Govt approves 10 year visas for foreigners over 50

[RIC23]

This is 2 x 5 year visas not a 10 year visa & what about those of us with a Work Permit ?

[mcfish]

Thing is, when you make the sensational OP based on little information you will miss some important informations.
 
I guess, after the visa is granted in his own country (of the selected nationalities)
the applicant will have to be given some special government or monitored account. 
 
Then then must deposit the funds into this account before they enter.
I guess in this way they will be able to monitor how the money is managed according to their requirements of staying in account for 1 year.
 
What i find interesting is not the visa or requirements, but they will ( yes THEY ) will prevent you using your own money, and force you to spend half of it in Thailand.
 
(What if on you need the 3mill in the first year for hospital bill)??
 
Which also means:
-if you dont spend half of the money Thailand it will be seized due to non compliance
OR 
The government instruct the banks that under no cicumstance can a farang withdraw 1.5 million to his own country account.
 
As always the proof of the eating is in the fine print.
They say now, but then later it is impossible to do.
 
Typical Thai sensational over-reporting and way to early.
 
Just like police in a major crime..report many details they shouldnt and state they have 80% solved the case.lol
 
 
 

Now that makes sense! The OP makes very little sense and would in fact destroy hundreds of thousands of families as farang is forced back home

Sent from my SC-01D using Tapatalk

[siam2007]

5 hours ago, digibum said:

 

$3,000 USD is a lot of money in retirement?  Americans are probably the least looked after workers in terms of government benefits and pensions (social security).  The top end of the social security system pays out over $3,000 USD if you wait until you're 65.  

 

Now, if you decided to take an early retirement the government is going to pay you substantially less.  If you didn't save or invest anything for the previous 50 years on this planet, well, yeah, you probably don't have much monthly income.  

 

But the point is, why does Thailand owe anyone a cheap cost of living in their retirement?  Hey, I feel for those who for whatever reason can't meet those income requirements but maybe they should be back in their own countries and taking advantage of whatever benefits the governments there offer rather than trying to scrape by in a country that already has its own poverty problem. 

 

 

My country is one where social security is actually excellent, yet I am very sure 95% of the retirees get less than 100K a month. My father was a Tax adviser, self employed for decades and successful, he paid large amounts of money himself to ensure a retirement plan. Yet what he got when he retired was just 1800 Euro a month. Now as he passed away, my Mom only gets 800 Euro a month. Plus you have to acknowledge that this new rule needs to be applied to all nationalities, not just US nationals. What about those folks from, let's say Eastern or Southern Europe, South America, South Asia, who want to live here in Thailand too after they retire? The old rule was reasonable, the new rule is completely out of this world. Could have actually been Thaksin creating this, so unrealistic it is

[Millman]

The news is encouraging if true.

Let us hope that the rules of eligibility are firmly set throughout the land and no sway to local districts to change their interpretation.

Not unreasonable for the Thai government to want higher earner/ spenders on long term visas.

I wait with baited breath!!

[maoro2013]

2 hours ago, boomerangutang said:

 

I agree with all but the last half of your closing sentence.  Thai gov't wouldn't take house from a Thai woman.

 

 You're assuming the current annual deal will continue.  I hope so, but right now, it's unclear.

Yes I hope so to, but I didn't see that the old method was being abandoned, but I certainly hope not or I will need to sell one of the farms or more.

[ThaiWai]

2 hours ago, ThaisGood said:

Just curious, US$100,000 in the bank is not that high for someone who has real estate in farangland then sells it to move to Thailand. I should think.  But many say it is totally out of reach.  What kind of assets do most longterm farang have in Thailand?  Is it mostly retirement such as Social Security monthly check but nothing in the bank?

 

Just curious, what does any of this OP or thread have to do with US$100,000?

[Peterw42]

3 minutes ago, Millman said:

The news is encouraging if true.

Let us hope that the rules of eligibility are firmly set throughout the land and no sway to local districts to change their interpretation.

Not unreasonable for the Thai government to want higher earner/ spenders on long term visas.

I wait with baited breath!!

 

You get a Visa outside Thailand, in your home country, local interpretation will not apply.

[robertson468]

Wonder if there will be a reduced sum either in the bank or monthly earning for those married to Thai Nationals, as is for the present one year Visa?

