Everything sounds great. My Thai hade all that in Switzerland for free. No show ups by Immigration no money bringing nothing...... Also she has free pensions and health care in which you can trust. No hazel and worries like me. Even i bring more than 4 Million Bath into the country. 🤔🙄
I'm nearly 42 years old and from the UK. I am planning to sell my business in the next 2-3 years and buy a 5 year Thai elite visa. That will cost me around £20.5K (sterling). I will use 4 points a year to have my 90 day address checks done for me. I will also use my points for an annual health check (which I consider very important). I couldn't care less about golf or the other fancy stuff. Once my 5 year elite visa expires, I will be 50 years old and can then switch to the retirement visa. I think that's a pretty solid plan. Thanks for the video Jett.
Love your plan. But I wouldn't spend points on the 90 day report assistance. Set a reminder on your phone, go on the immigration website and do it all in 2 minutes without going anywhere.
The world economic forum have released a white paper to stop the visa over the next 12 months and restrict movements from your own country you will only be allowed to fly long range to 2 flights within a 10 year span its all down to global warming peace all
@@Openeyesopenheart42 I am quite well off so it's not a big deal for me. My main priority is convenience. That said, if there is a cheaper way to stay in Thailand for 5 years (until I turn 50), *and is hassle free* I would definitely want to explore that option also. Thanks.
They literally destroyed a great visa option by being greedy. Nobody is applying for it since the changes. They will have to change it or go bust as I can't imagine they're making enough money to break even on marketing and admin costs the way things are now.
@@MarkitoJanus 900,000 baht for 5 years is the cheapest option they offer now, which equates to US$5000 per year, so the OP comment was being lenient. All this price gouging has done is push foreigners into the 'grey area' space of ED and Business Visas which are now half the price.
The price change started in October '23. I found out about it in July and started enrolling that day. I was going to hold off until I was ready to move to Thailand, but after hearing this, I had to act. I agree that it's not a good idea. 150K usd is ridiculous, and even if you have that kind of money, many wouldn't find the value in spending it for this. @@johnny_bravo9990
@@johnny_bravo9990 It happened last September. It went from 30K for 20 years to 150K for the same damn visa. I agree that it's ridiculous and stupid. Hopefully, they'll reconsider in the future.
@@michaeldileo8815 you don't even have to consider it now after they give 60 days visa exemption with the option to renew for another 30 days. Can travel all over South East Asia every 90 days. Or do a visa run, I'm guessing one can stay 90+90+90 days at a stretch in Thailand
The fee for the Elite visa would be much better off sitting in a USA high yield savings account bearing 5% APY. Then just do the 1 year retirement visa for a very small fee at immigration every year. Go into immigration with your paperwork in order, a smile on your face, and a good attitude. No problem man.
Yeah I figure I will hire an agent for the 1st year (they "facilitate" the 800K Thai Baht in your Thai bank account). Then for the annual renewals will do myself just have to show 65,000 Baht deposit per month for 12 months in the Thai bank account. And oh yeah I understand Thai banks do not pay hardly any interest, that's why the vast majority of my funds will stay in the good old USA banking system:)
Hey Jett, Just to say thanks, I used the lawyers you recommended and they did a brilliant job, they charged me nothing, why anyone would try to do it themselves is beyond me. I got approved for a 20 year visa and will arrive at the end of this month, I'm looking forward to an easy trip through immigration this time 😂. Thanks again mate, I enjoy your videos.
This sounds like its changed quite a bit since last year. 5 years went up from B600k to B900k, and I don't think there was a points system for privileges at all.
If you are under 50 years old there are few visa’s available for long term stay. The Elite visa is one of the options available to younger people who are not working. I know one guy who retired from being an IT professional in his mid 40’s. He stayed in Thailand using the Elite visa and upgraded to the 20 year Elite just before the price increase. I came to Thailand in 2017 at 60 years old on an OA visa. I maintained 800,000 baht in a Thai bank. One year ago I switched to the 10-year pensioner LTR visa.. The LTR doesn’t have a bank deposit requirement so my 800,000 baht became available to spend.
You're correct. Someone who's not of retirement age and isn't willing to get a job in Thailand is going to have to come to terms with paying a lump sum to live here. That's how the Thai govt sees it at the moment.
i did the same. 47, divorced thai wife, thai kid is 21, too old to get visa on his behalf, not looking to immediately get to re-marry, and with what i hear is increased crack down on education visas, the 20yrs Elite was the best option. not cheap, but covers me until 67. at 1 million thb before the rate increase, it still gives the airport lounge and fast track, visa/bank acct/driving license assistance, and immigration help. i find the new pricing trying to be shinier, but offer worse value for money.
Zero messing about at immigration, can come and go as you please, solid and safe visa with long duration, don’t have to worry, feel safe and secure. $43k for 10 years $4.3k per year $358 per month $12 per day That’s bloody good value if you ask me. Anyone moaning about this visa is quite simply because it’s out of your budget and YOU ARE NOT who the Thai’s created this for.
I was grandfathered in to the 1 million baht 20 year thai elite visa. Really glad I got it. Makes life in Thailand so much more convenient. Not sure if I’d pay the new price though.
Walking through Times Square in NYC last week and saw an ad for the Elite Visa on one of the billboards. It's amazing how broadly this is being marketed.
@@chinabergif you still need to think about that then it's not for you. It's for people who have enough savings, investments and/or can work remotely.
I got my 5y Elite visa 2 years ago and I learned to appreciate the bank account opened within 2 days after my arrival. I paid 600k but managed to upgrade to 20y last months for another 400k. So, overall 1000k for 20y and I am to young for the retirement visa. There are no privileges with the visa except the fast track at the airport. But I am happy with that. Great video, Jett.
@@Laodong-r3m 400k for the initial 5 years I applied for 2.5 years ago and now 600k the upgrade for additional 15 years which is possible for those who have had an Elite visa before they changed the program in 2023
Thanks for this video, Jett. It's a great overview of the privilege card scheme. One fact-checking question: Isn't the bank deposit for the retirement visa 800,000THB rather than 600,000THB?
