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Everything posted by Pib
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@tai4de2 Congrats! Yeap...it now seems when a person has all the required documentation lined-up like ducks the approval process is much faster than the initial 4 to 6 months of the LTR program. From looking at your earlier posts you submitted your application on 6 July...and today/20 July you got the endorsement/approval....14 days---fast! And @JimGant very recently got his LTR Pensioner endorsed after around 16 days which included a day or two of delay due to an additional doc request. Yeap....seems BoI is much faster now when a applicant's ducks are all lined up. Regarding your question as to where to have the LTR issued via the e-visa system OR having it done at BoI in you very near term trip to Thailand, I would recommend you play it safe and ask BoI the question per the LTR Visa Issuance Guidance on the BoI LTR website....see weblink at bottom and partial quote. I would think after you explain your situation of wanting to have the LTR issued in Thailand since you will arrive in a few weeks, the evisa system would be more expensive and may not issue the LTR in time for travel, and how you can provide all required docs such as your latest passport copy with all stamp "with the exception of the entry stamp" to occur when arriving that BoI would say no problem...you can indeed have the LTR issued at BoI and you can provide the updated entry stamp on your appointment day. But that's just my opinion....confirm with BoI. I would send your request directly to their email address as shown at the bottom of the webpage AND also submit the same request via their inquiry form. LTR has been answering questions very quickly lately...within hours to a business day. Be sure to include your LTR application number so they can easily look you up in their system. https://ltr.boi.go.th/page/visa-issuance-info.html
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Retirement Visa Rule Changes
Pib replied to SailingHome's topic in Thai Visas, Residency, and Work Permits
You are right that's it's a rumor the Bt800K deposit method has been deleted OR has changed from Bt800K to Bt1M....was this a rumor originating from the 3rd barstool down? And the Bt65K/month transfer/deposit from overseas is still available....as is the home country embassy letter method "if" your embassy provides such letters (the UK, US, AU embassies do not).- 23 replies
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And here's some more stats on the average U.S. retirement income....it gives an excellent example of what that average is based on "mean and median" averages which are calculated differently. The "mean" average which is how most people figure out an average will usually be much higher than a "median" average when talking about income levels of many, many people....like the entire population of a country as the upper income tiers will usually make a mean average much higher than a median average. Webpage Link
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I'm sure when the govt dreamed up the LTR program years ago they first decided what categories of people they wanted to attract. One of those categories was "pensioners." And of course they wanted some sexy sounding names for the different LTR categories as sexy sells. Now the name they gave of "Wealthy Pensioner" was probably selected because it sounds HiSo, sexy, etc....kinda like the HiSo, sexy sounding LTR category of "Wealthy Global Citizen" that implies someone who is a citizen of the world....like a citizen of every country on Earth...can easy afford to do nothing but travel from country to country their entire life... real HiSo, sexy sounding. Yea, when you are selling something you want that something to have a sexy sounding name as sexy sells better. But beyond the selection of HiSo, sexy sounding LTR category names I'm sure Thai govt agencies "like the BoI" knew they needed to have good income statistics for each of the LTR categories as the govt didn't want to set the requirements "too high" but at the same time they also didn't want to set them too low. So, disregarding HiSo, sexy sounding LTR names what does a typical "pensioner" make in most western countries. Well, the typical annual "retirement income" in the U.S. according to the U.S. Census Bureau is approx $76K/year for a 55 to 64 year old (but for many this amount surely includes very significant income from still working), but by age 65 many have stopped working and only have pension/passive retirement income and now the average retirement income amount has dropped to approx $48K/year. See snapshot at bottom. I expect these U.S. retirement income amounts are similar to other western countries like in Europe. Also keep in mind these "average" amounts in the U.S. Census Bureau stats is a "median" type average where half the people made less and half made more. If the statistics were based on how people typically determine an average by adding up say the income of say 1000 people and then dividing 1000 then that that average figure could very well reflect a much higher (or lower) average amount and this type of average is called a "mean." Mean, median, etc.,....math still hurts my head! So, when the Thai govt picked the $80K/year wealthy pensioner level for the "average" retiree over 65 making around $48K, an $80K amount is about 67% (two-thirds) higher than the average retiree's income amount and that average retiree might feel his fellow retiree making $80K is wealthy. And since the Thai govt probably wanted to focus on upper income tiers of retirees for the pensioner category that's probably why they picked the $80K/year requirement level with no investment amount required. But if a retiree with a more average retirement income in the $40K/year ballpark then they also created a $40K to less than $80K/year with $250K investment requirement. Additionally, such amounts definitely sound wealthy to the typical Thai. So, assuming the Thai govt based the LTR Pensioner requirements on statistics like U.S. Census Bureau stats and wanted to focus the LTR pensioner category on those pensioners in the upper tier retirement income stats, then $80K/year was probably about right. And then if a person wants to throw in typical "Thai pensioner" income level that is surely a LOT lower than a typical farang retiree income level then a HiSo, sexy sounding LTR name like Wealthy Pensioner fits. https://www.annuityexpertadvice.com/good-monthly-retirement-income/#:~:text=According to U.S. Census Bureau,2020 to %2447%2C620 in 2021.
