British pound breaches 45 baht barrier
By Barry Kenyon
July 15, 2023
In a wave of enthusiasm not sensed since pre-Brexit days, the British pound is now worth just over 45 baht, an improvement of 4.34 percent since the beginning of the year. The UK currency is also at a 15 month high against the US dollar, having successfully tested the 1.31 US$ bar. By most criteria, the pound is the star-performing international champion of the year so far against a basket of currencies.
What’s propping up the pound are the UK’s elevated interest rates, created by stubborn inflation rates – the headline figure is 8.7 percent – which in turn are fuelled by the increased prices of imported goods. Meanwhile, inflation has been falling in the United States so that interest rates there are no longer attractive to hot-money inflows looking to make a quick profit. Expectations that the Fed will continue the hiking of American interest rates have faded.
Meanwhile, the Thai baht is suffering from the failure of the 8-party coalition, led by the Move Forward Party, to take political power in Thailand with ongoing threat of prolonged civil strife. Additionally, Thai exports have been dropping in the past few months as part of a slowdown in the economy as a whole. At present, the Thai economy is rudderless as the military-backed government of general Prayut-chan-o-cha has been in caretaker mode since the general election of May 14.
https://www.pattayamail.com/latestnews/ ... ier-435974
By Barry Kenyon
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Gaybutton
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Re: By Barry Kenyon
Pattaya’s prospects to introduce 24 hours booze sales still over the horizon
By Barry Kenyon
July 20, 2023
The caretaker Thai Cabinet agreed this week that the three provinces of the rapidly expanding Eastern Economic Corridor, which includes Pattaya, should permit 24 hours opening of bars and clubs to boost tourist income in the post-covid era. However, this is one of those “in principle” announcements with various stakeholders still able to cancel, delay or interpret the rules more or less at free will. Certainly, the notion of the EEC business zone becoming a cheerleader for booze reform is a gaspingly original role. It’s best understood with a gin and tonic in your hand.
The secretary of Pattaya’s entertainment and tourism association, Damrongkiat Phinitkan, has made the expected announcement that the move would benefit local businesses and strengthen the Pattaya tourist industry. However, his predecessors have been saying much the same thing since 2010 when the then-Pattaya mayor Itthipol Kunplome led a campaign to extend booze hours till dawn. It got nowhere. The current campaign is said to owe much to newly elected Move Forward member of parliament for Pattaya, Jaras Kumkhainam, with his own flagship proposals to make the resort competitive in world tourist markets.
Whether or not anything more is heard of the current 24 hour Pattaya booze freedom idea will depend on the Thai government once in office. Alcohol not likely to be a priority agenda item and the hot potato is likely to be passed to provincial committees and even to public meetings. Thus we are likely to hear once again the many well-rehearsed, conservative arguments about the need to protect youths, avoid a surge in the crime rate (including prostitution) and prevent an explosion of middle-of-the-night traffic accidents. These debates will doubtless earn their yawn of the month literary awards.
Even if bars were open 24 hours, it’s doubtful if many owners would leap at the opportunity to go the whole hog. Expansion on that scale has enormous implications for rents, salaries, contracts, staff hours and all manner of unforeseen expenses. A recent report on the Cambodian cities of Phnom Penh and Siem Reap found that nearly all nighteries, although legally able to operate 24/7, close around 2 am, or even earlier. There just aren’t sufficient customers to remain open. With Pattaya’s international tourist profile changing rapidly with fewer naughty bachelor boys turning up from Europe, America and Australia, booze liberalization maybe doesn’t have the punch it once did.
Further down the decision-taking line, we will hear much about restricted Happy Zones or Enjoyment Sandboxes where extended booze hours will be allowed with a special permit. One can imagine the howls if Walking Street is allowed to serve cocktails, but Soi Buakhao isn’t. And what if gay zones such as the Jomtien Complex or Boyztown are excluded? Government spokespersons have already said that all night partying must not go on in areas where people need to sleep. Best of luck sorting that one out.
