Plan to approve 10 year visas for over 50s - read fine print

[MM 6,562]

http://www.khaosodenglish.com/news/business/2016/11/22/govt-approves-10-year-visas-foreigners-50/

BANGKOK — Affluent foreign residents over 50 will soon be able to apply for 10-year visas, a government spokesman said Tuesday.

Intended to promote Thailand as a hub for medical services, the policy was approved by the interim cabinet on Tuesday, according to spokesman Athisit Chainuwat.

It would replace one-year renewable visas and come in two installments of five years each, Athisit said. It was not immediately clear when the plan would be implemented.

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earn a monthly salary of at least 100,000 baht or have more than 3 million baht in their bank account, which cannot be withdrawn within the first year after receiving the visa.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.
Applicants for the visa are expected to be foreigners who live in provinces such as Chiang Rai, Chiang Mai and Chonburi, the spokesman added.

I'm not sure how they can call it a 10 year visa when it's described as two 5 year visas.

Anyway, if you have the income or money in the bank, plus health insurance, this would save you a bit of hassle, but I can't see it being that much more convenient. My last yearly extension was done in a morning session, and I didn't have to tie up 3M baht for a year.

 

What do you guys think?

[atlas2 4,329]

Sounds 'Gold Card'ish'

 

A friend has one and he gets all sorts of discounts and has similar visa privileges to the ones you describe.

[MM 6,562]

Sounds 'Gold Card'ish'

 

A friend has one and he gets all sorts of discounts and has similar visa privileges to the ones you describe.

I think you're referring to one of those Elite visas which cost an arm and a leg to get all those discounts. This visa, as described, allows you to keep your money, but you just can't use it (if you go with the bank account approach).

 

There's nothing in the above description that says you get any privileges beyond not having to renew until the 5th year...no limos from the airport, free or discounted green fees, special access to immigration lines, etc, that come with the Elite visa.

[Bullfrog 2,224]

1. You still have to check in every 90 days?

 

2. Quite honestly, everybody should have some sort of Health Insurance here anyway.

 

3. What about multiple / single entry visas...can you get 2 x 5 year multiple entry visas..??

 

4. Having hoofed my way down to Nackon Sawan many many times I see it as more of an aid to cut queus rather than to aid the farang.....

 

5. Before Kap Choeng(Surin) had an international border then yep it would have been useful.....

[js007 795]

If it "replaces" the current one year visa extension, that means there will be no more one year extensions for retirement? And that would mean an increase in the financial requirements. Then again, maybe I'm reading this too strictly.

 

In any event, I should probably apply for one, when they're available. I can meet the 100,000 baht per month requirement, and I suppose I could put three million baht in the bank. Hopefully, the income would suffice. Anyway, I like the renewable five year aspect. A bit less of a hassle.

Edited November 22, 2016 by js007

[izzyg 37]

How do you prove the monthly income? State pension may be easy to prove, but income from investments not that easy.

[MM 6,562]

 

 

1.

 

2. Quite honestly, everybody should have some sort of Health Insurance here anyway.

 

 

It's not that easy. I have to be self-insured and any insurance at my age would be prohibitively expensive or simply not available.

 

Sent from my SM-G935F using Tapatalk

[js007 795]

How do you prove the monthly income? State pension may be easy to prove, but income from investments not that easy.

 

 

People from the USA can get a letter from their embassy simply by going to the embassy and paying a fee. There's a form to fill out. You just fill it out however you want and "swear and affirm" that the information contained therein is correct. They don't ask you to prove anything. I've always had backup documentation in case the Thai immigration wanted to see it, but they've never asked.

[js007 795]

It's not that easy. I have to be self-insured and any insurance at my age would be prohibitively expensive or simply not available.

