Thailand's New 10-Year Visas Meet Mixed Reactions

[dazzz]

3 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.

Makes me want to puke when i read the haves post slagging off the not haves . Why are you here ? This country is poor mans retirement . If you have lots of money why dont you live somewhere better .
 When i asked my thai wife why she thinks rich farangs live in thailand she replied . "they like to act like kings " Pretty much true i think .
 My pension is about 1000 pounds a month . When i came here it was 76,000 baht , now it is 43,000 . nobody could have predicted the baht would fall from 76baht to 43 baht to the pound. I have a wife and child . How much should i pay for insurance ? Should i now go home and leave them ? You sir are an obnoxious P8%^$# calling all expats who dont have a lot of money insane !!!!!!!!!!!!!!!!!!!

[Straight8]

35 minutes ago, NCC1701A said:

My naive hope is that someone in the Thai government who can read English has by now after reading all of the comments here are realizing that this new idea is a horrible one.

 

Be honest here, if Thai people voted tomorrow on this new proposed Retirement Visa, what do you think the results would look like?

 

Come on, I understand this will affect many good, honest, law abiding farangs, but the Thais have done their sums, and to them 65k / 800k won't cut it moving forward.

 

I do believe we still don't know exactly how this will pan out, and I think it won't be as black & white as we are reading it, meaning there still will be options, especially for those married and have families, but I don't see the Pension Visa in its current form surviving too much longer. Somethings' gotta give!!

 

 

[impulse]

26 minutes ago, vukovar77 said:

I will never pay expensive insurance in Thailand .I am 59 and if I have some bigger health problems ,I need to go in EU in my country and I can get all free with my card there!!!

 

Great plan unless you have a stroke or a heart attack or an accident that requires millions of baht worth of treatment before you're fit to travel.  Or you're out of your home country long enough to no longer qualify for the free treatment.  Or both.

[alocacoc]

lol, this is getting out of control here. I would like to drive a Lamborghini and living in 12 Million dollar house in California. But I can't afford it. Stop whining guys. Always have a plan B, particularly when living in a 3rd world country.

[anotheruser]

3 minutes ago, dazzz said:

Makes me want to puke when i read the haves post slagging off the not haves . Why are you here ? This country is poor mans retirement . If you have lots of money why dont you live somewhere better .
 When i asked my thai wife why she thinks rich farangs live in thailand she replied . "they like to act like kings " Pretty much true i think .
 My pension is about 1000 pounds a month . When i came here it was 76,000 baht , now it is 43,000 . nobody could have predicted the baht would fall from 76baht to 43 baht to the pound. I have a wife and child . How much should i pay for insurance ? Should i now go home and leave them ? You sir are an obnoxious P8%^$# calling all expats who dont have a lot of money insane !!!!!!!!!!!!!!!!!!!

 

It isn't anybodies fault but your own that you didn't consider what will happen if your currency goes down or hedge yourself against it. 

 

Anybody on a fixed income moving to a foreign country has to consider such a thing. You act as if it would take a genius to consider this. Sorry that poor planning and a reckless move put you in this situation but as the other poster said it isn't Thailand's problem.

[moe666]

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

[Spellforce]

For wealthy single men, the IB investment VISA is certainly a better option than the Elite VISA or that new 5 years VISA.

Edited November 24, 2016 by Spellforce

[NCC1701A]

15 minutes ago, anotheruser said:

 

Hmm not really. The value of the condo should be much greater than 3 million. It isn't cash after all and doesn't pay interest. With money in the bank they can use it for profit. A condo is worthless to them. They have a visa for people who have 10 million Baht into a condo I already I think.

"Mmm not really" for who?

 

Yes this is all just a ploy to get a influx of foreign cash into Thai banks.

 

BUT, if I just tied up three mil in a condo that cash is "gone".

No way to come up with more.

Have to leave Thailand and rent the condo.

Condo sales and rental glut, real estate market drops and the 17 million baht I was going to spend in Thailand over the next twenty years goes to some lucky Cambodians.

 

We can poke holes in this stupid plan all day.

