Cabinet to vote today on Bt1m cards for rich foreigners

The Cabinet will today consider a proposal from the Tourism and Sports Ministry to offer Thailand Privilege Cards to affluent foreigners at Bt1 million apiece, a Government House source said yesterday.

The ministry expects the scheme to earn at least Bt1 trillion over the next five years and entice as many as 1 million card members.

"The target group is high-end customers such as investors, businessmen, world celebrities and rich long-stay tourists," the source said.

The cards will offer lifetime membership, special services, free transfers between airports and hotels, free check-ups at reputed hospitals, discounts on Thai International Airways, special rates at a number of hotels, golf courses, spas and restaurants, as well as business incentives.

"Members will get extra benefits when investing in real estate development," the source said.

The scheme is expected to greatly increase the number of high-end tourists to Thailand and help make it the tourism capital of Asia.

"The huge income from card sales will be used to enhance tourism services and facilities in the country. Part of the re-venue will be earmarked for long-term operating costs," the source said.

The Tourism and Sports Ministry wants the Cabinet to approve the setting up of the Thailand Privilege Card Com-pany Limited, fully owned by the Tourism Authority of Thailand, to operate the project.

The company would be profit-oriented and the profits used to develop tourism products and services, the source said.

The ministry has also asked for Bt350 million as initial funding for the project, which would go towards establishing a comprehensive call centre, marketing and advertising expenses and administration costs, the source said.

Source: The Nation

To appeal to me the benefits of membership would need to be a lot more specific.

Also Dr. Pong, we would need to find out more criteria that is involved with such card and its interest rates!  A card is a card, but this particular card might impose bank account verifications etc., and it would be interesting to find out just what else the chipmunks have in mind.  We got banged on one end, and now this might be another bang!  :blues:

I think that the authorities should have been more specific as to what benefits they are offering to attract the world celebrities, rich farangs, etc. Discounts on golf and Thai Airways are nice, but come on, one million baht. I don't see the rush for these cards right now that the politicians envision. And I don't think world celebrities are going to change their lifestyles and destinations because they have one of these cards.

:cool:

No way Jose!

Super stupid idea.

Why don't they do something useful like set up people to make organic farms/ gardens with composting rather than burning and spraying toxic chemicals all over the place?

Clean up the big plastic and toxic waste all over the country and oceans.

This leader "doesn't have a clue" what it will take to insure a really long term successful country.

Outlawing the plastic bag would be a good start!

Unfortunately the  average person still does not know the difference between a plastic bag and a banana leaf , like most of Asia.

Next they should out law chemical agriculture, this would be the next important thing.

Everyone needs to get really conscious or we are going to loose it here, got it?

Well lets put it this way.  They know that the rates have risen, and their grandiose ways of being the chipmunks as they are at times, do go overboard and they squawk like a hen, and the real deal is they darn know well that they are slowly killing the golden goose egg, so they say to the rich, hey we not bad, we need money come on in, spend it for us, we take care of you look at benefits, tsk tsk, and then they say hey farang we not want you now, thanks, so butt out and adios come back next time and so on and so forth.  All the while when out of ear shot, they speak the unmentionable and the talk is heavy about racisim and they think we are stupid idiots.   Hmmmm, ta da, ta da, the day is coming when the 6th Seal opens for them, and one is yet to come.  Bang!  Then the hens and the chipmunks will gather and cry over their own stupidity while we farangs will laugh at them at the end.   My assessment!!!    ::    :laugh:  :blues:

Amazing, how can they assume to earn such a huge amount from rich foreigners?

Even if the residence visa would come along with the card, you got to be quite a restless person to gain your money back.

Do they really believe that farang my rue rueang ?

Why shall members investing in real estate get extra benfits?

That is the right target, the concrete jungle is growing.

Where is the extra benefit for people doing natural farming?

Hmm, let me see...should I sign up for the Amex platinum card which offers similar perks around the world, or maybe pay 1 million Baht for the Thai Priviledge Card???  This is really difficult.

