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Govt approves 10 year visas for foreigners over 50 


Jonathan Fairfield

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Govt approves 10 year visas for foreigners over 50 

By Teeranai Charuvastra, Staff Reporter

 

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BANGKOK — Affluent foreign residents over 50 will soon be able to apply for 10-year visas, a government spokesman said Tuesday.

 

Intended to promote Thailand as a hub for medical services, the policy was approved by the interim cabinet on Tuesday, according to spokesman Athisit Chainuwat.

 

It would replace 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.

 

Full story: http://www.khaosodenglish.com/news/business/2016/11/22/govt-approves-10-year-visas-foreigners-50/

 

 
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-- © Copyright Khaosod English 2016-11-22
 
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It would be really nice to only have to visit immigration every 5 years, but I'm not going to hold my breath.

 

Are they just going to "announce" the ThailandElite scheme?

 

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It would be NIGHTMARE news for a large portion of us, if this will be the only option and the current one year extensions with the current financial requirement levels are phased out. 

 

http://www.khaosodenglish.com/news/business/2016/11/22/govt-approves-10-year-visas-foreigners-50/

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earn a monthly salary of at least 100,000 baht or have more than 3 million baht in their bank account, which cannot be withdrawn within the first year after receiving the visa.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.

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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earn a monthly salary of at least 100,000 baht or have more than 3 million baht in their bank account, which cannot be withdrawn within the first year after receiving the visa.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

 
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3 mil in the bank for the first year (only ?) and health care coverage providing $10,000 US per year coverage ?

 

Still have to do 90 day reports (though there's a rumour that they may change that to once a year). Plus have to renew after 5 years ? Will you have to have another 3 mil in the bank for a year for the 2nd renewal as well ?

 

Of course this is all subject to change, amendment and/or cancellation so I guess we'll just have to wait until it's actually official.

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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.

Hmmmm.... Sounds a bit complex for the majority! 

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