SINGAPORE, 13 May 2020: More wealthy US citizens are signing up for Thailand’s Elite Residence Programme according to international residence and citizenship advisory firm Henley & Partners.
It reports a “significant increase in applications from US citizens since the start of the year and the outbreak of the Covid-19 pandemic.
Membership costs range from USD16,000 to USD68,000 depending on the visa timeframe.
Henley & Partners latest sales figures, released Tuesday, show US applicants in just the first three months of 2020 represent more than 50% of the total US applicants for the whole of 2019.
This is due in part to coronavirus-induced travel restrictions, with US citizens currently in Thailand opting to stay on a more permanent basis. However, US citizens applying for the Elite Card privileges from outside the country also spiked, with Q1 2020 recording a 100% increase compared to both Q1 2019 and Q4 2019.
Henley & Partners, managing partner and head of Southeast Asia Dominic Volek says Thailand continues to be the destination of choice for entrepreneurs and investors.
“Entrepreneur investors remain the largest category of applicants for the Thailand Elite Residence Programme, thanks to Thailand’s global reputation as a business centre and innovation hub.”
A similar recent surge in demand to reside in Thailand can be seen in applicants from Australia, afflicted this summer by both devastating bush fires and the coronavirus.
Henley & Partners reports Australian applicants for the Thailand Elite Residence Programme in Q1 2020 was more than half the number of Australian applicants for the whole of 2019. Compared to Q1 2019, there was a staggering increase of 228% in Australian applicants in Q1 2020, and 130% when compared to Q4 2019.
The Thailand Elite Residence Programme owner, Thailand Privilege Card Co Ltd, appointed Henley & Partners as its global concessionaire in 2017 and sales increased by 70% over the past three years.
The programme has over 8,600 members — a figure that is expected to pass the 10,000 this year. Over the past three years, British and French applicants increased by 75% and 73%, respectively, while Japanese applicants increased by 161%.
The sales agency argues that “one of Thailand’s drawcards is its excellent universal healthcare system, which was ranked as 6th- best in the world last year by CEOWORLD Magazine. Thailand has world-class, international-standard hospitals in its larger urban centres, and the country has been praised for having one of the lowest rates of transmission and fatalities of Covid-19 in the world.”
The Thailand Elite Residence Programme focuses on wealthy foreigners who can contribute to Thailand’s economic growth without being a burden on society.
Cardholders can buy into privilege entry visas that include a wide range of VIP benefits. The residency programme grants multiple-entry visas to qualified applicants, which allows them to visit and reside in Thailand for periods of between five and 20 years, at a one-time cost of between THB 500,000 (approximately USD 16,000) and THB 2.14 million (approximately USD 68,000) depending on the option chosen. Benefits include airport limousine services and lounge access, expedited immigration formalities, access to world-class healthcare services, a dedicated concierge, and various privileges across hotels, shopping centres and golf courses.
