Pilchard Posted September 12, 2007 Share Posted September 12, 2007 (edited) Did a quick search but could not see this anywhere else, please remove if this has already been posted They jist seems to be you would need 800,000 in the bank for one year retirement visa anyway so why not top up with 200,000 and SPEND 1 Million now to get 5 year Elite card. ((remove URL and advertising "news" item - the Elite card is well known on this forum)) Edited September 12, 2007 by lopburi3 Full quote other website - lopburi3 Link to comment Share on other sites More sharing options...
taxexile Posted September 12, 2007 Share Posted September 12, 2007 for a 200,000 fee , a 5 year elite card suddenly becomes a viable proposition. Link to comment Share on other sites More sharing options...
DFCarlson Posted September 12, 2007 Share Posted September 12, 2007 (edited) For foreigners of retirement age, Elite membership is a serious alternative to the standard retirement visa.To comply with the requirements of a retirement visa, applicants must maintain at least Bt800,000 in a bank account. For just Bt200,000 more, retirees can become members of Thailand Elite. Except for the fact that you can spend down the 800,000 baht during the year and top it off for the followng year... correct? Isn't it true that if you spend 1,000,000 baht on an Elite card that's the last you see of it? Edited September 12, 2007 by DFCarlson Link to comment Share on other sites More sharing options...
Pilchard Posted September 12, 2007 Author Share Posted September 12, 2007 for a 200,000 fee , a 5 year elite card suddenly becomes a viable proposition. Sorry my first post was unclear will edit now . One million for 5 years ( possibly longer , the debate on this part continues) Link to comment Share on other sites More sharing options...
PattayaParent Posted September 12, 2007 Share Posted September 12, 2007 Except for the fact that you can spend down the 800,000 baht during the year and top it off for the followng year... correct?Isn't it true that if you spend 1,000,000 baht on an Elite card that's the last you see of it? Correct Link to comment Share on other sites More sharing options...
sriracha john Posted September 12, 2007 Share Posted September 12, 2007 Elite Card spam: Link to comment Share on other sites More sharing options...
LivinLOS Posted September 12, 2007 Share Posted September 12, 2007 The difference between showing you have 800k and spending 1mil is a lot more than simply 200k 'extra'.. Hardly rocket science. Link to comment Share on other sites More sharing options...
canopus1969 Posted September 12, 2007 Share Posted September 12, 2007 There's also the small (?) matter of going along to immigration every 90 days and paying 1,900 Baht !! Link to comment Share on other sites More sharing options...
midas Posted September 12, 2007 Share Posted September 12, 2007 The difference between showing you have 800k and spending 1mil is a lot more than simply 200k 'extra'.. Hardly rocket science. Damnation! You obviously dont qualify for an elite Card because you are too smart ! Link to comment Share on other sites More sharing options...
chickencurry Posted September 12, 2007 Share Posted September 12, 2007 The difference between showing you have 800k and spending 1mil is a lot more than simply 200k 'extra'.. Hardly rocket science. Damnation! You obviously dont qualify for an elite Card because you are too smart ! I thought the Elite card scheme had been withdrawn? Link to comment Share on other sites More sharing options...
Lite Beer Posted September 12, 2007 Share Posted September 12, 2007 The difference between showing you have 800k and spending 1mil is a lot more than simply 200k 'extra'.. Hardly rocket science. Damnation! You obviously dont qualify for an elite Card because you are too smart ! I thought the Elite card scheme had been withdrawn? It should be. Link to comment Share on other sites More sharing options...
naka Posted September 13, 2007 Share Posted September 13, 2007 There's also the small (?) matter of going along to immigration every 90 days and paying 1,900 Baht !! Uh ! ... Where did you get that information from ... a guy in the pub ? Naka. Link to comment Share on other sites More sharing options...
