The Government of Thailand has appointed a global citizenship and residence advisory firm to promote the country’s residence visa program, Thailand Elite. One of the targets of the promotion will be affluent Chinese migrants.
The program gives foreigners the right to live in the country for up to 20 years.
The Thai government partnered with Henley & Partners to conduct the program that is expected further popularize Thailand among Chinese high net worth individuals.
A statement issued by the firm stated that Thailand Elite is the first residence program that includes VIP membership privileges as part of the package.
The issued statement implied that the program is also targeting Macau residents.
The program is designed to attract wealthy global citizens, families, investors and entrepreneurs who want to spend extended periods of time in the country and take advantage of its beneficial tax regime and affordable standard of living.
Figures from CBRE Thailand, a real estate firm, showed that the Chinese expatriate population has doubled over the past five years, making it the second-largest foreign community in Thailand after the Japanese.
“The concept of being a global citizen is gaining traction as a beneficial second or third residence or citizenship gives wealthy individuals a choice of more freedom of movement, global mobility, privacy and security” said Jennifer Lai, managing partner and head of North Asia for Henley & Partners.
“In response to these migration trends, governments are rolling out residence and citizenship programs, like Thailand Elite, as a way of driving economic growth, securing much-needed foreign investment as well as attracting people who have proven business success, talents and networks,” Lai added.
To obtain a Thailand residence visa, foreigners must be a member of Thailand Elite, a program offered by the Thailand Privilege Card Company Limited (TPC), a wholly owned subsidiary of the Tourism Authority of Thailand.
The Thailand residence program provides a multiple entry visa and allows holders to stay in the country for an unlimited period of time as the one-
year stay extension can be renewed every year without the need to cross the border.
According to the firm, seven different options are available to meet different family and individual needs.
The Elite Ultimate Privilege provides a 20-year residence visa with complementary VIP services for applicants over the age of 20 years who pay a one-off fee of approximately USD60,000 and an annual fee of approximately USD600.
Meanwhile the “Elite Privilege Access” provides a 10-year residence visa to applicants with a one-off fee of approximately USD30,000 for the primary applicant and approximately USD22,500 for each dependent with no annual fee or age restriction.
Another popular option is the “Elite Easy Access,” which provides expats a five-year residence visa with a one-off fee of USD15,000. LV