My Elite Visa Application (Day 1 until the End)

[LASportsNut]

6 minutes ago, leicesterguyuk said:

I was in a similar situation with the choice between 5 and 20 years. As I'm only 36 years old, it was actually a no brainer in the end to go for the 20 year option. 

In your calculation, don't forget the extra 6 months for free if you've paid up by the end of September. 

Have you asked Thai Elite anything about getting the visa affixed yet? Is the option to have the visa posted out to your local embassy official? 

Good point. I added the new calculations adding the 6 months.

I did not ask about the visa affixed yet, as I have researched everywhere and it seems it must be done at BKK for the first time.

When I get more instructions after payment I will add more detail.

 

Edited August 26, 2020 by LASportsNut

[LASportsNut]

I will add a timeline at the end, however.....

Day #23 (August 26):

Approval from Thailand government

Currently ahead of schedule, however due to Thailand still not sure how they will resolve the reintroduction of Elite Visa and Retirement Visa, I am expected some delays to come.

[leicesterguyuk]

31 minutes ago, LASportsNut said:

Good point. I added the new calculations adding the 6 months.

I did not ask about the visa affixed yet, as I have researched everywhere and it seems it must be done at BKK for the first time.

When I get more instructions after payment I will add more detail.

 

It seems there is a lot of conflicting info out there. I saw one post (not sure if it was on this thread or elsewhere) saying they'd received an email from Thai Elite saying the visa sticker would be posted out to your local embassy and it would be affixed there. New members can't get it affixed at Suvarnabhumi at the moment due to the arrival procedure, I believe. 

Are you going to clarify and confirm before you make payment, or plough ahead anyway? 

[LASportsNut]

3 minutes ago, leicesterguyuk said:

It seems there is a lot of conflicting info out there. I saw one post (not sure if it was on this thread or elsewhere) saying they'd received an email from Thai Elite saying the visa sticker would be posted out to your local embassy and it would be affixed there. New members can't get it affixed at Suvarnabhumi at the moment due to the arrival procedure, I believe. 

Are you going to clarify and confirm before you make payment, or plough ahead anyway? 

Yes, I saw this too.  However, it appeared to be from an agent and not from Thailand Elite Visa.

I did not see anything about the issues with BKK and sticker due to quarantine.

I am plowing ahead (this is an expensive bottle of wine, I am drinking, LOL), but I will inquire about this before I go in 100%

[leicesterguyuk]

10 minutes ago, LASportsNut said:

Yes, I saw this too.  However, it appeared to be from an agent and not from Thailand Elite Visa.

I did not see anything about the issues with BKK and sticker due to quarantine.

I am plowing ahead (this is an expensive bottle of wine, I am drinking, LOL), but I will inquire about this before I go in 100%

I saw a couple of reports about the sticker being posted out, but I'm unsure if they were from an agent or direct from Thai Elite. 

I read Elite personnel aren't allowed access to the airport at the moment due to the new arrival procedure, which is why it's proving so difficult for new members. And also because of there being no visa in the applicants passport when trying to get the CoE. 

[LASportsNut]

2 minutes ago, leicesterguyuk said:

I saw a couple of reports about the sticker being posted out, but I'm unsure if they were from an agent or direct from Thai Elite. 

I read Elite personnel aren't allowed access to the airport at the moment due to the new arrival procedure, which is why it's proving so difficult for new members. And also because of there being no visa in the applicants passport when trying to get the CoE. 

All of this makes since.

Hopefully they can resolve this soon.

It appears Thailand Elite has some status with the goverment, so I am sure they will get it resolved eventually.  

Edited August 26, 2020 by LASportsNut

[LASportsNut]

Day #23 (August 26) continued:

I received the following email from Thailand Elite Visa (edited some of the Thai-English):

Dear Mr. LASportsNut (LOL)

Greetings from Thailand Elite ….

We are pleased to inform you we acquired an approval letter from the Ministry of Foreign Affairs. Please find the letter and banking details attached.  Furthermore, please make your payment after you receive this letter.  Please note that the approval letter is valid until December 30, 2020 .

 

The value of “Elite Superiority Extension” is THB 1,000,000, which is **Non-Refundable.**

Once you make payment, please scan and send us the payslip via email

P.S. Please inform your bank that you would like to transfer THB 1,000,000 (excluding the transfer charge).

