Thailand launches Flexible Plus Programme offering privileges for foreign investors

[webfact]

 

The Flexible Plus Programme is available to Thailand Privilege Cardholders with a membership validity of at least 10 years or more, and the value of the membership fee must be more than 1 million Thai Baht.

 

TAT Newsroom

 

Bangkok, 09 March, 2022 – The Tourism Authority of Thailand (TAT) is pleased to announce that the Thailand Privilege Card has launched the Flexible Plus Programme, which is positioned at affluent foreign investors and aims to help stimulate the recovery of the Thai economy.

 

The Royal Thai Government Gazette has published the announcement by the Ministry of Interior on Flexible Plus Programme, which permits Thailand Privilege Cardholders to be granted a work permit under the Flexible Plus Programme. The Programme has been established in order to encourage foreign investment and to revive Thailand’s economic downturn caused by the COVID-19 pandemic.

 

Mr. Yuthasak Supasorn, TAT Governor and Chairman of the Board of Directors, Thailand Privilege Card, said that as of the Cabinet resolution on 19 October, 2021, the investment principle on the Flexible Plus Programme has been granted approval. The Programme offers privileges for Thailand Privilege Cardholders to work under the terms and conditions, thus aiming to urge foreign investors to invest in Thailand.

 

“With interesting economic growth and a good investment atmosphere with high liquidity as well as convenient lifestyle and charming culture, Thailand is an attractive destination for investors to invest. The Flexible Plus Programme is enabling motivation and investment privileges for Thailand Privilege Card membership. With additional premium lifestyle privileges, the Programme helps stimulate foreign investment to Thailand.” Mr. Yuthasak said.     

 

The Flexible Plus Programme is available to Thailand Privilege Cardholders with a membership validity of at least 10 years or more, and the value of the membership fee must be more than 1 million Thai Baht.

 

The three types of card programmes that are eligible for the “Flexible Plus Programme” are 1) Elite Ultimate Privilege (EUP), 2) Elite Superiority Extension (ESE), and 3) Elite Privilege Access (EPA).

 

For existing members to apply for the Programme, their membership must be valid for at least 5 years or more.

 

In addition, members must invest at least 1 million US Dollars within a 1-year timespan after registration or approval of their membership. The three type of investments are 1) real estate, 2) Company Limited or Public Company Limited, and 3) stock in the Stock Exchange of Thailand (other enterprises authorised by the Securities and Exchange Commission).

 

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The Flexible Plus Programme is valid for 5 years and for members to maintain their flexible plus status, they must present proof of investment annually.

 

Mr. Chandhaluk Heesawat, President, Thailand Privilege Card Company Limited, said “The Thailand Privilege Card has over 16,000 members and continues to grow. The privileges for theFlexible Plus Programme members include a change in the visa type status from Privilege Entry (PE) visa to a Non-Immigrant (B) visa, which will allow cardholders to apply for a work permit. The Programme also allows legal spouses and children younger than 20 years of age (maximum 3 children) to change their visa type to a Non-Immigrant visa.”

 

To maintain their status, Thailand Privilege Card participants are required to report themselves and provide investment documents to the Thailand Privilege Card Company Limited every year for 5 consecutive years starting from the beginning of investment.     

                                                                     

The Flexible Plus Programme is being introduced through the offices of TAT and other Thai overseas government agencies in target markets around the world. Online marketing programmes and 27 sales agencies are handling the promotion in the USA and Asian nations that include China, Japan, Singapore, and Hong Kong.

 

The launch of the Flexible Plus Programme in European countries is planned for later in 2022.

 

Mr. Yuthasak concluded, “The Flexible Plus Programme is aimed at attracting foreign investors with high-purchasing power to Thailand and to help boost the economy in compliance with the government’s post-COVID economic recovery measures. In addition to the direct benefits, foreign investors and family members residing in Thailand can generate indirect benefits from their spending on tourism, accommodation, food and beverage, high-end products and services, plus more.”

 

Source: https://www.tatnews.org/2022/03/thailand-launches-flexible-plus-programme-offering-privileges-for-foreign-investors/

 

-- © Copyright TAT NEWS 2022-03-10

 

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[garyk]

Wow, Curious who would actually do this. I am sure their are some that would. But who?

Edited March 9, 2022 by garyk

[Onerak]

Rich people don't desire work permit. What happened to the Nomad Visa? When is it available. Bring people with moderate incomes who would come to Thailand. 

