Original Elite Visa ForSale

[EdrigoSalvadore]

5 minutes ago, richard_smith237 said:

 

Its the S.E. Visa... which is a 5 year Visa... BUT, I have to do an extension every 90 days.

 

... which seems bonkers.. whats the point of putting a 5 year Visa Page in our Passport, and then allowing us 90 days each entry, or having to get an extension. 

 

Personally - in 15 years of membership I travel so much I've only needed to file an extension twice.... so the inconvenience has not been noticed by myself, however, the S.E. visa is not such a great option for someone who's staying here long term and never travels. 

 

I wonder, if upon transfer Thai Elite would be prepared to switch over the Visa Type from S.E. to P.E. 

 

 

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S.E. Visa (5 Year sticker) - but need an extension every 90 days, renew Visa every 5 years for duration of membership.

P.E. Visa (1 Year sticker) - Renew Visa each year for duration of membership.

 

 

Yeah I got the 20 year elite last year, and I never had to do the 90-day reporting yet either because I also travel too often. For me the 30 year would have been a better choice, but it seems it's mostly suitable for golfers, which I'm not.

[Klonko]

4 minutes ago, richard_smith237 said:

…

Thus the ops 20.5 years of remaining membership with unlimited perks that the op is offering for 3.4 Million baht is 1.6 Million Baht cheaper than the prevailing rate - it also doesn't limit the new member to 120 points.

…

BUT - IF someone is in the market for the 20 year Thai Elite Membership - the Ops deal (and my deal) is a good one - the issue of course is that most people in this forum are not in that market and can't understand those who may be.

There are quite a few people on this forum and many elsewhere who could benefit from a lifetime Elite Membership. However, such people are likely to have already Elite or LTR visa. Further, a prospective buyer needs to play golf and live in the right area for the perks. BTW, the new point system is rather a sales strategy for cheap charlies than for wealthy people.

[richard_smith237]

4 minutes ago, Pattaya57 said:

But you'd have to be stupid to pay 5 million for the 20 year elite when you can get two back to back 10 year elite visa's for 3 million (1.5 million each)

 

True... If from the optics of 'only needing the visa'... 

 

If travelling a lot and using a lot of perks you'd go through the 35 points very quickly. 

 

Example: 

I travel in and out 8x per year (alone) - that 3 points per trip: 24 points total. 

That would allows limited remaining perks... 1 yearly Medical Check up... or 5 massages, or 5 games of golf. 

 

 

Thus for many, IF interested in the Visa alone, then your suggestion above makes sense... 

But, if someone is a frequent traveller and will use the perks a lot - then the higher memberships may be a better choice. 

 

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When I first joined... I used the perks loads. 

Travel in and out about 8x per year - 24 points per year.

Golf 3x per week (when here) - about 52 points per year.

Massage 3x per week (when here) - about 52 points per year.

Full Medical 1x per year - 10 points per year.

 

Thats a total of 138 points with normal usage.... 

 

Usage is less for me know as I've pretty much stopped playing golf and don't use the massage so much... 

So I basically use about 60 points per year. 

 

 

Whether membership or transferring is worth it or not is quite an individual matter.

 

 

 

 

 

 

 

 

 

[richard_smith237]

3 minutes ago, Klonko said:

There are quite a few people on this forum and many elsewhere who could benefit from a lifetime Elite Membership. However, such people are likely to have already Elite or LTR visa. Further, a prospective buyer needs to play golf and live in the right area for the perks. BTW, the new point system is rather a sales strategy for cheap charlies than for wealthy people.

 

Agreed... I believe Thai Elite are shooting themselves in the foot moving towards selling an more expensive service with a limit on perks, rather than just a really solid good value service. 

 

If they were to go back to the 500,000 baht for 5 years Membership - No perks, they'd continue being successful. 

 

I wonder how their new sales and profits look like with the new points system and pricing compared to previous years. 

