The first step to successful investing is figuring out your goals and risk tolerance - either on your own or with the help of a Financial Advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
@Hoshi Fuyo I think the key thing here is working with a professional. Yes people have devoted their lives to making profits in the market, but those of us who haven't but are interested in investing can simply work with them.
As a former elite member it served me well before I came of age for a retirement visa. But note that visa isn't convertible inside the country once it expires even if you wish to take up the elite visa again. You have to leave the country and apply again for the visa you require. Now I am on a retirement visa I found doing the yearly extension with the 800k in the bank far easier than doing an extension on the Elite. You need to request a letter from the government via the elite team every year two weeks prior to your extension which I found a pain. But if you live in Bangkok and Phuket the elite team do it for you for a fee. Note you cannot work on the Elite visa. Also there is some misinformation on this video. You don't need insurance if you're on a Non O retirement visa but do for an O/A
A good visa but the cost is just way too high. Many other countries charge a lot less for a long term retirement visa and they appear to welcome expats much more because they are spending money in their country. I love Thailand and the vast majority of its people but in 2022 it seems the Thai Government is just making it more expensive for foreign expats to live long term and certainly harder to own your own luxury pool villa and the land. Expats need to know they will have total security when making very large property investments and not possibly lose the lot at age 65 years of age and over.
Hello Sara, Firstly, compliments to your new addition to The Thaiger and GMT. You are a great breadth of fresh air. Secondly, you did an excellent job with explaining the ELITE VISA to us in this video - I truly appreciate it and I am sure that I will reference it again when I need to explore additional VISA options for living in Thailand. All the best, Martin
If you are willing to pay the fee for the Elite Visa, then it's definitely worth it! I'm buying this visa for my mother in law, who is going to retire in Thailand and live with us. She's eligible for the Retirement Visa but can't be bothered with the paper work and time wasting bs with immigration.
The 90 day reporting is where the hassle is. Another is the current law not permitting purchase of land. Look to retirement programs in Europe where retirement visas come with purchase of homes. Malaysia with duty free importation of cars, etc.
Welcome Sara, your English is as good as mine. Very easy to understand everything you say. I think at my senior years I would be better off with a retirement visa. It also cost much less to obtain a visa and live in America.
Hi Sara, super informative. I like how you presented the facts without any bias. I think you have done unintentionally a better job advertising this, than ThailandElite ever did. For some this is really a great option. I would have to switch to retirement visa in a couple of years. If I practically cant touch 800K in the bank, I might as well pay 1M and be done with it.
Paying 1 million instead of just leaving 800k in the bank, where you at least can get a few percent interest and is yours in the end makes zero damn sense.
@@enterthenuttmeister Depends. Interest is practically zero, if your immigration office does not allow for a "fixed account". i.e. Bangkok. If it is yours, in the end, is another question. The odds depend on your age. For some of us it might make more sense then for others.
@@Stefan----- If you have your affairs in order I would say it's yours - or if you pass away whomever is in your will. But I'm not saying it doesn't serve a purpose. It does for sure. More the whole rather waste a million than have 800k on the bank thing. For me, I want to be able to stay longterm in Thailand, and I'm far away from retirement age and not interested in doing somewhat shady border runs and what not. I'm thinking of getting it since there is no real alternative at the moment for people WFH/Remote.
@@enterthenuttmeister I hear you. the lump sum upfront payment is really the biggest back draw. If they would levy a monthly "Tax" of say 5k instead of putting 1M down, this visa would be popular...
You said you can stay for "atleast five years straight" are you sure? Everything I've read says one year per entry which you can do a 3 month extension on before having to leave and re-enter.
20Y Elite Visa holder here. You don‘t have to leave after 1 year, you can also get a stamp at Immigration for 1900 Baht, but I personally prefer the roadtrip :-)
@@NorbertHurni Hi Norbert, Thanks for your reply. So the 1900 baht gives you another year and you can keep doing that for the life of your elite visa if you desire? Do you have to go immigration yourself or can you send an agent on your behalf? Thanks!
