Govt approves 10 year visas for foreigners over 50

[dick dasterdly]

6 minutes ago, LivinLOS said:

 

65k a month income or 100k a month income ?? 

 

Really, anyone thinking of retiring here, at the rate at which this country is developing and the surge in middle class, the rising incomes of the young professionals, the rising cashed up society.. And dont have 100k a month coming in or planned.. Is looking at a very risky 15 - 20 year future.. 

The problem is that many of us who have been living here for a few years within the existing requirements, are worried that they are about to increase dramatically - which would leave us up sh.t creek without a paddle.

 

But I agree.  There have been a few threads about having an 'exit strategy', and this is just another example as to why an exit strategy is becoming necessary .

[bubba1]

 Excellent news. If you can't afford 3 million you should go back to work in your home country.

 

[BarnicaleBob]

For me, the 100,000 baht income or 3 million in the bank is ok, but the $10,000.00 health insurance may be out of the question as I have been turned down by every company I've applied to.   I wonder if they would settle for $10,000.00 in a Thai bank if one could not get insurance?

[Peterw42]

2 minutes ago, mstevens said:

 

Human tragedy?  Such hypebole.  There are other countries....you can get a 1-year visa in Cambodia for around $300 per year and don't even have to do 90-day reporting.  There are options!

 

Can I take my condo,lol

[chiang mai]

Just now, mstevens said:

 

Human tragedy?  Such hypebole.  There are other countries....you can get a 1-year visa in Cambodia for around $300 per year and don't even have to do 90-day reporting.  There are options!

 

There are few if any options for 70/75 year olds who have lived here for twenty/thirty years and have families plus all their assets and nothing anywhere else. Hyperbole

my a r se, just put yourself in their place for a moment and think about it before typing. One year visa's in Cambodia and for gamers and chancers who are much younger and have no roots, not for the people I describe.

[seancbk]

29 minutes 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. 

 

 

Because they want old blokes with medical issues who are going to spend money in Thai hospitals.

The article clearly stated it is "Intended to promote Thailand as a hub for medical services"  

I don't think they even intend this to be for living here, but rather for people to visit regularly.   

The 'salary' requirement is I reckon the persons salary in their home country, not their salary in Thailand.  

It sounds like the requirements for an METV.    Proof you are employed in your home country, proof you have money in the bank (in your home country).

 

[chiang mai]

3 minutes ago, bubba1 said:

 Excellent news. If you can't afford 3 million you should go back to work in your home country.

 

 

Talk to us again when you reach 75 and see if you still have the same views.

[Morakot]

1 hour ago, Crossy said:

It would be really nice to only have to visit immigration every 5 years, but I'm not going to hold my breath.

 

Are they just going to "announce" the ThailandElite scheme?

 

 

 

Quote

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.

 

[mstevens]

55 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.

 

Be that as it may, but maybe, just maybe, Thailand has decided  it only wants what it considers to be wealthy foreigners retiring in their country?

[jspill]

BK Post saying the 'one year system wil be extended to ten years' or words to that effect - sounds like a total replacement.

 

10k baht fee for the visa too. 

 

Good luck to the over 50s

[LivinLOS]

2 minutes ago, chiang mai said:

 

There are few if any options for 70/75 year olds who have lived here for twenty/thirty years and have families plus all their assets and nothing anywhere else. Hyperbole

my a r se, just put yourself in their place for a moment and think about it before typing. One year visa's in Cambodia and for gamers and chancers who are much younger and have no roots, not for the people I describe.

 

But why would anyone put themselves into such a precarious position.. 

 

If a country is only giving you <1 year at a time permissions to stay, who would sink all their eggs so deeply into that basket ?? 

[bubba1]

2 minutes ago, chiang mai said:

 

There are few if any options for 70/75 year olds who have lived here for twenty/thirty years and have families plus all their assets and nothing anywhere else. Hyperbole

my a r se, just put yourself in their place for a moment and think about it before typing. One year visa's in Cambodia and for gamers and chancers who are much younger and have no roots, not for the people I describe.

It was your decision to break ties with your home country in a place where you don't have permanent residence. The rules can change.

[Peterw42]

6 minutes ago, bubba1 said:

 Excellent news. If you can't afford 3 million you should go back to work in your home country.

 

 

Most can probably afford it, but like me, thats a chunk of money sitting around not earning interest

[SpokaneAl]

 
 
Sorry, I did not read that sentence, that's ludicrous, they are shooting themselves in the foot if true.

In that they are often loose and free with their definitions of terms, it seems that maybe suggesting an extension of stay vs. a visa that must be obtained via a Thai Embassy or Consulate in one's home country.




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[alanrchase]

Bangkok Post reports the "visa" will cost 10,000 baht.

[chiang mai]

18 minutes ago, JLCrab said:

So this is all way preliminary but that $10,000 annual insurance requirement would seem to leave out the self-insured crowd.

 

Not really, it just seems that we merely (MAY) have to invest our reserves, before our individual expiry dates, it;s still a huge financial win over time..

[Ozfatboy]

There another take on this story on another online news source that we can't link too.

Has a little for information and somewhat clearer.

Edited November 22, 2016 by Ozfatboy

[bubba1]

1 minute ago, Peterw42 said:

 

Most can probably afford it, but like me, thats a chunk of money sitting around not earning interest

Who said it can't earn interest?

[metisdead]

Quote

Can we link and or quote the Bangkok post ?? 

 

No you cannot as per this forum rule:

 

26) The Bangkok Post and Phuketwan do not allow quotes from their news articles or other material to appear on Thaivisa.com. Neither do they allow links to their publications. Posts from members containing quotes from or links to Bangkok Post or Phuketwan publications will be deleted from the forum.