Of course, Pattaya already has substantial 24 hours opening experience. Apart from police, emergency services and hospitals, there are more “we never close” 7/11 convenience stores in Thailand than in any other country except Japan. Foodland, alone of the major food halls, never closes even though an aisle or two are closed off at four in the morning for cleaning. Not to mention the shebeens or illegal drinking dens which do exist in Pattaya if you know where to look. Law reform in Thailand is well overdue with tawdry legal restrictions still in place to force the retail selling of alcohol into artificial windows from 11 am to 2 pm and 5 pm to midnight. Dislodging Thai booze history will be no easy task.
https://www.pattayamail.com/latestnews/ ... zon-436302
By Barry Kenyon
July 20, 2023
The caretaker Thai Cabinet agreed this week that the three provinces of the rapidly expanding Eastern Economic Corridor, which includes Pattaya, should permit 24 hours opening of bars and clubs to boost tourist income in the post-covid era. However, this is one of those “in principle” announcements with various stakeholders still able to cancel, delay or interpret the rules more or less at free will. Certainly, the notion of the EEC business zone becoming a cheerleader for booze reform is a gaspingly original role. It’s best understood with a gin and tonic in your hand.
The secretary of Pattaya’s entertainment and tourism association, Damrongkiat Phinitkan, has made the expected announcement that the move would benefit local businesses and strengthen the Pattaya tourist industry. However, his predecessors have been saying much the same thing since 2010 when the then-Pattaya mayor Itthipol Kunplome led a campaign to extend booze hours till dawn. It got nowhere. The current campaign is said to owe much to newly elected Move Forward member of parliament for Pattaya, Jaras Kumkhainam, with his own flagship proposals to make the resort competitive in world tourist markets.
Whether or not anything more is heard of the current 24 hour Pattaya booze freedom idea will depend on the Thai government once in office. Alcohol not likely to be a priority agenda item and the hot potato is likely to be passed to provincial committees and even to public meetings. Thus we are likely to hear once again the many well-rehearsed, conservative arguments about the need to protect youths, avoid a surge in the crime rate (including prostitution) and prevent an explosion of middle-of-the-night traffic accidents. These debates will doubtless earn their yawn of the month literary awards.
Even if bars were open 24 hours, it’s doubtful if many owners would leap at the opportunity to go the whole hog. Expansion on that scale has enormous implications for rents, salaries, contracts, staff hours and all manner of unforeseen expenses. A recent report on the Cambodian cities of Phnom Penh and Siem Reap found that nearly all nighteries, although legally able to operate 24/7, close around 2 am, or even earlier. There just aren’t sufficient customers to remain open. With Pattaya’s international tourist profile changing rapidly with fewer naughty bachelor boys turning up from Europe, America and Australia, booze liberalization maybe doesn’t have the punch it once did.
Further down the decision-taking line, we will hear much about restricted Happy Zones or Enjoyment Sandboxes where extended booze hours will be allowed with a special permit. One can imagine the howls if Walking Street is allowed to serve cocktails, but Soi Buakhao isn’t. And what if gay zones such as the Jomtien Complex or Boyztown are excluded? Government spokespersons have already said that all night partying must not go on in areas where people need to sleep. Best of luck sorting that one out.
Of course, Pattaya already has substantial 24 hours opening experience. Apart from police, emergency services and hospitals, there are more “we never close” 7/11 convenience stores in Thailand than in any other country except Japan. Foodland, alone of the major food halls, never closes even though an aisle or two are closed off at four in the morning for cleaning. Not to mention the shebeens or illegal drinking dens which do exist in Pattaya if you know where to look. Law reform in Thailand is well overdue with tawdry legal restrictions still in place to force the retail selling of alcohol into artificial windows from 11 am to 2 pm and 5 pm to midnight. Dislodging Thai booze history will be no easy task.
https://www.pattayamail.com/latestnews/ ... zon-436302
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Gaybutton
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Re: By Barry Kenyon
Maybe that's it and this time it will pass - just like inviting someone to a party because you know damned well he won't come.Barry Kenyon wrote: ↑Fri Jul 21, 2023 9:12 am with fewer naughty bachelor boys turning up from Europe, America and Australia, booze liberalization maybe doesn’t have the punch it once did.