Thailand have tried the similar before, and you know what happened, shit down the drain...

They dont even remember their own stupidity

Bangkok Post Feb 19, 1997 - Residence visas to tempt investors At least B50 billion expected to pour in  

Summary

Full  Abstract: Residence visas to tempt investors. Bangkok Post Feb 19, 1997 - Residence visas to tempt investors At least B50 billion expected to pour inFebruary 19, 1997. ECONOMY. At least B50 billion expected to pour in Temsak Traisophon Faced with a sluggish economy, the government has come up with a new way to make quick money: promising a quick residence visa for any foreigner ready to invest at least 10 million baht in Thailand. It hopes to cash in on some 5,000 foreigners waiting to apply for r

http://search.bangkokpost.co.th/bkkpost....02.html

size 5516 bytes - 2/19/97 3:01:24 AM GMT

7.  Bangkok Post Oct 9, 1998 - Price of residency slashed to attract foreign investors  

Summary

Full  Abstract: Price of residency slashed to attract foreign investors. October 9, 1998. The government hopes to attract more foreign investment by slashing the amount of money needed for gaining long-term residency. The Immigration Bureau said foreigners who invested three million baht in the country would be eligible for a one-year renewable resident visa. Previously the minimum requirement had been 10 million baht. The money must be invested in areas seen as beneficial to the economy, such as deposits in a

http://search.bangkokpost.co.th/bkkpost....03.html

Bangkok Post Jun 18, 1998 - Scheme to woo rich foreigners falls short  

Summary

Full  Abstract: Scheme to woo rich foreigners falls short. June 18, 1998. INVESTMENT. Only 114 apply to be permanent residents. A scheme to attract wealthy foreigners by offering them permanent residency in return for foreign exchange injections is falling short of its target of 5,000 immigrants, with only 114 applications received in its first year. The secretary of the House finance and banking committee, Surapong Tovijakchaikul (Dem, Chiang Mai) said 106 of the applications had been approved. He

http://search.bangkokpost.co.th/bkkpost....12.html

Well lets put it this way.  They know that the rates have risen, and their grandiose ways of being the chipmunks as they are at times, do go overboard and they squawk like a hen, and the real deal is they darn know well that they are slowly killing the golden goose egg

In that one sentence from our resident brainy guy we meet chipmunks, hens, and geese.

Are you serious, Dave, or are you hanging out for one of these cards to open a zoo?

So now we have to pay 1 million baht to avoud the racially biassed system of dual pricing, and perhaps be allowed what we allow thai in our coutry, like owing a house on a pice of land? Is the card also a bribe and commission waiver ?

These guys liove in a dream world, no way!!!!!!

Tjep

Farangs probably won't buy it but I imagine that Malays, Chinese and Japanese wouldn't think of stepping on Thai soil witout a card saying they're a VIP if they can afford it.

Excuse me while I go and be sick, one hand is taking. the other trying stupid measures, to give something back ???

I cant begin to express my sincere thanks to the Thai govenment, this gesture is beyond congratulation

Like other comments they dont even mention a residency or any kind of visa, must be such a think tank going on up in BKK :laugh:

The decisive question would be: what would I get for the 1 M card?

What would look interesting:

- residency

- easier rules for bringing in household goods (more than one PC, fax, TV, ect.)

- ownership of land or right for longer leases for instance 99 years (maybe that what is meant with the preferential treatment when building)

With most of the mentioned advantages I cannot imagine anything. Reduced prices on flights are widely available, reduced hotel prices also. Tranfers from airport to town are not expensive. You would never get the money of the card back getting them free.

1 M THB is € 20.000; you don't have to be a celebrity to be able to afford it, but you will probably want something in return. Even the celebs might.

Property ownership for foreigners is not too attractive at the moment nor is it for the Thai government. What's wrong:

- estate agents have no exclusivity on the properties they sell. So you cannot have one who looks to get a good deal for you.

