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ian007

Elite or retirement visa?

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I come and go quite a bit to Thailand normally under the 30 day mark so my passport is pretty well stamped with VOA's.

I plan spending more time there soon am over 55 so the question is... what is better, to apply for a retirement visa or pay the THB 500.000 for a Gold Elite Visa? Pros and cons please...

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The pros are 10.000 baht against wooping 500.000 baht.

 

glegolo

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The Elite visa program make a lot more sense for single non-working  people under 45 years old who have almost no other options to stay long term. A non-O or non-O-A is significantly less expensive and are easy to do and maintain yourself. These days a non-O may be the preferred option because there is no insurance requirement.

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Your problem with a retirement extension is having to be in Thailand when it requires renewal....

Secondary, you either have to leave money in the bank.. or send money in every month. If you aren't here every month sending it doesn't make sense.

 

Elite is a big whack of money you will not get back. Your call,

 

 

Edited by jacko45k
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1 hour ago, TTSIssues said:

Having had an elite visa, I can assure you the service is amazing - but you know the price. If you have plenty of spare cash then do the elite, if not do the retirement. 

Service is amazing? How so? I have found it exactly the opposite.

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2 hours ago, TTSIssues said:

Having had an elite visa, I can assure you the service is amazing - but you know the price. If you have plenty of spare cash then do the elite, if not do the retirement. 

I would not give them 500.000 Bt money for an Elite Visa even if I was a baht billionaire.

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On 1/15/2020 at 10:06 AM, glegolo said:

The pros are 10.000 baht against wooping 500.000 baht.

 

glegolo

I only paid 1900 Bh...

PS I get you now 5 years is indeed around 10.000 Bh.

Edited by asiamaster
mistake
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3 hours ago, toolpush said:

Service is amazing? How so? I have found it exactly the opposite.

I got the 5-year visa.

 

Wouldn't call the service amazing, but it's a nice bonus. I certainly enjoy the speedy immigration process and the taxi service between airport and hotel when leaving the country or entering the country. Also when leaving the country it's nice to sit in the airport lounge with free coffee and snacks.

 

I feel it's worth the money, but mostly for the "no hassles" immigration process. If I don't leave the country I only have to go to immigration once a year, the 90 day reports can be done online. But usually I leave the country at least once a year, so don't have to go immigration ever. I am very happy about that, because in the past had some hassles with an Education visa and it really annoyed me a lot, not to mention it took a lot of time.

 

If you can get the retirement visa it might be better from a cost perspective, but a bit more hassles. Same with marriage visa and (possibly) dependant visa.

Edited by wolf81
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On 1/15/2020 at 3:28 AM, ian007 said:

I plan spending more time there soon am over 55 so the question is... what is better, to apply for a retirement visa or pay the THB 500.000 for a Gold Elite Visa? Pros and cons please...

If you can full-fil the requirements for a non-immigrant "O" visa and extension of stay based on retirement, then that would be the preferred solution in my opinion, and also experience from several years using this method.

 

The difference is 520k baht in cash, and 800k baht in a bank deposit – just deposit them, and forget them, so you don't have to worry about proof on income and seasoning of funds – which will pay you around 10k baht in interest after withholding tax from a 12-month fixed account.

 

Your annual costs for extension of stay are typically:

  • Visa fee 2,000 baht (think it has gone up from 1,900 some places)
  • Multiple re-entry permit (if needed) 3,800 baht, eventually buy single re-entry for 1,000 baht only when needed
  • Letter from bank and statement circa 200 baht
  • Eventually health check (in a few places only) circa 250 baht

In total about 6,000 baht a year; compared to 500k baht for 5-year Elite card, you have (5x10) 50k baht in interest, minus (5x6) 30k baht in costs, so a plus of 20k instead of a loss of 500k baht...🖕

 

It's not that difficult with the paperwork, just you keep yourself updated about actual immigration office demands from for example a local area visa-thread in Thaivisa forum, and prepare your paperwork for the annual extension. The few 90-day reports are simple, and when you're not working – i.e. stay here as retired – it should be possible to find that total of about 6-7 days during a year; i.e. 4 days for address reports, 1 day for paperwork preparation, and 1-2 days for application of extension and pick up of passport...🙂

 

I talk from positive experience, and can easily find a way to spend my saved both 500k baht and the 20k baht interest plus, and should I not be able to do it myself, I'm sure I can meet a gorgeous young lady that will get rid of them in no time...😉

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2 minutes ago, Fairynuff said:

Well I never knew the Elite visa included “dolly birds” giving it away in the lounge..... really? Methinks not.

Is Elite visa an equal opportunity employer? Can I have Thai guys attending to my every need in the lounge?

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21 hours ago, Fairynuff said:

Well I never knew the Elite visa included “dolly birds” giving it away in the lounge..... really? Methinks not.

Other than the dolly birds and bmw i8 rest is correct. It’s actually a bmw i7 btw. An i8 limousine would have been weird anyways as only two doors. 

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