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

[janclaes47]

24 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.

 

 

Maybe you could buy some new reading glasses with that 90K USD, because it clearly states in the OP several times that the money only has to be kept in the account for 1 year, and under certain circumstances even only half of that amount.

 

 

 

Edited June 17, 2017 by janclaes47

[jacko45k]

Initially looked good , I would be happy not to do the yearly extension renewal....but...

3 million tied up and not usable.....and what are the conditions 1.5 million can be used.

Medical insurance is usually renewed annually,  not in 5 year blocks.

 

As it is a visa, I guess it must be obtained in my home country, so how do I verify 3 million in a Thai bank account?

How do I get Thai company medical insurance and why would I do that prior to getting the visa?

[ubonjoe]

9 minutes ago, SheepLover said:

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

It will be a 5 year multiple entry visa that can be renewed when it expires and then another 5 years if you meet the requirements for renewals. Only money in the bank and insurance will needed for the renewals.

I have read the translation of the announcement in the royal gazette.

You can reduce the 3 million to as little as 1.5 million in the bank after one year if used for certain purposes. The 1.5 million will be needed for the renewal.

[theoldgit]

As I read it, the requirements include cash in a Thai bank account and medical insurance with a Thai company, you have to acquire these before you are issued with your visa to travel to Thailand.

 

I'm assuming that you're expected to travel to Thailand as a regular visitor to open a bank account and source insurance from a Thai company, then travel back to your home country to apply for the first of your five year visas. 

[eggers]

20 minutes 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 :-)

Still have to do 90 day reports + usually, if poss,  combine annual renewal w/ report anyway.....

Plus, it's a 5 + 5 Visa , not fully 10 yrs!

 

Edited June 17, 2017 by eggers

[SongSomSoda]

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

As a foreigner? No way

Better put your money in Crypto( Bitcoin, Ripple , Etherum, DASH, Monero, Litecoin ) buy real stocks ( dividends). and real gold (safety)



My ETH made yummy 3000% this year and my ZEC 1000%. HEHE :-)

Go BTC!

Gesendet von meinem LG-H990 mit Tapatalk

[ubonjoe]

Just now, theoldgit said:

I'm assuming that you're expected to travel to Thailand as a regular visitor to open a bank account and source insurance from a Thai company, then travel back to your home country to apply for the first of your five year visas. 

In the announcement it appears immigration will be able to issue the visas also. 

[Dave67]

3 minutes ago, Maigret said:

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?

China 10 years ? I lasted 2 and had enough ,good luck with that

[janclaes47]

3 minutes ago, ubonjoe said:

You can reduce the 3 million to as little as 1.5 million in the bank after one year if used for certain purposes. The 1.5 million will be needed for the renewal.

That is not what it says in the OP.

 

" - 3 million baht must be kept in account for one year, can be reduced to 1.5 million under certain conditions "

 

 

[Dave67]

5 minutes ago, theoldgit said:

As I read it, the requirements include cash in a Thai bank account and medical insurance with a Thai company, you have to acquire these before you are issued with your visa to travel to Thailand.

 

I'm assuming that you're expected to travel to Thailand as a regular visitor to open a bank account and source insurance from a Thai company, then travel back to your home country to apply for the first of your five year visas. 

If you live in Thailand and work overseas its not that difficult

[dotpoom]

35 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.

 

 

Leave in bank for 1 year.

[Guest]

,m.km

Sent from my SM-J710F using Thailand Forum - Thaivisa mobile app

[JAG]

40 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?

Which group is it aimed at?

 

Vendors of Thai health Insurance?

[al007]

I like the idea of a proper 10yr visa, but not this, financial lunacy

 

Also at 72 with a list of preexisting conditions then insurance is going to be unavailable

 

Improve world opinion, treat males married to Thais like other countries with fair human rights and allow those married to get citizenship, and pay taxes

[dundas]

The visa you offer when you don't want to offer one ...

[faraday]

28 minutes ago, SongSomSoda said:

 

As a foreigner? No way

Better put your money in Crypto( Bitcoin, Ripple , Etherum, DASH, Monero, Litecoin ) buy real stocks ( dividends). and real gold (safety)



My ETH made yummy 3000% this year and my ZEC 1000%. HEHE :-)

Go BTC!

Gesendet von meinem LG-H990 mit Tapatalk
 

 

Yes mate, of course it did.

[phantomfiddler]

What if one is too old to get insurance ? Otherwise it looks like a good deal as long as the 10,000 Bht includes the multiple exit re-entry stamp.

