Compared to other countries in South East Asia, Thailand’s visa laws and residency programs for expats and long-term foreign residents tend to be relatively stringent and complicated.
The paperwork, eligibility requirements and limited long stay options offered to foreigners are pain points that dissuade potentially high-profile individuals from considering residency in Thailand.
However, the pandemic had enormous adverse effects on the Thai economy and especially in the real estate industry. This has made authorities to reconsider and take action to improve the residency and visa options.
Elite Flexible One (EFO) by Thailand’s Privilege Card (TPC)
“The Elite Flexible One” by TPC is a residency option that was launched to stimulate the real estate, and tourism markets by facilitating long-stays for foreigners.
TPC is an entity operated by the Tourism Authority of Thailand and they offer residency programmes known as the “Thailand Elite”. The Thailand Elite Card has over 12,000 members, mostly from countries like China, Japan, the UK and the U.S.
This residency scheme offers between 5-20 years multiple-entry visa for members that purchase properties worth THB 10 million or more. The programme membership fee is priced at THB 600,000 and more for longer staying options.
The membership fee is competitively priced relative to the other non-real estate backed Thailand Elite residency options. This also makes the scheme more attractive compared to the standard Thailand Investment Visa that currently only offers a 1-year visa option.
The Elite Flexible One was launched to make Thailand’s real estate an attractive option for global investors. As it offers potential buyers and applicants the ability to benefit from a long-stay visa while enjoying investment returns of their Thai real estate holdings.
The residency scheme comes with additional luxury lifestyle benefits such as Airport Services (On departure and on arrival) and Thailand Elite Personal Liaison which is a luxury concierge service.
Real Estate developers participating in The Elite Flexible One
It is important to know that Thailand Privilege Card’s, the operator of the programme is vetting developer participation in the scheme and it ensures that only high-quality projects are presented to potential buyers and investors. The developer application and approval process are stringent and this means only established developers have submitted their projects to participate.
Developers and projects currently participating in The Elite Flexible One Program
Raimon Land condo projects
1. The Lofts Silom
2. The River
3. The Diplomat 39
AP Thailand PCL condo projects
1. Life Asoke- Rama 9
2. Life Asoke Hype
3. Life Ladprao
4. Life Ladprao Valley
5. Life One Wireless
6. Aspire Rattanathibet 2
7. Aspire Sukhumvit- On Nut
8. Aspire Asoke-Ratchada
Sansiri condo projects
1. Khun by Yoo
2. La Habana Hua Hin
3. XT Huaykwang
4. XT Ekkamai
5. Oka Haus Sukhumvit 36
6. The Base Central Phuket
Ananda Development condo projects
1. Ashton Asoke
2. Ashton Asoke-Rama 9
3. Ashton Residence 41
4. Ashton Silom
5. Ideo Q Victory
6. Q Prasarnmit
7. Ideo Q Sukhumvit 36
Nye Estate condo projects
1. Kraam Sukhumvit 26
2. Quarter 31
3. Quarter 39
Sena Development condo projects
1. Niche Mono Bearing
2. Niche Mono Puchao
3. Niche Mono Charoen Nakhon
4. Niche Pride Taopoon Interchange
Siamese Asset condo projects
1. Wyndham Residence
2. Wyndham Garden Residence
3. Ramada Plaza Residence
4. Ramada Residence
5. Siamese Exclusive 31
6. Siamese Surawong
7. Siamese KIN
8. Blossom Condo @ Sathorn-Charoenrat
9. Blossom Condo @ Fashion Beyond
Areeya Property condo projects
1. Chalermnit Art De Maison
2. A Space I.D. Asoke-Ratchada
3. A Space ME Rattanathibet
This is a list of a few developers and projects participating in the Elite Flexible One scheme and the list is likely to expand in the coming months.
Summary of The Elite Flexible One Program
General info
1. Membership fee starts at THB 600,000
2. 5-20 years multiple-entry visa
3. No annual renewal fees for some options
Conditions
1. Membership is not transferable
2. Membership can be upgraded to other Thailand Elite Packages
3. Applicants cannot mortgage, sell or transfer their property within the first 5-years
4. Applicants must own property with a value of no less than THB 10 million from participating developers
Extra benefits
1. Airport service (Premium Lane) including transportation to and from the airport
2. Airport service (Departure Lounge)
3. Elite Personal Liaison
4. Hassle free 90-days report
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