Khaeng Mak

49 minutes ago, ozmeldo said:

High drama here

 

Life is based on similar situations and circumstances.

 

It's what often drives migration, families are routinely broken up so breadwinners can chase money to feed their families.

 

What do you expect from the country? Permanent residency for being broke? That's a serious question, not being flippant.

I'm not broke.  I am just old, sick (cancer) and disabled. Thanks for your input.

35 minutes ago, Sheryl said:

Several of the things on your list can be dealt with my being adequately insured.

 

It's not a minimum of 400K year round. It is a minimum of 800K 5 out of 12 months and 400K the rest of the time.

 

And effectively, it is gone unless you later decide to leave Thailand.

 

I'm considering putting 800K into a fixed deposit.  I would not mind that so much if Thai banks had a provision whereby an account can be designated "payable on death to.." because then at least the funds would become immediately available to my Executor/heirs on my death. I'm not going to leave behind less than 800K anyhow.  But they do not, and getting funds  from a  bank account after someone's death in Thailand, even with a Thai will, is a long drawn out affair. Which is a main reason I have for nto wanting to bring in more money than I need to - that and the low interest rates.

 

What the government ought to do is set up, either at the Bank of Thailand or with a designated bank(s) a system for posting a bond wherein the amount is immediately payable to designated beneficiaries upon the holder's death and also guaranteed to be immediately refunded to the holder on request, with any extension of stay granted based on then void  after X (reasonable number) of days.  If they want to make it really attractive, offer a competitive level of interest and allow the interest amount only be withdrawn, either annualy or at will.

 

 

With respect Sheryl, too complicated. Not everyone is as smart as you.

Thais authorities and banks will never handle the logistics and the average retiree punter wont understand the details.

A simple solution is to just let us use the 800K to purchase a property or a business in our name. And make it retrospective. 

That is, anyone who has already purchased a condo (worth more than 800K) in their name need only show their chanote to get their extension.

But such a policy would make it easier for many retirees and we all know that that is not the intended outcome of these recent changes.

4 minutes ago, soalbundy said:

Since we cannot control events we can't pride ourselves as being doers but merely that which reacts and our reactions are programmed according to genetic makeup and nurture, it is therefore pointless to ponder the question 'what if'.

Epistemology is a noble pursuit. But it won't help me get my retirement extension.

4 minutes ago, thaidrew said:

Actually it is not difficult for immigration to make it a requirement to open a dedicated retirement account, withdrawal from which is blocked below 400k. Or require a term deposit in the amount of 800k with the proviso that more than 400k can't be withdrawn. Malaysia have much the same system but for a higher figure RM150k about usd 35k, you can can withdraw for specified purposes but not more than the minimum allowed, which is about usd12k l think. To withdraw an application must be made, reasons quoted and if withdrawing all visa is terminated. 

If they made such an account/requirement here then then it will cause even further problems for me because I use a fCD for my annual extension.

4 hours ago, rott said:

In another thread is it you that is saying that you are handicapped and could not survive here without the help and support of your family here?

 

If this is the case why would you be grabbing a taxi for the airport and doing a runner to Vietnam.

 

Apologies if it is not you.

So are you telling me I am not allow to get treatment back home if I need it in a hurry. 

36 minutes ago, thesetat2013 said:

You all forget the most obvious one. Gf or wife is angry at you and uses your bank book to take that money for her to leave you. 

Yes...That is a second giant elephant in the room I failed to mention. Betrayal by your wife, gf, or a business partner. Can't ensure against that risk either.

1 minute ago, chrisinth said:

That is information that you voluntarily gave them.

 

The poster I was addressing was suggesting that immigration had access to bank accounts.

 

So no, I wasn't kidding. Read the post I was replying to again. 

How was it voluntary? No documents not extension.

4 minutes ago, BritManToo said:

VISA rules Relationships are a lot easier if you don't try and stay in one place year round.

5 minutes ago, HuskerDo said:

Then what? They moved back to their home country? Moved to another place in SEA? Died?

No.

If they were pals of BritManToo they would have wrote a memoir entitled: Life in a Philippine prison.

On 2/1/2019 at 5:47 PM, sometime said:

Sorry but a load of tosh, most of our time is spent in the garden not the bars.

How do you get your work permit?

Horticulture is a prohibited occupation for foreigners.

14 hours ago, SheungWan said:

Risk of exchange rate variations is part of the expat experience. Prudence or otherwise one's own factoring in. Nobody else's responsibility.

Yes entirely correct.  But the nature of that task was once a doddle. Just check my baht balance a day or so before I do my extension and top up if required.

Now I am forced to monitor the balance every day AND make any PREEMPTIVE top up in anticipation of (entirely unpredictable) events such as currency corrections, flash crashes, and (heaven forbid) military coups. 

49 minutes ago, kickstart said:

It was about 2005 when Thaksin overnight doubled the retirement extension money to 800K, he said farangs are getting a good exchange rate, so they can afford it, would they do it  now with the low exchange rates, and have they worked out how much us farangs living here spend.