I am thinking that the new Thai gov rules on taxing remittances into Thailand from savings overseas is going to put off 95% of applicants. Just like the Malaysian gov who drastically changed the rules for the MM2H visa requiring much higher costs and a 5x fold increase in the deposit needed - resulted in a 98% drop in applications. Nobody wants to retire in Malaysia anymore. Maybe Thailand will suffer the same outcome? You want to remit say £250,000 to buy a Thailand retirement apartment but the Thai gov wants to take a 30% tax deduction from your remittances!
@@JettGunther Not sure where you got that information from. All moneys brought into the Country are taxable whether pensions, assessable income or savings.
There are multiple videos about the new tax law done by professionals in Thailand, like lawyers and agencies that handle visa. You might want to take a look and there are details not mentioned here, like if there is a tax agreement between your home country and Thailand or not? That does affect your tax. It was informative and more than heresay.
Good to see you again Jet. You should start your own English news channel. You would do extremely well. It would be very much to your benefit. Let me know what you think. Take care
It seems Thailand is trying to change its status from an affordable destination to a more premium destination..at this price they could have included membership for a premium club like RBC golf and some other perks which cannot be attained easily.
i just did my 15 year renewal before the price increase. I likely would not have done it if I know about the change in remittance tax. Would have shot for the LTR visa. As far as work, my lawyer told me I could "conduct business" in Thailand, but not work at a Thai company. He said sending emails, talking phone calls, attending tradeshows, meeting with customers and my distributor were all fine.
You are such a pro, Jett! Good summary of the Visas. 🎉 The only iffy thing is the weird suggestion for taxing foreigners on world wide income 2024. If so, then it feels better to leave Thailand and settle in Kuala Lumpur. If no tax, ok I am happy to stay in Thailand and create tons of wealth for Thailand in the next 10 years, through real estate investments, etc.
Great video. Privilege visa is amazing for those with some savings / high earner and want to stay in thailand long term without the hassle of border run.
Thanks Jett. I got mine three years ago and have not taken advantage of all the services. If I had known how much peace of mind I would get from this visa, I would have gone for the 20 year option.
You got a 5 year elite visa with a couple of years left? You should still have the option to extend to 20 years at the old price. Email or call them about your options.
@@Openeyesopenheart42 If you're talking about current members being able to extend memberships. They can if it applied to their membership before the changes.
Many thanks Jett, I'm 65 and have a Thai wife living in South Africa. Plan to retire in 3 - 4 years time in Chanthaburri where my Thai wifes family lives, yes looking at the 10 year Elite / Priviledge Visa not sure which is best, thanks 🙏
Interesting. I know I am not in the norm of people but the Thailand Elite looks nice for me. I just turned 28 and travel through Thailand a lot for all types of things, I've always wanted an apartment in Bangkok. I've been looking into this as I have the extra money for it and will makes things easier when going through and with some perks I would actually use and really enjoy at my age.
Probably not for me, got an overstay from 2007 which won me a week in the IDC. Payed for my own flight home and got a new passport, been back several times without any issue but I guess my name is going to still be in the system.
I look back at the old price and think I should have got it then as I’m not near old enough for retirement options. Not sure how long I want to be in Thailand so didn’t commit to it and especially not now that the price is ridiculous. PS: bloody great hair, I’m jealous 😂
Well structured video, thank you. I've paid 50,000 baht for a ten-year re-entry permit. They cost 5,000 per year... so that seems a reasonable investment. Oh, and I can stay for ten years. LTR for over 50s is a no-brainer. The team in Bangkok who manage this process are fantastic... made it a pleasure to apply and receive. If you don't qualify - age perhaps - then good advice from Jett here, use the minimum duration Elite until you get to 50.
Can you comment on the value of having a "permanent resident" visa particularly with regards to the possibility of some Thai gov't imposing a tax on personal funds brought into the country?
EXCELLENT explanation and review. Probably the best I've heard. The pricing and benefits still seem unrealistic and poorly thought out though - even for those who like burning money.
If you can afford to waste money on one of these you can probably afford two homes , visiting Thailand for a month or two and enjoying traveling with the money saved is in my opion the best option, anywhere for too long is boring if your not working
The 90 day reporting and annual extensions mean no thanks Thailand. Why pay so much money to still be required to do what the cheap charlies on a pension have to do. Thailand needs to get rid of these ridiculous impositions on Expats who have money - like other countries in SEAsia.
Been living in Thailand for 3 years and always apply for a Retirement Visa. I find that more to my liking. After 5 years the cost of that Visa is a fraction compared to the Elite visa, and i don't really need all those perks and services. And don't you still have to do a 90 day reporting even with an Elite visa,? Defeats the purpose in my opinion.
The ridiculous price increase and structure changes implemented last year are going to kill this visa type and I would not recommend anyone to fork out an absurd amount when there are far cheaper alternatives and some that allow you to work as well. I am friends with a few lawyers here in Thailand who specialise in visa services and they have told me that the rate of Elite Visa applications has gone from roughly 10 applicants per month to 1 applicant every 2 months since the change. The powers that be will very likely rework and reprice this visa in the coming year so don't get caught out by paying this inflated price. Both Cambodia and Malaysia are now offering far more attractive residence options so Thailand will have to come to the party if they want to compete.
The perks are not much unless you live in Bangkok and the paperwork is the same as every other long term visa. The One Card covers most of the discounts.
For people who really want to live and stay in Thailand, I would say the the Elite Visa WAS worth it with the old prices and privileges. Is it worth it NOW that the prices have doubled and the privileges changed? You can argue that it's not worth it.
great video, many thanks. if we get the thai elite visa and reside in thailand less than 6 months every year, are we exempt from paying taxes in thailand?
What you need that for? +50 and you can have retirement visa instead and you have vip benefits as well when using a agent to do all your paperwork etc. fraction of the elite visa cost?…
Hi Jett I have a question that I can't seem to get a clear answer on: if a foreign national wants to operate a RUclips channel within Thailand, how do they do so properly/legally? Assuming they were the only person 'working' for the channel (as they'd be the sole content creator), then how do they go about getting the right visa in order to legally stay and operate the channel within the country? Thanks!
