Too Good To Be True? Thailandelite?

[pmoores]

http://www.thailandelite.com/index.php

Seems almost too good to be true, no need for border runs etc, lifetime membership etc. Sure its $30,000 ish for the initial payment.

Using this could one still get a work permit?

Anyone ever deal with them?

[The Coder]

Seems almost too good to be true, no need for border runs etc, lifetime membership etc. Sure its $30,000 ish for the initial payment.

Note in the last year they added a 40,000 baht annual fee. The other risk is the Elite program may die before you do. One problem is they have drastically been missing their forecasts (it appears they will be well below 1% of forecast) and they are after all a company. The other problem is if the political winds blow a different direction, there is no guarantee privileges will remain valid. Remember one of the original promises of the card was land ownership, but they had pullback in that area due to political backlash.

[george]

Search the forum for Thailand Elite Card

[Orion76]

I'm a member and very happy so far.

They now have well over 1000 members so financially they have already collected over $25,000,000 with $1,000,000 a year in recurring membership fees and growing fast so it's unlikely they'll disapear due to financial problems.

AFAIK you can not get a work permit on a Thailand Elite visa, nor would it be worth the money if you are planning to get a work permit.

[Maestro]

I'm a member and very happy so far.

It’s good to hear it from an actual member.

If I understand correctly, originally the Thai Elite Card was advertised on the basis that the 1 Mio. Baht entrance fee would be everything an applicant had to pay and this would take care of his membership for the rest of his life, but that later an annual fee of 40K Baht was added. Did the existing card holders at that time have any say in this decision? Can this annual fee be increased in the future, on whose decision?

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Maestro

[Thaiquila]

I'm a member and very happy so far.

It’s good to hear it from an actual member.

If I understand correctly, originally the Thai Elite Card was advertised on the basis that the 1 Mio. Baht entrance fee would be everything an applicant had to pay and this would take care of his membership for the rest of his life, but that later an annual fee of 40K Baht was added. Did the existing card holders at that time have any say in this decision? Can this annual fee be increased in the future, on whose decision?

------------------

Maestro

If you have to ask that question, you aren't elite enough for the market they are now targeting.

(Of course they can raise the fees!)

[Firefan]

I believe one can transfer/sell the membership also - so the money can not really be considered lost I guess?

Also; Orion; Maestro had a good question I think - do you know or can you check the answer? I wonder whether it was only the NEW batch of cards that have that 40.000 Baht per year fee attached? (and that makes me wonder whether one could buy one of the OLD memberships and avoid it...?).

Cheers!

[backflip]

You can transfer the card at 10% of the current card cost.

[sierra01]

I believe one can transfer/sell the membership also - so the money can not really be considered lost I guess?

Even if you can sell your membership, could you find anyone actually willing to buy it?

[markuk]

I think its great the guys at immigration always send me to the Thailand elite q with my wife and kid instead of waiting in line - i would never join way too much to spend for so little benefit!!

[Firefan]

Markuk; to be fair there are several more benefits - main one being the "eternal" tourist visa with no visaruns - something people put 3 Mill Baht in the bank here in order to obtain. If they get say 1% interest here and could have obtained 5-6% (GBP/AUD offshore or even onshore) that is quite a big oppurtunity cost.

If the transfer fees are 10% should I want to sell - I still get 900.000 Back - should anybody want to buy.... I might have to sell at 800.000 or a bit less - easy sell if one of the OLD cards and one does NOT have to pay the 40k/year. Nobody have answered that question yet.

If difference is 5% on the 2M I can then keep offshore then I earn 100k there EVERY year(maybe paying the 40k out of that) - so selling at 800k would have earned me back the loss of selling at 800k in 2-3 years or so. I keep card 5-10 years and sell (should I want to leave) and it for sure compares well to the investment visa with 3M in the bank. This is before looking at all the benefits/visaruns saved/discounts/free transfers/free golf/no need to go to emmigration Etc.

Considering how the first batch of cards were given away to high profile people I doubt that they will start sending them a bill... But maybe when/if they transfer/sell the 40k will anyway kick in for new owner.

Anyway; it has become a hobby here to shoot down this card, but for someone not planning to work or marry here, but wanting to stay long-term, it is an expensive(for some) but alternative way to go. As the above nos suggests, it might not add up to too bad a choice for SOME people.