 If they do up the amount, well a lot of farangs will be caught between a rock and a hard place, retirement in they own country not easy not enough money to live on, and I would say for a few farangs finding somewhere to live,

Or, clearing out all they home county banks shipping it all over here, with low exchange rates, and just hoping they do not have any major expenses in their own country .not easy. 

They have already upped the amount.  As Sheryl posted yesterday, because 400K must be retained in the bank account all year the amount of money that is required for an extension now 1.2 million.

57 minutes ago, The Theory said:

Perhaps you will be questioned at the port of exit for not having “reentry permit” since your extension is base on retirement. 

My guess is they won’t renew your retirement extension next time due to lack of fund in bank (400,000 year long). 

I always get a single reentry permit stamp when I make any annual extension.  Have not used many of them but like to have one in my passport at all times just in case I have to dash for some reason.  They are only 1000 baht (which actually now is getting a bit expensive).

A senior member here posted to warn me that taking the above advice is absurd.

13 hours ago, D3030 said:

That makes sense that a deposit goes up with interest.  But it sounded like the OP or this other post I read or misread implied the amount of 400K would drop based on exchange rates.

 

Yes I am worried that that my currency will weaken against the baht.

9 minutes ago, Jingthing said:

Taking advice on this forum is being absurd.
 

Where else can I get advice?

This is the go to place for Thai visa advice isn't it?

I have read many of the threads here and its seems that Thai visa often assume the role of mouth piece for the expat community and seeks clarification of new stuff on our behalf. 

If I can't trust the advice on this forum why does Thai Visa seek to present itself as representing an expat such as me when they approach immigration for further information or clarification. 

Who appointed Thai Visa as my intermediary with immigration?

I want Immigration to communicate and clarify any new changes directly to me.  Not using some website where senior members tell me taking advice is absurd.

Sawan called the immigration office for me this morning and they didn't even know about this new rule.

13 minutes ago, wgdanson said:

Just put 65k a month from your country into a Thai Bank account. No worries.

Or a lesser amount, topped up to 800k/400k three months before.

Thanks for your kind advice.

What do I do.  Trust that the advice provided by Ubon Joe is absolutely correct.

Or do I act now and try to transfer the equivalent of 400K back into my Thai account (plus a significant margin more to guard against any big FX movements or flash crashes).  This later solution is not as simple as it sounds (and maybe impossible) as I have already locked the funds into fixed term investments outside of Thailand. And there is a grace period of one month on repayment if the term is broken.

5 minutes ago, wgdanson said:

But if the 'new' regs do become law, those who have chilled and not done anything will be up the creek without a paddle

As I understand it the new Regs are already law.  It's just that they come in to effect on the 1st of next month.

11 hours ago, ubonjoe said:

The new rules are not retroactive. If somebody is already on a extension before March 1st the new rules will not apply until their next extension.

When they apply for their next extension they would have to have the 800k baht in the bank for 2 months before they apply and then 3 months after they do it. Then the 400k baht after the 3 months.

See above.

I hope the advice you are providing is absolutely correct. 

If it is not, when I make my next extension application I will be sitting on nearly a year in overstay and could face jail, deportation and a 5 year ban from visiting Thailand and my family.

Not to mention the difficulties I will face trying to live alone with my disabilities and illness without the support of my family.

4 hours ago, jimn said:

You are obviously a born worrier The new regs dont start until March and as far as I can see will only be checked when you go to renew your extension. Not 3 monthly or with the 90 day reports as some have suggested. Enjoy your time here and stop worrying.

I am old, sick, disabled and after many years in Thailand have a life and family here.  However my life and family are currently under siege.  It is clear that retirees are now viewed as the enemy.  In such a milieu, worry is well justified.

Current events:

1. Banks are currently required to flag out of country transfers

2. You have to submit the details of your bank account when applying for an extension

3. You have to apply for a letter and statement from your bank to include with your application

Future events?:

1. Easy for immigration to instruct that whenever a bank issues a letter for an extension renewal, they must also then flag and monitor that account to ensure that the balance does not fall below 400K for the following 12 month period.

2. Immigration to also impose penalty for any bank that fails to notify immigration within 7 days of an account that fell below 400K

1 hour ago, chrisinth said:

I think you imagine immigration to have powers greater than you give them credit for.

 

Immigration would need endless paperwork to see an individual's financial history.

You're joking right? As part of my annual extension application I have to provide immigration with a copy of every page in my bank book (and this year every page in my old book that has holes punched through it as well) and I had to sign each and every one of those pages.

4 hours ago, Sheryl said:

 Or more likely, widely different practice sand interpretations by different IOs.

 

I don't think it is just the translation that is badly worded, suspect the original in Thai is no better. For some reason, Thai government bulletins/edicts seem to favor vague wording.  Causes all manner of problems.

No. Causes all manner of opportunities.