New Retirement Visa In The Works For Thailand
With Thailand continuing to be one of the most popular places for expats to retire to, the government is working on revamping the retirement visa to make it easier for those over the age of 50 to stay in the company. A new ten-year visa will likely be introduced to those meeting certain requirements, local media is reporting.
The new ten-year visa would replace the one-year renewable visas that most retirees currently use to stay in Thailand. Government spokesman Athisit Chainuwat announced that the new visa scheme has been proposed to the cabinet, but when and if it will be approved remains to be seen.
There will be a number of minimum criteria set that applicants must meet in order to obtain the visa. Those applying would either need a monthly salary of THB100,000 or have at least THB3 million in a bank account that remains deposited within the first year of being granted the visa. Additionally, those who apply for the new visa must be insured with a medical policy that allows for hospital stays and provides a minimum amount of annual coverage.
A majority of long-stay retirees living in Thailand are outside of Bangkok. Cities such as Chiang Rai, Chiang Mai, Hua Hin and Pattaya are among the most popular with those looking to retire in the country.
In a separate move, the government revealed that it was also waiving visa fees for tourists from 19 countries from 1st December 1 to 28th February as it looks to increase tourism during the busy season. Normally guests from those countries would have to pay a THB1,000 visa fee when they apply for a visa at a Thai embassy or consular office. Saudi Arabia, Taiwan, Ukraine and India are among the countries that will have visa waived during the three months.
Source: http://www.ddproperty.com/ 
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