NEW THAI RETIREMENT VISA APPROVED

Originally proposed in November 2016, it has just been announced that the Thai Government has formally approved a new 10 year ‘retirement’ visa for foreigners aged over 50 (from 14 selected countries).  The new visa is expected to be available from August 11th and is an exciting development for those planning a long term stay in the ‘Land of Smiles’

 

 

Non O X Visa 

The new Non O X visa will be available to anyone who is over 50 years of age, and who is a citizen (has a passport issued) in one of the 14 ‘selected’ countries listed in the criteria below.

Financial / Insurance requirements

Applicants will need to have a minimum 3 million baht (A$117,000 approx.) in a Thai bank account, or a combination of 1.8 million baht (A$70,000) in the bank and income not less than 1.2 million baht (A$47,000).

The 3 million baht  must be kept in the bank as a deposit for a period of one year but can be reduced to 1.5 million under certain conditions.

Criminal background checks are required on all applicants, who must also have valid medical insurance from a Thai insurance company for the duration of the visa (details in the overview below).

Foreigners are not permitted to work while staying in Thailand on the visa and 90 day reports are still required.

The visa will cost 10,000 baht (A$370 approx.) and will be valid for 5 years, before being renewed for a further 5 years.

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Andrew Leeson, Principal of Retire to Asia, on contacting our friends at the Thai Consulate said it is expected the new Non O X Visa will be available from August 11th, with an official announcement due very soon.  Importantly, the new visa DOES NOT replace the current annual retirement extension.

New ’10 Year’ Visa Overview

  • – Over 50s only
  • – 14 nationalities eligible: Japan, AUSTRALIA, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Switzerland, Sweden, Great Britain and Northern Ireland, Canada and United States of America.
  • – Minimum 3 million baht in Thai bank account
  • – or combination of 1. 8 million in the bank and income not less than 1.2 million
  • – 3 million baht must be kept in account for one year, can be reduced to 1.5 million under certain conditions
  • – Criminal background check from country you hold passport
  • – Health insurance provided by Thai company, Outpatient coverage minimum 40,000 baht, Inpatient coverage not less than 100,000 thousand baht
  • – Not permitted to work
  • – Unlimited entry valid for 5 years
  • – Fee is 10,000 baht
  • – 90 day report still required.
  • – Visa issued in two 5 year periods

 

If you’d like more information or have any questions, please feel free to call 1800-961-377 or email info@retiretoasia.com.au and let the team at Retire to Asia help make your dream lifestyle a reality.

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