Thailand Elite Card is pleased to announce the release of four new membership programs

[DUS]

The operator of the Thailand Privilege card, also known as Thailand Elite card, has reported an improved performance, with accumulated losses steadily declining to 830 million baht at the end of March this year compared to 1.4 billion baht in 2009.

Pruet Boobphakam, president of Thailand Privilege Card Co Ltd (TPC), said on Monday revenue in the first six months of fiscal 2017 was 233 million baht, with 412 new members.

TPC targeted revenue of at least 400 million baht for all of 2017, with 412 new members in total.

 

The card, a brainchild of former prime minister Thaksin Shinawatra, suffered huge losses for several years. The Tourism Authority of Thailand, its sole shareholder, had to allocate a budget of 200 million baht to sustain its operation at one point.

"We no longer need state budget now as we can effectively manage costs and operational expenses effectively, resulting in a steady decline of accumulated losses to 830 million baht from 1.4 billion baht in 2009," Mr Pruet said.

From fiscal 2017 ending September 30 this year, TPC has set a revenue target of 400 million baht, up 15% from 380 million baht in the previous fiscal year.

 

In the first six months of fiscal 2017 ending March, revenue jumped 47% year-on-year to 233 million baht, exceeding the target by 16.5%.

During the period, the company attracted 412 new members, bringing the total to 4,348 members as of May 2.

 

Since TPC resumed sales of memberships in 2013, it attracted 1,840 new members, led by those from England (19%), China (18%), US (12%), France and Japan (10%) and Australia and Bangladesh (7%).

Most of the members are investors, retirees and children under two years old.

 

"The Thailand Privilege cards help promote the economy and tourism as its members spend a lot on goods and services in Thailand, including golf courses, hospital services, spas, restaurants and others. Some of them also bought condominiums," Mr Pruet said.

Part of the success is due to the addition of news products. It now has seven types of cards from three earlier.

 

Also helping are its partnership with Henley & Partners Holdings, with 28 offices worldwide, and sales through 21 agents.

 

"Through the cooperation with Henley & Partners, we set the goal of 200 million baht in sales in the first year, 300 million in the second and 400 million in the third. For 2017, we hope to book sales of 560 million baht -- 400 million from our agents and 160 million through Henley," he said.

There are seven types of Thailand Privilege cards, which vary by prices and privileges. The prices range from 500,000 to 2 million baht each.

 

 

 

[scubascuba3]

How on earth can they make such a big loss? I'd like to see a breakdown of the costs, probably laughable.

[DUS]

Well, assuming all reported figures are correct then I think it is quite an encouraging trend from the operator´s perspective (and also for the current and future members), imho.

 

But, yes, these numbers are a far cry away from the original lofty projections. :-) 

[anotheruser]

I did the 500,000 5 year plan. Even if they do go bankrupt for whatever reason my 5 year visa is already in my passport. The worst that could happen is I lose out on some free taxis. the risk of doing the 5 year plan is minimal to non-existent. 

 

The 20 year scheme is a different kettle of fish. This is because you aren't only gambling on TE but Thailand in general. I think you have it right DUS starting with the 5 year plan.

[midas]

26 minutes ago, scubascuba3 said:

How on earth can they make such a big loss? I'd like to see a breakdown of the costs, probably laughable.

I had no idea there were still losses of 830 million baht hanging over this organisation.  

 

Now it makes sense why some in these threads seem so overly anxious to defend or promote the " benefits ".

[DUS]

29 minutes ago, midas said:

I had no idea there were still losses of 830 million baht hanging over this organisation.  

 

Now it makes sense why some in these threads seem so overly anxious to defend or promote the " benefits ".

 

Well, for me there is only ONE benefit that really counts... the 5 year visa in my passport. 

[Robert24]

How on earth can they make such a big loss? I'd like to see a breakdown of the costs, probably laughable.

I had no idea there were still losses of 830 million baht hanging over this organisation.  
 
Now it makes sense why some in these threads seem so overly anxious to defend or promote the " benefits ".

Infrastructure, employees, benefits for customers etc. I'm not surprised.

Sent from my SM-J710F using Thailand Forum - Thaivisa mobile app

[thaifoodruns]

I did the 500,000 5 year plan. Even if they do go bankrupt for whatever reason my 5 year visa is already in my passport. The worst that could happen is I lose out on some free taxis. the risk of doing the 5 year plan is minimal to non-existent. 

 

The 20 year scheme is a different kettle of fish. This is because you aren't only gambling on TE but Thailand in general. I think you have it right DUS starting with the 5 year plan.

