Thailand is one of the most popular tourist destinations in Southeast Asia, with a low cost of living and a high standard of living. It boasts a population of 68 million people, all of whom are recognized for being kind. It’s no surprise that Thailand is known as the “Land of Smiles.” Ancient ruins, scuba diving opportunities, gorgeous beaches, an active nightlife, Buddhist temples, and many UNESCO World Heritage Sites are among the country’s attractions. Bangkok, often known as the ‘City of Angels,’ is located in the center of the country and offers a vibrant urban lifestyle on a worldwide scale. Thailand has been hailed as a development success story, having progressed from a low-income to a high-income country in less than a generation. Apart from its agricultural riches, the country’s industrial production facilities in automobiles, electronics, health care, and jewelry are world leaders.
Thailand Privilege Card Company Limited issues the resident permission (privilege entrance visa) (TPC). Thailand has become one of Southeast Asia’s most popular tourist destinations, with a rising number of rich families and retirees looking to take advantage of the country’s temperate temperature, magnificent scenery, and excellent leisure facilities.
The investment visa is renewable on an annual basis as long as the above-mentioned investments are maintained. Investment Visa holders, like other visa holders, must report their addresses every 90 days and can only work in Thailand if they have a work permit. Family members of an investor are also eligible for long-term residency in Thailand if they can prove their ties to the investor. Parents, spouses, and children are among the family members who qualify. They can also work in Thailand if they have the necessary work licenses.
Residents can stay in the country for as long as they choose, as long as they keep within the confines of their chosen program. The Thailand Elite Residence Program offers a number of different program alternatives, each with its own set of features, prices, and validity. The three most prevalent options are as follows:
- Elite Easy Access – For expats and entrepreneurs, this is a popular way to enter and exit Thailand. The one-time charge for a five-year privilege entrance visa is THB 600,000, including VAT (approximately USD 19,000). There is no annual charge and no upper age limit. The resident visa cannot be transferred, but it can be upgraded to Elite Ultimate Privilege for THB 1.498 million including VAT (about USD 48,000) or Elite Superiority Extension for THB 400,000 plus VAT (roughly USD 48,000). (approximately USD 12,000).
- Elite Family Excursion – For a minimum of two persons, with each member receiving a five-year resident visa. The one-time fee of THB 800,000 plus VAT (about USD 25,000) covers both applicants, with a separate fee of THB 300,000 plus VAT (roughly USD 10,000) for each dependent. Legitimate parents, stepparents, spouse (even through civil union), children, and stepchildren may be among the core applicant’s dependents. There is no annual charge, and there is no age limit. It is not possible to transfer a resident visa. The package includes complimentary VIP benefits such as airport transportation and government concierge services for overseas trips.
- Elite Superiority Extension — a 20-year visa with special privileges for those who pay a one-time price of THB 1 million plus VAT (approximately USD 32,000). There is no annual charge, and there is no age limit. The package includes free VIP benefits such as government concierge services and airport transportation.
A Non-Immigrant Visa is required, as well as a 10 million baht investment in one of the following:
- International transfer – The amount must be at least 10 million baht. If you don’t have a work permit or a Non-Immigrant Visa, opening a bank account with a Thai bank that owns at least 51 percent of its shares by Thais will assist you qualify for a fixed deposit account.
- Purchasing a condominium – A condominium in Thailand requires a minimum investment of 10 million baht. You will not be qualified for an Investment Visa based solely on the condo purchase if you buy a condo for 11 million baht but the Department of Land declares it to be just 9 million. It’s best to double-check the valuation with the Department of Lands and keep the transfer tax receipt. If the value of your condo decreases below 10 million baht after you acquire it, you won’t be able to get or renew your Investment Visa unless you can provide the immigration office a transfer tax receipt that shows the condo’s value when you bought it. You can’t just buy any condo with an Investment Visa; the condo must be certified by the Thai government or a linked entity. This means that you must buy a new condominium from a developer and hold it for at least three years to qualify for the Investment Visa.
- Open a Thai bank account with a fixed amount — You can open a fixed deposit bank account with a majority Thai-owned bank for 10 million baht. The visa should be simple if you can open a bank account with them, but keep in mind that you won’t be able to withdraw the 10 million baht while your investment visa is still valid.
- Have government bonds and a state-owned company – You must purchase government or state enterprise bonds in order to receive an Investment Visa. You should be able to buy them from any Thai bank, but keep in mind that once they’re released, these bonds sell out quickly, and there’s a limit on how many you can buy. Because of these constraints, investing 10 million baht in government bonds is challenging on its own, but it is possible when combined with other types of investments.
Invest in a variety of things – If the entire investment amount reaches 10 million baht, you can apply for an Investment Visa by combining the three types of investments. It could be a 5 million baht condominium, a 4 million baht fixed deposit account, or 1 million baht in government bonds, for example.