New 10 year retirement visa approved

[travelerjim]

The Prime Minister has approved the issue of the 10 year's Multiple Entry (retirement) Visa for citizens over age 50 of 15 Nations with requirements...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 periodshttps://www.thaivisa.com/forum/topic/98 ... -over-50s/

[cdnmatt]

10,000 baht for a 10 year VISA? That sounds like a fuck of a deal to me, and I only wish I was 50. I'm stuck paying 500,000 baht for a 5 year VISA.

[frequent]

This sounds suspiciously like Malaysia's MM2H ("Malaysia My 2nd Home") Visa. I wonder what the insurance premiums are going to be for (say) a 70-year old seeking health insurance; such insurance is usually unobtainable or prohibitively expensive, so much so that MM2H grants an exemption for it to those who apply and show they cannot get such insurance

[Smiles]

I must be missing something here. Please correct me if you can.

I have lived in Thailand on an original Non-Imm 'O' ("Retirement") visa which, after a full year, expired, but I keep on keeping on as everyone else does ... they go to Thai Immigration on or about their expiry date and receive a 12-month extension to stay in Thailand. What could be more simple than that?
Therefore I in fact already have what amounts to a 10+-year stay as long as I don't die, need to go 'home' for medical reasons (especially blindness), or end up in the Bangkok Hilton for raping a few Thai Bad Boys.
So who needs a million+baht in some bloody bank in order to bother with a special 10+ year visa when one already has one in actuality ... as I have since 2007.

[frequent]

I must be missing something here. Please correct me if you can.
So who needs a million+baht in some bloody bank in order to bother with a special 10+ year visa when one already has one in actuality ... as I have since 2007.travelerjim has fallen for the same simple error that so many others have. It is not a visa for the purpose of retirement and none of the official announcements describe it as such. It's a visa to "promote Thailand as a medical and wellness hub". There are some similarities to the so-called "retirement" visa, in particular the applicant must be at least 50 years old and may not work in Thailand while holding the visa. The emphasis on "medical and wellness" is also the clue as to why this visa alone requires health insurance

Having said all of that, what 50+ year old would want to visit Thailand for 5 or 10 years on "medical and wellness" grounds is a mystery. Presumably there's some plan to cash in on the latest nonsense of self-indulgent Westerners, the "spa", which in Thailand has little in common with its European origins, in particular bathing in natural hot springs. Then why would such a person need health insurance and - worst of all - want to leave 3 million baht in a bank account at 1% interest is another mystery. If you've got that sort of money lying around why not just spend a million baht and get a 20-year visa from Thailand Elite
10,000 baht for a 10 year VISA? That sounds like a fuck of a deal to me, and I only wish I was 50. I'm stuck paying 500,000 baht for a 5 year VISA.Stop whining. And by the way as I've already pointed out if you're thinking of spending 500,000 baht each for the two of you to get a five-year visa, why don't you spend the whole million on yourself and get a 20-year visa

[cdnmatt]

I would imagine it's also meant to give peace of mind. Get a 10 year VISA, and don't worry about immigration law and VISA regulations changing on a yearly basis.

[Smiles]

" ... Get a 10 year VISA, and don't worry about immigration law and VISA regulations changing on a yearly basis ... "
As mentioned above I've lived in Thailand for 10 years now on a Non-Imm O-A Retirement Visa and annual extensions. The rules for both the original Visa and then the annual extensions have not changed in 10 years, and they have been those same rules before I came here as well.
And I feel a great deal of peace of mind.

Visa rules for tourists and have changed somewhat over the years, but the changes have not been onerous. Visa rules for Border-Runners have been changed the most.

[justaguy]

I must be missing something here. Please correct me if you can.

I have lived in Thailand on an original Non-Imm 'O' ("Retirement") visa which, after a full year, expired, but I keep on keeping on as everyone else does ... they go to Thai Immigration on or about their expiry date and receive a 12-month extension to stay in Thailand. What could be more simple than that?
Therefore I in fact already have what amounts to a 10+-year stay as long as I don't die, need to go 'home' for medical reasons (especially blindness), or end up in the Bangkok Hilton for raping a few Thai Bad Boys.
So who needs a million+baht in some bloody bank in order to bother with a special 10+ year visa when one already has one in actuality ... as I have since 2007.

This visa saves you from doing a yearly extension, instead one needs to extend twice I presume, the first for five years, and after that another one for five years. So it saves money. 2x1900 baht against 10x1900 baht. If one also wants to leave Thailand from time to time, it represent another cost saving, as instead of 10x3800 for a mulitple re-entry permit, you now only need two .

That you might not need to leave Thailand is fine, so this visa is not targetted at you. Whilst I am quite some time before even being allowed to apply (not 50 yet). I would prefer this one over the existing scheme, as it certainly saves money and quite a bit at that. The fee is 10.000 against 3800, but you save in extensions and re-entry permits.

The financial requirements aren't all that shocking to be honest.

