Compared to other countries in Southeast Asia, Thailand’s visa laws and residency programs for expats and long-term foreign residents tend to be relatively stringent and cumbersome!
The paperwork, eligibility requirements and limited long stay options offered to foreigners are pain points that often dissuade potentially high-profile individuals from considering residency in Thailand.
However, the current pandemic has had enormously adverse effects on the Thai economy and especially its real estate industry; this has propelled authorities into action and highlighted the importance of improving the residency and visa conundrum!
Elite Flexible One (EFO) by Thailand Privilege Card (TPC)
“The Elite Flexible One” by TPC is a new residency program that was launched on January 1st to stimulate the real estate market and facilitate long-stays for foreigners!
TPC is an entity operated by the Tourism Authority of Thailand and they offer residency programs often known as the “Thailand Elite”. At present Thailand Elite Card has 13,600 members worldwide, mostly from countries like China, Japan, the UK and the US.
The new residency scheme will offer a 5-year multiple-entry visa for members that purchase properties worth Bt10 million through participating developers; the residency program membership fee is priced at Bt500,000.
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.
On top of that, 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!
Leading Developers Participating in The Elite Flexible One
It is important to note that Thailand Privilege Card the operator of the program is vetting developer participation in the scheme and it ensures that only high-quality projects are presented to potential investors. The developer application and approval process are stringent and this means only established developers have submitted their projects!
Here is a list of developers and projects currently participating in The Elite Flexible One Program:
1. The Lofts Silom
2. The River
3. The Diplomat 39
AP Thailand PCL
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
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
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
1. Kraam Sukhumvit 26
2. Quarter 31
3. Quarter 39
1. Niche Mono Bearing
2. Niche Mono Puchao
3. Niche Mono Charoen Nakhon
4. Niche Pride Taopoon Interchange
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
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 currently participating in the Elite Flexible One scheme and this list is likely to expand and grow in the coming months!
Summary of The Elite Flexible One Program
– Membership fee Bt500,000.
– 5-year multiple-entry visa.
– No annual renewal fees.
– Membership is not transferable.
– Membership can be upgraded to other Thailand Elite Packages.
– Applicants cannot mortgage, sell or transfer their property within these 5-years.
– Applicants must own property not less than Bt10 million from participating developers.
– Airport service (Premium Lane).
– Airport service (Departure Lounge).
– “Elite Personal Liaison”.
– Hassle free 90-day report.
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