Answered4 years ago
Should I accept a free 20-year Elite Visa or keep my current visa in Thailand?
Hypothetical: If you were offered a free 20 year Elite Visa would you decline it to keep your current visa? If so, why?
Answer summary
The discussion revolves around the hypothetical choice between accepting a free 20-year Elite Visa or retaining an existing visa. Responses vary, with some expressing enthusiasm for the Elite Visa due to its long duration and cost savings, while others are concerned about its limitations, including restrictions on work and permanent residency. Several participants suggest the possibility of holding the Elite Visa while applying for other visas, like work permits. Concerns are also raised about future visa stability and whether the Elite Visa or the newer LTR visa provides better long-term options. Ultimately, opinions reflect a mix of personal preferences and considerations regarding the evolving visa landscape in Thailand.
44 repliesnewest first
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Jo **********
no
Mark ******
Nope, I'd accept it in a flash
John *******
I need to read the fine print first the old 2 card trick iam asking for a friend 🤣🤣🤣
Robert ********
Specious
John **********
Sure if I were under 50 but I'm not
Todd *********
Saves you 2.2 million baht in fees…. If you are going to be in Thailand a lot, why not. If not, who cares?
But I can’t see any value in retaining your current visa, whatever it is.
But I can’t see any value in retaining your current visa, whatever it is.
Rob **********
@Todd ********
only 1 million baht fee for the 20 year Elite visa, a friend of mine just got one very recently.Todd *********
@Rob *********
only 50k fee for a ten year LTR. So 100k for 20 years. Sounds better than a million to me.
Chris ****
OP@Todd ********
I owe you Todd. Spoke with many visa agents and expats. You came through with actual experience and astute assessments. Khap khun mak Khrap!Todd *********
@Maz *******
I don’t think sharing tax returns is vital, but if needed to support an application, I would not be concerned with their security on their system. I just kinda threw everything at them. (Not tax returns) but all kinds of income streams. Pension, rental income. investment income etc. I’m really not sure what was accepted and what was rejected. They just send you an ‘approved’ notice. And then make an appt.
If you had concerns about the tax return, I do believe they would offer you an appt to bring the papers if you prefer. They seemed to have a lot of people in the offices for explanation and discussions
Chris ****
OP@Todd ********
Todd you have been very helpful. Question: would you share your tax returns if asked? And would you do in person if that was an option?Rob **********
@Todd ********
absolutely correct 👍Todd *********
@Rob *********
you also. Enjoy it all. Still a fantastic country to call home at this point! And brilliant travel opportunities from here also.Rob **********
@Todd ********
ok good on you, wish you well with it all.Todd *********
@Rob *********
who cares what i do in ten years time? I have a decade to enjoy never going to immigration. Goodness. I don’t even know what I’m doing in 10 hours let alone 10 years. Immigration just does what they are told. Like any govt department. Whether they love it or hate it is irrelevant.
If I’m still keen to live in Thailand in 10 years, then I will use whatever happens to be in place. Just like you. It already has all worked out…
Rob **********
@Todd ********
so what do you do in 10 years time? Or in the meantime if the BOI cancel the program, which can happen if they choose too, as this visa has nothing to do with immigration, in fact immigration are totally against it, according to our neighbor who is head of immigration in Phetchaburi province. Hope it all works out for you.Todd *********
@Rob *********
same for my retirement visa extensions, but i never need to go to immigration, never need to report, get free unlimited re-entry and fast track at the airport. All for 3100 baht extra per year. No brainer really.Rob **********
@Todd ********
I will stick to my Non O visa based on marriage, have been on this for years, only costs 1,900 baht for a yearly extension.Todd *********
@Maz *******
yes, many entering recession. Dividends could come under pressure, but blue chip companies protect them with their life. Governments struggling with inflation have massively raised interest rates from historic low levels and i would expect that trend to continue at least for another year or until inflation is controlled. Rental properties not in great areas will definitely also come under some pressure. I have an LTR visa, and BOI themselves do not know what the requirement will be in 5 years, but assured me it will be less onerous than the application process. If you still have the income or assets, the new 5 year will be issued at no additional cost.Chris ****
OP@Todd ********
many countries entering recessions. I expect companies will be lowering dividends, governments lowering interest rates and rental properties sitting empty. Interesting times…I’m tempted to go for LTR but I can’t predict what the BOI will accept as verifiable or accepted income now and 5 years from now. I think best is to go to BKK and meet in person for application. If I learn anything helpful I’ll come back and post.Todd *********
@Rob *********
right. It’s 10 years. 5+5. And they don’t even know yet what will be required at 5 year mark, but promise it will be basic. If the visa holder is having a tough time maintaining the requirements, it could be an issue for some people. But generally the requirements are all financial. Most people won’t be worse off 5 years down the road than they are today. And unlimited re-entry, and no need for reporting if you leave Thailand every 12 months.
