What are the pros and cons of the 5 year Thailand Elite Visa?

@Chris ***************

There are many options and many situations. What works for one as the best is not the best for others.

Do you have cash flow or cash reserves? If you have cash reserves and parking some of it works AND you can pass the other requirements, then the "800,000 Baht" plan works.

If you have a pension or Social Security, then you have cash flow, but maybe not much in the bank. Then you can qualify by your monthly cash deposits. It can be a bit of chicken and egg to get the bank account to start this all off and build a track record. Also, some locations may or may not accept this method.

There is a middle way where you put up some % of the 800,000 and make up the other % with cash flow. This again may or may not fly with your specific location or person.

=======

If you have cash in reserve AND you can't qualify for the "Retirement Visa," then those options won't work.

If you have cash flow, then the Agent who arranges to fund you a qualifying account for the $2,000 fee, then this may be your best option. It may or may not be fully okay if you are not putting up your money. This would make this method risky in my opinion.

=======

If your hot buttons for a visa are long term security, then there is the Elite Visa. You have to have the reserve to do it, much like the 800,000 retirement visas, but you are not going to get the money back. This will only be a deal once you have died, and are there inheritors at that point?

Some of the age, documentation and other issues are easier with the Elite Visa. It may be worth the peace of mind to deal with this 5, 15 or 20 years if you have dementia or similar issues in your family. If so, you may want to secure your place before your ability to calculate and manage all the paperwork may become a problem.

If you are too young for the 800,000 age requirement, this may be a factor too.

I would suggest running the numbers for your specifics. Then which of the options are possible? Some may not even be possible, so what is left?

Of the possible options, which one is best for you and your desires?

If two or three options stand out, then do a pro and con list on each. Now they are on paper and it will be easier to see what is good for you.

You may add additional options, like retire to another country. That will mean your best Thailand deal will have to compete with the other country.

When I was teaching English in Japan and Korea, there were people that would work as tourists (not really legal). Then every 3 months they would swap houses. One of the houses would be in Japan and the other in Korea. The English students would find they have a new teacher every quarter.

I never did this myself, though. If you did something like this where you have two houses, one in Thailand and another country, you could hop back and forth. This assumes that the additional house cost is less than one of the legitimate visa options. This also is not foolproof. What if you become unable late in life to do all the moves from country to country? What if they change the rules at some point? In total, what is your comfort with the long term possibilities? If you get too tricky and get kicked out of a country, then your life may be upside down and your resources could take an unwelcome hit. Now you are old, and your plan is falling apart.

Nothing is for sure and it is general financial advice that as you get older your investments should be more for "holding value" and less about working to "increase value." A financial advisor will tend to move you out of aggressive investments to more boring ones as you get older. In the same way, as you look towards the later part of your life the idea that you might have a two or more country "travel and go" plan, may be affected by health and changing rules. If you are 20 years old, then this may be great, though. Travel and travel, seeing new things all the time. But if you have a bad hip, trouble to sit on a plane for two hours, and become forgetful, that can be a bad choice.

Take all of your possible options and choose from them. Consider the future and any specific issues to you. Are you married? Possibly going to marry? If you marry someone, will that open up a marriage visa?

Maybe you do marry and move to a marriage visa, but you got the 20-year Elite. There are not any refunds, so your possible option to marry and reduce your costs is not an option. If only you perfectly knew the future, this would be so much easier.

Do you qualify for all the requirements? Do some "what if" analysis? How is your health? How long do people in your family live? What is your plan for care as you get older? How can you perceive your current situation changing? How likely are you to leave and return to your home country? Are you going to inherit a significant amount of money?

There are more questions or constraints based on your specific data.

@Yunus ******

you won’t pay tax in thailand on taxable income in your home country

@Yunus ******

what tax?

And such a relief 😅

@Natalie *******

great news!

@Mick ******

I said The cost already$600aud

@Ulrik ********

sorry just done some research don’t think it’s something my lad could go for. Thank you

@Wayne ******

Perhaps a waste for you, but for others not so much. I am quite satisfied with my purchase.

@Richard *********

So it was you who got that elite visa 😉. No, good for you. I know at a young age it is more difficult to stay in Thailand longer time. So, if you got the money and don't mind giving a lot of it to the Thai government for the "privilege" of spending more money in Thailand, then I guess it works for you. Why not.

@Philip ******

if you are over 50 and qualify for a retirement Visa an elite Visa will not give you any additional advantages. An elite Visa is only for those who are younger than 50 and who want to stay here long term. That's one of the advantages of getting older here, the retirement Visa.

@Philip ******

it's a no-brainer. Retirement Visa. Will cost you 2,000 baht a year. I'm assuming that if you have the money to pay for an elite Visa then you can find 800k to park in a bank account for your Visa requirement.

@Philip ******

In that case: Don't waste your money. Staying in Thailand at 50+ is easy. Just deposit 800k THB in a Thai bank account (this money is and remains yours) and extend your stay again and again at a yearly basis for a mere 1,900 THB at each extension around. Or do the LTR for retirees, if you qualify and want less hassle and some perks.