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You would probably just provide that on the day of your appointment...the BoI rep would just add that to the paper package they have built for you. Not uncommon for some last minute, very recently updated documentation that needs to be added to the package before going across the hall from the BoI office to the Immigration office where the very last step of the LTR process occurs over an hour or so. Heck, some people between the time they make their LTR issue appointment which could be an appointment weeks or longer away might make some trip that results in another stamp or two in their passport which might also result in a new TM6 if the reentry was at a land border. BoI is just trying to get the "very latest" copy of your passport and some key docs before the LTR appointment day....avoid the need to make a bunch of copies on the big day.
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Double really? Where a person wants to retire (whether they are well off or not so well off) is totally up to them. Maybe it's because they have Thai family, maybe they like the low cost of living in Thailand, maybe they really enjoy the Thai culture, maybe...maybe....maybe a whole host of reasons the person decided on Thailand. Face it....Thailand is a popular location.
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Between the time a person first submits their LTR application and when its approved, which could be anywhere from weeks to numerous months later, a person's immigration/passport records could have change significantly like getting another 1 year extension on their non immigrant visa, maybe even changed from say an extension based on retirement to marriage (or visa versa), maybe even changed from say a Non OA visa to a Non B visa, processed one or more new 90 day repots...etc....etc.....etc....etc. Lots of major or minor changes may have occurred....and what kind of and how many changes possibly occurred will vary from individual to individual. It's my understanding that it's the "Immigration Office" side of BoI that requires the LTR applicant to provide a new copy of their passport with all stamps and other various possible immigration related forms a person might have obtained/processed between the date he initially applied and just before the date the applicant is taking the final step to pay the LTR issue fee/have the LTR actually issued. And immigration requires it in the format requested (one "continuous" PDF doc) versus several PDF uploads that people often upload when initially applying for an LTR. It just something you will have to do...plan on resubmitting your passport and possibly a few other forms like your latest TM47 90 day address report (if you have one), TM6 from last entry (in case one was issued like entering at a land checkpoint vs airport)....if you don't have any of these forms like because you haven't been required to submit a TM47 since you haven't started in Thailand 90 days yet then you just tell BoI such. If your passport hasn't changed in anyway then you just upload it again in the one continuous doc format requested. As said, BoI wants to ensure they have the "latest" copy of your passport and some other forms before taking the final LTR steps.
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Here is what "use" to be on the Bangkok Bank website years ago regarding the process/documentation related to death of an account holder and what a foreign relative needed to do to access those funds. Now their website just says to contact Bangkok Bank for process/documentation requirements which are probably still the same as below.
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Yeap....my Bangkok Bank passbook regular saving accounts reflect a SC and when I did fixed savings account years ago those old Bangkok Bank passbook reflect a FC. I don't know what the code would be for a foreign currency acct but FC might not be it as others have mentioned since Bangkok Bank uses FC for their Thai baht fixed savings accounts. Then again maybe Bangkok Bank also uses FC for accounts other than fixed savings accounts.
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See below Medicare.gov article. https://www.medicare.gov/Pubs/pdf/11037-Medicare-Coverage-Outside-United-States.pdf&ved=2ahUKEwibjty8-pCAAxVbd2wGHS8XB6AQFnoECBsQAQ&usg=AOvVaw0y3hugbAvtkNB0fwwzkYx0
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https://www.immigration.go.th/en/?page_id=1744 Go to above immigration webpage, click Paragraph 3 Required Documents which will pull up a list of documents required in the situation you talk about....you will see Thailand employment and Thai income tax docs are a requirement. The situation you ask about will be on page 3 of the 4 page doc.