Payment Options:

1. Wire Transfer from overseas bank account. This could take about 5 working days for us to confirm payment.
2. Transfer from local bank account. This could take 2-3 working days to confirm the payment.
3. Deposit the full amount into Thailand Elite bank account as stated in the Approval Letter. This could take within a day to confirm.
4. Online Payment- Please visit https://www.thailandelite.com/payment/transfer  

 ** Once you have completed the payment, please submit the proof of payment (payment slip, pay in slip, MT103 etc.) to [email protected].

Please ensure that the total amount reaches TPC account. Therefore, kindly take care of other additional bank charges that may occur on your side.

There are 3 options for you to obtain Elite Visa: 

1. (Recommended) Upon Arrival at Suvarnabhumi and Phuket International Airport (Direct International Arrival Flight Only) *24/7 availability (Tourist visa is required for some nationality)
2.  Upon Arrival at Chiang Mai Airport (Direct International Arrival Flight Only) *24/7 availability without Elite Personal Assistant (EPA) (Tourist visa is required for some nationality)
3. While staying in Thailand: you can request to obtain Elite Visa at Chaengwattana Immigration Office in Bangkok *Business days only. Depend on availability of Elite Personal Liaison (EPL) this option necessary to have the TM.30 Form (for the Residence Notification as the responsibility from the house/building owner where you stayed with).

* For all options, please contact the Member Contact Center 5 working days in advance at +66 2 352 3000  or at [email protected] after receiving a welcome letter including ID number.

If you have any questions, please contact us.  We look forward to welcoming you as an Elite Member.

Best regards,

 

Thailand Privilege Card Co., Ltd.

110/2 North Sathorn Road, Silom,

Bangrak, Bangkok 10500 Thailand

Telephone : +66 (0) 2353-4129

Mobile         : +66 (0) 85 123 3099

https://www.thailandelite.com

Edited August 27, 2020 by LASportsNut

[LASportsNut]

The attached two documents to the last email.

One was the procedure to obtain a refund if I overpaid for the service.

It basically indicated there was a 3000 baht fee for any refund request. 

555+++

The other document was more detailed payment information.

It should be noted they have a Transfer Wise payment option.

I will pay using two new credit cards to obtain the points.

I will use transferwise if I am short on any of the payment amounts.

It should also be noted I will have until September 30, 2020 to pay and get an extra 6 months.  

Or if I wait I can still pay up to December 30, 2020 .

I will monitor the situation with the Thailand government to ensure they will allow Elite Visa entry as well as ensure the requirements are obtainable for me before I pay.

[leicesterguyuk]

1 hour ago, LASportsNut said:

The attached two documents to the last email.

One was the procedure to obtain a refund if I overpaid for the service.

It basically indicated there was a 3000 baht fee for any refund request. 

555+++

The other document was more detailed payment information.

It should be noted they have a Transfer Wise payment option.

I will pay using two new credit cards to obtain the points.

I will use transferwise if I am short on any of the payment amounts.

It should also be noted I will have until September 30, 2020 to pay and get an extra 6 months.  

Or if I wait I can still pay up to December 30, 2020 .

I will monitor the situation with the Thailand government to ensure they will allow Elite Visa entry as well as ensure the requirements are obtainable for me before I pay.

I guess the big question now is, how can you get the Elite visa affixed? Have Thai Elite mentioned that yet (other than the 3 options stated which are all not possible right now) or have you asked this question? 

And what is a MT103? Never heard of that before. 

[LASportsNut]

7 minutes ago, leicesterguyuk said:

I guess the big question now is, how can you get the Elite visa affixed? Have Thai Elite mentioned that yet (other than the 3 options stated which are all not possible right now) or have you asked this question? 

And what is a MT103? Never heard of that before. 

They have not indicated how to get the Elite Visa affixed but I am thinking one of two ways.

If they open up all of Thailand then you will either do it at BKK if they allow special lanes for Thailand Elite.

If not then after the quarantine you will have to seek out the location they mention in the letter.

If they open up Chiang Mai only for the 2 week quarantine and then the extra week, then when you fly back to BKK you can handle it there.

What is an MT103?

An MT103 is a standardised SWIFT payment message used specifically for cross border/international wire transfers.  (Maybe Transferwise for Elite Visa?).

MT103s are globally accepted as proofs of payment and include all payment details such as date, amount, currency, sender and recipient.

MT103s are also great for tracing payments which are missing or delayed because they show the route of the payment between the banks.

All banks and financial institutions which make payments via SWIFT will have an MT103 for every payment, but they are unlikely to let you have them. 

