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

[whaleboneman]

2 hours 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 "

 

 

Re-read again.

[janclaes47]

3 minutes ago, whaleboneman said:

2 hours ago, janclaes47 said:

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.

 

 

 

Maybe you should listen to yourself. Big sale at Big C today.

 

 

Which part of one year is it that you have difficulties with?

 

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. 

 

 

Edited June 17, 2017 by janclaes47

[Dustdevil]

2 hours 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.

 

 

Here-here. why would I want to invest when I can stick in a Thai bank.

[jmacken306]

2 hours 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.

 

 

I hear ya, I was lucky I was able to take out $20,000 or so 6 years ago  to stay here with my Thai wife!

[SymS]

10 minutes ago, Gramps said:

No thanks. I'll stick to my "no money in bank, 65,000 baht per month, one hour at Immigration once a year for an extension and multiple re-entry permit"  scheme.  Works fine.

I've done it 7 years so far, and the full process takes me around 8 to 20 hours in total per year.

[meatboy]

back in the 50's in my home town we used to have a bloke walk round holding up a big banner which said,

                                            "TRUST IN THE LORD"

only problem he's never came to thailand or never will.

[whaleboneman]

1 minute ago, janclaes47 said:

 

 

Which part of one year is it that you have difficulties with?

 

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. 

I'm not having any difficulties. Everything is peachy keen here, thanks.

[Kerryd]

Lol.

Does anyone honestly think that the Thai banks have anything at all to do with this ?

 

The tiny number of people that will go for this visa will not have any effect on the Thai banks at all ! Sheesh.

[connda]

1 hour ago, madmitch said:

I won't be doing it but understand that for some this could be an attractive proposition.

 

The continuing 90 day reporting is annoying and I really don't understand the reason for the 40,000 baht outpatient medical insurance requirement. If you can deposit 3m in the bank then you'd be able to afford your the odd visit to the doctor!

It's a gift from the Thai parliament to the insurance companies.  Actually, this all looks like a gift for the Thai insurance and banking industries.  Not a good deal.  It not worth an additional 2.2m THB on top of the 800k to save the hassle of going to immigration once a year for the Non-O extension dog-and-pony show.  That 2.2 m is definitely better invested elsewhere.  But I'm sure some fools will think otherwise.  Mai bpen rai.  

[aslimversgwm]

2 hours ago, darksidedog said:

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

They are thinking ahead to post-Brexit when there is no longer a UK!

[Araiwa]

What a rip-off.

[hellstens]

It's not first april yet.lol

[fish monger]

2 hours ago, quadperfect said:

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.

You are not alone in your belief...This place is not going in a very forward direction. 

 

[janclaes47]

8 minutes ago, whaleboneman said:

I'm not having any difficulties. Everything is peachy keen here, thanks.

Thanks for admitting that you were wrong.

 

Otherwise feel free to point out where it says that the money has to be deposited for 1 day more than 1 year.

 

 

 

Edited June 17, 2017 by janclaes47

[Kerryd]

2 minutes ago, SymS said:

I've done it 7 years so far, and the full process takes me around 8 to 20 hours in total per year.

 

Including time spent waiting (outside and inside) I think I spent 5 - 5 1/2 hours last year in total to do three 90 day reports and my annual renewal (add an hour if I'd had to do a 4th 90 day report but I took a short vacation instead which "reset" the 90 day clock).

Plus the 1900 baht for the extension and 3800 baht for the multi re-entry permit and a few coins for photos and photocopies. 

 

It's really not an effort at all.

 

[SpeakeasyThai]

Apart from the large dead money deposit in a Thai bank that is effectively being dimished / eroded over time this to me sounds fishy. Sounds like an excuse to make everyone on this visa have health insurance with a Thai insurance company. Whats wrong with just paying when you are sick or choosing your own international  insurance? Criminal background checks no problem but think i will stick to the 12 month retirement visa. Less hassle and easier on my wallet. Not sure i want to be here in 10 years anyway the way things are shaping up.

Oh and 10 years in a country and unable to buy a house? No thanks.

Edited June 17, 2017 by SpeakeasyThai

[Goldbear]

I don't see why it has to be *Thai* health insurance.  It's disappointing. Oh well.