 

[meatboy]

i for one wont bend down to be shafted by any goverment.for over 33yrs.i have played by their rules and spent a fair few bob here.

i dont mind paying maybe 100,000bht.for 10yrs.my retirement extension money hasnt been touched for the eight yr. so thats as much they will get out of me.

and all those crawling out of the woodwork saying i have got this and got that,well i heard enough of these boarsting about it a very long time ago. 

[Peterw42]

1 minute ago, robertson468 said:

Wonder if there will be a reduced sum either in the bank or monthly earning for those married to Thai Nationals, as is for the present one year Visa?

 

 

I hope so, but its still more money than I want to have locked up in Thailand. Its not that easy to take it back out.

[ThaiWai]

16 hours ago, Anthony5 said:

 Are you a troll?

 

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

 

I retired at 45 and my pension is double that.  How many people like me planned ahead?  IDK.

[wealthychef]

18 minutes ago, bamukloy said:

 

It changes absolutely nothing for you. If reported today it will take months if not a year or so.... 

Once again, you will not find anything solid in Thai or English as its to early stage for this

 

I think I will finally walk away from this thread and get back to more pressing matters, such as playing my stupid phone game.  Thanks!  

[Old Croc]

This thread indicates there may be potential major changes in visa/permit conditions for many expats here.

 

However, any actual information, and updates, have been buried under a 35 page avalanche of conjecture, drivel, hysterical rants,  jealousy, despair and .the need of some to discuss self only.

 

Would it be possible for Management to separate the real information from the rest in a new semi-closed thread and pin it?

[Kerryd]

15 minutes ago, ThaiWai said:

 

Just curious, what does any of this OP or thread have to do with US$100,000?

 

One of the requirements for the new "visa" will be to have 3,000,000 baht locked into an account for 1 year.  $100,000 US  is a fair bit more than 3 mil, but 3 mil baht would be over $113,000 in Aus or Can dollars).

Edited November 23, 2016 by Kerryd
Changed sentence structure and wording and added fluffy unicorns to the narrative.

[harleyclarkey]

 

The 3 mill in the bank and the 100k salary is not unreasonable .....IF the intention is to go upmarket.

 

What about property rights if they allow a (renewable?) 10 year visa?

 

I guess they will also have other options??

Edited November 23, 2016 by harleyclarkey

[puukao]

7 minutes ago, ThaiWai said:

 

I retired at 45 and my pension is double that.  How many people like me planned ahead?  IDK.

 

are you fluent in Thai?

Able to run and bike up every mountain in Thailand?

Will the world remember you in a positive way?

Will you give me money so you feel good about giving?????

 

Money metric is easy......i will retire with over a million USD, not hard.

 

But you must also be fit, smart, and lucky...

 

important to plan ahead with mental and physical health as well!!!!

 

:)

[ThaiWai]

1 minute ago, Kerryd said:

 

One of the requirements for the new "visa" will be to have 3,000,000 baht locked into an account for 1 year.  That's a bit more than $100,000 US (but would be over $113,000 in Aus or Can dollars).

 

That would be 3,500,000.  I usually don't round off my half-millions.  3 mil would be $84,000 US.  

[Kerryd]

Just now, ThaiWai said:

 

That would be 3,500,000.  I usually don't round off my half-millions.  3 mil would be $84,000 US.  

 

Yeah I didn't word that correctly.

The other poster may have also been referring to the alternative "100,000 baht per month" income threshhold and typed $100,000 US instead ?

[Peterw42]

Seems this thread is a great opportunity for some, to tell us all how rich they are. Well done, we are all very impressed. We didnt all retire at age 20 and now have a pension equivalent to a doctors salary.

 

 

[ThaiWai]

1 minute ago, puukao said:

 

are you fluent in Thai?

Able to run and bike up every mountain in Thailand?

Will the world remember you in a positive way?

Will you give me money so you feel good about giving?????

 

Money metric is easy......i will retire with over a million USD, not hard.

 

But you must also be fit, smart, and lucky...

 

important to plan ahead with mental and physical health as well!!!!

 

:)

 

You are drifting off the thread.  We are talking about why it's so unbelievable that people could make a pension of 100,000 thb monthly. Based on your comment you may wan't to refocus on the mental goal aspect of your retirement plan.  You seem to be slipping in that area.

