Govt approves 10 year visas for foreigners over 50

[Bulldozer Dawn]

8 minutes ago, newnative said:

Seems like this is just an option and not a replacement for the current system.  Methinks they are making a stab at attracting more "quality" expats as the other bookend to their "quality" tourists.

 

People had the same delusions when they introduced the METV.  They said it was going to be ANOTHER option.  But thing is it became the ONLY option.  Same thing will happen here with the retirement extension.

[In the jungle]

Cheques and bank transfers to be made payable to a man with the first name General at an offshore account.

[Lupatria]

I wonder if they run a secret "don't think tank" to come up with these ideas. Would be interesting to read the member list. 

[SpokaneAl]

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.

But the non imm o-a has no requirements involving money in a Thai bank. Actually that is one advantage to it vs an extension of stay for the first two years.

It sounds to me that they are discussing extensions of stay. But who really knows.


Sent from my iPad using Thaivisa Connect

[sekmet]

Well, this should clean things out quite a bit.

[paul18620]

3 minutes ago, Bulldozer Dawn said:

And now the penny drops you old fools.

 

First it was the in out visas.  And the holier than thou TV crowd on their retirement extensions were saying:   Well good riddens to the digital pikeys staying here illegally.

 

Then it was on to the education visa and that has now been shot in the head with ridiculous and impossible to comply with requirements.  Again the retirement extension crowd said good riddens to all those people staying here illegally.

 

I kept posting to remind the holier than thou crowd that the smile will soon leave their smug faces when the financial requirement for a retirement extension gets raised to 1.5 million.   Of course my posts were constantly deleted because I was rumour mongering.

 

But the most hilarious bit is that I was wrong, the financial requirement is going to get raised to 3 million baht.

 

So suck it up you smug idiots.   Now things are going to get real for you too.

 

And yes, there will be a wave of human tradgedy as families and relationships are destroyed and assets are sold at fire sale prices (into the hands of the Thai elite).

 

But guess what, those in control don't give a damn.

 

The same as when the two Burmese boys were scape goated for the murder of David and Hanna.  

 

The militarized elite knew that farangs would squeal, but the thing is they don't give a damn.

 

You thought that having 800,000 THB made you untouchable.  And from your perceived bastion of security you spouted hate and vitriol to those who did not qualify.

 

Well now it is your turn. 

 

Enjoy.

You are a very very sad person ,I don't understand one bit of your story I take it from "your story you are a member of THAI ELIETE "and now re trying to get a refund .....good luck with that ,,,,only hope you have if the scheme closes ,which according to your ELIETE GROUP that WILL NEVER HAPPEN ,,,,,enjoy THAILAND 

[SiSePuede419]

Just now, Peterw42 said:

 

Buy now while its cheap, the rich 10 year visa guys will be looking to buy when they arrive

Sure, buy now when prices are high.  Then sell low after prices crash after the US Fed raises interest rates.

 

Makes sense to me ?

[Peterw42]

1 minute ago, alzack said:

Thailand , when will you guys understand THEY DONT WANT US!

racists Fanatical Nationalist!

 

Creating a longer visa option means they dont want us, strange logic

[holy cow cm]

Just another JOKE! Can never take them on a caring note. Elite.

 

Real criteria for human compassion is needed.

-Length of time here

-Ties to Thais here. Married over 5 years or children over 5 years or death of wife that was married to over 5 years all based on you did your time in country 100% here.

 

funny enough, that this country is CEASING to amaze me. so, they can toot their golden horn and all is the same.

[evadgib]

13 minutes ago, Mister Fixit said:

 

Wait until they increase the eligible age to 60 ...   50 is far too low for genuine retirement

UK Military were put to grass @40 on full pensions prior to 2005. Other govt employees usually take theirs @55.

[dick dasterdly]

Just now, paul18620 said:

You are a very very sad person ,I don't understand one bit of your story I take it from "your story you are a member of THAI ELIETE "and now re trying to get a refund .....good luck with that ,,,,only hope you have if the scheme closes ,which according to your ELIETE GROUP that WILL NEVER HAPPEN ,,,,,enjoy THAILAND 

You entirely missed his point....

[fruitman]

And what if you opt to go to a hospital outside of thailand? Is that still allowed?

[david555]

48 minutes ago, aripengu said:

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

+1

and same moment a collapse in the realestate newbuild and resale markets as many need to sell makes prices plunge down ...! because many would be in the same URGENT sales ...

[Hannuman]

One thing I will confidently predict is that when the  details of the proposed  legislation are finally  accessible in the public domain and are uniformly implemented (!) it will still prove to be light years behind the system introduced in 2001 by their country- cousins domiciled on the landmass twixt Padang Besar and Singapore ,whose couth and hospitable scheme  has lured in excess of some 35,000  expat gentle folk participants to settle there,

[lostinisaan]

1 minute ago, fruitman said:

And what if you opt to go to a hospital outside of thailand? Is that still allowed?

 

  Only when you're 75 and you've got mom and dad with you. 

[smccolley]

8 minutes ago, SiSePuede419 said:

One minor missing detail: how much does it cost?

