mikekim1219

Since Asia being what it is, inefficient and red tape overload with inflexible policies no official seemed to understand, I just want to cover my basis.

I am transferring 50k USD for reason of purchasing condo to my account in Thailand. The condo I have in mind is lower than 50K and really not sure after I do further study if I still want to buy it. Or even it will be available when I arrive in Thailand next week.

If I decide not to buy the condo, can I still use the fund for other purpose such as, purchasing car, retirement visa fund, cost of living expense..etc. ..? And if I do buy, can I have access to rest of the fund?

Thanks

I will do some research and hire a real estate lawyer.

There's little a lawyer can do to help apart from lighten your pocket and perhaps make you feel better.

The Land Dept people will check everything and will more or less tell you when it's OK to pay.....which is when they are in the process of irreversibly changing it to your name. Pay by cashier's cheque crossed to the name on the chanot so everything's pukka. Don't forget when you import the money have them write in the additional information section of the TT "For the purpose of buying a condominium". Copy it all for future use in exporting the money if you want to.

Cheeryble

Don't you need real estate lawyer or expert to check to make sure the building is at least 51% owned by Thai and the seller doesn't owe any unpaid taxes. etc?

No you don't.

An essential requirement from the Land Dept is a letter from the condominium management stating it is under 50% farang and also that all back fees and debts have been paid up to date. The manager will likely have written several of these before. Without this the Land Dept will not allow the transaction to take place.

What I might do is go to the condo in the evening before I bought to listen for any noise from neighbours.

Also important! Check the water pressure both in kitchen area and bathroom.....the pipes may have furred up badly and even rusted to leaking point it's not uncommon and a first job in a proper renovation is replacement of piping from galvanised to plastic.

After the meter these pipes belong to you and if the pressure's bad it may be a bargaining point for the price as replacement will need tiles stripping out of the bathroom......maybe all as the old ones won't match new.....and if you're changing the tiles well it might as well be new sanitaryware and suddenly you've got a real expense (occasionally a pump will do the job but it's not optimal because of rusting).

Still bit unsure if not hiring a lawyer is good idea. Since I don't speak Thai and have no idea about the condo purchasing policy, how can I be sure of the information I need to know before purchasing the condo?

For example:

- If the condo is old how can I be sure it's not scheduled for demolition?

- What is the singing fund policy?

- Has Condo Management paying annual insurance premium?

- Is the building leasehold or freehold

Also if I have retirement visa, do I still need proof of fund transferred from overseas? I planned to use ATM for most of the funds I need.

I am in the same boat as the OP. Still too young to collect SS and IRA (without penalty). I was looking through Bangkok Bank (my bank) mutual fund performances. They looked very impressive. Anybody have experience with them? I have modest fund (250k usd) that I want to stretch till my IRA and , later, SS kicks in.

Would appreciate constructive advice

Impressive returns can sometimes mean that these investments are higher risk. Do you want higher risk?

Nobody wants high risk for their investment. We all want zero risk and highest possible returns. This being impossible, most of us are trying to find a balance. The risk we are willing to take is proportional to the amount of capital and whims of the individual. I am just trying to stretch my capital as long as possible and safe as possible learn from others of their experience and advice.

Only going by what I read. You seem very defensive. You must be a Ranger owner. Why not enlighten us about the car?

Not defensive only don't want some others,who will be looking for a new car/truck to get the wrong information...

Here is some reading for you:

http://www.thaivisa....ger-t6-22-tdci/

http://usnews.rankingsandreviews.com/cars-trucks/Ford_Ranger/

Only going by what I read. You seem very defensive. You must be a Ranger owner. Why not enlighten us about the car?

If you can wait Ranger 2.2 XLT 4 Dr A/T is 809K...best deal in town...

I looked at this. Long delays.

Even ignoring that, the basic spec seemed to be pretty low and there were a lot of extras to add.

