Govt approves 10 year visas for foreigners over 50

[khunJeroen]

10 years is great indeed. It is reasonable Thailand asked healthy financials in return.

[dick dasterdly]

Just now, Generalchaos said:

Loads of KNEE JERK reactions yet again.

 

From the original post, there is nothing there that suggests that there is going to be any changes to the normal 1 year extensions. This looks more like some sort of scheme to promote the Gold / Elite Card scheme rather than any change to the existing marriage and retirement extensions.

I hope you're right, but the current financial requirements have been in place for many years and I've been vaguely wondering when they would be increased .

[LivinLOS]

2 minutes ago, Generalchaos said:

Loads of KNEE JERK reactions yet again.

 

From the original post, there is nothing there that suggests that there is going to be any changes to the normal 1 year extensions. This looks more like some sort of scheme to promote the Gold / Elite Card scheme rather than any change to the existing marriage and retirement extensions.

 

 

Exactly how I read it.. 

 

The existing annual extensions and hassle for those on tighter budgets.. A more long stay and secure situation for those who can pump some actual money into the economy. 

 

Win win. 

[anon467367354]

what's the difference and what would the benefit be if this is still an issue, being treated like you can't be trusted, therefore...  "Visa holders will still have to check in every 90 days with the Bureau of Immigration, Athisit said."

[elviajero]

23 minutes ago, sjaak327 said:

Seems to be reasonable, even though the cost of the visa itself has not been revealed yet.

It will be an extension of stay, not a visa. All extensions cost 1,900 and I doubt they would increase the fee for this new one.

[AsiaCheese]

28 minutes ago, acid thunder said:

Hmm, well, on closer inspection it doesn't seem to be quite all singing all dancing.

 

Seriously, what good would that do? Save 10x a few hours (at most) at immigration over the next 10 years, but having to commit/lock 3mio Baht for 1 year instead, and somehow making sure that 100k/month inflow won't ever get interrupted over the next 10 years? And they might just get ideas to "inflation adjust" that at some future point in time.

 

Thanks, but no thanks. I'm fine with (and see a good reason for) that 800k deposit or 65k/months show for a yearly extention, at a very polite and competent all-smiles immigration office (Jomtien).

[Chip Allen]

This simply means that I will have to move to Cambodia as I only make a piddling 87000 Thai baht per month. Nice way to wreck my retirement plans. Nothing like greed and stupidity mixed with government.

[dick dasterdly]

Just now, LivinLOS said:

 

 

Exactly how I read it.. 

 

The existing annual extensions and hassle for those on tighter budgets.. A more long stay and secure situation for those who can pump some actual money into the economy. 

 

Win win. 

It will probably come as a shock to you to learn that some of us on retirement extensions are also pumping money into the economy - namely our retirement incomes.

 

You may think that those of us whose retirement income meets the current requirement (but isn't 100,000 bht p.m. - particularly with current exchange rates) are undesirables, but that's your judgmental attitude towards those with less than yourself.....

[Mook23]

13 minutes ago, Wilsonandson said:

Great news! You need 70,000 pounds in your bank account for one year or earn 2,500 pound a month.
Then you can get a 10 year visa. I think I'll stick with the non-imm O visa. Call me a cheap skate but...

I spend approx 25.000thb a month when in los. Housing is free. Sex is free. Large leo is 55thb at my local "bar". I drive a pushbike. Yet i spend easily DOUBLE than most locals i hang out with who earn 10000-18000thb a month ??so im quasi-hiso 555

[johnno2]

19 minutes ago, LivinLOS said:

 

 

It would 'replace' the retirement visa for folks currently using it, who wish to have a 10 year visa (or more likely extension).. Not remove the option totally.. Is how I read it. 

Anyway bring it on.. If if gets rid of some of the moaners and penny pinchers.. Thailand is no longer cheap, 300 baht yuppie beers and fashionable sets.. Get rid of the chang singlet contingent and I dont think Thailand is going to cry a river. 

but but but I like my chang singlet

[Cuchulainn]

.......... Applicants must either earn a monthly salary of at least 100,000 baht or have more than 3 million baht in their bank account, which cannot be withdrawn within the first year after receiving the visa. They must also have health insurance that covers hospital stays and provides at least USD$10,000 in annual coverage ...........

 

Yes, but how much will the actual visa/extension cost?

[acid thunder]

22 minutes ago, LivinLOS said:

 

they have made it clear its designed for more affluent folks.. Seriously a 10 year visa and all you need is 100k a month ?? Score !! 

 

Who doesnt spend 100k a month and considered themselves affluent ?? 

 

That's a sustainable 100k a month.  Doesn't last for ever.

[dick dasterdly]

Just now, Chip Allen said:

This simply means that I will have to move to Cambodia as I only make a piddling 87000 Thai baht per month. Nice way to wreck my retirement plans. Nothing like greed and stupidity mixed with government.

Change "mixed with government" to mixed with politics, and I'd agree with you.

[JLCrab]

Well from the Khaosod report linked in Post #1:

Applicants for the visa are expected to be foreigners who live in provinces such as Chiang Rai, Chiang Mai and Chonburi, the spokesman added.

So don't live there and all is the same (?)

 

[DrTuner]

The question is are they going to scrap the old 1y one for this locked-down 3M/100k a month scheme.

[Spellforce]

and half for the marry non-o visa = 1.5 millions Bahts ?

[misterphil]

Why do you have to be over 50 for this visa?

 

Im sure theres plenty of offshore workers who would use this visa if available to those under 50. 

