At the start of this year, Thai Privilege Card launched the Elite Flexible One scheme to help stimulate overseas demand for real estate in the Kingdom. The program provides anyone who purchase properties worth THB10 million with a five-year, multiple-entry visa.
There are a few things to note before joining the Elite Flexible One scheme. Firstly, only approved properties from select developers are eligible. And while the THB10 million can be invested in multiple units, you can only buy with one company. Secondly, you cannot sell, transfer or mortgage your property for five years. This information needs to be verified annually to show the unit(s) is still in your possession.
The Elite Flexible One program has a few positives worth mentioning as well. For starters, you don’t need to be physically located in Thailand to complete the transaction. Additionally, the scheme is retroactive to March 2020. That means if you purchased a unit in any approved development, it may be possible to receive a visa assuming you meet the other criteria.
Several of Thailand’s most notable developers have since signed up for Elite Flexible One program. Let’s take a look at them.
Raimon Land
Raimon Land was the first developer in Thailand to join the Elite Flexible One program and the firm has listed three projects. Units purchased The Lofts and The Diplomat 39 are eligible. Originally residences in The River were also part of the program, but Raimon Land revealed that condominium sold out earlier this year.
Related: Raimon Land wants to make Bangkok condos more attractive to foreign buyers
AP Thailand
AP Thailand has placed eight projects into the scheme–five under its Life brand and the other three being Aspire developments. The most notable condominium listed by AP is the upscale Life One Wireless in Central Bangkok.
Ananda Development
Ananda Development has seven eligible projects in the Elite Flexible One program. The homebuilder’s offerings feature mid-range and high-end developments including Ashton Asoke, Ashton Residence 41 and Ideo Q Sukhumvit 36.
Sansiri
Khun By YOO Thong Lo, one of Sansiri’s signature projects, qualifies for the visa scheme. This ultraluxury condominium has been branded by famed design firm YOO who worked hard to create something truly special. Sansiri has a total of six developments in the program. This list is comprised of XT Ekkamai, XT Huaukwang and Oka Huan Sukhumvit 36 in Bangkok as well as The Best Central Phuket and La Habana Hua Hin in addition to Khun By YOO Thong Lo.
SENA Development
There are four projects from SENA Development in the Elite Flexible One scheme. Niche MONO Sukhumvit Bearing, the first project under a joint venture arrangement between the developer and Japanese property firm Hankyu Realty, is in the program along with Niche Pride Taopoon-Interchange. That condominium is best known for having facilities spread across 30 floors.
Related: Niche Pride Taopoon-Interchange is revolutionizing facilities in Asia one story at a time
Other developers in the Elite Flexible One program
A total of 13 developers have signed up with the Elite Flexible One program with projects currently available in Bangkok, Phuket, Hua Hin and Chiang Mai. You can find the full list of participating companies and condominiums here.
