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/

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[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.

[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.