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Gaybutton
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Re: By Barry Kenyon
Fish and chips’ feast in Thailand but famine in UK
By Barry Kenyon
July 24, 2023
The very survival of fish and chips in UK is threatened even as the dish continues to dominate the foreign food headlines in Thailand. According to the internet site Chippy Chat, many of the UK’s 10,000 or so chippies are even contemplating closure as the portion price zooms past 10 GPB (430 baht) thanks to the war in the Ukraine, shortage of fresh fish from the Russian Arctic and domestic inflationary pressures for wages, gas and electricity. “Fish and chips in Britain have traditionally been cheap as well as popular, but with costs rising weekly, we will be hitting 15 GPB per portion by the end of the year,” according to the owner of Haddock Paddock near Manchester. Who is going to pay that he wonders?
By contrast, fish and chips have never been so popular in Thailand. There are now said to be over a thousand outlets in Bangkok and over two hundred in Pattaya. “It’s true that most fish and chips are sold in Thai restaurants offering a wide menu rather than a specialist one, but the expansion has been gigantic,” said Colin Mason who has recently written a short international history of the food. The average price of fish and chips in a Thai eatery is around 270 baht (just over 6GBP). However, the price varies according to the fish used. Imported cod and haddock are much more expensive than local catfish or even imported estuary perch from China which sometimes masquerades as Icelandic or Norwegian cod.
Many Thai restaurants are keen to imitate British history as far as possible. One outlet in Bangkok’s Khao San Road is even a member of the British Federation of Fish Fryers, the UK regulatory body. Another trend is to offer genuine Sarson’s vinegar and to add mushy peas and battered pork sausages to the menu in the English style. In Pattaya, Sharples’ traditional fish and chip shop is about to open another branch and is offering franchises nationwide. Curry sauce as a replacement for vinegar has yet to figure prominently in Thai-version fish and chips.
Although the number of British tourists and expats to Thailand has fallen by around a half since the 1990s, the desire to find something familiar and tasty to eat in a foreign land remains strong and irresistible. Moreover, several Facebook food groups aimed at Brits are in serious daily competition to find where to find the best fish and chips in Thailand. That’s a marketing tool in its own right. As Colin Mason puts it, “American burgers, German Sauerbraten and Italian pizzas have their place, but nothing can replace for Brits the dish that won world war two.” Almost singlehanded.
https://www.pattayamail.com/latestnews/ ... -uk-436667
By Barry Kenyon
July 24, 2023
The very survival of fish and chips in UK is threatened even as the dish continues to dominate the foreign food headlines in Thailand. According to the internet site Chippy Chat, many of the UK’s 10,000 or so chippies are even contemplating closure as the portion price zooms past 10 GPB (430 baht) thanks to the war in the Ukraine, shortage of fresh fish from the Russian Arctic and domestic inflationary pressures for wages, gas and electricity. “Fish and chips in Britain have traditionally been cheap as well as popular, but with costs rising weekly, we will be hitting 15 GPB per portion by the end of the year,” according to the owner of Haddock Paddock near Manchester. Who is going to pay that he wonders?
By contrast, fish and chips have never been so popular in Thailand. There are now said to be over a thousand outlets in Bangkok and over two hundred in Pattaya. “It’s true that most fish and chips are sold in Thai restaurants offering a wide menu rather than a specialist one, but the expansion has been gigantic,” said Colin Mason who has recently written a short international history of the food. The average price of fish and chips in a Thai eatery is around 270 baht (just over 6GBP). However, the price varies according to the fish used. Imported cod and haddock are much more expensive than local catfish or even imported estuary perch from China which sometimes masquerades as Icelandic or Norwegian cod.
Many Thai restaurants are keen to imitate British history as far as possible. One outlet in Bangkok’s Khao San Road is even a member of the British Federation of Fish Fryers, the UK regulatory body. Another trend is to offer genuine Sarson’s vinegar and to add mushy peas and battered pork sausages to the menu in the English style. In Pattaya, Sharples’ traditional fish and chip shop is about to open another branch and is offering franchises nationwide. Curry sauce as a replacement for vinegar has yet to figure prominently in Thai-version fish and chips.
Although the number of British tourists and expats to Thailand has fallen by around a half since the 1990s, the desire to find something familiar and tasty to eat in a foreign land remains strong and irresistible. Moreover, several Facebook food groups aimed at Brits are in serious daily competition to find where to find the best fish and chips in Thailand. That’s a marketing tool in its own right. As Colin Mason puts it, “American burgers, German Sauerbraten and Italian pizzas have their place, but nothing can replace for Brits the dish that won world war two.” Almost singlehanded.
https://www.pattayamail.com/latestnews/ ... -uk-436667
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traveller123
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Re: By Barry Kenyon
I have just returned after 3 months in the UK.
