Govt approves 10 year visas for foreigners over 50

[dick dasterdly]

4 minutes ago, elgordo38 said:

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

Now that would be a policy that makes sense - providing reasonably priced health care coverage to 'expats'!

[chiang mai]

1 minute ago, MrMuddle said:

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

 

Effectively the same thing.

[smccolley]

I wonder how this would work as I am on an extension of stay based on marriage, but working here and have a work permit. I meet the income and insurance levels... it sure would be nice to skip the annual hassle, even though my company now does all the paperwork.

[LivinLOS]

Just now, MrMuddle said:

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

 

 

The OA is a visa class given with a few more restrictions than the easier to obtain visa O or extension based on retirement. 

 

Its a 1 year visa, with a 1 year permission of stay, so can be stretched to 1 day short of 2 years with careful use. 

 

Not really a big deal, but useful if your emabssy hands them out easily (they used to much more than they do lately). 

[bubba1]

Just now, timewilltell said:

 

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.

I never read anywhere it said it has to be in a Thai bank.

[aripengu]

let's hope it doesn't replace the 1 year one, or else time to sell everything and go somewhere else.

[aslimversgwm]

1 hour ago, LivinLOS said:

 

 

100k a month ?? Hardly setting the bar high are they ?? 

Yes they are - most pensioners here aren't getting any where near that income a month. 

At least none of my friends - me included - are. 

We're not all living off inflation proofed superannuation's, or even still working.

What world do you inhabit? You're obviously not here because it's cheaper living here than say London or NY!

[Kerryd]

11 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

 

7 minutes ago, bubba1 said:

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.

 

The 800k can be put into fixed term deposits. I've been doing exactly that for what, 8 years now I think it is. Bangkok Bank usually has some term of between 7-11 months so it can be a bit of a juggle to make sure the term has been renewed at least 3 months prior to when I need to renew my extension and so far so good. Never had a problem with Immigration about it.

The interest isn't great but the interest you can earn on 800k isn't going to be life-style altering anyways. I usually just roll the interest over and forget about it.

 

The 3 mil requirement is something different though. I could meet the requirement except that I've got the money in 4 different investment accounts that are on 4 different renewal dates. Perhaps they'd accept 1 letter from the bank (if all the accounts are in the same bank) or 1 letter per bank as long as the amounts totalled equal the requirement. 

 

I'm not going to sweat it though until they publish more actual details. Perhaps the next time people go for their renewals or 90 day reports they could get some info straight from the source (so to speak).

[LivinLOS]

1 minute ago, timewilltell said:

 

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.

 

 

Not really.. 

 

Perhaps the minister has shares or a partnership plan in retiree assisted living.. Something I always thought would be a strong business proposition here.. 

 

Old people, 10 year visa, 'medical tourism' being retirement homes or nursing care. 

[lostinisaan]

1 hour ago, eddie61 said:

does that mean you will have to show 8 million in a bank account?

 

 I'm pretty sure that you can have 8 million baht at two different banks and you'll still get it.

 

     What a warm welcome for the long stayers that is. Khop Khun La Lai. What a bunch of hypocrites. 

 

     I've spent a fortune in my 15 years here, helped my wife's family and quite a few other relatives in the village, paid income taxes for the last 12 years, besides all the taxes for the daily items we're using, but I don't qualify for such a visa.

 

  I did and still do my best to educate their kids, never committed a crime, got a clean record from my country of origin. But that doesn't seem to be of interest to them. 

 

         Why's there no visa for people like us, the long stayers who've already proved that we're sincere people, without showing a couple of million baht that can't be touched for five years? 

 

        Because we've spent and still do spend our money in this country. Month to month and day by day.Hour by hour. Oh, that doesn't count? I'm so sorry, sir..........

 

       I'm not really lost in Isaan, but truly lost using the right words now how I really feel about a country that even failed, even after they postponed the start of the ASEAN community, in many ways. 

 

       I'm certainly sure that I'm not the only one here with similar thoughts.

