Thailand hikes price of 5-year visa as foreigners seek COVID haven

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Thailand hikes price of 5-year visa as foreigners seek COVID haven

Residency program aims for profit in 2 years on surge of Chinese applicants

JASON TAN, Contributing writer

 

A 20% price hike on the popular visa is set to go into effect in January. (Photo by Ken Kobayashi)

 

BANGKOK -- Thailand plans to raise the price of its bestselling five-year residency permit by 20% in January, after the program dubbed "elite" visas drew record new memberships this year as people sought to stay in the largely coronavirus-free country.

 

Starting Jan. 1, the Easy Access -- one of the nine elite-visa packages -- will be offered for 600,000 baht ($19,850), up from the current 500,000 baht, according to Thailand Privilege Card, the operator of the elite visas.

 

Thailand Privilege Card, a company under the Tourism Authority of Thailand, added 2,674 members during its fiscal 2020 ended in September, a 24.8% increase. This brought in fees of 1.6 billion baht, or nearly $53 million. Over 60% of the new members were Easy Access holders.

 

Full story: https://asia.nikkei.com/Economy/Thailand-hikes-price-of-5-year-visa-as-foreigners-seek-COVID-haven

 

-- © Copyright Nikkei Asian Review 2020-12-02

 

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[bodga 7,217]

thats it  just keep  increasing everything and then wonder why no ones  coming later

[Thailand 18,641]

Many Chinese are leaving, so what surge?

[quake 1,198]

I know what they can do with there visa. 

forum rules prevent any further comment. 

 

[petermik 17,272]

This pesky Government taking advantage of foreigners once more...who would have thought

[EricTh 2,909]

I predict the requirement for the retirement extensions will also be increased in the future along with the strengthening in baht currency.

 

Too many foreigners want to come to Thailand to live. Where there is demand, there will be a price increase.

Edited December 2, 2020 by EricTh

[Natai Beach 2,161]

Just now, petermik said:

This pesky Government taking advantage of foreigners once more...who would have thought

only 60 baht per day. Nothing that us elites will worry about.
A pack of peanuts.

[Jingthing 69,946]

8 minutes ago, Natai Beach said:

only 60 baht per day. Nothing that us elites will worry about.
A pack of peanuts.

What's 60 baht a day?

[Natai Beach 2,161]

9 minutes ago, Jingthing said:

What's 60 baht a day?

A pack of peanuts. And the increase cost of this visa. 
 

Probably will get a lot of people complaining about it, people who don’t have it, but I doubt the elites will be writing in about it.

[Jingthing 69,946]

2 minutes ago, Natai Beach said:

A pack of peanuts. And the increase cost of this visa. 
 

Probably will get a lot of people complaining about it, people who don’t have it, but I doubt the elites will be writing in about it.

Oh I thought you were referring to the total cost. I agree if you're willing to pay 500k you'll pay 600k.

[Captain_Bob 1,753]

Thai gov't again revealing its black hearted contempt for farang. Jai dam. 

[Mr Meeseeks 4,197]

"Thailand Privilege Card had a cumulative loss of 555 million baht as of fiscal 2019. The price increase for the cash cow package comes as the company aims to reach a profit within two years."

 

 

Over half a billion Baht loss last year alone. Just let that sink in...

 

Yet they keep on trying to con people into buying it. 

Edited December 2, 2020 by Mr Meeseeks

[ChakaKhan 2,938]

44 minutes ago, Natai Beach said:

only 60 baht per day. Nothing that us elites will worry about.
A pack of peanuts.

may I have a peanut dear sir?...penny for the poor Guv'ner????   

[Somtamnication 23,591]

Makes sense to me! Back during the tsunami recovery period of 2005, hotel prices went up in Phuket!

[ThailandRyan 16,872]

27 minutes ago, Mr Meeseeks said:

"Thailand Privilege Card had a cumulative loss of 555 million baht as of fiscal 2019. The price increase for the cash cow package comes as the company aims to reach a profit within two years."

 

 

Over half a billion Baht loss last year alone. Just let that sink in...

 

Yet they keep on trying to con people into buying it. 

I wonder can they file Bankruptcy like Thai Airways or are they a State owned entity.  If the can file bankruptcy then those with the elite visas may be in for a rough ride.