 

These restrictions are put in place by the above publications, not Thaivisa.com
In rare cases, forum Administrators or the news team may use these sources under special permission.
 

[LivinLOS]

5 minutes ago, mstevens said:

 

Be that as it may, but maybe, just maybe, Thailand has decided  it only wants what it considers to be wealthy foreigners retiring in their country?

 

Also the speed at which Thailand is changing in its cities is amazing.. Go out in Chiang Mai now and the disheveled low rent Loy Kroh westener side of town looks like the poor country cousin to the Thai yuppie niman side.. Empty bars selling 100b leos staffed by rough old grannies v ram packed with a 20 minute queue for a chair in a beer lab or beer republic where craft beer is 300 plus a pint.. Em in namtons was selling a 4xx something saison and they are rammed there too.

 

Anyone who thinks Thailands not rapidly advancing past western money, and who doesnt have a strong plan in place to deal with that.. Is in for a rude awakening.  

Edited November 22, 2016 by LivinLOS

[moonseeker]

Super simple, easy and affordable "retirement-conditions" at a low age limit of 50, compared with most countries, here in Thailand. Not even getting into good tax situation etc. Americans can tell you a bit about this!  Anybody with some common sense has a GOOD health insurance and I can tell you from many, many cases I have followed:

10'000 $ is gone in no time, if you end up with serious trauma-injuries, cancer, emergency heart surgery, a bad stroke or similar in a good hospital. A night in ICU in any of the top-hospitals with basic  treatment incl. - not talking surgery, re-animation or such, will set you back 50-75 K. per day. 

The slogan: "i just fly home, when I get ill, unfortunately often does not work out as planned. Sad sight to see "abandoned, broke, old 

foreigners in the public section of an any public hospital. I certainly prefer to pay top $ for top insurance and was happy to be able to

fly to Singapore for second opinion and then on to Europe for surgery after cancer hit me twice within weeks and several major surgeries hat to be performed.  There is much wrong here, but the visa conditions  IMO are quite acceptable & I have always received friendly service from immigration for almost 20 years. Stay healthy & happy!  MS>

 

[MisterTee]

10 minutes ago, mstevens said:

 

Human tragedy?  Such hypebole.  There are other countries....you can get a 1-year visa in Cambodia for around $300 per year and don't even have to do 90-day reporting.  There are options!

Yes, there are options in other countries but none of them look good to those of us who have been here for a long time with our Thai wife and children.

[Nerone]

1 hour ago, DiamondKing said:

3 Million in the Bank and you cant touch it for 1 year after the visa is issues or 100,000 in salary coming in every month 

ITS A JOKE 

What the &lt;deleted&gt;...

people just read here, this is a serious program from the governement, you have to invest approx 4 and half million baht in a house OF YOUR own PROPERTY, you got 10 years visa, access at the local hospital etc...if you don't like the oppressive atmosfere of peninsular Malaysia i cn grant you that in Sabah and Sarawak i met the most interesting people of ASIA. WE SHOULD PACK AND GIVE THE MIDDLE FINGER TO THIS CRAP...unfortunately many has family, children etc...

http://www.mm2h.com/?keyword=malaysia second home&gclid=CMKBvpqwvNACFdQSaAodKrsB9A

[Straight8]

57 minutes ago, sjaak327 said:

 

 

Sorry, I did not read that sentence, that's ludicrous, they are shooting themselves in the foot if true.

 

How so? By not letting  people retire on a low income or low assets in this country.

 

I would hardly call that shooting themselves in the foot.

 

 

[justaphase]

So the changes have begun...

[greenchair]

1 hour ago, eeworldwide said:

I suspect a great many things are going to change in terms of visas for Thailand in the coming year.

 

Would it be wishful thinking to hope that they might implement a realistic visa scheme for those who have married thais and have dependants here? Like, oh - every other country in the world?

 

Get rid of the stupid 3 month check in for a start and issue 5 year visas for those married to a thai national with thai dependants.

 

 

 

 

 

I have been married to a Thai national for 20 years. 

I have put two step children from grade school through to university. 

I currently have a thai child from birth, but not my own, that I pay a very expensive education using all of my funds. 

Still, I can't work legally and go to immigration every year. 

Unbelievable really. 

[chiang mai]

2 minutes ago, bubba1 said:

It was your decision to break ties with your home country in a place where you don't have permanent residence. The rules can change.

 

Firstly: this is not about me.

 

Secondly: my ties with my home country are just fine, thanks!

 

Thirdly: others are potentially in a much worse position in the future as a result of this, people who are 75 years old. Think about that.

[smedly]

I think people need to wind their necks in here and stop trying to fill blanks that aren't there.

 

This is not an annual Extension replacement which only works for 1 year, there is no mention of it in the article and it certainly doesn't fit the purpose. So stop speculating nonsense.

 

There might be a few people that this visa option suits, those that are well off and don't like the hassle of renewing those pesky extensions every 12 months or applying for O-A visa in their home country or paying through the nose for an Elite Card every 5 years. I suspect the Elite Card uptake is not that high anyway with the over 50's.

 

The 12 month extension isn't going anywhere and will still cater for those that are retired or married with families. 

[Peterw42]

2 minutes ago, bubba1 said:

Who said it can't earn interest?

 

The current 800k earns little to no interest as it cant be put in a term deposit, I presume the 3,000,000 would be the same

[guzzi850m2]

For me working in oil-offshore this is good news but I hope for the retired guys that the "old" 1 year with 800k (or 40k pension) will still be in force.