 

They want guys with money only, but those who've one way the other helped this country to be what it actually is, can go back home once they've spent all and will be replaced by others who're free to go back where they came from when they've spent all their cash? 

 

     Yes, I know that I can go back anytime I want.

 

  There're other countries that at least show a sort of appreciation. But not Thailand. My 2 baht to it. 

 

       

[hml367]

As someone or some people have said, lots of speculation and no hard facts.

Comparing to Elite program :  Isn't the Elite a paid visa?  You don't get that money back after a year or whatever... This, apparently is money in the bank, earning interest, and it's yours at the end of the year.

 

In my opinion, and just reading on the surface, I think the health insurance will be the hardest.

 

Finally, I wonder if the Chiang Mai activists are going to claim this is as a result of their activities....

[LivinLOS]

3 minutes ago, smccolley said:

I wonder how this would work as I am on an extension of stay based on marriage, but working here and have a work permit. I meet the income and insurance levels... it sure would be nice to skip the annual hassle, even though my company now does all the paperwork.

 

 

Retirement classes is employment prohibited I would believe.. 

[MrMuddle]

4 minutes ago, LivinLOS said:

 

 

The OA is a visa class given with a few more restrictions than the easier to obtain visa O or extension based on retirement. 

 

Its a 1 year visa, with a 1 year permission of stay, so can be stretched to 1 day short of 2 years with careful use. 

 

Not really a big deal, but useful if your emabssy hands them out easily (they used to much more than they do lately). 

Thank you, for your help.

[true blue]

2 minutes ago, justaphase said:

Perhaps they read TV and want to get rid of all the old moaners who spend only spend 200 a day at the market in the boonies

Propally there will be more people going under the radar if new rules implement

[aslimversgwm]

2 minutes ago, lostinisaan said:

 

 I'm pretty sure that you can have 8 million baht at two different banks and you'll still get it.

 

     What a warm welcome for the long stayers that is. Khop Khun La Lai. What a bunch of hypocrites. 

 

     I've spent a fortune in my 15 years here, helped my wife's family and quite a few other relatives in the village, paid income taxes for the last 12 years, besides all the taxes for the daily items we're using, but I don't qualify for such a visa.

 

  I did and still do my best to educate their kids, never committed a crime, got a clean record from my country of origin. But that doesn't seem to be of interest to them. 

 

         Why's there no visa for people like us, the long stayers who've already proved that we're sincere people, without showing a couple of million baht that can't be touched for five years? 

 

        Because we've spent and still do spend our money in this country. Month to month and day by day.Hour by hour. Oh, that doesn't count? I'm so sorry, sir..........

 

       I'm not really lost in Isaan, but truly lost using the right words now how I really feel about a country that even failed, even after they postponed the start of the ASEAN community, in many ways. 

 

       I'm certainly sure that I'm not the only one here with similar thoughts.

 

They want guys with money only, but those who've one way the other helped this country to be what it actually is, can go back home once they've spent all and will be replaced by others who're free to go back where they came from when they've spent all their cash? 

 

     Yes, I know that I can go back anytime I want.

 

  There're other countries that at least show a sort of appreciation. But not Thailand. My 2 baht to it. 

 

       

Well said sir! I'm in total agreement.

[elviajero]

1 minute ago, MrMuddle said:

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

You can enter with either a Non 'O' (like you did) or a Non 'O-A' visa and apply for a 1 year extension of stay based on retirement.  The extension of stay is the same regardless of which category of non immigrant visa you had.

 

It seems that they are increasing the Non Immigrant Non 'O-A' visa from 1 year to 10 years. If so, it will have no affect on 1 year extensions of stay.

 

This is about promoting "medical services" and anyone that wants this visa will have to buy an expensive medical insurance policy.

[justaphase]

3 minutes ago, true blue said:

Propally there will be more people going under the radar if new rules implement

Wouldn't that be a turnaround for the ones who "see no reason for someone to go on overstay"

Personally I wouldn't buy anything I wasn't willing to walk away from in a country like this.

Edited November 22, 2016 by justaphase
added comment

[Peterw42]

If you enter on the last day of the 9th year, do they stamp you in for another 10years ?

