Thailand's New 10-Year Visas Meet Mixed Reactions

[Mook23]

Lol. Blaming? Moi?

Ure a little nervous buddy... breath in and out.

I repeat: hand sewn+tetanus shot+antis (not used but still received)+doctor: 300thb...government hospital ER. 

 

[Inepto Cracy]

Once you have Diabetes, you are excluded from most insurance companies. Diabetes is a death sentence in my view. I am a diabetic on an  insulin pump. Costs a ton of money just to buy consumables paid out of your own pocket, in Thailand. Don't know if this plan was properly thought out, but I see thousands of expats over 50 not being able to afford this visa. If you loose all the older expats, who is going to bring in the steady income, the Chinese?

[tilaceer]

What a ridiculous headline and sub headline.

They polled four people !!!

 

Let's hope we are not going to get another 40 plus pages of conjecture.

Edited November 24, 2016 by tilaceer

[arithai12]

27 minutes ago, tracker1 said:

I will answer your remark re health insurance cover it depends on a few things such as age acceptability, pre existing health conditions and ones finances not everyone can afford 10,000 US$ a year 

Let's not confuse coverage with premium. But the truth is that the requirement is confusing, as stated so far.

Insurances do not work necessarily with a ceiling in absolute coverage, but rather with conditions such as, e.g. 50% of dental, 80% of medicines, 70% of in-patient care...  I am not sure that one can get a letter from an insurer that will state "mr is covered to max 15,000 per year".

 

Even more confusing is the 3M in the bank for one year "after".... how is that going to be enforced? they check your account and take away your visa? And after 1 year it's ok to be penniless? What about the extension after 5 years, does one need again 3M?

 

I guess we'll have to see how this plays out.

 

[arithai12]

1 hour ago, kotsak said:

I have to admit that I LOLed with the photo 

I thought Hillary said she didn't want to get out of home anymore, and here she's on a beach in Thailand.

I suppose she has 3M in the bank...

[connda]

This was mentioned in the light of medical tourism, however, if an expat is tying up 3M THB ($86K US) in a bank, then that individual must truly be in an economic bracket that doesn't need to come to Thailand for medical tourism.  And with 3M THB inaccessible, that pretty well wipes out the disposable income that can be used for medical procedures.  My guess if folks come here for medical tourism that means they need it within 1 year.  The 1 year freeze on assets in the bank runs counter to that.  And as far as making 100K THB in external income/mo, that weeds out a lot of normal retirees and given a slide in exchange rates by an either straightening THB or weakening foreigner currency, that 100K/mo could easily be out of reach in a hurry.  Also interesting is the very low threshold on medical insurance.  10K USD (~35K THB)?  That will cover a few days in ICU, maybe.  Sounds like a typical Thai insurance policy but one that is grossly under-insured.  But than again, they lock 3M THB in a bank account so if an expat on this visa is under-insured that have a way to pay the hospital, after which the expat is kicked out on their ear for being unable to meet financial requirements.  Yep, interesting.
Imho, this is either short-sighted legislation or something else is afoot.  I'm thinking, "Stay tuned...."

Edited November 24, 2016 by connda

[anotheruser]

23 minutes ago, Briggsy said:

Very unclear on the 3 million baht.

How will the government stop you withdrawing any in the first year?

Is it a special account say in a government bank?

How can it be shown that money has been spent in Thailand? Keep all your receipts?

So little information yet.

 

I wouldn't worry too much about them finding a way to keep your money. The term time account was used so presumably you simply will not be able to withdraw the funds before a certain date. If it is a low interest account the banks will be delighted to have your money for a year and will gleefully enforce the rule.

 

The fun part is the clause where you draw out 50% but have to prove you spent in Thailand. Although the good news is you can simply put an end to this nonsense by purchasing an TE visa. 

[NCC1701A]

"Applicants must not only leave 3 million baht untouched for one year in a time deposit, but they cannot withdraw more than 50 percent, which they must show proof was spent in Thailand for such as medical, property, tuition or similar expenses, (?) according to the resolution. Want to renew it five years later? Visa holders must again show 3 million baht in the bank or an income of at least 100,000 baht per month. "

 

So it is a five year visa, not ten. Typical Thailand.

 

so you can only get all your money back when you leave? must be in the bank year round?

I am an American and I am thinking the exchange rate is only going to get better. And they want me to lock up 3 Mil baht at the current exchange rates and commit that money for 5 years?

 

and paperwork for showing where the money went, like the IRS in the USA? F that.

and they tell you what you can spend your money on?

NIGHTMARE.

 

All this and you still have to do 90 day reporting?

 

" An official in the visa and travel division of the Foreign Affairs Ministry said she did not know anything either."

 

Well they got that part right.

