Thailand's 5-20 Year Visa Now a Bit Cheaper

[webfact]

 

The Thai Privilege Visa (TPV), previously known as the Elite Visa, has recently suspended its 50,000 baht (approximately US$1,500) registration fee that was used for background checks of applicants.

 

This fee waiver is available for applications submitted from the beginning of September to the end of 2024. The TPV offers various visa options ranging from 5 to 20 years, each featuring unique perks and bonuses, with current prices spanning from 900,000 baht to over 2 million baht.

 

In a recent announcement, the Privilege company, wholly owned by the Tourism Authority of Thailand, stated that this move aims to attract more new members during a period of economic uncertainty and evolving visa policies.

 

The timing of this decision hints that the primary motive may be to compete with new visa options such as the 10-year Long Term Residence Visa and the recently introduced 5-year Destination Thailand Visa.

 

Additionally, travellers now have easier access to Thailand with options such as a 60-day visa on arrival, extendable by another month at Thai immigration, and border-hopping for repeated stays, writes Barry Kenyon for Pattaya Mail.

The Elite Visa, launched in 2003 and transferred to the Privilege Card in 2013, has always included benefits like multiple entries, fast-track services at Thai airports, and discounts at selected retail outlets, hotels, spas, and golf courses.

 

Although its appeal initially fell short of expectations, the Covid-19 pandemic saw a surge in applications from affluent visitors who sought the flexibility to enter and exit Thailand at will. It is estimated that the current enrollment stands at around 30,000, with the largest group coming from China.

 

Originally conceived by then-Prime Minister Thaksin Shinawatra, the Elite Visa struggled to meet its ambitious membership goals. Early promises that members would be allowed to purchase a small plot of land in their name for residential use were eventually vetoed by the Cabinet.

 

Over the years, the rules for different TPV categories have become increasingly complicated, with higher-cost options offering more generous perks. While all nationalities except North Koreans are now eligible to apply, the future of the TPV remains a contentious issue.

 

Ultimately, the suspension of the registration fee and other strategic changes come as part of an ongoing effort to make Thailand more attractive to long-term international visitors, despite the complexities and controversies surrounding the visa.

 

Top: File photo

 

-- 2024-09-14
 

 

 

[Sumiyoshicho]

A tiny step in the right direction. Will need to decrease considerably the actual visa cost to really beef up the Elite visa holder figures.

[Zack61]

Won’t influence my decision one iota. 

[Mburo]

Fiddling around as usual.

[cedel]

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

Open your eyes, you want more money flow into thai economy, you propose new and easier visa on 1 hand, but on the other hand with the proposals of former PM Sretta of taxing foreigners who stay more than 6 months per year in Thailand you make everyone step back from investing buying properties in Thailand and they will reduce their time to stay less than 6 months per year in Thailand or simply move away, sell their property in Thailand and consider more friendly, more attractive, and less greedy neighbooring countries like Viêtnam, Cambodia and the Philippines that don't have automatic fiscal exchange like CRS from the OECD, or FATCA and will not want to tax foreigners like that ! 

That's without counting that it's still not allowed to buy like almost everywhere in Europe or other continents a real plot of land with the house)(without employing thai nominees in a company to own the Land which is still illegal! although done by hundreds of thousands if not millions of foreigners) and have the same rights on it than locals, plus no social security even if you would pay your taxes in Thailand. add countless reports and paperwork with immigration... and more hassles, time loss and money spent with filing proper tax report paying lawyers/accountant in Thailand as in your home country.. 

I think you can make even free 20 years visa, if you are going into this direction with the taxes, and no advantages for us but only burdens, it's not going to work, that's a fact and logic ! 

Edited Friday at 10:44 PM by cedel

[bkkcanuck8]

They should decrease the upfront cost of the visa and give an option to pay in annual subscription fee based on the current price (i.e. pay over the lifetime of the visa in installments - but allow for significant savings paying for it upfront).  50K baht is not going to give any more people any incentive to do so...  They can lower the price by having core features (i.e. visa + handing yearly admin work for you) - then have addon benefits for those that really want more benefits.

[hotchilli]

1 hour ago, webfact said:

This fee waiver is available for applications submitted from the beginning of September to the end of 2024. The TPV offers various visa options ranging from 5 to 20 years, each featuring unique perks and bonuses, with current prices spanning from 900,000 baht to over 2 million baht.

