot on IMO. 

[Pravda]

1 minute ago, jaideedave said:

Well I'm an expat Canadian and not everyone is on board with the 'open' borders the current PM has began.Tens of thousands of unfettered so called immigrants/refugees are allowed to cross into Canada from the USA at a place called Roxham Rd.Upon they are given a cursory check in and are immediately entitled to welfare,housing,medical ,dental and the list goes on.Very kind of the Cdn taxpayers wouldn,t you say.They/we already pay among the highest taxes on the planet. Agreed some are required as skilled workers etc but not the many thousands from <deleted>holes around the world living on the dole more or less permanently.

Import <deleted> and become <deleted>!

 

You seem to be stuck in the 50's.

 

Jesus Wept, my mom bought a shole apartment in Hamilton 10 years ago when it was considered the armpit of Ontario. Now, it's stil the armpit of Ontario, but at least it is undergoing some beautification thanks to all the immigrant money attending overrated Canadian universities which by the way charge triple than what they charge local (omg, dual pricing) Canadian permanent residents.

 

I have a condo in Toronto and it has constantly been rented out to Indians who got transferred on work permit and need easy access downtown. I thank them for paying off my mortgage while living in Thailand.

 

The amount of Asians that immigrated to Canada and brought money with them literally saved the useless country that is Canada which has absolutely no manufacturing or tech left. The only city in Canada that is somewhat functioning is Toronto. They bought condos, they bought cars, they rented and they spent.

 

I was sponsored in 1992 by my aunt. I certainly didn't cross the border, but the poor woman guaranteed for me financially for 5 years. 

 

And Trudeau is not stupid. You should thank and bow to him every day that he brings immigrants and is saving your Canadian Peso pension from total collapse.  What else can this useless country do besides selling the dream and importing immigrants?

 

 

 

 

 

 

[Traubert]

5 hours ago, Mr Meeseeks said:

Say what you will about Thailand's immigration policies, and we all like to have a moan now and again, but they have got it spot on IMO. 

Well said.

[A512]

a friend decided to spend the next year in Namibia, got a great deal with immigration over there, he had decided Thailand but changed his mind because the stupid regulations. think about Namibia!!!

[SCOTT FITZGERSLD]

On 12/15/2020 at 3:18 AM, dcnx said:

The flexible elite (500k) that’s extendable and you get a work permit?

 

That’s actually a good deal. 

not really. you need to invest 10 million baht in a condominium to get this visa.

[SCOTT FITZGERSLD]

 once upon a time i passed thai immigration, got the immigration form (now cancelled) in one hand and the passport in the other hand, and proceeded to the boarding gate.

since i passed the immigration, i thought it will be ok to throw away the form.

but in the boarding gate they stopped me and said i could not board the flight without this form.

i argued, than one tough thai guy approached me and just said SHUT UP !

they took me to an immigration interrogation room and one tough lady said;

WHICH FLIGHT YOU CAME TO THAILAND?

i told her i cannot remember, and she said:

IF YOU DO NOT REMEMBER I WILL ARREST YOU.

than i remembered, she came back with a paper and threw it in front of me.

it was the list of passengers from that flight.

my name was on it.

that was the day i understood how dangerous it is to invest in thailand.

they simply can slap you on the face, tell you to shut up and deport you for no reason at all !!

[garyk]

This nonsense is never ending.

[A512]

11 hours ago, SCOTT FITZGERSLD said:

 once upon a time i passed thai immigration, got the immigration form (now cancelled) in one hand and the passport in the other hand, and proceeded to the boarding gate.

since i passed the immigration, i thought it will be ok to throw away the form.

but in the boarding gate they stopped me and said i could not board the flight without this form.

i argued, than one tough thai guy approached me and just said SHUT UP !

they took me to an immigration interrogation room and one tough lady said;

WHICH FLIGHT YOU CAME TO THAILAND?

i told her i cannot remember, and she said:

IF YOU DO NOT REMEMBER I WILL ARREST YOU.

than i remembered, she came back with a paper and threw it in front of me.

it was the list of passengers from that flight.

my name was on it.

that was the day i understood how dangerous it is to invest in thailand.

they simply can slap you on the face, tell you to shut up and deport you for no reason at all !!

this is quite true. thanks for sharing, i knew some bizarre cases here, an African friend was the best, just because he is black and African of course he got in trouble (pure racism) until he showed his bank account, that's how it works. 

[Truth Will Set You Free]

Investing in a Condo is plane stupidity. Some things to consider: 

1. Owner that already have one, could not get back into the country during this pandemic without going thru loops.
2. The Condo they have are run down due to management not keeping up the maintenance. 
3. You Condo Owners out there tell the truth and keep others from being hoodwink like you were. 

