Who's this elite card for?

[theguyfromanotherforum]

I see a lot "farang" on a high horse here who are apologists for this so-called Elite card.

I think whichever way you look at this it is an extremely bad deal as even with this Elite card you have to go through the same hoops such as 90 day reporting, 1900 fee and exit the country once a year. You can be teaching English and come on top in 5 years by 1.5 million baht (minimum) or you could be in a hole for 500k baht.

But let's look at these so-called hi-so Thaivisa members here who "recommend" this "Elite" card to the average Joe because they are oh-so rich and can afford it (and like to shove this fact down the throat of a lot of newbies)

The simple math is if you can afford to drop 500k on Elite card you can certainly afford to invest 10 million baht for as long as necessary in one of many extremely safe Thai banks (I am not being sarcastic) and earn yourself an annual interest of 2.75%. That's a net profit of 275,000 baht a year or 1,375,000 million in 5 years. Heck, after 2 years you can pull your money out and buy yourself an elite card with the profits if you really, really want to.

My guess is that people who are recommending this Elite card are just a bunch of bitter individuals who like to lecture other people on the internet and they themselves don't have 10 million baht to invest and live a hassle free life in Thailand.

I can't wait to read hi-so Farang excuses for Elite card. It's just too funny. I am ready.

[Gsxrnz]

2.75% p.a interest on an investment could hardly be called a profit. Do your maths assuming a mere 3% p.a inflation rate and see how profitable your assumed investment would be.

[DrTuner]

10M is over 300k US$. 500k is just around 15k US$. Most can scrape together 15k on short notice, but to commit 300k for a longer period you need actual loose money in the account. The difference is still quite large.

Edited July 30, 2014 by DrTuner

[theguyfromanotherforum]

2.75% p.a interest on an investment could hardly be called a profit. Do your maths assuming a mere 3% p.a inflation rate and see how profitable your assumed investment would be.

It is still much better than a 500k loss.

I will need better replies than this.

[theguyfromanotherforum]

10M is over 300k US$. 500k is just around 15k US$. Most can scrape together 15k on short notice, but to commit 300k for a longer period you need actual loose money in the account. The difference is still quite large.

But.... the Elite card is made for "Elite" members. 300k to a 1%-er (about 50% of Thai visa members) is nothing.

The card is aimed at high grossing individuals. These individuals didn't make money by losing 100k baht a year in non-investment opportunities.

[Briggsy]

Here's a better reply.

If the baht devalues by 50% then your 10 million Baht investment in Thailand may look a lot, lot worse than the 500,000 Baht Junior Elite.

Back-to-back tourist visas are doable now but the writing seems to be on the wall, particularly if you hail from a country immigration officers consider undesirable or suspicious.

ED Visa may easily cost you 5 x 50,000 Baht over 5 years = 250,000 Baht + a lot of hassle attending classes you don't want to attend, border runs, etc.

You're wrong about border runs with Junior Elite. They are not necessary.

You forgot to include the free airport transfers.

Getting married or having kids to obtain permission to stay in Thailand seems a bit extreme to me and fraught with dangers.

Getting a job in Thailand will be inappropriate for many.

Setting up a company that does nothing except provide you with a Work Permit and Yearly Extension = 100,000 x 5 = 500,000 + a lot of headaches.

However I agree with you, it is expensive, but it is a solution that works for some.

[Costas2008]

OP, I'm not going to debate with you, if the Elite card is good or not.

But, I was very surprized with your assumption, that if somebody can spend 500k for the card he could easily afford to invest 10million.

Seems to me that you have no idea not only what 500k is but much more what 10million is.

I presume 1,000 Baht for you is big money and you are jealous of the people that can afford to spend 500k.

So you decided to open this thread to show your feelings and contempt for the others.

Please, grow up.

[theguyfromanotherforum]

I am not sure about baht tanking. It is more likely that the western currency will collapse which would make an investment in a Thai bank even more attractive. Since the military rule (and to some extent Euro and Pound), my Canadian dollar went down the toilet. Where will baht be when there are elections in one year?

Look, this Elite card is aimed at well-off people who want to stay here a bit longer. These well off people would have no problems scraping partly 10 mil for an investment visa. It is clearly the best hassle free visa to get..... and putting it in a bank account is just the simplest example I gave.

[theguyfromanotherforum]

OP, I'm not going to debate with you, if the Elite card is good or not.

But, I was very surprized with your assumption, that if somebody can spend 500k for the card he could easily afford to invest 10million.

Seems to me that you have no idea not only what 500k is but much more what 10million is.

I presume 1,000 Baht for you is big money and you are jealous of the people that can afford to spend 500k.

So you decided to open this thread to show your feelings and contempt for the others.

Please, grow up.