Cheers!

Edited January 17, 2006 by Firefan

[lopburi3]

From the website:

Member benefits are subject to regular review and change without notice

[chiangrai57020]

"The other problem is if the political winds blow a different direction, there is no guarantee privileges will remain valid. Remember one of the original promises of the card was land ownership, but they had pullback in that area due to political backlash."

The 'elite card' was set up by 'elite politicians' for the express purpose of 'druming' up business for Thailand - or themselves! This 'elite card' scheme will last as long as people are willing to part with their 'cash'. As soon as the 'elite's' that set up this 'scheme' fill 'their' pockets with your money, there no longer will be a need for the 'elite card'.

[Thaiquila]

The other thing to consider is the Elite card was Thaksin's idea.

Thaksin will not be in power forever, and the future of Thai Rak Thai without him is in question.

A new party in power may feel no obligation to save the face of a program associated with a charismatic leader and party no longer in power.

Edited January 17, 2006 by Thaiquila

[sriracha john]

I see it's time for the semi-annual Elite Card rehashing.

Funny how this long-dead horse keeps kicking after it's been bashed over the head so much.

There's 1,000 members now? WHEEEE!!... only 999,000 more cards to sell to make the PM's goal.

Are they really in such a good financial state with their paltry 25 million (not even taking into account the hundred or so given away as promos to celebs)???

That's less then their advertising and promotion expenses.

It's longevity will last as long as Thaksin's last day in office... which is... soon (even if he lasts the full term).

Edited January 17, 2006 by sriracha john

[Maestro]

…last as long as Thaksin's last day in office... which is... soon (even if he lasts the full term).

I was wondering about that and was informed that in Thailand there is no limit to the number of times a Prime Minister may stand for re-election, more’s the pity.

I am not taking any bets on the next election, though.

------------------

Maestro

“Chaque nation a le gouvernement qu'elle mérite” – Joseph de Maistre

[Cassandra]

Markuk; to be fair there are several more benefits - main one being the "eternal" tourist visa with no visaruns - something people put 3 Mill Baht in the bank here in order to obtain. If they get say 1% interest here and could have obtained 5-6% (GBP/AUD offshore or even onshore) that is quite a big oppurtunity cost.

If the transfer fees are 10% should I want to sell - I still get 900.000 Back - should anybody want to buy.... I might have to sell at 800.000 or a bit less - easy sell if one of the OLD cards and one does NOT have to pay the 40k/year. Nobody have answered that question yet.

If difference is 5% on the 2M I can then keep offshore then I earn 100k there EVERY year(maybe paying the 40k out of that) - so selling at 800k would have earned me back the loss of selling at 800k in 2-3 years or so. I keep card 5-10 years and sell (should I want to leave) and it for sure compares well to the investment visa with 3M in the bank. This is before looking at all the benefits/visaruns saved/discounts/free transfers/free golf/no need to go to emmigration Etc.

Considering how the first batch of cards were given away to high profile people I doubt that they will start sending them a bill... But maybe when/if they transfer/sell the 40k will anyway kick in for new owner.

Anyway; it has become a hobby here to shoot down this card, but for someone not planning to work or marry here, but wanting to stay long-term, it is an expensive(for some) but alternative way to go. As the above nos suggests, it might not add up to too bad a choice for SOME people.

Cheers!

I am sure you are right that the Elite Card,though not for everyone, makes sense in certain circumstances.A good friend of mine has it and is very pleased with the service.The card does get rather a bad press on this forum,some of it deserved because the initial Elite management was incompetent.However there is another undercurrent which is the discomfort some (mainly the visa running contingent) feel at others easily finding the financial wherewithal to acquire the card.I personally couldn't afford it but I cerainly don't begrudge our wealthier colleagues ability to fast track their lifestyles in Thailand.Good luck to them.In most cases they have earned their lifestyle through energy and hard work, not loafing around Pattaya beerbars.

[sriracha john]

I am sure you are right that the Elite Card,though not for everyone, makes sense in certain circumstances.A good friend of mine has it and is very pleased with the service.The card does get rather a bad press on this forum,some of it deserved because the initial Elite management was incompetent.However there is another undercurrent which is the discomfort some (mainly the visa running contingent) feel at others easily finding the financial wherewithal to acquire the card.I personally couldn't afford it but I cerainly don't begrudge our wealthier colleagues ability to fast track their lifestyles in Thailand.Good luck to them.In most cases they have earned their lifestyle through energy and hard work, not loafing around Pattaya beerbars.