 

Also, visa's are issued outside of thailand, do we all have to go home or do a border run to get one

[Once Bitten]

From khaosodenglish

 

BANGKOK — Affluent foreign residents over 50 will soon be able to apply for 10-year visas, a government spokesman said Tuesday.

Intended to promote Thailand as a hub for medical services, the policy was approved by the interim cabinet on Tuesday, according to spokesman Athisit Chainuwat.
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.

 

[MrMuddle]

1 minute ago, elviajero said:

You can enter with either a Non 'O' (like you did) or a Non 'O-A' visa and apply for a 1 year extension of stay based on retirement.  The extension of stay is the same regardless of which category of non immigrant visa you had.

 

It seems that they are increasing the Non Immigrant Non 'O-A' visa from 1 year to 10 years. If so, it will have no affect on 1 year extensions of stay.

 

This is about promoting "medical services" and anyone that wants this visa will have to buy an expensive medical insurance policy.

That's what I'm hoping for !  As I have only one kidney, health insurance would be astronomical for me.

[dick dasterdly]

4 minutes ago, justaphase said:

Perhaps they read TV and want to get rid of all the old moaners who spend only spend 200 a day at the market in the boonies

Perhaps, and yes I do realise it was a joke.

 

But they will also get rid of a lot of other people who spend their retirement income in Thailand - which is a fair amount of money and met previous income requirements.

[Morakot]

13 minutes ago, LivinLOS said:

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

 

 

There is no basic coverage in Thailand. Some Thai people on private packages have coverage as low as 50,000 THB p.a. for inpatient care.

 

For a cover of one mil THB what be your premium, may I ask?

[cheapcanuck]

As it stands the requirements are not totally unreasonable. What's not being told to us (the fine print) which makes this new program scary.

[JB300]

1 hour 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).

 

 

 

I'd love that to be the case but how would they monitor the fact that the 3Million has been left untouched? In Philippines (not sure about Malaysia) you put it into a Govt approved account that you can't touch unless leaving the country (I.e. giving up the Visa).
 

 

 

Edited November 22, 2016 by metisdead
Please do not modify someone else's post in your quoted reply, either with font or color changes or wording.

[elviajero]

1 minute ago, Peterw42 said:

If you enter on the last day of the 9th year, do they stamp you in for another 10years ?

 

Also, visa's are issued outside of thailand, do we all have to go home or do a border run to get one

If they are talking about a replacement for the Non 'O-A' visa then I expect they will only give permission to stay for 1 year at a time. At the end of each year you'll need to pay 1,900 baht for a 1 year extension of stay or do a border hop. At the end of 5 years a new visa will be issued. My guess is that entering on the last day of the 9th year would get you a 1 year permit to stay.

[justaphase]

1 minute ago, dick dasterdly said:

Perhaps, and yes I do realise it was a joke.

 

But they will also get rid of a lot of other people who spend their retirement income in Thailand - which is a fair amount of money and met previous income requirements.

Do you really think Thai people like us being here for the good of the country, or to make a quick baht?

 

[alanrchase]

 
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. 
 

The Bangkok post does not mention extensions of stay. It mentions replacing the existing 1 year long term VISA with a 10 year VISA. As I understand it the existing long term visa is an O-A.

[scubascuba3]

Cost of visa is 10,000 baht

[LivinLOS]

6 minutes ago, Morakot said:

 

There is no basic coverage in Thailand. Some Thai people on private packages have coverage as low as 50,000 THB p.a. for inpatient care.

 

For a cover of one mil THB what be your premium, may I ask?

Last time I looked was 30 - 35 ?? 

 

Going to assume its now 40 - 50 ?? 

 

I am only 44.. I retired here at 28.. 

[scandinavi]

I think this new visa for over 50 years olds is similar as new ME tourist visa was for tourists. They will not stop all the cheaper options.

 

Besides there is "visa competition" going on in Asia. Now Americans and Canadians can get 10 year multiple entry visa to China. And Philippines is still easy visa country etc.