 

 

Not really, I'm in my first 5 years of 20 years, worst case scenario I get 10 years out of it which works out to 1M baht which is what I paid for 20 years.

 

 

Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[anotheruser]

Not quite sure how the worst case scenario is ten years?

[thaifoodruns]

Not quite sure how the worst case scenario is ten years?

OK worst case within 5 years, then I'm at a loss, but if I get second 5 years visa then I'm at no loss really, my risk is 25 percent then I breakeven


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[anotheruser]

Just now, thaifoodruns said:

 

 

OK worst case within 5 years, then I'm at a loss, but if I get second 5 years visa then I'm at no loss really, my risk is 25 percent then I breakeven


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

 

 

Okay if that works for you great. I prefer I have my 5 year visa and no risk at all. There is no risk whatsoever of having to renew it. It is a done deal. It helps that I am not hoping to be in Thailand more than 5 years so it was the most cost effective visa for me.

[scubascuba3]

Infrastructure, employees, benefits for customers etc. I'm not surprised.

Sent from my SM-J710F using Thailand Forum - Thaivisa mobile app

Infrastructure? Motorways and railway lines? Employees? 10k+ a month x?, benefits for customers? 200 baht massages, 1000 baht taxis. 1000 baht+ Golf green fees. There's a big hole, i can only guess where it's gone

[anotheruser]

Just now, scubascuba3 said:

Infrastructure? Motorways and railway lines? Employees? 10k+ a month x?, benefits for customers? 200 baht massages, 1000 baht taxis. 1000 baht+ Golf green fees. There's a big hole, i can only guess where it's gone

 

They planted a bunch of mangrove trees in some restoration area around Rayong according to the latest TE news in my mail box.

[gk10002000]

6 hours ago, anotheruser said:

Okay if that works for you great. I prefer I have my 5 year visa and no risk at all. There is no risk whatsoever of having to renew it. It is a done deal. It helps that I am not hoping to be in Thailand more than 5 years so it was the most cost effective visa for me.

I disagree that there is no risk.  Things change, laws change or are ignored, regimes come and go, policies change.  I tend to agree with you that it is very likely a done deal, but just like many warranties or guarantees, as time goes on, agencies sometimes don't care about honoring agreements made at the time of purchase.

[Robert24]

Infrastructure? Motorways and railway lines? Employees? 10k+ a month x?, benefits for customers? 200 baht massages, 1000 baht taxis. 1000 baht+ Golf green fees. There's a big hole, i can only guess where it's gone

Well speculation of this nature doesn't help anyone. This thread is about providing facts/experiences to people interested in this programme.

What's your message to people in this programme? You recommend against joining it because they made a loss?

My view is more that the price tags to the different programmes are rather low. I think they may well consider increasing the prices. 1m for 20 years is really a bargain.

Sent from my SM-J710F using Thailand Forum - Thaivisa mobile app

[midas]

10 hours ago, DUS said:

 

Well, for me there is only ONE benefit that really counts... the 5 year visa in my passport. 

It's certainly no chore to me to get my Visa once a year at a fraction of what you have paid and for myself I attribute no value whatsoever to the other things they throw in because I can get any of those things any time if I pay for them.

The other question I have is could this organisation even continue to exist if it was charging an annual fee rather than a lump-sum amount upfront? I suspect the overheads would far exceed the modest number of new members that are likely to come forward that would pay an annual fee.

For those who cannot qualify for a retirement Visa and feel they have no alternative but to purchase this card, is it right that they need to gamble  whether the organisation behind it can survive financially for the life of the card?

Before giving one baht for this I would rather go to one of the many other increasingly attractive destinations in Southeast Asia.

[midas]

To illustrate why I regard 500,000 baht to be excessive I compare it to the APEC card which I had for 9 years before I got my retirement visa.

This is essentially a 3 Visa but not only for Thailand - also all other APEC member countries like China, Vietnam, Philippines, Malaysia, Indonesia etc. this meant with this one card I never had to pay any Visa fees whatsoever to visit the other APEC countries either.

 

Grand cost for 3 years - $186 or $62 annually equals about 1,860 Baht per year.

 

That is what I call enjoying useful benefits

[newatthis]

10 hours ago, DUS said:

 

Well, for me there is only ONE benefit that really counts... the 5 year visa in my passport. 

I'm going your way, DUS. Not because I won't have the 800,000 but because it will just be so much easier for me paperwork wise. So today I will make the application by email, fly back to Oz on Sunday to finalize all my business and wait to hear from them in about two weeks from today, they said.

