TLloyd
-
Posts
54 -
Joined
-
Last visited
Content Type
Profiles
Forums
Downloads
Posts posted by TLloyd
-
-
Etiolated....Pale, pasty, per Mr. Webster...learned a new word today. Thanks guys. The value of this site grows & grows.
-
I have just decided that I will move to LOS this summer. Will get a retirement visa. I am aware of the requirement for ~ $23,000 in a Thai bank 3 months prior to app. Does anyone have a recomendation on off shore banks, that may have offices in Thailand, where I can keep the rest of my funds? I am also looking for good interest rates, not just a safe place to stash it. I want to transfer my funds out of the US & away from the greedy hands of the new congress.
-
Another great reason to invest in LOS? I think not....
thanks but I'll keep my money offshore where I have access to it, instead of where a bunch of corrupt military clowns dictate the rules
1) junta
2) bombings
3) Bank regulators in Thailand on Monday required banks to lock up 30 percent of new foreign currency deposits for a year in an effort to stop investors speculating on gains in the baht.
Thailand Acts To Aid Its Currency
in Jobs, Economy, Banking, Business, Investments
Posted · Edited by TLloyd
Am I sure I want to do that?.....No I don't want to do it, but if I am going to live there on a retirement visa I don't have much choice. I have to have approx $23,000 US in a Thai bank 3 months prior to getting the visa.
As I read the quote from the article, it applies to transfers greater that $20,000 US. So the answer may be to transfer in amounts less than $20K at a wack to avoid the 30% freeze/hold/whatever. It is similar to a banking reg here in the US. Any cash deposit $10,000 or more must be reported by the bank to the Federal Government, ostensibly to combat money laundering by drug trafficers. Many forms & questions & possibly problems. The solution is to never deposit more than $9500 at a time. Am I thinking correctly on this?
Nevermind...I just read the article. Fund transfers GREATER than $20K US are subject to a freeze of 30 to 33% (exact amount unclear) for time periods LESS than 1 year. Your money stays in the bank 366 days, no freeze/hold. Transfers LESS than $20K US don't appear to be subject to this, no matter what. No problem for me as I will need the funds in the bank each year as I have to renew the retirement visa each year.
Also, back to my previous question, recomendations for offshore banks, possibly with offices in LOS that pay decent interest rate? Hmmmmmm?