Sorry, but giving such a condescending reply such as presuming that 1000 baht is a lot to me means that it is you who needs to grow up. This is exactly the Thaivisa poster I am talking about. You do not know me and I do not know you....and I don't really want to know you. I will never know how much money you have and it same goes for you about me.

But I don't think you are very intelligent paying 500k for a visa.

That's all.

[DrTuner]

The card is aimed at high grossing individuals. These individuals didn't make money by losing 100k baht a year in non-investment opportunities.

That may be what they're aiming for, but the practical target group is under 50's, unmarried and not working. They may have the 15k at hand, but are still short of 300k of loose cash.

[LivinLOS]

The simple math is if you can afford to drop 500k on Elite card you can certainly afford to invest 10 million baht for as long as necessary in one of many extremely safe Thai banks (I am not being sarcastic) and earn yourself an annual interest of 2.75%. That's a net profit of 275,000 baht a year or 1,375,000 million in 5 years. Heck, after 2 years you can pull your money out and buy yourself an elite card with the profits if you really, really want to.

I have beaten 10% return on my savings every year for the last 5 or 6.. By some years by multiples, but lets consider a mere 10% return.

That 10 mil put into thai banks then is 'losing' me 1 million a year in lost revenue.. So 5 mil without compounding over the 5 year period..

Sure thats discounted somewhat by having a 2.x % return in Thailand.. Its still a big loss to tie up that over simply spending the 500k.

[PattayaPhom]

Any mention of the VIP service at airport. 12/24 free limos and numerous discounts

Sent from my TRUE BEYOND 4G using Thaivisa Connect Thailand mobile app

[theguyfromanotherforum]

The simple math is if you can afford to drop 500k on Elite card you can certainly afford to invest 10 million baht for as long as necessary in one of many extremely safe Thai banks (I am not being sarcastic) and earn yourself an annual interest of 2.75%. That's a net profit of 275,000 baht a year or 1,375,000 million in 5 years. Heck, after 2 years you can pull your money out and buy yourself an elite card with the profits if you really, really want to.

I have beaten 10% return on my savings every year for the last 5 or 6.. By some years by multiples, but lets consider a mere 10% return.

That 10 mil put into thai banks then is 'losing' me 1 million a year in lost revenue.. So 5 mil without compounding over the 5 year period..

Sure thats discounted somewhat by having a 2.x % return in Thailand.. Its still a big loss to tie up that over simply spending the 500k.

I don't know you, so I don't know if you are lying or not. That is fine if you have a 10% return, but you are in minority. Mathematically, you also stand to lose money in the future due to a stock market crash while there is a minimum risk investment in guaranteed saving plans with banks.

However, I also don't think you are a type who would buy a 500k visa?

But maybe I am wrong.....

[humbug]

elite card suits those that dont want to spend hours every day and week studying worrying every 3 months if you can get an extension let alone a second year study especially during the present climate

so really if those expats can afford an elite card under 50 then its no brainer to buy one comparexto getting an ed visa

[larsjohnsson]

And how can you stay in Thailand for free those 5 years? Especially if you are under 50 and not married to a Thai.

If it would be possible to do border and tourist visa runs, how many in 5 years? 30-40 maybe. What would they cost?

[theguyfromanotherforum]

I mentioned that if you have 500k to drop on a visa, you certainly must have 10 million to invest. With 10 million you can stay in Thailand "for free" and Thailand will even reward you - in my case more than a Canadian bank which pays half the interest of a Thai bank.

Again, who bought this 500k visa? Raise your hand!

[larsjohnsson]

If you have 500k you must have 10 million

Why would you worry about the visa cost if you are that rich ???

Edited July 30, 2014 by larsjohnsson

[theguyfromanotherforum]

I am not saying how much money I have.... it is just in bad taste.

But let's just say I had exactly 10 million in my account and I have a choice of 2 visas.

I would go for investor visa and would not even think twice about this Elite card nonsense.

Anyhoo.... what's 10 million baht? Less than 200k UK pounds? The guy on another thread is getting blasted for calling himself financially independent by a lot of posters on this fine forum. I am assuming these posters then must make a lot more and have a pretty good nest egg stashed up. What's a 10mil to them? Why not go for investor visa? It has been there for quite some time and it is super hassle free,

I just don't get it?

[bangkoklasse]

I mentioned that if you have 500k to drop on a visa, you certainly must have 10 million to invest. With 10 million you can stay in Thailand "for free" and Thailand will even reward you - in my case more than a Canadian bank which pays half the interest of a Thai bank.

Again, who bought this 500k visa? Raise your hand!

If you have 10 million to invest in Thailand. Then you must have at least 40-50 millions. So why worry about peanuts then ?

[theguyfromanotherforum]

I mentioned that if you have 500k to drop on a visa, you certainly must have 10 million to invest. With 10 million you can stay in Thailand "for free" and Thailand will even reward you - in my case more than a Canadian bank which pays half the interest of a Thai bank.