As mentioned on earlier Elite card threads, if someone has the resources to squander a million baht away on this, they should easily afford a million baht donation to their choice in Thailand's Home For The Aged or a reputable orphanage. They'll be expecting your certified check right after the one you write to Thai Elite.

[Cassandra]

I am sure you are right that the Elite Card,though not for everyone, makes sense in certain circumstances.A good friend of mine has it and is very pleased with the service.The card does get rather a bad press on this forum,some of it deserved because the initial Elite management was incompetent.However there is another undercurrent which is the discomfort some (mainly the visa running contingent) feel at others easily finding the financial wherewithal to acquire the card.I personally couldn't afford it but I cerainly don't begrudge our wealthier colleagues ability to fast track their lifestyles in Thailand.Good luck to them.In most cases they have earned their lifestyle through energy and hard work, not loafing around Pattaya beerbars.

As mentioned on earlier Elite card threads, if someone has the resources to squander a million baht away on this, they should easily afford a million baht donation to their choice in Thailand's Home For The Aged or a reputable orphanage. They'll be expecting your certified check right after the one you write to Thai Elite.

Quod erat demonstrandum.You have proved my point brilliantly.Thanks.

[Heng]

Spot on. I'd wager that most of these "critiques" would be elite card members themselves if the membership were say... 100 Baht. Until then, that Sizzler membership card will have to do.

[kenkannif]

^ Yeah Heng if it was a 100 Baht it would be okay. But with the money you have to spend on it....you could actually use said cash (probably less) to sort yourself out in the way the Elite card does....but for far less.

Edited January 18, 2006 by kenkannif

[sriracha john]

I am sure you are right that the Elite Card,though not for everyone, makes sense in certain circumstances.A good friend of mine has it and is very pleased with the service.The card does get rather a bad press on this forum,some of it deserved because the initial Elite management was incompetent.However there is another undercurrent which is the discomfort some (mainly the visa running contingent) feel at others easily finding the financial wherewithal to acquire the card.I personally couldn't afford it but I cerainly don't begrudge our wealthier colleagues ability to fast track their lifestyles in Thailand.Good luck to them.In most cases they have earned their lifestyle through energy and hard work, not loafing around Pattaya beerbars.

As mentioned on earlier Elite card threads, if someone has the resources to squander a million baht away on this, they should easily afford a million baht donation to their choice in Thailand's Home For The Aged or a reputable orphanage. They'll be expecting your certified check right after the one you write to Thai Elite.

Quod erat demonstrandum.You have proved my point brilliantly.Thanks.

You're very welcome. Your kind, generous compassionate donation will be greatly appreciated by those in need.

You're a saint for helping them out.

As a sidenote, they got Heng's donation as well, but as it was only a lump of coal, the wheelchair purchase will have to be put on hold.

Perhaps they can use it to heat some ma-ma noodles over at the orphanage.

[Heng]

I think salt and rice will due, surely. Ma-ma noodles are an overrated luxury for those who aren't ready for it.

And who says those who can afford the card don't donate? IMO it's just wishful thinking on the part of whingers in hope that such donations will help narrow the gap between said whingers and "those who should be donating." I toss handfuls of coins and cookies to the common masses all the time from my speeding coach, and frankly it doesn't slow us down one bit.

[sriracha john]

I'm sure the groveling masses of peasants thank you profusely for the satang coins you dispose of in their direction.

Your heart knows no bounds.

[markuk]

Markuk; to be fair there are several more benefits - main one being the "eternal" tourist visa with no visaruns - something people put 3 Mill Baht in the bank here in order to obtain. If they get say 1% interest here and could have obtained 5-6% (GBP/AUD offshore or even onshore) that is quite a big oppurtunity cost.

If the transfer fees are 10% should I want to sell - I still get 900.000 Back - should anybody want to buy.... I might have to sell at 800.000 or a bit less - easy sell if one of the OLD cards and one does NOT have to pay the 40k/year. Nobody have answered that question yet.