- Prices are only day-prices and are not binding. If you see a property you like you might hear that the price just went up by 2M bath.

- Contracts for properties which still have to be constructed are only 2 to 4 pages which leaves it vague what you would get. In a lot of other countries it would be 50 to 100 pages with exact descriptions of everything.

- For condo's the ownership of the land is not always clear. Procedures for getting the contributions from the owners do often not work. Maintenance is often less then desirable. Individual owners cannot do much about it.

- The exclusion of land ownership makes it unattractive for foreigners to own a house. Ownership though a company is a hassle. 30 year leases are really to short for a house or a human life. The nominee construction will give a hassle when the nominee dies.

If the Thai governement followed a system of taxing property like in France it would get a lot more money. Everybody can own property and land but property taxes are rather high with a distinction between persons who pay also income tax on their world income and other persons. If you don't pay income tax you also have to pay capital gains tax and inheritance tax on the property (If you pay income tax you are exempt for the first property you own). A beachfront house in the south might easily cost $ 10.000 per year in property tax (that's half the card price per year). A anti-speculation tax might be added (it does not exist in France but some countries have it). An extra tax could be levied if you buy land only with the motive of letting it rise in value. So if after buying it for two years nothing happens on it you will getting an extra bill from the tax man.

I have been recently in Thailand, looked at quite a few properties, spoke to several estate agents and long time residents who own houses through a company and found it all not to convincing. Some of the properties were however very beautiful.

The weather was rather hot for my complexion. If temperatures rise this century another 6 degrees centigrade  as somebody predicts in today's paper it might get a bit too hot.

VALUE ADDED TAX

Does a 1 million baht card count towards a long-stay visa?

Has anyone ever proposed a point system of credits towards a long-stay visa other than money?

Examples:

1. Passing an exam in Thai Language and Culture.

2. Doing registered voluntary work or community service in Thailand.

On this latter point, I have retired early and am applying for a Non-Immigrant O-A visa.  My application is supported by pension and bank deposit, together with the other necessary papers such as medical etc.

If the 1 million baht card is supposed to attract high-end users, what about the people who come here because they like the country and the people and who are not wealthy retirees but are willing to pass on their knowledge and skills to Thais.  Shouldn't that count for something?

Once I have my Retirement Visa I am not supposed to work, but assume that doesn't preclude voluntary work.  I certainly have computer training skills which I can combine with my native English language and am prepared to pass my knowledge on to students.

This board has reported that the financial requirements for a Retirement Visa may be increased.  What if part of that cost could be offset by a demonstration of cultural and social commitment in the form of unpaid voluntary work?

Steve

It's not a bad idea and I would buy it if it meant I could have "carte blanche" for a number of things in Thailand (unlimited bar fine ?   )

I think this is a dream come true for all drug dealers on the planet. Buy your "legal" residency for only a million bath.

mrentoul,  hmmmm, I am using other words to say my expressions without censorship, so it will have to be up to someones imagination.  Actually without knowing the more explicit details of the card, hard to make a comment.  Like I said its the chipmunks who are promoting it , and the hens within the chipmunks area still squawking  because they have not released the needed details regarding information as of yet.  So with rates rising like the sun does in the sky, I guess there is no end in sight.  So gang keep looking higher and higher.   More to go yet.  I would think next the interest rates will be astronomical!      :cool:   :blues:

Lame idea.  "One trillion baht, one million users", who are they kidding?  Typical Thai idea of make a fast buck without putting much thought or effort into the idea.  But it won't work.  Try some market research first, try listening to the foreigners that are already here.  Some good ideas in these replies already; such as try cleaning up the country, better internet connections, organic farming, noise control, easier visas, easier land ownership, etc., the list is endless if they want to attract more retired/semi-retired people to spend their money here.  

This administration never ceases to amaze me with their approach to issues and problems.  Again, it shows their love-hate relationship with farang.  "We want them here, but we don't want them here.  In truth, we simply want their money more than anything else they have to offer, so let's go for that."