Also the dealer I saw had no apparent desire to negotiate or offer any freebies. You paid the list price and you got the car and the warranty and that was that.

...maybe because it IS the best truck(!) for now,so they think they don't need to squad...TIT... ...enjoy your Triton it has a very good engine and...hmmm,that's it...

Most of the pickup are only used to go to the local shops why not buy a Tata.

Can't fit 4 golf bags. I plan ride my motorcycle for local shopping..

If you can wait Ranger 2.2 XLT 4 Dr A/T is 809K...best deal in town...

I was thinking of this but it had bad review. Lack of interior space and poor handling. Also high depreciation in Thailand. But I do like the idea they won't make it any more new models. It will always be the latest model.

As I've said the New Ranger is the best deal...if you can wait...and mikekim this is a first time that I've heard,that the Ranger had bad review(!)...lack of interior space(!!)...poor handling(!!!)...????...you've mix something up here...

I tried to find the site that I ran into with review. I can't locate it now. I googled and read whole bunch or reviews. Some reviews give credit for its affordability and utility functions however.

Now I am looking at Toyota Hilux Vigo. This pickup has great reviews all across the board. I would like to hear your opinion/review on this truck. What is the going price now for different models?

If you can wait Ranger 2.2 XLT 4 Dr A/T is 809K...best deal in town...

I was thinking of this but it had bad review. Lack of interior space and poor handling. Also high depreciation in Thailand. But I do like the idea they won't make it any more new models. It will always be the latest model.

I have Chinese license issued to foreigners. It is written in Chinese but has English description. Can I still use this in Thailand? Can I change this into Thai license.

My USA license has been expired few years since I haven't been back and have no residency there anymore.

The only way to find out for sure is to go to the local DLT office near where you are staying in Thailand and ask them, much easier if you take a Thai partner or friend along.

Don't worry about taking a test if you have to, it's very easy, mostly just a case of being patience.

Thanks for the suggestion. I am still in China. I shipped all my belongs to Chiang Rai and I will be in the country middle of the month. I will surely take my girl with me to DLT and hope they will accept. I still have my old license expired in 2008. Maybe I can show this to them.

Get an IDP in China while you're there just in case.

No IDP issued in China. They play on different rules here... This is the middle kingdom.. hell with rest of the world~

I have Chinese license issued to foreigners. It is written in Chinese but has English description. Can I still use this in Thailand? Can I change this into Thai license.

My USA license has been expired few years since I haven't been back and have no residency there anymore.

The only way to find out for sure is to go to the local DLT office near where you are staying in Thailand and ask them, much easier if you take a Thai partner or friend along.

Don't worry about taking a test if you have to, it's very easy, mostly just a case of being patience.

Thanks for the suggestion. I am still in China. I shipped all my belongs to Chiang Rai and I will be in the country middle of the month. I will surely take my girl with me to DLT and hope they will accept. I still have my old license expired in 2008. Maybe I can show this to them.

You are absolutely right. If I had listened to the lady at Beijing Embassy, I would have to fly to Thailand for bank statement and medical. Fly back to Beijing for criminal record from local police (who knows how long that would take. China is worse in terms of ownership and common sense) and other required documents. She had no idea about different options. It's not her job to be a consultant. She was only stating the policy for O-A visa according to her embassy.

Embassy letter showing minimum of 65K baht per month INCOME

RE: Eligibility. I will be applying for a retirement visa (a long-stay visa) this summer before I return to Thailand. I have retirement income in excess of 65K baht per month and can prove it with statements from the U.S. Social Security Administration, but you mentioned an "embassy letter". Is that different?

Also I understood from a conversation I had with the Thai Consulate in Los Angeles last year that there are several additional requirements: a statement from your doctor, a statement from the police officials in your town stating that you are not a criminal or fugitive from justice. Is that the general case as far asyou know ?

Can one apply for a multiple entry retirement visa in the states?

Thanks for any information you can provide.

