Property developers eye Elite Card residence scheme, amid interest from nationals of China, Hong Kong, Germany

Around 20 development companies have shown interest in an Elite Visa scheme that offers residency to foreign investors. Of those, Sansiri, Nusasiri, Four Seasons, and Raimon Land have confirmed they will join the programme that offers 5-year residency to foreign nationals who invest 10 million baht in condos.

Thai media reports also indicate increasing interest in the scheme from nationals of China, Hong Kong, and Germany. The programme, called the Elite Flexible One, offers residency of 5 years, extendable to 20 years, for 500,000 baht. There is a 2-year application period, running from January 1, 2021 to December 31, 2022.

Earlier this month, Thailand Privilege Card, which sits under the Tourism Authority of Thailand and runs the Elite Visa programme, confirmed it would increase the fee associated with its most popular offering, the Easy Access visa. From January, the price of this visa will increase by 20%, to 600,000 baht.

SOURCE: Thai Visa | The Bangkok Insight