Thailand's New 10-Year Visas Meet Mixed Reactions

[MrMuddle]

1 hour ago, jlwilliamsjr18 said:

Why do I feel like all they want is my money, and not my body.  

But you are very sexy man ! 

[biggles45]

"no other country in the world to my knowledge has offered what Thailand offers with respect to "Retirement Visa" ..

 

Not so, the Philippines has a Retirement Visa that is valid for life, no need to visit immigration to report or renew. $US20k term deposit, no monthly income requirement.  It is all handled by a department that issues a 3 year ID card not immigration and renewing the cad costs $10 a year. I have had mine for 6  years now. www.pra.gov.ph for more info. 

[lungnorm]

Sounded good but looks far too expensive. Better places to retire to a lot cheaper. As they say in Thai BAH

[PattayaAJF]

 

2 minutes ago, biggles45 said:

"no other country in the world to my knowledge has offered what Thailand offers with respect to "Retirement Visa" ..

 

Not so, the Philippines has a Retirement Visa that is valid for life, no need to visit immigration to report or renew. $US20k term deposit, no monthly income requirement.  It is all handled by a department that issues a 3 year ID card not immigration and renewing the cad costs $10 a year. I have had mine for 6  years now. www.pra.gov.ph for more info. 

 

That's great .. maybe more people should consider this .. i'm in Manila at the moment on business and its not that bad here .. altho' the local food is "maybe" not a varied as Thai Food .. also lots of english spoken here .. easy to get around .. 

[jspill]

4 minutes ago, biggles45 said:

"no other country in the world to my knowledge has offered what Thailand offers with respect to "Retirement Visa" ..

 

Not so, the Philippines has a Retirement Visa that is valid for life, no need to visit immigration to report or renew. $US20k term deposit, no monthly income requirement.  It is all handled by a department that issues a 3 year ID card not immigration and renewing the cad costs $10 a year. I have had mine for 6  years now. www.pra.gov.ph for more info. 

 

And Indonesia, you just show the equivalent of a 50k baht/month pension and you can retire there, about the same as Thailand's 40k baht requirement.

[lungnorm]

5 minutes ago, biggles45 said:

"no other country in the world to my knowledge has offered what Thailand offers with respect to "Retirement Visa" ..

 

Not so, the Philippines has a Retirement Visa that is valid for life, no need to visit immigration to report or renew. $US20k term deposit, no monthly income requirement.  It is all handled by a department that issues a 3 year ID card not immigration and renewing the cad costs $10 a year. I have had mine for 6  years now. www.pra.gov.ph for more info. 

They also have provision for a Permanent Resident visa costs under $500 renew ID card every 3yrs costs $50 and annual reporting no cost.

[jspill]

5 minutes ago, PattayaAJF said:

That's great .. maybe more people should consider this .. i'm in Manila at the moment on business and its not that bad here .. altho' the local food is "maybe" not a varied as Thai Food .. also lots of english spoken here .. easy to get around .. 

 

Really tourist visas are so easy in the Philippines most older expats don't even need to bother with the retirement visa. You can just stay for 3 years at time getting tourist extensions, then fly out and immediately re-enter, rinse and repeat.

 

And no internet forums full of expats slagging you off for living there on tourist visas either :) 

 

But yes it has a retirement visa too. You can even get one at 35 years old. 

Edited November 24, 2016 by jspill

[PattayaAJF]

3 minutes ago, lungnorm said:

Sounded good but looks far too expensive. Better places to retire to a lot cheaper. As they say in Thai BAH

sure .. not as cheap as Thailand is now .. but will be much cheaper than the new 10 visa if/when it ever comes to fruition ..  

[mcfish]

 
And Indonesia, you just show the equivalent of a 50k baht/month pension and you can retire there, about the same as Thailand's 40k baht requirement.

The only Drawback is you actually have to live there, no thanks even if it we're free

Sent from my SC-01D using Tapatalk

[biggles45]

I also seem to recall a friend moved to Malaysia under their "Malaysia, my second home" retirement plan. A ten year visa if I recall correctly and some concessions on import taxes etc. 

[PattayaAJF]

Just now, biggles45 said:

I also seem to recall a friend moved to Malaysia under their "Malaysia, my second home" retirement plan. A ten year visa if I recall correctly and some concessions on import taxes etc. 

 as of Dec 2015 when i last checked (i) MYR150,000 in the bank with withdrawal restriction (ii) compulsory Health Insurance (iii) lots of small print about pension requirements .. but you can work part time in your chosen profession up to 50% ..  

 

Malaysia is not that bad as well .. 

[kowpot]

While I can qualify for the  new amount required, I am not sure why it is required.

I have always qualified with the 65,000 baht a month plan. I don't like to keep too much in a Thai bank.  Never know what's going to happen and I want to be able to leave and not worry about losing too much. But I do not spend that amount either.

So then why raise it to 100,000? The local community is still not going to get more than 65,000 a month. Probably closer to 50,000.

