Whether you are looking to buy or rent a house or condo in Thailand or are just planning a short visit, you need a visa. Navigating the Thai visa process can be tough, especially if it’s your first time. One of the biggest challenges is deciding which visa option is right for you.
New Thai Retirement Visa
If you’re over fifty-years-old and looking to move to Bangkok, you should have a new visa option in the near future. The Thai government is looking to add a new 10-year visa option that would be open to applicants aged fifty or older who want to retire in Thailand.
Right now, visas for expats who are moving to Thailand for the first time are only good for one year. After that, the visa holder must renew it each year for at least three consecutive years before they can apply for a Permanent Resident visa.
This new visa would allow expats to stay for ten years before needing a renewal, even if the applicant has never had a Thai visa before. However, the visa holder may be required to check in at an immigration office every ninety days, as is required with the current one year visa.
10-Year Thailand Retirement Visa Requirements
While plans for this new visa are still in the works and details have yet to be finalised, it is believed that only natives of certain countries will be eligible for the 10-year visa. The list of eligible nations is likely to include France, Germany, the United States, the United Kingdom, Italy, the Netherlands, Norway, Sweden, Switzerland, China, India, and Taiwan.
While affordable condos in Bangkok and elsewhere in Thailand are popular with people of all income levels, this particular visa is only available to those with a monthly income of at least 100,000baht ($2,800). Applicants may also be eligible if they have 3 million baht ($85,000) in their bank accounts. No matter which requirement they fulfil, applicants will have to provide proof of their income or bank account totals.
Who Can Benefit From This Visa Option?
This new visa option is meant to be an option for those looking to move to Thailand to take advantage of the nation’s great healthcare options. Thailand, and Bangkok in particular, is known for its world class private and public hospitals and skilled doctors. Retirees with medical problems looking for great care options might consider Thailand, and would benefit from this long term visa.
As the visa is meant for those seeking medical care, applicants must also prove that they have insurance that covers hospitals stays. Their coverage must also provide a minimum of at least $10,000 USD annually.
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