Image: Aerial view of Bangkok, Thailand
The Royal Thai Government has appointed Henley & Partners to promote Thailand’s exclusive residence visa program to promote the migration of wealthy global citizens. The residence visa program, Thailand Elite, gives foreigners the right to reside in the country for a maximum of 20 years.
The new initiative marks the first of its kind worldwide, and targets high net worth families, investors and entrepreneurs from around the world who wish to stay in the country for extended periods. Aside from its relatively affordable standard of living, Thailand boasts a temperate climate and one of the most stunning beaches in the world. Thailand also tops the list of The 2017 Best Countries report by U.S. News & World Report in the Best Countries to Start a Business. The report ranks 80 countries in the areas of affordability, bureaucracy and connectivity to the rest of the world, and more.
Thailand has also made exceptional progress in the last 40 years, transforming from a relatively low-income country to one that commands ultra-high incomes in less than one generation. The quick progression has caught global attention, with the country widely considered a development success story.
Foreigners are only eligible for the Thailand Residence Visa Program if they are a member of Thailand Elite, by Thailand Privilege Card Company Limited. The program offers a multiple entry visa, aside from the right to stay in the country for a limitless period of time according to their program option.
Among the seven currently available program options, the most popular ones include the Elite Ultimate Privilege which offers a 20-year residence visa for applicants over 20 years old, with a one-off fee of approximately $60,000. The Elite Privilege Access offers a 10-year residence visa and is particularly popular with families, with a one-off fee of $30,000. The fee for each subsequent dependent costs $22,500 without any further annual fees or age restrictions. Both program options come with complimentary VIP services.