g00dgirl Posted September 13, 2007 Share Posted September 13, 2007 It should be. Why do you think so? It's a chance for wealthy, younger people, far far away from reaching 50 years, who want a permanent option to stay in Thailand without depending on any other person such as Thai spouse or Thai business partners. Imagine you are under 30 years old with money, dont't want to marry and be dependent on the spouse (even that way, for the 1 year extention now needing to show regular "income" instead of a fixed sum could be a big headache, having to pay yourself a salary from your offshore company into your countries bank account and pay tax on it in the worst case), then how many marriages these days last 20 years or more? Imagine you don't want these kind of headaches plus suspicions from your spouse, should it be a real marriage, you might have married for the visa. Then you could spend the million on starting a business with a Thai partner, sure, be dependent on that partner and the 1 million investment for the company would not be enough to qualify the company to give a work permit to you because the registered capital needs to be at least 2 million Baht, without work permit no 1 year extention, so you also won't get 1 year extentions through your business, unless you invest at least 2 million in it, wait one year and do 90 day runs during that year, affecting your independent lifestyle, until you have your first years financial statements to even qualify for a 1 yr extention and work permit. So maybe you think that's still less of a waste of money to start a 2 million business, but what if within the next 20 years you start to have some trouble with your business partner and want to move on, do something else? Then you're going to start a new business or marry, with the same problems over again, spending a few more million Baht in the process and worry about which rules have changed since last time to make it all waste more of your valuable time. What if you want to do plain nothing, no business, spend your time in Thailand wherever and with whomever you wish at any time, come and go wherever you please and not when some 90 days are over, and not waste time with any paperwork, accounting, banks, financial matters, lawyers, accountants whatsoever? Sure, there is no guarantee that this 5 year visa will be renewed under a new government, you still depend on the government, even that the 90 will be extended or that the spas and golf courses let you in for free, that there might be international pressure to discontinue it if less desired individuals abuse it to hide out in Thailand and damage it's image. But it's a chance somebody who just wants no hassles and who can afford to part with 1 million Baht for the sake of peace and freedom might just be willing to take. I would agree with what I read somewhere, the government would be likely to piss off a number of influential individuals by revoking the privileges that were paid for at the time the Elite member signed up. Should controversy and pressure arise, they might be more likely to stop accepting new members, restricting benefits, but honor past members privileges. Link to comment Share on other sites More sharing options...
Firefan Posted September 13, 2007 Share Posted September 13, 2007 Good post Goodgirl and I fully agree. While I am not a defender of the card seen from a gov. biz point of view (a disaster as we know) I do see it as an option from the person that have money but slip through the many visa holes. Many slip through the many holes these days, early retirees, people on early disability pensions, people w. biz abroad or ownership share, people living of own stock investments, people having an internet biz not connected to Thailand Etc. Not to mention the many being caught in the changes of visa rules who had visa previously; retirement, dependancy, marriage, biz requirement-changes Etc. If the government stopped the Elite card they would probably let the visa run as cost them little/nothing anyway. Cheers! Link to comment Share on other sites More sharing options...
canopus1969 Posted September 14, 2007 Share Posted September 14, 2007 There's also the small (?) matter of going along to immigration every 90 days and paying 1,900 Baht !! Uh ! ... Where did you get that information from ... a guy in the pub ? Naka. Why, you're not silly enough to think it's a free full 5 year visa do you .................. oh dear Link to comment Share on other sites More sharing options...
simon43 Posted September 14, 2007 Share Posted September 14, 2007 It's a pity that the Elite card 'visa' does not qualify one for the route to PR, (ie - you must have 3 years of visa extensions). That would make obtaining these 3 years so much easier for us under-50 year olds... But I also seem to remember that you cannot get a WP with an Elite card.... Simon Link to comment Share on other sites More sharing options...
torrenova Posted September 14, 2007 Share Posted September 14, 2007 And hardly anyone actually bought an Elite card anyway did they ? Link to comment Share on other sites More sharing options...
sriracha john Posted September 14, 2007 Share Posted September 14, 2007 I think they have actually confirmed nine cards sold. It's been a roaring success and well on their way to reaching Thaksin's goal of one million cards sold. Link to comment Share on other sites More sharing options...
torrenova Posted September 14, 2007 Share Posted September 14, 2007 If they reduced it to say Bt100,000 and gave only visa status then it would be a good buy and people would risk it. Then perhaps another 5 years for another Bt100,000 but counting towards permanent residency as well, say after 5 years. You'd have to allow WPs on the card with qualifications of course. Heck, at 100k I'd buy one. Wouldn't at Bt250k though. For 5 years I mean. Link to comment Share on other sites More sharing options...
