Thai Elite 20 vs 5 year, Thoughts?

[JLCrab]

6 minutes ago, bkk6060 said:

For 1 million b you can buy a decent condo in Pattaya.

Sure but the downside to that is you now own a condo in Pattaya.

[elviajero]

If it’s affordable and you’re committed to Thailand then the 20 year membership is a great option. I wouldn’t think twice at your age, unless married to a Thai.

[farangx]

21 minutes ago, scubascuba3 said:

At 36 I'd get the 1m 20 year elite if you're ok with spending the money. It will avoid years of hassle with visas, border runs, extensions, anxiety at borders etc etc

Plus the added bonus of no retirement extensions for at least 6 years, ie. no seasonings of 800K, no bank statements, no income statements or affidavits, for 6 years. ????

[tpkhk]

Seems like all angles have been covered - just want to add, while you have a TE visa, if you do decide to take up employment / start a business - you can apply for a Work Permit / Non Immigrant (B? or other category).  The TE will remain in your passport but unused.  The clock on the TE would continue to tick away towards expiration date.  You are still entitled to TE services - fast track etc. but all subsequent entry/exit out of the country would be on your Non Immigrant Visa.  If you decide to cancel the Non Immigrant Visa/Work Permit, you'd then have to make a trip to Immigration or when flying back into Thailand specifically request that the entry be recorded on your TE visa.  Best of luck, good that you have the money to allow the freedom of choice...ie. TH or elsewhere, TE or other means.

[Mavideol]

20 hours ago, MehrK said:

I'm not sure if url's are okay on this forum as I'm new, but here is the link for them:

 

20 year for 1m version: https://www.thailandelite.com/at-your-service/card/elite-superiority-extension-membership?locate=en

5 year for 500k version: https://www.thailandelite.com/at-your-service/card/elite-easy-access-membership?locate=en

 

Hope that helps!

20 years = 1 million is around 49,500 baht a year (more or less at the current exchange rate) yearly extensions of stay maybe cost much less.... if one is "" However, I'm a sucker value """" it's a little confusing

[Mavideol]

10 hours ago, KittenKong said:

My yearly retirement extension takes me well under one hour to obtain and costs me just 2000B (including photos and photocopies). It is nothing even remotely like a hassle. In fact I would say that a normal weekly trip to the supermarket is much more of a hassle and takes longer.

same here, 1,900 baht +100 the IO doesn't return = 2,000 and it takes me 30-40 minutes at the office to complete the renewal, no hassle at all.... hassle is going to Tesco

[ubonjoe]

11 minutes ago, Mavideol said:

20 years = 1 million is around 49,500 baht a year (more or less at the current exchange rate) yearly extensions of stay maybe cost much less.... if one is "" However, I'm a sucker value """" it's a little confusing

In OP's case he is not eligible for any extension. 

If he was using tourist visas he could easily spend the 49,500 baht doing visa runs and etc to stay here.

[simon43]

I'm touching 60 years old, have the 5 year visa for the same reasons as others 50+ have stated - I HATE dealing with Thai immigration (previous bad experiences etc), and now enjoy being ushered through immigration whilst waving my middle finger (metaphorically speaking of course!).  The included limo service is a nice touch as well.

 

When this visa expires in about 3 years I'll get another 5-year visa.

 

I'm not rich (was once!).  I'm an English and Science teacher and make very regular trips between Thailand and Myanmar for education, charity and hobby (ham radio) reasons. Despite teachers often being called 'paupers' by some forum members, I manage to afford this Elite visa, plus own a newish car and have 5-star private medical insurance (guess my priorities don't include expensive women, cigarettes and beer...)

[Percy Penguin]

You still have to do 90 day reporting with the TE visa, right? Anyway I thought the hassle the OP had in mind was more that after a few years of doing 9 months out of 12 in Thailand, you're going to be getting the fear as soon as you hit the tarmac. That's what you buy your way out of with the TE card, I'd say.

 

I only do 180 days a year so think I can get away with tourist visas for a good few years, but at 9 months a year I can definitely see the point.