As Thai local and have some knowledge of this "Privilage Visa" you should looked at your financial situation first. Because it depends on how much you willing to spend on visa. But if I were you and have stable assets (100k for starters), I'd say go for loweest tier first. Then you can stepping up the tier once your assets become better and better
Jett how would the new proposed tax laws affect the long term retirement visa, would you be taxed on the money moved into the Thai bank and any savings or interest from investments?
@@JettGunther I have seen an interview with a tax accountant based in BKK that says money brought in from sale of eg a house and used to buy a Thai property would be taxed, this seems ridiculous as it basically adds another 30% - 35% to the price of the property! This has really put me off my planned retirement,
But you will need to pay most or all of the taxes from that sale to your home country anyway. When you bring the remaining sum here, depending on tax treaties, you may only pay a small amount or none.
All - if you are a Tax Resident of TH- ie in country for more than 180 days- you are taxed on the _remittances_ to yourself- including CC purchases from an off shore CC as the money was remitted in TH.
It is clear that the ordinary retirement visa for 50 y/o plus is mostly the only viable option for living long-term in Thailand. You put up the Bt800,000 and comply with some modest rules (like staying out of gaol). The multi-entry O visa can be good for 2 years with one border run. If you wish to leave Thailand you get your Bt800,000 back and you can renew as you wish. Perhaps Thailand should look at the Philippines where you have a 30-day free entry visa on arrival and you can stay for up to 3 years, you pay about $50 per month in increments of 2/4/6 months and at the end of 3 years you do a border run and do the same all over again. You can apply for permanent residency at any time if you wish. 90% of farangs to the Philippines do it that way. All happy, it will cost you about $600 a year and no other conditions.
Hi Jett, brilliant as always. I have a question - Is there any other possibility besides Elite Visa and Border Runs to stay lets say 1 year in Thailand for Digital Nomads? As Retirement Visa is off the table as I am not 50 yet, Work Visa is off the table as I am Digital Nomad not being employed in Thailand (and then same thing applies for SMART or Business Visa). As I see it, it is either paying up front for the Elite Visa for at least 5 years, or try living off the 3 month Tourist Visa renewals when crossing borders. Many thanks!
Basically a good overview. I decided early 2023 for the 5 years EEA Visa and later went for 20 years ESE when they announced the changes in August. Just to secure the old good conditions. However what you did not touch in your Video is the latest development on Taxation. Now the ESE is only half value for me as i only can stay 179 days in order not to become a tax resident. I explicitely chose the EEA/ESE to circumvent the formalities and now with the new taxation policy i have to keep outside half of year. This is when other people say you do not know what is in 10 years. It even hasn't to last that long.
Have you tried remitting money over recently? So far anecdotally based on the people I’ve talked to there has been no difference whatsoever. Most foreigners came to understand that this new tax law was aimed at them, but in truth, it was primarily aimed at wealthy Thais with offshore investments.
No i haven't so far. But will do soon as i travel end of the month again to Thailand. However nothing is clarified so far and the tax regulation clearly sets the 179 days not to become a tax resident. We need just to wait how it will be applied in the future. First i am carefull. Last year i was 186 days in Thailand. This year i will count the days not to exceed this limit. Also in that sense not to be tax resident and bring as much money in to live from it in the following year when being there more than 179 days. @@JettGunther
You forgot to mention the 50,000 baht application fee (You need to pay at the time of application) which is LOST if you're application isn't successful or you decide not to carry you're application through if it is successful. That situation will apply to anybody who has been on an ED visa (with no OBEC certificate), medical visa (Not issued by a hospital) in the previous 3 years. So best make sure you have 50,000 baht to lose before applying.
I never had to do an application fee. Also I was on an ED visa previously and it didn't impact my application at all. I believe you only need the OBEC certificate if you are currently on an ED visa, not for past expired ones.
@@calky360 the application fees started the 1st October 2024 with the new pricing. TE will tell you unless you have the OBEC certificate, immigration won't issue the TE visa to anybody who has held an ED visa in the previous 3 years.
The wealthy retiree (LTR) visa seems like a no brainer. If one does not plan on working there why get anything else? (IE Elite Visa?) Besides the requirements for the LTR, are there any drawbacks? Curious to avoid the health insure it just says certain amount deposited in a bank. It does not specify if it has to be a Thai bank, right?
I got denied from the 20years elite visa program. They didn't give me any reason but it was probably because I had a 1year student visa. Which is alright, I'll just do border runs and student visas and save some money I guess 😊
I really would like to know about tax and legalities on day traders trading for prop firms in the United States? Being an Australian I can use the tax treaties that could benefit. Theres tons of traders looking for this info Jett.
Can you make a video about taxation in Thailand I heard that now if we live more than 3months you need to text for your income even if you're working online outside the country
Hello there young man for an excellent job explaining about the visa It is very educational to learn about the new visa for thailand. I am a Thai woman who left Thailand 55 years ago and still lives in the United States I just want to visit my family in Bangkok but the stupid new laws with the visa makes me change my mind Besides I do have lots of money to spend on Visa and the insurance.
Great video full of good information. Have you any information on depositing money into a Thai bank to buy a property will you have to pay 35% tax on the money and will that be on top of the $250 K for the LTR ? Thank you for the video.
Hi Jett, Thanks for this. What are your thoughts on the DTV "Nomad Visa"? As I am seeing many agents advertising this (incorrectly imho) as a "5 YEAR STAY." Also stating its renewable every year (again what I thought wrongly). My assumption were this visa is valid fir 5 years, but with a limit to 180 days Max stay any in ONE year, renewable once in that 5 years. Thanks in advance.
Kinda confusing huh lol I thought it was 1 year stay. Because I think you can get a learning or cultural 1 year visa. For Muay Thai, learning Thai or cooking.
Jett thanks for the video, You did a video a few months ago about a condo that included old elite visa status, or support getting it. Are there any deals on this version yet?
Retirement Visa Qualifications Applicant must be 50 years of age or over. Must meet any of the financial requirements: Security deposit of THB 800,000 in a Thai bank account for 2 months prior to the visa application. Monthly Income of 65,000 THB regularly deposited in a Thai bank account.