 

 

 

 

[richard_smith237]

8 minutes ago, EdrigoSalvadore said:

Yeah I got the 20 year elite last year, and I never had to do the 90-day reporting yet either because I also travel too often. For me the 30 year would have been a better choice, but it seems it's mostly suitable for golfers, which I'm not.

 

The 20 years cost you 2 Million Baht last year, full perks ?

 

Which Visa sticker did they place in your Passport ??... S.E. (5 years) or P.E. (1 year) - both renewable for duration of membeship.

 

 

[CanadaSam]

I'll be the first to offer you something, 200,000 baht.

[EdrigoSalvadore]

7 minutes ago, richard_smith237 said:

 

The 20 years cost you 2 Million Baht last year, full perks ?

 

Which Visa sticker did they place in your Passport ??... S.E. (5 years) or P.E. (1 year) - both renewable for duration of membeship.

 

 

I got the 20 years for 1 million thb, with the only perk I use are lounges when departing Thailand. I've got a 5 years sticker in my passport, with 1 year visa every time I enter the country.

[richard_smith237]

22 minutes ago, EdrigoSalvadore said:

I got the 20 years for 1 million thb, with the only perk I use are lounges when departing Thailand. I've got a 5 years sticker in my passport, with 1 year visa every time I enter the country.

 

5 year sticker - but each entry gives you 1 year...     I've not heard of that option with Thai Elite - but its good to know its possible. 

 

It would appear that your visa is a 5 year P.E. Visa (rather than the 5 year S.E. visa which I have).

[Rampant Rabbit]

43 minutes ago, richard_smith237 said:

wonder how their new sales and profits look like with the new points system and pricing compared to previous years. 

I was thinking of getting the 20 year one when I got to 65ish ( 60now) but with their stupid price increase and the perhaps maybe tax situation I guess its  now 

[Pattaya57]

For anyone 50+ you can get a yearly retirement extension + multiple re-entry permit for 30k a year through an agent, so costs 600k baht spread over 20 years. That leaves 2.8 million you can spend on any perks you like 😉

[richard_smith237]

53 minutes ago, Rampant Rabbit said:

I was thinking of getting the 20 year one when I got to 65ish ( 60now) but with their stupid price increase and the perhaps maybe tax situation I guess its  now 

 

I think their biggest market was the 5 year Membership - its seems a lot of people were getting that visa option, I suspect very few now will at that cost. 

 

I think Thai Elite have set their marketing strategy too high and this could cost their bottom line.

 

I can imagine meetings where they are discussing people queueing up for the  5 Million Baht and 2.5 Million Baht memberships and they've projected ahead with fantastical grandeur and no one on the room has stepped back and said... "hang on a minute... really......????"  

 

 

[Lorry]

Interested parties might be happy to hear  that Mosburger is currently running a promotion for holders of the Priviledge card. 

2 hamburgers for the price of one, so if you use this promotion a lot you actually pay not 3.4m,  but only 3.399m

 

Of course,  you have to convince the staff that your Elite card is just as good as a Priviledge card (of which she has pictures)

[Ben Zioner]

On 4/27/2024 at 10:24 PM, fredjaidee said:

Switched to an LTR so don't really need 2 visas.

Good move, but don't you think that at 3.4 M most potential customers will get their own LTR for 1.5% of the price you are asking.

[Ben Zioner]

6 hours ago, richard_smith237 said:

If they were to go back to the 500,000 baht for 5 years Membership - No perks, they'd continue being successful. 

I don't see how that would be possible as long as the LTR is around.

[richard_smith237]

13 minutes ago, Ben Zioner said:

I don't see how that would be possible as long as the LTR is around.

Doesn’t the LTR Visa have specific requirements? 
 

i.e. they want to see a yearly income of US$80,000…  how does that fit with the new tax rules, they guarantee that you’ll only be taxed 17% - that’s US$13,600 

 

Hows the LTR looking in comparison ? 

