Govt approves ten year visas for wealthy over-50s

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Re: Govt approves ten year visas for wealthy over-50s

Post by caller » Wed Nov 23, 2016 11:08 am

Worth remembering that a lot of expats may have health conditions that prohibits health insurance, which is what the spare 3m baht might be used for. Perhaps they need to amend that rule to something like, 'or can demonstrate saving's in Thailand of x'.

I'm struggling to understand the logic of the 3m being tied up for one year. What does that actually achieve and what happens for the other 4? Assuming it has to be back there for stage 2 of the visa?

Another issue is whether they will change the rules about income, at the moment it's pension only, but what of other income the applicant might have? And bearing in mind the changes that are taking place to many pension schemes, the rules for this visa may well be harder to achieve in future.

Seems like a dogs dinner to me.
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Re: Govt approves ten year visas for wealthy over-50s

Post by lomuamart » Wed Nov 23, 2016 1:15 pm

I must admit that I havn't kept up-to-date regarding the ever changing regulations regarding getting an O or OA visa around the world but from talking to people in the UK it seems as though the income requirement needs to be in the form of a pension and a government one at that.
I thought that the UK state pension didn't kick in until you're 67? And it isn't exactly generous anyway.
So, why can we get a retirement extension within Thailand when we're 50 and the income be derived from pretty much any source?
It just dosn't make sense, visa wise, unless some major change is on the way regarding extension regulations or that the authorities are simply pissed off with the lax way Thai embassies and consulates have dealt with visa applications in the past.
Mind you, this country has never excelled at being consistent and I'll refer to my original post and say again that this proposed "medical" visa will probably not affect us who live here long term one iota. It's just something "new and extra", not a change to existing regulations.
But who am I to know?

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Re: Govt approves ten year visas for wealthy over-50s

Post by migrant » Wed Nov 23, 2016 2:48 pm

lomuamart wrote:I must admit that I havn't kept up-to-date regarding the ever changing regulations regarding getting an O or OA visa around the world but from talking to people in the UK it seems as though the income requirement needs to be in the form of a pension and a government one at that.
I thought that the UK state pension didn't kick in until you're 67? And it isn't exactly generous anyway.
So, why can we get a retirement extension within Thailand when we're 50 and the income be derived from pretty much any source?
It just dosn't make sense, visa wise, unless some major change is on the way regarding extension regulations or that the authorities are simply pissed off with the lax way Thai embassies and consulates have dealt with visa applications in the past.
Mind you, this country has never excelled at being consistent and I'll refer to my original post and say again that this proposed "medical" visa will probably not affect us who live here long term one iota. It's just something "new and extra", not a change to existing regulations.
But who am I to know?
On the income statement from the USA embassy it states "I receive US$_____ every month from the US Government and/or other sources. "

It doesn't state that it has to be in the way of a pension. At the US embassy you fill out the form, sign your name, and that is it, no bank statements, etc. :cheers:
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Re: Govt approves ten year visas for wealthy over-50s

Post by handdrummer » Wed Nov 23, 2016 4:40 pm

make sense, in Thailand? that's very high on the laughometer.

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10 Year Visa

Post by StevePIraq » Wed Nov 23, 2016 5:01 pm

http://www.bangkokpost.com/business/tou ... r-tourists

The cabinet on Tuesday extended to 10 years from one the long-stay visa for foreigners aged 50 or more but they must report to immigration police every 90 days.
The visa will be valid initially for five years and could be renewed for another five, Col Apisit Chaiyanuwat, vice minister at the Prime Minister's Office, said. The visa fee was set at 10,000 baht, he added.

Apart from the age requirement, the visa requires eligible foreigners to have a monthly income of at least 100,000 baht or a bank deposit of at least 3 million baht, to be maintained for at least one year after receiving the visa. Besides, they must have health insurance coverage for at least US1,000 for outpatient care and US$10,000 or more for inpatient care per policy per year. They will also be required to report to immigration police every 90 days.

The revised rule aimed to promote medical and wellness tourism in line with the government's policy.

The target groups for the visa are long-stay visitors from Australia, Canada, China, England, France, Germany, India, Italy, Japan, Norway, Sweden, Switzerland, the Netherlands, Taiwan and the United States,Col Apisit said

The visitors usually stay in tourist provinces like Chiang Mai, Chiang Rai, Chon Buri and other famous seaside provinces, he said.

Also on Tuesday, the cabinet resolved to temporarily waive for three months the 1,000-baht visa fee and to halve the 2,000-baht visa-upon-arrival fee for tourists from 19 countries from Dec 1 to Feb 28...
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Re: 10 Year Visa

Post by StevePIraq » Wed Nov 23, 2016 5:05 pm

I am not sure if this means that those of us on a retirement visa can now get a 10 years visa or not. Subject of course to meeting the cash and insurance requirements. Mine is up for renewal is less than a month so I would be very interested to know. 68k Sterling or 84k USD.
Or can we still stay on a one year visa?
Or can we no longer get a one year visa?
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Re: Govt approves ten year visas for wealthy over-50s

Post by lomuamart » Wed Nov 23, 2016 7:51 pm

I've said it before but I bet that this is just some hastily thought up replacement for the elite card.
Those of us who want to extend annually will probably be able to.
Those who don't like going to Imm every year - well sink some money into here and you won't have to.
But to all you foreigners out there - you'd better report every 90 days.
However, I don't know.

