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Thailand - Long term visas for expats

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  1. #21

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    Quote Originally Posted by kchan99:
    I am over 50, 25k is about the limit of how much I would want to put into Thailand considering all the risks past and future, as a semi digital nomad, looking at Thailand as a medium term base, so 10 year visas is bit of an overkill for me.
    You can go to Thailand as a tourist have one of the little shops help you convert to a retirement visa. There is a slight advantage to having your visa issued in Thailand rather than overseas as there are less health insurance requirements. But that could change at any time. Just getting to Thailand is a long convoluted process right now anyway.

    To be clear, the 25K for retirement visa you get to keep your money, and can actually draw down from that account throughout the year as long as you top it up again when it comes time for your annual renewal. Many people choose to leave the Baht 800k balance steady in their account to avoid complications.

    As opposed to the Elite visa where the approximately equivalent fee as ndt mentions is the cost of the visa itself. But there is no minimum age requirement.

    Personally, if I was coming and going frequently in and out of Thailand and had a good income I might opt for the elite visa; but if I was over 50 and planning on staying put the retirement visa works well. For now.
    shri and kchan99 like this.

  2. #22

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    Reading this thread I see that there are many different options on offer in Thailand. I am currently not looking for a visa as my MM2H is still valid for a couple more years. But out of curiosity I would be interested whether there is a visa available for the current conditions?

    (*) age at start >55 years.
    (*) willing to put approximately $40k in a Thai bank account, fixed deposit, or something similar (basically this is the amount which is now stuck in a Malaysian FD). I don't mind if I can't touch this money during the duration of the visa.
    (*) no income requirements (as I mostly live of of my investments and don't receive a high pension).
    (*) I will buy a medical insurance in Thailand.


  3. #23

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    Quote Originally Posted by Windmill65:
    Reading this thread I see that there are many different options on offer in Thailand. I am currently not looking for a visa as my MM2H is still valid for a couple more years. But out of curiosity I would be interested whether there is a visa available for the current conditions?

    (*) age at start >55 years.
    (*) willing to put approximately $40k in a Thai bank account, fixed deposit, or something similar (basically this is the amount which is now stuck in a Malaysian FD). I don't mind if I can't touch this money during the duration of the visa.
    (*) no income requirements (as I mostly live of of my investments and don't receive a high pension).
    (*) I will buy a medical insurance in Thailand.
    Assuming you mean US40k, you easily qualify for a retirement visa under current rules:

    1. Put 800k baht in a Thai bank.
    2. Apply for and renew your visa every year and visit immigration every 90 days to say hello.
    3. No need to ever leave Thailand as long as your visa is renewed.

    If you do all the paperwork yourself it costs well under US$400 for a multiple-entry annual visa. A visa shop will charge a few hundred additional US dollars to help you. Health insurance is extra.

    At the end of each year they could refuse to renew your visa. Some who've lived in Thailand for decades on the above conditions are worried the new schemes will force them out. Others believe as long term residents they will be grandfathered in under the old rules. And still others believe none of the new schemes will gain any traction as there are more attractive schemes costing less in other countries, so things will continue as they are.

    Very easy process, except for the current COVID difficulties.
    Last edited by xhkge; 16-09-2021 at 02:31 PM.
    Windmill65 likes this.

  4. #24

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    I dont understand why there are always AGE specific restrictions to these Visas.

    Such as Philippines, they have a retirement Visa for 35 and up. Why cant rich young(er) people be accepted under the retirement Visa lol. The whole point of these Visas are to attract new blood and money.


  5. #25

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    Quote Originally Posted by Windmill65:
    Reading this thread I see that there are many different options on offer in Thailand. I am currently not looking for a visa as my MM2H is still valid for a couple more years. But out of curiosity I would be interested whether there is a visa available for the current conditions?

    (*) age at start >55 years.
    (*) willing to put approximately $40k in a Thai bank account, fixed deposit, or something similar (basically this is the amount which is now stuck in a Malaysian FD). I don't mind if I can't touch this money during the duration of the visa.
    (*) no income requirements (as I mostly live of of my investments and don't receive a high pension).
    (*) I will buy a medical insurance in Thailand.
    It really depends on what options are available around Asia when your current MM2H expires, i do think many countries will re-asses/rehaul legacy retirement visas in post-covid world just like Thailand and Malaysia so your choices then might be different from what it is now..

    Also, i know you dont have very high opinion of and hope from Malaysian politicians but i still think there are chances you will be grandfathered under current MM2H, least they can do to fulfil moral obligation and decide whatever for new entrants..

    There is also a third possibility, many of these new high-flying schemes may start with a bang but then might go into classic Asian trial and error mode with loopholes etc so there might be some tweaking when they realize actual inflow is few hundred billion short of estimation . I guess best option for someone in your position is to wait at least till next year and see how both country's schemes turn out... BTW, Sarawak is still no-brainer for you in terms of requirement until federal Govt does something to make them change it..
    Windmill65 likes this.

  6. #26

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    @xhkge thank you for your reply (I indeed meant 40k USD). And about mentioning the potential for renewal being denied. I had forgotten to mention that I'm interested in visa options where I'm certain of my visa status for a longer period (e.g. 5~10 years). Having the risk each year of being kicked out is not good for my peace of mind.
    @ndt I am not going to take any steps any time soon, but wait another couple of years. The hypothetical case which I mentioned above is purely meant to get more clarity about the various Thai options which currently exist (and may not exist by the time I do a detailed investigation).


  7. #27

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    A Step closer, Looks like schemes should be opened in Q1-22 as per original plan...

    Plans to roll out a 10-year long term visa scheme have made a step forward. Measures to attract wealthy foreigners and investors through the long term residency scheme were approved in principle by PM Prayut Chan-o-cha at today’s Economic Situation Management Committee Meeting, according to Thai Media.
    Four groups of foreigners are targeted for the scheme including wealthy international travellers, rich retirees, digital nomads or employees of foreign companies who work remotely from Thailand, and highly skilled professionals. The measures had been approved by the Cabinet in September.
    https://thethaiger.com/hot-news/visa...approved-by-pm

  8. #28

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    @ndt - Seems to be some sort of MM2H hybrid...

    In USD ...


    To qualify for the 10-year visa, which includes family members, the Thai government said that “wealthy global citizens” would have to invest at least $500,000 in bonds or real estate and prove they had a minimum income of $80,000 per year. Retirees will need to invest at least $250,000 and earn a minimum of $40,000 a year. 
    https://www.ft.com/content/e24ca28c-...b-66da3c069c06

  9. #29

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    Oh yes, most Asian Govts suffers from one or the other form of delusional megalomania in spite of lackluster response on previous schemes, personally i have no interest in any of those wealthy categories, just waiting for details on digital nomad category and see how they roll it out, lets see how 'Pioneer of digital nomad village/city in Asia' they are..


  10. #30

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    Quote Originally Posted by shri:
    @ndt - Seems to be some sort of MM2H hybrid...

    In USD ...



    https://www.ft.com/content/e24ca28c-...b-66da3c069c06
    Unfortunately I can't read that FT article because I don't have a (paid) subscription.
    Does the article describe what sources are considered "income" for retirees? Does that include income from investments (e.g. dividends, capital gains), or only things as salary, pension and rental income from real estate?