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News Forum - 10-year visa gets approval of Cabinet, Ministries preparing rules


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The Cabinet in Thailand just approved the creation of a 10-year visa for wealthy foreigners or digital nomads, the target demographic the government has focused on as the solution to the lack of tourism due to Covid-19. They have reckoned that a few high-quality (read: “big spending”) tourists could outweigh scores of the undesirable budget-conscious tourists that flocked to Thailand before the Covid-19 pandemic. A government spokesperson announced today that the Ministry of Labour and the Ministry of the Interior are already working on drafting the regulations for a long-term visa for highly skilled digital nomads and rich expats to […]

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Blah blah, waffle waffle, here we go again, another plan with so many rules and requirements that will be unworkable. 555

TIT.

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Is it really a 10 year VISA? So you qualify one time and you're good to go for 10 years? Or is it like the Elite VISA you still have to get 5 year and then annual approvals or something like that? And what about the already existing O-X 10 year VISA, the O-X seems to be a lot less requirement intensive. Does this new 10 year VISA require a 250,000 dollar bond commitment? If I've got that kind of capital, am I really going to lock up that kind of money for 10 years?

Edited by Freeduhdumb
Grammar correction additional content.
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Just now, Freeduhdumb said:

Is it really a 10 year VISA? So you qualify one time and you're good to go for 10 years? Or is it like the Elite VISA you still have to get 5 year and then annual approvals or something like that? 

Yep. In theory, it's a 10-year visa. 

Still required to jump through the usual hoops annually/semi-annually. 

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8 minutes ago, Rain said:

Yep. In theory, it's a 10-year visa. 

Still required to jump through the usual hoops annually/semi-annually. 

Oops. I didn't get my edit in fast enough. And yeah, that is what I thought. check out my edit, doesn't seem to be a laudable VISA. 

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this would be great if they dont gum it up with a ton of restrictions.   i'd be very open to applying for this if only not to need to drag my wife to the immigration office each time with that giant stack of papers.  

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You know I think this could be a winner. 

I was just thinking "Where on earth could I spend some of my millions of pounds on creating a holiday or indeed permanent residence for myself"?

Now I toyed with the Bahamas. Thought about the Seychelles. Hmmm what about the Virgin Islands. None of them really gives me what I want because the general populations of all those destinations can speak English. No what I want is to invest millions in a place where I cant understand them and they cant understand me.

Then there is the issue of governments. What I want is regular military coups and a shedload of corruption at even the lowest levels of society. Indeed I want to move to a country which blames me specifically for the spread of viruses.

Paying a huge amount of money into getting somewhere to live where I cant own the land or indeed the house I built on it is extremely appealing to me. I want to run the risk of losing everything as soon as a Thai person decides its time for that to happen.

Of course I can own a condo in a shoddily built Highrise tower but only if its on a floor above the maximum reach of a fire ladder. If the lift breaks down I will have that exciting feeling of being trapped on the far side of the moon. Also I want to have absolutely no say whatsoever in how the condo building is run and if my neighbor wants to eat fermented fish on the balcony next door its just a bonus for me.  

I really dont understand why anyone would hesitate. 

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and another try to seduce earth-s-beings, to take their energy.

world is world, not eart-h ( h-eart  ) what
gives daily, much energy by, e-motion = e-nergy motion.

so, at least most people in world, must be, emotionally im-mature =
waste energy by, not using it or using it for distraction = often sick or weak.

so, natural growing up = becoming self-responsible, for using e-motions
with wisdom, was and will, never be wanted by energised world-deciders.

Edited by think-and-ask
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2 hours ago, Rookiescot said:

You know I think this could be a winner. 

...

Yet you're still here 🤣

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2 hours ago, MrNovax said:

this would be great if they dont gum it up with a ton of restrictions.   i'd be very open to applying for this if only not to need to drag my wife to the immigration office each time with that giant stack of papers.  

I retired here nearly 30 years ago, in my mid 30's, so this would have suited me but very, very few people are in the same position I was.

For anyone who's working, or married to a Thai, or over 50, I just can't see the point.

Why?

To save doing three 90 day reports a year that you can do via the Post Office or on-line?

... and I wouldn't be happy if I'd paid for an Elite Visa and they're getting a better deal for a fraction of the price .....

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23 minutes ago, Stonker said:

I retired here nearly 30 years ago, in my mid 30's, so this would have suited me but very, very few people are in the same position I was.

