10-Year Visas Now Available: Thai Immigration

[JRUSA]

7 hours ago, ferguston said:

It will be interesting to see how many of the dodgy "visa agents" start to offer the 10 year visa along with their current "dodgy retirement visas ".

I'm just curious, other than the financial proof, was dodgy about them..

[TallGuyJohninBKK]

5 minutes ago, Bruce404 said:

Why not just call it a 100-year visa, in 20 installments every five years, each requiring all the financial and other paperwork?  

SSSSHHH!!!!!!   Don't give them any bright ideas!!!  
 

[Tofer]

6 minutes ago, TallGuyJohninBKK said:

Not sure where you're getting that idea from... The actual requirements (from ThaiVisa) are as follows:

 

 

From the 'full story' attached to the original headline post and the 'associated story' therein.

 

Of course if you have the full official details please disclose them, I would happily stand corrected, to make an informed choice.

[ChouDoufu]

so instead up putting $24K in the bank, they

want i should put $90K in....at 1% interest?

 

rather expensive opportunity which will only

save me three trips to immigration...maybe.

 

and what if...after 5 years, i decide to move on.

just how do you move cash out of thailand if

not earned here?

Edited August 16, 2017 by ChouDoufu

[theguyfromanotherforum]

To buy a BMW 3 Series GT

Money not enough

[Seismic]

59 minutes ago, dcnx said:

Why waste my time at immigration or worrying about a visa when someone else takes care of all of that for me? You may not value your time but many people do, and it's too valuable to be wasted by Somchai at immigration who may or may not require a new form on any given day for no reason whatsoever, without prior notice. I'll gladly pay someone to make sure my visa / immigration issues are hassle free.

 

Regarding the money.... Let someone else use their 800k and invest yours. 

 

 

My last extension of stay  took just over 35 minutes at Samut Prakan immigration. I don't put 800K in a Thai bank. I am quite happy to spend that much time, plus the hour or so getting all the documents together once a year.

[ChouDoufu]

" Although the new retirement visa has been available since Friday, Natthathorn said he has not seen any applications come across his desk so far"

 

be fair.  monday was a holiday.

[Dogmatix]

8 hours ago, cornishcarlos said:

So this 10 yr visa (that is seems no immigration staff know about) comes in two 5 yr installments !! So it's a 5 yr renewable visa then ?

 

Where's the 5 yr visa for married or parents ? 

 

This is it.  Nowhere does it say that those married to Thais and/or parents of Thais are ineligible for this visa.  If you are retired, you can apply whether you have  a Thai family or not.  It is non-discriminatory.  What's not to like about it?

[lkv]

There is no Thai Visa that grants a permission of stay per entry longer than 12 months (O-A and Elite).

 

Hard to believe this one would.

 

So most likely it will have the functionality of a 5 year Thai Elite, meaning if you don't leave the country for 12 months you extend for another 12 months @1,900 baht.

 

Thai Elite for 20 years is 5 years x 4.

 

This one for 10 years is 5 years x 2

[Dogmatix]

35 minutes ago, ChouDoufu said:

so instead up putting $24K in the bank, they

want i should put $90K in....at 1% interest?

 

rather expensive opportunity which will only

save me three trips to immigration...maybe.

 

and what if...after 5 years, i decide to move on.

just how do you move cash out of thailand if

not earned here?

 

Generally they are decent enough to grandfather in anyone who has had back to back visas for a few years under the old rules.  When they increased the requirement for retirement extensions from B200k to B800k in the early 2000s they grandfathered in anyone who had had one for 3 or 5 years (I forget which) at the old rate of B200k.  That still applies today for those that are still alive. 

 

By the way it can't be long before they increase the financial hurdles again, since inflation has significantly eroded their value since the last time they were raised.  

[Dogmatix]

4 minutes ago, lkv said:

There is no Thai Visa that grants a permission of stay per entry longer than 12 months (O-A and Elite).