@@Jefe_Perro Last year we used an agent who set all up, but we still had to waltz in for an ultra short meeting at Immigration in person (no waiting, no lines). This year we step over to Laos (Friendship Bridge) - we usually do 1-2 international trips a year, so it never was a question before with the 1-year-stamps you automatically get.
Good information- terrible audio from the lav mic. Also I can hear doors being opened and closed in the background. Try telling everyone in the studio to stay quiet when shooting. If you have a producer on set they’re not doing their job very well lol
Good explanation of the visa itself, but I can't see many retirees going for this option. The perks of the visa, access to airport lounges, airport pickups ets seem geared towards the frequent business traveler, who in all likelihood has these benefits already if you are traveling business class. And if you have a million baht to drop, your most likely traveling business class.
@@ellvtv2314 Of course not but then I never claimed it would. It just seems the "extras" that you get with the Elite visa, are probably benefits that many of the targeted demographic for this visa already have. Those of us with long memories will remember a very similar visa being launched by Thailand way back in the noughties, it fell flat on its face back than as well.🙄
@@ellvtv2314 No and neither will the Thai elite visa. She provided incorrect information about the length of stay. It's one year plus possible 3 month extension per entry.
The Elite Visa is a simple option for those 45 years old or younger. The couple of people I know that have this visa love it. The 5 year option comes to about $280 USD/month at today's exchange rate. This needs to be looked at holistically in terms of the overall cost of living in Thailand. For many, the lower cost of rents for say, a condo, more than compensates for the cost of the visa. The other thing to consider is that you pay the cost up front and so you are making a 5 year commitment. A slight correction, an extension of an O or OA visa requires $800,000 baht in a Thai bank for 2 months before applying for the extension and then 3 months after and a minimum balance of $400,000 baht the remainder of the year. You can eventually switch to the income method which is $65,000 baht/month if you want to. Also, the costs of an extension are lower for those married to a Thai. In September Thailand is offering a 10 year visa that will compete with the Elite Visa for the same wealthy retirees.
You obviously arent aware of the other side of the story for retirees who can have a better deal using an agent to do it all for you for around 30k or less with not having to put your 800k up front.
@@vivabikerleo7546 Yes I am aware of it but I am uncomfortable using an agent. I am not alone in this. You are welcome to post your own comment informing people about agents. Also, agent fees buy you convenience but it is money that is gone every year. The 800,000 baht is still your money. If I can afford the 800,000 baht deposit then I save on the agent fees. It all depends on what you can afford.
@@Jefe_Perro You have to be 50 years old to qualify for a retirement extension of either an O or OA visa. The cost of an extension is 1,900 baht. There is some paperwork involved with the application and you have to apply yearly. I do it myself every year without problems. You can still get an Elite Visa if you are between 45-50 or any age for that matter. If you are over 45 though then you are paying 600,000 baht for a visa program that will extend beyond 50 when a normal extension is just 1,900 baht. I have seen comments from retirees well over 50 who have an Elite Visa and love it and have no regrets. It comes down to what you can afford and the visa process that suits you the best.
@@vivabikerleo7546 Economically, extensions using the monthly income method are the best deal. You deposit 65,000 baht/month into your Thai bank account and you can spend it down to zero every month. You are not keeping inaccessible money in the bank and you are not paying an agent fee every year. It is somewhat harder to manage but thousands of expats use this method.
Hello Sara, thanks for the details, but how I can find a reliable agent to apply for the elite visa❓️Please tell me how to contact when the next time I visit the Kingdom. I have more than 50 y.o with ฿800k฿ elite visa for the family is the same price. Are there any big differences in terms of benefits, unless paperwork ❓️Thanks
You had no mention about the various agency who charge around 30k and get a retirment visa without having to put your own 800k in the bank. It doesnt sound legal but apperentely it is🤔 So how can that be?
@@ellvtv2314 Hellooo? its also available to retirees... But why would they want to... When with 35k an agent can do it for you hassle free with not having to put any of your money in a thai bank. (this service isnt published on the visa information / condition but amazingly its legally available🥴🥴
What you're suggesting is illegal and absolutely silly to test Thai immigration. How are you going to prove you had 800,000 thb in a thai bank throughout the year? Are your schemers going to doctor this bank form too?
