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As the title of this video suggests, we are discussing Thailand Elite Visas and we are discussing if there is a more cost-effective option. This is in the context of younger expats. Older folks, the older folks that are out here, it really is just weighing Thailand Elite versus the Retirement Visa. If you are over 50 that is really your analysis in most cases. But what about younger folks?

Well I would say the question shouldn't so much be about cheapness or relative cost because frankly there are other options especially for digital nomads and especially for folks who are self-employed. It may be possible for example, just one example, to set up one's own Company in Thailand and use that as a vehicle to maintain Work Permit and Visa status here in the Kingdom. That may be a good long-term solution quite frankly. I won't necessarily say it is cheaper per se but it could be cost comparable when you are looking especially the five-year Elite Visa at 600,000 Baht. In the end, the cost associated with maintaining that company and possible tax liability it could come in under that number over the course of five years. Again it is going to be fact specific; it is going to depend on circumstances. 

More importantly though and I think this is one that very few people look at, especially younger folks because I don't think they know this is out there but by using a Company, if you are maintaining a business here in Thailand and you are using that business to maintain your Work Permit and Visa status, after a certain period of time it is possible to apply for Thai Permanent Residence and upon being granted Thai Permanent Residence you are essentially done worrying about visas. That is a lifetime visa for lack of a better term. It is even better than Thailand Elite because with Thailand Elite, a) you cannot be work authorized on it; with a Permanent Residence you can get a Work Permit and b) Thailand Elite has a definitive endpoint. It does end. You can renew but it does technically get re-adjudicated I guess and costs can go up. We have seen it. The price of Thailand Elite has gone up especially the 5-year plan in the past couple of years. 

So another way to think about this is to maybe be looking at options, especially younger folks, guys and gals, who are looking at coming to Thailand and living here and staying here and possibly working long term, Thailand Elite a) you are not work authorized on Thailand Elite so if you are looking to work, if you are looking to do business, Thailand Elite may not be the most optimal. Second to that is long-term possibilities with different types of visas specifically a Business Visa with a Work Permit it is possible to go ahead and eventually get into Permanent Residence status and that is a place where one is optimally situated with respect to their long-term status in Thailand because once granted you are just here, you are done and also you are covered under a different part of the Immigration Act. You are no longer dealing with 90-day reporting; you are no longer dealing with TM 30 address reporting. Permanent Residents have a house book in Thailand. You are not dealing with those same issues. 

So again, it may be a good idea for those who are looking at being in Thailand long term, Elite can be a very good choice for certain people but there are going to be folks where other options are available and other arrangements can be made which are far more optimal to their position.