I had fish (cod) and chip takeaways once in North West England 8.80 gbp and several times from a chippy in Hartlepool 9.90 gbp where the piece of fish was very big and we bought 2 portions for 3 people.
I had fish (cod) and chip takeaways once in North West England 8.80 gbp and several times from a chippy in Hartlepool 9.90 gbp where the piece of fish was very big and we bought 2 portions for 3 people.
Re: By Barry Kenyon
I never have fish.
I occasionally go for chips, less than once a year on average. My last portion of chips cost about £2, purchased after a stag do.
When visiting London, I can get a good sized Burrito for about £8 or a Japanese style curry from Wasabi for just under £7. That's far tastier than chips and is in London, which is supposedly more expensive than the north.
I guess the high price of fish & chips might be a consequence of overfishing & an idiotic European energy strategy. The rush for unreliable renewable energy has pushed up prices.
This achieves very little, as global CO2 output continues to rise. China opens a new coal fired power station every 2 weeks. They are not the only ones.
I occasionally go for chips, less than once a year on average. My last portion of chips cost about £2, purchased after a stag do.
When visiting London, I can get a good sized Burrito for about £8 or a Japanese style curry from Wasabi for just under £7. That's far tastier than chips and is in London, which is supposedly more expensive than the north.
I guess the high price of fish & chips might be a consequence of overfishing & an idiotic European energy strategy. The rush for unreliable renewable energy has pushed up prices.
This achieves very little, as global CO2 output continues to rise. China opens a new coal fired power station every 2 weeks. They are not the only ones.
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Gaybutton
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Re: By Barry Kenyon
I am convinced the time will come when humans are as extinct as the dinosaurs - and it may not be all that long from now. When it happens we will have done it to ourselves. I'm glad I won't live to see it (or will I?).
"God made the ocean
God made the sky
God made the people
God knows why"
- Lee Marvin (Ben Rumson), 'Paint Your Wagon'
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Gaybutton
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Re: By Barry Kenyon
New campaign to end frozen UK state pensions in Thailand
By Barry Kenyon
July 25, 2023
The 40-year campaign to persuade the British government to end the discriminatory practice of freezing the state pensions of some 520,000 Brits abroad is seeking increased membership amongst those expats living in Thailand. A brand new group End Frozen Pensions – Thailand Branch – has this week received a reply from British MP Sir Roger Gale who says the stumbling block is the fear of the UK Treasury that there could be a flood of catching-up claims which might run into millions of pounds.
The British government only allows inflation-linked increases to the state pension in a small number of countries outside the European Union based on so-called “mutually-assured” agreements. Thailand is not one of the lucky places, although the Philippines is. The issue has been raised many times with the UK court authorities as well as human rights tribunals abroad. But the response has always been that the alleged discrimination is a political rather than a legal issue and thus falls outside of juristic competence.
Upgrading state pensions of all expats, irrespective of location, might cost up to 2 billion pounds over several years but even that amount is less than one percent of the total pensions bill over a similar time scale. Most political pundits say that there is a zero chance of the Conservative government changing its mind, though there is more support in the Labour party for a rectification of the discriminatory practice. Separately, there is now legislation to allow long-term expats to vote in general elections in UK, although the numbers are small in electoral terms and spread over many constituencies.
Expats can join the new group by contacting End Frozen Pensions – Thailand Branch on Facebook. With a British general election in sight next year, the group believes this might be a good moment to rally British expats in Thailand who are thought to number around 50,000, mostly retirees on annually renewable visas. The vast majority have private or company pensions as well as the state pension which becomes frozen on taking up residence or as soon as the UK tax authorities find out. A Thai press report last year said there were also over 1,000 Brits living in Thailand via the Elite visa which offers multiple entry for between 5 and 20 years. About 5,000 Brits have work permits for employment mostly in the restaurant, entertainment and hi-tech industries.
https://www.pattayamail.com/news/new-ca ... and-436690
By Barry Kenyon
July 25, 2023
The 40-year campaign to persuade the British government to end the discriminatory practice of freezing the state pensions of some 520,000 Brits abroad is seeking increased membership amongst those expats living in Thailand. A brand new group End Frozen Pensions – Thailand Branch – has this week received a reply from British MP Sir Roger Gale who says the stumbling block is the fear of the UK Treasury that there could be a flood of catching-up claims which might run into millions of pounds.
