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

[BernieOnTour]

Well, if they do not extend the conditions that offers absolutely no benefit for me:

 

1) only bank account based (no option based on income like retirement visa).

- I will not "park" 80.000 € in a country, which in 1997 led the Asia crisis and where the Thai Banks -practically the same as now, but with other names- went bancrupt. And the Baht is IMO again over-valued.

- The political landscape not stabilized, because the underlying real issues are not finally solved.

- A country, constantly changing the rules applied for foreigners.

 

2) An insurance which is not worth its money

- I have already a very good coverage by an european insurance 

- The Thai coverage is ridiculously low.

- So, practically, the insurance is not worth the paper, it is printed on.

 

If they want to support the lobbyists from Thai banks and Thai insurances:

   up to them, but not with me.

 

I assume, the last word about the "old" retirement visa is still not written ...

-> it's time to travel more intensively and explore alternative options.

 

 

 

[SongSomSoda]

If someone know you have 3 Million THB sitting somewhere your are definitely in danger in Lieland life is cheap ( 5000-10000 and you are dead meat)

Gesendet von meinem LG-H990 mit Tapatalk

[elgenon]

If you need 1.8 million in the bank, the 40,000 insurance coverage is a relative pittance. Mai kao jai.

[YetAnother]

Must the three million in the bank be in one name only and can the three million be spread across multiple accounts?

[TallGuyJohninBKK]

14 minutes ago, YetAnother said:

Must the three million in the bank be in one name only and can the three million be spread across multiple accounts?

I don't know about the multiple accounts question.

 

But if past Immigration practice is any indication, the money definitely would have to be in an account or accounts ONLY in the name of the visa applicant, and not shared with anyone else.

 

[TallGuyJohninBKK]

2 hours ago, gandalf12 said:

What exactly are the certain conditions that allow the Baht 3m to be reduced to Baht 1.5m? There is nothing related to this in the post just a mention of "certain conditions"?

That detail has been explained in later posts after the OP...

 

After the initial year, a portion of the banked funds can be spent only on categories of things approved by the Thai government, such as buying a condo here, buying a vehicle here, tuition and medical expenses, presumably here.

[canuckamuck]

Isn't the 3 million already a kind of insurance? 

Edited June 17, 2017 by canuckamuck

[ukrules]

I can see one reason why they are offering this visa, even if nobody applies for it.

 

The US administration recently announced that it was going to take reciprocal action against countries which don't issue visas that last as long as the visas issued by the US Government.

 

Now Thailand issue a 10 year visa.....

[GOLDBUGGY]

8 hours ago, Kerryd said:

You would not be allowed to work in Thailand.

 

"Foreigners are not permitted to work while staying in Thailand on the visa"

 

Just like with the Retirement Visa/Extension. You can work outside of the country, just not inside of it.

Are you completely sure about that? Or is it them not caring and thus it is okay. 

 

The never cared years ago if you worked 28 On and 28 Off and came to Thailand without a Visa on your Off Days. But today you will be questioned a lot if you keep doing this. 

 

Next time you leave Thailand check out the new Entry/Exit Cards on the back. Where they ask how much money you make. 

[Juan B Tong]

9 hours ago, SOUTHERNSTAR said:

Wrong friend. I got a quote last year from a Thai company and with a very big deductable included my cover here excluding inpatient cover would have been 3 times my international cover. The reason is simple they hit you with extra premiums due to higher than 25 BMI. So instead on paying B 54 000 for Thai cover I got US cover for B 17 000. My estimate is to get yourself covered will cost you more than B 120 000 that is if you can get cover. But try and let us know. By the way they only said what the price of the visa was and not for the re-entry permit which they could load on top of it. You must also bring in the cost of renewal at 5 years. Sit back first and see what happens and then do calculations. 

Hi,

I thought I read the headline as "Thailand to launch new 10 year multiple entry visa for over 50's"?

 

Must be different on your edition.

 

And I can,t understand your math.  Your numbers are for what time period?  B54,000/17,000 ($1600/$500) per month or year?

let us all know where you are getting insurance for $500/year.

 

As noted I am paying $1500 year for $300,000/5000 no outpatient at 70 yr old.   Coverage in any/all countries.

 

Also there are ways to get your BMI down.

 

And please dont you call me "friend".  You ain't my friend and based on your level of literacy and your attitude, I dont want to be called friend by you.

 

have a nice day.

Edited June 17, 2017 by Juan B Tong

[canuckamuck]

I am thinking that when someone goes to get one of these visas it will be a similar conversation to this one.

 

[GOLDBUGGY]

8 hours ago, KittenKong said:

 

Such rules only relate to employment within Thailand. They never care about what you may be doing elsewhere.

Are you sure about that? I read that it said you can't work while living in Thailand. It did not say you can't work in Thailand. 

 

After all it is a Retirement Visa. So I gather this is for people who are Retired and thus not working anymore. I am sure you are right about them not caring right now, but no caring doesn't make it legal. They didn't care if you came here 6 times a year without a Visa, but they sure do now. So I would be very careful for anything about them not caring right now. 

[fullcave]

10 hours ago, BigBadGeordie said:

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 :-)

Have to report every three months regardless.

 

But the bit I find incredibly dull witted is - "Health insurance provided by Thai company, Outpatient coverage minimum 40,000 baht, Inpatient coverage not less than 100,000 thousand baht."

