New Elite Card allows holders to work in Thailand – for 32 million baht

[NoshowJones]

3 hours ago, khunpa said:

What a “great” deal! 
 

Clear that they are aiming to the very stupid super rich. Sure there must be millions of those.

 

Very stupid super rich?? Except for maybe these who are born into money.

[StayinThailand2much]

35 minutes ago, Dexxter said:

The last time I entered Thailand via Don Mueang just before covid appeared, I was pulled aside and got questioned for 30 minutes because I had "too many" 6 month METVs in my passport and the Immigration Officer said I should marry my Thai partner and next time use a "marriage" visa. So even "back-to-back" 6 month visas with gaps of 2-3 months in the home country between each visa are risky.

Happened to me with only one METV and one or two VE entries. That's why, when my current visa runs out later this year, I will show mercy and spend a year or so away from Thailand, travelling to other parts of the world, so not to cause these immigration officers too much distress. (And yes, the current entry requirements are also a reason why I won't be tempted to set foot on Thailand for a year.)

Edited February 18, 2022 by StayinThailand2much

[Misterwhisper]

Hmmm... I think it's a fantastic deal at only 32 baht.

Or did I misread something?

[Dexxter]

Perhaps they are trying to attract their CCP masters who are currently at risk of having their assets frozen in several western countries.

[homeseeker]

Can I work at Macdonalds?

[Oxx]

11 minutes ago, homeseeker said:

Can I work at Macdonalds?

Not in Thailand you can't.  It's a reserved occupation under "staffing shops and other retail outlets".

[phetphet]

It's not an extreme speculation to imagine that anyone with 1M dollars could get 5% per annum investment return easy.

Thats 50,000USD per year minus tax to live on in Thailand and not work at all. All the while, the money is safer in home country.

 

Why risk it?

 

[DefaultName]

7 hours ago, balo said:

Yes sign me up , I just need to rob a bank first. 

Prohibited occupation, Thais only.  ????

[SymS]

6 hours ago, ukrules said:

It requires far less investment to just incorporate then employ yourself if you're so inclined.

 

But I guess if someone already bought a 30 million Baht condo and has an Elite visa already and for whatever reason wanted to take a job then the option's there.

 

I doubt many will bother with that route but you never know

 

Maybe there are tax implications. If somebody is in Thailand with an Elite visa, they may not be able to claim tax residency in Thailand. But if they work legally and stay in Thailand more than 6 months, they could claim tax residency, pay themselves a small monthly salary, and avoid or lower taxation in other jurisdictions.

[tomacht8]

The new Elite Card is not for me. Have worked hard all my life to have enough money to quit work. Now it's time to enjoy life and I wouldn't pay anyone 32 million baht to get back to work. 555

That would be schizophrenia.

[Uroller]

These idiots must think they are running Monaco, which is where the rich actually go????

[wprime]

8 hours ago, timendres said:

Almost $1 MILLION USD for the "privilege" of working in Thailand? Anyone paying for that needs a head check.

You just need to invest the money in Thailand, it's not a fee.

[khunPer]

32 million that pays 4 percent in dividend outcome - which is very possible on the Thai stock market, even after withholding tax - is little more than 1.2 million a year or 100,000 baht a month. It's not enough for luxury, but enough for an Okay life-style, so if you wish a hi-end life-style you need to also work. However, the question is if you really need to "invest" 32 million baht to get a work permit?

 

If you are in that income level from a job, so you have 30+ million baht in savings, you should easily be able to get a job - and work permit - in a major- or international company, without the need for investing 32 million baht; and that job might even include both accommodation, or extra for that, and free international school of your choice for eventual children.

 

If you are entrepreneur and start your own business, you only need to invest 2 million baht in a company limited - and as American, who are part of the target group, you can actually own that company 100 percent - to obtain a work permit, provided you can employ 4 Thais, or even less depending of your business and eventual BOI benefits.

 

Makes me wonder what the real benefits are for 32 million baht...????

[Mr Meeseeks]

Ah the old Thai boondoggle.

 

It seems incredulous, but you are not thinking about this from the Thai perspective.

 

Remember, in their little brains, they know that it only takes one or two foreigners to purchase this to keep their gravy train rolling along. 

