Announcing the new visa, government spokesperson Athisit Chainuwat noted that it would be a carrot to attract medical tourism and encourage foreigners to spend their golden years in Thailand. He carried on by saying the visa would be split up into two five-year sections and financial restrictions would apply.
Mr Chainuwat explained that people who applied for the visas would have to show proof they either had THB3 million in their bank accounts or received a monthly income of at least THB100,000. Those using the first option will have to leave the sum untouched for the first year after the approval of the visa.
Another stipulation is that the visa applicant has to have medical insurance with minimum cover worth up to the equivalent of US$10,000 (THB355,000) a year. The government has so far not specified the date the 10-year visa option will be introduced.
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Thailand woos prosperous tourists with 10 year visa option
News in Asia
The government of Thailand last week approved the introduction of a 10-year tourist visa. The new visa will be an option for foreign tourists over 50 years old once legislation is enacted to endorse it.