Thailand shakes up golden visa scheme, hikes prices by up to 500 per cent

[webfact]

Thailand’s Thai Elite golden visa scheme has undergone a significant overhaul, now rebranded as Thailand Privilege and with price hikes ranging from 50 per cent to 500 per cent across different packages.

 

The move, coinciding with its 20th anniversary, was announced by Thailand Privilege Card Co. (TCP), a Tourism Authority of Thailand subsidiary.

 

The former Thai Elite visa, priced at one million baht (US$28,587) and available to all, has given way to an exclusive Reserve Card, which is by invitation only and limited to just 100 new members annually. This costs five million baht. Holders of the Reserve Card can keep the good times rolling with five-year extensions, each at a mere 10 per cent of the Reserve card’s current value when they decide to extend.

Meanwhile, the popular five-year visa package, previously valued at 600,000 baht, has been rebranded as the Gold Card, now priced at 900,000 baht. Additional options include the Diamond Card (15 years for 2.5 million baht) and the Platinum Card (10 years for 1.5 million baht).

 

By Anne Somanas

 

Full story: https://www.ttgasia.com/2023/08/31/thailand-shakes-up-golden-visa-scheme-hikes-prices-by-up-to-500-per-cent/

 

-- TTG Asia 2023-09-02

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

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[bob smith]

5 million baht to take part in the perpetual game of the ever changing goal posts, that is the thai elite visa?

 

Thanks, but no thanks!

[Adumbration]

Next stop repricing or elemination entirely of the Non-O...

[Ralf001]

Each yearly extension costs Bt.500,000 ?

[spidermike007]

Since they cannot attract much in the way of wealthy ex-pats due to a dozen good reasons why those with wealth choose other nations over Thailand, might as well hike the fees. That is a long standing Thai tradition. When demand is low, raise the prices. Just common sense, right?

[WHansen]

In typical Thai fashion, if expected revenue comes up short, increase prices to make up for losses.

How about lowering prices to increase sales or is that beyond logical thinking.

[Shuya]

Nothing more than a green card scheme for criminals

[Taboo2]

Translation - we need rich people and all peasants are not welcomed.

[bob smith]

49 minutes ago, spidermike007 said:

Since they cannot attract much in the way of wealthy ex-pats due to a dozen good reasons why those with wealth choose other nations over Thailand, might as well hike the fees. That is a long standing Thai tradition. When demand is low, raise the prices. Just common sense, right?

Thai economics 101.

 

Only one way to counter such ridiculous ideas.

 

DONT PAY!

[aldriglikvid]

47 minutes ago, spidermike007 said:

Since they cannot attract much in the way of wealthy ex-pats due to a dozen good reasons why those with wealth choose other nations over Thailand, might as well hike the fees. That is a long standing Thai tradition. When demand is low, raise the prices. Just common sense, right?

 

45 minutes ago, WHansen said:

In typical Thai fashion, if expected revenue comes up short, increase prices to make up for losses.

How about lowering prices to increase sales or is that beyond logical thinking.

I'm always surprised when boomers enters the thread and calls Thai Elite a failed programme. And, most often, ends with the comment "Thai economics, heu heu heu" - and the other Pattaya-boomers sends likes and emoji's. 

The fact (if that interests you) is that active users of the TE scheme is up +400% since 2019 and grew triple digits alone in 2023. They declare revenue and profits annually, and we just learned it's both record revenue and record profits. Demand isn't "low", to the contrary, it's through the roof; and that's why they're increasing prices. 



 

[aldriglikvid]

6 minutes ago, bob smith said:

Thai economics 101.

 

Only one way to counter such ridiculous ideas.

 

DONT PAY!

Demand is through the roof, and that's why they're raising prices. That's not "Thai Economics" but traditional Austrian Economics. 

Where it hurts, I believe, is that you Euro-poors aren't in the crosshair of TPC. The 70's are no more, unfortunately, and your EU-pension can't compete with the Koreans, Japanese or the Chinese. 

[bob smith]

10 minutes ago, aldriglikvid said:

They declare revenue and profits annually, and we just learned it's both record revenue and record profits. Demand isn't "low", to the contrary, it's through the roof; and that's why they're increasing prices. 

could you explain to me why anyone would pay 5 million baht for a visa that you can get legally for 1,900 baht at immigration? 

[Olav Seglem]

No people with "honest money" would pay like this.

Bur surely ok for chinese (and other) with a criminal record.

[aldriglikvid]

12 minutes ago, bob smith said:

could you explain to me why anyone would pay 5 million baht for a visa that you can get legally for 1,900 baht at immigration? 

Don't change the subject now, Boomer. Your first post was that TE was a failed programme and no members. ???? Clearly wrong.

[bob smith]

1 minute ago, aldriglikvid said:

Don't change the subject now, Boomer. Your first post was that TE was a failed programme and no members. ???? Clearly wrong.

so no explanation then?

 

you just like throwing your money into a bottomless pit, I guess.

 

and where did I say that TE was a failed programme with no members?

are you daydreaming? 

