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  1. #1
    Premium Member Gary & Nok's Avatar
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    Default New 10 Year Visa for Over 50's

    Looks like there might be a new visa for the over 50's.

    Good luck with the requirements though.
    Independence Day 31st January 2020

  2. #2

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    Applicants must either earn a monthly salary of at least 100,000 baht or have more than 3 million baht in their bank account, which cannot be withdrawn within the first year after receiving the visa. They must also have health insurance that covers hospital stays and provides at least USD$10,000 in annual coverage.

    Visa holders will still have to check in every 90 days with the Bureau of Immigration, Athisit said.


    I suppose if somebody is retiring they should have at least 60K in savings or they couldn't afford to retire. Why oh why you have to report every three months is beyond me and just another inconvenience.

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    April 1st

    Thats £72,000 at todays rates

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    Premium Member Gary & Nok's Avatar
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    Quote Originally Posted by steve187 View Post
    April 1st
    ?????
    Independence Day 31st January 2020

  5. #5
    Premium Member caller's Avatar
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    Default

    Still not clear if this replaces the current 1-year visa / extension, but some cold logic tells me it doesn't, otherwise I think they'd be an exodus!
    'Tis me

  6. #6
    Forum Regular สมาชิกประจำ Peejay1959's Avatar
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    Quote Originally Posted by caller View Post
    Still not clear if this replaces the current 1-year visa / extension, but some cold logic tells me it doesn't, otherwise I think they'd be an exodus!
    I sure hope not because that will hurt our plans

    Pete and Tia

  7. #7
    Veteran ผู้มีประสบการณ์ prikphet's Avatar
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    £72k in a Thai bank account
    If that was my money it would be in and out faster than Nana Girl doing short time with Mr Smelly of Smellsville.

  8. #8
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    I have a friend who is currently building a house in Thailand, and in the future wishes to retire there. Under the 1 year visa what does he need financially.
    I worry about him putting all his money into the house, and not thinking about the retirement fund.

  9. #9
    Admin maokaang's Avatar
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    Quote Originally Posted by leshemp View Post
    Under the 1 year visa what does he need financially.
    Either ...


    1. an income of 65,000 baht per month
    2. or 800,000 in the bank (for a minimum of 2 or 3 months prior to each extension application)
    3. or any combination of the above. e.g. 400,000 in the bank plus an income of 32,500 per month


    Quote Originally Posted by leshemp View Post
    I worry about him putting all his money into the house, and not thinking about the retirement fund.
    He should equally worry about legally protecting that investment as it will not be in his name.
    Last edited by maokaang; 26th Nov 2016 at 07:56.
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  10. #10
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    Really hope this is not true at least to replace the annual retirement extension, as I will have to go, along with at least 90% of my friends here. It would definitely be the piece of straw that broke this donkeys back, things are hard enough as it is with the awful exchange rate.

    Don't forget you can do your 90 days reporting online if you wish.

    Another point, I actually went through the process of obtaining a Thai ID card for myself after getting myself a yellow house book. It was a bit of a pain and cost a bit as we had to help the process along. Anyway as we were near Bang Phe I tried to get into the local National Park with my New Thai ID but was still asked for the "falang" price didn't bother paying as we were just sounding the place out for a potential camping trip if the weather cools down some.

  11. #11
    Premium Member caller's Avatar
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    From the Thai Govt.

    Emphasis on 'and wishes to change' is mine. I'll leave others to determine what this means. I have my view, but it seems many disagree. Generally, the Thai Govt. have woken up to the fact that increasing the cost of coming to Thailand, might actually deter visitors and as a consequence, they have just scrapped some recently introduced hikes on fees. They have also officially accepted that tourism numbers are down, mainly to shutting down of operation linked to Chinese tourists. At the moment, Hua Hin is pretty empty not helped by Bangkokians seemingly staying away at weekends.

    http://www.thaigov.go.th/index.php/e...vember-22-2016

    Title: Extension
    of period of stay for Long Stay Visa
    The Cabinet approved in principle on proposals made by Ministry of Public Health on the extension of period of stay in Thailand for Long Stay Visa. Ministry of Interior is ordered to issue or amend related laws to be in accordance with the Cabinet’s resolution.
    Gist of the matter
    Ministry of Public Health reported that
    1. At present, an increasing number of foreigners aged 50 and over have been travelling to Thailand for a long stay by obtaining Non-Immigrant Visa Category O-A (Long Stay). Ministry of Tourism and Sports also reported that in 2014, top 15 countries of which the citizens have been approved for a long stay in Thailand are: England, USA, Switzerland, Japan, France, Australia, Norway, China, Sweden, Netherlands, India, Italy, Canada and Taiwan. These are tourists with considerable potentials who prefer to stay in Thailand’s tourist destinations, such as Chiang Mai, Chiang Rai, Chonburi and other famous coastal provinces.
    2. Ministry of Public Health and Ministry of Tourism and Sports have reached an agreement, at the 5/2016 board meeting of Thailand Development and Promotion on Medical and Wellness Tourism, to extend period of stay for Long Stay Visa from 1 year to 10 years for foreigners from 14 countries as follows: Denmark, Norway, Netherlands, Sweden, France, Finland, Italy, Germany, Switzerland, Australia, USA, England, Japan and Canada. The requirements are as follows:

    1) Age requirement: Foreigner aged 50 or more who applies for Non-immigrant catergory O-A (Long Stay) from Thai Consulates in their countries or foreigner who travels to Thailand with other types of visa and wishes to change to a Long Stay Visa. Holder of this type of visa will be permitted to stay in Thailand for 5 years with multiple entry and granted for another 5-year extension with multiple entry.
    2) Visa fee: 10,000 Baht
    3) Financial requirement: Must have a bank deposit of at least 3 million baht or have a monthly salary of at least 100,000 Baht
    4) Health insurance coverage: Must have with them medical insurance policy of at least USD 1,000 for OPD and USD 10,000 or more for IPD per year
    5) Report to immigration: every 90 days to the immigration officer in his or her residence area
    6) Others: Spouse or registered partner of the applicant aged 50 or more can request for a Long Stay Visa by providing a seperate bank deposit in Thailand or have monthly salary. Spouse aged under 50 will be granted with Non-immigrant visa catergory O, and childern aged under 21 can enter the country for education with Non-immigrant visa catergory ED. The applicant can also purchase private vehicle or condominium in Thailand with foreign funds transferred to Thai bank account, as well as will be permitted to conduct volunteer work without pay.
    'Tis me

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    Hmmmm.......I'm not convinced Caller. You can read it different ways but I think your right about the exodus.........if it turns out they are replacing a 1 year visa with a 10 year, they will soon realise their cock-up when people start leaving. I doubt many people, no matter how well off, will want to have 3 million baht tied up in the bank.

    I am also struggling to understand why you need 3 million/100,000 for a 10 year visa but 800,000/65000 for a 1 year. Why would you need more to live on just because you are staying longer? Or.........could it be that (if the 1 year visa stays).......they will increase the requirement for shorter visas?

    Purchase a private vehicle or condominium? You can do that now.

    - - - - - - - u p d a t e d - - - - - - -

    Quote Originally Posted by rasg View Post
    I suppose if somebody is retiring they should have at least 60K in savings or they couldn't afford to retire.
    But its not a lot of good to you if its stuck in the bank is it? So at least 60k of the money you saved for a comfortable retirement cannot be spent on enjoying same.

  13. #13
    Forum Regular สมาชิกประจำ Big AL's Avatar
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    Is there any protection against a Thai bank going bust? (A bank going bust is not out of the question these days.)

    Can you have the money spread across a number of banks (to spread the risk)?

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