 

In the OP's situation I would go for the 5/6 year option and take the risk of the TE being withdrawn or the price being hiked in that time, but the real cost/benefit per year is close enough that I don't think the numbers will give you the answer. It comes down to personal preference IMO. I think you can justify either option, especially if you keep in mind that the equation changes when you hit 50.

[kmw]

I have a friend on the PE elite Visa, no need to do the 90 day report, they take care of it for you, I think by law its necessary but they have some kind of agreement with immigration so they do it for you,

Also the PE Visa once issued cannot and has not been revoked, from what I know thier are about 4900 people on this Visa currently, 

[baansgr]

Ive always been a supporter of Thai Elite since working for one of the guys that set it in motion. Prices were more expensive then....1 Mil for 20 years plus you get the benefits also, its a no brainer really...go for it !!!

[Myran]

1 hour ago, kmw said:

I have a friend on the PE elite Visa, no need to do the 90 day report, they take care of it for you, I think by law its necessary but they have some kind of agreement with immigration so they do it for you,

Also the PE Visa once issued cannot and has not been revoked, from what I know thier are about 4900 people on this Visa currently, 

I believe they can only do the 90 day reports for you if you stay in Bangkok.

[donnacha]

Some hesitate to buy the Elite visa because this is not a stable country, you have no idea how the national attitude towards foreigners may change over the next five years, whether new regimes will honor the visas, or even whether Thailand will remain a good place to live. Neither is anything guaranteed. Even with the 20-year, you are only given 5 years at a time, it is designed to give them flexibility in whether or not they honor it.

I have a more positive reason to hesitate. Most of the immigration hassles described in this forum did not exist before the army deposed the elected government in 2014. All the new crackdowns and red tape have been populist PR moves designed to give the impression that the army is effective, in the face of economic facts to the contrary. "Low-quality farangs" were a relatively easy scapegoat, especially as we were all supposed to be replaced by high-spending Chinese.

That has not worked quite as planned. Despite a constant flow of upbeat and imaginative statistics from the Tourism Authority of Thailand, it is broadly recognized within Thai society that it was a mistake to piss away the entrenched and reliable Western tourism trade they had built up over the past 5 decades, especially as the Chinese appear to be losing interest.

We have already heard credible reports that the easier, more flexible visas of pre-coup times may be returning. It makes a lot of sense economically, especially as competing countries become more adept at luring potential visitors away (God help Thailand if the Filipinos ever learn how to cook).

I am not so foolish as to think the Thais will do something because it is logical, but neither am I convinced that future governments will chose to retain the Army's tough stance against Western tourists.

Even the Army are showing signs of loosening up and trying to chase economic growth to make it easier to get elected when the time comes. 

So, I think there is a very good chance that we will soon return to the easy, six-month visas, extendable to nine months, and no need to provide bank statements, letter from employer etc.

We may be about to return to 2014 conditions. Buying an Elite visa, right now, may be jumping the gun. I would at least wait to see how the first few months of 2019 pan out.

Edited December 8, 2018 by donnacha

[Tom9999]

The question is not really 5/(6) years versus 20 Years.

If you can see yourself here or returning to Thailand regularly 6 years down the road from today then go for the 20 Year Visa.

In 6 years you still do not qualify for any other Visa, unless getting married to a Thai.

 

So if you are likely to purchase a second 5 Year TE Visa in 6 years then by purchasing directly a 20 Year Visa you get 8 Years "free".

This will bring you over the threshold of 50 years and you can continue on a Non O.

 

If you decide life is better somewhere else and you have a bigger earning power there then you can afford having paid for the Visa.

 

So ask yourself: Is it likely that I still want to spend a significant time each year in Thailand 6 years from now? 

 

PS:

I am over 50 and have a 20 Year PE Visa, purchased for 1 Million THB 2 years ago.

I can afford it, still working abroad and like being able to come and go like a local.

[Ctkong]

Hai mehrk, I would like to give my two cents worth of advice here. 