 

Hard to believe this one would.

 

So most likely it will have the functionality of a 5 year Thai Elite, meaning if you don't leave the country for 12 months you extend for another 12 months @1,900 baht.

 

Thai Elite for 20 years is 5 years x 4.

 

This one for 10 years is 5 years x 2

 

The same thing will happen with this visa because the Immigration Act does not permit visas of longer than 12 months, except for investment in BOI promoted companies, in which case 24 months is possible.  This thing will actually be very similar to Elite.  Since there has been no move to amend the Immigtation Act, it will have to be the right to renew a visa no less than annually for 5 years with pre-approval to do the same again for another 5 years after that, subject to certain conditions which will probably include showing that the 3 million is still there, payment of another fee and possibly the usual syphilis, elephantiasis, TB and alcoholism tests etc.  

[overherebc]

2 hours ago, aussienam said:

Does not make financial sense to do it.  Any savvy financial adviser would tell you that this is a bad idea.  No financial benefit for the expat when there are other options that are much better overseas. 

If they offered a significant interest incentive then you 'might' consider it.  But there is too much control over 'your' money.  It feels like your money is imprisoned.  Having to report so often already makes many expats feel they are unwelcome guests who are barely tolerated by the Thai government (from general conversations I have).  

And there are other countries with nice climates where you could use your 3 mil as deposit and 100k income to buy a property and stay in it or use it for income( taxed of course ) and you dont do 90 day reports etc.

[aussienam]

1 hour ago, Tofer said:

You could have saved the batteries on your calculator and simply declare an income of 100,000THB......  No deposit required! 

 

Of course I appreciate some are not able to show such an income, but those that can would benefit immensely from not having to visit immigration for 5 years, with all the associated time and hassle. Particularly as online reporting is now available. So I'm guessing this visa only appears ludicrous to those that cannot show an income in excess of 100k.

 

It's not mentioned, but I presume this would be a multi exit / entry visa, another benefit depending on the actual application cost of this visa, compared with the annual fee of 3,800/an for the same annual extension.

 

A further benefit is a sense of security of residence for 5 years.

 

Viewing it from this angle, what's not to like?

I suppose people will vote with their wallets.  Let's wait and see how many apply.  

 

Like anything there will be some like you who see merit and others like me who do not!  If I was a wealthy frequent traveller with loads of disposable income with Thailand as my base then I might consider it. 

 

If you think spending 100,000 Baht per year for convenience and less hassle then kudos to you! But for the masses like me I say no! Good luck with it.

[aussienam]

2 hours ago, SGD said:

 

 

Whilst I could agree with your thoughts on parking Bt1.5m permanently as a bad idea, had it been available for the under 50s, then it could have been viable, given the costs associated with renewing other visas for those under 50 years of age.

 

However, why would a country want to import people who don't have an income of Bt100k per month ? Would you want to import the poor ? The problem here is that whilst I agree you can exist on less than Bt100k a month, you are not adding that much to the economy. I make a big distinction here between those spending Bt95k a month and those trying to live on Bt15-20k a month.

 

The Bt65k a month has been around for decades and likely hasn't risen because the main FX rates again the THB have fallen significantly from when it was introduced. In 2004 for instance GBP was 75 and now it is 42, a fall of 44% !

Still not viable in my opinion for under 50's if that was the case based purely on a cost benefit analysis.  Visa renewal fees are not that exorbitant really for under 50's.  It's just the hassle of visa runs and applying for the various visa types if you can't jag a business visa.  

 

Ed visas options are expensive and a hassle if you incorporate the class fees though and 5 day a week attendance.  For people medically retired but under 50 (plenty of ex-service personnel fall into this category) we have to go play the visa games until 50 if we want to stay here. But we can still live a better quality of life than back in our home country IMO.  

