retirement visa

[SCOTT FITZGERSLD]

can i apply for a retirement visa while i am  already in the country from a "30 day visa waiver"? and how? how long the 800Kshould show in my account?,

[JAZZDOG]

http://www.pattayacityexpatsclub.com/expats/docs/retirementvisachecklist.pdf

[SCOTT FITZGERSLD]

so how can i apply for the non - o immigrant extentsion while in thailand, if the 800,000 baht bank balance must be there for two months ? do they require the 800,000 baht to be there for two months even for the two months non-O extentions?

[JAZZDOG]

4 minutes ago, SCOTT FITZGERSLD said:

so how can i apply for the non - o immigrant extentsion while in thailand, if the 800,000 baht bank balance must be there for two months ? do they require the 800,000 baht to be there for two months even for the two months non-O extentions?

Go to immigration and tell them what you want. I believe the non-O is 90 days, cant remember. I hired an expeditor for 15K to do it all. The 800K for two months before you get the RV. Another option is an affidavit from your embassy that you make 800K in retirement income. It is not that big a deal.

[SCOTT FITZGERSLD]

11 hours ago, JAZZDOG said:

Go to immigration and tell them what you want. I believe the non-O is 90 days, cant remember. I hired an expeditor for 15K to do it all. The 800K for two months before you get the RV. Another option is an affidavit from your embassy that you make 800K in retirement income. It is not that big a deal.

if it's not that big a deal, why did you hire an expeditor for 15K to do it for you? to me it sounds simple but everytime i ask about it i keep on getting different answers...? that is why it is confusing....

[SCOTT FITZGERSLD]

so let's see if i got it right: i am in thailand on 30 day visa waiver. i deposit in my thai bank account 800K baht. 15 days before my 30 day visa waiver is finished, i go to immigration office to apply for Non - O 90 days extention. but won't they require me to see the 800K in the thai bank for two months BEOFRE the non-O extention?

[TerryLH]

No.  You apply for a conversion to a Non Imm entry, not an extension.

 

The money needs to be in the bank the day you apply.  When you do an extension after the 90 days, the money will have been seasoned.

[JAZZDOG]

1 minute ago, SCOTT FITZGERSLD said:

if it's not that big a deal, why did you hire an expeditor for 15K to do it for

1 minute ago, SCOTT FITZGERSLD said:

so let's see if i got it right: i am in thailand on 30 day visa waiver. i deposit in my thai bank account 800K baht. 15 days before my 30 day visa waiver is finished, i go to immigration office to apply for Non - O 90 days extention. but won't they require me to see the 800K in the thai bank for two months BEOFRE the non-O extention?

you? to me it sounds simple but everytime i ask about it i keep on getting different answers...? that is why it is confusing....

I have visas in several countries and for me I hate waiting hours in crowds when I can drop off paperwork and come back the next day and pickup my visa. Just renewed, paid my girl 5K and it took ten minutes. For some it seems crazy, for me standing in line all day stressing when you don't have to is crazy.

I believe the funds must season before you apply for the RV two weeks before Non-O expires. Google up the official Pattaya IO site. If your still confused my GF would be happy to do it for 15K, haha.

[SCOTT FITZGERSLD]

11 hours ago, JAZZDOG said:

I have visas in several countries and for me I hate waiting hours in crowds when I can drop off paperwork and come back the next day and pickup my visa. Just renewed, paid my girl 5K and it took ten minutes. For some it seems crazy, for me standing in line all day stressing when you don't have to is crazy.

I believe the funds must season before you apply for the RV two weeks before Non-O expires. Google up the official Pattaya IO site. If your still confused my GF would be happy to do it for 15K, haha.

acctually 5K sounds good, but not 15K. so i understand that the 800K does not need to be there two months, for the non -o visa...only for the Retirement visa it needs to be two months...

[SCOTT FITZGERSLD]

11 hours ago, TerryLH said:

No.  You apply for a conversion to a Non Imm entry, not an extension.

 

The money needs to be in the bank the day you apply.  When you do an extension after the 90 days, the money will have been seasoned.

so i understand that the 800K does not need to be there two months, for the non -o visa...only for the Retirement visa it needs to be two months...

 

[JAZZDOG]

1 minute ago, SCOTT FITZGERSLD said:

so i understand that the 800K does not need to be there two months, for the non -o visa...only for the Retirement visa it needs to be two months...

 

One thing I might add, Parking 800k in a non interest account comes at a considerable price. In my case about 10K per month so I opted to get a letter from the embassy.

[elviajero]

1 minute ago, SCOTT FITZGERSLD said:

so i understand that the 800K does not need to be there two months, for the non -o visa...only for the Retirement visa it needs to be two months...

 

Yes.

 

You can apply for the non ‘O’ as long as you have 15 (maybe 21) days left of the 30 day visa exempt entry or 30 day extension. You need 800K in the bank and probably proof the money came from abroad.

 

They usually issue the visa a couple of weeks after you apply; at which point they will give you permission to stay for 90 days. In the last 30 days of the 90 you can apply for the 1 year extension; at which point the 800K must have been in your bank for at least 60 days.

[SCOTT FITZGERSLD]

11 hours ago, JAZZDOG said:

One thing I might add, Parking 800k in a non interest account comes at a considerable price. In my case about 10K per month so I opted to get a letter from the embassy.

how can you lose 10K a month interest on 800K? that;s like 12%  annual return...

