Hidy Ho Posted April 30, 2005 Report Share Posted April 30, 2005 >>And with regard to owning property and land, using the corporate route would be pretty normal for these folk (without having to use BG's as majority Thai shareholders!) and IMHO a lot safer than using the Elite method (Did they ever pass the actual new land law? or are they still using the interim measures?)<< The other way would require substantially more than $1 million baht required to purchase the Elite card ... at least $4 million I believe. And I don't believe it's any safer ... Not that I would be inclined to buy the Elite card ... nor am in position to do so Link to comment Share on other sites More sharing options...
rickfarang Posted April 30, 2005 Report Share Posted April 30, 2005 I see the word "scam" being used a lot in conjuction with this program. Other than the failure to provide a means for foreigners to own land, what promise(s) has the card failed to deliver on? What makes people think its a scam? Maybe its not a scam, but instead just a poor value for those of us who aren't part of the target market. The Elite card is aimed at snobs. You aren't snobs are you? ...... Good. I didn't think so! So this card wasn't aimed at us, so while its interesting to pick at, those who are not into snobbery are not in a position to complain, only to jeer, IMHO. Link to comment Share on other sites More sharing options...
Guest Posted April 30, 2005 Report Share Posted April 30, 2005 The other way would require substantially more than $1 million baht required to purchase the Elite card ... at least $4 million I believe. And I don't believe it's any safer ... I am not an expert on doing this IN Thailand - so am not going to argue with your figures, but this does seem a bit high as initial costs. But with regard to being "safer" to own Land via your own corporate structure, from past work experiance in various places throughout the world (unfortunately not personal!) as long as you are using a reputable major firm of lawyers (ie NOT Muppet & Muppet in Pattaya!) you should not have any problems with the Thai majority Shareholders walking off with your property. This is pretty standard stuff. If it was me, I would structure the property & land ownership through an international bank in Farangland, so IF their any later "ownership problems", you get to sue a Farang Bank in Farangland (where the legal sytem works!). In practice however "ownership problems" are unlikely as firstly you wll find that the the international (reputable!) Banks will only deal with major firms of lawyers they are comfortable with and have an ongoing relationship and secondly folk (especially a firm with a reputation and a desire to retain a business link with an international Bank) are usually reluctant to take on the legal "muscle" of a major bank, whereas taking on a single punter is a lot easier. Of course this route will not be the cheapest, and will incur costs each year to maintain - but you get what you pay for (as you have to keep folk like me in BG's :: :. Finally, as my CYA, I should of course make clear that if anyone takes advice on a subject like this SOLELY from a "nightlife" website, IMHO you deserve everything you get............. E & O E :: :: Link to comment Share on other sites More sharing options...
Guest Posted April 30, 2005 Report Share Posted April 30, 2005 What makes people think its a scam? From the brief details I have seen, it appears to rely on an ever increasing number of subscribers to finance itself. Also I would not have any confidence that these "special" rules on property ownership will not change, although it appears to me that as the Thai property Law does not appear to have been changed as original mooted, and that Elite is doing no more than that which could be done by a Farang anyway (ie putting Land ownership in the name of a Thai nominee entity). I would also question whether "my" property would either no longer be mine, attract punitive taxes in the future or somehow "acquire" a large mortgage. The only "unique" benefit I can see is the visa - and USD25,000 is IMHO a lot just for this. I fully expect that when the money stops arriving that those losing out will NOT be the players behind Elite. I would of course be happy to be proved wrong by events. :: :: Link to comment Share on other sites More sharing options...
thalenoi Posted May 2, 2005 Report Share Posted May 2, 2005 rickfarang said:I see the word "scam" being used a lot in conjuction with this program. Other than the failure to provide a means for foreigners to own land, what promise(s) has the card failed to deliver on? What makes people think its a scam? Maybe its not a scam, but instead just a poor value for those of us who aren't part of the target market. The Elite card is aimed at snobs. You aren't snobs are you? ...... Good. I didn't think so! So this card wasn't aimed at us, so while its interesting to pick at, those who are not into snobbery are not in a position to complain, only to jeer, IMHO. You don't get it. If you had the cash to stay in the Oriental would you bother for a bloody VIP card? What really matters is no waiting lines at check in, arrivals etc. No need for one more card to get that. Bad marketing, better: Thais have no clues about marketting... Link to comment Share on other sites More sharing options...
Nervous_Dog Posted May 3, 2005 Report Share Posted May 3, 2005 <<What really matters is no waiting lines at check in, arrivals etc. No need for one more card to get that. >> Agreed on one of the few occassions I fly first class (a double up grade!) First class passenger got whisked through a speciall immigration line anyway! DOG Link to comment Share on other sites More sharing options...
buffalo_bill Posted May 3, 2005 Report Share Posted May 3, 2005 ** If you had the cash to stay in the Oriental would you bother for a bloody VIP card? ** Plus the additional problem that as per yesterday nobody in the Oriental knows about the Elite Card. BuBi Link to comment Share on other sites More sharing options...
Guest Posted May 3, 2005 Report Share Posted May 3, 2005 ND, Only flew business class this week but nobody asked anything when I followed up the first class customers through the fast lane. Pretty cool. Now staying in Meritus tower... need to report on this place... vely good for the sophisticated horny traveller - basically almost fell off the 56th floor while coming on a Novotel bird's face while standing on the aircon out on the balcony. Can it get any better with an Elite Card? Link to comment Share on other sites More sharing options...
BelgianBoy Posted May 3, 2005 Report Share Posted May 3, 2005 randomshots said:while standing on the aircon out on the balcony. Can it get any better with an Elite Card? You'll be about half a millimeter higher then. Link to comment Share on other sites More sharing options...
Guest Posted May 4, 2005 Report Share Posted May 4, 2005 "You'll be about half a millimeter higher then." One more Randomshots dream shattered today. Smart BB ! Falling back on the right side of the balcony still I had a thought for all those Pattaya upper floors jumps. Wonder how many were the twisted result of a wild blow job?? Better hold it for a while Link to comment Share on other sites More sharing options...
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