[francois]

10,000 baht for a 10 year VISA? That sounds like a fuck of a deal to me, and I only wish I was 50. I'm stuck paying 500,000 baht for a 5 year VISA.

Guess anyone that is over 60 wishes they were 50. :mocking_mini:

[2lz2p]

travelerjim has fallen for the same simple error that so many others have. It is not a visa for the purpose of retirement and none of the official announcements describe it as such. It's a visa to "promote Thailand as a medical and wellness hub". There are some similarities to the so-called "retirement" visa, in particular the applicant must be at least 50 years old and may not work in Thailand while holding the visa. The emphasis on "medical and wellness" is also the clue as to why this visa alone requires health insurance



Let's see if I've got this right - reason for 10 yr (5yr+5yr) is for medical and wellness treatment, BUT you have to have Thai health insurance. Chances are if you need to come to Thailand for medical reasons, you most likely have "per-existing" conditions that Thai health insurance companies will not cover. So, appears to defeat the purpose.:eek:

[frequent]

This visa saves you from doing a yearly extension, instead one needs to extend twice I presume, the first for five years, and after that another one for five years. So it saves money. 2x1900 baht against 10x1900 baht. If one also wants to leave Thailand from time to time, it represent another cost saving, as instead of 10x3800 for a mulitple re-entry permit, you now only need two.Any thoughts on the opportunity cost of leaving 3 million baht in the bank for 10 years at 1% interest?

[francois]

3,000,000 x 1% x 10 years = 300,000.

[Moses]

3,000,000 x 1% x 10 years = 300,000.

wrong :)

3313866.37 1% yearly if interest is calculating monthly

[frequent]

3,000,000 x 1% x 10 years = 300,000
wrong :)

3313866.37 1% yearly if interest is calculating monthlyEither way it's chump change (http://www.urbandictionary.com/define.php?term=chump%20change) over a 10-year period. You wouldn't bother to get out of bed for that sort of money if it was a wage

[justaguy]

Any thoughts on the opportunity cost of leaving 3 million baht in the bank for 10 years at 1% interest?

Actually you do NOT have to leave that money in the bank for ten years AND you can go the monthly income route, 100.000 baht is all you need to show.

The money has to stay in a bank account for only one year, and presumably has to return by the time the second extension is due.

Not sure about the calculations above, but leaving that money in a bank earns you interest, gambling that money to get a higher interest rate might work, but not at a rate as say 10 years ago. In any case, that money doesn't have to be left earning just 1% interest for 10 years. Pretty certain this option is cost and hassle saving.

[arsenal]

Can you get a refund if your dream of living in Thailand becomes a nightmare and you turn into a bitter, twisted and spiteful old queen with nothing to do except write vitriol all day?

[frequent]

Actually you do NOT have to leave that money in the bank for ten years AND you can go the monthly income route, 100.000 baht is all you need to show.

The money has to stay in a bank account for only one year, and presumably has to return by the time the second extension is due.Do try not to mislead the ordinary punter. The money has to stay in the bank for the first year and thereafter up to 50% can be withdrawn for an approved purpose. The entire 3 million must be there to renew for the next 5-year extension. The statement "100,000 baht is all you need to show" is a straight out lie. The regulations state "or a combination of 1.8 million baht in the bank and income not less than 1.2 million baht. That's 100,000 a month plus 1.8 million in the bank

Do try to pay attention and not be a total twat

[Nirish guy]

More importantly if you DIDNT have that sort of money in the bank when deciding to retire to another country I think you'd have bigger problems ahead that worrying about which visa to select perhaps !

[justaguy]

Do try not to mislead the ordinary punter. The money has to stay in the bank for the first year and thereafter up to 50% can be withdrawn for an approved purpose. The entire 3 million must be there to renew for the next 5-year extension. The statement "100,000 baht is all you need to show" is a straight out lie. The regulations state "or a combination of 1.8 million baht in the bank and income not less than 1.2 million baht. That's 100,000 a month plus 1.8 million in the bank

Do try to pay attention and not be a total twat
Manners old man. Apparently either your parents did a piss poor job in teaching you manners about 100 years ago, or you just can't help yourself. You have no idea what a twat is, so don't use the term..

futhermore, when this was announced there was no mention of a combination of income and money in the bank:

Applicants must either earn a monthly salary of at least 100,000 baht or have more than 3 million baht in their bank account,

so I was just repeating what was published in october last year, when this was announced. That they now have made a change is not my fault. the only thing I'm guilty off is not reading the op to find out they have changed those requirements.

In any case, as Nirish Guy was trying to point out, if you intend on living in a foreign country, you better have some cash to support yourself. After all, even 1.8 million baht (or half of that after one year) isn't exactly a lot of money. Neither are the cost of having to leave that in a bank account.

Oh and before you start nitpicking about the 100.000 not being a monthly income, of course I was referring to a monthly income, after all, the current regime also states a monthly income of 65.000 baht, so assumed that was obvious, even to old geezers without any manners.

