29 Apr Thailand Residency by Investment Program [2023 Guide]
In the past few years, Thailand has become a popular destination for savvy high-net-worth investors and entrepreneurs. Combining a favourable business environment, a strategic location at the gateway to the region’s rapidly growing markets, a skilled workforce and a stable political environment, it frequently ranks as one of the best places to do business in Southeast Asia. Add to this a rich cultural heritage, warm climate and beautiful beaches, and it isn’t hard to see why residency is so sought after.
Today, discerning investors can tap into these benefits and opportunities with a long-term residency through investment. This article dives deeper into Thailand’s popular residency by investment program and discusses the requirements, advantages and application process. We will explore the following topics:
- Thailand Residency by Investment Program: an overview
- Benefits of Thailand Residency by Investment
- Eligibility Criteria for Thailand’s Residency by Investment Program
- Investment options for Thailand’s Residency by Investment Program
- Application process to acquire Thailand Residency by investment
Thailand Residency by Investment Program: an overview
The Thai government launched the Thailand Residency by Investment Program, officially known as the Thailand Elite Visa, in 2003 to attract high-net-worth individuals, entrepreneurs and investors. It offers a convenient and efficient way for high-net-worth individuals and investors to obtain long-term residency in the country. Elite visa holders have the right to reside in the country for up to 20 years without needing to leave Thailand every three months, as is the norm.
Benefits of Thailand Residency by Investment
The Thailand Residency by Investment program offers many benefits for high-net-worth individuals looking to combine a long-term residency with a potentially lucrative investment, including:
- Long-term visas
Investors can live and work in Thailand without having to worry about renewals for up to 20 years with the Thailand Elite Visa.
- Priority immigration
If you hold a Thailand Elite Visa, you can skip the long queues and save time at immigration checkpoints with priority processing.
- Multiple entries
Elite visa holders gain multiple entry privileges, so they can travel in and out of the country as many times as they like while their visa is still valid.
- Lucrative business opportunities
Thailand has fast become a major hub of business and trade in Southeast Asia with numerous business opportunities. The Elite Visa is designed to help investors tap into the best of them.
- Opportunities for families
Investors can select an Elite Visa type that entitles their spouse and children to long-term residency in Thailand too.
- Unique privileges
Elite membership offers a wide range of benefits, including complimentary services in spas, golf courses and restaurants, limousine transfers and speedy immigration services.
Eligibility requirements for Thailand Residency by Investment
Not everyone will qualify for the Thailand Elite Visa program. There are no educational requirements, and a minimum age restriction of 20 years only applies to the Elite Ultimate Privilege visa. You will need to hold a legal foreign passport and must not have an overstay record in Thailand or a deportation record in any country.
However, the specific requirements vary depending on which program you are applying for. Some of the specific requirements for the most popular programs below:
- Elite Easy Access: 5 years
- USD 17,100 for an individual (no dependents possible)
- Elite Privilege Access: 10 years
- USD 28,500 for an individual and extra to add a dependent
- Elite Family Excursion: 5 years
- USD 22,800 for two people and extra to add a dependent
- Elite Family Alternative: 10 years
- USD 22,800 for an individual and extra to add a dependent
- Elite Flexible Plus
- USD 1,000,000 in three investment formats
Investment options for Thailand’s Residency by Investment Program
When it comes to choosing investments, the program offers eight options to suit various needs and budgets.
- Elite Easy Access
The most affordable option will set investors back around just USD 17,100 for a five-year visa. There are zero annual fees, and investors can upgrade to a 20-year Ultimate Privilege or Superiority Extension for an additional fee. Benefits include VIP services and 24 short-haul transfers.
- Elite Privilege Access
Elite Privilege Access requires a one-time fee of around USD 28,500 for a 10-year visa.There are zero annual fees, and benefits include VIP services, an annual health check and 18 short-haul transfers.
- Elite Ultimate Privilege
Investors must pay a one-time fee of around USD 57,000 for a 20-year visa. There is an annual fee of USD 550, and benefits include VIP services, spa and golf access, unlimited short-haul transfers and an annual health check.
- Elite Family Excursion
This is an excellent option for investors looking to enjoy a five-year visa with one other person. It costs around USD 22,800 for two people. There is no annual fee, and benefits include four short and six long-haul transfers, as well as VIP services.
- Elite Family Premium
This is the best option for investors looking for an option that entitles their family to long-term residency too. Investors pay USD 28,500 for the first applicant for a 20-year visa. Benefits include VIP services, spa and golf access and limitless short-haul transfers.
- Elite Family Alternative
This alternative membership for families involves a one-time fee of USD 22,800 for an individual.
- Elite Superiority Extension
Investors will need to pay USD 28,500 for a one-year extension to an existing Elite visa. VIP services are included and there are zero annual fees.
- Elite Flexible Plus
This new option is only available for Elite Ultimate Privilege, Elite Privilege Access and Elite Superiority members. It requires USD 1 million in three different investment formats, including real estate, a limited public company and the stock exchange of Thailand. It grants investors special privileges to work in Thailand too.
Application process to acquire Thailand Residency by investment
Applying for Thailand residency through investment is a relatively straightforward process, but you will need to tick a few boxes and jump through a few hoops to get there. To help give you an overview of what to expect, we have broken the process down into six simple steps:
Step 1: Choose your investment option
There are currently eight investment options, each catering offering different benefits. Select the option that best suits your needs. Our advisors will be happy to offer advice and guidance on the best options for your requirements too.
Step 2: Submit your application
You will need to complete an online application form and provide all required documents and supporting information. This includes copies of your passport, two scanned passport photos, proof of your residential address, proof of funds and a completed Personal Data Policy Form. Ensure you work with an accredited Thailand Elite Visa agent such as Huriya Private, who will then work with the Thailand Elite Office, Ministry of Foreign Affairs and Immigration Bureau on your application.
Step 3: Wait for approval
Thankfully, you won’t need to wait long to find out whether your application has been accepted. The Elite Visa program team will review your application and notify you of its decision within 30-45 business days.
Step 4: Pay the required fee
Once you have been accepted and your application has been approved, you will need to pay the required fee for your investment option. This ranges from USD 18,000 to USD 30,000.
Step 5: Receive your visa and register for your Thailand Elite Card
Once payment has been received, you will receive a visa valid for the duration of your investment option. You will then need to register with the Thailand Elite Card to access your chosen program’s benefits, such as speedy immigration, concierge services and healthcare checks.
While the process is a quick and straightforward one, it’s important to keep in mind that processing times can vary depending on whether any additional steps or documents are required. To ensure the process goes as smoothly as possible, we recommend speaking to one of our advisors to ensure your paperwork is in order before submitting your application.
Obtaining Thai residency through investment is an excellent option for investors and high-net-worth individuals keen to leverage the country’s favourable business environment, strategic location and attractive lifestyle. It offers one of the easiest routes to residency, with benefits including long-term visas, priority immigration, multiple entries, opportunities for families and unique privileges.
Contact Huriya Private now to learn more about citizenship programs and how you can start your journey towards securing a valuable second passport.