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ResourcesVisa & Immigration LawThailand Immigration LawLooming Increase of Thai Retirement Visa Insurance Requirement?

Looming Increase of Thai Retirement Visa Insurance Requirement?

Transcript of the above video:

As the title of this video suggests, we are discussing the looming increase on the horizon going into quarter four of 2022, we discussed this sometime ago, that it was announced that O-A Retirement visas are going to see the insurance coverage requirement go up to 100,000 US Dollars or self-insurance thereof, so roughly the equivalent of 3 million Baht basically shown in a Thai bank account in order to maintain O-A Retirement Visa status. Let me be clear, we are not talking about O Retirement Visa status, we are talking about O-A Retirement Visa status. Those are two different things. There is an insurance requirement associated with the O-A Retirement Visa, there is not an insurance requirement associated with the O Retirement Visa, at least as of the time of this video. 

So yeah, we are looking at, it was announced I believe last year 2021, I believe they said beginning October of 2022, the insurance coverage requirement was going to go up to 100,000 Dollars. This will have substantial ramifications on folks who are in retiree status, specifically O-A retiree status here in Thailand because there are a number of folks that may not be able to get that coverage depending on their age etc. It may be possible depending on circumstances, to get into a different Retirement Visa category namely get into the O Retirement Visa category but again it is going to be circumstantially dependent. 

For those who are finding this, and we have had a number of clients that have sought our assistance in this, for those who are finding this a bit daunting, it may not be a terrible idea to contact a legal professional, gain some insight guidance into how best to proceed.