 

1. 10,000,000 baht at the 30 baht exchange is $333,333.00 USD
2. For a place/space of what size?
3. Afterward you have to pay monthly maintenance fees for this amount I would say 6000 to 8000 baht a month.  That’s $200-$266 more dollars a month not to include utilities. 
4. In 5 years the place will look like <deleted> due to no maintenance. Money down the drain. 
5. Do your homework before giving up you life saving to a country that care only for your money. 
6. Oh, don’t show that you are a elite member, they charge you more just because they know you can play.????????????????????????????

[newnative]

4 hours ago, Truth Will Set You Free said:

Investing in a Condo is plane stupidity. Some things to consider: 

1. Owner that already have one, could not get back into the country during this pandemic without going thru loops.
2. The Condo they have are run down due to management not keeping up the maintenance. 
3. You Condo Owners out there tell the truth and keep others from being hoodwink like you were. 

 

1. 10,000,000 baht at the 30 baht exchange is $333,333.00 USD
2. For a place/space of what size?
3. Afterward you have to pay monthly maintenance fees for this amount I would say 6000 to 8000 baht a month.  That’s $200-$266 more dollars a month not to include utilities. 
4. In 5 years the place will look like <deleted> due to no maintenance. Money down the drain. 
5. Do your homework before giving up you life saving to a country that care only for your money. 
6. Oh, don’t show that you are a elite member, they charge you more just because they know you can play.????????????????????????????

       A couple of clarifications to your post.   I'll be the first to say that condo ownership isn't for everyone--here or anywhere.  If you're more comfortable renting, then by all means rent.  However, some of your statements regarding condo ownership here I feel are not accurate and do not square with my experience.  Perhaps you should, as you say, 'do your homework' yourself before making your blanket, one-size-fits-all statements.  

      Twice you state that condo projects here will be run down 'due to no maintenance'; your second statement indicates that by 5 years they will look like (deleted).  Then, you state, 'money down the drain', with the implication that any condo purchased in Thailand will be a money-loser, due to no maintenance. 

      I've owned 18 condos all over Pattaya, as well as several Bangkok condos.  I've never lost money on any of them.  Almost all of the projects I have owned at are at least 5 years old now and all are still in good condition.  The last Pattaya condo I owned before my current one was over 30 years old and the project was being nicely maintained.  My current condo is in a project about 14 years old and it is also in great shape.   Of course, some condo projects can have maintenance issues, and not just here, but you leave the misleading impression that poor maintenance is always the case.  It isn't in my experience.  

     You ask, what do you get for 10MB?  No one answer; too many answers from too many variables.   The main takeaway, though, is what you don't say.  You don't have to spend 10MB on a condo to live in Thailand.  You don't have to buy a condo at all--there are plenty of people here happily renting.    Although I always like owning rather than renting, I don't see myself ever spending 10MB for a condo, even if it came with a fancy visa, and I don't think I would ever need to in order to get what I wanted in a condo here.  The great thing, for me, is the wide variety of condo choices here in all price points--much more than I had where I lived in the US.  Also great for renters.

     With the 20 different condos I have owned in Pattaya and Bangkok, both large and small, I have never paid your touted 8000 baht a month for maintenance so I think that statement of yours is also misleading. The first condo I bought in Pattaya in 2010 was at View Talay 3 and the YEARLY maintenance fee was 6000 baht.   I think it's double that or more now but still a bargain.  The most I have ever paid was 7,700 baht a month for a large 3 bedroom/3 bath unit.  Included in that maintenance fee was weekly maid service, cable tv, internet, and hot water at all the taps so not a bad deal, in my opinion.   I was paying about the same monthly fee 11 years ago for a small 1 bedroom condo in America and it certainly did not come with maid service.  If you take an average size condo of say 60 sqm and perhaps a slightly higher than average condo fee of 50 baht a sqm/month you get 3000 baht, half of your 6000 baht.  Some much larger condos might run you 6000 to 8000 baht a month in maintenance fees but to say that's the going rate for all condos is not correct.  

[jackdd]

12 minutes ago, newnative said:

With the 20 different condos I have owned in Pattaya and Bangkok, both large and small, I have never paid your touted 8000 baht a month for maintenance so I think that statement of yours is also misleading.

How many condos valued at 10 million plus have you owned?

At the average condo where i'm staying the maintenance fee is 50THB/sqm/month. If it's a somehow luxuries condo 80THB/sqm/month wouldn't surprise me, and if you got a 100sqm unit then this would mean 8k per month. To me his estimation sounds quite realistic.