[i claudius]

After reading the article and ,reading some of the alarmist rubbish on here , i am off for dinner ,

this looks like just another spin on the elite card , do any off you honestly think that the Thai govt are going to force thousands of "Farangs" onto planes leaving behind their wives and kids ,with the western newspapers taking picture of the weeping hordes of family members crying as their husbands and fathers are booted out? never to be seen again , even they are not that stupid.

[Anthony5]

12 minutes ago, ThaiWai said:

17 hours ago, Anthony5 said:

 Are you a troll?

 

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

 

I retired at 45 and my pension is double that.  How many people like me planned ahead?  IDK.

 

So about answering the question, HOW MANY people will have that? As far as I'm aware the amount of your pension is not planned by you, it determined by the job you had in real life.

 

What means IDK?

[Scott]

8 minutes ago, Old Croc said:

This thread indicates there may be potential major changes in visa/permit conditions for many expats here.

 

However, any actual information, and updates, have been buried under a 35 page avalanche of conjecture, drivel, hysterical rants,  jealousy, despair and .the need of some to discuss self only.

 

Would it be possible for Management to separate the real information from the rest in a new semi-closed thread and pin it?

When more information is available, we will make sure it is posted.   As a general rule, the news team does not update an existing thread, but will start a new one.   That's not always the case, but I suspect it would warrant a new thread.   Right now all members can do is speculate and give various scenarios.  

 

Sorry I can't be more helpful at this point.  

[LannaGuy]

26 minutes ago, siam2007 said:

 

 

My country is one where social security is actually excellent, yet I am very sure 95% of the retirees get less than 100K a month. My father was a Tax adviser, self employed for decades and successful, he paid large amounts of money himself to ensure a retirement plan. Yet what he got when he retired was just 1800 Euro a month. Now as he passed away, my Mom only gets 800 Euro a month. Plus you have to acknowledge that this new rule needs to be applied to all nationalities, not just US nationals. What about those folks from, let's say Eastern or Southern Europe, South America, South Asia, who want to live here in Thailand too after they retire? The old rule was reasonable, the new rule is completely out of this world. Could have actually been Thaksin creating this, so unrealistic it is

 

ahh Thaksin...

[brewsterbudgen]

47 minutes ago, mcfish said:

This is going to kick out 90% of all pensioners. Chiang mai will be a ghost town with tumble weeds

Sent from my SC-01D using Tapatalk
 

 

How can anyone be "kicked out"?  It's about a visa requirement, which enables you to enter a country.  Nothing to do with Extensions of Stay.

[DavisH]

32 minutes ago, siam2007 said:

 

 

I hail from what is considered a wealthy country. For sure 95% of the retirees get LESS than 100K a month. This plan is completely nuts

The regular Australian pension is around 40-45K a month. Unless someone a big superannuation payout or other investments coming it. I'd like to know which countries pay an old age pension in excess of 100K baht a month. 

[ThaiWai]

2 minutes ago, Kerryd said:

 

Yeah I didn't word that correctly.

The other poster may have also been referring to the alternative "100,000 baht per month" income threshhold and typed $100,000 US instead ?

 

Now you've got it 

[smedly]

This thread is unbelievable, it is amazing how many people read stuff then add their own narrative and get into a wild panic making stuff up that isn't there.

 

Lets imagine for a moment there was no such a thing as a Thai Elite Card and this topic was about its introduction, the thread would still have developed almost identical to this one with all the imaginary doom and gloom that has developed here .......................too funny

[DavisH]

1 minute ago, ThaiWai said:

 

Now you've got it 

3 million in the bank would also be about 100K US dollars.

[Thaidream]

There is no indication that a simple Non O visa is being phased out and cannot be obtained.  The only thing I gather is that this is another Visa Class- When issued the expiration date on the Visa wil be 10 years hence. Right now the End date of the O-A visa is 1 year. The only issue is whether there will be a change for the regular O Visa that is extended in Thailand for retirement purposes.

 

If so, I would expect it would apply to new extensions after a certain date. I would also expect that there will be grandfathering- if you already have a retirement extension the requirements would be the same as when you initially applied and were granted the extension. This has happened twice before- the first time at 200,000 Baht per year/20K per month and the second at 500,000 Baht/50K per month. There are still people in Thailand on retirement extensions getting them at those financial requirements and not the 800K current requirement. Remember, it i the Ministry of Foreign Affairs that set the Visa requirements and then a Police Order that is formally isued explaining the requirements for extensions to include the financials.