I feel ripped off. I paid last month and will be flying in 2-3 weeks. Now Thailand is going to boost Canada visa exempt to 90 days… imagine how easy it is to stay a year now with 1-2 bounces and 1 visit to Vientiane for a real TR ? What a joke 😒 i hope elite steps up their game and gives us a goodie like no 90 day reports, possible work visa or non b like residency after a few years.
Good info Jett. After watching, it confirms that the 10 year LTR wealrhy pensioner visa is the right one for me. Someone told me though that if i get that visa, i may be responsible for paying taxes in thailand if i stay more than 6 months a year??
The tax issue and your visa are unrelated. You may become a tax resident if you are in Thailand more than 180 days whatever visa you have. No one really knows whether the average pensioner expat will be subject to taxes especially if Thailand has a tax treaty with your home country as it does with the US. I think we will know more in the next 3-4 months. I already live here so I will wait and see. If you don’t already live here though then I can see why someone may want to wait until the issue becomes clearer.
@@martypoll Thanks marty. I do not live there fulltime as of now. I dont plan on spending more than 6 months/year there for a few more years so i will keep my eye on this.
Do I understand correctly that the cost of a five-year visa in total will cost 900,000THB? The video just talks about membership fees. How much do I need to pay in total for five years?
Seriously wouldn’t recommend it, the “complimentary “ benefits are non existent for 5 year visa holders. Most of the benefits we were promised were revoked in the last few years, something we’ve discovered is a very Thai approach to everything . Only benefit is using APAC desk to clear immigration quickly. Everything else is a load of rubbish, we’ve tried calling for assistance and we’re generally told we have to book months in advance.
Jett, or anyone who can answer this. I recall you doing a video some time ago about what it was like to live like the .01% or something similar where you went into every detail from the cost of insurance, eating out, car service, everything. Well, I've searched high and low and now I can't find it. Any help would be greatly appreciated.
@@JettGunther shoot. I knew that the price had gone up, I managed to slide in just under the increase. My wife and I still referenced the video frequently as I'll be there in May. Thanks for all the work you do. We watch every thing.
High costs and now you will be liable for income tax on yr world wide income ...and the best is you still have to report every 90 days after paying all that money !!!!!
Start your application here 👉 bit.ly/48DHuUP
To see the full brochure, click the link above ☝️
Everything sounds great. My Thai hade all that in Switzerland for free. No show ups by Immigration no money bringing nothing...... Also she has free pensions and health care in which you can trust. No hazel and worries like me. Even i bring more than 4 Million Bath into the country. 🤔🙄
This thailand elite visa people from any nationalities can apply or there are countries which theirs citizens are not qualified??
I paid so much money for the elite visa and now I'm supposed to pay taxes. NEVER AGAIN THAILAND!!!!!!!!!!!!!!!
Yes...Marriage IS alot more expensive than the Elite Visa. Honestly
😂😂😂
How?
It’s True 😂😂😂😂
For the man 🧍♂️ it is 🤓
I'm nearly 42 years old and from the UK. I am planning to sell my business in the next 2-3 years and buy a 5 year Thai elite visa. That will cost me around £20.5K (sterling).
I will use 4 points a year to have my 90 day address checks done for me. I will also use my points for an annual health check (which I consider very important). I couldn't care less about golf or the other fancy stuff.
Once my 5 year elite visa expires, I will be 50 years old and can then switch to the retirement visa.
I think that's a pretty solid plan.
Thanks for the video Jett.
Love your plan. But I wouldn't spend points on the 90 day report assistance. Set a reminder on your phone, go on the immigration website and do it all in 2 minutes without going anywhere.
The world economic forum have released a white paper to stop the visa over the next 12 months and restrict movements from your own country you will only be allowed to fly long range to 2 flights within a 10 year span its all down to global warming peace all
@@Openeyesopenheart42 I am quite well off so it's not a big deal for me. My main priority is convenience. That said, if there is a cheaper way to stay in Thailand for 5 years (until I turn 50), *and is hassle free* I would definitely want to explore that option also. Thanks.
Technically you can get almost 6 years with the visa as you will get A 1 year stamp if you enter just before the end of the 5 years.
You can do 90 day reports online for free & takes maybe 5 minutes. Don't waste points on that.
$4k per year is a little absurd for the little membership privileges you get. The older options were much better.
Add to that proposed taxing of income for all tax residents including Elite VISA holders.
They literally destroyed a great visa option by being greedy. Nobody is applying for it since the changes. They will have to change it or go bust as I can't imagine they're making enough money to break even on marketing and admin costs the way things are now.
There are was more options on there website. You don‘t have to go ultimate.
@@MarkitoJanus 900,000 baht for 5 years is the cheapest option they offer now, which equates to US$5000 per year, so the OP comment was being lenient. All this price gouging has done is push foreigners into the 'grey area' space of ED and Business Visas which are now half the price.
@@williamjiraiyaThere are many Chinese and Russians who are now getting it as their best option to stay long term.
Now that Elite Visa Holder must pay income taxes in Thailand if they stay 180 days... this Visa becomes obsolete ! No one will come to pay taxes !
I got the 20 year as soon as I heard they were upping the price to an insane amount.
When did this happen? They are stupid to increase it 5x
The price change started in October '23. I found out about it in July and started enrolling that day. I was going to hold off until I was ready to move to Thailand, but after hearing this, I had to act.
I agree that it's not a good idea. 150K usd is ridiculous, and even if you have that kind of money, many wouldn't find the value in spending it for this. @@johnny_bravo9990
Good deal. Got the same.
@@johnny_bravo9990 It happened last September. It went from 30K for 20 years to 150K for the same damn visa. I agree that it's ridiculous and stupid. Hopefully, they'll reconsider in the future.
@@michaeldileo8815 you don't even have to consider it now after they give 60 days visa exemption with the option to renew for another 30 days. Can travel all over South East Asia every 90 days. Or do a visa run, I'm guessing one can stay 90+90+90 days at a stretch in Thailand
The fee for the Elite visa would be much better off sitting in a USA high yield savings account bearing 5% APY. Then just do the 1 year retirement visa for a very small fee at immigration every year. Go into immigration with your paperwork in order, a smile on your face, and a good attitude. No problem man.
Not really, you need to keep 800K in Thailand bank, there are no 5% here and there is a risk of the currency fluctuation.
Better yet, hire an agent to do that part for you.