@@ellvtv2314 you probably miss understood me.... Let me tell it straight This is and has been going on for years and immigration is aware about it all. I was asking thaiger an explanation of how is this possible??
Hi , thanks for the good information , the money have to be payed all at one's or in terms , because I am not shore which visa is the best for me , 5-10-20 years , because I got a Thai wife for about 6+ years .and we think to move to Thailand in near future , from Australia.
If you're married to a Thai citizen I don't understand why you would consider this when you can get a marriage visa. There's no payment plan, you pay the fee in full upon approval.
@@tonyivanovski2687 No I'm not. I suggest you deal with an actual visa specialist in Thailand. If you're married to a Thai national and considering an elite visa you would greatly benefit from an informed consultation from someone qualified rather than youtube comments.
The first step to successful investing is figuring
out your goals and risk tolerance - either on your own or with the help of a Financial Advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
I think the pandemic have really taught
people the importance of multiple streams
of income, unfortunately having a job
doesn't mean security.
Successful people don't become wealthy
overnight. What most people see as a
lance wealth, a great career and luxury is a
result of smart work.
@Hoshi Fuyo I think the key thing here is working with a
professional. Yes people have devoted their
lives to making profits in the market, but
those of us who haven't but are interested in
investing can simply work with them.
@@frankdouglas1562 Alright, so you know anyone?
@@lilianazuluaga6504 Nope, not yet. But the search is on.
26 seconds minimal info of how to get one, 12 minutes story of all the benefits.. sounds like a commercial to me
Congrats on your new job at Thaiger Sara. You are doing GREAT
Thanks ZeroZ!
As a former elite member it served me well before I came of age for a retirement visa. But note that visa isn't convertible inside the country once it expires even if you wish to take up the elite visa again. You have to leave the country and apply again for the visa you require. Now I am on a retirement visa I found doing the yearly extension with the 800k in the bank far easier than doing an extension on the Elite. You need to request a letter from the government via the elite team every year two weeks prior to your extension which I found a pain. But if you live in Bangkok and Phuket the elite team do it for you for a fee. Note you cannot work on the Elite visa. Also there is some misinformation on this video. You don't need insurance if you're on a Non O retirement visa but do for an O/A
A good visa but the cost is just way too high. Many other countries charge a lot less for a long term retirement visa and they appear to welcome expats much more because they are spending money in their country. I love Thailand and the vast majority of its people but in 2022 it seems the Thai Government is just making it more expensive for foreign expats to live long term and certainly harder to own your own luxury pool villa and the land. Expats need to know they will have total security when making very large property investments and not possibly lose the lot at age 65 years of age and over.
Elite Visa sounds like a good option and great reporting !!
This was great information at a timely time for me. I thank you.
Glad to be of help, Brython!
Hello Sara,
Firstly, compliments to your new addition to The Thaiger and GMT. You are a great breadth of fresh air.
Secondly, you did an excellent job with explaining the ELITE VISA to us in this video - I truly appreciate it and I am sure that I will reference it again when I need to explore additional VISA options for living in Thailand.
All the best,
Martin
Thanks Martin! Glad we helped you out with understanding the Elite Visa better!
Excellent report Sara. Welcome to the Thaiger
Thanks Martin!
If you are willing to pay the fee for the Elite Visa, then it's definitely worth it! I'm buying this visa for my mother in law, who is going to retire in Thailand and live with us. She's eligible for the Retirement Visa but can't be bothered with the paper work and time wasting bs with immigration.
Depends on the person and how they value their time and money. Only certain people will understand the Elite Visa's value.
Good one and would love to hear a follow-up on the marriage visa and make this a series. 🙏
The 90 day reporting is where the hassle is. Another is the current law not permitting purchase of land. Look to retirement programs in Europe where retirement visas come with purchase of homes. Malaysia with duty free importation of cars, etc.
The original elite you could own land but that was eventually withdrawn and you had to sell the property. Yes the 90 day reporting is a pain
Welcome Sara, your English is as good as mine. Very easy to understand everything you say. I think at my senior years I would be better off with a retirement visa. It also cost much less to obtain a visa and live in America.
Thanks for the welcome, Dave!
