Transcript of the above video:

As the title of this video suggests, we are discussing newly proposed Long-term Thai visas. We have discussed this previously. They are rolling out these new 10 year long term, they are calling them Residence Visas. As we have discussed in multiple videos, they are not Residence Visas; you are not granted Lawful Permanent Residence in Thailand, it is just a really long visa. 

I was recently reading an article from the Pattaya Mail, that is pattayamail.com. It is a good article. I urge those who are watching this to go check out that article. Retiring to Thailand just got more confusing. Quoting directly: "10 year visa (actually 5x2) and the privilege of avoiding the queues at Immigration for 90-day report," I have discussed this in another video. The 90-day reporting thing, I don't know that that is the case. You would have to amend the Immigration Act in order to get rid of 90-day reporting for Non-Immigrant holders." Quoting further: "Applicants must show an annual income of at least $40,000 plus $250,000 US dollars in Government Bonds or yet to be to be defined real estate purchase." So as noted in this article that is potentially and that seems to be what we are looking at with these new long term visas. Quoting further: "Going back further, the Elite Visa introduced in 2003 and revamped several times in recent years offers multi-entry stays in Thailand for between 5 and 20 years. Cash purchases currently vary from 600,000 Baht to over 2 million Baht. This visa has always been available to retirees as well as an adult from any country worldwide. The total number now around 16,000 individuals with the growth market in China where rich citizens like the flexibility of coming and going. Whilst a Work Permit is technically required for those doing business here, that aspect has been soft pedaled." I would kind of beg to differ there. I have seen people get into real problems on work authorization issues with an Elite Visa not having a Work Permit; it is a problem. Now did all 16,000 people who had an Elite Visa have a problem with a work authorization issue? No, but I have personally seen it and it wasn't pretty. 

The reason for the video is so we are looking at a situation where it is a $40,000 income plus $250,000 invested in Government Bonds or some sort of nebulous real estate purchase as opposed to 600,000 and 2 million Baht depending on how long you want to stay on an Elite Visa in Thailand. The thing to understand with this proposed Long-term Residency, not Residency, but long-term Visa is this is just your income which you need to prove up plus an investment, whereas Elite Visa, you are buying membership. You are paying out money and then you have Visa status as part and parcel of being a member of Thailand Elite. Very different thing. One is an investment requirement, the other is basically a purchase requirement so bear that in mind when doing your analysis on long-term visas as opposed to Thailand Elite status. And also bear in mind, especially for folks over 50, there may be other options far, far less expensive than anything associated with proposed long term status or the Thailand Elite program.