This time, the Thailand Privilege Card Co (TPC), operator of the Thailand Elite Card, will enlist a property developer to help begin selling new memberships from next month.
The Tourism Authority of Thailand (TAT), sole owner of TPC, is in talks with three major developers to select one as a partner.
TPC has set a target to sell at least 200 co-branded membership cards with the developer over the next six months.
The relaunched Elite Card will now be available in two flavours – regular and co-branded.
The membership fee for a regular card is B2 million for 20 years, while the fee for a co-branded card is B1 million.
The annual fee is B20,000 for both types.
Wilaiwan Tawitsri, a board member and acting president of TPC, said the company will relaunch the Elite Card with a “Money Can’t Buy” campaign on May 30.
Regular cards will be sold through the network of TAT offices and sales agents around the world.
The target for the Elite Card’s regular flavour is set at 1,300 members by the end of next year.
Marketing and sales for the co-branded card will begin next month. Co-branded cardholders must be individuals and are required to invest in Thai properties.
Once the hold the card they will be entitled to a five-year visa – good for up to one year’s stay following each arrival – and accelerated immigration services at airports.
They will not, however, get all the other golfing and spa discounts applicable with the regular card.
“The property developer chosen to be the TPC partner will receive no commission from selling Elite Card memberships,” said Ms Wilaiwan, “But the card will become an interesting new marketing tool to attract foreign investors to invest in the property business.”
The Elite Card was launched in 2003 on the orders of the then-PM, Thaksin Shinawatra, who foresaw a million cards being sold. In the past 10 years, however, only 2,534 people have bought them and lawsuits are pending after the validity of the cards was reduced from lifetime to 20 years.
Last year the government earmarked B100 million in a “last chance” attempt to revive the card.