My concerns are nil. They are working in conjunction with the govt on this. And along with O/X is now the best (and most convenient) visa in Thailand.
Rob **********
@Todd ********
the LTR is 5x5 years if you still meet all the requirements after your first 5 years is up, they will give you another 5 years. My concern there is it is run by the BOI, who seem to be making statements and promises that contravene the immigration act of 1979, especially on the 90 reporting aspect.Todd *********
@Maz *******
if they ‘close’ (extremely remote possibility as they are both fully govt sanctioned initiatives to recruit wealthy expats), those holding the visas will at least be grandfathered until completion. But there is really zero value in disabling either one. They are win, win for the country and the expatChris ****
OP@Todd ********
in 10 years the LTR might be closed…and Elite might not be available is my main concern.Chris ****
OP@Todd ********
Non O is now the OG visa...before giving up I want to be sure.Todd *********
@Maz *******
the OG visa is LTR now. But not sure what you are worried about ‘giving up’ to take a 20 year visa. I don’t see anything? 🤷♂️
Chris ****
OP@Todd ********
I’m happy to hear you say that Todd. Makes my decision easier.Todd *********
@Maz *******
I gotta think that looking out that far in the future won’t be a winning game. There are always new changes for sure, but people already here tend to be very well protected. There are lots of available options, especially for anyone over 50.Chris ****
OP@Todd ********
to your question about giving up I'm a bit concerned that if I need to swing back to non o from elite it would no longer be available. But I think the elite, if there were the ability to renew down the road I'd so that..but who knows what will be available to a 70 something year old with a lot invested into Thailand only to lose it over visa issues.Chris ****
OP@Todd ********
the LTR is not coming through as promised. Maybe as they learn and adapt (same as when the elite was first issued - originally the elite was going to allow you to buy land and get work permit..neither came to pass ruffled some feathers but worked itself out). The LTR is too new to be referred to as an "original gangsta" given it came out in September unless you are referring to the early days OA?Todd *********
Obviously has some options. Either way, Elite is the poor man’s LTR. Not a bad option
Gary ****
@Todd ********
1 million for 20 yr
Charles ********
Not enough detail...
Elite won't allow you to work or get permanent residency/citizenship. If you require working, or wanting to get PR then it would not be needed.
Now you can have elite and still get a different visa to use. So if you have elite, but then take a job you can get a work visa and switch to it, you can switch back to elite later.
Elite won't allow you to work or get permanent residency/citizenship. If you require working, or wanting to get PR then it would not be needed.
Now you can have elite and still get a different visa to use. So if you have elite, but then take a job you can get a work visa and switch to it, you can switch back to elite later.
Chris ****
OP@Charles *******
in FD I was told that the Non-O I'm currently on will become harder to get later in life. And that immigration has preference for Non-O because it's well sorted.
Adam *************
@Maz *******
ok thanksAdam *************
@Maz *******
hypothetically speaking how and or why would you be offered a free 20 year elite visa?Chris ****
OP@Adam ************
hypothetically = aka if cost isn't an issue "what then?"Which often muddies the elite Vs non O discussions beyond repair.
Charles ********
@Maz *******
the non-immigration elements of living here, any non-imm visa is better than elite. Elite is still classified as tourists visa in the small print of the law, and that can be a bit annoying. Elite simplifies the immigration process though a lot. A non-o need yearly extension and requirements... So if it's easy for you and guaranteed you can keep it for as long as you need, the non-o is probably better.
David ***********
No
Paul ********
Hypothetically, sure would 😎
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