[FalangKino]

3 hours ago, Onerak said:

Rich people don't desire work permit. What happened to the Nomad Visa? When is it available. Bring people with moderate incomes who would come to Thailand. 

You seen the nomad visa requirements?

 

Nomad in name only.

[Onerak]

25 minutes ago, FalangKino said:

You seen the nomad visa requirements?

I see 80KUSD (or 40KUSD according to Bangkok Post) with an MS degree. 

[hotchilli]

4 hours ago, webfact said:

The Tourism Authority of Thailand (TAT) is pleased to announce that the Thailand Privilege Card has launched the Flexible Plus Programme, which is positioned at affluent foreign investors and aims to help stimulate the recovery of the Thai economy.

Bend over and touch your toes, you're about to get ripped. ????

[hotchilli]

4 hours ago, webfact said:

“With interesting economic growth and a good investment atmosphere with high liquidity as well as convenient lifestyle and charming culture, Thailand is an attractive destination for investors to invest.

????????????????????????

[mokwit]

3 hours ago, garyk said:

Wow, Curious who would actually do this. I am sure their are some that would. But who?

People who have $1m to invest but don't mind spending a morning at immigration every year. Must be millions of them.

[Will B Good]

If I were choose one privilege above all others it would a promise not to be scammed..........fat chance.

[FalangKino]

36 minutes ago, Onerak said:

I see 80KUSD (or 40KUSD according to Bangkok Post) with an MS degree. 

How many nomads have that? 0.1 percent.

 

Why call it a nomad visa if it doesn't apply or most nomads can never fit the requirements.

Edited March 10, 2022 by FalangKino

[ThailandRyan]

5 hours ago, webfact said:

The Flexible Plus Programme is available to Thailand Privilege Cardholders with a membership validity of at least 10 years or more, and the value of the membership fee must be more than 1 million Thai Baht.

Still no one who is retired here can invest through conventional means which really tells the story.

[jdlancaster]

I don't understand the work permit part.... Is it open ended and work wherever or however (for yourself)? Then can apply for Permanent Residence after a few years? If you have a job, you'd have a work permit already I think (without having to invest $1 MM)? Can someone explain the angle/advantage here?

[wwest5829]

Dang, missed out again being a retired working middle class westerner. My $2400 USD a month income just under the needed funds to qualify. OK, granted Thailand should pursue all avenues to see what works but ... folks, how many of the rich and famous versus the number of working middle class who could be attracted to settle in Thailand? I suppose it is the old story  of Oscar de la Renta, NYC versus Target customers (note, I did not cite Walmart).

Edited March 10, 2022 by wwest5829

[Misterwhisper]

Wife: "Oh, look at that! Thailand gives out 10-year visas for a mere $30,000..."

Husband: "Wow, that sounds like a great deal!

Wife: "Wait a minute... the small print also says that you're required to invest a minimum $1 million in order to qualify."

Husband: "Really? Hm.... let's instead go get citizenship in Dominica or St. Kitts and Nevis for only a $250,000 investment. No more visas needed at all. AND it's much closer to home,. AND they all speak English there, too."

[mokwit]

3 hours ago, Onerak said:

I see 80KUSD (or 40KUSD according to Bangkok Post) with an MS degree. 

What they don't get is that virtually nobody did a masters degree way back when and so many people who are wealthy will have just done a Bachelors, if that. Some of the smartest wealthiest people I know did not go to University. It is only with the debasing of education that the definition of 'educated' now means a Masters degree, as has always been the case in Thailand. Note I looked at some Thammasat Masters thesis in Finance - they were NOT Masters level as it once was in the West, they were at best prior western undergraduate level.

Edited March 10, 2022 by mokwit

[mikebell]

Give us a million $ and 51% of your company; form an orderly line over there; no sir you cannot buy your own house.

[Cleareye]

5 hours ago, mokwit said:

People who have $1m to invest but don't mind spending a morning at immigration every year. Must be millions of them.

Not to mention 90 day reports, TM 30's, loads of paperwork, and the threat of getting banned for a year if you're late filing for your yearly extension.

[mokwit]

1 hour ago, Cleareye said:

Not to mention 90 day reports, TM 30's, loads of paperwork, and the threat of getting banned for a year if you're late filing for your yearly extension.

I thought they were going to be excused from 90 day reports. Presumably there is a level of wealth where foreigners cease to be a threat to "national security".

