There are many types of long-term residence visas in Thailand, including pension visas, study visas, work visas, elite visas, and ten-year long-term residence visas.
Among them, the elite visa and the ten-year long-term residence visa are currently popular choices, not only can one-time obtain a long-term residence status of 5 years or more, but also enjoy many privileges, which are favored by the Chinese.
So, what is the difference between the two visas, and how should you choose?
01
Thailand Popular Visas
Elite Visa
The Thailand Elite Visa was launched in November 2003 and is a privileged visa issued by the Thai government for high-end elites. You only need to invest 500,000-2,000,000 baht, and you can get a 5-20 year long-term residence visa in Thailand for a single person or a whole family.
Elite visa privileges:
★ Free access to Thailand, unlimited round trips;
★ Express entry VIP customs clearance service at Thailand International Airport;
★ Members' exclusive airport VIP lounge;
★ Luxury car pick-up and drop-off, full-time driver attentive service;
★ 24-hour customer service center to assist with travel, play, car reservations, etc.;
★ Get assistance in business activities, Thailand driver's license application, etc.;
★ Enjoy member discounts and VIP services in more than 100 shopping malls in Thailand.
10-year long-stay visa
The ten-year long-term residence visa in Thailand was officially issued on September 1 this year (more than 400 people have applied for it in just ten days), which is a new visa launched by the Thai government. Live and work in Thailand to help promote Thailand's post-pandemic economic development.
Ten-year long-stay visa privileges:
★ Renewable after 10 years;
★ Exemption from the 4:1 foreigner employment quota;
★ Express entry VIP customs clearance service at Thailand International Airport;
★ The 90-day report has been changed to be able to report once a year;
★ Scheduled to work in Thailand and apply for a digital work permit;
★ Only 17% personal income tax is levied;
★ Enjoy one-stop visa and work permit docking services.
02
Elite visa vs 10-year long-stay visa
for the crowd
Elite Visa:
Entrepreneurs with business travel needs;
Applicants who want to live/retire in Thailand for a long time;
Investors who want to allocate overseas status at a lower cost;
Long Term Residence Visa:
Global high net worth individuals;
wealthy retirees;
highly skilled professionals;
Professionals working remotely online;
TIPS: Elite visas are suitable for a wide range of people. Long-term residence visas have specific wealth, investment or human capital standards for applicable groups, and are suitable for high-net-worth individuals with high value to the Thai economy.
Application conditions
Elite Visa
There are no age or educational requirements, and an investment amount starting from 600,000 baht is sufficient.
Thailand Long Term Residence Visa
In the two years before the application, the average monthly income of the individual is not less than 80,000 US dollars.
(Different groups have specific requirements, please see below for details)
TIPS: Thailand elite visa threshold is relatively low, suitable for a wider range of people.
number of people
Elite Visa:
Three generations of a family apply, the main applicant can bring immediate family members, and there is no age requirement for children.
Thailand long-term residence visa:
Main applicant + parents + children, the total number should not exceed 5, and the children should not be more than 20 years old.
TIPS: Elite visas can bring more family members, and the age requirements are more relaxed.
Documentation requirements
Elite Visa:
Scanned copy of passport document;
Electronic photo of personal certificate;
Application form signature.
10-year long-stay visa:
asset documentation;
bank flow;
an insurance policy that meets the requirements;
investment documents;
Additional Supplementary Documents.
TIPS: Thailand's elite document requirements are simple, and the ten-year long-term residence visa has strict requirements on the applicant's assets, income and investment. In terms of application conditions and success rate, the elite visa has more advantages.
Cost-effective
Elite Visa:
Single card 5 years / 600,000 baht, 10 years / 80 baht, 20 years / 1 million baht;
Family card 5 years/50+30n (n is the number of dependents) baht, 10 years/80+70n baht, 20 years/100+100n baht.
Long Term Residence Visa:
Application fee: 50,000 baht per person, up to a family of 5 apply;
Investment fee: Global high net worth individuals invest US$500,000, wealthy retirees do not need to invest (monthly income of US$40,000 to US$80,000 is required to invest US$250,000), and there are no investment requirements for the other two categories.
TIPS: Thailand elite visa investment funds are donated to Thailand and are all expenses. In addition to the application fee for a ten-year long-term residence visa, other investment funds are still in the applicant's name. In terms of net investment cost, Thailand 10-year long-term residence visa is more cost-effective;
freedom of work
Thailand Elite Visa:
cannot work in Thailand, only as an investor;
10-year long-stay visa:
You can work in Thailand, and you can also carry out investment activities such as buying a house and land.
TIPS: Thai elite visa holders who work in Thailand can only apply for a work visa after finding a job, but ten-year long-term residence visa holders have no such restrictions and have a higher degree of freedom;
Convenience of children's education
Thailand Elite Visa:
It cannot be used for children to study.
10-year long-stay visa:
Children can be educated in Thailand.
TIPS: Thailand elite visa cannot be used for children to study. If you want to study abroad, you must apply for a study visa. In contrast, long-term residence visas are more suitable for families with educational needs;
The above are some of the differences between the elite visa and the ten-year long-term residence visa. Which one to choose depends on the applicant's investment willingness, financial liquidity level, time preference and family size.
In the case of clear needs, combined with the advantages/differences of the two visas, choose the most cost-effective visa type that suits you.
If you want to know more about Thailand's [Long Term Residence Visa] and [Elite Visa], please call or send us a private message. Xingyunhai International will provide you with "private customization, exclusive service", welcome to inquire!
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