Still a rip-off.

[ryandb]

Great but the USD has dropped from close to 37 to 33.2 so it costs way more for most people as the Euro and Pound have also plummeted. No idea why you'd do this with the new DTV anyways.

[spidermike007]

They just don't get it. Wealthy people have many options. Many nations are offering far more favorable terms, as they actually have smart people working on visa policy. Thailand appeals mostly to those of us who have financial limitations. The goons seem to think it is the other way around. Good luck with the 6 applicants. 

[mokwit]

1 hour ago, cedel said:

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

Open your eyes, you want more money flow into thai economy, you propose new and easier visa on 1 hand, but on the other hand with the proposals of former PM Sretta of taxing foreigners who stay more than 6 months per year in Thailand you make everyone step back from investing buying properties in Thailand and they will reduce their time to stay less than 6 months per year in Thailand or simply move away, sell their property in Thailand and consider more friendly, more attractive, and less greedy neighbooring countries like Viêtnam, Cambodia and the Philippines that don't have automatic fiscal exchange like CRS from the OECD, or FATCA and will not want to tax foreigners like that ! 

That's without counting that it's still not allowed to buy like almost everywhere in Europe or other continents a real plot of land with the house)(without employing thai nominees in a company to own the Land which is still illegal! although done by hundreds of thousands if not millions of foreigners) and have the same rights on it than locals, plus no social security even if you would pay your taxes in Thailand. add countless reports and paperwork with immigration... and more hassles, time loss and money spent with filing proper tax report paying lawyers/accountant in Thailand as in your home country.. 

I think you can make even free 20 years visa, if you are going into this direction with the taxes, and no advantages for us but only burdens, it's not going to work, that's a fact and logic ! 

They think Thailand is so special the rich will be "flocking" here. How has attracting the global rich worked out so far?

[Wiggy]

1 hour ago, cedel said:

plus no social security even if you would pay your taxes in Thailand.

I have social security here, and I’m not a Thai. 

[mokwit]

6 minutes ago, Wiggy said:

I have social security here, and I’m not a Thai. 

You have to have worked here to get onboard. Cannot work on Privilege visa.

[Korat Kiwi]

I'm waiting for these boffins to suddenly increase the fares on all tourist or long stay foreigners. 

 

Just like what has occurred in areas where tourism didn't reach the numbers predicted.  For example:

Room rate 700 baht

But only 10 customers = 7000baht

so bump rate to 1000 baht

10000 baht, now good money. 

 

Dumb way of thinking but some stick to this and wonder why they now have no customers. 

 

Or commercial property owners who would rather leave a building empty (Sometimes for years) rather than take a lower lease rate. 

 

Thailand seems to be heading that way... shooting itself in the foot. 

 

But don't worry, China is on its way. 

[10baht]

1 hour ago, cedel said:

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

Not going to happen.

[gravity101]

It's only a marketing ploy to get you through the door and apply for free. (Just as the LTR Visa does). It's not trying to solve the unsolvable issue the TAT has, that's It's been totally undercut by the LTR and DTV visas, because it can't.

[Robert Tyrrell]

Good morning , 🙂

 

What I'm reading here is a whole lot of nothing !!!! 🙂

Common sense for me anyways !! 🙂 20-25 Minutes from my local Immigration office 🙂 In the third largest City in Thailand 🙂 The Land of Smiles !! 🙂 

Go to Immigration 5 times a year , The longest time spent there to accomplish what is needed to continue legally maximun time 2 hours or less to be Retired in Thailand with my Thai Family 🙂 total annual cost documents cost and 12 month visa about 2,504 Baht per year annual cost 🙂 I'm GOOD !!!! 🙂

 

Safe and Healthy Wishes to All !! 🙂

[Cabradelmar]

Largely meaningless as the 50,000 bhat is refunded and applied to the cost of membership when the application is approved anyway. And there almost always approved.

