Thailand to launch new 10 year multiple entry visa for over 50s

[rooster59]

Thailand to launch new 10 year multiple entry visa for over 50s

 

 

BANGKOK:-- Foreigners in Thailand  will soon be able to apply for a 10 year visa.
 
First proposed in November 2016 as a way to promote Thailand as a medical and wellness hub, Thaivisa understands the 10 year visa was this week formally approved by the Prime Minister.
 
The new Non O X visa will be available to anyone who is over 50 years of age and from one of the 14 countries listed below.
 
Applicants will need to have a minimum 3 million baht in a Thai bank account, or a combination of 1.8 million baht in the bank and income not less than 1.2 million baht.
 
The 3 million baht  must be kept in the bank as a deposit for a period of one year but can be reduced to 1.5 million under certain conditions. 
 
Criminal background checks are required on all applicants, who must also have valid medical insurance from a Thai insurance company for the duration of the visa.
 
Foreigners are not permitted to work while staying in Thailand on the visa and 90 day reports are still required.
 
The visa will cost 10,000 baht and will be valid for 5 years, before being renewed for a further 5 years.
 
The new Non O X visa will be available from 11 August, with an official announcement expected imminently.
 
The Non O X visa does not replace the current annual retirement extension.
 
Thailand 10 year visa in brief:
 
- Over 50s only
- 14 nationalities eligible: Japan, Australia, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Switzerland, Sweden, Great Britain and Northern Ireland, Canada and United States of America.
- Minimum 3 million baht in Thai bank account
- or combination of 1. 8 million in the bank and income not less than 1.2 million
- 3 million baht must be kept in account for one year, can be reduced to 1.5 million under certain conditions
- Criminal background check from country you hold passport
- Health insurance provided by Thai company, Outpatient coverage minimum 40,000 baht, Inpatient coverage not less than 100,000 thousand baht
- Not permitted to work
- Unlimited entry valid for 5 years
- Fee is 10,000 baht
- 90 day report still required.
- Visa issued in two 5 year periods

 

 

 

-- edit - update to list of eligible nationalities. 

 

 

 

-- © Copyright Thai Visa News 2017-06-17

[canuckamuck]

Yeah I got 90k USD that I don't need. I'll just put it in a Thai Account for 10 years instead of making money with it.

I mean it's so worth it not to do lineups as often at immigration.

 

 

[Pilot3Boz]

Awesome to see this moving forward from the proposed idea... Looking forward to this... Will make my life much simpler for my requirements and schedule.... Thank You PM!! I know I will get pounced on for actually supporting this idea... 1.8M with income works.... I really like the multi entry aspect.....

Edited June 17, 2017 by Pilot3Boz

[BigBadGeordie]

In comparason to my Non O, followed by 10 extensions of stay based on retirement, this does not seem particularly attractive.

 

I fail to see which group it is aimed at?

[quandow]

Didn't the last time they tried something like this fold after a year or two and everyone wound up holding worthless paper?

[quandow]

Just now, BigBadGeordie said:

I fail to see which group it is aimed at?

Aimed at lazy folks with too much money and no sense at all.

[BigBadGeordie]

3 minutes ago, canuckamuck said:

Yeah I got 90k USD that I don't need. I'll just put it in a Thai Account for 10 years instead of making money with it.

I mean it's so worth it not to do lineups as often at immigration.

 

 

Yeah, those extra 8 or 9 visits to immigration over a 10 year period to extend your stay are surely worth such a small amount of money :-)

[darksidedog]

They must really wants the Brits. In the list of countries we are listed twice, UK and Great Britain and Northern Ireland.

[johnefallis]

No wonder why I don't live in Thailand anymore, lol

 

Having this visa will definitely make you a target. 

 

[merijn]

I don't see the advantage of this.

You can get easily a one year extension based in retirement for 1900 baht.

If you have the money for the 10 year visa and are forced to tie up the money why would you not go for the normal 1 year extension instead?

[BigBadGeordie]

1 minute ago, quandow said:

Aimed at lazy folks with too much money and no sense at all.

Shame, I only meet 1 out of the 3 criteria you identify.

But re-reading your post, possibly 2.

I have no money.

[SongSomSoda]

555 who is doing this? 3 M holy shit that's a lot of dividends . GO NOKiA!

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[quadperfect]

Idiots. I bet not 1 person will get this visa.

If they do then they are fools?