[John Drake]

Not a "shake up" but a shake down.

[shackleton]

Good for you if money is no object ????

[ChaiyaTH]

Damn, they really really not even get the slightest idea. This is just so stupid, that it becomes sad. Like you would wish nobody such low IQ. I was expecting a lowering of prices.
 

For example a 5 year elite visa for 250,000 baht, still expensive, but much better.

 

Why on earth would you pay near 200,000 a year upfront for 5 years. You can setup a business for 1/3rd of the cost and still get a business visa, or any other type of visa in 10 directions (with agents).

 

It is that much money you could even establish a company overseas, to then make a business here to have a representative office company and then get a non-b too.

 

I would even keep messing around tourist visa's more likely, as it gives a very big travel budget to make it fun and worth it. Could visit multiple countries far away and many times within SE asia.

[Trippy]

1 hour ago, bob smith said:

could you explain to me why anyone would pay 5 million baht for a visa that you can get legally for 1,900 baht at immigration? 

If not 50 yet, they don't qualify.

[ChaiyaTH]

13 minutes ago, shackleton said:

Good for you if money is no object ????

I'm sorry but even with a million dollar in net worth, I would think this is too much, and do it another way, as that is possible. You can buy a old studio for this money, own property and live rent free. Insane.

[JayClay]

1 hour ago, bob smith said:

could you explain to me why anyone would pay 5 million baht for a visa that you can get legally for 1,900 baht at immigration? 

Could you please explain which visa I could get for 1900bt a year at immigration?

 

I'm single and under 50.

 

 

[pomchop]

Ok good for the rich people.

 

Now get on with the 90 day visa exempt program....and even if you have to charge a bit more so we don't have to leave the country or go stand in line at immigration or fool with all that evisa online aggravation that would be fine with me.

 

Charge $1 usd a day for 90 days no BS no hassle and allow it to be extended one more time for another $1 usd a day....$180 for six months for the snowbirds.

[ChaiyaTH]

1 minute ago, JayClay said:

Could you please explain which visa I could get for 1900bt a year at immigration?

 

I'm single and under 50.

A non-o visa based on a child, you can stay single and be under 50 in theory.

[JayClay]

Just now, ChaiyaTH said:

A non-o visa based on a child, you can stay single and be under 50 in theory.

I also don't have a child

[ChaiyaTH]

1 minute ago, JayClay said:

I also don't have a child

I know, I just state the options as you ask obvious question. You could also get a business visa extension for 1900 baht immigration costs under 50, or a work visa paid by the company.

[impulse]

1 hour ago, aldriglikvid said:

The fact (if that interests you) is that active users of the TE scheme is up +400% since 2019 and grew triple digits alone in 2023. They declare revenue and profits annually, and we just learned it's both record revenue and record profits. Demand isn't "low", to the contrary, it's through the roof; and that's why they're increasing prices. 

Do they publish country of origin?  Because it seems rather suspicious that the program lost money for about 17 years, then suddenly went profitable just when there are thousands of Ukrainians and Russians willing to pay whatever it takes to dodge their respective drafts.  Not to mention the economic SHTF in their neighbor to the north.

 

Edit:  My point being that the sudden jump in numbers may just be a transient thing.  And jerking the price up then having to come back down is the kind of uncertainty that's always cast suspicion on the program.

 

[JayClay]

3 minutes ago, ChaiyaTH said:

I know, I just state the options as you ask obvious question.

Okay next time I ask the "obvious question", I will rephase it..

 

"Could you please explain which visa I could get for 1900bt a year at immigration?

 

I'm single and under 50. I have no children."

 

Would you mind "stating the options" now please?

[ChaiyaTH]

1 minute ago, JayClay said:

Okay next time I ask the "obvious question", I will rephase it..

 

"Could you please explain which visa I could get for 1900bt a year at immigration?

 

I'm single and under 50. I have no children."

 

Do you feel like answering now?

The same answer as given before, you ask a question for which you can or know already, that you are in that case excluded. So either you have to change your life to be able to get one of those visa's or accept the situation you are in and deal with it.

 

If you don't want to do that, you know the answer again already too. In your case you pay more for a yearly variant or have to do multiple visits in and out the country. Such a waste of data this.

[John Drake]

14 minutes ago, JayClay said:

Could you please explain which visa I could get for 1900bt a year at immigration?

 

I'm single and under 50.

 

 

Your post makes me pause and think. If they reform the current retirement extensions and increase the age to match the Thai retirement age of 60, then there are going to be a lot more people needing these expensive Reserve/Elite visas or whatever they call them.

[JayClay]

1 minute ago, ChaiyaTH said:

The same answer as given before, you ask a question for which you can or know already, that you are in that case excluded. So either you have to change your life to be able to get one of those visa's or accept the situation you are in and deal with it.

Yes I know that.

 

But I shall continue to ask the question every time somebody writes something as stupid as "this visa is worthless because you can get the same for 1,900bt/year".

 

I will be sure to include the fact that I have no children next to to prevent you having to waste your data...