New Long Term Visa - Not Easy To Obtain.

Stargazer

Stargazer

Surin Legend
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...
 
Mel Malinowski said:
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...
Click to expand...

If I had an income of US$80,000/ monthly I sure as hell wouldn't be in Thailand. lol :p

Give it a go. 'Horses for courses...'
 
Cent said:
So according to that number shown you'd need a retirement income of just around a million bucks annually.

"I realize that doesn't apply to everyone hanging out here, but if it does, it is a game-changer."

I don't think that applies to ANYONE hanging out here. LOL :p o_O:rolleyes:
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Certainly not me!

Whether obtaining it is easy or not, we can only wait to find out.

But I would not describe it as "great".
 
Straight from the horses mouth

For High-income Foreign Retirees:

Must present a health insurance policy covering medical expenses in Thailand no less than USD 50,000. The remaining coverage period shall not be less than 10 months on the date of the application, OR provide evidence of savings of at least USD 100,000 held in a Thai or overseas bank account for no less than 12 months before the date of application.

High earners must have proof of personal income of at least USD 80,000 annually at the time of application

In case of having personal income only between USD 40,000 to USD 80,000/ year, the applicant must invest at least USD 250,000 in Thai government bonds, foreign direct invest or Thai property.

The visa issued will be for five years with a second 5 year visa to be issued.
 
georgefromcanada said:
Straight from the horses mouth

For High-income Foreign Retirees:

Must present a health insurance policy covering medical expenses in Thailand no less than USD 50,000. The remaining coverage period shall not be less than 10 months on the date of the application, OR provide evidence of savings of at least USD 100,000 held in a Thai or overseas bank account for no less than 12 months before the date of application.

High earners must have proof of personal income of at least USD 80,000 annually at the time of application

In case of having personal income only between USD 40,000 to USD 80,000/ year, the applicant must invest at least USD 250,000 in Thai government bonds, foreign direct invest or Thai property.

The visa issued will be for five years with a second 5 year visa to be issued.
Click to expand...
It remains a good option for some people.

Excluding health insurance costs I would save 10,000 Baht over 10 years + the the hassle of not doing extensions or getting reentry permits
 
I'll pass. I will stick with the 90-day online report, a 1,900 baht renewal fee each year, no compulsory health insurance, and no money in the bank, and bring into Thailand in excess of 65,000 baht/month.
 
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nomad97 said:
I'll pass. I will stick with the 90-day online report, a 1,900 baht renewal fee each year, no compulsory health insurance, and no money in the bank, and bring into Thailand in excess of 65,000 baht/month.
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As I said, It remains a good option for some people...... I can think of a lot of people it wouldn't suit.


Don't worry Nomad, you wouldn't qualify. :smirk:
 
CO-CO said:
As I said, It remains a good option for some people...... I can think of a lot of people it wouldn't suit.


Don't worry Nomad, you wouldn't qualify. :smirk:
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You never know, I may strike it lucky on the lottery or premium bonds. c :D :D :D
 
georgefromcanada said:
Straight from the horses mouth

For High-income Foreign Retirees:

Must present a health insurance policy covering medical expenses in Thailand no less than USD 50,000. The remaining coverage period shall not be less than 10 months on the date of the application, OR provide evidence of savings of at least USD 100,000 held in a Thai or overseas bank account for no less than 12 months before the date of application.

High earners must have proof of personal income of at least USD 80,000 annually at the time of application

In case of having personal income only between USD 40,000 to USD 80,000/ year, the applicant must invest at least USD 250,000 in Thai government bonds, foreign direct invest or Thai property.

The visa issued will be for five years with a second 5 year visa to be issued.
Click to expand...
All correct
 
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