[soalbundy]

30 minutes ago, Jingthing said:

If they are doing a Malaysia type program and totally phasing out the old system (year to year, current financial levels, no health insurance requirement) and also with no grandfathering, then this might be the biggest, most consequential visa news in many, many years. 

 

When we do know more, and if it does turn out that they are phasing out the old program with no grandfathering, I'd like to see a POLL here to ask people using the current system, about how many would be forced to LEAVE THAILAND. 

I read it as, it would replace the yearly visa for those with that kind of money.

[marcher]

It sounds like some officials have shares in insurance companies. I imagine they will make hay and make their insurance fees sky high. No option for the poor expat than to pay up

[The Deerhunter]

34 minutes ago, eeworldwide said:

Applicants must either earn a monthly salary of at least 100,000 baht or have more than 3 million baht in their bank account, which cannot be withdrawn within the first year after receiving the visa. They must also have health insurance that covers hospital stays and provides at least USD$10,000 in annual coverage.

Visa holders will still have to check in every 90 days with the Bureau of Immigration.

Hmmmm.... Sounds a bit complex for the majority! 

The only thing that would have made it worthwhile would have been if it junked the 90 day report.....but NO!  They have to keep that so we all know who is boss!!!

[Peterw42]

23 minutes ago, Jingthing said:

I don't think you get it. 

This MIGHT mean they will only allow these more affluent people to have retirement status in Thailand. Just like MALAYSIA.

How else are people to interpret the word REPLACE in the article.

If it was just another choice or option, the word REPLACE would be entirely wrong. 

Hopefully, it's just poor communication in the article but at this point we do NOT know. 

 

It say replace visa, not replace extension of stay, If you are already here doing extensions of stay, the visa you entered on, ran out years ago

[BWPattaya]

25 minutes ago, Anthony5 said:

 Are you a troll?

 

How many RETIRED people will have a SALARY of 100K a month?

 

There are many people struggle now due to the GBP to Bt exchange rate

[Andrew65]

1 minute ago, misterphil said:

Why do you have to be over 50 for this visa?

 

Im sure theres plenty of offshore workers who would use this visa if available to those under 50. 

I think one only has to be 20 years old + for the Thailand Elite visa.

[Peterw42]

1 minute ago, marcher said:

It sounds like some officials have shares in insurance companies. I imagine they will make hay and make their insurance fees sky high. No option for the poor expat than to pay up

 

How would they know if you have insurance ?

[Suradit69]

22 minutes ago, Jingthing said:

We really NEED to know if these higher financial levels for the 10 year visa will be the ONLY option. If so, I guess there will be a lot of fire sale condos soon! 

 

Well Baht 100,000 a month isn't that out of reach especially if this signals the end of annual extensions of stay ... since the US$ exchange rate would probably hit US$1 = Baht 75 as people head for the exits or the balconies.

 

I find it difficult to believe that the annual extension of stay based on retirement (and marriage) would be terminated, especially for those already here under those terms. While some harebrained ideas do surface from time to time, there are still practical people who are able to see why suddenly pulling the plug on so many people would not be a good idea for the economy, for all those providing rental properties or builders of condos, for those major retailers, etc.

 

After all they do have records of those here on retirement or marriage extensions and what sort of income most claim. I'm guessing that only a small percentage claim Baht 100,000 a month or more.

 

When they first introduced the Elite Visa I don't think they had to hire extra security for crowd control as applicants surged forth and, as far as I know, its introduction didn't result in the closing down of any legitimate alternatives. 

 

Quote

It would replace one-year renewable visas and come in two installments of five years each, 

 

What one year renewable visas is s/he talking about and what happens at the end of the second 5 year installment if you're still alive? If you repeat the process, then it's actually only a five year visa.

I don't think the person writing this up fully grasps current immigration offerings or the details for this new deal.

[khunJeroen]

18 minutes ago, sjaak327 said:

 

Sorry but there is no need for anyone to have disposable income of 100.000 baht a month. Many people on retirement could easily afford a good life style in Thailand on considerably less.

 

Same counts for many other countries but they will also not give you a visa unless you have enough money in the bank. It seems many Western people feel they are entitled to stay in Thailand even if they have little to spend. 

[dick dasterdly]

3 minutes ago, Spellforce said:

and half for the marry non-o visa = 1.5 millions Bahts ?

Surely it should be double - 6 million bht?

[Mook23]

Non-event. Retiring in Thailand is soooo passé. Most retirees i have met here stay here because it's cheap. NOT because they have 100.000thb pensions. Lol. I hope this deal here attracts all kinds of dodgy Chinese and Russian kingpins. These people have proven to have little style so they fit in quite well. ??

[Happyman108]

800000 baht 3 months for a year visa or 3 million baht a year for a 10 years visa........not surprise so many poor farang complaining, but hey you can still apply for the usual 1 year visa dude. But for those who are financially more well off are given a better choice of not going thru the yearly hassle, I'm going for it !! 

 

[johnjoensen]

It's good news if we can get 10 years visa in 2 x 5 years. When you stay in Thailand and you are over 50 years old, you should have some economic backup, and also a bit more than 30000 bath available spending every month, I look forward to see more about this new visa. There will probably be a one year visa solution as well, after they launch this new visa program.
But if the 10 year visa cost a lot of mony to get, it does not make any sense to apply for it.
But 100000 bath a month sounds good for me, so let's hope the new visa program can be applied for for a reasonable sum of money.
It will not be fair for all the foreigners who stay in Thailand, who cannot meet the economic requirements for the new visa program, if they cencelled the one year none immigrant visa, I don't think they will do that.