From January 2021 and until the end of 2022, foreigners will be eligible for the Thai Elite visa by purchasing move-in ready (not under construction) units in designated property developments for THB 10 million or more, reports Investment Migration Insider (5 December 2020). The Thai Elite program, designed to inject capital into the country's struggling property sector, now has nine different packages which Thai property developers can enrol in and bundle them together with real estate units which are offered for sale to prospective investors. As long as investors put in a minimum of THB 10 million, they can choose to buy one or several units but, crucially, only from one developer per card. Reacting to the news, Georg Chmiel, Executive Chairman of Juwai IQI, said, "For the applicant, it's appealing because your money is going into an asset that can earn returns and you can sell again later. You can also live in the property. The other Thai Elite visas all require payments to the government that you never get back."