Amateurs.

 "In truth, we simply want their money more than anything else they have to offer, so let's go for that."

I agree. I'll be retiring in approx 5 years. The more I learn, the more I am inclined to look south of the border.

I already have an American Express Platinum card which offers benefits. I would think that most people that would be willing to toss away $23,000 would have this card also.

What exactly would one get for this fee? My guess is that unless the discounts/freebies are substantial, the fee couldn't be recouped in one's lifetime.

But it's typical of the Thai government.

Don't you know?

Farangs are rich and stupid..

This administration never ceases to amaze me with their approach to issues and problems.  Again, it shows their love-hate relationship with farang.  "We want them here, but we don't want them here.  In truth, we simply want their money more than anything else they have to offer, so let's go for that."

All  I can add is we, or most of us already put our life saving and more, why are they treating us so badly?

Amateurs.

I must admit, I thought Taksin would have better idea than thus. I thought his govenment would be more forth thinking, as the quote say. want us or not, I think not ???

Better we just go home in a way

This new "scheme" is exactly what everyone is saying here..just another usless attempt to get $$$ from the Frang population. I hope everyone has read "Culturs shock Thailand". I believe I understand Pthat Thai as well as any Frang. I have been traveling to Thailand since 1982 for business and plan to "retire" to Chaing Mai ASAP. We must remenber that Thailand has many faces. The ability to read all of them is vital to having a "good life" in Thailand. Yes my nick name is what everyone in Thailand calls me since my first visit in early 1982...just in case you can't translate it means Dragon spelled Mo mar, Noong Noog, Go Gai, Raw Ruha

My experience of rich people is that they are very careful about how they spend it. Only an idiot would go for this half baked idea. If you are rich you aren't going to be concerned with saving a few baht on a Thai flight by spending a million baht, are you? And what guarentees are there that you will be actually saving money? Its just another scam to rip off the stupid farangs.

Tizme

I agree. I'll be retiring in approx 5 years. The more I learn, the more I am inclined to look south of the border.

Did you know that the first province south of the border does have or is striving to introduce sharia law?

Better get two of these cards.

Ha! Couldn't agree more with whats been said so far...whats amazing to me is that 7 members say they'd buy one! can we hear from one of you to tell us why? is it the free check up at a "reputed" hospital? reputed for what? a "special rate" at a hotel which will turn out to be more expensive than what you could find online yourself? what "business incentives"?????

i guess they are hoping to attract the same japanese tourists who buy the machine that turns one dollar bills into hundred dollar bills.  

perhaps its a scheme for a few ministers to get relatives, mia nois, etc on the payroll. 350 million baht "initial funding". hopefully someone in the cabinet has a little sense and will come up with a better way to throw around 350 million baht.

I've got to agree with everybody here. This idea seems completley ridiculous. If I really give Thaksin Ltd. the benefit of the doubt, i might conclude that there really are great things being offered, but they have no idea how to market them. Discounts at hotels? Discounts on flights? What kind of discounts? Oh, forget it I don't care, i've got to get myself one of these cards. What is Thaksin Ltd. thinking?

The only way anyone will spend a million baht on a VIP card is if the the rewards are substantial and also spelled out in balck and white. Substantial meaning throwing in something like automatic non-immigrant visa or even residency. Black and white as in 'the cheapest rate available for a suite at phuket yacht club, even if you book via the interent during low season is $400 a night. With this card, your rate is $100 a night.'

I agree with one of the last posts. Clean up all the rubbish on the beaches and plastic floating in the oceans. More farang will come.

Did you know that the first province south of the border does have or is striving to introduce sharia law?

No problem for me. I'm a law abiding citizen.   :laugh:

Hmm - no mention of bar-girl discounts as a perk of having this card  

Golf?...free entrance to spas?   Need to play a lot of golf to justify this card.

(The bit about BGs is a joke honest! I'm happy with my GF!!)