Govt approves 10 year visas for foreigners over 50

[elgordo38]

1 hour ago, Jonathan Fairfield said:

Athisit said. It was not immediately clear when the plan would be implemented.

This phrase sounds familiar

[LivinLOS]

1 minute ago, smedly said:

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.

 

I TOTALLY agree with you thats the likely outcome.. 

 

However the bangkok post is kind of saying this is a change to the existing extension not an as well as.. 

 

I dont believe that to be accurate reporting.. Just saying thats what the BPost says. 

 

[Mook23]

27 minutes ago, soalbundy said:

don't bait him or he will start boasting about his car and his Hi-So girlfriend

Hiso from rural buriram. And 21 year old benz... 555 i know that kin. Rich people dont brag about it on some loso www forum cuz they are too busy drinking champagne in their yachts while giving orders to their housekeepers...?????????????

[smedly]

1 minute ago, justaphase said:

So the changes have begun...

Stop spreading nonsense, this is an additional option and possibly an improvement for some

 

Too much silliness in this topic

[acid thunder]

3 minutes ago, Nerone said:

WE SHOULD PACK AND GIVE THE MIDDLE FINGER TO THIS CRAP...unfortunately many has family, children

 

I'm glad we went in the other direction, LOS to UK.  Wife now a British citizen with the all important British passport.  We come and go as we please.

[chiang mai]

8 minutes ago, LivinLOS said:

 

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 ?? 

 

You start at age 50, work within the system through age 60, things change by age 70 but people adapt and then, when complacency has set in deservedly so (IMHO) potentially you have to leave - that's why, it's human nature.

[Denim]

Well ......that's the affluent foreigners taken care of.

 

Now then ....... any good news for us effluent riff raff ?

 

Thought not.

[acid thunder]

1 minute ago, smedly said:

Stop spreading nonsense, this is an additional option and possibly an improvement for some

 

Too much silliness in this topic

 

You say that, but reading the Bangkok Post article would infer something entirely different.

[chiang mai]

4 minutes ago, smedly said:

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. 

 

You think, you hope!

[bubba1]

3 minutes ago, Peterw42 said:

 

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

The 800K is meant to be spent but the 3,000,000 can't be touched so a term deposit might be OK. Who knows.

[carstenp]

1 hour 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.

Hmm Read again

 

Quote

It would replace one-year renewable visas and come in two installments of five years each, Athisit said. It was not immediately clear when the plan would be implemented.

 

[sprq]

1 hour ago, Anthony5 said:

 Are you a troll?

 

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

I think you'll find it's sarcasm. In other words, he agrees with you.

[justaphase]

2 minutes ago, smedly said:

Stop spreading nonsense, this is an additional option and possibly an improvement for some

 

Too much silliness in this topic

I didn't know it was additional. If it is there's no point in it if you still have to report 90 days.

I'm 45 and have worked here for 15 years so it doesnt affect me. I still think there will be big changes though..

 

[MrMuddle]

What no one has mentioned is that Thai Banks only guarantee deposits up to 1 million Baht, per Bank.  Are they going to amend the law on that too ? Or do they expect people to happily take such a big risk ?

[dick dasterdly]

5 minutes ago, Straight8 said:

 

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.

 

 

800,000 annual income is not a low income for Thailand.

 

Those of you who are better off obviously think getting rid of the majority (?) of us would be a good thing - but I doubt the various people and companies I pay or employ would agree.

[TerrylSky]

Gee... thanks for nothing. I thought they were modifiying their policy when I read the headlines; wishful thinking. Immigration continues to dissuade and make it difficult for people to live here, do volunteer work, - and spend their money. Thanks to the existing policy, I've been introduced to Laos more and more; and other grateful countries too. I love Thailand, but they don't have me by the balls by a long shot. Just got another visa today, and was wondering why I'm even going back.

[LivinLOS]

Just now, sprq said:

I think you'll find it's sarcasm. In other words, he agrees with you.

 

 

Not one bit of it.. 

 

I think anyone who considers retiring, and living for any length of time, who doesnt have 100k a month coming in.. Is in for a very disappointing retirement in Thailand !! 

 

Just look at the rising cost of living here.. Extrapolate that 5 or even 10 year down the rd. For someone at 50 they have potentially 30 years of health in front of them. 

 

 

 

[chiang mai]

Just now, MrMuddle said:

What no one has mentioned is that Thai Banks only guarantee deposits up to 1 million Baht, per Bank.  Are they going to amend the law on that too ? Or do they expect people to happily take such a big risk ?

