Thailand’s sought-after Thailand Elite Residence Program has seen a substantial increase in applications from US people given that the start of the year and the outbreak of the COVID-19 pandemic. The current sales figures reveal that the variety of US applicants in just the very first three months of 2020 is already more than 50% of the total US applicants for the whole of 2019, according to Henley & & Partners. This is due in part to coronavirus-induced travel constraints, with US residents currently in Thailand deciding to stay and delight in the benefits of residing in Thailand on a more long-term basis. Nevertheless, US application numbers from outside the nation have likewise spiked, with Q1 2020 tape-recording a 100% boost in United States candidates compared to both Q1 2019 and Q4 2019.
Dominic Volek, Managing Partner and Head of Southeast Asia at prominent global home and citizenship advisory company Henley & & Partners, states Thailand continues to be the destination of option for business owners and investors. “Entrepreneur investors stay the largest category of applicants for the Thailand Elite Residence Program thanks to Thailand’s exceptional worldwide track record as a business center and innovation center.”
A comparable recent rise in demand to reside in Thailand can be seen in applicants from Australia, affected this summer season by both devastating bush fires and the coronavirus. Henley & & Partners reports that the overall variety of Australian candidates for the Thailand Elite Home Program in Q1 2020 was more than half the number of Australian candidates for the whole of 2019. Compared to Q1 2019, there was an incredible boost of 228% in Australian candidates in Q1 2020, and 130% when compared to Q4 2019.
The Thailand Elite Residence Program has gone from strength to strength given that the Thailand Benefit Card Co., Ltd designated Henley & & Partners as an international concessionaire in 2017, with sales increasing by 70% over the previous 3 years. According to Mr. Somchai Soongswang, President of Thailand Advantage Card Co., Ltd., the operator of Thailand Elite Card, “Henley & & Partners has contributed a significant effort to promote the program, and Thailand is seeing the benefits.”
Because Henley & & Partners ended up being the official international concessionaire, the Thailand Elite Residence Program has broadened substantially and now has over 8,600 members– a figure that is anticipated to cross the 10,000 marks this year. Over the past three years, there has been substantial uptake by certain citizenships in specific; the varieties of British and French candidates have increased by 75% and 73%, respectively, while the variety of Japanese applicants has increased by a remarkable 161%.
The effect of the COVID-19 pandemic has set off a significant spike in general interest in financial investment migration among wealthy people and their households who consider it a unique and effective hedge versus volatility and broader value destruction. As Volek describes, “The unpredictability and instability caused by the COVID-19 pandemic are driving more wealthy individuals to reassess their concerns and look for alternative choices for home, and the Thailand Elite House Program is a perfect choice. Purchasing the program allows them to transition to a brand-new life in among the world’s finest locations, which offers an outstanding and economical quality of life, and where they feel more comfy and protected.”
Among Thailand’s drawcards is its outstanding universal healthcare system, which was ranked as sixth- finest on the planet in 2015 by CEOWORLD Publication. Thailand has first-rate, international-standard healthcare facilities in its larger metropolitan centers, and the nation has been praised for having among the most affordable rates of transmission and deaths of COVID-19 on the planet.
Henley & & Partners CEO Dr. Juerg Steffen says alternative house or citizenship does not just provide rich people with a range of alternatives for places to live and conduct their business, but the programs also contribute substantially to the economic well-being of the nations that host them. “Financial investment migration is a winning service for international investors and sovereign states alike. Over and above the obvious benefit of providing a house in a different and potentially more secure place of their choice, it also assists people and their families protected access to new markets, top universities, better health care systems, and a suite of financial investment and individual chances for both present and future generations.”
The first of its kind worldwide, the Thailand Elite Residence Program is managed by Thailand Benefit Card Co., Ltd., and uses a candidate’s advantage entry visas that consist of a vast array of VIP benefits, according to Henley & & Partners. The program grants multiple-entry visas to certified candidates, which permits them to go to and reside in Thailand for durations of in between five and twenty years, at a one-time expense of in-between THB 500,000 (roughly USD 16,000) and THB 2.14 million (roughly USD 68,000) depending upon the option selected. Advantages consist of airport limo services and lounge gain access to, sped up immigration procedures, access to world-class healthcare services, a devoted concierge, and numerous opportunities throughout hotels, shopping centers, golf courses, and more.