[leicesterguyuk]

12 minutes ago, LASportsNut said:

They have not indicated how to get the Elite Visa affixed but I am thinking one of two ways.

If they open up all of Thailand then you will either do it at BKK if they allow special lanes for Thailand Elite.

If not then after the quarantine you will have to seek out the location they mention in the letter.

If they open up Chiang Mai only for the 2 week quarantine and then the extra week, then when you fly back to BKK you can handle it there.

But even in normal times, you cannot travel to Thailand without either a visa of some sort or be from a country with visa exemption status. As both of these are suspended, what would you use to travel to Thailand initially? 

The Chiang Mai idea, for those first 3 weeks, what visa will you be on? Same for the Bangkok option of getting it affixed at Chaeng Wattana? 

[LASportsNut]

4 minutes ago, leicesterguyuk said:

But even in normal times, you cannot travel to Thailand without either a visa of some sort or be from a country with visa exemption status. As both of these are suspended, what would you use to travel to Thailand initially? 

The Chiang Mai idea, for those first 3 weeks, what visa will you be on? Same for the Bangkok option of getting it affixed at Chaeng Wattana? 

I get a 30 days without a visa as I am from USA. Unsure of other countries (I am sure UK is part of it):

The VISA EXEMPTION RULE allows tourists from 64 countries to enter Thailand without a visa. They are granted to stay a maximum of 30 days if they are entering Thailand via an international airport or entering through a land border checkpoint from neighboring countries

Edited August 27, 2020 by LASportsNut

[leicesterguyuk]

8 minutes ago, LASportsNut said:

I get a 30 days without a visa as I am from USA. Unsure of other countries (I am sure UK is part of it):

The VISA EXEMPTION RULE allows tourists from 64 countries to enter Thailand without a visa. They are granted to stay a maximum of 30 days if they are entering Thailand via an international airport or entering through a land border checkpoint from neighboring countries

Under normal circumstances yes (the UK too) but these are suspended indefinitely. 

I think that's why there has been so much talk of having the Elite visa affixed locally at an embassy, because there's no other way of obtaining another visa for initial entry. 

[LASportsNut]

10 minutes ago, leicesterguyuk said:

Under normal circumstances yes (the UK too) but these are suspended indefinitely. 

I think that's why there has been so much talk of having the Elite visa affixed locally at an embassy, because there's no other way of obtaining another visa for initial entry. 

Yes, I think i mentioned earlier. I think that was an agent or other false information. Thailand Elite Visa runs the program and I have never seen them mention this method.

If they did they cannot force the embassy in each country to do this

[leicesterguyuk]

3 minutes ago, LASportsNut said:

Yes, I think i mentioned earlier. I think that was an agent or other false information. Thailand Elite Visa runs the program and I have never seen them mention this method.

If they did they cannot force the embassy in each country to do this

It was quoted as being from an email received direct from Thai Elite themselves, but whether it was or not, who knows. 

So if affixing at a local embassy isn't an option, nor is a tourist visa and nor is a visa exempt, and Thai Elite not being allowed into the airport to affix it, new members outside of Thailand currently have no option? 

This is the biggest stumbling block currently for me whilst awaiting approval. 

[LASportsNut]

3 minutes ago, leicesterguyuk said:

It was quoted as being from an email received direct from Thai Elite themselves, but whether it was or not, who knows. 

So if affixing at a local embassy isn't an option, nor is a tourist visa and nor is a visa exempt, and Thai Elite not being allowed into the airport to affix it, new members outside of Thailand currently have no option? 

This is the biggest stumbling block currently for me whilst awaiting approval. 

In my opinion you are overthinking it.

Once Thailand approves your flight and hotel arrangements then the Elite Visa is down the road within the 30 day time period.

[leicesterguyuk]

2 minutes ago, LASportsNut said:

In my opinion you are overthinking it.

Once Thailand approves your flight and hotel arrangements then the Elite Visa is down the road within the 30 day time period.

I hope you're right! I've read so much about it, it's hard to know what is real and what is fake. 

I suppose the best / only way to find out is from Thai Elite themselves as I expect they've been asked this question many times recently. 

Incidentally, it was my local embassy in London that told me they cold only issue a CoE with the Elite visa already in the passport. But people enquiring at other embassies have reported differently. 

[LASportsNut]

4 minutes ago, leicesterguyuk said:

I hope you're right! I've read so much about it, it's hard to know what is real and what is fake. 