 

If you have 3 million sitting in a Thai bank why the hell would you need 100k of Health insurance provided by Thai company, do they worry you won't be able to afford 100K in medical bills or 40,000 baht in outpatient expenses?   

[fforest1]

5 minutes ago, fullcave said:

Have to report every three months regardless.

 

But the bit I find incredibly dull witted is - "Health insurance provided by Thai company, Outpatient coverage minimum 40,000 baht, Inpatient coverage not less than 100,000 thousand baht."

 

If you have 3 million sitting in a Thai bank why the hell would you need 100k of Health insurance provided by Thai company, do they worry you won't be able to afford 100K in medical bills or 40,000 baht in outpatient expenses?   

 

I think this previous post sums things up nicely....

 

You need only 40k/100k coverage OPD/IPD. This is likely cleverly calculated, as this coverage is way too low for any treatment, on the other hand also so low, that nobody would go to court and sue. So insurances can just pocket the money without any payout in case of emergency.

[wvavin]

Formulated by people with a square brain! Could not have been more stupid! 

[Thomas Hannah]

6 hours ago, Lee4Life said:

then the requirements to have the funds in a Thai bank would not have to be met if the visa was applied for in the home country and the applicant had sufficient funds in a bank there

You can set up everything ,including bank account from your own country.

[BigBadGeordie]

2 hours ago, jhonnie said:

aimed at hi so s'

Well that's me out of it then.

[cyberfarang]

11 hours ago, merijn said:

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?

I`m with you all the way on this. Besides not having to visit immigration once a year, I can`t see any benefits of this scheme at all.

 

No concessions for retirees, plus being tied to having large amounts of money in a Thai bank for 10 years and compulsory private medical insurance where are far as premiums are concerned, the sky`s the limit.  If the Thai government were to established some kind of realistically priced medical insurance scheme for expats, then I would definitely go for it, but they`re o0ffering nothing, so what`s the point?

 

What I can see happening in the future is that the Thai government will introduce this scheme as compulsory for all new retirees considering retiring in this country. Personally, I don`t like the look of this.

[IAMHERE]

The worst part of 3 million baht in a Thai Bank is a loved one getting it after you die, takes an act of congress to get it then. Read so much like a money making scheme for banks and insurance companies.

[Thingamabob]

This is pointless. You will have to renew after five years,  and lock in 3m baht at very low interest rates. 

[jcb2001]

Total Hogwash!  A program that will fail miserably.

[cedel]

13 hours ago, nev said:

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

rich ...and stupid..Who would be stupid enough to block 3M baht on a current or saving account where you lose money at they end because of the inflation !!

I'm sure if you have the 3 M in mutual funds it will not count, the same shit I have to do for the 800,000 baht every year: sell funds or stocks and leave the money with a ridiculous interest for 3 months...But here it seems it would be much more than 3 months...and 3 M baht...total nonsense...

You would lose, so in fact it woud cost you at least 1 or 2% per year on this amount...make the calculation..

 

[kilt]

11 hours ago, KittenKong said:

 

The visa was described as "multiple entry". Therefore a re-entry permit should not be required.

 

It is entirely true that the cost of a re-entry permit (3900B for a multiple) would have to be added to the cost of a retirement extension for comparison purposes, assuming that the person in question actually wants to come and go often as I mentioned.

Not to mention filing a new TM30 every time you exit and re-enter the country...

[cedel]

Thai people and geography has always been 2..

They don't even know that Belgium  and Luxembourg are 2 high revenue/GDP countries at least similar OR HIGHER than the one listed and that Belgium (and Luxembourg) are located between France, Netherlands, Germany, and UK ..Maybe too small countries ?

 

[George FmplesdaCosteedback]

Only one question as we heard all this last year.

Will the current visa "retirement extension of stay" still be available?

 

As far as I can see this is just for the wealthy that can afford tie up millions of baht with no interest in a Thai bank. It will be as popular as a python in the bed sheets I would think.

 

[jack19201]

It is disgusting these policy maker will never learn, Why one should put money in Thai bank and can not withdraw for visa even married to Thai Lady, really shame on policy maker. I married to a Thai Lady three Yrs ago And as a India have a Indian visa for life as a OCI card After two Yrs married to Foreigner An Indian  origin person can apply for a life time visa for His or Her partner with no money deposit or any sort of guarantee, Which I got for my wife three months ago. She can do work open a business but land etc all can be on Her name alone. wake up- wake up Thai immigration Policy maker. try to get bit real .

[Hal65]

Do Thai investment accounts qualify? Or do they have to be savings accounts?

[HerbalEd]

16 hours ago, quandow said:

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

No. 

[HerbalEd]

16 hours ago, quandow said:

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

Please do tell, where is your line for "folks" having too much money? 

 

 Also, it's not "lazy" to want as few hassles as possible in one's life. I'm happy to pay for convenience -- at least up to a point. It's fine if you're not, but don't fool yourself that you have more "sense" than those who choose a different way.

Edited June 17, 2017 by HerbalEd

[George FmplesdaCosteedback]

9 minutes ago, HerbalEd said:

1.5m to 3m is "too much money"??? Please do tell, where is your line for having too much money.

 

 Also, it's not "lazy" to want as few hassles as possible in one's life. I'm happy to pay for convenience. It's fine if you're not, but don't fool yourself that you have more "sense" than those who choose a different way.

With an attitude like that you should remember that old saying: "a fool and his money are soon parted".

Just the sort of people the Thais are looking to join this scheme.