 

15 million, not 1 million.

[Jingthing]

6 minutes ago, acid thunder said:

 

You say that, but reading the Bangkok Post article would infer something entirely different.

Yeah, and if my theory is correct, which I don't want it to be but suspect that it is, Thailand is basically copying MALAYSIA's program. Quite high requirements. No other option. So if true (dark news for many of us) then we need to know about either potential grandfathering of the oldies OR some kind of civilized timed phase out plan so we have to time to leave in an orderly fashion. I think five years to leave would be quite civilized. One year would be atrocious. In other word, if this is a replacement program and they said, OK, you can still do the one year thing at the current levels for FIVE MORE YEARS, then I think most of us could handle that calmly. 

Edited November 22, 2016 by Jingthing

[Morakot]

32 minutes ago, JLCrab said:

that $10,000 annual insurance requirement would seem to leave out the self-insured crowd.

 

Who has medical insurance in excess of THB 350,000 p.a?

 

Not even your average Thai super rich HISO person has that...

[elgordo38]

10 minutes ago, greenchair said:

 

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. 

First comment that makes sense. If we would need medical coverage forget it and they  have no wish to provide it. 

[aguy30]

Sounds like another not so well thought out plan. Not really good news for most people. Totally out of proportion to the Thai economy. The typical middle class Thai makes less than 200,000 baht a year.

 

Health insurance is difficult to get at 60. Very difficult at 65, extremely difficult after 70 and impossible with serious pre-existing conditions. Maybe the government needs to pass a law requiring insurance companies to provide good insurance at a fair price for retired farang.

 

Most people don't even have a total of 3 million baht. (Good luck in the future with trying to get it out of Thailand) Absurd amount if they are serious about a 10 year option. No mention of applying regular pensions.

[elviajero]

8 minutes ago, smedly said:

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. 

I agree.

 

Having read several sources now it seems that they are talking about replacing the 1 year Non Immigrant 'O-A' visa with a 10 year option, and it's nothing to do with the existing 1 year extensions of stay.

[LivinLOS]

Just now, Morakot said:

 

Who has medical insurance in excess of THB 350,000 p.a?

 

Not even your average Thai super rich HISO person has that...

 

 

Isnt even the basic medical cover like 800 - 1 mil ?? 

 

I self insure.. Have the funds and access to them to do so.. But when I looked at even low end bupas etc it was this way. 

[bubba1]

2 minutes ago, Jingthing said:

Yeah, and if my theory is correct, which I don't want it to be but suspect that it is, Thailand is basically copying MALAYSIA's program. Quite high requirements. No other option. So if true (dark news for many of us) then we need to know about either potential grandfathering of the oldies OR some kind of civilized timed phase out plan so we have to time to leave in an orderly fashion. I think five years to leave would be quite civilized. One year would be atrocious. 

How many times have you mentioned Malaysia? Maybe when you leave Trump will get you a job and you can save up and come back.

[sjaak327]

25 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?

They might, as long as people already on the old terms are not thrown out, because that would be utterly shamefull.

 

I personally believe Thailand should not aim to hard, if you pay peanuts, you get monkeys.

Edited November 22, 2016 by sjaak327

[soalbundy]

I will wait for Ubonjoe on this one

[Si Thea01]

1 hour ago, acid thunder said:

 

Not complex at all.  Just totally out of reach.

 

Not out of reach for some of us. But I hope it comes in soon as I could fall of the perch in the next ten years, given that I'm well and truly over the 50 year minimum. 

[MrMuddle]

3 minutes ago, elviajero said:

I agree.

 

Having read several sources now it seems that they are talking about replacing the 1 year Non Immigrant 'O-A' visa with a 10 year option, and it's nothing to do with the existing 1 year extensions of stay.

Can you clarify further ? I'm on a retirement extension, which I believe is "O". There are other extensions, that are "O-A" ?

[timewilltell]

24 minutes ago, seancbk said:

 

 

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).

 

 

Well not being funny but if it is not intended for people staying here but for people coming for medical services - why would such a person with pocket money of 3 million they can afford to dump in a dodgy Thai bank want to do that so they can use the hospitals here - that does not add up at all.  It seems another crackpot idea badly copied which Thailand is so good at - take something workable and make a complete hash of it.  And if it is for people who intend to live here it still does not make sense because you would need a lot of disposable income to set aside 3 million assuming you want to buy a place to call home - a condo hovel somewhere.  Oh it just gets my goat everytime - this place is sunny and THAT is about it.