Is this good news ?

alanthebuilder said:
http://www.findthaiproperty.com/tha...nt-approves-visa-incentives-will-more-follow/
Click to expand...

For some wealthy people, maybe. But for most I suspect the 10-year visa is not a viable option. The financial requirements are pretty steep and the cost of obtaining medical insurance, especially the older you get, becomes prohibited. Plus the fact, you still have to report to Immigration every 90 days.

1. To qualify for the new Thailand-Ten-Year-Retirement-Visa, applicants must have a monthly income of at least 100,000 baht ($2800) or a bank account with three million baht deposited ($84,000). If the latter, this must be maintained as available funds for at least one year after the granting of the Thailand-Ten-Year Retirement Visa.

2. In addition to the above, applicants are required to have medical insurance cover. This is for one year, with at least $1,000 US for out-patient care and $10,000 dollars for in-patient care each time.

3. It’s important to note that holders of the new visa must also report to a designated immigration office every 90 days.

Not for me.
 
I cannot see any advantage. You still need to turn up at immigration 4 times/year except that once a year, maybe you don't need to provide bank/income proof (although I doubt that).

I also noted this: "This 90 day report may be carried out with power of attorney of a local lawyer on your behalf if preferred arranged by Find Thai Property" which implies the 90 day reporting by internet is not permitted.

Also there is no mention of the cost of said "visa" and if you will be required to obtain re-entry permits during your visa period.

We shall no doubt have to await further developments.

I agree with Nomad. Not for me as the proposed reported regulations currently stand.

[Edit: The information as published on the site is also 1 month old]
 
Most of us will have passports that are valid for up to 10 years. My old passport was due to expire in February 2017 - next month - and when I applied for a marriage extension to my visa in August 2016, it was granted until that passport's expiry date. I renewed the passport, and took it to SI in November for a 90 day report. They transferred the marriage extension to it, but that extension will expire next month - after just 6 months - when I will have to make another application for an extension that will last for 12 months - at the same standard 1-year cost which I paid in August.

The point of the above is to ask what will happen with a 10-year visa? Will it too expire on the same expiry date of any passport that has less than 10 years left to run, or will they transfer it to a new passport, extending the visa expiry date to 10 years from the original application?

I'd hate to be told that the 3million would have to be seasoned for the date of new passport being issued as well as for the visa's first twelve months, and again on the 5th anniversary.
 
My old passport expired on 6th June 2010. My extension (due to expire on 27th June 2010) was granted in 2009 only until 6th June 2010. Prior to 6th June 2010, I went to immigration (Chock Chai at that time) and they transferred the relevant data to my new passport free of charge giving an expiry date of 27th June 2010. Of course, I had to return prior to 27th June 2010 to extend again but the extension was then granted until 27th June 2011.

[Edit: at the time of the transfer and extended extension I was not required to prove any funds].
 
What is missing (although it's probably unknown as yet) is the cost of the extensions (Bht 1,900.00 for the 1 year).

[Edit: And would the cost of a multiple entry permit be Bht 38,000 for the ten years?]
 
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I was about to point out in response to Nomad (but his post has disappeared from my screen) that 12 * Bht 65,000 = Bht 780,000 but 12 * Bht 100,000 does not equal Bht 3,000,000.

The plot has yet to un-thicken.
 
I think I read that the cost was 10,000 Baht.


This could have some appeal for me.



Rough estimate of 10 year savings = 30,600 Baht.
 
As an "investment" (against the cumulative cost of annual extensions) the price of the new visa may be very appealing to someone aged 50. It might be less attractive though for those of us who are older, contemplating the gamble of surviving the 10 years in order to make the cost saving!
 
Yorky said:
I was about to point out in response to Nomad (but his post has disappeared from my screen) that 12 * Bht 65,000 = Bht 780,000 but 12 * Bht 100,000 does not equal Bht 3,000,000.

The plot has yet to un-thicken.
Click to expand...
Yorky, my post did not format correctly on the screen - I will have to tabulate in another programme, convert to .jpg, and repost on here.

By the way, your specifics above are not my calculations but what has been reported many times previously by other parties. E.g.

Retirement Visa Qualifications
  1. Applicant must be 50 years of age or over.
  2. Must not have any criminal history and can travel to Thailand.
  3. Must meet the financial requirement:
    • Security deposit of THB 800,000 in a Thai bank account for 2 months prior to the visa application; or
    • Monthly income or pension of at least THB 65,000. An affidavit from the foreigner embassy or consulate has to be obtained as proof of the income; or
    • Combination of the Thai bank account and yearly income - with the total of 800,000 THB.
See: http://uk.siam-legal.com/Thailand-Retirement-Visa-for-UK-Citizens.php

Similarly,

Marriage Visa Qualifications
  1. Must be legally married to a Thai national.
  2. Must not have any criminal history and can travel to Thailand.
  3. Must meet the financial requirement:
    • Security deposit of THB 400,000 in a Thai bank account for at least 2 months prior to the visa application; or
    • Monthly income of at least THB 40,000. A letter from the foreigner embassy has to be shown to verify this income; or
    • Combination of the Thai bank account and yearly income - with the total of 400,000 THB.
See: http://uk.siam-legal.com/Thailand-Marriage-Visa-for-UK-Citizens.php

and the new 10 Year visa,

"It would replace the 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."

See: http://www.khaosodenglish.com/news/business/2016/11/22/govt-approves-10-year-visas-foreigners-50/
 
I believe the Thailand Elite Card is still available http://www.thailandelite.com/glimpse.php

I have heard that many Ex-pats like to use the other cheaper version though :rolleyes:

VISA%20Custom.png
 
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