The British government only allows inflation-linked increases to the state pension in a small number of countries outside the European Union based on so-called “mutually-assured” agreements. Thailand is not one of the lucky places, although the Philippines is. The issue has been raised many times with the UK court authorities as well as human rights tribunals abroad. But the response has always been that the alleged discrimination is a political rather than a legal issue and thus falls outside of juristic competence.
Upgrading state pensions of all expats, irrespective of location, might cost up to 2 billion pounds over several years but even that amount is less than one percent of the total pensions bill over a similar time scale. Most political pundits say that there is a zero chance of the Conservative government changing its mind, though there is more support in the Labour party for a rectification of the discriminatory practice. Separately, there is now legislation to allow long-term expats to vote in general elections in UK, although the numbers are small in electoral terms and spread over many constituencies.
Expats can join the new group by contacting End Frozen Pensions – Thailand Branch on Facebook. With a British general election in sight next year, the group believes this might be a good moment to rally British expats in Thailand who are thought to number around 50,000, mostly retirees on annually renewable visas. The vast majority have private or company pensions as well as the state pension which becomes frozen on taking up residence or as soon as the UK tax authorities find out. A Thai press report last year said there were also over 1,000 Brits living in Thailand via the Elite visa which offers multiple entry for between 5 and 20 years. About 5,000 Brits have work permits for employment mostly in the restaurant, entertainment and hi-tech industries.
https://www.pattayamail.com/news/new-ca ... and-436690
Re: By Barry Kenyon
Extinction is guaranteed. The only question is the timescale.
To add some balance, historically, no party has progressed this idea. That includes Labour governments and coalitions involving the Liberals.Barry Kenyon wrote: ↑Tue Jul 25, 2023 4:09 pm Upgrading state pensions of all expats, irrespective of location, might cost up to 2 billion pounds over several years but even that amount is less than one percent of the total pensions bill over a similar time scale. Most political pundits say that there is a zero chance of the Conservative government changing its mind, though there is more support in the Labour party for a rectification of the discriminatory practice. Separately, there is now legislation to allow long-term expats to vote in general elections in UK, although the numbers are small in electoral terms and spread over many constituencies.
However, I think it might make sense, as our communist healthcare structure is struggling to cope with demand.
Most of the demand is from pensioners, so if we make it as favourable as possible for them to emigrate, this may help.
Meanwhile, expats do not pay UK tax on overseas income. So I don't see why they should all have the right to vote to put our taxes up, when they will not be paying some or all of those taxes.
I recall one member of another board persistently complaining about not being able to vote. He was supportive of the previous left wing Labour party leader, yet at an early age, he emigrated to a country in the far east with a top rate of tax of 20%. So when he chooses to live in a low tax country for most of his working life, I see no reason why he should have the right to vote to put up my taxes.
On the other hand, if someone has paid UK taxes for 20 or 30 years & therefore accumulated pension entitlements etc, there may be more of a case for allowing them to vote.
Finally, relying on the UK state pension when living overseas is unwise. It's worth naff all, may not increase with inflation and exchange rates can move all over the place.
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Gaybutton
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Re: By Barry Kenyon
Reviewing the five visa options for retirement in Thailand
By Barry Kenyon
July 29, 2023
Thailand regularly appears in the top ten destinations chosen by foreigners wanting to retire abroad. Unlike other south east Asian countries, Thailand does not offer a retiree visa as such but a number of choices aimed specifically or partially at this market.
Non-immigrant “O” visa conversion
This is the most popular route at present. A foreigner aged at least 50 enters the country with a visa exempt or tourist visa (30 or 60 days) and applies at local immigration to convert it to a three months non-immigrant “O” and thence to an annual extension of stay based on retirement. Typically, the financial requirement is 800,000 baht in a Thai bank or proof of monthly transfers to Thailand of at least 65,000 baht. The detailed bureaucracy varies in immigration offices nationwide and several embassies now refuse to get involved in certifying the creditworthiness of their own nationals.