I suppose the best / only way to find out is from Thai Elite themselves as I expect they've been asked this question many times recently. 

Incidentally, it was my local embassy in London that told me they cold only issue a CoE with the Elite visa already in the passport. But people enquiring at other embassies have reported differently. 

Yes, I agree with this.

I would ignore PA and all the media speculation.  

I would direct all questions to you assigned representative from Thailand Elite Visa.

If they did not have superior customer service they would be out of business.

[albertascout]

@LASportsNut

I have a question about the "O" retirement visa.  When you deposit the 800,000 baht, does it have to be a regular/no interest account?  Can I put 800,000 in a Thai investment account instead?

If you have to have the money in a zero interest (or damn near close to it) account, I could be making 6 to 10% with that money in the market (average return). could that money being made in the market could be considered a "savings" against the Elite visa?

800,000 baht at 6% return = 48000.  48,000 baht times 5 years = 240,000 baht.  That is almost half the cost of the Elite visa at 500,000 baht right?

If i am way off please explain.  

Ready to be embarrassed.

D

[LASportsNut]

[mention=77096]LASportsNut[/mention]
I have a question about the "O" retirement visa.  When you deposit the 800,000 baht, does it have to be a regular/no interest account?  Can I put 800,000 in a Thai investment account instead?
If you have to have the money in a zero interest (or damn near close to it) account, I could be making 6 to 10% with that money in the market (average return). could that money being made in the market could be considered a "savings" against the Elite visa?
800,000 baht at 6% return = 48000.  48,000 baht times 5 years = 240,000 baht.  That is almost half the cost of the Elite visa at 500,000 baht right?
If i am way off please explain.  
Ready to be embarrassed.
D

You are exactly correct. I average 8% in my mutual funds I am invested in as it is tied to the SP500.

I could not find an investment account in Thailand. I also read the funds must be in a thai “bank account not an investment account” but like many things in the PA it may not have been 100% accurate.

One of the reasons I was going to apply for the Retirement Visa in the USA versus while in Thailand, was the it was less demanding. I only needed to show my monthly income (letter from pension company and US bank account statement showing they matched).

I was not required to deposit 800,000 baht.

However I did send them copies of my Thailand bank account to show I had one. I also showed them a copy of my 457 account (similar to a 401K) which is significantly more than the 800,000 baht.

I have attached a copy of the checklist I originally was required to submit for the retirement visa.


Sent from my iPhone using Tapatalk Pro

[forcebwithu]

Looks like you may soon have another option for staying long term in Thailand.

Long-stay visits possible this winter

Authorities are finalising a plan that would make it possible for retired, sun-seeking foreigners to spend the coming winter months in Thailand in an effort to save the ailing tourism industry, says a prominent hospital executive.

Although the country’s borders have been closed to most foreigners since late March to fight the pandemic, the government is proposing to grant visas to foreigners who want to stay in Thailand for up to nine months, said Boon Vanasin, chairman of Thonburi Healthcare Group Plc, the country’s third largest private hospital firm, which runs hospitals and retirement homes.

These long-term visitors would begin their stay with a mandatory 14-day quarantine and frequent virus tests in of Phuket. After three weeks on the island and negative test results, they would be free to travel to other regions of the country, according to Dr Boon, who said he has direct knowledge of the government’s plan and expects the arrivals to begin before winter.
...

Going this route would also provide an easy route to obtaining a Non-O Visa while in Thailand. The Non-O has the added advantage of not requiring the poor value for money health insurance that is now mandated for the Non-OA Visa.

[ocka]

5 hours ago, albertascout said:

800,000 baht at 6% return = 48000.  48,000 baht times 5 years = 240,000 baht.  That is almost half the cost of the Elite visa at 500,000 baht right?

It's a bit of a "swings and roundabouts" situation.

With a retirement visa you are losing the return on THB 800,000 while with the Elite visa you are losing the return on 500,000.    The difference is that at the end of 5 years,  the guy on the retirement visa still keeps the 800,000, while the 500,000 for the Elite visa is gone.

I will have a go at the calculation,  considering a compounded return of 6% over 5 years. (that is 33.8% total)

Elite visa: 500,000 payment upfront + 33.8% of 500,000 =   669,112.   That is 11,152 baht per month.

Retirement visa: zero payment upfront + 33.8% of 800,000 = 270,400.  That is 4,507 baht per month

Of course I have oversimplified here, because I haven't included the fees for renewing the retirement extension each year,  and the original visa. (I don't know these details.)

