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THAILAND SHAKES UP GOLDEN VISA SCHEME – HIKES PRICE BY UP TO 500 PERCENT
18/09/2023
Thailand’s Thai Elite golden visa scheme has undergone a significant overhaul, now rebranded as Thailand Privilege and with price hikes ranging from 50 per cent to 500 per cent across different packages. The move, coinciding with its 20th anniversary, was announced by Thailand Privilege Card Co. (TCP), a Tourism Authority of Thailand subsidiary.
The former Thai Elite visa, priced at one million baht (US$28,587) and available to all, has given way to an exclusive Reserve Card, which is by invitation only and limited to just 100 new members annually. This costs five million baht. Holders of the Reserve Card can keep the good times rolling with five-year extensions, each at a mere 10 per cent of the Reserve card’s current value when they decide to extend.
Thailand has made changes to its Thai Elite visa programme
Meanwhile, the popular five-year visa package, previously valued at 600,000 baht, has been rebranded as the Gold Card, now priced at 900,000 baht. Additional options include the Diamond Card (15 years for 2.5 million baht) and the Platinum Card (10 years for 1.5 million baht).
The highlight of the revamp is a new loyalty scheme and privilege points that vary according to the tier, allowing members to redeem benefits through more than 100 programme partners across Thailand. Previously known for signature perks like airport fast track services and golf packages, the new scheme greatly expands on these offerings.
Approximately one per cent of expatriates and long-stay tourists in Thailand are part of the existing Thai Elite programme, which boasts 31,500 members and has reportedly contributed over 50 billion baht to the country’s economy. Despite only turning its first profit of 238 million baht in 2021, 17 years after its launch, the programme has since remained profitable.
“In the year 2023 alone, we achieved approximately 7,500 billion baht, witnessing a growth of more than 11,500 members, representing a remarkable 210 per cent increase from the revenue of 2022,” stressed TPC president Manatase Annawat.
It hopes to boost its membership by 10,000 in the coming year under the new scheme.
Current Thailand Elite packages can be applied for until September 15. They will be discontinued and replaced with new packages on October 1, 2023.