 

 But many of us don't have generous pensions to live off that pay over 100k per month (although some countries are more generous than others and have better exchange rates).  Others didn't get a pension but are awarded a lump sum settlement that can amount to a considerable amount where a residual income is derived from - i.e. we are self funded and don't qualify for a pension because we exceed maximum assets.   

 

So the lump sum could well be quite a considerable amount that is invested in different ways to generate income.  To generate more than 100k net per month on passive income derived solely from a lump sum and other savings means that your investments are likely well over 50 Million Baht (unless you are really financially savvy - maybe a guru on the stock market etc) .  

 

So it is not that people coming to Thailand are necessarily  'poor', rather they are being careful with their money and investing it in places that build or maintain wealth outside Thailand because there is no bank in Thailand that is competitive enough to attract foreign investment.  Other investments here are fraught with risks.  I have bought my own condo so I made a considerable investment (yes I know - a stupid idea) but the government does not see this as included.  I pay fees, rates, bought a vehicle, I spend my income here but because I receive less than 100k Baht net per month I am poor?  There are different ways to contribute to the economy.  

 

And I am sure the number of retirees receiving less than 100k baht per month as a collective contribute a significant amount into their local economy.  Take them out of the equation and just include people receiving over 100k and I think it would be quite noticeable.  All these pesky poor pensioners and self funded retirees.  How dare we stay here!  Come on all you filthy poor pensioners, let's go somewhere else and let these elite 'plus 100k' retirees live with the Thai people who will appreciate them more.  

[Xobtsiwt]

To call this visa "much-awaited" does seem rather a stretch. Does anyone know anyone who has been waiting to deposit 3m Baht at risible interest rates for the pleasure of the same level of security that the O and O-A visas already extend to applicants for far less?

I struggle to see the point.

[Jonmarleesco]

11 hours ago, webfact said:

the new visa will come in two installments of five years each.

So it's a renewable five-year one.

[lkv]

31 minutes ago, Jonmarleesco said:

So it's a renewable five-year one.

Looking forward for them to clarify:

 

-what is the exact cost of this 5 year visa. 10K? And another 10K for the next one?

-the exact duration of each permission of stay.

-what happens after 10 years?

 

Edited August 16, 2017 by lkv

[Jonah Tenner]

10 hours ago, Destiny1990 said:

I doubt any people interested with this Visa deal. Its almost as if they think we are stupid.

Almost?

[Destiny1990]

How about a poll what to think about the 10 year visa?

[Jonah Tenner]

8 hours ago, impulse said:

 

Unless you've already taken the plunge, I'm not sure getting married here is less risky than any plan the government may come up with,.

True.

[ding]

3 hours ago, overherebc said:

And there are other countries with nice climates where you could use your 3 mil as deposit and 100k income to buy a property and stay in it or use it for income( taxed of course ) and you dont do 90 day reports etc.

We're considering ping ponging between Thailand and Cambodia every 6 to 12 months -now. Any further recommendations from the collective wisdom here?

[Old Croc]

I would like to avoid yearly extensions by switching to this 5 year deal, but I would never lodge 3 mill long term in a bank to get this visa. Although, unlike the Elite visa, the money does remain your own and can eventually be redeemed.  I hold over 2 mill here now to cover contingencies and for my self funded health insurance, but wouldn't like the idea of it being tied up with conditions.

 

On page 2 of this thread I asked the question, is an income of 100,000 pm, certified in the normal way,  sufficient to qualify for this visa. I haven't read anywhere that this money must be brought into Thailand, nor lodged in any particular place. Presumably it just has to exist and can be proven to exist. Obviously all, or a good part of it, would be imported anyway for normal living costs, so I don't understand why people are claiming this is lost money.

 

For me the biggest roadblock would be the requirement to buy health insurance and it's terms and costs. Clarity on that would be of great assistance.

 

[ding]

Old Croc; I wouldn't keep that much in a Thai bank either. It's cheaper to fly out for a vacation as funds are fungible with respect to lost income on that amount.