One big attraction for many of the non-immigrant “O” route is that, to date, medical insurance is not required and the paperwork is fairly straightforward. A foreigner with a foreign spouse will be treated as separate individuals and both must provide the financial guarantee. When leaving the country, re-entry permits must be obtained and the 90 days address reporting is in play. Applicants who are short of cash at the time of application or annual renewal are not forbidden from “borrowing” cash from third parties as the check is only on the amounts in the applicant’s bank book. The cost of the visa is 1,900 baht (US$60) assuming no extras have been accumulated along the way.
Non-immigrant “O/A” long stay visa
This is a 12 months visa offered by Thai embassies abroad to retiree applicants, with or without a multiple entry built in. The financial requirements are similar to the “O” extension of stay, but there are additional documents such as a medical certificate illustrating freedom from certain diseases. The visa can be renewed annually at Thai immigration offices. The big problem with the O/A option is that comprehensive medical insurance is required from day one and continues with every annual extension. The Thai Cabinet authorized an annual sum of US$100,000 or 3 million baht. Many retirees have tried to get rid of their O/A and change to “O” extension of stay, but this cannot be done without leaving the country and altering visa status overseas. The cost of OA annually is 1,900 baht (US$60) assuming all the documentation is in order.
“O/X” ten year retiree visa
This little-known option was introduced in late 2016 and offered a ten year multiple entry stay (actually 5×2 years) to retirees aged at least 50 in 14 countries including UK, US, Australia and some EU states. It was available at Thai embassies abroad and at immigration offices in Thailand. The visa never became airborne as the bureaucracy was complex, requiring a crime-free certificate from the home country and an investment of 3 million baht in a Thai bank. Options were available to include spouses and dependent children in the visa allocation. However, the visa did specify that working as a volunteer was OK although no detail was set out. Neither the immigration bureau nor the Thai Cabinet ever issued updates on the visa which is usually assumed to have been stillborn. The fee was 10,000 baht.
The Elite visa
Current enrolments are said to be around 30,000 all told. The Elite visa is not specifically aimed at retirees and there are no age bars. Although there are several variants, the most popular option is the five years, multi-entry choice currently available for a one-off payment of 600,000 baht and renewable. 10 and 20 year options with family guarantees are also available. Attractions for the retiree market include no need for medical insurance and no requirement to show updated bank account details every year. The visa also includes some special privileges such as fast-track at Thai airports which has been favorably reported by customers, particularly in the past year or so.
Long Term Residence
Introduced in 2022 by the Board of Investment, the LTR is a 10 year open visa designed to attract high spenders and investors from overseas. The four categories do include one specifically aimed at retirees over 50 which has so far attracted over 1,000 initial applications (32 percent of the total). The wealthy pensioner is expected to show a substantial regular income as well as evidence of investment such as Thai property or Thai bonds. All LTR applicants must show medical insurance. The overall idea is to encourage settlement by foreign millionaires. The LTR has not attracted the international interest originally anticipated and is perhaps best suited to economic experts and investors keen to take advantage of generous tax breaks. The enrolment fee is 50,000 baht and reporting to immigration is once a year rather than three-monthly.
Conclusions
For retirees, the cheapest and most flexible option is the annual extension of stay, although the Elite visa with its initial down payment and no further financial checks is increasingly being seen in a favorable light. The LTR and the stillborn “O/X” both suffer from complex enrolment bureaucracy and neither offers significant advantages to foreign retirees. None of the visas avoid the need for a work permit for regular employment, although side issues such as being a member of a condominium committee or helping to organize occasional sports or entertainment activities are no longer seen as breaches of the alien labour act. The biggest unknown is the future of medical insurance as a compulsory element in applications. At present, the most popular routes for retirees aged over 50 – the non immigrant “O” and Elite choices – have no such requirement. If that policy was changed and enforced, the proverbial cat would certainly appear amongst the pigeons. Older retirees are the expats whom insurance companies most want to avoid.
https://www.pattayamail.com/latestnews/ ... and-437053
By Barry Kenyon
July 29, 2023
Thailand regularly appears in the top ten destinations chosen by foreigners wanting to retire abroad. Unlike other south east Asian countries, Thailand does not offer a retiree visa as such but a number of choices aimed specifically or partially at this market.