 

Sent from my SM-G935F using Tapatalk

 

I've never shopped for health insurance in Thailand. Is it simply a case of being uninsurable once you reach a certain age? Maybe you should investigate some of the US Medicare HMO type plans. Those are an alternative to Medicare and you can select such an option each year during open season. They have to provide coverage at least as extensive as the coverage provided by Medicare, but some offer additional coverage to entice people to join. I think I've seen where some may offer coverage outside the US. I haven't really looked into it, though, as my current plan will cover me anywhere in the world.

[MM 6,562]

 

I've never shopped for health insurance in Thailand. Is it simply a case of being uninsurable once you reach a certain age? Maybe you should investigate some of the US Medicare HMO type plans. Those are an alternative to Medicare and you can select such an option each year during open season. They have to provide coverage at least as extensive as the coverage provided by Medicare, but some offer additional coverage to entice people to join. I think I've seen where some may offer coverage outside the US. I haven't really looked into it, though, as my current plan will cover me anywhere in the world.

No coverage outside USA, which naturally includes Thailand.

 

Sent from my SM-G935F using Tapatalk

[Bullfrog 2,224]

It's not that easy. I have to be self-insured and any insurance at my age would be prohibitively expensive or simply not available.

 

Sent from my SM-G935F using Tapatalk

 

I have health insurance and am 60. This covers me until I die and have pre existing Weight and Blood Pressure problems and the policy definately meets the proposed limit above. now 40,000 a year but will go up in 5 year stages.

 

The alternative is paying cash in local hospitals....and I have been into some really, really nasty crowded local hospitals here...(Here meaning Thailand not Pattaya)

 

But my route to this particular policy wasn't a standard one..

 

1. I started with BUPA around 20 years ago here but they refused to pay for a minor operation around '97ish in Bumrungrad so I quit the policy.

2. Sometime (maybe years) later I took the Thai Visa option but then I started to look further into the future beyond 55 and didn't like what I saw .....

3. Whilst living ooop North I took out a Thai style Insurance to replace Thai Visa but it was more about Death Benefit than Health Insurance.

4. When I was 55 I looked at what else was available and was quite surprised to see that the availability of insurances had improved but I chose to change my existing Thai policy into a decent Health Insurance (because they couldn't refuse!!) that will see me through til death...

[jacko 8,578]

1. You still have to check in every 90 days?

 

2. Quite honestly, everybody should have some sort of Health Insurance here anyway.

 

3. What about multiple / single entry visas...can you get 2 x 5 year multiple entry visas..??

 

4. Having hoofed my way down to Nackon Sawan many many times I see it as more of an aid to cut queus rather than to aid the farang.....

 

5. Before Kap Choeng(Surin) had an international border then yep it would have been useful.....

1) Yes, you will still need to do 90 day reports, it is a police, rather than immigration requirement.

 

2) I do have health insurance, but, as you get older, it gets harder.

 

3) Didn't say anything about re-entry permits on the item I read, although with the Elite Visa no re-entry permits are required so I would hope this idea would be similar,ie, a multiple entry. Depends on whether it is an extension to an existing visa, or a visa in its own right. It does say replaces one-year renewable visas.

 

4) My current renewal date is right in the middle of peak season and yes I know I could do it a month early, but always drag my heels. So when I do my extension it is always heaving in Jomtiem and the job aggravates the hell out of me. 3 million is a whack to tie up for a while but I most certainly am tempted by this.

Edited November 23, 2016 by jacko

[jacko 8,578]

If it "replaces" the current one year visa extension, that means there will be no more one year extensions for retirement? And that would mean an increase in the financial requirements. Then again, maybe I'm reading this too strictly.

 

In any event, I should probably apply for one, when they're available. I can meet the 100,000 baht per month requirement, and I suppose I could put three million baht in the bank. Hopefully, the income would suffice. Anyway, I like the renewable five year aspect. A bit less of a hassle.

No mention of it replacing the current system, so I prefer not to be scaremongering on this.

Would be interested to know if there is any underlying aim in this idea.... supplement the banks deposits, get everyone on medical insurance, reduce the total number of 1 year extensions (with a view to eliminating them....don't do that jacko!).