But first I would like some clarification from you. You mentioned that you are 36, earning enough passive income from home and single. You are not planning to earn some money working at the side. Have you thought about the future when you set up a family with somebody? I once was also free and easy. But now saddled with a family, the expenses seem to be flying off the budget. Do you think your passive income is going to be on the upward trend and able to cover future bigger expenses ? I have heard a number of hard luck stories of foreigners who had to cut short their retirement plan due to unforeseen circumstances like falling exchange rate, health insurance and bad investments. Always hope for the best and expect the worst. 

Assuming all are rosy , then I would like to give some information for my missus’s 20 year TE visa. My missus ( rather girlfriend) is a Myanmar chinese . She used to obtain various guises of visa be it Education visa, work permit for past 10 years. She is now 33. I find that the authorities are getting more and more stringent in the visa department.  It is a matter of time that they closed up all the loop holes for long stay here in Thailand. So I decided to buy her a 20 year TE visa. The cheaper version without the frills at 1 million baht. TE is a whollly owned company of TAT so it may be a statutory board of TAT?  I think TE is not going to disappear in future because the thailand government is committed to welcome ‘rich spending foreigners’ into their country. It is to their advantage to honor the contract too because the so called rich folks can relocate to any of the ASEAN countries if they wanted to.  Given the economic growth of the competing neighbors, there would only be more competition for quality tourists. 

90 days reporting can be handled by the TE office for Bangkok, chiangmai and Phuket areas only if I am not mistaken. Last week of the 90 days, passport must be submitted to the office on Monday or Tuesday and collected on Friday. 

You would also be given priority in opening bank account as well as credit card application.  Credit amount of credit card is collateralled with the fixed deposit you put in.  Platinum card can be obtained. 

Many posters had given the pros and cons of 5/20 years package so I would not dwell on that.

my final parting advice is if you can afford to part with 1 million baht with little pain, then it is the way to go. You will enjoy many years of convenience it provides. By the time 20 years( 21 years if use extension after the final year)  is up, you are already 56/57 so time to use retirement visa .

if you were to decide to cut short your stay in Thailand and had to write off the money invested in TE visa, I would think that the balance of the small amount is the least of your worries. You would have more important issues to deal with then. 

Life is a gamble. Who can foresee the future? But the price of the  5 years TE visa( though fully loaded)  is already half the price of the  20 years no frills TE visa. Take a gamble and roll the dice...

 

 

[aledale]

17 hours ago, BritTim said:

I have just one small contribution to offer. The five-year Elite visa actually gives nearly six years of stay if you do a border bounce just before the end of the fifth year. Of course, the other Thailand Elite privileges would not apply in the sixth year. If completely undecided, that might possibly swing the decision towards the five-year option.

Hi, I'm akso thinking to apply for the 5 years elite visa, but I'm 44 years old. Can i really get another 1 year extension if i go out and back before the expiration? So does the elite visa work like te metv?

Edited December 8, 2018 by aledale

[galt67]

10 hours ago, Myran said:

I believe they can only do the 90 day reports for you if you stay in Bangkok.

Free of charge, TE does the 90-day report in:

 

Bangkok

Pattaya

Phuket

Pattaya

 

Drop off your passport at their designated agent, and retrieve it a day or two later.

 

Excellent service IME.

[galt67]

5 hours ago, aledale said:

Hi, I'm akso thinking to apply for the 5 years elite visa, but I'm 44 years old. Can i really get another 1 year extension if i go out and back before the expiration? So does the elite visa work like te metv?

The TE does 'extend' one, single, year (12 months) when entering thus should, as the commenter stated, provide nearly 6 years on a TE five-year visa if entering just prior to its expiration.

[Mike Teavee]

7 hours ago, Tom9999 said:

The question is not really 5/(6) years versus 20 Years.

If you can see yourself here or returning to Thailand regularly 6 years down the road from today then go for the 20 Year Visa.

In 6 years you still do not qualify for any other Visa, unless getting married to a Thai.

 

So if you are likely to purchase a second 5 Year TE Visa in 6 years then by purchasing directly a 20 Year Visa you get 8 Years "free".

This will bring you over the threshold of 50 years and you can continue on a Non O.

 

If you decide life is better somewhere else and you have a bigger earning power there then you can afford having paid for the Visa.