[steven100]

27 minutes ago, newatthis said:

I'm going your way, DUS. Not because I won't have the 800,000 but because it will just be so much easier for me paperwork wise. So today I will make the application by email, fly back to Oz on Sunday to finalize all my business and wait to hear from them in about two weeks from today, they said.

so what is the cost of a 5yr Elite Visa  ?  tks

[thaifoodruns]

500k baht


Sent from my iPhone using Thaivisa Connect

[DUS]

For me TE is of great value.

 

Due to my age, I cannot get the "retirement visa". I have been doing my visa runs every 2 months for the last year or so and have spend roughly 60k on those. Yes, some do it on the cheap but I want to do it with a little bit of comfort and I for myself considered the spend of 60k the minimum to achieve the level of "comfort" I want to have. So in the end, I spend maybe 40k a year on top for TE. A no-brainer for me really.

 

 

[thaifoodruns]

For me TE is of great value.
 
Due to my age, I cannot get the "retirement visa". I have been doing my visa runs every 2 months for the last year or so and have spend roughly 60k on those. Yes, some do it on the cheap but I want to do it with a little bit of comfort and I for myself considered the spend of 60k the minimum to achieve the level of "comfort" I want to have. So in the end, I spend maybe 40k a year on top for TE. A no-brainer for me really.
 
 

Me too I was spending 50k a year doing visa runs, used to be 30k 5 years ago, this is great value if they don't shut shop


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[steven100]

7 minutes ago, thaifoodruns said:

 

 

Me too I was spending 50k a year doing visa runs, used to be 30k 5 years ago, this is great value if they don't shut shop


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

 

 

so you mean the 5yr TE is the way to go .....    cost 500k baht

[thaifoodruns]

Depending how old you are and how long you plan on being here, im 35 and plan to be here longer than 5 years so went for 1mil 20 years option, works out to about 50k per year, no inflation

It's a small risk to take in that if they don't close in 6 years, when I get my second 5 year visa I wouldn't of lost any money


Sent from my iPhone using Thaivisa Connect

[buick]

14 hours ago, DUS said:

Thailand Elite card, has reported an improved performance, with accumulated losses steadily declining to 830 million baht at the end of March this year compared to 1.4 billion baht in 2009.

i'm a little confused (i'm not a TE holder).  i think they are saying they are currently profitable as the 'accumulated losses' have been reduced from 1.4 billion to 830 million.  so the initial program was a complete bust but the more recent offerings have been profitable.  am i reading that right ?

 

 

[Robert24]

To illustrate why I regard 500,000 baht to be excessive I compare it to the APEC card which I had for 9 years before I got my retirement visa.
This is essentially a 3 Visa but not only for Thailand - also all other APEC member countries like China, Vietnam, Philippines, Malaysia, Indonesia etc. this meant with this one card I never had to pay any Visa fees whatsoever to visit the other APEC countries either.
 
Grand cost for 3 years - $186 or $62 annually equals about 1,860 Baht per year.[emoji2]
 
That is what I call enjoying useful benefits[emoji106]

So the APEC card gives you a 3 yr Visa in Thailand? With like 1 year extension of stay?

How can you obtain it? Any special criteria?

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[ubonjoe]

17 minutes ago, Robert24 said:

So the APEC card gives you a 3 yr Visa in Thailand? With like 1 year extension of stay?

The APEC card only allows 90 day entries.

You must be from a country that is a member of APEC and be working for a company there to get the card.

[DUS]

6 minutes ago, ubonjoe said:

The APEC card only allows 90 day entries.

You must be from a country that is a member of APEC and be working for a company there to get the card.

APEC member economies fully participating in the scheme include Australia, Brunei Darussalam, Chile, China, Hong Kong (China), Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, and Viet Nam. Canada and the United States are transitional members of the scheme.

[DUS]

So the APEC card is not an option for many people and even less comparable to  TE and the 5 year visa it represents.

[scubascuba3]

Well speculation of this nature doesn't help anyone. This thread is about providing facts/experiences to people interested in this programme.

What's your message to people in this programme? You recommend against joining it because they made a loss?

My view is more that the price tags to the different programmes are rather low. I think they may well consider increasing the prices. 1m for 20 years is really a bargain.

Sent from my SM-J710F using Thailand Forum - Thaivisa mobile app

How the loss is incurred is important because if its unexplained another unexplained loss could easily happen, then what...

For me the TE is a last resort due to cost and its future being uncertain.

I'll be 50 in 3 years so its just a case of METVs every year then SETVs if that becomes a problem. If i was much younger I'd get the 20 year one and take the gamble. I wouldn't do the 5 year one, 20 year one is just better value.