New Thai Elite Visa Programme DOES target retirees BUT . . .

[PeterRS]

We have known for weeks that the Thai Elite Visa programme is being revamped. Folllowing the company's embarrassing climbdown mid-month over its cancellation of certain longer term benefits for existing basic 5-year Elite card holders, the new rebranded programme has been been launched. The eight different types of visa have been reduced to four and allegedly the benefits are more simple and easy to understand. That may well be the case, but it all comes at a massive increase in cost. 

According to the blurb, the company has four main targets - frequent international visitors, Investors and Digital Nomads, Expats and Retirees. That is the first time I have noticed that retirees are a target market. The pricing of the new programmes is -

5 year GOLD visa: 900,000 baht - an increase from the existing 600,000

10 year PLATINUM VISA: 1,500,000 baht

15 year DIAMOND VISA: 2,000,000 baht

20 years or more RESERVE visa: 5,000,00 baht (by invitation only and reserved for 100 members per year)

If anyone is thinking of applying for the existing Elite programmes, you should act now as you only have until September 15. The basic visa for 600,000 will give you the option of upgrading up to 15 more years at 400,000 baht provided you renew and pay prior to three months of expiry. Or you can immediately purchase 20 years for 1 million baht. There is presently no indication that any form of upgrading will be permitted under the new programmes. Wait till the 15th and you will only get 15 years for 2 million baht!

I suppose the question all retirees and potential retirees have to ask is: am I better with the existing 65,000 monthly inward remittance/deposit of 800,000 reducing to 400,000 annually held untouched in a savings account route? Unquestionably the answer is yes. At least with the deposit route, you/your dependents get the money back on permanent departure from Thailand or death. On the other hand, for those with a bit of cash to splash, 20 years for 1 million baht cash out can seem worthwhile, if only because it is basically hassle free and is especially useful for those who travel regularly. The allied question, though, has to be: for how long will the annual limits for retirees continue at their present level? If Thailand Elite has raised its fees by between 50% and well over 100% and retirees are included in the target market, will be existing annual limits for retirees also be due for an increase - perhaps sooner rather than later?

https://www.asiaone.com/business/thailand-privilege-card-marks-20th-anniversary-grand-revamp-unveils-new-brand-logo

[floridarob]

Such crazy requirements, the Top reason I didn't pick Thailand over Mexico.

Someone here said, if you live in Thailand...you can't look forward to visiting Thailand, I agree with that sentiment, lol

[TMax]

Doesn't appear to be as savage as first predicted but still a kick in the nuts for those that may have been planning signing up in a year or more, I bet the privileges will be pared back a bit too. The Philippines SRRV is starting to look a lot better and easier, with just a short flight to various destinations it's starting to look much better.

[Boy69]

25 minutes ago, floridarob said:

Such crazy requirements, the Top reason I didn't pick Thailand over Mexico.

Someone here said, if you live in Thailand...you can't look forward to visiting Thailand, I agree with that sentiment, lol

Is it much easier in Mexico? What is the requirements there for long stay ?

[Gaybutton]

4 hours ago, PeterRS said:

will be existing annual limits for retirees also be due for an increase - perhaps sooner rather than later?

I'll worry about that if and when it happens - and if those already retired in Thailand for x number of years would have to face increases too.

From among all the advice I've ever received, the one I like best is "Don't worry until you have something to worry about."  So far nothing to worry about.

[Olddaddy]

3 hours ago, Gaybutton said:

I'll worry about that if and when it happens - and if those already retired in Thailand for x number of years would have to face increases too.

From among all the advice I've ever received, the one I like best is "Don't worry until you have something to worry about."  So far nothing to worry about.

I guess at your age with   8- 10 years left it's not worth it your right 👍

[floridarob]

9 hours ago, Boy69 said:

Is it much easier in Mexico? What is the requirements there for long stay ?

For residency is an income or savings requirement, it's increased over the years and if you get temp residency it can be renewed for 3 yrs after your initial year then after 4 yrs convert to permanent. If you can qualify for permanent right away, that's the best option. Once you get residency the only requirement is to notify of change of address, that's it. Then after 5 yrs you can apply for citizenship, after age 60 is only an oral interview I think, no test.

 

Temporary Residency

• Monthly income of at least c.US$3,275 over the last 6 months (some consulates request 12 months); OR
• Savings/investments account balance(s) of at least c.US$54,600 over the last 12 months; OR
• You can also apply for Temporary Residency based on the value of a house you own in Mexico, or if you make a capital investment in Mexico. See the section below for more details.

Permanent Residency

• Monthly income of at least c.US$5,460 over the last 6 months (some consulates request 12 months); OR
• Savings/investments account balance(s) of at least c.US$218,000 over the last 12 months.

[vinapu]

10 hours ago, floridarob said:

Someone here said, if you live in Thailand...you can't look forward to visiting Thailand, I agree with that sentiment, lol

+1

[vinapu]

4 hours ago, Olddaddy said:

I guess at your age with   8- 10 years left it's not worth it your right 👍

that was not nice

[scott456]

I have probably 20+ years to live, but it's still not worth it. I'd rather being a tourist. 