[Xircal]

4 hours ago, anotheruser said:

They should waive the insurance requirement for those unable/unwilling to buy insurance. The catch would be you have to voluntarily sign a euthanasia contract. So if you get hurt or become ill and can't afford care you consent being put down with as much ceremony as a soi dog. You would be required to have enough money permanently in an account to pay for the procedure.

 

There would likely be an argument that the cost of the injection to end your life was too expensive. But if you'd be willing to agree to be chucked off an 18th floor balcony, that would be acceptable.

[anotheruser]

Just now, Xircal said:

 

There would likely be an argument that the cost of the injection to end your life was too expensive. But if you'd be willing to agree to be chucked off an 18th floor balcony, that would be acceptable.

 

Well they could have different tiered plans. This way there could truly be an option for every person regardless of income.

[fforest1]

1 hour ago, moe666 said:

Has anyone considered why they have a health insurance requirement? A lot of health cost by expats go unpaid, because they have no insurance or money. Do not blame the Thais for dead beat expats living cheap in Thailand and running up bills that go unpaid

 

The well off farang go to the private hositals....

The poor farang go to the public hospitals or self treat...

 

The % of farang  that go to the hospitals get treatment and do not pay is

tiny,very very small....

Thai hospitals WILL NOT treat you for any thing major with-out money

up front....FACT.....

 

Farang ARE NOT a burden to the Thai health care system...Farang get

nothing free..Moneyless farang getting free health care in Thailand

is a huge LIE people love to repeat over and over and over..

 

Sure a few farang have not payed their hospital bills but this is a

tiny % of farangs...

 

 

 

 

Edited November 24, 2016 by fforest1

[ajnamoon]

If I had   100000 baht  monthly  income, and 3 million in my bank account  I would not be living here

[anotheruser]

1 minute ago, ajnamoon said:

If I had   100000 baht  monthly  income, and 3 million in my bank account  I would not be living here

 

Conversely if you don't have it you might not be living here either. :) 

[bikerbri]

This country is in big trouble. Exports are declining.Tourist's are finding new locations. The Thais are trying to talk up an economy that is in decline. Thailand needs cash and lots of it.The current visa extension cost Baht 1,960.( Baht 9,800 for 5 years ) The new 5-year visa cost Baht 10,000, a gain of Baht 200 or Baht 400 over ten years. No one can tell me that this going to fix the Thai economy. No this is not about helping farangs. This is about getting rid of the farangs with the string vest,propping up the bars in sin city and changing the image of ping pong Thailand. Who,already living here, would, in their right mind, put Baht 3,000,000 into a fixed account? Or more to the point who,already living here has that amount of free cash in the first place? I have never met a Thai yet who didn't try and screw more money out of a situation and this new visa, which sounds too good to be true and does not favour the Thai need for cash needs more explanation.

[anotheruser]

2 minutes ago, bikerbri said:

This country is in big trouble. Exports are declining.Tourist's are finding new locations. The Thais are trying to talk up an economy that is in decline. Thailand needs cash and lots of it.The current visa extension cost Baht 1,960.( Baht 9,800 for 5 years ) The new 5-year visa cost Baht 10,000, a gain of Baht 200 or Baht 400 over ten years. No one can tell me that this going to fix the Thai economy. No this is not about helping farangs. This is about getting rid of the farangs with the string vest,propping up the bars in sin city and changing the image of ping pong Thailand. Who,already living here, would, in their right mind, put Baht 3,000,000 into a fixed account? Or more to the point who,already living here has that amount of free cash in the first place? I have never met a Thai yet who didn't try and screw more money out of a situation and this new visa, which sounds too good to be true and does not favour the Thai need for cash needs more explanation.

400 Baht over 10 years!!! How outrageous!!! :)

[sgtsabai]

I can't make the insurance requirement. I'm over 70 and couldn't make it 10 yrs. ago. My Medicare and work retirement insurance along with the VA is great, or rather was until the plane crossed the shore line. VA 'Foreign Medical Program is good, but only covers my disablities. I make the required income, not by much and after the new US fascist's first 100 days I expect I will not longer have that amount. I spend every satang here. As long as they keep what is presently in place, I don't have a problem with the new "visa". Well except it might bring more of the smart ass, snotty, "I'm richer than you" <deleted> over to stay. To you people, 99% of whom have never had a real job, stick it where the sun doesn't shine. I worked for my pensions, damn hard and put my life on the line many, many times. No aircon fancy office for me, I made an honest living.

Edited November 24, 2016 by sgtsabai

[spambot]

47 minutes ago, biggles45 said:

"no other country in the world to my knowledge has offered what Thailand offers with respect to "Retirement Visa" ..

 

Not so, the Philippines has a Retirement Visa that is valid for life, no need to visit immigration to report or renew. $US20k term deposit, no monthly income requirement.  It is all handled by a department that issues a 3 year ID card not immigration and renewing the cad costs $10 a year. I have had mine for 6  years now. www.pra.gov.ph for more info. 

biggles45 - Good Insight

 

I just read as a follow up http://www.investopedia.com/articles/personal-finance/012915/how-plan-your-retirement-philippines.asp

It identifies  $20K deposit  you mention - It also mentions the annual renewal cost of the special card same as you identify, but then shows another annual cost for renewal of the Visa itself $360 - is this extra cost that you haven't mentioned correct or not?