 

I thought I read in the Bangkok post the visa will be 10k Baht

[dick dasterdly]

4 minutes ago, holy cow cm said:

Just another JOKE! Can never take them on a caring note. Elite.

 

Real criteria for human compassion is needed.

-Length of time here

-Ties to Thais here. Married over 5 years or children over 5 years or death of wife that was married to over 5 years all based on you did your time in country 100% here.

 

funny enough, that this country is CEASING to amaze me. so, they can toot their golden horn and all is the same.

Somebody else that fits the criteria to fill their own personal situation....

[teatree]

2 hours ago, LivinLOS said:

 

 

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

Quite right.  It should be at least 1 million baht a month to get rid of all the riff raff.

 

[Caspersfriend]

I missed the post that confirmed http://www.khaosodenglish.com/ as being the official spokes-media for the governing regime.

 

At 250+ posts-in their circulation has certainly benefited. 

[louse1953]

2 hours ago, sjaak327 said:

Yes, but nowhere does it state the current Non Imm OA are going to be phased out. That would probably not be the case. This seems to be an additional option for people that do manage to fit the requirements and don't want the hassle associated with the OA system.

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

 

[Xircal]

2 hours ago, Andrew65 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, Athisit said

 

 

Yes, that last sentence is rather amusing. So in spite of bringing all this wealth into the country, Thailand will still treat you like a criminal and expect you to report your whereabouts every 90 days.

 

If you've got that kind of cash to splash around I can think of several countries with a pleasant climate who will welcome you without all the restrictions that Thailand imposes.

[fruitman]

Is it also allowed when the Thai wife shows 3 million on her bank account? After paying tax that is of course.

[seancbk]

54 minutes ago, timewilltell said:

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).

 

 

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.

 

Where does it say the money has to be in a Thai bank or the salary from a job in Thailand.  

The mere fact they mention salary makes me think they mean salary back home, otherwise why does it only apply to over 50's and not anyone year old working here?     Because its not aimed at people working here is it.

Look at the requirements they brought in for the new 6 month METV (multi entry tourist visa).....    

200,000 baht or equivalent in a bank account in your home country

Letter from your employer 

And that is just a 6 month validity visa....  so it seems logical that a 5 year visa they'd want you to show more....   

100K salary to prove you have a job and a good income or 3 million in the bank..... in your home country

Showing that you can afford to travel back and forth to Thailand during the 5 year period your visa is active in order to have medical treatments in Thailand.   


Of course its a crackpot idea..... its designed to promote Thailand as a medical tourism destination.

 

 

[dick dasterdly]

4 minutes ago, Hannuman said:

One thing I will confidently predict is that when the  details of the proposed  legislation are finally  accessible in the public domain and are uniformly implemented (!) it will still prove to be light years behind the system introduced in 2001 by their country- cousins domiciled on the landmass twixt Padang Besar and Singapore ,whose couth and hospitable scheme  has lured in excess of some 35,000  expat gentle folk participants to settle there,

I've no idea about the retirement requirements for Singapore, but do know that many foreigners who have worked many years in Singapore move to Phuket as a retirement/holiday home option.  And they're all VERY wealthy.

[Baerboxer]

2 hours ago, worgeordie said:

At what cost !, and its not 1st April yet.regards Worgeordie

 

 

BP article says new visa cost is 10k ThB. Says the bank deposit method has to be maintained for first year, and the 10 year visa is good for 5 years and can then be renewed for another 5 years. 

Doesn't make clear if the 5 million bank deposit would again require to be there and held for the first 12 months of the second 5 years; or it there will be any period of maturity.

It does say that proof of health insurance is required. 

 

Life is going to get more complex, with more detailed form filling, more requirements requiring more certified letters and updated information, and more expensive. The only upside is at least you will have some security rather than just the 12 month extension.

 

No mention of "grandfathering" any already on retirement extensions. And no mention of changes to the extensions based on marriage.

 

Immigration suggested I moved from marriage extension to retirement extension a few years ago as was so much simpler. Now maybe they'll be trying to shunt people back :-).

 

 

[kennypowers]

Will the 3 million have to be in a Thai bank account, like the current O requirements? I assume so. The question is: who would be stupid enough to do that? Or perhaps the question should be: How stupid do they think foreigners are? 

 

No notable interest on the money. Essentially depreciates in value.

No protection against a run on the banks.

No protection against any hostile takeover/coup.

No protection against any from of loss. 

 

400k, perhaps most could risk. 3m, too much of a risk/waste of an investment opportunity.

 

And still have to report every 90 days. You have to be kidding me.

 

[evenstevens]

 would be nice to see  ,all the I,s  dotted, and T,s crossed,and what bounty is priced in

its  a the land of the shonk, late evening to all

 

Edited November 22, 2016 by evenstevens

[louse1953]

2 hours 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. 

Guess i'm out,luckily you have no say in it.

[Peterw42]

A ten year Visa thats good for 5 years, most people would call that a 5 year Visa.

3 million in the bank for one year in ten, or one year every 5

[sambum]

2 hours 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?

 

Ahem! "fantastic news"? :-

"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, Athisit said."