Thread: Cheapest Health Insurance for Retirement Visa

Originally Posted by Storekeeper

I had the marriage when I lived in Thailand from 2007-2010. Yep, it was 400K.

Now on the O retirement visa this time with the 800K and no insurance.

Part of the reason I just don’t go to deep in explaining this stuff is because I still don’t fully understand the “seasoning” part of the equation. Especially for those who want to use their monthly pensions for the 40K/65K. Kinda understand but just not knowledgeable enough to explain it. And then there are those who want to use a combination of the 400K/800K combined with their 40K/65K monthly pensions. Sounds like a pain in the arse and just easier to deposit the 400K/800K and not let the balance go below that.

Anyway, all I know is I flew in back in October 2022 on the 60 day tourist visa. Chilled out for a week and then found an agent for 30,000 baht. The agent magically made 800K appear in my account and then immediately it disappeared and somehow the agent used this to get me the 90 day O visa and 12 month extension … 15 months. My renewal month is January 2024.

Just a point, and maybe your agent knows a way around this, but for an O visa extension using the 800k/bank option, from the date of the extension the bank balance must remain at 800k (or higher) for a minimum of 3 months. It can then drop to a minimum of 400k for 6 months, then back to 800k 3 months before the next extension. I know that you said you'll just maintain a minimum of 800k all year, but some reading this may not be aware of these year round minimums. Again, this is applicable for retirement extensions only. For Marriage, you can withdraw all your money from the bank immediately after getting the extension, then return to 400k two months before the next extension.

Originally Posted by aging one

I have the O like Norts, it must have 800,000 baht in it. The Marriage visa requires 400,000

Correct bro.

When you get your visa from Penang, the 400k can go in the same day you leave Thailand then withdrawn as soon as you've got your bank statement.

^^^While what you're saying is 100% correct, the whole seasoning thing does not apply to those using some agencies. For starters, when they're putting the 800k into a customer's bank account the day of the application and taking it out the moment the visa is issued, Immigration can obviously see what's happened in the bank book that needs to be submitted. Keeping minimum balances throughout the year and having to prove what the balances are/were to Immigration sometime after the visa is issued (three or four months?) is something that doesn't need to be done when using some agencies either. This is through agencies in Pattaya though, whatever procedures are worked out between IO's and agencies in other parts of Thailand may be different.

Originally Posted by Storekeeper

to start off right from jump street using the monthly income method is more complicated and sounds almost impossible since you have to show 12 consecutive months of deposits from what I understand

Yes. First one use 800k baht. You can switch to the monthly when you do your renewal but frankly requires more documents. Letter from bank showing 65k+ per month for 12 months.

Up until four years ago, a reasonable alternative for many to depositing 800k in a bank account on a permanent basis in order to qualify for a retiree extension was the declaration signed by your embassy confirming you were in receipt of an annual pension or other verifiable income in excess of 800k or its equivalent of 65k per month. Sadly for many, the US, UK, and Aus embassies ceased offering such letters and this screwed up hundreds of retirees, probably more so for Brits, who used the combination method of qualification involving a transfer to a Thai deposit account augmenting pension incomes falling below the 800k mark.
I think the Danish did the same too but who gives a fuck about them.

Originally Posted by Headworx

^^^While what you're saying is 100% correct, the whole seasoning thing does not apply to those using some agencies. For starters, when they're putting the 800k into a customer's bank account the day of the application and taking it out the moment the visa is issued, Immigration can obviously see what's happened in the bank book that needs to be submitted. Keeping minimum balances throughout the year and having to prove what the balances are/were to Immigration sometime after the visa is issued (three or four months?) is something that doesn't need to be done when using some agencies either. This is through agencies in Pattaya though, whatever procedures are worked out between IO's and agencies in other parts of Thailand may be different.

The law states that the 800k must be seasoned for three months before and after the date of application and must not fall below 400k for the remainder of the year. Failure to observe these requirements is a breach of the regulations but can be circumvented by a consideration paid to the immigration office. This is bribery. Those who do not maintain balances for the prescribed periods are vulnerable to enforcement action.
Incidentally, I handled my own application recently for my annual retirement extension at Chonburi. Retirees get preferential service, and obtain a queue number for the retirement desk immediately on production of a completed app form and supporting dox. There is no waiting outside in the general Q. I took a seat inside and waited for about 20 minutes to submit the application which took the officer about five minutes to process and hand me my numbered token to collect my passport duly endorsed the next day.

It cost me 1900 baht.

Originally Posted by Norton

Yes. First one use 800k baht. You can switch to the monthly when you do your renewal but frankly requires more documents. Letter from bank showing 65k+ per month for 12 months.

Can’t remember how old you are Norts but my plan is to switch to the 10 year LTR visa (Cat 2 Pensioner) when I turn 65. Depending on your age it might not be worth the trouble switching.

Somebody in the forum made me aware of it recently and to me it looks like a sweet 10 year period of not having to deal with any immigration bollocks at all.

Originally Posted by Storekeeper

Somebody in the forum made me aware of it recently and to me it looks like a sweet 10 year period of not having to deal with any immigration bollocks at all.

But don't you have to cough a big wad of cash? They always try to sell me that elite visa program at immigration which I politely decline. I like my annual visa extension process. Takes a few hours and done. I am not locking up any big money to stay here. Like the option of packing up camp and leaving without trying to figure out how to get my money back.

