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

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Interesting a piece written by Barry Kenyon (previous honorary consul to Pattaya) in yesterdays Bangkok Post.

Personally I see this visa as an additional option to the 1-year retirement extension. Such as the very wealthy or for off shore workers.

Personally I do not know anyone who gets more than 100,000 baht per month or who has medical insurance.

If it does replace the norm then we are sure to see a mass exodous.

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Personally I see this visa as an additional option to the 1-year retirement extension.

From what I have read, I see this as an extended O-A visa.

It's a Visa, not an extension, and then not managed by the same Thai administration. No reason IMHO to see any change in the Extensions rules, so I don't really understand the newspaper article above ??

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I got my information from the link I posted. I had health insurance for a number of years from a company that said they would never cancel me because of age. They never said anything about pricing me out. I cancelled the policy at age 65.

 

I don't remember for sure but I think that company was Liberty Mutual Group. I had to think about it for a while and when I read that the maximum payout was 1.25 million baht, I decided I could pay that much myself.

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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.

 

I maxed mine out when the limit was increased and have been getting 50 to 100 a month since...never less......and of course have instant access..

 

For sure banking conditions for a visa have changed over the years, but which Thai Bank account fits the bill for the current "instant access" requirements.??...I have been banking with Thai Farmers/Kasikorn for 20 years but each time I tried a "savings" account I was told by different immigration that it didn't comply with their rules...

 

Either way 3 million that you can't touch until you die is dead money.....

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I maxed mine out when the limit was increased and have been getting 50 to 100 a month since...never less......and of course have instant access..

 

For sure banking conditions for a visa have changed over the years, but which Thai Bank account fits the bill for the current "instant access" requirements.??...I have been banking with Thai Farmers/Kasikorn for 20 years but each time I tried a "savings" account I was told by different immigration that it didn't comply with their rules...

 

Either way 3 million that you can't touch until you die is dead money.....

The chance of winning on premium bonds was somewhat reduced about 3-4 months ago to one in 30,000 from I believe 1 in 24,000. Pretty much every prize is £25. A long way from one in 12,000 when I first bought some.

 

I have a regular Bangkok Bank savings account which has complied with requirements of Jomtiem immigration for the past 9 years.

 

If there was a 3 million Visa requirement there is a likelihood it would need to be in a Government Bond, and freshly brought into the country (or proof it was). Anyhow, I attended the Expats Club yesterday and was left with the impression this proposed Visa was not suitable for me, the details were little known and undefined, but it was not designed to be a replacement for the current one year extensions. It sounded more like an alternative to a Non-Imm O-A, and would also require medical check and police background report.

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I have a regular Bangkok Bank savings account which has complied with requirements of Jomtiem immigration for the past 9 years.

 

 

Thanks for the kick up the arse with the savings account...It is something I haven't looked into since moving down from ooop north....(where they were obviously more strict)

 

I'll be getting a lump sum portion of my Army pension in 3 weeks so it'll all fit together nicely...

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I had my 800,000 baht in the local Farmers Bank account that paid decent interest. The money was available at any time. It was approved by Loei Immigration. THEN, Loei got a new boss. She is a nasty bitch who decided that my bank account was not acceptable. I told the bitch that I would go to the bank and put the funds in a regular savings account. Not good enough, it had to be in the savings account for three months. I ended up having to go to Bangkok and get an income letter. That was a hassle in itself. About 650 kilometers one way. When I got back to Loei immigration I was fined a thousand baht for a two day overstay. This new deal probably all depends on the immigration office that you have to use.

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I maxed mine out when the limit was increased and have been getting 50 to 100 a month since...never less......and of course have instant access..

 

For sure banking conditions for a visa have changed over the years, but which Thai Bank account fits the bill for the current "instant access" requirements.??...I have been banking with Thai Farmers/Kasikorn for 20 years but each time I tried a "savings" account I was told by different immigration that it didn't comply with their rules...

 

Either way 3 million that you can't touch until you die is dead money.....

 

Bullfrog, I think the 3M has to stay in untouched for 12 months. No idea how they will police that.

 

Thanks for the kick up the arse with the savings account...It is something I haven't looked into since moving down from ooop north....(where they were obviously more strict)

 

I'll be getting a lump sum portion of my Army pension in 3 weeks so it'll all fit together nicely...

Hi Bullfrog I qualified for the retirement visa by keeping 800,000 in a SCB savings account 3 months before each renewal.

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Lets hope they keep the current one year retirement and or marriage visa's as this appears to be a bit of a nightmare for the average person.

Well they most certainly are still issuing retirement and marriage extensions within Thailand.

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From what I have read, I see this as an extended O-A visa.

It's a Visa, not an extension, and then not managed by the same Thai administration.

No reason IMHO to see any change in the Extensions rules, so I don't really understand the newspaper article above ??

This article "Updated Information about 10 Year Thai Visa for Senior Tourists" seems to confirm my points.

http://www.richardbarrow.com/2016/12/long-stay-thai-visa-for-senior-tourists-to-be-extended-to-10-years/

 

You will now have the choice between the classical 1-year O-A and this new 10-years O-A visa,

but no change if you choose the Extensions way.