For anyone who's working, or married to a Thai, or over 50, I just can't see the point.

Why?

To save doing three 90 day reports a year that you can do via the Post Office or on-line?

... and I wouldn't be happy if I'd paid for an Elite Visa and they're getting a better deal for a fraction of the price .....

It's still expensive, by comparison

 

My wife's 10yr US visa is 5200 baht total

 

 

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Nomad is a nice stepping stone to the retirement visa. Get settled while continuing to earn money for 5-10 years is a sweet spot for those in the 45-60 range. 
Waiting if this will actually happen. Sitting in my condo in Phuket working with my western salary instead of my basement with 3 feet of snow is appealing 

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1 hour ago, Marc26 said:

It's still expensive, by comparison

My wife's 10yr US visa is 5200 baht total

I'm not sure why you're quoting me 😕 ?

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1 hour ago, Marc26 said:

It's still expensive, by comparison

My wife's 10yr US visa is 5200 baht total

But how much tax does your wife pay in the US?

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1 minute ago, ctxa said:

But how much tax does your wife pay in the US?

Nothing, she doesn't live there

 

She pays barely any tax in Canada given her job as a waitress 

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Just now, Marc26 said:

Nothing, she doesn't live there

She pays barely any tax in Canada given her job as a waitress 

Well, okay. But you get my point. If she lived in the US she would have to pay tax even on her foreign income... That's when it becomes much much more expensive than Thailand's visas...

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6 hours ago, Freeduhdumb said:

Is it really a 10 year VISA? So you qualify one time and you're good to go for 10 years? Or is it like the Elite VISA you still have to get 5 year and then annual approvals or something like that? And what about the already existing O-X 10 year VISA, the O-X seems to be a lot less requirement intensive. Does this new 10 year VISA require a 250,000 dollar bond commitment? If I've got that kind of capital, am I really going to lock up that kind of money for 10 years?

Just sounds like a more expensive visa with slightly less hassle than existing visas.  So it's like one of those exclusive sounding credit cards with high fees that makes people feel more special.

Edited by samiam123
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35 minutes ago, samiam123 said:

Just sounds like a more expensive visa with slightly less hassle than existing visas.  So it's like one of those exclusive sounding credit cards with high fees that makes people feel more special.

Nice analogy. I would add, not just high fees, without the actual tangible exclusive benefits, but a 1/4 or 1/2 of a million dollar secured credit card benefiting the card issuer only (I've heard differing amounts to meet requirements). People who have money don't operate this way. Lol. I'll take my $250,000.00 or $500,000.00 which ever the requirement is, and invest it in even a modest 4-5-6% investment scheme, not a scheme to simply allow me to rent some land or condo for 10 years. The entire prospect is ludicrous. 

250,000.00 invested with a modest rate of return of 6% over 20 years yields 800,000. I think I will instead purchase a 20 year elite visa for $30,000 and profit $770,000 Lol. 

Edited by Freeduhdumb
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I remember seeing a video of a real estate agent in the know who said they were going to have this done soon and people were saying they've been saying it for years and it wouldn't happen

Would be quite interesting to see all the requirements, 10,000 baht a year is reasonable compared to the elite visa. 

 

4 hours ago, Marc26 said:

It's still expensive, by comparison

My wife's 10yr US visa is 5200 baht total

How much money do you save living in the US though?

I could probably save tens of thousands of dollars a year living in Bangkok versus Toronto, so a 10,000 baht/year fee isn't too much.

The current visa I have (covid visa extension) is 1900 baht every 2 months, 11,400 baht a year and people are happy paying 

 

Edited by dj230
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1 minute ago, dj230 said:

I remember seeing a video of a real estate agent in the know who said they were going to have this done soon and people were saying they've been saying it for years and it wouldn't happen

Would be quite interesting to see all the requirements, 10,000 baht a year is reasonable compared to the elite visa. 

 

"‘Rich’ global citizens would need to be able to prove income of at least $80,000 over the last two years and have $1 million in assets. They would also need to be able to invest at least 16 million baht in property or government bonds.

The ‘wealthy’ retirees are defined as those who are aged 50 or over and who can invest 8 million baht in property or government baht, while also being able to show a minimum annual income of $40,000.