@@teplostar Good point, but still cheaper than Thai Elite.
Yeah I figure I will hire an agent for the 1st year (they "facilitate" the 800K Thai Baht in your Thai bank account). Then for the annual renewals will do myself just have to show 65,000 Baht deposit per month for 12 months in the Thai bank account. And oh yeah I understand Thai banks do not pay hardly any interest, that's why the vast majority of my funds will stay in the good old USA banking system:)
Works only if you are old as hell and thus qualify for ret visa
Hey Jett,
Just to say thanks, I used the lawyers you recommended and they did a brilliant job, they charged me nothing, why anyone would try to do it themselves is beyond me. I got approved for a 20 year visa and will arrive at the end of this month, I'm looking forward to an easy trip through immigration this time 😂.
Thanks again mate, I enjoy your videos.
I'm very glad to hear that! Thank you for the feedback
I thought the 20 year Elite visas were "invite only"? How did you swing that?
@@OscarInAsia maybe the lawyer invited him? 😅
Will you do a vid on the pros and cons of Retirment Visa vs Thai Elite for those who are close to retirement age?
This sounds like its changed quite a bit since last year. 5 years went up from B600k to B900k, and I don't think there was a points system for privileges at all.
If you are under 50 years old there are few visa’s available for long term stay. The Elite visa is one of the options available to younger people who are not working. I know one guy who retired from being an IT professional in his mid 40’s. He stayed in Thailand using the Elite visa and upgraded to the 20 year Elite just before the price increase.
I came to Thailand in 2017 at 60 years old on an OA visa. I maintained 800,000 baht in a Thai bank. One year ago I switched to the 10-year pensioner LTR visa.. The LTR doesn’t have a bank deposit requirement so my 800,000 baht became available to spend.
You're correct. Someone who's not of retirement age and isn't willing to get a job in Thailand is going to have to come to terms with paying a lump sum to live here. That's how the Thai govt sees it at the moment.
i did the same. 47, divorced thai wife, thai kid is 21, too old to get visa on his behalf, not looking to immediately get to re-marry, and with what i hear is increased crack down on education visas, the 20yrs Elite was the best option. not cheap, but covers me until 67. at 1 million thb before the rate increase, it still gives the airport lounge and fast track, visa/bank acct/driving license assistance, and immigration help. i find the new pricing trying to be shinier, but offer worse value for money.
Some over 50 folks are actually getting this visa to avoid the government reviewing their bank accounts to prove the funding requirements.
@martypoll you mentioned there are few visa options for under 50. what are the other options besides the privilege visa?
@@ASITL Working with a work permit and marriage to a Thai
Zero messing about at immigration, can come and go as you please, solid and safe visa with long duration, don’t have to worry, feel safe and secure.
$43k for 10 years
$4.3k per year
$358 per month
$12 per day
That’s bloody good value if you ask me. Anyone moaning about this visa is quite simply because it’s out of your budget and YOU ARE NOT who the Thai’s created this for.
Don’t forget to pay your taxes
I was grandfathered in to the 1 million baht 20 year thai elite visa. Really glad I got it. Makes life in Thailand so much more convenient. Not sure if I’d pay the new price though.
1mb for 20 year is insanely cheap. The new price is so 🥶
Yup just got mine before price went up like anything else post covid
Walking through Times Square in NYC last week and saw an ad for the Elite Visa on one of the billboards. It's amazing how broadly this is being marketed.
Get it if you want to pretty much live in Thailand and can afford it. It's that simple.
The issue is how to make a living while on the Elite Visa.
@@chinabergif you still need to think about that then it's not for you. It's for people who have enough savings, investments and/or can work remotely.
I got my 5y Elite visa 2 years ago and I learned to appreciate the bank account opened within 2 days after my arrival.
I paid 600k but managed to upgrade to 20y last months for another 400k. So, overall 1000k for 20y and I am to young for the retirement visa.
There are no privileges with the visa except the fast track at the airport. But I am happy with that.
Great video, Jett.
How can 1000k baht get 20yr visa?
@@Laodong-r3m 400k for the initial 5 years I applied for 2.5 years ago and now 600k the upgrade for additional 15 years which is possible for those who have had an Elite visa before they changed the program in 2023
@@Laodong-r3m I think that's USD not baht
how can you possibly know youll like it there for 20 years? or is it that your home country is unbearable? dont you miss driving a good car?
The women in America. That answers it
Thanks for this video, Jett. It's a great overview of the privilege card scheme. One fact-checking question: Isn't the bank deposit for the retirement visa 800,000THB rather than 600,000THB?
Possibly. Thank you for the correction 🙏
It is 800,000 baht, and you need to maintain this balance or above for two months prior to them issuing your one year retirement visa.
I am thinking that the new Thai gov rules on taxing remittances into Thailand from savings overseas is going to put off 95% of applicants. Just like the Malaysian gov who drastically changed the rules for the MM2H visa requiring much higher costs and a 5x fold increase in the deposit needed - resulted in a 98% drop in applications. Nobody wants to retire in Malaysia anymore. Maybe Thailand will suffer the same outcome?
You want to remit say £250,000 to buy a Thailand retirement apartment but the Thai gov wants to take a 30% tax deduction from your remittances!
Double check with a lawyer, but a few videos I saw recently that interviewed lawyers said that the tax is only on assessable income, not savings.
@@JettGunther Not sure where you got that information from. All moneys brought into the Country are taxable whether pensions, assessable income or savings.
THsnippets- all money _remittances_ if you are a Tax Resident- ie 180+ days.
@@sneakybastardmusic That's right. I am a tax-resident so affected for my pension
There are multiple videos about the new tax law done by professionals in Thailand, like lawyers and agencies that handle visa. You might want to take a look and there are details not mentioned here, like if there is a tax agreement between your home country and Thailand or not? That does affect your tax. It was informative and more than heresay.
Good to see you again Jet. You should start your own English news channel. You would do extremely well. It would be very much to your benefit. Let me know what you think. Take care
It seems Thailand is trying to change its status from an affordable destination to a more premium destination..at this price they could have included membership for a premium club like RBC golf and some other perks which cannot be attained easily.
i just did my 15 year renewal before the price increase. I likely would not have done it if I know about the change in remittance tax. Would have shot for the LTR visa. As far as work, my lawyer told me I could "conduct business" in Thailand, but not work at a Thai company. He said sending emails, talking phone calls, attending tradeshows, meeting with customers and my distributor were all fine.