[Deez]

Wake up Thailand. My (Thai) wife just got a 10 year multiple entry USA visa with no 90 days reporting for 6000 Baht and a Canadian 5 year multiple entry visa no 90 day reporting for 5500 baht.   

[ubonjoe]

30 minutes ago, janclaes47 said:

That is not what it says in the OP.

 

" - 3 million baht must be kept in account for one year, can be reduced to 1.5 million under certain conditions "

Same same. Just different words.

It says what the 1.5 million can be used for. In example a condo or vehicle purchase. The money can only be spent here.

[gk10002000]

57 minutes 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?

Or just buy the currently available 5 year Elite Visa for 500k Baht or 10 year for 800K baht.  Now the 10,000 baht cost of this new 10 year visa is somewhat tempting, but you have to put 3 Million baht cash in deposit IN Thailand.  Now come on, that is how most scams, or membership scam things start.  You pay up front, but you can't exit.

And requiring medical insurance, well, not a horrible idea, but as soon as something is required, if you by some oversight or misunderstanding do something wrong, then you lose your money that you had on deposit.

 

Granted there is some financial risk with this as well as the Elite Visa.  But I am comfortable with only fronting 500k baht than 3 million

Edited June 17, 2017 by gk10002000

[Toshiba66]

Interesting that New Zealand has been left off that list.

 

I wonder what you need to do to get 1.5 million back after the first year?

 

I wonder if that 1.5 million has to go back in for the visa renewal?

 

Seems like a crazy idea with this country becoming more and more unstable by the week.

[owl sees all]

Bitcoin or gold (not gold shares).

52 minutes ago, Mickmouse1 said:

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 ?

 

[captspectre]

will the qualifications be different for current retirement visa holders who have been in thailand for ten years? as to the money requirements and insurance? as I understand it insurance is not available for persons over 65? is that true?

 

[WhizBang]

Ridiculous.  3M in the bank, for one year.  How about an income of 3+M and no money in the bank, or any combination of income and bank balance.  And now demanding health insurance too, and from a Thai provider.

 

Now, do away with the 90 day reporting and I MIGHT be tempted.  But only might be, not really sure as I would need to see all the requirements without 90 day reporting.

[ubonjoe]

2 minutes ago, Deez said:

Wake up Thailand. My (Thai) wife just got a 10 year multiple entry USA visa with no 90 days reporting for 6000 Baht and a Canadian 5 year multiple entry visa no 90 day reporting for 5500 baht.   

Sure but how long can stay in the US or Canada without leaving. Certainly not one year or more.

 

[al007]

3 minutes ago, Deez said:

Wake up Thailand. My (Thai) wife just got a 10 year multiple entry USA visa with no 90 days reporting for 6000 Baht and a Canadian 5 year multiple entry visa no 90 day reporting for 5500 baht.   

So much agree Thailand needs to catch up, and also maybe UK not sure of the cost there but doubt it so reasonable

 

An additional comment The USA one is despite their tightening of control

[gk10002000]

49 minutes ago, Muggi1968 said:

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

Or stable for 1 or 2 years.  Once a foreigner breaks any conditions of the visa, which could happen by mistakes, billing errors, insurance oversights, not tomention some more nefarious things like false police allegations, baseless lawsuit filed by the angry ex girl friend or anybody else, or any number of other things, you are ousted and your money is siezed.  Seems way too risky by a very large amount

[silverhawk_usa]

I think how you feel about this depends a lot on your regular income.  BUT,  even if you meet the financial requirements, a major contradiction I haven't seen discussed is the insurance. When first contemplated this visa was supposedly aimed at medical tourism and that may still be their basic idea.  However, even living here, if you need medical care, you more than likely have "pre-existing conditions" that will generally deny you the Thai Health Insurance, or at least deny coverage for those conditions.

[ezzra]

Thailand is know to be an Indian giver type of managements when it comes

to all immigrations ' give and allow ' new laws and rules,

there's absolutely no guarantee that the schema will not be rescinded or watered

down the tracks in a few years,  if anything I have learned chasing all sorts of

visas in this country is that nothing is curved in stone or etched in marble when it

come to the immigration.....

[KittenKong]

4 minutes ago, WhizBang said:

Now, do away with the 90 day reporting and I MIGHT be tempted.  But only might be, not really sure as I would need to see all the requirements without 90 day reporting.

 

Given that this visa appears to target people who will be travelling back and forth quite a lot, they probably will avoid the need to do many 90-day reports, if indeed they need to do any at all. Even I will only be doing one report this year thanks to several overseas trips, and I live here.

 

That said, I agree that the 90-day report is a particularly pointless bit of Thai bureaucratic nonsense and appears to be designed solely to keep the farang in his place.