The digital nomads would need to be earning $80,000 for the last two years or $40,000 a year and would be self employed or employed by a company overseas but which are able to use Thailand as a location to work from."

https://www.huahintoday.com/thailand-news/thailand-proposes-10-year-visas-and-land-ownership-for-foreigners-again/

 

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5 minutes ago, dj230 said:

I remember seeing a video of a real estate agent in the know who said they were going to have this done soon and people were saying they've been saying it for years and it wouldn't happen

Would be quite interesting to see all the requirements, 10,000 baht a year is reasonable compared to the elite visa. 

How much money do you save living in the US though?

I could probably save tens of thousands of dollars a year living in Bangkok versus Toronto, so a 10,000 baht/year fee isn't too much.

The current visa (covid visa extension) is 1900 baht every 2 months, 11,400 baht a year and people are happy paying 

Agree, if you qualify this seems better than elite visa. 

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44 minutes ago, dj230 said:

I remember seeing a video of a real estate agent in the know who said they were going to have this done soon and people were saying they've been saying it for years and it wouldn't happen

Would be quite interesting to see all the requirements, 10,000 baht a year is reasonable compared to the elite visa. 

How much money do you save living in the US though?

I could probably save tens of thousands of dollars a year living in Bangkok versus Toronto, so a 10,000 baht/year fee isn't too much.

The current visa I have (covid visa extension) is 1900 baht every 2 months, 11,400 baht a year and people are happy paying 

Depends on your lifestyle

 

Most people "downsize" when moving to Thailand 

 

If you a higher end lifestyle, Thailand is or can be just as expensive as anywhere else.

 

Accomodation. If you were to purchase an apartment in downtown Toronto in a new building, that same exact apartment with just as quality of a build, just as high end fixtures, would cost as much or more in Bangkok 

 

Dining out. We don't go out nearly as much as we used to. But we enjoy dinners at high end restaurants.

High end restaurants are as expensive or more expensive in Thailand 

 

Wines, luxury cars way more expensive in Thailand 

 

So it really depends on your lifestyle 

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55 minutes ago, Marc26 said:

Depends on your lifestyle

Most people "downsize" when moving to Thailand 

If you a higher end lifestyle, Thailand is or can be just as expensive as anywhere else.

Accomodation. If you were to purchase an apartment in downtown Toronto in a new building, that same exact apartment with just as quality of a build, just as high end fixtures, would cost as much or more in Bangkok 

Dining out. We don't go out nearly as much as we used to. But we enjoy dinners at high end restaurants.

High end restaurants are as expensive or more expensive in Thailand 

Wines, luxury cars way more expensive in Thailand 

So it really depends on your lifestyle 

I disagree entirely I’m living a way better life in bangkok and I’m paying probably a fourth to a third to the cost as if I was living the same in Toronto 

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1 hour ago, dj230 said:

I disagree entirely I’m living a way better life in bangkok and I’m paying probably a fourth to a third to the cost as if I was living the same in Toronto 

1st off, congrats on enjoying Bangkok

I love Bangkok!

 

 

But what I stated is just facts, not an opinion

 

You go to most higher end restaurants in Bangkok, and it's the same or more expensive as in Canada 

That's just a fact

I'm not talking about casual places(which there are many great ones)

 

But true high end restaurants 

 

Here is an example, but I could pick 100 places 

 

Opus Bangkok a highly rated Italian restaurant 

 

https://www.google.com/search?q=opus+bangkok+menu&client=ms-android-bell-ca-revc&source=android-browser&ei=L63oYaKEOaeT0PEPoNmVUA&oq=opus+bangkok+memj&gs_lcp=ChNtb2JpbGUtZ3dzLXdpei1zZXJwEAEYADIECAAQDTIICAAQCBANEB46BwgAEEcQsAM6DQguEMcBEK8BELADEEM6BwgAELADEEM6BQgAEIAEOgYIABAWEB46BQghEKABSgQIQRgAUJEVWNYaYJcoaAFwAXgAgAHfAYgB3ASSAQUzLjEuMZgBAKABAcgBB8ABAQ&sclient=mobile-gws-wiz-serp#imgrc=Ltogc0FJyJeGdM

 

Menu prices:

20/30cad for pasta

30+ for meat/fish

 

Those are the same prices as Canada

 

Have you ever looked at an apartment in Bangkok in the 15mil baht range?

Do so and compare the fixtures and quality of build to the same priced apartment in Vancouver and Toronto 

There is no comparison 

 

You can live cheaply better in Bangkok than Toronto, I agree 100%

 

But that was not what I was talking about

I was talking about lifestyle and if you enjoy a higher end lifestyle, it isn't that much cheaper or any cheaper than TO/Vancouver 

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