You are such a pro, Jett! Good summary of the Visas. 🎉 The only iffy thing is the weird suggestion for taxing foreigners on world wide income 2024. If so, then it feels better to leave Thailand and settle in Kuala Lumpur. If no tax, ok I am happy to stay in Thailand and create tons of wealth for Thailand in the next 10 years, through real estate investments, etc.
HE IS A FUCKING STALLION
😂 I’ll take that compliment. Thanks!
@@san6788 Yeah! Jett is the stud bronco of Thai real estate.
@@luciddreamer11 Joan Jett: I Hate Myself... she is one hot chick.
Great video. Privilege visa is amazing for those with some savings / high earner and want to stay in thailand long term without the hassle of border run.
Yes, that is what I did. No issues, even the 90 day reporting was easy.
@@effewe2 enjoy thailand :-)
Thanks Jett. I got mine three years ago and have not taken advantage of all the services. If I had known how much peace of mind I would get from this visa, I would have gone for the 20 year option.
You got a 5 year elite visa with a couple of years left?
You should still have the option to extend to 20 years at the old price. Email or call them about your options.
@@Jefe_PerroYes. Will inquire
@@Openeyesopenheart42 If you're talking about current members being able to extend memberships. They can if it applied to their membership before the changes.
Call/email them - if that option was available for your Elite Visa at the time you took it out, you may still be able to upgrade for the same price.
Many thanks Jett, I'm 65 and have a Thai wife living in South Africa. Plan to retire in 3 - 4 years time in Chanthaburri where my Thai wifes family lives, yes looking at the 10 year Elite / Priviledge Visa not sure which is best, thanks 🙏
Marriage visa would be better and cheaper , 65 wait another 4/5 years, do it now if you can afford to,
Some may tell you marriage is more expensive 😉
Interesting. I know I am not in the norm of people but the Thailand Elite looks nice for me.
I just turned 28 and travel through Thailand a lot for all types of things, I've always wanted an apartment in Bangkok. I've been looking into this as I have the extra money for it and will makes things easier when going through and with some perks I would actually use and really enjoy at my age.
Many current Elite Visa holders think the same as you :)
Well done, great video, packed with all necessary information. Retirement visa it is!😂🤗
Probably not for me, got an overstay from 2007 which won me a week in the IDC. Payed for my own flight home and got a new passport, been back several times without any issue but I guess my name is going to still be in the system.
I look back at the old price and think I should have got it then as I’m not near old enough for retirement options. Not sure how long I want to be in Thailand so didn’t commit to it and especially not now that the price is ridiculous.
PS: bloody great hair, I’m jealous 😂
Well structured video, thank you.
I've paid 50,000 baht for a ten-year re-entry permit. They cost 5,000 per year... so that seems a reasonable investment.
Oh, and I can stay for ten years. LTR for over 50s is a no-brainer. The team in Bangkok who manage this process are fantastic... made it a pleasure to apply and receive.
If you don't qualify - age perhaps - then good advice from Jett here, use the minimum duration Elite until you get to 50.
50,000 baht is around £1150 roughly? Is that your total visa cost for a 10 year visa?
@@montyloads I think this guy used some "helpers" to get this. It's probably not legal and dangerous
They expect you to trust them yet they don't trust you by all the reporting etc ...
Can you comment on the value of having a "permanent resident" visa particularly with regards to the possibility of some Thai gov't imposing a tax on personal funds brought into the country?
Informative, fair and balanced!! Thanks Jett
Hyped up nonsense. Not worth it anymore.
EXCELLENT explanation and review. Probably the best I've heard.
The pricing and benefits still seem unrealistic and poorly thought out though - even for those who like burning money.
They did that to ensure no scrubs and other shady folks will sign up.
@@effewe2 Fair enough.
If you can afford to waste money on one of these you can probably afford two homes , visiting Thailand for a month or two and enjoying traveling with the money saved is in my opion the best option, anywhere for too long is boring if your not working
The 90 day reporting and annual extensions mean no thanks Thailand. Why pay so much money to still be required to do what the cheap charlies on a pension have to do. Thailand needs to get rid of these ridiculous impositions on Expats who have money - like other countries in SEAsia.
Been living in Thailand for 3 years and always apply for a Retirement Visa. I find that more to my liking. After 5 years the cost of that Visa is a fraction compared to the Elite visa, and i don't really need all those perks and services. And don't you still have to do a 90 day reporting even with an Elite visa,? Defeats the purpose in my opinion.
The ridiculous price increase and structure changes implemented last year are going to kill this visa type and I would not recommend anyone to fork out an absurd amount when there are far cheaper alternatives and some that allow you to work as well. I am friends with a few lawyers here in Thailand who specialise in visa services and they have told me that the rate of Elite Visa applications has gone from roughly 10 applicants per month to 1 applicant every 2 months since the change. The powers that be will very likely rework and reprice this visa in the coming year so don't get caught out by paying this inflated price. Both Cambodia and Malaysia are now offering far more attractive residence options so Thailand will have to come to the party if they want to compete.
Yep, Thailand government is not very educated. Make it out of reach for many so in the end they get less interest.
Insane inflation on these ... price nearly doubled in just 3 years after COVID. Not a good value
The perks are not much unless you live in Bangkok and the paperwork is the same as every other long term visa. The One Card covers most of the discounts.
Excellent video.
A video about the business visa would be much appreciated!
For people who really want to live and stay in Thailand, I would say the the Elite Visa WAS worth it with the old prices and privileges. Is it worth it NOW that the prices have doubled and the privileges changed? You can argue that it's not worth it.
great video, many thanks. if we get the thai elite visa and reside in thailand less than 6 months every year, are we exempt from paying taxes in thailand?
What you need that for? +50 and you can have retirement visa instead and you have vip benefits as well when using a agent to do all your paperwork etc. fraction of the elite visa cost?…
With the Elite visa, I think they should make it so you don’t need the 90 day reporting.
