New 10 year retirement visa approved

[Gaybutton]

Ok, I see I am not alone in this. Welcome to the latest item on my "I Don't Get It" list.

[Jun]

Was the cut off for the other arrangements 55 & this one 50?

[travelerjim]

No... The current visa is available for the 50+ expat
Tj

[Jogger]

https://www.thaivisa.com/forum/topic/98 ... -scrutiny/

[Gaybutton]

https://www.thaivisa.com/forum/topic/98 ... -scrutiny/

That article was written by Barry Kenyon, former British Consul in Pattaya. I don't know why you posted only the link rather than the article too, but here it is - and I agree with him.
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Ten-year retirement visa doesn’t stand up to scrutiny

It is difficult to see who would rush to buy the new 10-year “retirement” visa announced on social media. It is actually a five-year visa renewable once, but the requirement to report every 90 days remains.

You now need to show Bt3 million, mostly or all in a Thai bank, and must have police clearance from your home country. The latter is difficult to obtain in some countries and virtually impossible if you happen to be American.

Medical insurance is compulsory, but must be bought only from a Thai company with the document written in Thai. This suggests that many farang will need to have two insurance policies, since the cover required for the 10-year visa is too low to cover many surgical procedures. Of course, many older foreigners can’t buy any kind of medical insurance as they are at higher risk of serious hospitalisation.

In fact there are alternatives to the complex medical insurance scenario, such as leaving a sizeable deposit in a Thai hospital to help cover future contingencies. But that would require a government initiative. If you speak to bursars in Thai private sector hospitals, they will tell you that many non-insured aliens are rich enough to pay all their bills. Not all are on the breadline or are basket cases.

It is a foregone conclusion that retirees will continue to opt for the one-year extension, which is familiar and relatively straightforward. But that assumes that new 10-year visa will indefinitely remain an alternative rather than a compulsory feature of the immigration menu! To be successful, the 10-year visa would need some perq such as the right to work part-time (as in Malaysia) or extended right to buy property (Indonesia) or hassle-free bureaucracy (Cambodia upcoming).

Barry Kenyon
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Personally, I'm waiting to see the response from whoever came up with this 10-year visa idea when he realizes droves of eligible people are not exactly lining up to accept the offer.

Don't these people think things through? What were they thinking? What on earth made them believe anyone in his right mind would want this?

I just may have had something there when I wrote, "The best analogy I'm coming up with is this visa is like when you invite someone to a party, and the only reason you invite him is because you know damned well he isn't going to come. But nobody can say you didn't at least make the offer . . ."

[fountainhall]

I suspect the only reason for this new type of retirement visa is cash! Like the Thailand Elite programme, it is not aimed at those of us already retired here. It is for those overseas with a reasonable cash pile who are considering retirement and its medical cost implications and immediately think - Wow! Good deal! Without some research they may assume that the only alternative is the Thailand Elite programme which would cost them a great deal more.

I don't know why you posted only the link rather than the article too

Totally agree. Although not on this occasion, there are times when links are posted to media not accessible in Thailand or which require subscriptions and therefore cannot be read. Clicking and pasting cannot be too onerous.

[Gaybutton]

its medical cost implications and immediately think - Wow! Good deal!

I'm not so sure. Even if that's what they think, they'll still have the problem of obtaining the Thai medical insurance. And once they see, as farang, what is actually available to them isn't worth shit with holes in it, my guess is they'll at least have second thoughts.

I keep saying the same thing. Unless I'm missing something I don't have any idea who the target customers would actually be or who they would expect to be interested. If anyone on this board does go for it, I'd be curious to know why.

[Jogger]

"I don't know why you posted only the link rather than the article too"...

I posted only the link as when making the post I vaguely recalled (rightly or not) something about The Nation getting their knickers in a twist about usage of their articles...but hey in future I simply won't bother....ok?!

[Gaybutton]

The Nation getting their knickers in a twist about usage of their articles...but hey in future I simply won't bother....ok?!

Based on that response, I'd say it isn't The Nation getting their knickers in a twist . . .

It is perfectly legal to post articles provided your post includes a link to the article.

[Joachim]

Actually it's the third choice. For the millionaires out there, there is still the Thailand Elite Programme! LOL

Elite program has several options. One of them is 5 year visa for 500000 baht. One needs to apply, they do security check and that is it. In my view, it is much better option than proposed 10 year visa.