Transcript of the above video:

As the title of this video suggests, we are discussing the prospect of a 10-year Visa in Thailand coming soon. There has been a lot out there on the internet about this. I have gotten a lot of correspondence on these topics. This all seems to have stemmed from a recent TAT, that is Tourism Authority of Thailand proposal. Recent article from Thai Visa, that is thaivisa.com, that article is titled: TAT Proposes Attracting a MILLION Foreigners, work with No Work Permit, Right to Buy Land, 10 Year stay. Quoting directly: "Thai Business Media has reported on one of the biggest shake-ups yet to attract foreigners to come and live in Thailand. The proposals given by the Tourism Authority of Thailand, ("proposals" - note that again) during a video conference with Thai Premiere Prayuth Chan-o-cha at Government House yesterday would see four target groups be able to work in Thailand without a Work Permit, pay just 17% tax on local earnings, buy property and land and stay for up to 10 years. The proposals would allow certain well-heeled retirees to actually be able to work legally in Thailand and purchase land. Proposals are now being considered by the Government." 

There is a lot in this article and we are going to put some finer points on this but go ahead and check out that one if you want to learn about these categories. Another article, again from Thai Visa, thaivisa.com, was titled: Working Group to Review Plans to Allow Foreigners in Thailand to Buy Land and Work Without Work Permits. I thought this put a fine point on it. Quoting directly: "All of the above groups, (and they have cited these different groups: wealthy individuals, digital nomads, etc) all of the above groups would be granted a number of benefits from moving to Thailand including Visa validity 10 years, permission to work without a Work Permit, personal income tax charged on income in Thailand at a flat rate of 17% and the right of ownership/long-term lease of real estate including land." As we have discussed in other videos, the Work Permit proposal is not all it is cracked up to be. There seems to be a bond investment requirement most notably of a quarter million US dollars associated with that one. My personal opinion, the land proposal is probably the least likely of all of this. As noted in another video it was noted that would require it basically an act of Parliament to change the law and that is a tall order. To put the finest point on it there was a great article from the Pattaya Mail, that is pattayamail.com, the article is titled: Plans to Lure the Ultra Rich With Relaxed Immigration Rules Still Bogged Down. Quoting directly from that. First off: "But the qualifications are steep: an annual income of at least 40,000 US dollars plus investment Capital e.g. Government bonds to the tune of $250,000." As we noted, you have got this bond requirement. More to the point, I thought that this article and I urge those are watching this video to go check out that article on pattayamail.com so you can read this all in detail. I am just pulling a little excerpt out of this: "Critics argue that the recommendations are too complex to draw traction." and this is key, "There already exists a rarely used 10-year X Visa aimed at retirees and their families." We have done a number of videos on this channel. When this first came out we did videos on the 10-year O-X Visa and talked about that. Quoting further: "Moreover, several rival countries are willing to sell citizenship to investors with several hundred thousand dollars to spend on a second passport. No chance of Thailand following that route." Yes I think that is fair to say. I don't see Thailand doing any second citizenship programs here. 

More to the point, this author points out again this is pattayamail.com: "There already exists a rarely used 10-year X Visa aimed at retirees and their families", and that is true. So, while I do think that this is a laudable proposal and here is another thing. This may not necessarily be aimed at retirees this 10-year Visa, maybe they are aiming it at it younger people but there are other mechanisms for dealing with that without all of this for example the $250,000 Government Bond is a major commitment. An Elite Visa can be gotten for much less than that in terms of real capital and then at the same time standard Retirement Visas can be gotten for much less than that if you are already over 50. But yeah, there is a 10-year Retirement Visa. It already exists; it is not widely used. We have dealt with some folks who have been thinking about getting those. We have looked into it, most of them ended up opting for an Elite Visa instead.

Again, circumstances may warrant, folks may decide "hey this this Government bond program for example may be a good idea for some folks to go ahead and obtain a 10 year Visa. We will certainly keep people updated on this situation as it evolves.