I think SK. must be confused.
That LTR is aimed at high net worth chaps earning a minima of $80,000 per annum failing which he would be required to buy $250,000 worth of Thai govt bonds and to take out medical insurance which for over 65s is expensive and difficult to get. Also, it isn’t for ten years, it’s for five years extendable to ten on application…….rules change in Thailand……

Originally Posted by Stumpy

But don't you have to cough a big wad of cash? They always try to sell me that elite visa program at immigration which I politely decline. I like my annual visa extension process. Takes a few hours and done. I am not locking up any big money to stay here. Like the option of packing up camp and leaving without trying to figure out how to get my money back.

I don’t remember what the cost is but it’s not part of the Elite Visa program. Saw one of the YouTubers in Pattaya got it, a retired cop, and I think he might have said it cost him about $1600.

Originally Posted by Storekeeper

Can’t remember how old you are Norts but my plan is to switch to the 10 year LTR visa (Cat 2 Pensioner) when I turn 65. Depending on your age it might not be worth the trouble switching.

Somebody in the forum made me aware of it recently and to me it looks like a sweet 10 year period of not having to deal with any immigration bollocks at all.

This is the criteria for 'Wealthy Pensioner LTR":

RETIREES AGED 50 YEARS AND OLDER WHO HAVE AN ANNUAL PENSION OR STABLE PASSIVE INCOME

• Personal income of at least USD 80,000/year at the time of application

• In case of personal income below USD 80,000/year but no less than USD 40,000/year, applicants must invest at least USD 250,000 in Thai government bonds, foreign direct investment, or Thai property

• Health insurance with at least USD 50,000 coverage or social security benefits insuring treatment in Thailand or at least USD 100,000 deposit

• Personal income under LTR : Wealthy Pensioners’ definition is “unearned income such as a pension, rental, stock/share, dividend, etc”. Earned income (salary) will not be considered eligible income for LTR: Wealthy Pensioners application.

Originally Posted by Seekingasylum

The law states...

Originally Posted by Seekingasylum

This is bribery...

Originally Posted by Seekingasylum

...vulnerable to enforcement action.

Are you new to Thailand?

Originally Posted by Storekeeper

I don’t remember what the cost is but it’s not part of the Elite Visa program. Saw one of the YouTubers in Pattaya got it, a retired cop, and I think he might have said it cost him about $1600.

Applying for an LTR within Thailand the cost is 50,000 baht, so that's 5k/year though an LTR is inclusive of multi re-entry, so roughly the same as an annual extension fee plus one year multi re-entry.

You stupid fuck, Headfuck, several hundred chancers played that game over 20 years ago ( it’s Thailand, it doesn’t matter, everyone does it ) and all got deported or invited to fuck off without the option.

You get caught out, you pay. Over a hundred immigration officers and three generals have been nicked for the Chink visa scam, ED. visa applications are in the spotlight and dozy retirees going down the bribery route are next in line.

Sweating are you, Headfuck?

Originally Posted by Seekingasylum

I think SK. must be confused.
That LTR is aimed at high net worth chaps earning a minima of $80,000 per annum failing which he would be required to buy $250,000 worth of Thai govt bonds and to take out medical insurance which for over 65s is expensive and difficult to get. Also, it isn’t for ten years, it’s for five years extendable to ten on application…….rules change in Thailand……

This link is the program I’m talking about. Will keep looking but haven’t seen anything that reduced it from 10 to 5 years.

Thailand Long-Term Resident (LTR) Visa | ThaiEmbassy.com

Edit … regarding the OP I think I also saw something that a person issued this visa can also bring in up to 4 dependents. So that would cover his spouse as well.

Originally Posted by PAG

Applying for an LTR within Thailand the cost is 50,000 baht, so that's 5k/year though an LTR is inclusive of multi re-entry, so roughly the same as an annual extension fee plus one year multi re-entry.

,

So, the initial fee of 50,000 baht not only covers the first five year application but also the renewal for the second five years?

Originally Posted by Seekingasylum

,

So, the initial fee of 50,000 baht not only covers the first five year application but also the renewal for the second five years?

I'm not reading anything about a 5 +5 arrangement, solely a 10 year visa. Guess only that it has to be transferred to an inevitable new passport when required. Reporting is once a year, rather than 90 days. Curiousity brought me here:

LTR Visa Thailand

The LTR visa is expensive if you do the math. Especially what you have to pony up to Thai bonds and banks. In the big picture it is absolutely not worth it, just from the financial outlay POV. I love the banner at immigration showing a westerner in a golf cart being carted around. Laughable in many regards.

In the end you get no special treatment. They sell you do but I have many business colleagues that live and work here that have not and will not apply.

IMHO stick with the annual visa renewal and keep it simple. If you don't want to deal with immigration just go the agent route. Always keep in mind the more money you tie up here is not easy to get back or transferred back to your home country's acct. It's extremely complicated for US folks not only from proving how it got here but then potential tax implications.

Originally Posted by Seekingasylum

Sweating are you, Headfuck?

Yeah, absolutely shitting myself to be honest knowing stainless steel bracelets and the minkey house can't be far away now

Originally Posted by Stumpy

IMHO stick with the annual visa renewal and keep it simple. If you don't want to deal with immigration just go the agent route.

Nail ==》Head.

Originally Posted by Headworx

Nail ==》Head.

The way I read the LTR based on the link I provided my cost will be 50,000 baht … one time:

Thailand Long-Term Resident (LTR) Visa | ThaiEmbassy.com

That’s it … provide proof of the $80K annual income at time of application. And provide proof of $50K in insurance … or, proof of $100K in a Thai or overseas bank account for no less than 12 months prior to application.

Using an agent annually will cost me baht 12K using my own 800K or 30K annually using the agent provided 800K.