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Re: Govt approves ten year visas for wealthy over-50s

Post by Nereus » Wed Nov 23, 2016 8:24 pm

lomuamart wrote:I've said it before but I bet that this is just some hastily thought up replacement for the elite card.
The Elite Card is already 5 years. The only Visa the MFA refer to at the moment as "long stay", is the O-A Visa. I think it is this Visa that is going to be changed. Just my 2 Bahts worth coupled with over 25 years of reading their interpretation to English.

http://www.mfa.go.th/main/en/services/4 ... Stay).html
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Re: Govt approves ten year visas for wealthy over-50s

Post by centermid7 » Wed Nov 23, 2016 10:30 pm

I don't want your ten year . . . . .

I'm just fine with a one year renewal of my extension of stay. The 90 day reports is kinda goofy but who is surprised about that? Mostly it's an hour long (max) visit to my local Immi center every three months and Bob's my uncle. I have an appt with my embassy this coming Monday to get my statement of income. My extension is due a couple of weeks after that. I have no money in any bank in Thailand nor do I expect to every have any.

I wonder what is going come of that? I'll let you know.

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Re: Govt approves ten year visas for wealthy over-50s

Post by StevePIraq » Thu Nov 24, 2016 9:04 am

So at the moment no one knows for sure if this really does replace the existing one year visa or not, or even when this may be implemented.
Forgetting the 3m deposit the medical insurance may be the biggest hurdle. Most insurers will not insure the elderly and if you have pre existing conditions the cost is horrendous or they are excluded.
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Re: Govt approves ten year visas for wealthy over-50s

Post by buksida » Thu Nov 24, 2016 12:53 pm

THAILAND’S NEW 10-YEAR VISAS MEET MIXED REACTIONS
Expats have expressed enthusiasm about the approval of a plan to issue 10-year visas but worry they may be of benefit to few as more details about how they would work have came to light Thursday.

Since the cabinet approved Tuesday a plan to offer 10-year visas to foreign nationals over 50, a number of have expats welcomed the news but said they were concerned about their accessibility, health insurance requirements and unaddressed shortcomings of other visa offerings.

“Right now, this visa seems like a very good thing, even though we need to wait to find out all the details and rules about it,” said 68-year-old Geoffrey Carter, who’s lived in the kingdom 24 years.

As announced Tuesday, foreign nationals 50 and up would be eligible for 10-year visas, provided they earned at least 100,000 baht per month or had 3 million baht in the bank. They must also hold a certain level of health insurance.

Carter, who once led a Rotary Club chapter in the capital, said he personally was in a position to be okay with the financial requirements.

“I don’t have any problem with putting 3 million into a time deposit,” he said.

What concerns him is the requirement that one must have health insurance covering hospital stays and annual coverage worth at least USD$10,000.

“I’m not sure about the compulsory medical insurance, though,” Carter said. “Never encountered a rule like this before.”

Many insurance companies do not cover at the required level, he added.

Less positive is Jim Kelly, a Scotsman who’s lived in the kingdom 54 years. He said the terms are unacceptable.

“I don’t know anyone who would be willing to put 3 million baht in a Thai account and leave it there,” the 77-year-old resident of Hua Hin wrote in reply. “I have no intention in buying health insurance, which I consider to be a swindle.”

Should the new visa replace the existing retirement visa program, he predicts a “mass exodus of foreigners from Thailand.”

More: http://www.khaosodenglish.com/news/busi ... reactions/
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Re: Govt approves ten year visas for wealthy over-50s

Post by StevePIraq » Thu Nov 24, 2016 1:17 pm

Further extracts from the Khaosad article follow, no formal plan to implement it

After approving the plan, the cabinet sent it for implementation to the Ministry of Interior Affairs.
Unfortunately that’s where the trail goes cold, for now.
Permanent Secretary of the Interior Kritsada Boonrat said Thursday he had no idea when it would come into effect.
An official in the visa and travel division of the Foreign Affairs Ministry said she did not know anything either.
“The announcement didn’t include the date of when this will be implemented, so we will have to wait for them,” she said.
There seemed no clear answers as to whether the visa would be a new offering or replace existing retirement visas.
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Re: Govt approves ten year visas for wealthy over-50s

Post by Big Boy » Thu Nov 24, 2016 2:01 pm

WTF!!! :shock:
Applicants must not only leave 3 million baht untouched for one year in a time deposit, but they cannot withdraw more than 50 percent, which they must show proof was spent in Thailand for such as medical, property, tuition or similar expenses, according to the resolution. Want to renew it five years later? Visa holders must again show 3 million baht in the bank or an income of at least 100,000 baht per month.
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Re: Govt approves ten year visas for wealthy over-50s

Post by STEVE G » Thu Nov 24, 2016 2:08 pm

If you have to meet all the requirements again after five years, it's a five year visa and not a ten year in my opinion. I think I'll just keep working!

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Re: Govt approves ten year visas for wealthy over-50s

Post by StevePIraq » Thu Nov 24, 2016 2:21 pm

If you read the last article link and my last post it is not going to happen. Just ignore it and carry on regardless.
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