A military run country is not a place i would put 90k in and its also why i dont put 25k in.

Why bother printing this crap.

I bet soon after they remove the retirement visa. 

Thailand is bent on destruction of expats amd tourists i read about it every day.

I dont think there is any hope for this place . 

Its all down hill since 2014

Just my opinion.

[SongSomSoda]

And later: sorry Mister, have problem your bank account someone withdrew everything 3M yesterday. We do everything to get it back, just relax.

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[Mickmouse1]

I would rather keep it in the stock market/blue chip Co n earn good €£$ still can go to LOS any time without paying for a visa.....Laos is beautiful ?

[SheepLover]

A 10 year visa that lasts for 5 years and maybe another 5 years or maybe not............?

[yellowboat]

Delusional.  Laughable.  Out of step with the rest of Asia.

[scotchonrocks]

Total tosh again. If I had spare 3m baht i would rather buy flights in and out and rotate. Nonsense as usual!

[Artisi]

Just breaking my neck to put 3mil. in the bank, pay bht 10,000 and still do 90 day reports, the attraction is so unbelievable, I'll be at immigration 11th August just begging for the opportunity -  then I woke up from my dream. 

 

Typical convoluted useless thinking. 

[Dave67]

I'll have some of that, even if I dont pull the pin on work in the next few years its handy for working overseas and not having to renew a Non immigrant in a different country every couple of years (For the pedantic ones , I renew my visa every year but most contracts/projects last 2 to 3 years and that usually means another country to work in and attain a Visa ,cheers)

[Muggi1968]

Can we trust that Thailand will be stable for 10 Years and trust them to take good care of our money  ????? 

[SongSomSoda]

I would rather keep it in the stock market/blue chip Co n earn good €£$ still can go to LOS any time without paying for a visa.....Laos is beautiful [emoji38]

Never went there. I don't know why I keep coming back to Lieland and this shi.thole Pattaya is my second home.

I could cry thinking how nice it was 15 years ago.

Maybe time look other countries before it goes totally downhill.

Still good value, though.

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[Artisi]

Just now, Muggi1968 said:

Can we trust that Thailand will be stable for 10 Years and trust them to take good care of our money  ????? 

No. 

[bino]

Why do they call it a 10 year visa when in fact it is only a 5 year visa?  What will be required after 5 years to obtain a further 5 years?

 

This sounds like a 30 year lease that is "guaranteed renewable" for 2 more periods of 30 years, when there is really no guarantee at all.

[dinsdale]

Only for the well off and dare I say stupid. 3 mil in our banks or income of 100,000+ p/m (you can't work in Thailand) and 1.8 mil in a Thai bank. 140,000 health insurance. I'm assuming this is per year. 1.4 mil+ for 10 yrs. What's the benefit?

[nev]

Such a shame they are only target the rich and not the average working class.

[darksidedog]

If Thailand keeps sliding downhill the way it has been doing of late, I am not sure I want to be here for another 10 years anyway.

[taichiplanet]

they way i read it, the 3 Mil is only there for one year? Definitely want a guarantee on the 3 Mil, i think at the mo government only guarantee 1 Mil if the bank goes bust.

 

And why say 10 years when you mean 5 years!

 

The other big problem is the health insurance, that will cost at least 50k a year. It is a good idea to have the requirement but only in-patient necessary. Thai health insurance is pathetic in its coverage anyway.

 

Edited June 17, 2017 by taichiplanet

[KittenKong]

13 minutes ago, BigBadGeordie said:

In comparason to my Non O, followed by 10 extensions of stay based on retirement, this does not seem particularly attractive.

 

I fail to see which group it is aimed at?

 

Reading between the lines it appears that for this visa you wont need to get a re-entry permit, and if so this visa would in fact be cheaper than a retirement extension for anyone who goes in and out fairly often.

 

So I suspect that this visa targets those who intend to go back and forth a lot, and who may not be here all the year to be able to renew an extension, whereas the retirement extension targets people who mostly want to stay put. Indeed the article itself mentions that the visa is designed to promote medical tourism.

[Maigret]

Yet again, Thailand and its nefarious government decision makers are so out of touch.   I just picked up a 10 year multi-entry Chinese visa for roughly $140.  No deposits, no background checks, no cavity probes.   It took roughly 4 days to get the visa approved.

 

Why in the world would anyone put up with this Thai nonsense?

Edited June 17, 2017 by Maigret