gerry1011 Posted September 14, 2007 Share Posted September 14, 2007 It should be. Why do you think so? It's a chance for wealthy, younger people, far far away from reaching 50 years, who want a permanent option to stay in Thailand without depending on any other person such as Thai spouse or Thai business partners. Imagine you are under 30 years old with money, dont't want to marry and be dependent on the spouse (even that way, for the 1 year extention now needing to show regular "income" instead of a fixed sum could be a big headache, having to pay yourself a salary from your offshore company into your countries bank account and pay tax on it in the worst case), then how many marriages these days last 20 years or more? Imagine you don't want these kind of headaches plus suspicions from your spouse, should it be a real marriage, you might have married for the visa. Then you could spend the million on starting a business with a Thai partner, sure, be dependent on that partner and the 1 million investment for the company would not be enough to qualify the company to give a work permit to you because the registered capital needs to be at least 2 million Baht, without work permit no 1 year extention, so you also won't get 1 year extentions through your business, unless you invest at least 2 million in it, wait one year and do 90 day runs during that year, affecting your independent lifestyle, until you have your first years financial statements to even qualify for a 1 yr extention and work permit. So maybe you think that's still less of a waste of money to start a 2 million business, but what if within the next 20 years you start to have some trouble with your business partner and want to move on, do something else? Then you're going to start a new business or marry, with the same problems over again, spending a few more million Baht in the process and worry about which rules have changed since last time to make it all waste more of your valuable time. What if you want to do plain nothing, no business, spend your time in Thailand wherever and with whomever you wish at any time, come and go wherever you please and not when some 90 days are over, and not waste time with any paperwork, accounting, banks, financial matters, lawyers, accountants whatsoever? Sure, there is no guarantee that this 5 year visa will be renewed under a new government, you still depend on the government, even that the 90 will be extended or that the spas and golf courses let you in for free, that there might be international pressure to discontinue it if less desired individuals abuse it to hide out in Thailand and damage it's image. But it's a chance somebody who just wants no hassles and who can afford to part with 1 million Baht for the sake of peace and freedom might just be willing to take. I would agree with what I read somewhere, the government would be likely to piss off a number of influential individuals by revoking the privileges that were paid for at the time the Elite member signed up. Should controversy and pressure arise, they might be more likely to stop accepting new members, restricting benefits, but honor past members privileges. I enjoyed reading your post gOOdgirl It is indeed the perfect product for the younger (wealthy) "retirees" who don't like headaches. I do enjoy it and recommend it to my friends (not suitable for all of them though... ) Link to comment Share on other sites More sharing options...
retiredusn Posted September 15, 2007 Share Posted September 15, 2007 It should be. Why do you think so? It's a chance for wealthy, younger people, far far away from reaching 50 years, who want a permanent option to stay in Thailand without depending on any other person such as Thai spouse or Thai business partners. Imagine you are under 30 years old with money, dont't want to marry and be dependent on the spouse (even that way, for the 1 year extention now needing to show regular "income" instead of a fixed sum could be a big headache, having to pay yourself a salary from your offshore company into your countries bank account and pay tax on it in the worst case), then how many marriages these days last 20 years or more? Imagine you don't want these kind of headaches plus suspicions from your spouse, should it be a real marriage, you might have married for the visa. Then you could spend the million on starting a business with a Thai partner, sure, be dependent on that partner and the 1 million investment for the company would not be enough to qualify the company to give a work permit to you because the registered capital needs to be at least 2 million Baht, without work permit no 1 year extention, so you also won't get 1 year extentions through your business, unless you invest at least 2 million in it, wait one year and do 90 day runs during that year, affecting your independent lifestyle, until you have your first years financial statements to even qualify for a 1 yr extention and work permit. So maybe you think that's still less of a waste of money to start a 2 million business, but what if within the next 20 years you start to have some trouble with your business partner and want to move on, do something else? Then you're going to start a new business or marry, with the same problems over again, spending a few more million Baht in the process and worry about which rules have changed since last time to make it all waste more of your valuable time. What if you want to do plain nothing, no business, spend your time in Thailand wherever and with whomever you wish at any time, come and go wherever you please and not when some 90 days are over, and not waste time with any paperwork, accounting, banks, financial matters, lawyers, accountants whatsoever? Sure, there is no guarantee that this 5 year visa will be renewed under a new government, you still depend on the government, even that the 90 will be extended or that the spas and golf courses let you in for free, that there might be international pressure to discontinue it if less desired individuals abuse it to hide out in Thailand and damage it's image. But it's a chance somebody who just wants no hassles and who can afford to part with 1 million Baht for the sake of peace and freedom might just be willing to take. I would agree with what I read somewhere, the government would be likely to piss off a number of influential individuals by revoking the privileges that were paid for at the time the Elite member signed up. Should controversy and pressure arise, they might be more likely to stop accepting new members, restricting benefits, but honor past members privileges. There is no honor, just look at what they are doing with other visa's! one law takes out another law. Just be careful as once again there is no honor........... Link to comment Share on other sites More sharing options...