Hi Sara, super informative. I like how you presented the facts without any bias. I think you have done unintentionally a better job advertising this, than ThailandElite ever did. For some this is really a great option. I would have to switch to retirement visa in a couple of years. If I practically cant touch 800K in the bank, I might as well pay 1M and be done with it.
Paying 1 million instead of just leaving 800k in the bank, where you at least can get a few percent interest and is yours in the end makes zero damn sense.
@@enterthenuttmeister Depends. Interest is practically zero, if your immigration office does not allow for a "fixed account". i.e. Bangkok. If it is yours, in the end, is another question. The odds depend on your age. For some of us it might make more sense then for others.
Thanks Stefan!
@@Stefan----- If you have your affairs in order I would say it's yours - or if you pass away whomever is in your will. But I'm not saying it doesn't serve a purpose. It does for sure. More the whole rather waste a million than have 800k on the bank thing. For me, I want to be able to stay longterm in Thailand, and I'm far away from retirement age and not interested in doing somewhat shady border runs and what not. I'm thinking of getting it since there is no real alternative at the moment for people WFH/Remote.
@@enterthenuttmeister I hear you. the lump sum upfront payment is really the biggest back draw. If they would levy a monthly "Tax" of say 5k instead of putting 1M down, this visa would be popular...
Not bad 🤙🏾 ,hopefully this is around in about 5 - 7 years time
i'm on the fence about getting one
You said you can stay for "atleast five years straight" are you sure? Everything I've read says one year per entry which you can do a 3 month extension on before having to leave and re-enter.
For 90 days agent will do it for you. To get one year stamp, my assumption is to fly outside and come back to get another year.
20Y Elite Visa holder here. You don‘t have to leave after 1 year, you can also get a stamp at Immigration for 1900 Baht, but I personally prefer the roadtrip :-)
@@NorbertHurni great. Thanks for the tip
@@NorbertHurni Hi Norbert, Thanks for your reply. So the 1900 baht gives you another year and you can keep doing that for the life of your elite visa if you desire?
Do you have to go immigration yourself or can you send an agent on your behalf?
Thanks!
@@Jefe_Perro Last year we used an agent who set all up, but we still had to waltz in for an ultra short meeting at Immigration in person (no waiting, no lines). This year we step over to Laos (Friendship Bridge) - we usually do 1-2 international trips a year, so it never was a question before with the 1-year-stamps you automatically get.
Very useful, thank you.
No problem, C H!
Last month I saw rep from Elite Visa with customer standing in line for economy and customer didnt look happy.
The whole thing is way too expensive
Hmm 4 months rent in NYC or 20 years in Thailand? That's a hard one.
Good information- terrible audio from the lav mic. Also I can hear doors being opened and closed in the background. Try telling everyone in the studio to stay quiet when shooting. If you have a producer on set they’re not doing their job very well lol
Good explanation of the visa itself, but I can't see many retirees going for this option. The perks of the visa, access to airport lounges, airport pickups ets seem geared towards the frequent business traveler, who in all likelihood has these benefits already if you are traveling business class. And if you have a million baht to drop, your most likely traveling business class.
Would flying business class allow you to stay in the Thailand for 5 years straight?
@@ellvtv2314 Of course not but then I never claimed it would. It just seems the "extras" that you get with the Elite visa, are probably benefits that many of the targeted demographic for this visa already have. Those of us with long memories will remember a very similar visa being launched by Thailand way back in the noughties, it fell flat on its face back than as well.🙄
@@ellvtv2314 No and neither will the Thai elite visa. She provided incorrect information about the length of stay. It's one year plus possible 3 month extension per entry.
Great video 👍🇹🇭
The Elite Visa is a simple option for those 45 years old or younger. The couple of people I know that have this visa love it. The 5 year option comes to about $280 USD/month at today's exchange rate. This needs to be looked at holistically in terms of the overall cost of living in Thailand. For many, the lower cost of rents for say, a condo, more than compensates for the cost of the visa. The other thing to consider is that you pay the cost up front and so you are making a 5 year commitment. A slight correction, an extension of an O or OA visa requires $800,000 baht in a Thai bank for 2 months before applying for the extension and then 3 months after and a minimum balance of $400,000 baht the remainder of the year. You can eventually switch to the income method which is $65,000 baht/month if you want to. Also, the costs of an extension are lower for those married to a Thai. In September Thailand is offering a 10 year visa that will compete with the Elite Visa for the same wealthy retirees.