 

 

 

[gamini]

15 minutes ago, Docno said:

Going without health insurance is admittedly a bit of a gamble. But remember that insurance companies make healthy profits from health insurance. That means that most insured persons don't get back what they put in. In the aggregate, the odds are with the uninsured who keep money in their pocket rather than giving it to insurance companies and not getting equal or greater value in return. Of course, the gamble lies in the fact that you may be the person that one day faces a catastrophic condition for which health insurance would make a difference. I've been taking the gambler's route for the last many years (I have comfortable savings), but it was sobering to learn that two friends this year, both in their mid-50s, needed major surgery (one brain, one colon) as the result of cancer diagnoses. They didn't gamble, and that decision paid off for them.... 

At age 85 I have multiple medical problems. But I have a network of doctors that I see who probably give me better and cheaper treatment than I could get anywhere else. Fortunately I have many Thai friends who are able to recommend the best doctors and the best hospitals for treatment. And one of my good friend is a Thai Dr. There are government hospitals that have some really fantastic doctors but you have to know who they are. My radiologist works in a government hospital and she took the whole afternoon off to discuss my problems. My orthopaedic doctor works in a military hospital and he is really fantastic and ridiculously cheap. I go Siriraj hospital for skin problems and a small private hospital where I see my cardiologist who charges me not more than bt400. I have been admitted to hospital a few times and I go to the small private hospital and the charges are very reasonable and the doctors good. I had a heart operation at Bumrungrad and it did cost bt250,000. But adding that to all the other medical expenses and  operations and hospitalisation over the last 15 years works out to far far less then the insurance fees that I would have to pay for medical insurance. I personally would prefer to be treated in Thailand than any other country. I've had very bad experiences in both Australia and Singapore with botched operations. My last operation in Australia was a hernia one which was done so badly it had to be redone again in Chiangmai.

 

 

[yimlitnoy]

I am 66, I am married to a Thai and I have lived in Thailand for 36 years.  The lowest best quote for health insurance by Cigna is $408.89 per month so a 10 years visa would cost $49,066, only in insurance... 

[yellowboat]

48 minutes ago, TechnikaIII said:

Anyone meeting the financial requirements could find a much better place to retire.

Imagine setting one's self up with a residence in beautiful Krabi, only then to find yourself next to a stinking coal fired power station.

A what?

Yep. The illustrious General is killing any media discussion on the matter. He doesn't want there to be anything to upset the Thai people during this time of mourning. How convenient that is for him.

The surrounding countries offer far less hassles and are just as much fun as Thailand.  Thailand is just a bus stop now on the way some place more interesting.  Their offerings are usually far over priced for what they offer.  Thai government is delusional.

[gamini]

47 minutes ago, TechnikaIII said:

Anyone meeting the financial requirements could find a much better place to retire.

Imagine setting one's self up with a residence in beautiful Krabi, only then to find yourself next to a stinking coal fired power station.

A what?

Yep. The illustrious General is killing any media discussion on the matter. He doesn't want there to be anything to upset the Thai people during this time of mourning. How convenient that is for him.

I am sure you can. But the reason I retired to Thailand is because I love the Thai people and have some really wonderful and loyal friends here.  I would also think that a lot of expats will have the same reason to stay here. It's not just a question of money and visas, like you seem to imply.

[anotheruser]

6 minutes ago, gamini said:

I am sure you can. But the reason I retired to Thailand is because I love the Thai people and have some really wonderful and loyal friends here.  I would also think that a lot of expats will have the same reason to stay here. It's not just a question of money and visas, like you seem to imply.

 

Imagine you tried to get into the USA.  When filling out the visa forms you tell them you don't meet the requirements but you love the American people and have many friends. You are kidding yourself if you think it is not all about money and visas. 

[Cuchulainn]

.............Permanent Secretary of the Interior Kritsada Boonrat said Thursday he had no idea when it would come into effect...........................

 

An official in the visa and travel division of the Foreign Affairs Ministry said she did not know anything either...................

 

That's good to know then. Wouldn't trust these clowns to run a small kindergarten never mind an entire country.

...............

[Sparkles]

1 hour 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.

Try getting health insurance in Thailand when you 70 plus

[alocacoc]

Try getting health insurance in Thailand when you 70 plus

Might be a problem. But not Thailands problem.

Sent from my SM-G900F using Tapatalk

[Kawapete]

I dont really see any big :Welcome to Thailand" signboard in this 10 year visa for the average "good"  person that just want to relax in Thailand on a normal retirement budget and still spend good money for the benefit of Thailand. Also the 90 day rule without a chance for internet based check-in instead of wasting a day in some Immigration office is very old fashioned.

I have stayed and been running a business in Thailand for over 7 years now with Work permit and Visa done and its still more difficult for me to get the papers done and approved than getting a Schengen visa for my Thai girlfriend when we go to Denmark to visit family. If the Thai immigration had a nationwide Computer system and  a internet self service they would be very much in control like in the EU and it would be great for us people that have chosen Thailand as a long term destination.  

So If Thailand really want to benefit from long stay tourists and business people and companies that want to open subsidiaries there is only one way: Make it easier for us !

