10 Year Thailand Retirement Visa

In an exciting development, the Thai Government have just announced that there will be a new long term retirement visa available to foreigners. The release date is yet to be confirmed, but initial details are as follows;

As with the existing retirement visa, retirees must be 50 years of age or above.

The Visa is for ten years, but must be renewed after five, and there remains a requirement to report to the immigration police department every 90 days.

Financials

To qualify retirees must have either a monthly income of THB10,000 (approx. A$4,000) or THB3,000,000 (approx. A$120,000) deposited into a Thai Bank Account, for the first year.

Healthcare

Eligible applicants must also have health insurance coverage for at least US$1,000 (about THB35,590 / A$1,423) for outpatient care and US$10,000 (about THB 355,900 / A$14,236) or more for inpatient care per policy per year.

Developing Story

At this stage it is unclear whether this new visa will replace the existing retirement visa arrangements, or work in conjunction with the current structure. We’ll certainly keep you updated as further information becomes available.