 

So ask yourself: Is it likely that I still want to spend a significant time each year in Thailand 6 years from now? 

 

PS:

I am over 50 and have a 20 Year PE Visa, purchased for 1 Million THB 2 years ago.

I can afford it, still working abroad and like being able to come and go like a local.

Summed it up perfectly... 

 

I'm also over 50 (52), also work overseas (Singapore) & travel in/out 2-3 times a month so for the Fast Track immigration alone was humming & hawing over whether to get a PE 5 or 20 Year Visa for sometime. 

 

In the end I decided that I couldn't commit to living in Thailand for 5+ years (NB I love the place, so no bashing here) for a number of reasons:-

1. My parents are at "That Age" where I will find myself living back in the UK for a few years sooner rather than later
2. (Until 1 year ago) I was dating a Filipina (for 8 years), had a house in Davao but she refused to move to Thailand (actually why we split up)
3. (I hate to say it but) Other places are really starting to catch my eye (Vietnam is being a lot more open with it's Visas, Taiwan/South Korea are much closer in cost of living terms than they were 10 years ago). 

 

So in the end I hedged my bets & sorted out my 2 most important issues:-

1. Visa - Got a Non-O ME (50+) from Penang
2. Fast Tack Immigration - Got a Silver Membership with TLM (Thai Longstay Management, 20,000 THB per year) which gives me the same Fast Track Immigration benefits as the Thai Elite Visa but without the other perks (E.g. with TE you can use the Airport Lounges, already can/do as a perk of one of my Credit Cards).

... Some may say Number 2 is a waste of money, I say try transiting Swampy 4-6 times a month & you'll soon be queuing up to pay.

 

OP: If I was in your shoes, I would start off getting an METV and using the 9 months of actually "Living Here" to decide what to do next:-

• Border Bounce (New SETV or back home for new METV)
• Get an ED Visa
• Commit to the Thai Elite Visa
• Go park yourself somewhere else... 

 

Good Luck in whatever you decide & never forget you're in the very fortunate position of being able to have these choices ???? 

 

[KittenKong]

38 minutes ago, galt67 said:

Free of charge, TE does the 90-day report in:

 

Bangkok

Pattaya

Phuket

Pattaya

 

Drop off your passport at their designated agent, and retrieve it a day or two later.

You can also do it by post or online, as far as I know.

[KittenKong]

22 hours ago, Will27 said:

Not really.

There's plenty of people on here who use agents who do just that.

There may be a few but I doubt that there are plenty. In fact I dont actually know a single person who has a TE visa. I do however know dozens who have a retirement extension or who use an METV to stay here for 6 or more months of the year.

[Will27]

1 hour ago, KittenKong said:

There may be a few but I doubt that there are plenty. In fact I dont actually know a single person who has a TE visa. I do however know dozens who have a retirement extension or who use an METV to stay here for 6 or more months of the year.

I know several who are on retirement visas and use agents to arrange their extensions.

 

I reckon there would be heaps.

[KittenKong]

36 minutes ago, Will27 said:

I know several who are on retirement visas and use agents to arrange their extensions.

I do too, but not to avoid dealing with Immigration personally. All the ones that I know who use an agent do so to avoid the cash deposit requirement.

[BritTim]

2 hours ago, Mike Teavee said:

Visa - Got a Non-O ME (50+) from Penang

This surprised me. I had no idea Penang would issue multiple Non O (50+) under any circumstances. What were the requirements?

[MehrK]

22 hours ago, DrJack54 said:

Yes I noticed britim post earlier and he has very good point. Being 36 your could effectively do two 5+1 EV putting almost at 50. Then perhaps move onto the non o based on retirement. Gives you that nice flexibility after your first 5 yrs EV to reacess "how its all going with you".

You mention behaps live bkk as a base. I meet lot of xpats who often say " how do live in bkk"...point is I/we are there hardly ever more than say 10 days. Pick an area near bts or MRT with good access to both airports. Then enjoy Thailand and international trips. I often go to Saigon just for few days. I would have loved an EV but already being over 50yr but the cheapness of the non o was too much of difference. Think I'm jumping in britim camp that the 5+1 yrs might be best. However has anyone actually tested this yet. I don't think its been available for 5 yrs yet. Any updates?

