khunsanuk Posted November 20, 2003 Report Share Posted November 20, 2003 Hi, "Geez, who is going to stupid enough to do this?" Well, this one Ozzie guy Sanuk! Link to comment Share on other sites More sharing options...
racha Posted November 20, 2003 Report Share Posted November 20, 2003 Ahh, so this company is the owner.yes you have it worked out now, the company does owns the land but you got to remember who owns the company, The Government does !! Link to comment Share on other sites More sharing options...
racha Posted November 20, 2003 Report Share Posted November 20, 2003 I think this program is just a scam. You don't owe the land, because that is still outlawed. What they do is purchase the land for you and hold it in your name until landownership is legal (which may never happen).I agree land ownership will properly never happen and think this card is a crazy idea as the benifits of buying a membership just do not add up, even if you have a million to throw away it still does not make sense to me !! Link to comment Share on other sites More sharing options...
.. Posted November 20, 2003 Report Share Posted November 20, 2003 "the Elite desks at the immigration look really nice - shame they dont have any staff manning them " They did today. And also the Fast Track lanes for Biz/1st Class. Immigration was very busy at 12:45 this afternoon. But just as I rounded the corner coming up to the queue, a Immigration Officer waved over about 35 people to fill each of the Elite and both fast track lanes. I was pissed as *I* was entitled to be in that fast track lane. I would be *really* pissed if I was an Elite card holder and found that situation. BTW, I got a mailing here from TAT regarding the fact that I was a "special friend of Thailand" and "since I was a resident" I was being offered the Elite card at a discount. Had to go to some seminar to get the details and I did not bother. I too think that card is a really dumb idea. The only ones who will buy it are company directors who are doing biz with the Thai gummint, hoping that it will swing some contracts their way. Cheers, SD Link to comment Share on other sites More sharing options...
Guest Posted November 21, 2003 Report Share Posted November 21, 2003 Yep, doing business or personal status is the only reason I see to buy this card. When calculating the ROI, it might probably not be the best investment ever. However, it seems to be successfully and they are thinking about rising the price to USD 30000. http://www.bangkokpost.com/Business/20Nov2003_biz52.html 103 Elite Cards sold so far, fee may be hiked to $30,000 Sujintana Hemtasilpa and Chatrudee Theparat The membership fee for the Thailand Elite Cards for individuals may be raised to US$30,000 from $25,000 given the positive response from international business tycoons, says Prime Minister Thaksin Shinawatra. The government yesterday presented the cards to the first 80 members of the programme. The premier, who initiated the Elite Card programme, said that more than 1,000 international businesspeople had expressed keen interest in purchasing the cards, which cost $25,000 (one million baht) each for individuals and $50,000 for corporate holders. As for the right of the cardholders to purchase property in Thailand, Mr Thaksin said the government would not amend the relevant laws to extend the privileges to the cardholders. If they wish to do so, they would have to make make purchases through a fund, to be set up as an affiliate of Thailand Privilege Card Co, the company established under the Tourism Authority of Thailand to operate the Elite Card programme. Paisit Kaenchan, director of Thailand Privilege Card Co, said the number of card members was now 103. All of them had paid their fees and half were interested in purchasing property in Thailand. Somchainuk Engtrakul, chairman of the company's board and permanent secretary to the Finance Ministry, said the company would spend its net income, which was up to 85% of the membership fees, on profitable investments. Mr Paisit said he expected the investments to generate a profit of up to 5%. Asked if the company could meet the prime minister's target of selling 200,000 cards by 2004, he said it would try its best, adding that the premier would be more impressed by the development of the company's service quality than the number of members. Link to comment Share on other sites More sharing options...
Guest Posted November 21, 2003 Report Share Posted November 21, 2003 What are the visa privelidges associated with it? A lifetime non imm B would make it a more attractive proposal. Or at least some sort of long stay guarantee. After all for the investment visas for those of us not yet ready for our bus passes are 3 million Baht although this does remain your 3 mill Link to comment Share on other sites More sharing options...
torrenova Posted November 21, 2003 Report Share Posted November 21, 2003 I think the idea is good in principle but badly priced and marketed. If you are seriously rich, then you don't need it. If you have enough cash to be classed as well off then the real attraction would be to sort out the visa situation with a permanent visa or similar. Paying up in one lump sum would be seriously beneficial, even without the fringe benefits. It is too cheap really and the benefits are not sufficient enough. If more expensive, and with real tangible benefits, then I think they could reap in more money. As ever, the situation could change and it could prove worthless in the long term. It could also prove to be the wisest investment made if they up the ante and add some more perks. Link to comment Share on other sites More sharing options...
Guest Posted November 21, 2003 Report Share Posted November 21, 2003 The attraction seems to be the land ownership benefit, or at least that's what the press is promoting. But to take advantage of that benefit you have to spend 20 million on a property on top of the land price! So they seem to have aimed it out of the reach of the 'well off' that could afford the membership, 1 rai of land and a decent house of say 3 million. I certainly wouldn't want to see them make it more expensive for more up scale benefits as a guaranteed 1 year visa for life is all I'd be interested in and not the other 'benefits' which I wouldn't use. Well maybe the free limo from the airport to the Nana Hotel :: Link to comment Share on other sites More sharing options...
Guest Posted November 21, 2003 Report Share Posted November 21, 2003 The land ownership is the shakiest part of this thing to me. It really *isn't* ownership; the owner is a shell company that who knows what could happen to in the future. Privatization? the government climate towards this shifts? These type things could have drastic effects on the person who thought they bought the property/house. To me, ownership means signing the same forms in the same way a Thai does who owns land. This thing just doesn't sound good because there's a lot of faith involved. And that just seems a very bad thing to hinge over 20 million baht on. Link to comment Share on other sites More sharing options...
Zorro Posted November 23, 2003 Report Share Posted November 23, 2003 Well this latest scheme highlights exactly why i wouldn't invest any of my hard earneds in Thailand. The Thais are just not to be trusted with anything that they offer.Basically it is always too much of a gamble when you can do much better else where without the risk. Spend your money in Thailand and make it elsewhere. Why buy a property in Thailand when you can rent and you have no problems with maintenance and you can walk away anytime with no hassles. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.