Unanswered4 years ago
What are the current details regarding the rumored 50k a year visa in Thailand?
Don't tell me..... this is 50k a year, right?
Summary so far
The discussion revolves around a rumored visa that could cost 50k a year. There is confusion about its existence, with one commenter clarifying that no such visa is officially available yet and that the details have been debated for several years. Participants express a need for official information and suggest that typically such details are not reliably centralized in Thailand.
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Kool *******
Understand that this visa does not actually exist yet. They've been debating different details for over three years.
London *****
If someone knows where to look up official details please let me know.
Frank-Steven ***********
@London ****
No such thing as official details in Thailand - ever. But at one point (hopefully soon), there will be different versions of details popping up on various channels (like consulates).
E. ******************
Any suggestions who to call to get the facts?
Frank-Steven ***********
@E. *****************
The SMART visa unit of the Board of Ivestment BOI is working on this. Contact them. I did. They are trying to be very helpful, and they fully understand the need for this initiative. But they won't have the last say on it.
Brett **********
think its a 10 year
Roger ********
OPThat bit sounds good, but the conditions are not very clear.
Roger ********
OPThanks. I read that, but it doesn't seem to fit with the news article.
Bobby ********
@Roger *******
Conditions are pretty steepPensioners and wealthy foreigners must have insurance coverage of at least US$50,000, to cover medical fees, which is valid for at least 10 months or a social security certificate covering their medical expenses while in Thailand or a cash deposit of at least US$100,000 in a domestic or a foreign bank account for 12 months before applying for the visa.
High-income earners must have an average annual income of US$80,000 for the two years prior to applying for the visa.
The foreign specialists must produce an employment contract from a business in Thailand or abroad. They are also required to produce evidence that they have worked in the “targeted industries” for at least 5 of the 10 years prior to applying for apply the visa.
William *******
@Bobby *******
Thank you Bobby,I’ll forward it to the Thai Consulate in my country.William *******
@Bobby *******
Can’t find that at my Thai consulate site.William *******
Bobby ********
@William ******
Changed this year. Anyone who is refused health insurance can use assets in their home country in lieu of insuranceWilliam *******
@Bobby *******
As I understand it, an OA visa has required health insurance since late *********
.Bobby ********
@William ******
I only know about the OA visa. This new "wealth" visa I was only quoting from The Thaiger.William *******
@Bobby *******
Thanks for forwarding,but it doesn’t say anything regarding health insurance requirements.Bobby ********
@William ******
***********************************************
William *******
@Bobby *******
My question was regarding your statement regarding bypassing health insurance by having USD 100K in a bank account. I can’t find that option doing some research.Bobby ********
@William ******
The earlier you take it out, the better off you are. I've had health insurance since I was 55 with no pre-existing conditions, so I can just keep renewing until 99 and everything will be covered. The problem is so many retirees in Bangkok go to extremes to avoid health insurance. Makes me ROFLWilliam *******
@Bobby *******
That having a bank account with USD 100K allows one to bypass health insurance as you stated previously.William *******
@Bobby *******
Exactly. If age 75 one has difficulty obtaining insurance.If over 64 many companies refuse health insurance if one has preexisting health conditions.
Bobby ********
@William ******
To state what?William *******
@Bobby *******
Howard,do you have a reference that states this ? Thank you.Bobby ********
@William ******
You can get a health insurance policy up to age 75, which can then be renewed up to age 99. It will only exclude pre-existing conditions.William *******
@Bobby *******
Not useless if it’s true that one can bypass health insurance by only having USD 100K in a bank account. Many cannot even get a USD 10K health policy because of age or preexisting medical conditions.Bobby ********
@Todd ********
This is a useless visa for retirees, and is useless for the average digital nomad. I don't know why some people are getting hard-ons over it.Bobby ********
@William ******
Yes. Same as OA visa. Assets in home country in lieu of health insuranceWilliam *******
@Bobby *******
Please clarify. Are you saying one does not have to have medical insurance if they have USD 100K in a foreign or Thailand bank account or the equivalent in Baht ?
Todd *********
@Bobby *******
even at $80k annually, doesn't really make much sense to pay 50k baht for this as a retiree. Would only cost *****
baht for one year annual renewal. Although it save you 9 immigration visits. Is 90 day reporting still required?
Stuart **********
@Bobby *******
Do you mean AND a cash deposit?Roger ********
OPTBH, I don't understand this
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