New 10 year retirement visa takes effect
The government has announced the implementation of the long – awaited new retirement visa extension for expats in Thailand, initially touted as a ten-year visa it is actually two five year visas back to back. Applicants must be 50 years or older and only nationals from Japan, Australia, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Sweden, Switzerland, United Kingdom, Canada and the United States of America are eligible.
Applicants must have 3 million baht in a Thai bank or a combination of 1.8 million baht in a Thai bank and a pension income of not less than 1.2 million in a one year period. The 3 million baht deposit must be held in a Thai bank for not less than a year, after the one year period the applicant may withdraw up to 1.5 million for uses such as medical treatments, condominium unit purchase, vehicle purchase and child’s tuition fees within the Kingdom of Thailand only. Applicants must submit a criminal background check from their country and must have health insurance provided by a Thai company with outpatient coverage a minimum 40,000 Baht, and inpatient coverage not less than 400,000 Baht.
It is interesting to note that the government order states that a foreigner who wishes to do voluntary or public charity works to support any mission of any government sectors shall be permitted do such work under the provisions of the Foreign Business Act. Permission however the foreigner’s to temporary stay shall be terminated if the foreigner works without having obtained permission.
The visa allows for unlimited entry for 5 years and is issued in two five year periods. The applicant must still report to Immigration every 90 days however. The Immigration fee for the new Non-X visa is 10,000 baht. Sunbelt Asia Legal Advisors confirmed with the Immigration Office in Chaeng Wattana in Bangkok that they are now issuing this new visa. It is important to note that some local Immigration offices may be slower to implement the visa and so it is always best to check first. Sunbelt Asia can assist you with this visa application. Please give us a call at +66 (0)2-642-0214 or email us at [email protected]