I tried to apply for OA from China which I am qualified to do. The problem was too many required documents as you mentioned. I decided to go for retirement extension. Arrive on 30 day visa, apply for O , have money in the bank (60 days or more) and apply for extension. No medical, no criminal record statement. Just need a bank statement and letter from the bank.

I spoke with the Thai Embassy people in Los Angeles again yesterday. They do require the medical and police statements as well as proof of retirement benefits.They also told me the visa they issue would be valid for 90-days and that I could apply for the one-year visa with multople entries once I'm in Thailand. One other thing about those documents: they must be notarized. This could be a major stumbling block. How to request the Social Security Administration to send a notarized statement, for example? The lady told me I could attach statements, signed before a notary, stating that the information provided was accurate.

I'm in the process of obtaining the required documents and when I have them will attach notarized Affidavits to each. Then I will apply for the O-A visa from the LA Embassy. I'll let you know how that goes.

The Thai visa rules and restrictions on foreigners are complex and confusing. Even in Thailand those rules are interpreted differently depending on which city you're in. I found that out when I bought a motorcycle in Thailand last year and wanted to register it in my own name. And Thaivisa forum members have had various experiences that are reported in here that are not always competely accurate nor uniformly true across Thailand. What a mess it is!

Thanks for your replies.

I had my girl call Mae Sai Immigration. They confirmed what I stated above. No medical, no criminal. Just bank statement and letter.

For 750K you should be able to, ahem, pick up a two year old 3.0 Isuzu auto, 4 door with around 30k on the clock. If you look through the forum you'll see a couple of threads discussing the same thing where someone did exactly that.

The pick up I had in mind was manual with two door 2x. Now I am not sure if I want to drive on the right seat on the left side of the road with stick. Not interested in 2nd hand. I may just increase my self imposed budget and go for automatic. Any suggestions?

I am sure this question has been answered many times over but can't seem to find the right answer.

I plan to buy a car within a month (as soon as I clear up the driver license issue). I noticed disproportionate number of pickup trucks here in Chiang Rai. I think the reason is because of the lower price compare to passenger cars. I checked out a few and leaning towards pickups. My budget is about 750k. Can someone suggest a good pickup for the buck?

I have Chinese license issued to foreigners. It is written in Chinese but has English description. Can I still use this in Thailand? Can I change this into Thai license.

My USA license has been expired few years since I haven't been back and have no residency there anymore.

I would recommend putting a portion of your lump sum into annuities for peace of mind and security ( although the rates right now are horrible) 400,000 USD will bring you 2,200 USD minimum per month guaranteed. Also try and get a diverse spread of retirement income, when i retire (in 15-20 years time !) i am aiming for the following (using today's prices and very conservatively assuming that the global economy and investment returns remain as poor as they do to day!!)

Annuities- US$ 2000-3000 per month

Company pension after tax $4-6 k per month

Rental property income $2-7 K per month

Stock investment returns (conservatively) @$1k per month

Retirement funds = 9,000 to 17,000 US$ per month

With that money, why even bother to live in Thailand? Hawaii is nicer and they speak English.

Fixed deposit (cash savings) can be used for extensions of stay - investment type (non cash/immediate access) could not.

The Embassy letter requires your passport, payment of $50 or 1,600 baht and you sign under oath that the information is true (thus subject to penalties under US law if not). Immigration might ask for supporting documents to prove it if they have any doubt.

You could only apply for a visa inside Thailand if intending to extend stay and it would be valid for only 90 days and require meeting extension requirements. If you do not want to extend best choice (after marriage) would be a multi entry non immigrant O visa allowing unlimited stays of up to 90 days each for one year validity. That can currently be obtained in Savannakhet with marriage certificate/copy of wife ID card and home register or normally in home country. Also available in KL for above plus proof of 100k in a bank account. Other Consulates cay vary with up to proof of 400k bank account being required (same as extension requirement).

Thanks a bunch for your info. Looks like best and easiest way would be fixed account.