[mrfaroukh]

It is a good idea to have the new 10 years insurance for those who can afford it and still keep the previous retirement visa. But compulsory medical insurance is a nonsense. I always buy travel insurance for the few months that I stay here everytime I come. It cover my medical insurance much better than the one we get here. I hope they will accept they travel insurance instead of medical insurance in Thailand.

[natway09]

Mook 23

We are talking here about a major accident or illness that precludes travelling.

Would everyone stop dancing around the reality here.

If you are over 50 & want to retire here then 3 mil in your bank account  in Thailand is not excessive.

If that is too much maybe time to head home & let your ex nanny state take care of you

Singaporeans in Oz have to bring twice that into the country to live there.

[ThailandLOS]

1 hour ago, hellstens said:

I live here for 12 years without any health insurance! 

If I go sick (never happen so fare) I go to the doctor and pay maybe $8.50

If it go serous sick, I go back to Sweden, or my wife make a BBQ in the backyard.

No company want to make a  health insurance for affordable money anyway,

I'm to old they say.lol

 

If you live in Thailand 12 years, you are not entitled to Swedish healthcare any more. If you didn't report it to the Swedish authorities, you are in breach of law. Not much to brag about.

 

Oh and by the way, have taken a look recently on how the Swedish government healthcare service treats seriously ill patients recently? You will barely even get a queue number these days...

Edited November 24, 2016 by ThailandLOS

[NCC1701A]

i need $83,991 US dollars now to stay in the country?

sorry this exceeds my primary Thailand rule:

"never bring anything into Thailand that you are not willing to lose."

 

or

 

"Hello, real estate agent, sorry I have to cancel that offer on the house/condo/land, I just found out I need the money to stay in the country."

 

or

 

Wow how much money will they ask for in 10 years?

 

I will only be 71. What if they up the limit again?

 

 

[darren84310]

1 hour ago, hellstens said:

I live here for 12 years without any health insurance! 

If I go sick (never happen so fare) I go to the doctor and pay maybe $8.50

If it go serous sick, I go back to Sweden, or my wife make a BBQ in the backyard.

No company want to make a  health insurance for affordable money anyway,

I'm to old they say.lol

 

And if you're involved in an accident that doesn't allow you to travel to Sweden...... Then what?

[FunkyDunky58]

Maybe this is the first step in getting the farang out of Thailand. Rather than be open about it and evict us, just make it prohibitive for most to stay. Someone who's name I can't mention has expressed a dislike of us all being here.

[Gandtee]

At aged 83 what sort of health coverage would I get?The insurance company might agree to pay for the embalming fluid. And who needs a ten year visa at my age? 

[chrissables]

1 hour 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.

Because some can't get insurance or would prefer to self insure! Insurance is a business making lots of money, giving little back.

If the government is serious they could have their own scheme.

[siam2007]

1 hour ago, Just1Voice said:

I came here when I was 58, got married and tried to buy insurance.  Life Insurance was no problem.  Accident insurance was no problem.  4 different companies told me I could get health insurance, but it would be cancelled once I turned 60. 

 

 

 

several international companies offer a "life-long renewable guarantee". If they r based in Europe, for example, they have to comply with EU rules so they can not raise Premium to astronomical heights from one day to the other.

But expect to pay 200 - 500 € a month

[NCC1701A]

how many Expats over 50 on a retirement extension of stay in Thailand?

 

3,000,000 baht of new foreign currency locked into Thai banks in a opened ended deal?

 

do the math.

 

 

 

[just bob]

No way am I going to park that amount of money into a Thai bank with no pay on death provisions requiring my American family to do a probate here.  No way will I not continue to self insure. 

 

As to medical tourism, these people are not moving here.  They just come for a few months for the procedures and go home.  That's why its called "tourism". 

 

This ten year, really five year visa proposition was very poorly conceived.

[anotheruser]

10 minutes ago, mrfaroukh said:

It is a good idea to have the new 10 years insurance for those who can afford it and still keep the previous retirement visa. But compulsory medical insurance is a nonsense. I always buy travel insurance for the few months that I stay here everytime I come. It cover my medical insurance much better than the one we get here. I hope they will accept they travel insurance instead of medical insurance in Thailand.

 

That is doubtful. Travel insurance isn't for people residing abroad. So if the terms of travel insurance do not cover you why would this be accepted? I am pretty sure they will want your policy to actually be "valid". lol

[GeorgeCross]

16 minutes ago, natway09 said:

Mook 23

We are talking here about a major accident or illness that precludes travelling.

Would everyone stop dancing around the reality here.

If you are over 50 & want to retire here then 3 mil in your bank account  in Thailand is not excessive.

If that is too much maybe time to head home & let your ex nanny state take care of you

Singaporeans in Oz have to bring twice that into the country to live there.

 

3M is not excessive, being told where to put it, when to spend it and what to spend it on is though