Non-immigrant “O” visa conversion
This is the most popular route at present. A foreigner aged at least 50 enters the country with a visa exempt or tourist visa (30 or 60 days) and applies at local immigration to convert it to a three months non-immigrant “O” and thence to an annual extension of stay based on retirement. Typically, the financial requirement is 800,000 baht in a Thai bank or proof of monthly transfers to Thailand of at least 65,000 baht. The detailed bureaucracy varies in immigration offices nationwide and several embassies now refuse to get involved in certifying the creditworthiness of their own nationals.
One big attraction for many of the non-immigrant “O” route is that, to date, medical insurance is not required and the paperwork is fairly straightforward. A foreigner with a foreign spouse will be treated as separate individuals and both must provide the financial guarantee. When leaving the country, re-entry permits must be obtained and the 90 days address reporting is in play. Applicants who are short of cash at the time of application or annual renewal are not forbidden from “borrowing” cash from third parties as the check is only on the amounts in the applicant’s bank book. The cost of the visa is 1,900 baht (US$60) assuming no extras have been accumulated along the way.
Non-immigrant “O/A” long stay visa
This is a 12 months visa offered by Thai embassies abroad to retiree applicants, with or without a multiple entry built in. The financial requirements are similar to the “O” extension of stay, but there are additional documents such as a medical certificate illustrating freedom from certain diseases. The visa can be renewed annually at Thai immigration offices. The big problem with the O/A option is that comprehensive medical insurance is required from day one and continues with every annual extension. The Thai Cabinet authorized an annual sum of US$100,000 or 3 million baht. Many retirees have tried to get rid of their O/A and change to “O” extension of stay, but this cannot be done without leaving the country and altering visa status overseas. The cost of OA annually is 1,900 baht (US$60) assuming all the documentation is in order.
“O/X” ten year retiree visa
This little-known option was introduced in late 2016 and offered a ten year multiple entry stay (actually 5×2 years) to retirees aged at least 50 in 14 countries including UK, US, Australia and some EU states. It was available at Thai embassies abroad and at immigration offices in Thailand. The visa never became airborne as the bureaucracy was complex, requiring a crime-free certificate from the home country and an investment of 3 million baht in a Thai bank. Options were available to include spouses and dependent children in the visa allocation. However, the visa did specify that working as a volunteer was OK although no detail was set out. Neither the immigration bureau nor the Thai Cabinet ever issued updates on the visa which is usually assumed to have been stillborn. The fee was 10,000 baht.
The Elite visa
Current enrolments are said to be around 30,000 all told. The Elite visa is not specifically aimed at retirees and there are no age bars. Although there are several variants, the most popular option is the five years, multi-entry choice currently available for a one-off payment of 600,000 baht and renewable. 10 and 20 year options with family guarantees are also available. Attractions for the retiree market include no need for medical insurance and no requirement to show updated bank account details every year. The visa also includes some special privileges such as fast-track at Thai airports which has been favorably reported by customers, particularly in the past year or so.
Long Term Residence
Introduced in 2022 by the Board of Investment, the LTR is a 10 year open visa designed to attract high spenders and investors from overseas. The four categories do include one specifically aimed at retirees over 50 which has so far attracted over 1,000 initial applications (32 percent of the total). The wealthy pensioner is expected to show a substantial regular income as well as evidence of investment such as Thai property or Thai bonds. All LTR applicants must show medical insurance. The overall idea is to encourage settlement by foreign millionaires. The LTR has not attracted the international interest originally anticipated and is perhaps best suited to economic experts and investors keen to take advantage of generous tax breaks. The enrolment fee is 50,000 baht and reporting to immigration is once a year rather than three-monthly.
Conclusions
For retirees, the cheapest and most flexible option is the annual extension of stay, although the Elite visa with its initial down payment and no further financial checks is increasingly being seen in a favorable light. The LTR and the stillborn “O/X” both suffer from complex enrolment bureaucracy and neither offers significant advantages to foreign retirees. None of the visas avoid the need for a work permit for regular employment, although side issues such as being a member of a condominium committee or helping to organize occasional sports or entertainment activities are no longer seen as breaches of the alien labour act. The biggest unknown is the future of medical insurance as a compulsory element in applications. At present, the most popular routes for retirees aged over 50 – the non immigrant “O” and Elite choices – have no such requirement. If that policy was changed and enforced, the proverbial cat would certainly appear amongst the pigeons. Older retirees are the expats whom insurance companies most want to avoid.
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