If I do the same simple calculation for the 20 year visa.  (6% compounded for 20 years is 220.7%) I get the following:

Elite visa 3,207,000 baht or  13,363 per month

Retirement visa 1,766,000 baht or 7,357 per month.  

So it seems that at worst,  the 5 year elite visa is only about $215 (USD) more per month than a retirement visa, which could be worthwhile for many people.

[LASportsNut]

It's a bit of a "swings and roundabouts" situation.
With a retirement visa you are losing the return on THB 800,000 while with the Elite visa you are losing the return on 500,000.    The difference is that at the end of 5 years,  the guy on the retirement visa still keeps the 800,000, while the 500,000 for the Elite visa is gone.
I will have a go at the calculation,  considering a compounded return of 6% over 5 years. (that is 33.8% total)
Elite visa: 500,000 payment upfront + 33.8% of 500,000 =   669,112.   That is 11,152 baht per month.
Retirement visa: zero payment upfront + 33.8% of 800,000 = 270,400.  That is 4,507 baht per month
Of course I have oversimplified here, because I haven't included the fees for renewing the retirement extension each year,  and the original visa. (I don't know these details.)
If I do the same simple calculation for the 20 year visa.  (6% compounded for 20 years is 220.7%) I get the following:
Elite visa 3,207,000 baht or  13,363 per month
Retirement visa 1,766,000 baht or 7,357 per month.  
So it seems that at worst,  the 5 year elite visa is only about $215 (USD) more per month than a retirement visa, which could be worthwhile for many people.

Yes, either way is not ideal.

The Elite Visa is not for everyone. We all have our own budget, savings and income streams.

I just decided I will be willing to overpay for convenience.



Sent from my iPhone using Tapatalk Pro

[shanleyesq11]

when i opened my bank account, i tired to get an investment account.  denied. i was under the impression its not allowed for farangs.  opened on soi bukow in pattaya

[Just Browsing]

4 hours ago, ocka said:

It's a bit of a "swings and roundabouts" situation.

With a retirement visa you are losing the return on THB 800,000 while with the Elite visa you are losing the return on 500,000.    The difference is that at the end of 5 years,  the guy on the retirement visa still keeps the 800,000, while the 500,000 for the Elite visa is gone.

I will have a go at the calculation,  considering a compounded return of 6% over 5 years. (that is 33.8% total)

Elite visa: 500,000 payment upfront + 33.8% of 500,000 =   669,112.   That is 11,152 baht per month.

Retirement visa: zero payment upfront + 33.8% of 800,000 = 270,400.  That is 4,507 baht per month

Of course I have oversimplified here, because I haven't included the fees for renewing the retirement extension each year,  and the original visa. (I don't know these details.)

If I do the same simple calculation for the 20 year visa.  (6% compounded for 20 years is 220.7%) I get the following:

Elite visa 3,207,000 baht or  13,363 per month

Retirement visa 1,766,000 baht or 7,357 per month.  

So it seems that at worst,  the 5 year elite visa is only about $215 (USD) more per month than a retirement visa, which could be worthwhile for many people.

If you travel outside of Thailand a lot (which I would be doing if I could) then you can add on...

• 3,800 for a Multi Re-entry permit
• 20,000 for fast track access via TLM (Only good for Swampy airport)
• 10,000 for airport lounge access (assuming you travel 10 times per year & it costs 1,000 per visit)  
• 8,000 for taxis to/from the airport (assumes 400 THB for a taxi x 10 x 2 (return), 24 single or 12 return trips are included in the 500K Visa) 

So that's an extra 3,483 per month, add in 8,900 for doing your extension (my Agent charges 7,000 service charge + the 1,900 extension fee which you won't need if you leave Thailand at least once in the 12 month period) and you're up to 4,225 which using your previous numbers...

• Elite visa: 500,000 payment upfront + 33.8% of 500,000 =   669,112.   That is 11,152 baht per month
• Retirement visa: zero payment upfront + 33.8% of 800,000 = 270,400.  That is 8,732 baht per month

TBH I think 6% is very optimistic since the 800K would probably from low/no risk investments (Given we talking about > 50s retiring to a foreign country so should have fast access to cash if needed) & there's probably tax to be paid so I think 2-3% is more reasonable which makes the numbers closer if not in favour of the TE.

I do agree with the OP that the 20 (21.5) year 1 Million THB offers better value.