Forgot something...you can buy a "citizenship" for 500,000 baht.

Simply put ...

Both have to show up at immigration the same number of times each year. Both have to do mandatory 90-day reports. The 10-year ties up a huge amount of money, costs more annually, and puts personal funds at risk to fluctuating currency values. For those who choose to self-insure, the 10-year adds the burden of finding insurance.

From my point of view, things are the same in some aspects and worse. I don't see any upside to a 10-year. I won't be opting for the 10-year if I still have a choice. :-"

We are all in different situations I've been doing the minimum requirements for years now. I do things on a monthly basis. (0 days is easy getting Embassy letters is getting more expensive these days.

So for me easy. at 70 I'm paying major medical with extensive coverage roughly $ 1125 quarterly. It's the big one that concerns me. I can easily absorb Dr's visits

PS it's not bUpA

bumper wrote:We are all in different situations

There's no doubt about that. =D>

bottom line is that we can all speculate at what the news story put out but until it is actually codified into law and Immigration regulation we won't know what exactly will happen.. Lots of question arise:

1. will the one year Retirement visa remain as is with the same income requirements.
2. on the new 10 year visa will the income requirements as for the current one year retirement visa/extension be a similar calculation of income combinations; money in the bank and monthly income..
3. Will the multi-re-entry permit be part of the 10,000 Baht Visa/extension cost or separate as it now is for the one year..
4. Will any documentation requirements change.
5. How will they determine health insurance coverage if you're properly insured from your home country..

Well I guess we will find out December 1 the supposed day of Induction

Ok I'm 70 now, 80 I would expect around $9K a year. I don't expect to j have any bills I could pay that much now if need be. I got mine with only one exclusion,. But, I also got it two years ago. I had BUPA before however it really didn't cover what most older people croak of. Cancer or heart problems, my current one does. I developed diabetes this year, if I were to try to change now I'm sure there would be an exclusion

A friends wife in the states under the Obama plan at 64 pay over a thousand a month, so that is not as much as you would think, in comparison.

The other aspect 3 mil. I agree.

I have PTSD and that is what is excluded

Any word as to when this will be implemented?? or if it will in its present form??????

Not that I know of. One thing I try to keep in mind his is the first time I have seen the Thai Government bend on this issue. Not all of us ma be able use it. But, some will. The impression I have is the one year option still exists

I have never wanted to be self insured. But, that is just me.

The Thai government has approved the extension of long-stay visas for senior tourists from one year to ten years.
The new visa will cost 10,000 Baht. The Ministry of Public Health reported to the Cabinet on 22 November 2016 that the number of foreign senior citizens seeking to stay in Thailand for a long period is on the rise. As Thailand aims to develop itself as a Medical and Wellness Tourism Center, the Ministry of Public Health and the Ministry of Tourism and Sports in their joint meeting agreed to create a new long-stay visa of 10 years.
The extension will be offered for tourists from 14 countries, namely Australia, Canada, Denmark, Germany, Finland, France, Italy, Japan, the Netherlands, Norway, Sweden, Switzerland, the United Kingdom, and the United States.

Extension of the Duration of Stay for Non-Immigrant Visa (Long Stay Visa)

The criteria are as following:

1.1 The age of applicants must be at least 50 years of age and are required to apply for the O-A visa at the Thai Consulate in their respected countries, or if a tourist traveling with a different visa wishes to change their visa type to O-A they are able to but they will be issued a multiple entry O-A visa for a duration of 5 years and are able to apply for another 5 year renewal of the O-A visa.

1.2 The fee for the O-A visa is 10,000 THB

1.3 The applicant must submit their bank statement with a minimum balance of 3 million THB or evidence of a minimum monthly income of 100,000 THB. When renewing the O-A visa, the applicant must again submit their bank statement with the balance no less than the previous submission for the visa, and also evidence of a minimum monthly income of 100,000 THB.
Though within the first year of the 5 year period, the applicant must maintain the balance of 3 million THB or minimum monthly income of 100,000 THB, after which the applicant must not withdraw more than 50% of that sum. The applicant must also submit their withdraw statements for payments in Thailand.

1.4 The applicant must submit their Medical Insurance with 1 year validity and covering the following amount; inpatient, minimum of 10,000 USD, outpatient minimum of 1,000 USD per year.

1.5 Report to the Immigration Bureau once every 90 days.

1.6 Applicants are able to bring over their spouse and children, in the case of the spouse being at least 50 years of age, they are also able to apply for an O-A visa and also have to submit their bank statement. If the spouse is less than 50 years of age then they will receive an O visa, for children under the age of 21, are able to accompany their family to Thailand for education and will receive a non-immigrant visa type (ED).
They are able to purchase vehicles, condominiums in Thailand (with reference to the Condominium Act of 1981) with the cash being transferred from their native bank to the Thai bank account. Also, the Thai bank must issue a letter certifying the said transfer.

PLEASE NOTE: A 1 year O-A visa is still available for those who do not meet the criteria for 10 year O-A visas.

COMMENT UPDATE on 15 December 2017: The new retirement visa is an initiative between the Ministries of Public Health & Tourism.
It has been passed by the Cabinet & is now with the Ministry of Interior.
There are no confirmed details yet about what it will include.
It will take at least three more months to finish.
The above information was sent to me by the Ministry of Tourism and Sports.
Some details may change.

Source: Foreign Office, The Government Public Relations and the Ministry of Tourism and Sports

So does this mean that someone who is currently on a non-immigrant "O" visa based on retirement and gets a one year extension every year, will be able to maintain that status with no change in the requirements?

Seems like it a Grandfather clause it would appear
OR I should say

I hope

Reading the information supplied by pgthai it would appear that this is, infact, a new OA Visa.
It also plainly says that the current OA Visa also remains available.

That would appear to suggest that it has nothing to do with how most Falang stay long term in Thailand. That is by way of yearly extensions of permissions to stay to O Visas for reason of marriage or retirement.
There is no indication that the current situation via the local Immigration Office will change in any way.

But, as always in Thailand, it is almost impossible to predict what will happen tomorrow..

If you are over 70 and do not have Medical Insurance it is almost impossible to obtain in Thailand. $10,000. USD is over 350.000 Baht.

Yep the younger you are the easier it is to g. One thing to keep in mind if you get it when your younger more then likely you would pay the same as someone who is 70. Might want to contact Matt in Hua Hin and see if he has some answers. ( sponsor I believe)

!0k may be enough if you go to the Government. Hospital. But, not AEK or Bangkok Hospital.

To cover the outpatient aspect would drive the premiums up, much more then the actual cists you would normally pay through a year.

I don' know if they have a breakdown for out patient of 1 K a year.

Still lots of things that need answers I'm hoping