Embassy letter showing minimum of 65K baht per month INCOME

RE: Eligibility. I will be applying for a retirement visa (a long-stay visa) this summer before I return to Thailand. I have retirement income in excess of 65K baht per month and can prove it with statements from the U.S. Social Security Administration, but you mentioned an "embassy letter". Is that different?

Also I understood from a conversation I had with the Thai Consulate in Los Angeles last year that there are several additional requirements: a statement from your doctor, a statement from the police officials in your town stating that you are not a criminal or fugitive from justice. Is that the general case as far asyou know ?

Can one apply for a multiple entry retirement visa in the states?

Thanks for any information you can provide.

I tried to apply for OA from China which I am qualified to do. The problem was too many required documents as you mentioned. I decided to go for retirement extension. Arrive on 30 day visa, apply for O , have money in the bank (60 days or more) and apply for extension. No medical, no criminal record statement. Just need a bank statement and letter from the bank.

If using the O-A visa obtained in the home country to start (an option, not required) the money shown if using the 800K bank method is typically in the home country, which is OK for O-A applications, and as far as I know, seasoning is not required.

I've found that it doesn't even really need to be a bank account with that 800K. I've got an investment account with a portfolio of holdings that exceed that limit, and all I've needed to do is show the Consulate-General that I do have that investment. I've also used an income tax return to show my annual income, again from the investments, but not from a pension.

As for seasoning, I have sent off a copy of several monthly statements showing that investment portfolio, but not sure if more than a single month would be required.

Does this mean 800k doesn't need to be in the regular savings account? I read many post contrary to this. If this is so, can I use mutual fund account ?

Also, a single entry O to be used as a base for the extension is easily available in Malaysia or Laos just by being over age 50.

How about Myanmar?

I just made a rapid, rough calculation. We have flats in Hong Kong that we rent. The return after tax and everything is around 4.5%. And this is without taking into account the capital appreciation. The price of one our flat doubled over a 5 years period. The more I think about it, the more I'm convinced that real estate will still be a major part of our investments. But not in Thailand. Beside the fact that the law is definitively not foreigner friendly, the return is very poor. Over a 12 years period, on our house in Bangkok, if you take into account the cost of the mortgage, if we decided to sell it now we would make about zero money

You can buy Hybrid Annuity. Basically this annuity took the best features of Immediate, Fixed and Variable annuities. In short, you can get life time monthly payment, never lose your principal (this can go up depending on the market and once up cannot come down). But the best feature is you can take out your principle anytime (subject to tax).

With 50Mbt, this plan would keep me sound asleep at night

Has anyone apply for income statement from USA embassy? What is the required document other than passport?

Do you need proof of income?

I will arrive on 30 day extension in 2 weeks. My original plan was to apply for Non-O from immigration then apply for extension once my fund is seated over 60 days in the bank. But if I can go with 2nd option, I think it would be better than having 800,000 or more sitting in the bank doing nothing.

Another question and I am not still clear on this. Once I am married, Can I apply for Non-O spouse visa in Thailand? If I need to go outside of Thailand, can I apply in Myanmar across the Mae Sai border? If so how long does it take?

Again rather than going through the hassle of marriage visa and 400,000 sitting, I rather do a visa run since I will be 80km from the border. I am transferring my funds to Thailand but I want it to work for me through fixed deposit or other investments.

.

I just saw one of the America Got Talent contestant making it to the live show doing basically same thing. I don't know how he did it but it's just a clever trick. Keep your bank book secured just in case.~

That was unbelievable. I Googled about how he did it, and the only thing people could come up with for the Vegas episode was that Sharon was in on it. I highly doubt the judge was in on the show.

I sure would like to know how he did it.. with that kind of trick I can make average 100bt a day easy ..

When they can tell me winning lottery number, I will become a believer~

8 25 35 36 37 9 16

Now you find the lottery and correct date. Glad I can help

I will send you half the winnings~