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

[daveAustin]

Gotta be mishap; by work they’re surely on about companies as opposed to manual labor. I mean, who dafug millionaire is gonna drag their ass across oceans to clean windows in Thighland?

[mokwit]

3 minutes ago, Leaver said:

 

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.    

I believe Phuket was an "in" destination in the 80's.

[Leaver]

7 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....

 

Whilst the 1900 baht a year might stay, or just rise a little, you can expect the criteria for retirement visas / extensions to change in the future.  Only a matter of time.  

 

800k will probably go to 1.5 million, and 65k will probably go to 100k a month.  

[Sambotte]

READ THE ARTICLE guys.

You look terrible...

[mran66]

8 hours ago, ChC1 said:

For USD$250,000 plus plus you can buy an EU passport from countries like Cyprus, Malta, Hungary or Portugal. In some countries, you get a house in return.

 

For USD$250,000 you can buy an universally recognised passport and residence right from Caribbean countries like St. Kitts or Dominica. And, the money you spent is not disappearing, it is actually an investment fund (normally state run sugar development fund) to those countries so you would receive some back.

 

For less than USD$1 million you can buy a residence right in UAE or Qatar with a big house and room for maids and drivers.

 

For over USD$1 million you buy nothing in Thailand but right to work. Tell me the options: what work Thailand can offer for a millionaire? I am waiting.

 

Thailand obviously has a lot of bridges for sale. I wonder which Russian, Iranian, North Korean or Chinese would like to buy.

 

 

Every now and then, when bump to these funny policy news, I start thinking what might have been the thinking in the minds of the people who come up with them. This one triggered that thinking again.

 

In private world, at least in my experience, there is always a thorough thinking of the purpose of the offering as well as thinking thru the logic and value proposition from target audience (customer usually) point of view, trying to understand how the targets thinks about the offering, what's the value proposition, and what are the key issues in customers mind that lead to positive choise.

 

Trying to think this one with that approach I just can not get the logic, even trying to think with Thai mindset. I understand countries (like Cyprus) that sells passports to Russians as they see the value to get EU passport. I understand payments for retirement visas in number of countries as retirees see the value in those places based on their personal preferences. Even understand the Elite visa as it gives easy residence for sub 50 people who want to live here for whatever reason (often tax reasons involved I guess, especially in Thailand).

 

However, for who this 3.2M work visa is for I just can not get it. People who want to work or have work permit here, there is much easier/cheaper to get the visa than 3.2M and the paperwork. People who want to invest 3.2M or more, they invest regardless of getitng visa or not, and many will actually get some other visa anyway because of the reasons behind the investment (business). And people who just want to invest without need for residence, they see little or no value for the Elite visa.

 

My conclusion behind this one is the logic of gambling/lottery - as we know, many Thai like that for habitual/cultural reasons. People in the Elite office probably thought this like using the effort to buy a lottery ticket i.e use little bit of effort for something that is very unlikely to create positive outcome (someone paying the 3.2M), but the effort was small, comparable to 100baht lottery ticket, and the reward even if very small probability, would bring big reward in case some ignorant people actually would end up buying it.

 

Or could it be the lazy drunkard fisherman approach i.e fisherman too lazy to fix the old broken net, yet he goes out with his boat and throws the net into sea in hope of getting a big fish (all normal sized will go thru the holes), even if likelyhood is really small? Actually this is kind of variantion of the lottery logic.

 

Or is it just that they try to do a small upsell (i.e sell the elite visa as value add by-product) for those who buy a condo here, and see the incremental Elite visa cost to be small increment to overall package, getting some additional benefit with it, work permit being a small incremental offer without any cost to goverment? 

 

Go figure

Edited February 18, 2022 by mran66

[Hockeybik]

So...IF I had a million dollars... would the best place to invest it really be in a visa so I can work? Why would I work if I had a million dollars? Please point me to anyone who falls for this. I have great deal on a bridge I can sell. 

[Macthehat]

Seems decision makers are smoking too much of the funny stuff ????

[connda]

You can capitalize a business for 2 million THB and obtain a work permit.

32,000,000 THB.  That's laughable. 

[ukrules]

7 hours ago, mvdf said:

With an investment of upwards of USD 1m one qualifies for permanent residence or even CITIZENSHIP in some of the most economically stable and prestigious jurisdictions on this planet. An investment rewarded with residency rights which are valid for LIFE, rather than just 10 years, without any obligation to report every 90 days. An investment that allows employment privileges sans restrictions and property purchase sans conditions and dual pricing risks.    

 

I use the word "upwards" above because anyone who intends to invest $1m in a 10 year visa is presumed to have liquid and disposable assets of far more than $1m. I don't understand the intracranial dynamics whirring in the heads of people behind this visa-for-investment schemes. It is extremely expensive and very very very one-sided and selfish. The investor is shamelessly urged to inject at least $1m in the local economy whilst also being reminded "this is all you get in return, mind the time limit, report back in 10 years for expulsion"

 

It sounds like you also have to buy the visa as well as the investment.

[Suradit69]

12 hours ago, SGD said:

a never ending series of ever more stupid "investment opportunities" for westerners ?

