The «Land of Smiles», as it’s often referred to because of the friendly disposition of its citizens, has become one of the most sought-after destinations in Southeast Asia.

An increasing number of wealthy families are moving to Thailand because of its temperate climate, spectacular landscape and growing leisure facilities.

To maximise that potential and harness the commercial opportunity of the country's assets, the Thai government has just launched a new visa investment program.

Flavour of the Moment 

Global wealth managers have also been beating a path to Thailand. Credit Suisse and Lombard Odier have both been active in the largely underserved wealth management segment of the market.

Credit Suisse has gone down the path of establishing its own Bangkok based business unit while the much smaller Lombard Odier went down the alliance route with local banking group Kasikornbank.

Clearly despite the recent political turmoil in the country, something is happening in Thailand.

Ultra Wealthy Migrants

Wealthy individuals around the world are migrating or acquiring citizenship of other countries, in increasing numbers. This trend is accelerating against a background of strong growth in global wealth and international mobility. 

Reasons behind migration vary. Apart from financial considerations such as better business opportunities and a favorable tax and regulatory environment, lifestyle factors such as warmer climate or a higher quality of life are also high on the list of motivations.

Attractive Tax Structure

Henley & Partners, has been appointed as the global concessionaire to promote Thailand’s exclusive residence visa program, Thailand Elite, which gives foreigners the right to live in the country for up to 20 years.

Initiated by the Royal Thai Government, Thailand Elite is the first program of its kind worldwide, to attract wealthy global citizens, families, investors and entrepreneurs who want to spend extended periods of time in the country and take advantage of its beneficial tax regime and affordable but exceptionally high standard of living.

«We are confident that we can help make a significant difference to Thailand’s economy by promoting this world-leading residence program to those wanting to establish Thailand as their second home for part of the year or even move there permanently,» said Dominic Volek, Head of Southeast Asia at Henley & Partners. 

Thailand's Visa Program

To receive the Thailand residence visa, foreigners must be a member of Thailand Elite, an exclusive program offered by Thailand Privilege Card Company Limited (TPC), a wholly-owned subsidiary of the Tourism Authority of Thailand.

The Thailand residence program provides a multiple entry visa and allows holders to stay in the country for an unlimited period of time subject to the validity of the program option chosen. The following are the most popular options:

Elite Ultimate Privilege — 20-year residence visa with complimentary VIP services for applicants over the age of 20 years, who pay a one-off fee of approximately $60,000, plus an annual fee of approximately $600

Elite Privilege Access — designed for family applications and provides a 10-year residence visa, with complimentary VIP services. The one-off fee is approximately $30,000 for the main applicant and approximately $22,500 for each dependent with no annual fee or age restriction

Elite Easy Access — a popular option with a five-year residence visa for expats or business people wishing to enter and exit Thailand regularly and easily. The one-off fee for this package is approximately $15,000 with no annual fee or age restriction.