Volume 17, Issue 05
16 - 30 November 2017
30 BAHT
Retirement visa options
Given the complexity of Thailand’s various long-term visa rules, Pattaya Today has spoken to 20 local expats (aged over 50) about the various alternatives currently on offer. The research did not consider aliens with work permits nor those with permanent residency rights. The three main alternatives are the traditional one year extension of stay, commonly known as the retirement visa, the new 10 year visa announced earlier this year and the various options available under the Elite card initiative. There is also the annual extension of stay based on a foreigner’s marriage to a Thai national. Far and away the most popular option is the annual extension of stay for retirees which requires income or bank balances of at least 800,000
baht. Bill, a 62 year old Brit, said he had looked at all the options. “I found the new 10 year retirement visa required a lot of complex paperwork including police clearance from the UK and possession of comprehensive Thai medical insurance.” He said he had limited medical cover from a UK company but had been told foreign-based policies were ineligible. However, not everyone agreed. Bob, an American expat, said he had applied for the 10 year visa – in fact two chunks of five years – because his American wife and children could share the advantages of long-stay in Thailand. “We all feel much more secure with a visa option which does not require annual renewal,” he said. “My wife and I previously held the one
year retirement option, but found that we each had to have 800,000 baht in a Thai bank. The bureaucracy was actually more hassle than the new 10 year path.” The Elite card also has its champions. This requires a one-off payment of between 500,000 baht and two million baht for residency rights from five to 20 years. Jacques, a 55-year old French citizen, said he had paid 500,000 baht for the “baby” Elite card which allowed him a five years’ stay but renewable annually. “I do not have to do 90 days reporting in person as Elite sees to that,” he said, “and I don’t have to stand in long lines at the airport immigration.” Other advantages were discounts on spas and golf courses and no need for the c u m b e r s o m e p a p e r w o rk
associated with one year extensions of stay. Introduced in 2003, the Elite card is now a privatized company owned by the Thai tourist authority with the aim of earning revenue from highend visitors and investors. It currently has 4,300 members with most members coming from UK, China and several Asean countries. There are now various options and pricing structures which allow for family membership in the scheme. Critics of the Elite card complain about the cost and the fact that the advantages can be nebulous. For example, the discounts at sports facilities and various retail outlets are not restricted to Elite card holders. A half-promise in 2003 that the Elite card might
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