"Special Resident Retiree’s Visa (SRRV) -  The initial application fee is $1,400 for the principal -  This is a one-time payment - After the first year the annual fee to renew the visa will be $360"

 

[Chainsaw]

Forget BUPA!!!

As soon as you get to 70 (71 in my case) they send you a nice letter saying you will no longer be insured at the present premium rate, but you can apply for BUPA International with sky-high premiums - yeah right!

This was after I'd been repeatedly assured that I would be insured for life at the present premium rate as I had continuous cover with them, starting when I was 57.

BUPA has had more than 200,000 baht in premiums from me over the years which would have gone a long way to paying for any medical costs should I fall ill.

 

In a converse way it was a good thing that they cancelled my cover as I had become complacent with the knowledge that if I got sick, I was covered.

It was a wake-up call for me. I realised that it was up to me to look after my health, so I started exercising regularly and watching what I was eating.

A year down the line and I feel healthier and fitter now than I did when I was 60!

I have a small health insurance plan now with low premiums and a special bank account strictly for any medical issues.

 

[George FmplesdaCosteedback]

I tend to agree with what Artisi has to say. This is Thailand don't forget, no use jumping the gun, it could all change or even suddenly be forgotten in the blink of an eye.

We should make more concerted effort by making positive suggestions of the type of visa we can deal with, or just say: leave well alone. Introduce this new visa for those that want it, like those on the Elite Visa now.

Also, some want to do voluntary work, others want more ease to leave and return.

How about tying that, maybe someone is listening....

[fullcave]

5 hours ago, alocacoc said:

What concerns him is the requirement that one must have health insurance covering hospital stays and annual coverage worth at least USD$10,000.

“I’m not sure about the compulsory medical insurance, though,” Carter said. “Never encountered a rule like this before.”

Many insurance companies do not cover at the required level, he added.

 

I don't get it. 10000 USD is nothing. I spent 700 000 baht in one week at Bangkok Hospital. Then, my intl. insurance is not limited to a certain amount of money.

 

And, how can someone retire abroad without a health insurance? That's insane.

 

 

 

I don't get it either. re people that retire to Thailand really so poor as to not be able to afford a 10,000 USD hospital stay that they need to pay an insurance company? 

 

As for finding such a policy, I'm sure they will be available from a friend of your local immigration agent. They will be more than happy to help.. 

[louse1953]

5 hours ago, TechnikaIII said:

My best health insurance policy is the funds in the bank for a short-notice return to Australia, where my Medicare card takes care of hospital bills. And I keep an ambulance subscription up to date. 

If they let you on the plane.A couple of cobbers got knock back.Karking it on the plane is bad for business.

[bikerbri]

6 minutes ago, Chainsaw said:

Forget BUPA!!!

As soon as you get to 70 (71 in my case) they send you a nice letter saying you will no longer be insured at the present premium rate, but you can apply for BUPA International with sky-high premiums - yeah right!

This was after I'd been repeatedly assured that I would be insured for life at the present premium rate as I had continuous cover with them, starting when I was 57.

BUPA has had more than 200,000 baht in premiums from me over the years which would have gone a long way to paying for any medical costs should I fall ill.

 

In a converse way it was a good thing that they cancelled my cover as I had become complacent with the knowledge that if I got sick, I was covered.

It was a wake-up call for me. I realised that it was up to me to look after my health, so I started exercising regularly and watching what I was eating.

A year down the line and I feel healthier and fitter now than I did when I was 60!

I have a small health insurance plan now with low premiums and a special bank account strictly for any medical issues.

 

 

Strange! I am 72 and have just renewed with a small increase in my premium, my family policy,which I took out before I turned 60. I have a lot more out of BUPA than I have put in.

[Artisi]

28 minutes ago, anotheruser said:

400 Baht over 10 years!!! How outrageous!!! :)

An absolute rip-off...

[PattayaAJF]

2 minutes ago, Artisi said:

An absolute rip-off...

 

sorry Artisi .. off subject .. i was fined in Newcastle for illegal parking but the fine in GBP .. has the Tramways always fined in USD? .. sorry for the diversion .. i like your photo .. 

[rexall]

There is something, some catch or something not being disclosed here (Imagine that!)  Do you really think Imm is prepared to turn falang loose for FIVE years with no tabs on them other than the 90 Report? That is completely inconsistent with the screws Imm has been slowly tightening over the years.  Besides, what would happen to the forestry industry which supplies the trees to the paper industry which makes the paper for all those bzillions of photocopies we give to Imm every year?  

[Chainsaw]

10 minutes ago, bikerbri said:

Strange! I am 72 and have just renewed with a small increase in my premium, my family policy,which I took out before I turned 60. I have a lot more out of BUPA than I have put in.

 

Strange indeed! Maybe they have different rules for a family policy as opposed to a personal one. I hope you continue to get the cover you and your family need.

Could be they are thinking long term and that younger members of your family will continue to pay the premiums after you pass?