True on this, even the time I spent here so far I realized I need to be directly attached to the BTS (and I now am) and I'm pretty darn close to BKK airport, which is super convenient. Thanks for your replies sir.

20 hours ago, farangx said:

Go get the 20 years and call this place home, forget about the 5 year.

 

You are young and mobile, why look at so far down the road.  You get that 20 years and looks like you will easily be living here the next 5 years.  If you want to live in another country after 5 or 8 years, then go live there, if you change your mind then come back here, a place you call home (this feeling is hard to beat).  Like I said you are young so you mustn't let that 20 year visa tie you down!

I very much like this idea. It's nice to know that even if I leave at any time in the next 20 years, I would be able to fly here and call this place home. I could even use it as a base to launch my travels from. Condo's are so cheap here that I actually wouldn't feel too beat up if I held my condo here and spent the summer months in Europe or South America, while still paying rent in Thailand either. Thank you.

19 hours ago, scubascuba3 said:

At 36 I'd get the 1m 20 year elite if you're ok with spending the money. It will avoid years of hassle with visas, border runs, extensions, anxiety at borders etc etc

Although I often would be flying out to go visit friends in nearby countries, etc., without the Elite, knowing that I HAVE to do it, deal with extensions and the anxiety involved with the potential refusal, is so lame. I've only dealt with that 1 or 2 times so far and was not feeling it. 

[MehrK]

18 hours ago, farangx said:

Plus the added bonus of no retirement extensions for at least 6 years, ie. no seasonings of 800K, no bank statements, no income statements or affidavits, for 6 years. ????

This is true, but man that is so far in the future it doesn't even feel like a real benefit to me at this point. From what I've read from those over 50, this is a pain in the butt though. Good point!

18 hours ago, tpkhk said:

Seems like all angles have been covered - just want to add, while you have a TE visa, if you do decide to take up employment / start a business - you can apply for a Work Permit / Non Immigrant (B? or other category).  The TE will remain in your passport but unused.  The clock on the TE would continue to tick away towards expiration date.  You are still entitled to TE services - fast track etc. but all subsequent entry/exit out of the country would be on your Non Immigrant Visa.  If you decide to cancel the Non Immigrant Visa/Work Permit, you'd then have to make a trip to Immigration or when flying back into Thailand specifically request that the entry be recorded on your TE visa.  Best of luck, good that you have the money to allow the freedom of choice...ie. TH or elsewhere, TE or other means.

Very interesting to know. I also did read that as a US citizen I can open a Thai company via the Amity treaty and can also WORK in it without the need for a work permit. It's a new statement that was released this year. https://www.sunbeltasia.com/news-page/30A4E136-E218-4E28-81E0-5495A2452390

16 hours ago, Mavideol said:

20 years = 1 million is around 49,500 baht a year (more or less at the current exchange rate) yearly extensions of stay maybe cost much less.... if one is "" However, I'm a sucker value """" it's a little confusing

Value as compared to the 5 year, not as compared to other cheaper non Thai Elite options. Sorry for the confusion!

16 hours ago, simon43 said:

I'm touching 60 years old, have the 5 year visa for the same reasons as others 50+ have stated - I HATE dealing with Thai immigration (previous bad experiences etc), and now enjoy being ushered through immigration whilst waving my middle finger (metaphorically speaking of course!).  The included limo service is a nice touch as well.

 

When this visa expires in about 3 years I'll get another 5-year visa.

 

I'm not rich (was once!).  I'm an English and Science teacher and make very regular trips between Thailand and Myanmar for education, charity and hobby (ham radio) reasons. Despite teachers often being called 'paupers' by some forum members, I manage to afford this Elite visa, plus own a newish car and have 5-star private medical insurance (guess my priorities don't include expensive women, cigarettes and beer...)

I also HATE dealing with immigration, and any anxiety regarding it. I rather just stroll through and be welcomed/catered to. I like your priorities by the way! 