g00dgirl Posted September 15, 2007 Share Posted September 15, 2007 It's a pity that the Elite card 'visa' does not qualify one for the route to PR, (ie - you must have 3 years of visa extensions). That would make obtaining these 3 years so much easier for us under-50 year olds... But I also seem to remember that you cannot get a WP with an Elite card.... Simon You can get a Work Permit on an Elite Card visa if you like, because they advertise assistance to obtain your Work Permit as part of your benefits. Regarding PR, haven't the requirements for PR recently been changed anyway and you no longer need several years of extensions now? Link to comment Share on other sites More sharing options...
g00dgirl Posted September 15, 2007 Share Posted September 15, 2007 There's also the small (?) matter of going along to immigration every 90 days and paying 1,900 Baht !! Uh ! ... Where did you get that information from ... a guy in the pub ? Naka. Why, you're not silly enough to think it's a free full 5 year visa do you .................. oh dear Indeed a very small inconvenience compared to for example having to leave the country every 90 days. People who can risk 1 Million just like that (and yes they should see the risk of the benefits not being honored) don't really care about 1900 Baht every 90 days. The bigger inconvenience would be to spend an hour or more of your time to go to the office and pay it while you could do other more enjoyable things. Maybe it's possible to send somebody like your lawyer or so with your passport and the money, does anyone know? Link to comment Share on other sites More sharing options...
Firefan Posted September 15, 2007 Share Posted September 15, 2007 Not sure if a lawyer can do the extensions, but one can do it at the Thai Elite office sitting in the lounge sipping coffee. I.e. no need to be with the mere mortals standing in line at emmigration. Cheers! Link to comment Share on other sites More sharing options...
simon43 Posted September 15, 2007 Share Posted September 15, 2007 G00dgirl, Thailand Elite confirmed to me that a WP cannot be obtained with an Elite card. But they will help you to get an additional visa(!) - ie business or 'marriage' visa so that you can get a WP!! Also, visa extensions are still required to apply for PR. No changes there... Simon Link to comment Share on other sites More sharing options...
Abrak Posted September 15, 2007 Share Posted September 15, 2007 One reason not to get the elite card now is that the Thai Airways privileges have recently been withdrawn. These included a free gold card, 2 for 1 business and first class international flight tickets and 25% discounts on all domestic business flights. One reason to still hold the card is the free limo to and from the airport combined with vip fast tracking through the airport (this is really very impressive). I have held an elite card for the last 4 years and I believe I have just about had my Bt1m worth out of it even if it was stopped tomorrow - I dont use the 5yr visa as I am a PR. Link to comment Share on other sites More sharing options...
midas Posted September 15, 2007 Share Posted September 15, 2007 One reason not to get the elite card now is that the Thai Airways privileges have recently been withdrawn. These included a free gold card, 2 for 1 business and first class international flight tickets and 25% discounts on all domestic business flights. One reason to still hold the card is the free limo to and from the airport combined with vip fast tracking through the airport (this is really very impressive).I have held an elite card for the last 4 years and I believe I have just about had my Bt1m worth out of it even if it was stopped tomorrow - I dont use the 5yr visa as I am a PR. Erm.......... so what excatly do you now get after paying this not insigificant sum ? Link to comment Share on other sites More sharing options...
gerry1011 Posted September 15, 2007 Share Posted September 15, 2007 G00dgirl, Thailand Elite confirmed to me that a WP cannot be obtained with an Elite card. But they will help you to get an additional visa(!) - ie business or 'marriage' visa so that you can get a WP!!Also, visa extensions are still required to apply for PR. No changes there... Simon Why would a TE member want a WP? To "work" ??? Just joking Link to comment Share on other sites More sharing options...
sriracha john Posted September 15, 2007 Share Posted September 15, 2007 (edited) Not sure if a lawyer can do the extensions, but one can do it at the Thai Elite office sitting in the lounge sipping coffee. I.e. no need to be with the mere mortals standing in line at immigration. Cheers! and just to show how smooth a transaction it is....a recent Elite Card purchaser at Elite's Headquarters.... Edited September 15, 2007 by sriracha john Link to comment Share on other sites More sharing options...
gerry1011 Posted September 15, 2007 Share Posted September 15, 2007 Not sure if a lawyer can do the extensions, but one can do it at the Thai Elite office sitting in the lounge sipping coffee. I.e. no need to be with the mere mortals standing in line at emmigration. Cheers! and just to show smooth a transaction it is....a recent Elite Card purchaser getting his extension... You look quite nice on that picture Link to comment Share on other sites More sharing options...
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