Away from "Corona" ... special visas provide a safe haven for the rich in Thailand
The Elite Card provides a five-year, renewable residency. From the source
The "pay for residency" visa program in Thailand is witnessing an increasing demand by wealthy foreigners, at a time when this country has become a haven for expatriates, thanks to its relative success in containing the "Corona" virus.
The Thailand Elite card is a residency visa program for wealthy expats, investors and long-stay groups. To obtain it, an amount of between 16,000 and 65,000 dollars must be paid.
The Elite Card allows for a five-year renewable residency. They also come with perks, which include limousine transportation, aircraft and yacht rentals, medical checks and golfing at private courses in Bangkok, Phuket and Pattaya.
With borders now closed and global travel almost halted, this could sound like the worst possible time for the visa program. But Thailand Elite, which has been around for 17 years, is still resilient during the pandemic. It expects 2,288 new entrants in the fiscal year to September, up 6.8% from the previous year, and revenue is expected to increase 7.7%.
Expatriates already living in the country took 70% of the contributions this year, after concluding that it was better than resorting to work permits, which are valid for one year, and which require frequent review of government offices and lawyers.
"We have refocused our actions by targeting people inside the country, who want to stay in the long term and are unsure of the virus situation in their countries of origin," said the head of the government's Thailand Elite Program, Somchai Song Wang.
The possibilities for attracting subscribers from outside Thailand are currently limited due to strict border controls, but Wang believes there is a growing market for people abroad who want a safe and comfortable home, with Thailand being a good choice.