[Olddaddy]

 

5 hours ago, vinapu said:

that was not nice

It didn't mean to come out that way ,my apologies 🙏

I mean being a realist and 60yo I'm probably not going to be here in 30 years , that's the way it is ,

Sad fact of life but most of us will go between 80-85 .

I hope that doesn't upset anyone

 

 

[Gaybutton]

6 hours ago, vinapu said:

that was not nice

I suggest doing what I do.  No communication or responses of any kind to this proven troll.  Let him say what he wants.  That's how trolls like that get their jollies for lack of anything better to do, but don't respond in any way, shape, or form.  They thrive on getting responses.  Sooner or later he'll get bored talking to himself and disappear - if he doesn't get himself banned first.

 

[vinapu]

Don't be too harsh, he apologized above.

[floridarob]

8 hours ago, Olddaddy said:

Sad fact of life but most of us will go between 80-85 .

I know I'm going before that, and even though I'm not a betting man, so are you.

[scott456]

1 hour ago, floridarob said:

I know I'm going before that, and even though I'm not a betting man, so are you.

You don't know.

[Olddaddy]

5 hours ago, floridarob said:

I know I'm going before that, and even though I'm not a betting man, so are you.

Probably, good chance I won't  ,even though I lift weights everyday sometimes twice a day ,and I really hit it hard doubt it's good for my health actually to push weights hard at my age but I do it more for mental health ,sometimes I lift for more than 2 hours at a time ,just put my headphones on and lift 

My blood pressure is also high, probably caused by the testereone injection I take monthly  ,yesterday 158/17..had to restart blood pressure medication again , my weight 108kg , stay off salt said the doctor ,it's the salt he said ,salt?

Could be anything that can cause high blood pressure in reality 

I'm back on 5mg Amlodipine a day ,see if lowers it 

although he did make acomment that 17 reading is good? But not the 158

This is why it's important to try to do things like travel more etc instead of trying to hoard more money away . If your getting on in years it's no use hoarding your money away  giving it away to nephews you never see much when you depart 

 

[vinapu]

4 hours ago, Olddaddy said:

This is why it's important to try to do things like travel more etc instead of trying to hoard more money away . If your getting on in years it's no use hoarding your money away  giving it away to nephews you never see much when you depart 

 

while I agree with your sentiment I'd not advocate spending everything as soon as we can.

If you are getting on with years you may need money for nurse to hose you down , even with cold water , at least once a week .

Every Saturday morning I do community service in form of going to laundry room on my floor and securing door so they won't close. One of my neighbours is so frail that opening that door is just too much for her.  

[scott456]

18 hours ago, vinapu said:

while I agree with your sentiment I'd not advocate spending everything as soon as we can.

If you are getting on with years you may need money for nurse to hose you down , even with cold water , at least once a week .

Every Saturday morning I do community service in form of going to laundry room on my floor and securing door so they won't close. One of my neighbours is so frail that opening that door is just too much for her.  

How much money should I save up to pay someone to clean my body and maybe give me some food?  I know I will refuse any feeding tube, urine bag or breathing tube.

[reader]

40 minutes ago, scott456 said:

How much money should I save up to pay someone to clean my body and maybe give me some food? 

Just  ask yourself how much you'd charge to provide the same service to others.

[reader]

On 8/31/2023 at 5:08 PM, Olddaddy said:

Sad fact of life but most of us will go between 80-85 .

Don't put all your faith in statistics. The world's best money managers (Warren Buffett and Charlie Munger) have a combined age of 193 and are still working.

If you focus less on when you'll die you'll have more time time focus on how you live. 🙂

 

[vinapu]

2 hours ago, reader said:

 The world's best money managers (Warren Buffett and Charlie Munger) have a combined age of 193 and are still working.

 

I hope they don't drive though. Yesterday I was almost run over in pure view of my balcony by guy with whiter hair than mine taking right turn on red light.

Nice exchange followed " sorry man", "thank you for not killing me", old school I guess.

[scott456]

23 hours ago, scott456 said:

How much money should I save up to pay someone to clean my body and maybe give me some food?  I know I will refuse any feeding tube, urine bag or breathing tube.

The good thing is, most western countries have social welfare systems that take care of the poor.  I would rather live poor in my last few years and die than regretting not enjoy my money while I still can.

[Olddaddy]

What's the USA social security like , I think 62yo they get there ?

Unlike us in Australia 

[vinapu]

3 hours ago, scott456 said:

  I would rather live poor in my last few years and die than regretting not enjoy my money while I still can.

full agreement here, it's why I was in Thailand three times this year and floridarob suspects I  may go once more.

Inevitable at one point of our lives  long range travel will become to tedious to undertake, I'm already suicidal after sitting 10 hours on the plane.

[10tazione]

2 hours ago, vinapu said:

floridarob suspects I  may go once more.

He is not the only one who suspects that!