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10 year retiree visa for Thailand approved


Choff

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Found this article in Coconuts Bangkok,

Good news if its true..

https://coconuts.co/bangkok/news/new-10-year-retiree-visa-thailand-approved-quickly-dubbed-geeza-visa/

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Thailand has long been known as a country that welcomes foreign retirees who can prove they have plenty of cash in the bank. However, these retirees were still forced to go through a long series of paperwork each year to renew their retiree visa.

Now, a new retiree visa good for a decade has been approved and announced on Tuesday. The new visa quickly earned the nickname the “geeza visa” online, since you have to be over 50 to apply for it, reported Phuket Gazette.

Though it’s supposedly good for a decade, it has to be applied for in two installments of five years each. Only citizens of 14 countries are eligible, and they also need to have THB3 million (USD90,000) in the bank.

People from Denmark, Norway, the Netherlands, Sweden, France, Finland, Italy, Germany, Switzerland, Australia, the U.S., the U.K., Japan, and Canada can currently apply.

Lt. Gen. Natthathorn Prohsunthorn said that foreigners can apply for the new long-stay visa at Thailand’s provincial immigration offices, if they already reside in the country, or from their home country as well.

In addition to having THB3 million in the bank and being over 50, applicants must have sufficient health insurance, no pending criminal charges, and no past criminal convictions.

:)
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4 minutes ago, Choff said:

no pending criminal charges, and no past criminal convictions.

Shit - there go's the hopes and dreams of 75% of the expat community!!! :) 

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6 minutes ago, Choff said:

Good news if its true..

Old news, it's true, but don't see what good it is. Better options already available, fingers crossed this doesn't replace those options.

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Wonder if the 90k has to be in a Thai bank or your home country bank?

If home country bank, I'm covered but no way I would keep that amount in a Thai bank.

 

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Thai bank; from memory after first year you can take half out as long as it's for buying a condo/car etc. in Thailand. 

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7 hours ago, Choff said:

......applicants must have sufficient health insurance....

 

I wouldn't call US$10000 for inpatient and US$1000 for outpatient (the minimum requirement) sufficient....lol

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On 11/09/2017 at 03:06, scubascuba3 said:

No point getting it, stick with the 800k option

Too true. No point in this crap if you happen to have 3 million in the bank. Paperwork not too onerous for retirement extension and can be less so if you grease somebody's palm.

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If you’re rich enough for that visa (and stupid enough to block so much money in a Thai account) you can live anywhere and spend some periods of time in Thailand on a simple tourist visa.

If you can’t stand the heat, get out of the kitchen.

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Although i don't think its a good option at all, a couple of points. After the initial 3m deposit it can be reduced to 1.5m after a year and stay at that. Handy if buying a condo or something. The other complication is the medical insurance required. All in all i can't see its worth it unless you want to appear special and tell your friends you went for the 3m option. Although they will probably look at you as if you are stupid

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Read this before. The medical insurance bit is strange. Define "sufficient" ........ so variable as to be meaningless.:Dream1:

Plus rules could easily change overnight so move on ..... 

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On 9/10/2017 at 11:23, Ru4Real said:

Old news, it's true, but don't see what good it is. Better options already available, fingers crossed this doesn't replace those options.

Agreed. I looked at it and IMO it is pointed to persons under 50 who have a lot of money that they are willing to lock up.

I am filing a first time O-A in October from the USA. I have been researching it for a while now and think I have things pretty well together. Hopefully, those are not famous last words. :)

Did the medical blood tests the other day in the USA and it is good to know that I do not have Leprosy, Stage-3 Syphilis, TB, or Elephantiasis. Still learning how to spell the last one. The lab lady must have drawn 2 pints to feed all these tests.

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  • 2 months later...

The application fee for the 10 yr visa is 10,000b, about $300. So comes out to $30/yr. I guess thats one benefit 

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