Elite Membership is one of the visas schemes for tourists managed by the Tourism Authority of Thailand (“TAT”) having varieties of package ranging from 5-10 years of membership.
TAT has proposed for extending its privileges to the Cabinet for approval in order to magnetize wealthy foreigners around the world to visit and stay in Thailand for long term periods.
On 8 June 2021, the Cabinet approved in principle for such proposed Flexible Plus Program as one of the national economic reliefs responding to the effect from Covid-19 pandemic. The Thailand Flexible Plus Program has 4 target groups, i.e. Wealthy Global Citizen, Wealthy Pensioner, Work-from-Thailand-Professional, and High-Skilled Professional.
Details of the project after working with the working team under supervision of the Deputy Prime Minister Supattanapong Punmeechaow was referred to the Cabinet but was rejected by the Secretariat of the Prime Minister thereafter. The Secretariat of the Prime Minister deemed that the matter is related to the Ministry of Interior and, therefore, ordered the TAT to schedule a meeting for further discussions in which the meeting was held on 9 July 2021.
The proposed plan includes a new type of Long-term Resident Visa (LTR VISA) and establishment of the LTR service unit to accommodate this plan. The LTR service unit will be established in a form of private entity having a concession granted by the Ministry of Finance to specifically manage this project. The key current requirements for the Elite Flexible Plus Program, as far as the TAT can confirm to the public at this moment, are making investment in Thailand in real estate, shares both in limited companies and stock market, debentures, or depositing in the bank accounts for a minimum of 1 million USD or around 30 million THB. The investment can be diversified and collectively reaches the minimum amount or can be invested wholly in one category. Other details will be announced later once it becomes clear.