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Red, Well, waived is probably not the word I should have used, but more like the Thai language requirement carries little weight in the review process and only a very/low level of understanding is needed....especially when you have a Thai spouse. About a year ago when I did some serious googling on the PR requirements I came across several very creditable websites that gave good details and how when you have a Thai spouse the PR hurdles are lowered in some ways. I guess the Thai authorities don't want to disapprove a PR "just because a person can not speak Thai" when a Thai spouse is involved because the Thai spouse has no problem communicating with the foreigner PR applicant and the PR applicant has basically proven he can fit into Thai society by getting to the point in the PR process where an immigration officer(s) wants to ask a few questions in Thai...and even then if needed immigration would help the applicant to understand what is being asked. Over the coming days I see if I can find those website again. But in the interim, I did find the one below where it talks about the Thai language skills needed. https://attorneysinthailand.com/permanent-residence-in-thailand/
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No....it's just most farangs living in Thailand are retirees, don't work or make enough "and pay Thai taxes," are not married to a Thai, and/or don't want to pay the high PR fee. Plus if the stars line-up and you are approved for a PR that process can take a year or more which many people do not have the patience for. PR's' are for a niche group just like the various LTR visas.
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I assume you want to drop Medicare Part B which has a standard monthly premium of approx $170. Now Part A is free. As you implied Medicare can not be used outside the U.S. except in certain emergency cases. You can signup for and maintain Medicare Part A and B regardless of your U.S. "or foreign address" although as mentioned using Medicare outside the U.S. is a no-go. Merely changing your address to a non-U.S. address will "not" cancel Medicare Part B. You will need to contact SSA for an interview followed by completion of a SSA form. ENSURE you really want to do this because if you want to signup for Part B again in the future there will be a 10% per year premium penalty for lifetime. Example: if dropping out of Part B for 5 years but then reenroll there will be a 50% Part B premium increase for your lifetime. How to Cancel Medicare Part B https://www.medicare.gov/basics/get-started-with-medicare/sign-up/ready-to-sign-up-for-part-a-part-b/how-to-drop-part-a-part-b https://eligibility.com/medicare/part-b/part-b-how-to-disenroll
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Yes...just needs to be a Thai spouse...female or male. I expect most of the time the Thai spouse is the wife. This will also usually result in the wavering of the Thai language requirement. It also cuts the PR certificate approval fee in half from approx Bt191K to Bt96K. ........ What is the Cost of a Thailand Permanent Residence Permit? The Thailand Permanent Residence Permit processing fee is 7,600 Thai Baht. If your application is approved, you have to pay another fee for the Permanent Residence Permit Certificate: 95,700 Thai Baht if you applied for Permanent Residency on the basis of marriage to a Thai citizen. 191,400 Thai Baht if you applied for Permanent Residency on the basis of employment, investment, expert, etc.
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https://www.immigration.go.th/en/?page_id=1744 Clicking on the link of Paragraph 1 at above Immigration website will download an English language doc detailing the various ways to qualify for a PR like employment, relationship with a Thai, etc., While there are ways to qualify via investment/humanitarian/Thai relationship reasons, generally it's going to require having being currently employed in Thailand for at least 3 consecutive years, employment paying a certain amount, paying Thai taxes, etc. See doc at above link.
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Where 1FinickyOne talks "....report every 90 days...." he's not referring to annual visa/extension of stay renewal requirement. Instead he referring to the separate 90 address reporting requirement where a person needs to report his current address to immigration every 90 days when staying in the country continuously for 90 or more days. Now if you exit/reenter Thailand before the 90 day address report is due the 90 date clock is reset to zero and no report is due until 90 days. Or said another way every 90 days address report is a separate issue from the one year annual renewal/extension of a 1 year Non immigrant type visa/extension. Now if you have a LTR or SMART visa the address reporting requirement is just every 365 days vs 90 days.
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See even the Thai Embassy didn't recommend a Non OA visa. Avoid an OA visa due to the medical insurance requirements. It use to be a good visa up until Oct 2019 when the Thai Immigration started requiring medical insurance for OA visa/extensions. Since that change expats have been rapidly jumping off the Non OA boat onto the Non O boat. LOTS and LOTS of posts on AseanNow over the last few years regarding switching from a Non OA to Non O. Don't get me wrong....nothing wrong with having medical insurance; it's just the Non OA medical insurance requirements make it VERY hard to use anything other that some select "Thai" insurance companies/policies which are expensive with weak coverage in order to initially get a Non OA visa and then do annual OA extensions of stay. Summary: Go with a Non O; avoid the Non OA boat (Titanic).
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Amen Brother!!!....especially the first sentence.