 

I certainly hope that they don't eliminate the current retirement setup, like a few posters have suggested. 

[Gary A]

Why would an old man want to pay for an astronomically expensive health insurance  policy that will pay a maximum of way less than you have in the bank and could pay yourself?

[blackson]

1 hour ago, ubonjoe said:

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

 

maximum stay allowed is 6 months for the US visa. Canada is same.

(U.S. visas, a B-1/B-2 visa has a validity period (from 1 to 10 years), allows for either one or multiple entries into the U.S, and elicits a period of stay (maximum 6 months) recorded by the Customs and Border Protection officer at the port of entry on the individual's form I-94.)

[fish monger]

Pathetic joke...They never seem to think things through. Why in hell would anyone invest that amount of money in a country ruled by military....For all practical purposes, this country could implode at any time... Your funds are gone and the government could expel every single foreigner from the country... Thailand is not a very secure place to be...I don't care what anyone says...The bigger picture is looming....!

[uffe123]

It's all about money, and trying to squeeze more money out of the expats, not helping the expat. Who in their right mind would pay the fee, and keep that much money in a Thai bank.

Just plain stupid. 

[starky]

1 hour ago, jobwolf said:

You still have to do the 90 days reporting, so what has changed

 

Well if not your leaving often why would you consider a multiple entry. Just leave at least 4 times a year and you never have to report. Just like a normal multiple entry visa that I get every year but costs me 5000 baht not 3 <deleted> million. 

[impulse]

Allow an option for 3 million baht invested in real estate instead of a bank and you may have a win-win.  I know a lot of guys who would buy a condo for 3 million (or more) if it meant 10 years between their visa hassles.  

 

3 million baht at 0.05% interest?  Not so many.

 

Oh, and grandfather in the guys who already have 3 million into their condo...

 

Edit: And requiring 100,000 baht in health insurance is laughable...

 

Edited June 17, 2017 by impulse

[starky]

1 hour ago, SOUTHERNSTAR said:

Why only these countries? What about Oz or NZ ? Who decided on this list?  I wonder if they threw darts at a world map and listed the countries where the darts landed or was this the only countries they knew and could name ? 

 

Oz is there mate but the Kiwis miss out

[connda]

1 hour 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.   

Exactly!  

[4MyEgo]

2 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?

Could there be a hidden agenda, i.e. all current people living in Thailand who are not married to a Thai or on an extension of stay based on retirement will have to take out medical insurance through a Thai company or other and it must be renewed each year before the new extension is granted, that and lifting the current 800,000 baht requirement in the bank 3 months before the renewal and it must stay at the new level with no withdrawals below that amount, nah, I couldn't see that on coming ?  

Edited June 17, 2017 by 4MyEgo

[Thaidream]

The requirements are simply too high and the amount of paperwork such as police check and insurance too bureaucratic.  Te cost of a medical policy from a Thai insurer for anyone 50 or over with the required coverage amounts will be expensive and increase continuously as one ages. The outpatient requirement of  40K is absurd as most everyone would pay out of pocket when going to a provider for out patient care.

 

This Visa appeals only to a millionaire- who could care less about tying up 3 million Baht and the other costly insurance- for everyone else- it won't have any appeal. I doubt they will get 100 takers of the Visa per year. Very Similar to Permanent Residency- small number of takers- high cost with little real benefits.

[baansgr]

Just now, 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.

 

 

Its actually only one year and can be reduced if you have an income which most retirees will have some form of pension. Not ideal for some but will be suited for many others. If you divide the initial amount by 10, a figure of 300,000 per year equates basically to only 25k a month, most over 50s would spend far more than that.

[SpeakeasyThai]

3 hours 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?

People with more money than common sense.

 

Personally i think they (Thai Gov) just don't like us and this new draconiaun visa announcement is just another method of filling their greedy little corrupt boots.

Edited June 17, 2017 by SpeakeasyThai

[williamgeorgeallen]

even worse than the multi entry tourist visa. you want to quit work and go to thailand for 6 months? oh you need to have a job to get the visa.  cant see many people doing this visa either. if you want a good life in thailand you want to have as few as possible cash and assets there.