 

[anotheruser]

2 minutes ago, NCC1701A said:

"Mmm not really" for who?

 

Yes this is all just a ploy to get a influx of foreign cash into Thai banks.

 

BUT, if I just tied up three mil in a condo that cash is "gone".

No way to come up with more.

Have to leave Thailand and rent the condo.

Condo sales and rental glut, real estate market drops and the 17 million baht I was going to spend in Thailand over the next twenty years goes to some lucky Cambodians.

 

We can poke holes in this stupid plan all day.

 

 

Exactly. They aren't interested in somebodies 3 million condo in Jomtien. They want cash injections, that was precisely my point. You have 17 million to spend nut no health insurance and can't prove 100K a month or deposit 3 million? 

Edited November 24, 2016 by anotheruser

[i claudius]

4 hours 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. 

 

 

This happened to me ,but i was offered cover at 60 11 years ago for 3k a month , and it was basic , i use the queen Sirikit hospital in Satahip , pay the falang rate , they are very good , also still have a British medical card and use my doctor when home .

[PattayaBoy]

They should call it Rip off visa :)

[farcanell]

4 minutes ago, Straight8 said:

 

Be honest here, if Thai people voted tomorrow on this new proposed Retirement Visa, what do you think the results would look like?

 

Come on, I understand this will affect many good, honest, law abiding farangs, but the Thais have done their sums, and to them 65k / 800k won't cut it moving forward.

 

I do believe we still don't know exactly how this will pan out, and I think it won't be as black & white as we are reading it, meaning there still will be options, especially for those married and have families, but I don't see the Pension Visa in its current form surviving too much longer. Somethings' gotta give!!

 

 

 

Is this assumption that 65k won't cut it based upon your opinion that the Thais want expats to spend more money, verses an amount similar to what they spend, in retirement

 

and honestly... they seemingly can't vote on anything.... so this has little to do with the average man in the street, and more to do with government (departments) wanting more foreign money invested in the country, without having to sell the country (legitimate and irrevocable ownership by an expat)

 

and when you cark it... that money stays in Thailand... benefactors overseas will get the finger

 

but... you are right in your last paragraph.

[i claudius]

How many Thai people have 65k a month to spend and 800000 baht in a bank account?

Sent from my ASUS_T00J using Tapatalk

[DogNo1]

As an over-seventy person who spends six months in Thailand each winter, it would be more convenient to have a three-year visa so I would have more flexibility regarding when I can leave Thailand in the spring. As it is now, with my permission to stay expiring on May 12 and a monthly apartment rental the earliest I can leave is after I renew my permission to stay in April, effectively May 1. Next year I would like to leave on April 1 but if I do, I'll have to start the one-year extension process all over - a big pain in the neck.

Regarding health insurance, numerous discussions on TV have concluded that self-insuring is preferred for older people. I wonder if the government is colluding with insurance companies in offering this ten-year visa.

 

[chainarong]

3 hours 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

Ever seen twelve months premiums, priced out of the market,  I use SOS

[Straight8]

1 minute ago, farcanell said:

 

Is this assumption that 65k won't cut it based upon your opinion that the Thais want expats to spend more money, verses an amount similar to what they spend, in retirement

 

and honestly... they seemingly can't vote on anything.... so this has little to do with the average man in the street, and more to do with government (departments) wanting more foreign money invested in the country, without having to sell the country (legitimate and irrevocable ownership by an expat)

 

and when you cark it... that money stays in Thailand... benefactors overseas will get the finger

 

but... you are right in your last paragraph.

 

arrrh, probably theirs, hence the reason for moving the goal posts.

 

My opinion is 65k should be well enough for now, having said we'd be naive to think it would stay that way indefinitely.