[richard_smith237]

On 4/27/2024 at 6:24 PM, fredjaidee said:

Switched to an LTR so don't really need 2 visas.

As per my above comment…

 

Any tax issues or were the BOI happy with > US$80,000 overseas income ??? 

[Ben Zioner]

1 hour ago, richard_smith237 said:

Doesn’t the LTR Visa have specific requirements? 
 

i.e. they want to see a yearly income of US$80,000…  how does that fit with the new tax rules, they guarantee that you’ll only be taxed 17% - that’s US$13,600 

 

Hows the LTR looking in comparison ? 

You ought to to your homework. The 17% flat IT applies only to one category of LTR the "Highly Skilled Professionals". The three other categories are exempt on their oversees income.

 

The Elite visa holders don't benefit from any tax exemption.

[Startmeup]

The LTR is only a good option for a specific subset of people. Highly qualified, masters degree types, working for a listed company overseas, niche areas. Not many people apply/qualify for it outside the category of those 50 years old or older with good income. The ones on retirement visas are ones with lower income otherwise the LTR is a no brainer. Its easily the best visa for Thailand if you are over 50 with >$80k p.an income.

If you under 50 you have to invest $500k in Thailand along with a min income requirement of $80k. For those over 50 you only need $40k proof of income if you invest $250k otherwise $80k with no investment. 

It doesn't make much sense for somebody under 50 to go with the LTR compared to the elite unless you are totally set on Thailand and plan on buying a nice place here to live in. That or $500k isn't material to your net worth. That $500k investment into Thailand could be invested elsewhere and it would pay for a 10+10 year elite visa in a lowish risk investment in the space of three years. 

There are personal situation that need to be considered for any visa

[richard_smith237]

On 4/29/2024 at 9:15 PM, Ben Zioner said:

You ought to to your homework. The 17% flat IT applies only to one category of LTR the "Highly Skilled Professionals". The three other categories are exempt on their oversees income.

 

The Elite visa holders don't benefit from any tax exemption.

 

 

Thats why I was asking the question...    (that was the homework)... 

 

i.e. Don't they all have to prove income of US$80,000 and where is that proven ? in Thailand or is an overseas income sufficient.

 

 

And no...    Elite Visa holders don't need to pay Tax in Thailand if their income is overseas. 

 

 

[Ben Zioner]

32 minutes ago, richard_smith237 said:

 

 

Thats why I was asking the question...    (that was the homework)... 

 

i.e. Don't they all have to prove income of US$80,000 and where is that proven ? in Thailand or is an overseas income sufficient.

 

 

And no...    Elite Visa holders don't need to pay Tax in Thailand if their income is overseas. 

 

 

a) US$ 80000 min are supposed to an overseas pension. I know because this is how I got my LTR.

 

b) Elite Visa holders won't be taxed on their overseas pension, but they will be taxed if they remit these funds to Thailand, they may deduct  taxes paid overseas on that income. And this will all depend on the wording an interpretation of their relevant DTAs. A lot of homework in any case.

 

c) There is no rule nor decree exempting Elite visa holders.

[JoseThailand]

Thanks, but no thanks. As a privileged Russian citizen, I spend less than 20k per year on border runs. Unlimited land border entries.

 

Edited May 1 by JoseThailand

[humbug]

Right now 3.4 for 20 years, even with a resell value is vastly over priced, very few people will be paying 5 million for the new invite only package, maybe in 5-10 years time, maybe, 5 million might be a normal price for 20 years peaceful immigration living in the country , who knows, could happen with 10 years without millitary governments in the country to increase the outllook

 

But as a current member, even I look at these new prices on offer and know they are overpriced, too soon in the trajectory of the country to charge this, it took 10 years in the old days for people to view 1 million for 20 years, to be worth peaceful living in the country, this is problem right now with the 5 million package

[Eddie45]

If you purchase an Elite Visa and stay in Thailand for longer than 183 days in a tax year do you need to fill out a tax return.