The Elite visa.....Does it have a purpose any more?

[Rob Browder]

27 minutes ago, JBChiangRai said:

I don’t think they will cancel the retirement visa, but I do think the 800,000 will go up to 2 or 2.5 million at some point in the next 20 years.

This is the "Thailand becomes more wealthy" possible-future.  I would look at the 10-year visa options, which are a better predictor of possible future options - money can be abroad / earning decent ROI, etc. 

 

Bottom line - if Thailand becomes "too rich for my blood" - to spite my being insulated from rent fluctuations (own my own condo) - and assuming no grandfathering of retirement-qualifications - I could take my retirement-bank-money and condo-sale money (or rental income from it) to a more-affordable destination.

[motdaeng]

51 minutes ago, JBChiangRai said:

I don’t think they will cancel the retirement visa, but I do think the 800,000 will go up to 2 or 2.5 million at some point in the next 20 years.

 

that would be fun ... but of course, not for everyone ...

if i am not mistaken, some visa adjustments are announced for the end of this year ...

[Ben Zioner]

18 hours ago, george said:

900k

That's only 36 times the LTR. 

[redwood1]

2 hours ago, motdaeng said:

 

that would be fun ... but of course, not for everyone ...

if i am not mistaken, some visa adjustments are announced for the end of this year ...

.. 

Edited July 21 by redwood1

[redwood1]

3 hours ago, JBChiangRai said:

I don’t think they will cancel the retirement visa, but I do think the 800,000 will go up to 2 or 2.5 million at some point in the next 20 years.

 

 

 

But peoples money is only insured for 1 million baht now in Thai banks....So if you had to keep 2 million in a Thai bank for a O Visa....That would be asking people to put their money at risk......

 

And who knows, they keep lowering and lowering how much money can be insured...Heck they could very well lower it again..

Edited July 21 by redwood1

[JoseThailand]

On 7/19/2024 at 6:42 PM, DrJack54 said:

How many folk are reading too much into no limit on land border entries.

Visa exempt entries already have no limit via air.

That does not guarantee entry..

 

That's why there are border run companies lol

[bigt3116]

13 hours ago, Rob Browder said:

Reality is published in the Gazette - "unlimited" entries for 5 years.  180-days stamped in at each entry. 

 

Guess you read Thai? Cos I can only find the entry in Thai, do you have a link to a copy in English?

[Rob Browder]

8 hours ago, bigt3116 said:

 

Guess you read Thai? Cos I can only find the entry in Thai, do you have a link to a copy in English?

Here is where an English translation was posted:
https://aseannow.com/topic/1328520-5-year-multiple-entry-dtv-visa-destination-thailand-from-2024-xx-xx/?do=findComment&comment=19067525

[LivinLOS]

On 7/21/2024 at 1:05 AM, JBChiangRai said:

I would still prefer to buy the 20 year Elite visa knowing with absolute certainty I am all set for 20 years.

The assumption that the Elite visa scheme survives this would not be what I call absolute certainty. 

[LivinLOS]

23 hours ago, Rob Browder said:

You think they are going to cancel retirement-based extensions?  If you have the elite-money - easy to put a piece of that in the bank, then let an agent handle every year's extension (100% legally - no fake-funds), and not set your money on fire for nothing.

 

Or get an LTR, have 0 tax worrys.. 

Elite has been made redundant on all levels.. long stay, short stay, etc.. I doubt the company will manage to keep paying out its promised obligations and costs and as a private company the government can disown itself of it. 

If I could short it I would. 

[James105]

On 7/20/2024 at 6:35 PM, papersource said:

There is a TE office in the basement of Chang Wattana. About a month ago I spoke with a rep there and complained about the income tax and why does LTR get tax benefits and we don’t and we pay much more.

 

He said the company is aware that this is a big problem and are trying to do something to help us. Anything they do will have to be approved by Parliament. He said that he hopes that TE will have something for us by year end. 

 

He may have been BS ing me but I just wanted to post this fwiw.

 

 

If the Elite visa gets the same tax breaks as LTR then it will be worth the money, even at the increased prices they are now.   I should be eligible for the LTR next year but if Elite manages to get the tax benefits then it would be nice to have this option in reserve just in case the LTR doesn't work out.  

[redwood1]

3 minutes ago, LivinLOS said:

 

Or get an LTR, have 0 tax worrys.. 

Elite has been made redundant on all levels.. long stay, short stay, etc.. I doubt the company will manage to keep paying out its promised obligations and costs and as a private company the government can disown itself of it. 

If I could short it I would. 

 

I bet these are sad days around the elite office.....

 

Even if they have to trade in the plush office furniture and the view for some hole in the wall office, I bet the elite will continue to some how limp along in one form or another.....

[Presnock]

On 7/19/2024 at 7:05 PM, ukrules said:

 

Only extensions of stay need to be done by the passport holder.

 

90 day reports could be done by your cleaner if you want, also this is on any visa, not just the TE visa.

I suspect you're getting confused by the part where TE will go to Chaeng Wattana on your behalf - well anyone can do that on any visa, always could

NO 90 DAY REPOTS ON LTR

[GammaGlobulin]

Definitely, the Elite Visa could have a purpose for me.

I would consider the Elite if the price were lowered very significantly.

Definitely I would.

Then, there would be a good purpose which would motivate me to buy.

 

Edited July 22 by GammaGlobulin

[LivinLOS]

1 hour ago, redwood1 said:

 

I bet these are sad days around the elite office.....

 

Even if they have to trade in the plush office furniture and the view for some hole in the wall office, I bet the elite will continue to some how limp along in one form or another.....

Who will fund it though.. I cant see the Thai taxpayer picking up the bill so westerners can get limo service ?!? 

Edited July 22 by LivinLOS

[Caldera]

1 hour ago, LivinLOS said:

Who will fund it though.. I cant see the Thai taxpayer picking up the bill so westerners can get limo service ?!? 

 

Realistically, that's the biggest potential issue. If they cannot find enough new buyers any longer, how are they going to pay for the services they owe their existing customer base?

 

The visa fees those customers paid upfront have probably been spent on marketing already - those worldwide marketing campaigns haven't been cheap. 

[LivinLOS]

1 minute ago, Caldera said:

The visa fees those customers paid upfront have probably been spent on marketing already - those worldwide marketing campaigns haven't been cheap. 

 

Were they not losing money hand over fist already.. I seem to recall that. 

Wheres the funding coming from to maintain all these promised services now ?? 

Its old but https://asia.nikkei.com/Economy/Thailand-hikes-price-of-5-year-visa-as-foreigners-seek-COVID-haven

 

Thailand Privilege Card had a cumulative loss of 555 million baht as of fiscal 2019. The price increase for the cash cow package comes as the company aims to reach a profit within two years.

The company attributed the price hike to "higher operating costs," without elaboration. It said prices of the other types of elite visas will not change.

 

[lisaflisa]

Of course Thai Elite is obsolete now. Sure, "peace of mind", yada yada yada... The fact is that DTV is way cheaper, and benefits and peace of mind are not that different.

 

TPC really needs to exempt all current and future members from tax, just as the LTR does. Otherwise, they will have to close down that shiny office in Sathorn. Giving people more golf discounts and buy one burger, get one free burger at MOS will just not cut it.

[Caldera]

59 minutes ago, lisaflisa said:

The fact is that DTV is way cheaper, and benefits and peace of mind are not that different.

 

The DTV looks like a suitable stop-gap for someone who currently doesn't have a longterm visa option. If no such longterm option materializes during the 5 years it's valid, however, the peace of mind is relatively short-lived.