If difference is 5% on the 2M I can then keep offshore then I earn 100k there EVERY year(maybe paying the 40k out of that) - so selling at 800k would have earned me back the loss of selling at 800k in 2-3 years or so. I keep card 5-10 years and sell (should I want to leave) and it for sure compares well to the investment visa with 3M in the bank. This is before looking at all the benefits/visaruns saved/discounts/free transfers/free golf/no need to go to emmigration Etc.

Considering how the first batch of cards were given away to high profile people I doubt that they will start sending them a bill... But maybe when/if they transfer/sell the 40k will anyway kick in for new owner.

Anyway; it has become a hobby here to shoot down this card, but for someone not planning to work or marry here, but wanting to stay long-term, it is an expensive(for some) but alternative way to go. As the above nos suggests, it might not add up to too bad a choice for SOME people.

Cheers!

I agree it probably has some benefits for some people - however i work here so dont need it!!

[Orion76]

I'm a member and very happy so far.

It’s good to hear it from an actual member.

If I understand correctly, originally the Thai Elite Card was advertised on the basis that the 1 Mio. Baht entrance fee would be everything an applicant had to pay and this would take care of his membership for the rest of his life, but that later an annual fee of 40K Baht was added. Did the existing card holders at that time have any say in this decision? Can this annual fee be increased in the future, on whose decision?

------------------

Maestro

Members who purchased the card prior to the 40,000bht/year fee (that includes me) was introduced do not have to to pay the anual fee. They remain a member for life without any further costs so the early risk takers like me got rewarded

The 40,000 baht a year fee is a good thing though and if I had to pay it I wouldn't mind too much, I'd rather see the company have cash flow that will sustain them than see them go bankrupt and render my card useless.

There are some new benefits like health insurance and if I would like to take advantage of this then I would have to become a member who pays yearly.

Edited January 18, 2006 by Orion76

[Orion76]

Anyway; it has become a hobby here to shoot down this card, but for someone not planning to work or marry here, but wanting to stay long-term, it is an expensive(for some) but alternative way to go. As the above nos suggests, it might not add up to too bad a choice for SOME people.

Exactly.

If you are used to flying first class and staying in 5 star hotels then you'll earn the 1 million baht back in only a few years in money saved on doing visa runs. I'm pretty much break even already in money, not to mention the time saved on traveling for no other reason that a stamp in my passport has expired.

About the other option of putting 3 million baht in a Thai bank....

Would have sucked for someone who did that in 1996 wouldn't it

[Firefan]

Orion; if you sell/transfer the card will the new owner have to pay the 40k/year or can he/she chose if want to or not? (I.e. whether want the added services of the "new" card such as health insurance).

Btw; just checked the homepage and saw nothing about health insurance - only a free annual health checkup.

Cheers!

Edited January 18, 2006 by Firefan

[Orion76]

Actually it's accident insurance: http://www.thailandelite.com/privileges_assurance.php

I am not sure if I'd transfer my card the new owner would have to pay the anual fee. If he wouldn't then I guess I could sell my card for more than a million baht although I certainly don't see myself wanting to sell it any time soon

I am sure you are right that the Elite Card,though not for everyone, makes sense in certain circumstances.A good friend of mine has it and is very pleased with the service.The card does get rather a bad press on this forum,some of it deserved because the initial Elite management was incompetent.However there is another undercurrent which is the discomfort some (mainly the visa running contingent) feel at others easily finding the financial wherewithal to acquire the card.I personally couldn't afford it but I cerainly don't begrudge our wealthier colleagues ability to fast track their lifestyles in Thailand.Good luck to them.In most cases they have earned their lifestyle through energy and hard work, not loafing around Pattaya beerbars.

I think you hit the nail on the head with this post. If the card were a lot cheaper there would be a lot less people people bashing the card

[sriracha john]

I think you hit the nail on the head with this post. If the card were a lot cheaper there would be a lot less people people bashing the card

As with any product that is sold, people evaluate whether the product is a good buy or not. For any number of reasons (price is only one of them), the Elite card is, by practically any measure, a dismal failure. People have never flocked to it, even people that have never even heard of this forum. Why?

A bigger impact on sales would likely come from actually fulfilling the "pseudo-promised" land ownership, rather than lowering the cost of the card.

If the management were able to fix some of it's many shortcomings, they'd likely raise their sales figure to something closer to their stated goal. Currently, it's at a laughable 0.1%.

ANY product with similar figures would likely get bashed.