Again, who bought this 500k visa? Raise your hand!

If you have 10 million to invest in Thailand. Then you must have at least 40-50 millions. So why worry about peanuts then ?

That's exactly my point. Who is this aimed at? Not for rich people, that's for sure.

My guess is for dumb or desperate people.

[Franky Bear]

If i wasn't getting married i'd get one. I'm 40 and can afford it. It's no ones business how anyone spends money or lives their lives.

Bitterness eats at you

[phirho]

But let's just say I had exactly 10 million in my account and I have a choice of 2 visas.

So this hypothetical person is happily willing to wire all their money into a random developing country? I would ask them how they earned that 10 million in the first place, with such fine risk management

[bangkoklasse]

I mentioned that if you have 500k to drop on a visa, you certainly must have 10 million to invest. With 10 million you can stay in Thailand "for free" and Thailand will even reward you - in my case more than a Canadian bank which pays half the interest of a Thai bank.

Again, who bought this 500k visa? Raise your hand!

If you have 10 million to invest in Thailand. Then you must have at least 40-50 millions. So why worry about peanuts then ?

That's exactly my point. Who is this aimed at? Not for rich people, that's for sure.

My guess is for dumb or desperate people.

Why do you worry about other peoples money? And why are the desperate and dumb ? The 500k card is a rather good solution for people under 50 that like to live here.

[LivinLOS]

The simple math is if you can afford to drop 500k on Elite card you can certainly afford to invest 10 million baht for as long as necessary in one of many extremely safe Thai banks (I am not being sarcastic) and earn yourself an annual interest of 2.75%. That's a net profit of 275,000 baht a year or 1,375,000 million in 5 years. Heck, after 2 years you can pull your money out and buy yourself an elite card with the profits if you really, really want to.

I have beaten 10% return on my savings every year for the last 5 or 6.. By some years by multiples, but lets consider a mere 10% return.

That 10 mil put into thai banks then is 'losing' me 1 million a year in lost revenue.. So 5 mil without compounding over the 5 year period..

Sure thats discounted somewhat by having a 2.x % return in Thailand.. Its still a big loss to tie up that over simply spending the 500k.

I don't know you, so I don't know if you are lying or not. That is fine if you have a 10% return, but you are in minority. Mathematically, you also stand to lose money in the future due to a stock market crash while there is a minimum risk investment in guaranteed saving plans with banks.

However, I also don't think you are a type who would buy a 500k visa?

But maybe I am wrong.....

I am not in any stocks (except private equity non listed of companies I have formed).

In fact most of my trades currently are looking for rising VIX and instability..

[DrTuner]

What's a 10mil to them? Why not go for investor visa? It has been there for quite some time and it is super hassle free,

It's an option among other options. Each goes through the options and picks one (or none). For example, the investor visa does not have a direct path to citizenship, it's another dead-end for those wishing to stay indefinitely. In their case the 10M is better spent opening up a business and paying yourself a salary in order to sort out the financial requirements.

[theguyfromanotherforum]

But let's just say I had exactly 10 million in my account and I have a choice of 2 visas.

So this hypothetical person is happily willing to wire all their money into a random developing country? I would ask them how they earned that 10 million in the first place, with such fine risk management

I know there is going to be a dummy to pull this comparison.

Thai banks have a better track record of paying out than a failed elite visa.

So, yes.... I have more faith in a Thai bank than elite card.

I guess all the condo owners in Thailand should be worried about losing their title too. I mean it's a third world country....

lol

[bangkoklasse]

But let's just say I had exactly 10 million in my account and I have a choice of 2 visas.

So this hypothetical person is happily willing to wire all their money into a random developing country? I would ask them how they earned that 10 million in the first place, with such fine risk management

I know there is going to be a dummy to pull this comparison.

Thai banks have a better track record of paying out than a failed elite visa.

So, yes.... I have more faith in a Thai bank than elite card.

I guess all the condo owners in Thailand should be worried about losing their title too. I mean it's a third world country....

lol

The track record of the 500k Elite card is 100% good. How much better are the banks...............

[enuff said]

.

Remember OP, people come on here and ASK for advice about what to do and the options available.

Don't shoot the messenger.

'nuff said

~

[theguyfromanotherforum]

The track record of the 500k Elite card is 100% good. How much better are the banks...............

Of course it is.... it has been out for barely a month.

Man, I haven't even been here that long yet I am aware of the epic fail of the previous elite card and all the "benefits" that got cut.

okay.

[bangkoklasse]

The track record of the 500k Elite card is 100% good. How much better are the banks...............

Of course it is.... it has been out for barely a month.

Man, I haven't even been here that long yet I am aware of the epic fail of the previous elite card and all the "benefits" that got cut.

okay.

It's not one month old. Read the long thread here about the Elite card. And no one lost money or their visa on the previous card either. You can read about that in the same thread