15 hours ago, Percy Penguin said:

You still have to do 90 day reporting with the TE visa, right? Anyway I thought the hassle the OP had in mind was more that after a few years of doing 9 months out of 12 in Thailand, you're going to be getting the fear as soon as you hit the tarmac. That's what you buy your way out of with the TE card, I'd say.

 

I only do 180 days a year so think I can get away with tourist visas for a good few years, but at 9 months a year I can definitely see the point.

 

In the OP's situation I would go for the 5/6 year option and take the risk of the TE being withdrawn or the price being hiked in that time, but the real cost/benefit per year is close enough that I don't think the numbers will give you the answer. It comes down to personal preference IMO. I think you can justify either option, especially if you keep in mind that the equation changes when you hit 50.

Yes, still need to do the reporting. I think I'll often take a small trip out of the country  instead of do the 90 day reporting anyway. Especially if departure/arrivals are a breeze because of the visa. Being able to justify either option is why I'm in a bind haha! Thank you for taking the time to respond.

15 hours ago, kmw said:

I have a friend on the PE elite Visa, no need to do the 90 day report, they take care of it for you, I think by law its necessary but they have some kind of agreement with immigration so they do it for you,

Also the PE Visa once issued cannot and has not been revoked, from what I know thier are about 4900 people on this Visa currently, 

By PE Visa once issue it cannot be revoked. This is nice to know. Do you mean the 5 year visa they place in my passport every 5 years? What about if I purchase the 20 year, and they cancel the program somewhere in the middle, think they'll provide me the rest of my future 5-year visa papers or they'll just let me ride out the current one and thats it?

[MehrK]

11 hours ago, donnacha said:

Some hesitate to buy the Elite visa because this is not a stable country, you have no idea how the national attitude towards foreigners may change over the next five years, whether new regimes will honor the visas, or even whether Thailand will remain a good place to live. Neither is anything guaranteed. Even with the 20-year, you are only given 5 years at a time, it is designed to give them flexibility in whether or not they honor it.

I have a more positive reason to hesitate. Most of the immigration hassles described in this forum did not exist before the army deposed the elected government in 2014. All the new crackdowns and red tape have been populist PR moves designed to give the impression that the army is effective, in the face of economic facts to the contrary. "Low-quality farangs" were a relatively easy scapegoat, especially as we were all supposed to be replaced by high-spending Chinese.

That has not worked quite as planned. Despite a constant flow of upbeat and imaginative statistics from the Tourism Authority of Thailand, it is broadly recognized within Thai society that it was a mistake to piss away the entrenched and reliable Western tourism trade they had built up over the past 5 decades, especially as the Chinese appear to be losing interest.

We have already heard credible reports that the easier, more flexible visas of pre-coup times may be returning. It makes a lot of sense economically, especially as competing countries become more adept at luring potential visitors away (God help Thailand if the Filipinos ever learn how to cook).

I am not so foolish as to think the Thais will do something because it is logical, but neither am I convinced that future governments will chose to retain the Army's tough stance against Western tourists.

Even the Army are showing signs of loosening up and trying to chase economic growth to make it easier to get elected when the time comes. 

So, I think there is a very good chance that we will soon return to the easy, six-month visas, extendable to nine months, and no need to provide bank statements, letter from employer etc.

We may be about to return to 2014 conditions. Buying an Elite visa, right now, may be jumping the gun. I would at least wait to see how the first few months of 2019 pan out.

Thank you so much for your up to date and well thought out view on this Donnacha.  You brought up a lot of points that have me thinking. 

 

I did see the news article about them considering making things easier regarding SETV's being multiple entry, and easing up the land border crossings to unlimited. I do wonder how this will pan out. Wouldn't them making things more relaxed in this sense, also be a sign of them following through and NOT removing the Thai Elite visa? Even if they made things more relaxed with 6 month visas and SETV's, there would still be some value in the Thai elite Visa (though not as much as if things got tighter on the tourst visa side).

 

However, we are so close to Q1 2019, it might make sense to see if there is any movement on these potential new guidelines. Very interesting.

 

Also! I'm half Filipino and I can assure you, they never will learn how to cook ???? JK. There are better restaurants there now, but at high prices. Local food will never get better in Philippines. 