[jacko 8,578]

How do you prove the monthly income? State pension may be easy to prove, but income from investments not that easy.

Past proofs of income were never too difficult, don't the USA and Australian guys simply pay their consulates for a letter for which they make no actual checks?

[MM 6,562]

No mention of it replacing the current system, so I prefer not to be scaremongering on this.

 

The article quoted does say

 

 

It would replace one-year renewable visas and come in two installments of five years each, Athisit said. It was not immediately clear when the plan would be implemented.

but that could just be a journalistic glitch. Many would hope so. I think I'd prefer sticking with the 1 year extension.

 

As atlas2 once said (something like) he doesn't buy green bananas at his age.

[jacko 8,578]

The article quoted does say

but that could just be a journalistic glitch. Many would hope so. I think I'd prefer sticking with the 1 year extension.

 

As atlas2 once said (something like) he doesn't buy green bananas at his age.

Yes, had they said 'Extensions' there would have been little doubt. This page

makes me worry as it calls the marriage and retirement extensions 'One Year Renewable Visas'.....

[nkped 1,207]

Past proofs of income were never too difficult, don't the USA and Australian guys simply pay their consulates for a letter for which they make no actual checks?

For the US, the only thing the embassy is doing is notarizing your sworn statement that you have the income you specify.

[nkped 1,207]

The article quoted does say

 

but that could just be a journalistic glitch. Many would hope so. I think I'd prefer sticking with the 1 year extension.

 

As atlas2 once said (something like) he doesn't buy green bananas at his age.

I wouldn't expect news stories about immigration law in Thailand to be any more accurate than similar stories in the US.

[jacko 8,578]

According to this, it does say it will be multiple Visa.

Application fee will be 10,000 baht.

Edited November 24, 2016 by jacko

[Bazle 1,357]

According to this, it does say it will be multiple Visa.

Application fee will be 10,000 baht.

 

Per that link (my highlighting):

 

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

 

[nkped 1,207]

100K Baht a month hardly makes one wealthy. I have the good luck that my employer subsidized health insurance continued into retirement. Now I will have to muck around the Blue Cross web site to see how I prove the level of insurance coverage.

[js007 795]

100K Baht a month hardly makes one wealthy. I have the good luck that my employer subsidized health insurance continued into retirement. Now I will have to muck around the Blue Cross web site to see how I prove the level of insurance coverage.

 

If you poke around, you'll find that for Blue Cross, there's a benefit "co-ordinator" for each country. They have a toll free number, and you can download a file showing preferred providers and so on. Maybe you could print out a statement of what's covered? Or, maybe if enough people ask, they can come up with a statement setting out coverage limits in dollar terms. It's strange. They don't usually limit coverage to a specific dollar amount across all types of claims. For example, there may be limits to coverage for mental health issues that don't apply to physical problems.

Edited November 24, 2016 by js007

[Shit_Happens 31]

I lived in Pattaya for 3 years, and came back to Aus 7 years ago and I know it is difficult to get money out of Thailand so I would be very hesitant moving 3M baht back to Thailand. I will be retiring in 2 years and plan to leave my money in Australia. Also 100,000 baht a month is about the maximum I will be needing a month, probably less so that is also an issue.

Nothing is clear yet if they will keep the marriage visa going as that would be the most economical for me. Or the current retirement visa which worked well for me last time.

Edited November 26, 2016 by Shit_Happens

[Bullfrog 2,224]

If you are British put 3 million baht (GBP equivalant) in Premium Bonds and use the premiums to pay for annual visas.......

[jacko 8,578]

If you are British put 3 million baht (GBP equivalant) in Premium Bonds and use the premiums to pay for annual visas.......

They are dead money these days, and 3 million baht is more than the holding limit of £50,000.

The chance of each bond wining are 1 in 30,000, so don't expect to win too much. Probably 20 x £25 prizes every year. £25 a month, £50 on a lucky month.

 

Income Bonds would give you 1% ie about £60/month!

 

You can get better interest on a Thai account.