The Thai government has recently approved the extension of long-stay visas for foreigners 50+ years old in Thailand. The approval means visas can be valid for 10 years, instead of one year.
GOV’T APPROVES 10-YEAR VISAS FOR FOREIGNERS OVER 50
The new Thailand-Ten-Year-Retirement-Visa will cost 10,000 Baht ($280) and foreign senior tourists must be 50 years old or older in order to be eligible. They are required to obtain the non-immigrant long stay visa beforehand, and also meet certain financial criteria. It is understood that the existing retirement visa will remain available, for those that are unable to meet the criteria of the enhanced ten-year-visa.
So, what’s the catch?
This is big news for retirees in Thailand looking to spend a long time in Thailand. The Ministry of Public Health reported to the cabinet on the 22nd November 2016 that the number of foreigners looking to stay and retire in Thailand is on the rise. Main areas of popularity are Chiang Mai, Bangkok, Chon Buri, and other popular resorts close to the seaside.
Keen to capitalise on this increase of wealthy foreigners staying in Thailand, the Thai government has approved this incentive – but it’s not for everyone.
To qualify for the new Thailand-Ten-Year-Retirement-Visa, applicants must have a monthly income of at least 100,000 baht ($2800) or a bank account with three million baht deposited ($84,000). If the latter, this must be maintained as available funds for at least one year after the granting of the Thailand-Ten-Year Retirement Visa.
The Thailand-Ten-Year-Retirement-Visa will be available for visitors from the following countries: Australia, Canada, Denmark, Germany, Finland, France, Italy, Japan, Netherlands, Norway, Sweden, Switzerland and the United Kingdom.
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