[retarius]

39 minutes ago, Robert Tyrrell said:

Good morning , 🙂

 

What I'm reading here is a whole lot of nothing !!!! 🙂

Common sense for me anyways !! 🙂 20-25 Minutes from my local Immigration office 🙂 In the third largest City in Thailand 🙂 The Land of Smiles !! 🙂 

Go to Immigration 5 times a year , The longest time spent there to accomplish what is needed to continue legally maximun time 2 hours or less to be Retired in Thailand with my Thai Family 🙂 total annual cost documents cost and 12 month visa about 2,504 Baht per year annual cost 🙂 I'm GOOD !!!! 🙂

 

Safe and Healthy Wishes to All !! 🙂

What you are telling us is that increases are coming. 

[BKKKevin]

This visa was doomed with the last price increase… 

[mikeymike100]

2 hours ago, hotchilli said:

Still a rip-off.

Indeed as are many things in Thailand, they think foreigners are just stupid, many are of course?

[rocketboy2]

The boys from Thailand's think tank ,  are at it again. 

 

[Taboo2]

That is a good start.

[Ben Zioner]

4 hours ago, webfact said:

In a recent announcement, the Privilege company, wholly owned by the Tourism Authority of Thailand, stated that this move aims to attract more new members during a period of economic uncertainty and evolving visa policies.

The word "Taxation" has been diplomatically left out.

[Qld4000]

1 hour ago, 10baht said:

Not going to happen.

Why on earth would the rich retire here……it’s a no brainer .

The heat, the insects, soi dogs , pollution , the stench of cats piss everywhere , devoted & trustworthy women 🤪,  clear & transparent Govt policies,  “interesting “ foreign visitors & overstayers,  top notch road conditions where common courtesy & decency is widely practiced….the list goes on. 

Oh …you could also throw in cheap living , but the wealthy are in no need of that .  

[Presnock]

36 minutes ago, mikeymike100 said:

Indeed as are many things in Thailand, they think foreigners are just stupid, many are of course?

They are probably looking at the foreigners from the US - you know the really smart ones, the MAGA folks believing everything Trump says so yeah those foreigners are stupid in the minds of the Thai.

[Ben Zioner]

1 hour ago, Wiggy said:

I have social security here, and I’m not a Thai. 

Who, other than you and Yourself, give a rat's arse about your social security? The point is that tens of thousand foreigners will pay IT, at the same rate as Thais, and will get zero, zilch, nada in return. 

 

It makes it a duty to leave, at least 185 days a year. But that's what the Chinese masters want anyway.

[cnx101]

Wouldn’t want it if it’s free

[black tabby12345]

3 hours ago, cedel said:

Why on earth would a wealthy person want to reside in Thailand if his WORLDWIDE income would be taxed more than he managed to do so far? 

Open your eyes, you want more money flow into thai economy, you propose new and easier visa on 1 hand, but on the other hand with the proposals of former PM Sretta of taxing foreigners who stay more than 6 months per year in Thailand you make everyone step back from investing buying properties in Thailand and they will reduce their time to stay less than 6 months per year in Thailand or simply move away, sell their property in Thailand and consider more friendly, more attractive, and less greedy neighbooring countries like Viêtnam, Cambodia and the Philippines that don't have automatic fiscal exchange like CRS from the OECD, or FATCA and will not want to tax foreigners like that ! 

That's without counting that it's still not allowed to buy like almost everywhere in Europe or other continents a real plot of land with the house)(without employing thai nominees in a company to own the Land which is still illegal! although done by hundreds of thousands if not millions of foreigners) and have the same rights on it than locals, plus no social security even if you would pay your taxes in Thailand. add countless reports and paperwork with immigration... and more hassles, time loss and money spent with filing proper tax report paying lawyers/accountant in Thailand as in your home country.. 

I think you can make even free 20 years visa, if you are going into this direction with the taxes, and no advantages for us but only burdens, it's not going to work, that's a fact and logic ! 

 

Land run by those with short memory/lacking overall coordination.

Today, talking about overtourism. Tomorrow, worrying about not getting enough visitors.

Expelling 180000 migrant workers. Then saying they are  short of manual laborers.

[ChrisKC]

I am glad I am not wealthy! 

 

Why? 

 

I don't need to be! 

[Rolo89]

I paid this fee and never completed as the DTV was coming. The airport fast track would kinda be nice but not worth $450 a month! They could double or triple the cost of this and it would be worth it if it got tax breaks. 

 

The security checking for this took weeks and loads of paperwork, DTV took 10 mins to apply for 48 hours to be approved.