5 years is $25k now? Too much.
so, under this visa, can one stay in thailand for continuous 5 years by extending every year and not exiting the country?
Hi Jett I have a question that I can't seem to get a clear answer on:
if a foreign national wants to operate a RUclips channel within Thailand, how do they do so properly/legally? Assuming they were the only person 'working' for the channel (as they'd be the sole content creator), then how do they go about getting the right visa in order to legally stay and operate the channel within the country? Thanks!
As Thai local and have some knowledge of this "Privilage Visa" you should looked at your financial situation first. Because it depends on how much you willing to spend on visa. But if I were you and have stable assets (100k for starters), I'd say go for loweest tier first. Then you can stepping up the tier once your assets become better and better
Jett how would the new proposed tax laws affect the long term retirement visa, would you be taxed on the money moved into the Thai bank and any savings or interest from investments?
Based on what people are saying, you will not be taxed on savings you bring in. Please do double check with a lawyer.
@@JettGunther I have seen an interview with a tax accountant based in BKK that says money brought in from sale of eg a house and used to buy a Thai property would be taxed, this seems ridiculous as it basically adds another 30% - 35% to the price of the property! This has really put me off my planned retirement,
But you will need to pay most or all of the taxes from that sale to your home country anyway. When you bring the remaining sum here, depending on tax treaties, you may only pay a small amount or none.
@@JettGunther but there would be no CGT on a property sold in the U.K.?
All - if you are a Tax Resident of TH- ie in country for more than 180 days- you are taxed on the _remittances_ to yourself- including CC purchases from an off shore CC as the money was remitted in TH.
It is clear that the ordinary retirement visa for 50 y/o plus is mostly the only viable option for living long-term in Thailand. You put up the Bt800,000 and comply with some modest rules (like staying out of gaol). The multi-entry O visa can be good for 2 years with one border run. If you wish to leave Thailand you get your Bt800,000 back and you can renew as you wish. Perhaps Thailand should look at the Philippines where you have a 30-day free entry visa on arrival and you can stay for up to 3 years, you pay about $50 per month in increments of 2/4/6 months and at the end of 3 years you do a border run and do the same all over again. You can apply for permanent residency at any time if you wish. 90% of farangs to the Philippines do it that way. All happy, it will cost you about $600 a year and no other conditions.
Hi Jett, brilliant as always. I have a question - Is there any other possibility besides Elite Visa and Border Runs to stay lets say 1 year in Thailand for Digital Nomads? As Retirement Visa is off the table as I am not 50 yet, Work Visa is off the table as I am Digital Nomad not being employed in Thailand (and then same thing applies for SMART or Business Visa). As I see it, it is either paying up front for the Elite Visa for at least 5 years, or try living off the 3 month Tourist Visa renewals when crossing borders. Many thanks!
Education Visa 50.000 baht a year
I'm getting the 20 years elite visa🎉❤
How much do it cost?
Basically a good overview. I decided early 2023 for the 5 years EEA Visa and later went for 20 years ESE when they announced the changes in August. Just to secure the old good conditions. However what you did not touch in your Video is the latest development on Taxation. Now the ESE is only half value for me as i only can stay 179 days in order not to become a tax resident. I explicitely chose the EEA/ESE to circumvent the formalities and now with the new taxation policy i have to keep outside half of year. This is when other people say you do not know what is in 10 years. It even hasn't to last that long.
Have you tried remitting money over recently? So far anecdotally based on the people I’ve talked to there has been no difference whatsoever.
Most foreigners came to understand that this new tax law was aimed at them, but in truth, it was primarily aimed at wealthy Thais with offshore investments.
No i haven't so far. But will do soon as i travel end of the month again to Thailand. However nothing is clarified so far and the tax regulation clearly sets the 179 days not to become a tax resident. We need just to wait how it will be applied in the future. First i am carefull. Last year i was 186 days in Thailand. This year i will count the days not to exceed this limit. Also in that sense not to be tax resident and bring as much money in to live from it in the following year when being there more than 179 days. @@JettGunther
You forgot to mention the 50,000 baht application fee (You need to pay at the time of application) which is LOST if you're application isn't successful or you decide not to carry you're application through if it is successful.
That situation will apply to anybody who has been on an ED visa (with no OBEC certificate), medical visa (Not issued by a hospital) in the previous 3 years.
So best make sure you have 50,000 baht to lose before applying.
I never had to do an application fee. Also I was on an ED visa previously and it didn't impact my application at all. I believe you only need the OBEC certificate if you are currently on an ED visa, not for past expired ones.
@@calky360 the application fees started the 1st October 2024 with the new pricing.
TE will tell you unless you have the OBEC certificate, immigration won't issue the TE visa to anybody who has held an ED visa in the previous 3 years.
The wealthy retiree (LTR) visa seems like a no brainer. If one does not plan on working there why get anything else? (IE Elite Visa?) Besides the requirements for the LTR, are there any drawbacks? Curious to avoid the health insure it just says certain amount deposited in a bank. It does not specify if it has to be a Thai bank, right?
I got denied from the 20years elite visa program.
They didn't give me any reason but it was probably because I had a 1year student visa.
Which is alright, I'll just do border runs and student visas and save some money I guess 😊
Was it a shady ed visa? mean you actually attended school regularly??
Ed visa is the reason.
Smart move
Thanks for the video. Great job.
I really would like to know about tax and legalities on day traders trading for prop firms in the United States? Being an Australian I can use the tax treaties that could benefit. Theres tons of traders looking for this info Jett.
there're also a way to get Thai nationality citizenship but it seem to be ther hardest to get
Can you make a video about taxation in Thailand I heard that now if we live more than 3months you need to text for your income even if you're working online outside the country
180 days you'll be considered a tax resident here
Thanks for this video! You got a new Sub!🙂👍
Jett
Did I miss an intro because I can’t tell for sure if this information is for the 2024 program -
It is
I would of liked to know more about the marriage visa
Great summary - thank you!
Hello there young man for an excellent job explaining about the visa
It is very educational to learn about the new visa for thailand. I am a Thai woman who left Thailand 55 years ago and still lives in the United States I just want to visit my family in Bangkok but the stupid new laws with the visa makes me change my mind Besides I do have lots of money to spend on Visa and the insurance.