Forgive my ignorance but what currency is you 100,000 per month in? I didn't see your other post....

[scubascuba3]

Are there any visa boffins here that know the advantages over the 800k option?

[Old Croc]

3 minutes ago, ding said:

,Old Croc; I wouldn't keep that much in a Thai bank either. It's cheaper to fly out for a vacation as funds are fungible with respect to lost income on that amount.

Forgive my ignorance but what currency is you 100,000 per month in? I didn't see your other post....

Everybody's circumstances are different. 

For health reasons I'm unable to jump on planes for vacations or to return home for medical    treatments 

I hold money here for the reasons outlined, but do have more funds earning money elsewhere.  The 100,000 is a baht figure. They initially stated this amount meets the requirement for the new visa. I'm trying to confirm this is the case. My various pension funds (not OAP), where my income is generated, are in Australia.

[Old Croc]

3 minutes ago, scubascuba3 said:

Are there any visa boffins here that know the advantages over the 800k option?

After the initial application you avoid the yearly hoop jumping exercise.

[lkv]

1 hour ago, Old Croc said:

After the initial application you avoid the yearly hoop jumping exercise.

I don't think so. This is a 5 year multiple entry visa with a defined permission of stay per entry, most likely 12 months. Unless you exit Thailand, every 12 months you would have to visit your local Immigration to get an extension for 1,900 baht, either with no documents, in a similar way to Thai Elite, or perhaps proving the 3 million is still there or at least part of. Not too clear on that. Or maybe otherwise do a visa run if too much documentation is required for an extension.

For the people that travel at least once a year currently on an extension, it would save the cost of the reentry permit(s) (single or multiple).

As usual, reporting every 90 days. So that you never forget you are a guest. :)

 

Does anybody have any link actually of how this visa works?

Edited August 16, 2017 by lkv

[Elkski]

I don't see the attraction to this visa.  I'm not super educated on Visas but  I I was thinking the 800,000 for retirement visa would be the way I  I would go. It still seems best but as far as the health insurance coverage requirements on any visa  what if you  married to a  person who has government health insurance that covers you?  Seems there is no way they can say that isn't enough coverage.   That would be like saying our government worker health coverage stinks.   

Overall another example of the thai way of thinking and another stupid government solution. It is a reminder of what one has to endure if they do choose to retire here. 

[lkv]

33 minutes ago, Elkski said:

what if you  married to a  person who has government health insurance that covers you?  Seems there is no way they can say that isn't enough coverage.   That would be like saying our government worker health coverage stinks.   

Overall another example of the thai way of thinking and another stupid government solution. It is a reminder of what one has to endure if they do choose to retire here. 

That is for Thai not falang.

 

Falang is more prone to disease, i.e Leprosy, Tuberculosis, Elephantiasis, Drug addiction, Alcoholism, 3rd step of syphilis, all of which are required to be tested for a non OA application. However, since the nonOA application takes place outside of Thailand at your home embassy, this is a visa issued in Thailand apparently. The only other one issued locally would be the Elite visa.

 

Therefore, to prevent these terrible diseases, and also cater to wealthy falang's special needs, a separate insurance paid to a local Thai limited company is a must. ??

Edited August 16, 2017 by lkv

[ding]

12 minutes ago, lkv said:

That is for Thai not falang.

 

Falang is more prone to disease, i.e Leprosy, Tuberculosis, Elephantiasis, Drug addiction, Alcoholism, 3nd step of syphilis, all of which are required to be tested for a non OA application. However, since the nonOA application takes place outside of Thailand at your home embassy, this is a visa issued in Thailand apparently. The only other one issued locally would be the Elite visa.

 

Therefore, to prevent these terrible diseases, and also cater to wealthy falang's special needs, a separate insurance paid to a local Thai limited company is a must. ??

Did the tongue in that cheek hurt you to the point of requiring medical insurance?