The High Season 2016/2017 just started and the cabinet already sent out the good news! Thailand’s government will now extend up to 10 years (from one) the long term Visa for foreigners aged over 50. (in Bangkok Post – 10year visa for senior tourists)
So if you were ever smart enough to think about owning your place in Thailand, this is the time to go from wish to plan!
Until now, one of the major concerns of establishing in Thailand was the annoying visa runs. Regardless of the inconvenience, I understand why Thailand’s Immigration Policy is so strict. In fact, it’s really more of an organization procedure then a patriotic statement. This way, the Thai government forces people who want to stay longer in Thailand then just a 1 month vacation, to apply through their home countries embassies. So, if you’re not a fugitive on the run, this is actually safer and practical to provide information to both governments about migration.
The changes regarding this “Senior Immigration Policy” is that you may now relax for 5 years and get an extension for another 5. This means that if you’re 55 and acquire a property today, you may go on holiday every year to your place in Thailand and rent it out for the remaining months for, let’s say 5 years and get the return on your investment by then.
The property market in Thailand has been growing every year. Since Europe’s top holiday investment destinations felt a huge economic crash, investors, agents and developers have left places like Marbella, Benidorm, and the Canary’s in Spain, Albufeira and Praia da Rocha in Portugal, who experience only 3 to 4 months of Summer in one year, and headed to the most welcoming, beautiful, affordable, warm and open minded country in Asia, Thailand, the Land of Smiles!
Well there you go, after the mortgage is due, retire, pack your bags and get another 5 years Visa extention to just chill and relax in “Smileyland”, enjoying the breathtaking views it has to offer, the delicious colourful food, the weather, the people, the wild life and so on and so on…
Sound like a good plan… hum?!