Brother, you're awesome 👍❤ very informative...I would love to meet with you by next year in July 2025. Keep up the EXCELLENT WORK 👍
Not forgetting a Government can change it's mind anytime it wants.
I addressed this point in the video. Check out the timestamps
Can you recommend any must-visit destination?
Great video full of good information. Have you any information on depositing money into a Thai bank to buy a property will you have to pay 35% tax on the money and will that be on top of the $250 K for the LTR ?
Thank you for the video.
ruclips.net/video/VtXF9sIugKE/видео.htmlsi=MUpzWDI8_BB4okez
Hey Jett, do you guys prepare paperwork for LTR Highly-Skilled Professionals?
But with the 20 years plan, can someone become a singer..????
You have to pay taxes now for this? Also can you go over the new visa?
as usual good video. I'll probably hire you for a 15 year visa. I'm now 70 years old
10:35 that’s the 5 million baht question!
Hi Jett, Thanks for this. What are your thoughts on the DTV "Nomad Visa"? As I am seeing many agents advertising this (incorrectly imho) as a "5 YEAR STAY." Also stating its renewable every year (again what I thought wrongly).
My assumption were this visa is valid fir 5 years, but with a limit to 180 days Max stay any in ONE year, renewable once in that 5 years. Thanks in advance.
Kinda confusing huh lol I thought it was 1 year stay. Because I think you can get a learning or cultural 1 year visa. For Muay Thai, learning Thai or cooking.
Jett thanks for the video,
You did a video a few months ago about a condo that included old elite visa status, or support getting it.
Are there any deals on this version yet?
Not yet. Usually the Elite Visa is baked into the condo price
So actually the 10year is best for the money as you pay 1.5m B every 10 year?
what if you have a very large lump sum of money saved, and just want to take time off and live abroad in Thailand for a year or two?
It is possible to use my residence permit in the embassy to renew my passport using the Thai address?
Can u guide me who to contact for education visa to learn language?
I am rich with my huge savings and owned condo in BKK, but will never retire or apply for Elite visa in the Kingdom kap!🙏
Retirement Visa Qualifications
Applicant must be 50 years of age or over. Must meet any of the financial requirements: Security deposit of THB 800,000 in a Thai bank account for 2 months prior to the visa application. Monthly Income of 65,000 THB regularly deposited in a Thai bank account.
Thank you for the updated requirements
Thanks for this video, its too bad the retirement visa is age capped at 50!
How ridiculous. Too expensive and complicated .considered retirement in Thailand but not now.philipines is the winner
Only if they legalize marijuana
I feel ripped off. I paid last month and will be flying in 2-3 weeks. Now Thailand is going to boost Canada visa exempt to 90 days… imagine how easy it is to stay a year now with 1-2 bounces and 1 visit to Vientiane for a real TR ? What a joke 😒 i hope elite steps up their game and gives us a goodie like no 90 day reports, possible work visa or non b like residency after a few years.
You're referring to the border run loophole. I discuss the risks in 13:50
Where have your read they would be changing the visa exemption to 90 days for Canadians?
@@blackcoffeeclub integrity Thaïland just made a video about it its coming ..
What about buying property in thailand? which visa needed?
No visa needed to buy property. In fact, depending on the purchase amount, you may qualify for visas for people who invest in Thailand.
They need to eliminate taxation for elite privilege holders.
It's a shame you can't get a 5 year driving licence with it
Good info Jett. After watching, it confirms that the 10 year LTR wealrhy pensioner visa is the right one for me. Someone told me though that if i get that visa, i may be responsible for paying taxes in thailand if i stay more than 6 months a year??
You'll be considered a tax residence but what taxes you pay and how much is something you'll need to consult with your lawyer
The tax issue and your visa are unrelated. You may become a tax resident if you are in Thailand more than 180 days whatever visa you have.
No one really knows whether the average pensioner expat will be subject to taxes especially if Thailand has a tax treaty with your home country as it does with the US. I think we will know more in the next 3-4 months. I already live here so I will wait and see. If you don’t already live here though then I can see why someone may want to wait until the issue becomes clearer.
@@JettGunther thanks!
@@martypoll Thanks marty. I do not live there fulltime as of now. I dont plan on spending more than 6 months/year there for a few more years so i will keep my eye on this.
Thumbs up 👍 Jett
Jett, do you do retirement visas?
Sorry I don’t
Do I understand correctly that the cost of a five-year visa in total will cost 900,000THB? The video just talks about membership fees. How much do I need to pay in total for five years?
Yes, 900,000 THB for 5yrs.
I’m m confused, if you are a digital nomad you aren’t getting employed locally so that’s not Thai work.
You're correct.
Seriously wouldn’t recommend it, the “complimentary “ benefits are non existent for 5 year visa holders. Most of the benefits we were promised were revoked in the last few years, something we’ve discovered is a very Thai approach to everything . Only benefit is using APAC desk to clear immigration quickly. Everything else is a load of rubbish, we’ve tried calling for assistance and we’re generally told we have to book months in advance.
The only thing that gets me nervous is the new tax system otherwise I'm considering it.
It affects everyone, not just Elite Visa holders.
Jett, or anyone who can answer this. I recall you doing a video some time ago about what it was like to live like the .01% or something similar where you went into every detail from the cost of insurance, eating out, car service, everything. Well, I've searched high and low and now I can't find it. Any help would be greatly appreciated.
I removed it because the Elite Visa price has since been adjusted WAY up and that affects all the calculations in that video.
@@JettGunther shoot. I knew that the price had gone up, I managed to slide in just under the increase. My wife and I still referenced the video frequently as I'll be there in May. Thanks for all the work you do. We watch every thing.
I m sold on ptc. How soon can i get my hands on one
?
What is ptc?
High costs and now you will be liable for income tax on yr world wide income ...and the best is you still have to report every 90 days after paying all that money !!!!!
Correction- if in TH for more than 180 days, then taxed on the money you remit to yourself in TH from afar.
Sounds very convenient, would it be possible to pay for this through wire transfer, I wouldn't want to put 25,000 thousand dollars on a credit card.
Of course
Why not ? You get points
Thabk you