[TKDfella]

I agree with many comments here but ' ...I totally agree with the post that there are other countries will be more attractive under these kind of conditions....' could have the answer. As we know many of the street vendors have been removed and I read yesterday that similar action is to be taken on main roads/highways. Rightly or wrongly many saw these as attractions and part of the Thai character. I wonder how many expats could afford to 3M Baht in the bank untouchable for one year? Not many I fear and probably only those who are 'well-off' or rich. I wonder if the present gov wants to move towards a Thailand that is more of a 'millionaire's playground' type rather than a 'family holiday destination. If that is in the gov thoughts then there are a lot more things to 'clean up' too (maybe they'd like a James Bond type of high society, Ha!)

[DavisH]

3 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. 

What if you are medically unfit for travel...e.g after a serious accident and on life support?

[simon43]

sadly, Myanmar still does not offer any such option. They r busy re-building their country and probably have other thoughts atm. Incredibly nice people, BTW

 

I live in Myanmar.  It's true that right now, there is no 'retirement' visa option.  But I strongly believe that this is on the cards for the future.  Myanmar recently introduced Permanent Residence for foreigners, (5 years @ $1,000 per year), renewable.

 

In any case, Myanmar still lacks comprehensive medical facilities.  Give it perhaps 5 years and I hope both issues that I mention will have found a solution.

[catman20]

4 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.

my cover is 5 million baht no problem

[farcanell]

5 minutes ago, Straight8 said:

 

arrrh, probably theirs, hence the reason for moving the goal posts.

 

My opinion is 65k should be well enough for now, having said we'd be naive to think it would stay that way indefinitely.

 

No problem with that... but it needs to be grandfathered in ( I think that's the right term)... new retirees paying more, keeping the status quo for existing retirees, to a large extent

 

IMHO.... it's a money grab move.... adversely effecting a lot of people that were previously encouraged to com to LOS

 

expat style housing prices will suffer short term, but probably rebound well enough, over time, for those that can afford to ride out the storm.

 

but again, referencing your last paragraph in previous post.... the deals not done yet, and we will have to see what the end product is

 

encouraging is that there is a follow up story... are they actually listening?

[PattayaAJF]

2 minutes ago, TKDfella said:

I agree with many comments here but ' ...I totally agree with the post that there are other countries will be more attractive under these kind of conditions....' could have the answer. As we know many of the street vendors have been removed and I read yesterday that similar action is to be taken on main roads/highways. Rightly or wrongly many saw these as attractions and part of the Thai character. I wonder how many expats could afford to 3M Baht in the bank untouchable for one year? Not many I fear and probably only those who are 'well-off' or rich. I wonder if the present gov wants to move towards a Thailand that is more of a 'millionaire's playground' type rather than a 'family holiday destination. If that is in the gov thoughts then there are a lot more things to 'clean up' too (maybe they'd like a James Bond type of high society, Ha!)

 

I agree with the above .. we have all been very luck here for the past years .. no other country in the world to my knowledge has offered what Thailand offers with respect to "Retirement Visa" .. however the world does not remain the same and if Thailand is determined to bring its "Retirement Requirements" with most other countries of the world then so be it .. after all .. its not about us .. 

having said that .. the new requirements are not as difficult any OECD country and on par with My2ndHome in Malaysia (USD50k in the bank with similar withdrawal restriction and compulsory comprehensive health insurance) so perhaps we can slightly change the discussion to the positive by looking for other options .. Panama i hear has quite an attractive retirement plan .. anybody knows some more??

perhaps if there are no other options then we are just witnessing the end or an era .. 

[catman20]

15 minutes ago, chainarong said:

Ever seen twelve months premiums, priced out of the market,  I use SOS

i dont disagree with you but ive known a few people who said what you said only to be told by the airline they wont take you, then what ????? BBQ

[Artisi]

Early days yet with the pipe dream 10 year visa - just read what they have to say, store it away for a rainy day and sit back and wait till next week when it will be a different story / set of rules / wishful thinking / idea / confusing announcement - in the meantime enjoy life, stop worrying about the nonsense of long term visa's.

[farcanell]

13 minutes ago, DavisH said:

What if you are medically unfit for travel...e.g after a serious accident and on life support?

 

Thats what bubble wraps for... don't you wear yours, when out and about?

it also has the duel effect of a rain coat, during the wet ?