Edited by Idefix

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This article "Updated Information about 10 Year Thai Visa for Senior Tourists" seems to confirm my points.

http://www.richardbarrow.com/2016/12/long-stay-thai-visa-for-senior-tourists-to-be-extended-to-10-years/

 

You will now have the choice between the classical 1-year O-A and this new 10-years O-A visa,

but no change if you choose the Extensions way.

I had my neighbour over gossiping and she was convinced something she read suggested this new visa was a replacement for extensions obtained in Thailand. I said I did not agree, and many people are getting the terminology wrong and creating such a false impression. Your link goes along with what I believe.

There being a desire to rid Thailand of retired people, who do not really have the funds,or supplement their limited incomes here is another rumour often repeated, never validated..

Edited by jacko

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The whole 10 year extension thing seems to be poorly thought out, though that's not surprising coming from this government.

 

Okay, it's for over 50 retirees. Given that insurance is prohibitively expensive and less and less likely to cover existing conditions by age 60, that's really a 10 year window where the applicants would have decent insurance. Beyond that, many have picked up various ailments that would be excluded by any insurance, making the coverage limits inapplicable.

 

So, why would they require such meager insurance anyway? The yearly limits are quite low and would hardly make a dent in a serious elder disease/incident.

 

Given the alternate requirement of 3M baht in the bank, why not just drop the insurance requirement (unless their "friends" are in the insurance business) and allow the applicants to be self-insured? Any "rich" person in Thailand would probably be able to self-insure anyway, and it seems 3M baht would cover most hospital stays. If the retiree can replenish the 3M baht before the next extension, then they continue on this plan, otherwise, they can drop back to the 1 year O-A extension as before.

 

For me, there is no way I am going to pay 50-70K/month for insurance so I can avoid going to immigration 5 times in 5 years, especially since I will have to go 20 times for reporting my address.

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This article "Updated Information about 10 Year Thai Visa for Senior Tourists" seems to confirm my points.

http://www.richardbarrow.com/2016/12/long-stay-thai-visa-for-senior-tourists-to-be-extended-to-10-years/

 

You will now have the choice between the classical 1-year O-A and this new 10-years O-A visa,

but no change if you choose the Extensions way.

Barrow's article does suggest the 10 year, or if you prefer 5-5, stay will be available via the conversion extension route.

if a tourist travelling with a different visa wishes to change their visa type to O-A they are able to but they will be issued a multiple entry O-A visa for a duration of 5 years and are able to apply for another 5 year renewal of the O-A visa.

 

That language suggests a reentry permit would not be required, but I'll believe that when I see it.

 

 

Okay, it's for over 50 retirees. Given that insurance is prohibitively expensive and less and less likely to cover existing conditions by age 60, that's really a 10 year window where the applicants would have decent insurance. Beyond that, many have picked up various ailments that would be excluded by any insurance, making the coverage limits inapplicable.

 

. . . .

 

For me, there is no way I am going to pay 50-70K/month for insurance so I can avoid going to immigration 5 times in 5 years, especially since I will have to go 20 times for reporting my address.

As we have touched on elsewhere, some number of us from the US have group health insurance through an employer which continued into retirement. For those who were self employed or otherwise don't have that coverage, not something that can be remedied now. QUERY--Is this even a possibility for those from countries with single payer health care systems. As I understand it, group health insurance through an employer is not something that would exist in the UK, at least not for those actually working in the UK.

Edited by nkped

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Barrow's article does suggest the 10 year, or if you prefer 5-5, stay will be available via the conversion extension route.

That language suggests a reentry permit would not be required, but I'll believe that when I see it.

As we have touched on elsewhere, some number of us from the US have group health insurance through an employer which continued into retirement. For those who were self employed or otherwise don't have that coverage, not something that can be remedied now. QUERY--Is this even a possibility for those from countries with single payer health care systems. As I understand it, group health insurance through an employer is not something that would exist in the UK, at least not for those actually working in the UK.

 

This visa may be useful for myself depending on the final details and as you say if it includes the re-entry permit.

My insurance is covered through International SOS through the company.

 

If you have less than 5-years on your passport obviously you will need to transfer a visa from one passport to another.

 

I am just curious if anyone has had to transfer a visa, how this is carried out and the implications.

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This visa may be useful for myself depending on the final details and as you say if it includes the re-entry permit.

My insurance is covered through International SOS through the company.

 

If you have less than 5-years on your passport obviously you will need to transfer a visa from one passport to another.

 

I am just curious if anyone has had to transfer a visa, how this is carried out and the implications.

Thai immigration won't transfer a visa from one passport to another but they will transfer a permission to stay.

Doubt any consulate would either.

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I find it interesting that Thailand seems to think that two can live cheaper than one. The marriage extension requires 400,000 in the bank and the retirement extension requires 800,000. I am legally married but use the retirement option. Much easier than the marriage type. I have heard nothing about changing the marriage extension requirements.

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I find it interesting that Thailand seems to think that two can live cheaper than one. The marriage extension requires 400,000 in the bank and the retirement extension requires 800,000. I am legally married but use the retirement option. Much easier than the marriage type. I have heard nothing about changing the marriage extension requirements.

Non married Expats have to pay more for various services Gary!

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Non married Expats have to pay more for various services Gary!

 

:lsmile Good point !

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