Thailand offers one of the world’s attractive and cheapest residence by investment scheme in Asia.
Thailand Elite is a long-term residence visa program managed by Thailand Privilege Card Company Limited (TPC). TPC is a 100%-owned special- purpose company under the Ministry of Tourism and Sport. The purpose of Thailand Elite is to promote Thailand to foreigners through the issuance of a special residence visa, giving them the right to reside in Thailand for up to 20 years. TPC registered its incorporation under the Civil and Commercial Code on 29 August 2003, having the Tourism Authority of Thailand as its sole shareholder and having the status of state enterprise under the Budget Procedures Act B.E. 2502 (1959).
Thailand Elite was initiated according to Article 17 of the Immigration Law B.E. 2522 (2003). It is supported by all government agencies and successful applications are irrevocable. The program has had over 4,000 approvals since inception.
Thai Elite Access is the most popular residence program for foreigners in Thailand, requiring $15,800 (THB 500,000) one time payment to secure a five year visa. Thailand elite visa can also be extended to family and allows buying real estate in Thailand. There are seven types of thai elite cards each with different set of requirements and visa length ranging from five years to 20 years at various price points. The 20 year visa is ideal for wealthy foreigners and retired/senior citizens who want to live in Thailand for a long time.
Thailand Elite offers seven program options, each varying in validity, benefits and costs. The following are the three most popular options available:
|Elite Ultimate Privilege|| 20-year residence visa for individuals who pay a one-off fee of approximately USD 60,000, plus an annual fee of approximately USD 600. Applicants must be aged 20 years or older. The residence visa can be transferred once during the 20-year validity at 20% of the prevailing rate. The package includes the following complimentary privileges:
|Elite Privilege Access||Designed for family applications with a 10-year residence visa for each applicant. The one-off fee is approximately USD 30,000 for the main applicant and USD 22,500 for each dependent. Dependents may include legitimate parents, step-parents, spouse (including by civil union), children and step-children. There is no annual fee and no age restriction. The residence visa cannot be transferred. The package includes complimentary privileges such as VIP transport services (limited to 18 short-haul airport transfers for international flights), government concierge services, plus one annual health check per person at a local private hospital.|
|Elite Easy Access||Popular option for expats or business persons to enter and exit Thailand. For this five-year residence visa, the one-off fee is approximately USD 15,000. There is no annual fee and no age restriction. The residence visa cannot be transferred, but can be upgraded to the Elite Ultimate Privilege option for approximately USD 45,000.|
The application process takes less than one month to get visa issuance at designated international airports.
Taxpayers are classified as either ‘resident’ or ‘non-resident’. Resident means any person residing in Thailand for a period(s) aggregating more than 180 days in any tax year. But even a resident is only liable to pay tax on income from sources within Thailand and that portion of income from foreign sources that is remitted into Thailand in the same year it is earned. A non-resident on the other hand is only subject to tax on income from sources within Thailand. Personal income tax rates are progressive up to a maximum of 35%.
After three years of living in Thailand.
To naturalize for Thai citizenship, investors have to spend 5 years living in Thailand, must prove minimum income and have renounced previous citizenship. Dual citizenship is restricted in Thailand.
Thailand passport has visa free travel to 77 countries in the world, as of 2018