Earth boy – Asia

Thailand Privilege Card Co (TPC), the provider of luxury residency visas in Thailand is reportedly launching a wealth management service in 2018.

The move by TPC, a subsidiary of the Tourism Authority of Thailand, is aimed at increasing spending and investment services as well as enrolment to residency visas named Elite Card Thailand.

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TPC president Pruet Boobphakam said the firm would be targeting investors, business owners and retired foreigners as according to him they are expected to significantly boost the country’s tourism.

The wealth service is also aimed at individuals investing in property in the price range of 5-10m baht ($150,000-$300,0000)

The launch of the service will be branded under the “Simply Extraordinary Country Residence Programme Crafted for Friends of Thailand”.

At present, there are more than 5000 Elite Card members.

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Launched last year, the residency visas called Elite Card Thailand allow high net worth net individuals to live and work in Thailand.

There are seven different packages, with the “Elite Ultimate Privilege scheme”, being the most costly. Depending on whichever package an individuals choose, they can stay between five to 20 years in the country without having to leave. Prices range from 500,000 to 2m Baht.

Some of the perks include access to government agencies dealing with driving licenses, immigration and work permits.

Elite cardholders also benefit from discounted golfing, restaurant, spa and medical services.

The Tourism Authority of Thailand was contacted by PBI for comment, but did not respond by the time of going to press.