[NCC1701A]

7 minutes ago, anotheruser said:

 

Exactly. They aren't interested in somebodies 3 million condo in Jomtien. They want cash injections, that was precisely my point. You have 17 million to spend nut no health insurance and can't prove 100K a month or deposit 3 million? 

I think you should read all my post on this thread. 3,000,000 is way too much money to tie up just to stay in Thailand. It makes no business sense FOR ME. It is too unstable here.

 

My 17 million figure is over 20 years.

 

And where did I say I have no health insurance? I am with Bupa Health Insurance and have been from the first day I stepped into Thailand. Platinum Level. About $2,800 USD a year. no problem.

 

Seriously you want to be forced to tie up 3,000,000 baht in a Thai bank FOREVER or until you leave and be told how you can spend your money? Is there going to be a exit tax announced on theses accounts in the future?  

 

I am OK with the million I have in Bangkok Bank to show for my retirement extension of stay.

But that is it, and no restrictions on or accounting of withdrawal except 90 day prior to renewal.

 

3,000,000 is $84,135 USD. I could easily buy two small houses back east in the USA for cash and have a cash flow of $500-700 a month.

 

And the immediate effect of JUST THE PLAN to do this is I will not be buying a condo here now.

And how many other people all over the world are thinking the same. The money we had for our condo just went away. 

 

Did the Thai government run this plan past the bargirls? They would have shut this down right away.

 

[Artisi]

4 minutes ago, PattayaAJF said:

 

I agree with the above .. we have all been very luck here for the past years .. no other country in the world to my knowledge has offered what Thailand offers with respect to "Retirement Visa" .. however the world does not remain the same and if Thailand is determined to bring its "Retirement Requirements" with most other countries of the world then so be it .. after all .. its not about us .. 

having said that .. the new requirements are not as difficult any OECD country and on par with My2ndHome in Malaysia (USD50k in the bank with similar withdrawal restriction and compulsory comprehensive health insurance) so perhaps we can slightly change the discussion to the positive by looking for other options .. Panama i hear has quite an attractive retirement plan .. anybody knows some more??

perhaps if there are no other options then we are just witnessing the end or an era .. 

Currently visa extentions are a walk in the park and probably won't change dramatically in the near future.

[anotheruser]

Just now, NCC1701A said:

I think you should read all my post on this thread. 3,000,000 is way too much money to tie up just to stay in Thailand. It makes no business sense FOR ME. It is too unstable here.

 

My 17 million figure is over 20 years.

 

And where did I say I have no health insurance? I am with Bupa Health Insurance and have been from the first day I stepped into Thailand. Platinum Level. About $2,800 USD a year. no problem.

 

Seriously you want to be forced to tie up 3,000,000 baht in a Thai bank FOREVER or until you leave and be told how you can spend your money? Is there going to be a exit tax announced on theses accounts in the future?  

 

I am OK with the million I have in Bangkok Bank to show for my retirement extension of stay.

But that is it, and no restrictions on or accounting of withdrawal except 90 day prior to renewal.

 

3,000,000 is $84,135 USD. I could easily buy two small houses back east in the USA for cash and have a cash flow of $500-700 a month.

 

And the immediate effect of JUST THE PLAN to do this is I will not be buying a condo here now.

And how many other people all over the world are thinking the same. The money we had for our condo just went away. 

 

Did the Thai government run this plan past the bargirls? They would have shut this down right away.

 

 

All you need to do if you have insurance is show 100K a month in income if you don't want to deposit 3 million. 

[Caspersfriend]

So many on here ridicule those who run the country.

 

Many of those underestimate the capabilities of the regime that currently run the country.

 

There will always be a place here for the "Good Guys".

 

 

[farcanell]

3 minutes ago, anotheruser said:

 

All you need to do if you have insurance is show 100K a month in income if you don't want to deposit 3 million. 

 

I thought I also read that you have to show how and that you are spending it.... that's 200,000 baht for myself and the missus... way to much to be spending in retirement.

 

so you save it... again... money potentially lost at days end, to the Thai system.