[Dan747]

Step 1 – The participant must be a Thailand Privilege Card member.
For privilege entry visa holders, they must upgrade their visa to either Elite Ultimate Privilege, Elite Superiority Extension, or Elite Privilege Access.

Step 2 – Submit your request to Thailand Privilege Card Co. Ltd.

Step 3 – Invest in Thailand
Investment funds must be transferred or invested in the specific type of investment in Thailand within a period of 1 year from the date of requesting to join the program or from the date of approval to become a Thailand Elite Visa member. Total investment value must not be less than 1 million USD which is divided into 3 types of investments.  These include real estate investments, limited company or public company investment, or stock exchange investment.

Step 4 – Eligibility to participate in Flexible Plus Program

Members who will meet the requirements will be qualified to participate in the program are qualified to request a “Work Permit” by applying for a change of visa from Privilege Entry Visa to Non-Immigrant Visa at the immigration office.

Once the visa type is changed, a work permit can be requested in accordance with the conditions mandated by the Ministry of Labour

Upon receiving a work permit, members must report to Thailand Privilege Card, Co. Ltd. and present proof of investment reports annually for 5 years from the initial investment date.

[ThailandRyan]

15 minutes ago, Dan747 said:

Upon receiving a work permit, members must report to Thailand Privilege Card, Co. Ltd. and present proof of investment reports annually for 5 years from the initial investment date.

This part made me laugh....sort of like the annual showing of money in the bank for your extension of stay.  When will all of this horse feces stop and this government get a real idea as to who is coming, is here or who wants to come and retire here.  If one wanted to work here there are already so many steps and hoops to jump through.

[mokwit]

9 minutes ago, ThailandRyan said:

This part made me laugh....sort of like the annual showing of money in the bank for your extension of stay.  When will all of this horse feces stop and this government get a real idea as to who is coming, is here or who wants to come and retire here.  If one wanted to work here there are already so many steps and hoops to jump through.

They are convinced that Westerners are so enamored with floating markets and "Thainess" that they will jump through hoops to experience them.

[ikke1959]

1 million dollar to invest, a lot of paperwork to get your visa, another lot of other and the same paperwork for the labour department, more paperwork and copies required for the yellow book and than you can stay .....A retirement visa is much easier and cheaper... Than I am in charge of my own million ( if I had it ).

[worgeordie]

12 hours ago, webfact said:

Thailand Privilege Cardholders to work under the terms and conditions,

There's the rub , who knows what they will be, they just can't let go.

regards Worgeordie

[grain]

1 mill THB, followed by 1 mill USD, well they're aiming high now...last week they were luring the marijuana tourists.

[Destiny1990]

Another complicated visa arrangement plan that will fail miserably. There are so-many other countries visa wise easier and more affordable to stay longterm.

[DLock]

Set up Thai company 40,000 baht

Pay your lawyer to manage your WP 20,000 baht

Hire 4 Thais to clean your house, wash your car and do your garden 48,000 per month

Pay your lawyer to do 90 day reporting 5000 baht per quarter

Get accountant friend of lawyer to do yearly company audits and pay property tax

Buy property in company name

 

Repeat annually.

 

It's not that hard.

 

BTW, I just guessed these costs because my staff and lawyer handles everything. I have no idea. I just show up once a year to show my pretty face at Immigration for about 30 minutes.

[SantiSuk]

I think I'll stick with the 800,000 baht investment programme visa rather than the "new improved!!" $1 million baht version.

[Onerak]

12 hours ago, FalangKino said:

How many nomads have that? 0.1 percent.

 

Why call it a nomad visa if it doesn't apply or most nomads can never fit the requirements.

Most nomads I have met in my lifetime are earning 100K. There is also a possibility of lots of Chinese and Indian remote workers getting the visa. I know lots of big American companies like Intel, Cisco, AMD, Oracle etc. are hiring Indian remote workers for 60-80K salary. I don't have a definite numbers but I think 40K USD salary will attract a large number of nomads. 

[it is what it is]

1 hour ago, SantiSuk said:

I think I'll stick with the 800,000 baht investment programme visa rather than the "new improved!!" $1 million baht version.

agree, it works well and is very easy to manage once set up.

[connda]

They promote it as a win-win, but when it comes to farangs, nothing the Thai government does is win-win.  The dice are always loaded to favor the house.