Many people, not just in Thailand, have found the stupidity of westerners to be a rich generator of highly profitable schemes.Ponzi, Nick Leeson, Bernie Madoff, the RNC and much of the political establishment in western countries quickly come to mind as exploiters who know where the clowns congregate.

 

Are only westerners targeted or is that your interpretation?

Edited February 18, 2022 by Suradit69

[Mr Meeseeks]

9 hours ago, ThailandRyan said:

....and who is going to hire a 50 something foreigner?

In certain sectors, oil and gas being one, the maximum age under the petroleum act to get a work permit is 60.

Edited February 18, 2022 by Mr Meeseeks

[ChC1]

4 hours ago, wprime said:

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

Sure.

 

But have you thought about the day when you need to withdrawn the $1 million investment? Good luck with that.

[Mickmouse1]

???????????????????????? NO NEED 2 KOMENT..LOL????????????

[Mickmouse1]

1 hour ago, connda said:

You can capitalize a business for 2 million THB and obtain a work permit.

32,000,000 THB.  That's laughable. 

You are neither supposed to know or say that ????????

[Mickmouse1]

I guess their survey result (amongst the DHs) has given them the impetus to declare that ludicrous decision. 

[Alidiver]

If a foreigner owns  $1 million hotels/business, he will no longer need to employ a manager.

[Walker88]

"Flexible Plus Program, as well as existing members of the Thailand Elite Card, Elite Ultimate Privilege, Elite Superiority Extension and Elite Privilege Access will be granted the right to work in Thailand."

 

Tesco-Lotus must have been having a sale on "pluses" and "superlatives", as these are showing up increasingly in every Thai program, from the various special card/visa programs to SHA, SHA+, SHA++ hotels and restaurants.

 

It kind of reminds me of how housing developments are named in China....such as "Golden Fortune Double Happiness Beverly Hills Shores".

[Felt 35]

Elite - developing country????

[xtrnuno41]

My government spends 17.5 billion baht in Thailand, does that also counts?

I can work with Thai eleite?

[Harveyboy]

yep if i had 32 million in the bank id seriously be worried about working here ..only in thailand eh 

[Harveyboy]

they will be lucky to get the 2 week millionaires and backpackers to come the way the country is...times have changed i suppose someone forgot to tell the government eh 

[multatuli]

13 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?  

Never

[ericthai]

15 hours ago, NanaSomchai said:

I would say it all boils down to a couple of things;

 

- How well can you casually dress up?

- Do you have any (albeit very basic) knowledge of the Thai language?

- Are you okay with smiling and doing a wai salute?

- How many 1000 THB bank notes are you willing to insert between the first 3 pages of your passport?

- Also are you border hopping by yourself or with a tour agent or is your Thai miss accompanying you whom can do the "talking" part on your behalf?

 

It boils down to some of these things at the very least.

20+ years ago sure using visa exempt (not visa on arrival) you could do boarder runs like this, but those days are gone. The govt cracked down on that looong ago. You can get by with a few boarder hops but trying to stay 1yr plus on visa exempt doing boarder runs will no longer work.

[cncltd1973]

16 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

 

I wonder if this is for people who need to launder money? Maybe the fast track to set up a shell company, move the cash through Thailand and wire it back out to your own country. I don't know how these things work in Thailand, but it's a struggle to find a practical reason to pay that price to just have a job in Thailand!

[cncltd1973]

17 hours ago, SGD said:

Do the people who have to administer this farce ever question the stupidity of their paymasters who come up with a never ending series of ever more stupid "investment opportunities" for westerners ?

 

Can they even comprehend just what 32,000,000 actually represents, if they are earning 20/30k a month ?

 

Yet no-one who has $1m plus lying around is stupid enough to invest it in Thailand simply to get a work permit.

I bet if you read the fine print, it's the price to pay if you want to launder money through Thailand. I imagine the people that will pay $1m won't be the people that actually work an honest living. There's way too much dirty $ in the world and people have to get creative to clean it up. $1m is nothing compared to the estimated $1.6t in dirty money, it's just the price to pay to sit at the table for these scumbags...

[CartagenaWarlock]

20 hours ago, timendres said:

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

I have a twenty year card and I only spent one percent of my cash to obtain it. No, I'm not paying 33% of my cash for the privilege of a work permit. I can park my cash in S&P 500 index fund and get the historical rate. May be good for someone if wanted to start a company. 

Edited February 18, 2022 by CartagenaWarlock

[nattaya09]

Sometimes the best comedians are the ones who don't realize they are making a joke

[volsfan]

I think the one million USD "investment" would be on top of the astronomical price you need to pay to get the visa in the first place. Although I guess of you are dumb enough to put in the million, another 20 grand is chump change 

[Soikhaonoiken]

This is what they call bribery... 

You give us 32 Million Baht,  and we will give you a piece of paper,, that's why this Country is blatantly corrupt, and advertise the fact.... 

[Exilerunner]

On 2/17/2022 at 9:25 PM, timendres said:

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

For that cash I can get a passport of New Zealand or Canada as well - Anybody doing that is nuts