[frequent]

You have no idea what a twat is, so don't use the term.I know exactly what a twat is, because the Urban Dictionary is my constant companion, It's a mildly more polite word than "cunt"; alternatively it means a person regarded as stupid or obnoxious. You amply qualify under both meanings
That they now have made a change is not my faultHeavens no, don't take personal responsibility for not keeping up to date and repeating old information as if it's relevant, especially as the OP had actually stated the requirement a few posts earlier than yours. As I say - you're a complete twat

[justaguy]

I know exactly what a twat is, because the Urban Dictionary is my constant companion, It's a mildly more polite word than "cunt"; alternatively it means a person regarded as stupid or obnoxious. You amply qualify under both meaningsHeavens no, don't take personal responsibility for not keeping up to date and repeating old information as if it's relevant, especially as the OP had actually stated the requirement a few posts earlier than yours. As I say - you're a complete twat

Nope I am not. The only twat on here is you. Childish, no manners and utterly stupid. Wise people don't go and try to offend people for no good reason.

Wisdom comes with age or so they say, you seem to be a solid exception to that rule. Of course you being obnoxious kind of is extremely funny, it shows your utter stupidity for all to see, thanks for the lesson grandpa, keep your diaper on.

[frequent]

More importantly if you DIDNT have that sort of money in the bank when deciding to retire to another country I think you'd have bigger problems ahead that worrying about which visa to select perhaps !Oddly enough Thailand seems to be full of punters who live there on nothing more than their State pension from places like the UK, the US and Australia without your "bigger problems". They do so in the (perhaps mistaken) impression that Thailand is a cheaper place to live. At the end of their lives they have the choice between the balcony - very popular by all accounts - the condo swimming pool or - my personal favourite - nembutal (https://www.drugs.com/mtm/nembutal.html)

[frequent]

Wisdom comes with age or so they say, you seem to be a solid exception to that rule.Absolutely you young fool. As for "no good reason" (1) you're young (2) you're dumb (3) you're full of yourself (4) as we know from your posts about hotels who wouldn't accept you and your catamite you're self-righteous. I could go on but I've better things to do (until next time)

[justaguy]

Absolutely you young fool. As for "no good reason" (1) you're young (2) you're dumb (3) you're full of yourself (4) as we know from your posts about hotels who wouldn't accept you and your catamite you're self-righteous. I could go on but I've better things to do (until next time)

Ah, not wanting to be labelled a whore monger without valid reason constitutes as being self righteous now. That silly remark alone quite clearly proves exactly what kind of person I am dealing with here. I doubt you really have better things to do, but hey continue to call others stupid, it might make you feel better.

Now go on and pounder about the massive interest loss you would have to endure on the measly sum the Thai want you to show for this 10 year visa.

[frequent]

Now go on and pounder about the massive interest loss you would have to endure on the measly sum the Thai want you to show for this 10 year visa.I'm guessing you mean "ponder", "pounder" is a slang expression for masturbator
Ah, not wanting to be labelled a whore monger without valid reason constitutes as being self righteous nowSince you're so keen to label my parents as failures, may I congratulate your parents on their success in raising a self-righteous twat

[justaguy]

I'm guessing you mean "ponder", "pounder" is a slang expression for masturbatorSince you're so keen to label my parents as failures, may I congratulate your parents on their success in raising a self-righteous twat

Nah, I'm only a self righteous twat because your limited mind thinks so. Again, if you can't be civil, why are you even trying to communicate. Utterly useless.

No wonder you have to pay to get sex, it's not the age, it's your shitty attitude.

[frequent]

Again, if you can't be civil ...

thanks for the lesson grandpa, keep your diaper onPot, kettle? Applying one standard to others and a different one to yourself is known as "hypocrisy"

As you can see my title is no longer "Senior Member" but "Whoremonger", the word you throw around that covers a substantial proportion of the members here, all of whom you clearly hold in contempt by your use of such a pejorative term

[justaguy]

Pot, kettle? Applying one standard to others and a different one to yourself is known as "hypocrisy"

As you can see my title is no longer "Senior Member" but "Whoremonger", the word you throw around that covers a substantial proportion of the members here, all of whom you clearly hold in contempt by your use of such a pejorative term

Nah just the whoremongers who can't be civil. As to the hypocrisy, I firmly believe in action and reaction. Especially at repeat offenders.

[frequent]

Nah just the whoremongers who can't be civil. As to the hypocrisy, I firmly believe in action and reaction. Especially at repeat offenders.Just as I expected - hypocrisy justified by self-righteousness

[justaguy]

Just as I expected - hypocrisy justified by self-righteousness

As usual you got it wrong. How someone could possibly expect people to be civil to them, when they themselves show no signs of it themselves is beyond comprehension.

Now this exchange of insults has gone on long enough, I am out. As usual in your case, the youngest is indeed the wise one...