 

 

[tpkhk]

I too got excited over the same post from Sunbelt - ran it by a lawyer who is active in this field - who said NO WAY it would fly (ie. legally permit employment for a foreigner without a Work Permit for an Amity Treaty company).  I was the fourth or fifth person to quote the same article.  Sunbelt is credible - wonder what they themselves say now.

 

10 minutes ago, MehrK said:

Very interesting to know. I also did read that as a US citizen I can open a Thai company via the Amity treaty and can also WORK in it without the need for a work permit. It's a new statement that was released this year. https://www.sunbeltasia.com/news-page/30A4E136-E218-4E28-81E0-5495A2452390

 

Also, on another matter - the 90 day reporting - each time you travel & return back, that 90 day clock starts ticking.  With the amount of travel you do, you'll probably rarely have to go in person &/or even hand it to TE for processing.... unless you stay here for 89+ continuous days.

[Mike Teavee]

 

2 hours ago, BritTim said:

This surprised me. I had no idea Penang would issue multiple Non O (50+) under any circumstances. What were the requirements?

I didn't deliberately apply for an ME & was also surprised when I got one but when I was chatting with the girl (Banana Visa) who was filling out the form I mentioned that I was still working in Singapore so travelling in/out a lot, so she just ticked the Multi-Entry box.

 

I took:-

• Bank Book & Letter showing > 800,000 THB in Bangkok Bank account
• Letter of Income from the British Embassy (I'd read that Penang wants to see evidence of some income irrespective of the 800K in the bank so I got this from the British Embassy using my SIngapore pay slips, obviously this won't be possible from next week) - She was very insistent that she took the original of this with her as she said the Thai Embassy will reject the application if they don't see it
• Evidence of my address in Bangkok (I used the Letter of Income as evidence)
• Evidence of my address in Singapore (SP Services Bill) - Didn't really need this

 

Result was a shiny Non-O ME ???? 

 

 

 

[steve73]

Many good replies, so I'm not sure this post will be contributing anything else.

 

I'm 58, been here 12 years, initially using 12 month ME Non-O (no longer available), which I've since been extending once over 50 using the 800k in the bank (usually takes me a full morning for travel/bank/IO, so no real hassle - yet!).. I usually keep just over 800k all year round as my "emergency" slush fund, and keep it topped up whenever the GBP rate looks favourable (using Transferwise).

 

I recently ran a DCF model to compare the 5(+1), 20(+1), against my current method. In summary,  (@10%) the 800k is discounted to "virtually" nothing after 21 years, and the other annual costs make it broadly similar to the 1MM cash up-front cost.  4 (or even3) x 5(+1) is less value.  

So my conclusion was I'm happy to proceed the way I am since the benefits of having some readily available Thai baht offsets any slight economic advantage.  I don't have Health Insurance (too many preconditions), but if I was to run down my 800k throughout the year, then this might be slightly more in my favour.

 

BUT, for the OP at age 36, the retirement extension (RE) option is not available, and the decision is perhaps easier.  Unless getting married (and I have met a few older guys who have done this simply to be able to get the "RE" cheaper), the Elite is the only way to stay here long term hassle free.  

 

At 36, the option of 20(+1) and then RE is slightly more expensive than 5(+1) x 2 (almost, followed closely by a RE, or even 5(+1) x 3 then RE, but in reality, the cost difference is marginal, and the other benefits (that may of may not be of value to each individual), makes it difficult to accurately compare.  Also, the investment returns you can achieve on the other 1/2MM for the first 6 years makes a huge difference.

 

But at 36 with adequate resources to provide "income" without working here, does suggest money is not really a consideration.

 

Also, since we don't know what the future holds, nor when (& by how much) price increases of either the Elite or RE's will occur, these unknowns cannot be fully evaluated.

 

My suggestion to the OP would be to go for the shortest commitment. 

After all, in 6 years time Thailand MAY have changed beyond all recognition, and perhaps none of us will want to be here.

 

I wish the OP good luck whichever way you decide, (and part of me wishes I was in your position 22 years ago)..