Sales of Thailand Elite Cards to Chinese nationals have surged 185% this year, accounting for 35% of the programme's total membership of 20,844.
Yuthasak Supasorn, board chairman of Thailand Privilege Card (TPC), the operator of the Thailand Elite Card programme, said the number of new Chinese members on an annual basis had risen from 1,095 in 2021 to 3,131 as of October 2022, representing growth of 185%.
The overall number of Chinese members in the programme reached 7,350, which is the leading market for Thailand Elite Card.
Mr Yuthasak said the total sales volume this year has exceeded the target of 4,407, as it already gained 5,582 new members.
As more wealthy Chinese businesspeople were looking for visa facilitation and opted for long-stay trips while the mainland remained under strict pandemic curbs, TPC prepared membership products to tap the growing demand.
He said since the launch of Elite Flexible One, targeting foreign investors who wish to own real estate in Thailand this year, five customers -- all Chinese nationals -- applied to the programme and purchased real estate in the country worth 100 million baht in total.
Mr Yuthasak said TPC would continue working with property developers that target Chinese buyers, expanding its marketing campaign to Hong Kong and Taiwan as well.
Regarding concerns over land ownership granted to foreigners, he said TPC has to strictly follow the regulations by checking the eligibility of applicants to ensure they qualify for this privilege.
The programme cannot grant membership to those who buy land or a house. It is restricted to condos that are already built and worth a minimum of 10 million baht. Members cannot sell or transfer the properties they own for at least five years.
Mr Yuthasak said every Elite Card member has to pass a criminal background check and be approved by the Immigration Bureau and Consular Division before being granted membership status.
There have been no petitions or concerns over any of its members committing crimes in Thailand, he said.
The Elite Flexible One programme was extended until Dec 31, 2024 from the end of this year.
At present, there are 22 property developers offering 77 projects in total for members of this programme.
