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TAT latest: Elite card holders who buy a condo can stay "long term" and get work permit - but there's a catch

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4 hours ago, Bangkok Barry said:

Rich people would have no interest in Thailand as they want first class facilities, first class infrastructure, a safe and secure environment, a stable political and business situation (ie their business won't be commandeered by the locals if it becomes too successful), impeccable service, a safe and secure legal system. All too often Thailand provides none of these things. Rich people who want sunshine and clean beaches already have their havens around the world, and Thailand has missed that boat by at least 50 years.

This is just nonsense! Sorry. But there are many, many rich expats who live here.

 Maybe you need get out and about more!

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Lets have a poll, how many on this thread actually have a million spare to invest somewhere?

 

No dreamers or moaners please.

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i have heard that such a scheme was being kicked around within the Thai Government (and within TAT) for several weeks now.

My understanding is that the original proposal was that  an investment of this amount  would offer some sort of "fast track" through to eventual PR. However there has been a degree of opposition to this from the more conservative wings of the current Govt. Pretty much like a replay of the early Thailand  Elite days; ie with the original promise of the right for holders to own land in Thailand. This was subsequently withdrawn due to  opposition.

I believe that the proponents of this (current scheme)  realize that, in order for it to be significantly attractive to the wealthy people that they wish to attract, then a route to PR needs to be on offer. Not just a WP. 

We shall see where this ends up! 

Edited by wordchild
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13 hours ago, Misterwhisper said:

And Bill never came, let alone settled and invested here. Nor did Tiger Woods, another "Elite Card" laureate courtesy of the "Square Faced One". Bummer.

Bills got a decent 30million dollar property in whistler, Canada for short breaks. 

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5 hours ago, madmen said:

You are in lala land if you think your gonna buy a million dollar condo  bigger than 50sqm in your 1st class uetopias. You missed that boat by 20 years. 

Amazing how out of touch with reality some people are. A million is not much these days when it comes to home ownership 

You’re high if you think that all a million will afford is 50sqm.  You could get a much larger condo than that (on the water) and have plenty of money left over for a lazy boy and spelling lessons.

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1 hour ago, wordchild said:

The whole point of this scheme is exactly NOT to attract people who need to work. As someone suggested above this is attractive to wealthy individuals who already have significant assets and income OUTSIDE Thailand who might find the ultimate lure of PR in a Tax Friendly jurisdiction worth investigating . 

My assets are coming from outside Thailand aswell.

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Not sure if it’s been said but 

1. why elite card holder would want long stay visa when they already have 20 year visa 

2. If I invest 1 million dollars that means I have a few million more, so why would I need WP and why would I want to work?

3. Why would I pay 1 million dollars when I get 20 year visa for 30000 dollars ?

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13 pages of I know these rich people and I know those rich people. 

 

What a major eye rollorama

 

At the end of the day this proposal is nothing more than a fantasy and just like with elite visas time will tell. 

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Most people who get rich enough to play in this league, did so by knowing the difference between a good investment and a loss-maker.

 

You don't have to be a genius to realise that Thailand is currently awash with empty tourism-related real estate. It's also a matter of fact that Thai property owners have bad habit of leaving property empty rather than dropping their prices to meet the market, so there's unlikely to be a near-term fire sale of condos at bargain prices - at least until the banks close in. However as happened in Spain and Ireland a decade ago, the banks don't like to foreclose if it's going to force them to acknowledge a loss - 'non-performing loans' - are much easier on their balance sheets.

 

So few early property bargains, but a lousy long term outlook - who would want to buy into that?

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With the domestic tourism shortfall being a little over a trillion baht, 24 billion baht is less than not much. Add to this 1.5 trillion shortfall for international tourism and you’ve got what I’d call a dire situation. 

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Cost between one and two million 😂😂 I just want to slap him,.What about those living their 24/7 and what about those who own land and houses already  .... condos are outdated as are the government puppets ,how many families live in a condo ? Whenever I’m having a bad day,I’ll log into my account 99.9% there’s a story that amuses me 

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