The residence visa obtained through the Thailand Elite Residence Program does not lead to permanent resident status or citizenship because it is not classified as a non-immigrant visa.
In order to apply to become a Thai permanent resident, applicants must have had a Thai non-immigrant visa for at least three years prior to the submission of the application, and must have three consecutive yearly extensions in order to qualify. The applicant must also be a holder of a non-immigrant visa at the time of submitting the permanent residence application. An application for citizenship can be filed to become a Thai naturalized citizen after holding permanent resident status in Thailand for 10 consecutive years. Thailand does not recognize dual citizenship, but there are exceptions.