I just learned about the new Long Term Visa (10 years) and have applied for it. If you meet the qualifications, they make it very easy. You can do the whole application remotely, on line, from anywhere. The downside: you have to have a substantial income, and qualifying health coverage, or invest a bundle in Thailand.
I'll report on my experience here. There is an excellent Youtube video about it by Chris Parker:
Long term visa details
I'm applying through the 'Wealthy pensioners' provision. For that you must be over 50, have a monthly pension/income of $80,000 USD per month or more (in certain cases, you can have just $40,000 plus some property investment in Thailand), and qualifying health insurance. I realize that doesn't apply to everyone hanging out here, but if it does, it is a game-changer.
Once accepted, supposedly within 4 weeks, you get a renewable 10 year visa, no more re-entry permits required, no monetary deposit requirement in a Thai bank, and only have to report online once yearly! It costs 50,000฿ up front for the 10 year period. I'm not sure they've thought through what the renewal process/cost will be. They are currently swamped with applicants, 40% of whom fall in the 'wealthy pensioner' provision. 1,000 applicants in just a few months. They are targeting a million...I think they'll need more staff.
I walked into the Board of Investment, and without an appointment got to see Kantarot Laopradith, who is the exec interviewed in the video. Excellent command of English, and a great attitude. She has asked me to provide some technical advice to help them improve their application website. This is a great new direction for Thailand. Thailand has seemed to be trying to punish everyone in order to prevent poor backpackers from overrunning Thailand as a cheap place to live. I'm not dissing them, but do understand the issue that concerns the government. They are considering allowing farang under this visa to buy and own 1 rai of land to build a house. More later...