You obviously arent aware of the other side of the story for retirees who can have a better deal using an agent to do it all for you for around 30k or less with not having to put your 800k up front.
What's the option if youre 45 or over but under 50? Thought you had to be 50 for a retirement visa.
@@vivabikerleo7546 Yes I am aware of it but I am uncomfortable using an agent. I am not alone in this. You are welcome to post your own comment informing people about agents. Also, agent fees buy you convenience but it is money that is gone every year. The 800,000 baht is still your money. If I can afford the 800,000 baht deposit then I save on the agent fees. It all depends on what you can afford.
@@Jefe_Perro You have to be 50 years old to qualify for a retirement extension of either an O or OA visa. The cost of an extension is 1,900 baht. There is some paperwork involved with the application and you have to apply yearly. I do it myself every year without problems. You can still get an Elite Visa if you are between 45-50 or any age for that matter. If you are over 45 though then you are paying 600,000 baht for a visa program that will extend beyond 50 when a normal extension is just 1,900 baht. I have seen comments from retirees well over 50 who have an Elite Visa and love it and have no regrets. It comes down to what you can afford and the visa process that suits you the best.
@@vivabikerleo7546 Economically, extensions using the monthly income method are the best deal. You deposit 65,000 baht/month into your Thai bank account and you can spend it down to zero every month. You are not keeping inaccessible money in the bank and you are not paying an agent fee every year. It is somewhat harder to manage but thousands of expats use this method.
B 600k elite visa If I apply for it , also do I have pay B 10k monthly + 800k in the bank ?
I don't get it !!
No you don't pay a monthly fee nor need the 800k in the bank
Hello Sara, thanks for the details, but how I can find a reliable agent to apply for the elite visa❓️Please tell me how to contact when the next time I visit the Kingdom. I have more than 50 y.o with ฿800k฿ elite visa for the family is the same price. Are there any big differences in terms of benefits, unless paperwork ❓️Thanks
It might be best if you could contact the embassy in the country you're currently residing in, Humberto.
where is the elite headquarter office? is it the one in BTS saint louis?
i understand that the fees are to be paid in full in a lump sum so no pay over say 12 months?
You can pay with a credit card and make payments that way but of course you get hit with high interest.
You had no mention about the various agency who charge around 30k and get a retirment visa without having to put your own 800k in the bank.
It doesnt sound legal but apperentely it is🤔
So how can that be?
Hello? This is the Thai Elite Visa.
@@ellvtv2314 Hellooo? its also available to retirees... But why would they want to... When with 35k an agent can do it for you hassle free with not having to put any of your money in a thai bank. (this service isnt published on the visa information / condition but amazingly its legally available🥴🥴
What you're suggesting is illegal and absolutely silly to test Thai immigration. How are you going to prove you had 800,000 thb in a thai bank throughout the year? Are your schemers going to doctor this bank form too?
@@ellvtv2314 you probably miss understood me....
Let me tell it straight This is and has been going on for years and immigration is aware about it all. I was asking thaiger an explanation of how is this possible??
Hi , thanks for the good information , the money have to be payed all at one's or in terms , because I am not shore which visa is the best for me , 5-10-20 years , because I got a Thai wife for about 6+ years .and we think to move to Thailand in near future , from Australia.
If you're married to a Thai citizen I don't understand why you would consider this when you can get a marriage visa.
There's no payment plan, you pay the fee in full upon approval.
@@Jefe_Perro You telling me that I can get visa in Thailand not in Australia
@@tonyivanovski2687 No I'm not. I suggest you deal with an actual visa specialist in Thailand. If you're married to a Thai national and considering an elite visa you would greatly benefit from an informed consultation from someone qualified rather than youtube comments.
it's probably the best way to retire to thailand if not wanting to deal with the insurance requirement and not have to marry a local....
Can I obtain citizenship through this one?
No.
Million baht to have back up visa for successful business people = easy.