 

It keeps the office on Sathorn Rd. open and keeps the executives who were probably shuffled there from other govt. departments in a job doing relatively little until their retirement.

 

Remember, the Elite visa isn't really for us at all, it's for them.

[CM Dad]

If you have 32 million baht, why would you want to work?  Give it to do good, not help the wasteful government, and get a hobby instead.

[Highend Expat]

9 hours ago, webfact said:

Under the Elite Card’s new Flexible Plus Program applicants will be able to obtain a work permit. [for only 1M USD] 

It's almost impossible to understand how their brains work.

 

Who, exactly, pays a million dollars, as an individual, to goto a developing country to work? 

 

Incredible people 

[Highend Expat]

1 hour ago, Dexxter said:

Perhaps they are trying to attract their CCP masters who are currently at risk of having their assets frozen in several western countries.

This is probably the real reason. 

[paul1804]

I guess this is written proof that there is life on other planets!!!

[Mr Meeseeks]

13 minutes ago, Highend Expat said:

It's almost impossible to understand how their brains work.

It's easy, see my post above yours.

[Oxx]

32 million baht, or one million dollars.  Sounds familiar.  Maybe Dr. Evil is working for the Thai government.  With the proper advice they could increase the price to 100 billion dollars.

 

 

[tomacht8]

Makes no sense overall. I'm still waiting for the 10 year elite membership card for the luxury soapy massage parlors and the  all in Barfine flatrate card for the Gogo bars. ????

[aussienam]

6 hours ago, ThailandRyan said:

Lets see I get a 5 year work permit for my 32 million ...hmmmm.  So in order for it to work I need to make 6.4 million THB a year, or around 53k Thb a month....doable but then what about taxes.....and who is going to hire a 50 something foreigner?

 

no thanks i will stick to the 1900 baht a year retirement extension....

53,000 per month is only 636,000 per year.

You need to add a zero. You would need to make 530,000 per month to make back 6.36 Million baht in a year!!  Not so doable unless you are in a high paying CEO position perhaps. 

[Alex19]

I can’t wait to see the registrations forecast.

I can already guess:

”we expect to have 100 000 yearly registrations for the 32M package.

totaling a revenue of 67 thousand billion baht”

[racket]

Wait till we get to Thailand 5.0. You’ll get a Thai Elite Visa for 50,000,000.00 and receive nothing in return. 

[eastendanto]

7 hours ago, pokerface1 said:

Okay book me in pls

I'll have two please .. does the scam... sorry mean scheme include airmiles for buying ????

[Expat60]

If you can afford the 32 million the question would be, why would you choose to live in Thailand!

[Howiehotspur]

This might just Top the lot .. 

I cannot believe even ONE person in the World would go for this … 

and if they did , they don’t need to work anyway. .. million dollars to basically throw away .. 

[Sambotte]

Many here (including the news redactors) look like they did not really understand it's an investment privilege.

More like a technicality.

One invest in real estate, in equities, in a business, etc., having already an Elite visa, will have less trouble if he/she needs a work permit, for whatever bureaucratic reason, period.

High level, but nothing unreal.

You guys seriously thought it was to look for a job ? ???? Ho wait some did not read the actual article ? ????

Who looks stupid here ? ????

 

Edited February 18, 2022 by Sambotte

[NorthernRyland]

3 hours ago, Oxx said:

Consider the blatant gerrymandering and the flagrant attempt to make it difficult for ethnic minorities to cast their electoral votes because white Americans are better than everyone else.

This is what you get, a broken society that cannot function like a democracy.

Let me guess, whites are already a tiny minority globally and now you want us to be a minority in our own country by allowing non-white permanent immigration? Has living in Thailand taught you nothing about what it means to be a minority without political power? If white America wasn't so stupid they would have shut this entire thing down already but that hasn't nearly happened despite what you're suggesting.

[Leaver]

7 hours ago, koratkarlos said:

I find their proposed elite visa quite insulting.  Who do you think we are?  Are we really that stupid to spend 32 million THB to get a low paying job?  When will this government wake up to reality?  

 

They seem to be relying heavily on the "Thailand brand."  Some years ago, Thailand had that "pull" but Thailand is just not that popular anymore.