[JAZZDOG]

3 minutes ago, SCOTT FITZGERSLD said:

how can you lose 10K a month interest on 800K? that;s like 12%  annual return...

varied investments in RE, currency, CDB, passive business investments.

[SCOTT FITZGERSLD]

11 hours ago, JAZZDOG said:

varied investments in RE, currency, CDB, passive business investments.

well that's business, not savings account...my fear is only devaluation of the thai baht, which is aT historic heights

Edited May 23, 2018 by SCOTT FITZGERSLD

[JAZZDOG]

2 minutes ago, SCOTT FITZGERSLD said:

well that's business, not savings account...my fear is only devaluation of the thai baht, which is aT historic heights

Actually not and the Xrate for baht is a good example. Here is a passive deal that's part currency part CD. Brazil Xrate is 3.70 and CDB currently paying only 7%, it has averaged over 12% over the last ten years. I have been fortunate enough to invest in two peaks and made over 20% each time on top of the 12% CDB income over that period. Both required a 2-3 year holding period. I believe that an investment in the Real today would turnover quickly, say less than a year. The Selic rate is at historic lows and should improve as the economy grows. Between the two there is substantial upside/limited downside. I live there half the year which is another benefit. US$ 100K investment today 370K reis in a year at 8% CDB would be over 400K transferred out at 3:1 would be US$ 133K, after tax 30% return between the increased valuation and interest. In this case that 800K sitting in the Thai bank devaluating would have earned 21K baht per month! Brazil RE has been asleep for about 6 years and is waking up, another good opportunity. Lots of folks here will disagree but they likely haven't been there.

[Thailand J]

Were you there when BRL lost 9% against USD May 23, 2017?

You were there last week when BRL dropped to 3.74, a -14% from a year ago.

Why do you think they offer high rates? may be its the protest on the street, the uncontrollable inflation and the wild fluctuating exchange rate?

NOT where you should put your retirement money. may be a small portion just for fun.

 

I don;t know why people complain about the negligible opportunity cost of 800K in the bank.

1. It's only 3 months.

2. All or part of that should be your cash reserve, who invest all his money untill there is non left for spending and emergency?

3. Don;t you have to send money to Thailand anyway?

 

Another guy bragged about 5% return in Australia turned up to be P2P lending, give me a break.

 

 

 

 

 

 

 

Edited May 23, 2018 by Thailand J

[bkk6060]

4 hours ago, Thailand J said:

Were you there when BRL lost 9% against USD May 23, 2017?

You were there last week when BRL dropped to 3.74, a -14% from a year ago.

Why do you think they offer high rates? may be its the protest on the street, the uncontrollable inflation and the wild fluctuating exchange rate?

NOT where you should put your retirement money. may be a small portion just for fun.

 

I don;t know why people complain about the negligible opportunity cost of 800K in the bank.

1. It's only 3 months.

2. All or part of that should be your cash reserve, who invest all his money untill there is non left for spending and emergency?

3. Don;t you have to send money to Thailand anyway?

 

Another guy bragged about 5% return in Australia turned up to be P2P lending, give me a break.

 

 

 

 

 

 

 

Because they probably mostly lie and have no money and $25,000 if their life savings.

 

 

[JAZZDOG]

4 hours ago, Thailand J said:

Were you there when BRL lost 9% against USD May 23, 2017?

You were there last week when BRL dropped to 3.74, a -14% from a year ago.

Why do you think they offer high rates? may be its the protest on the street, the uncontrollable inflation and the wild fluctuating exchange rate?

NOT where you should put your retirement money. may be a small portion just for fun.

 

I don;t know why people complain about the negligible opportunity cost of 800K in the bank.

1. It's only 3 months.

2. All or part of that should be your cash reserve, who invest all his money untill there is non left for spending and emergency?

3. Don;t you have to send money to Thailand anyway?

 

Another guy bragged about 5% return in Australia turned up to be P2P lending, give me a break.

 

 

 

 

 

 

 

Indeed I did live there then and I have made a ton of money there in RE also. Without wide swings in Xrates these gains aren't possible. My money left in late 2016 at around 3.15. To me 3.75 is an opportunity I have been sitting back waiting for. Obviously timing is key.

If it's not your thing that's fine but I know allot of people on both sides of the pond got sucked into the sub-prime meltdown and the RE bubble that followed. Many of us saw that coming for ten years and had pulled back. The conservative money got in late and got slammed. Good chance we will see that repeated very soon. Time will tell but my bet is in early 2019 the Real will be near 3.00, the selic 8.25. By the way my CDB accounts can be accessed at anytime within 24 hours. 

The 800K needs to be back in your account 90 days before your RV renewal the next year so most folks would just leave the funds parked making nothing, not very smart. 

[bkk6060]

I do not understand why some financially even want to come here.

So many have an issue with the $2,000 a month requirement..they cannot qualify so I assume are already living someplace in the world on less then that?  

Maybe they are reading too much about guys claiming $500 a month here is all you need.  Good luck with that not a quality retirement life.

[Thailand J]

I can assure you putting my money in Brazilian Real is definitely not my thing.

I can also assure you i ain't the one who is not very smart.

 

Just so that the new comers are not misinformed, the usual retirement extension is simple and speedy, no need to get an agent.

 

 

 

[SCOTT FITZGERSLD]

On 5/23/2018 at 4:33 PM, JAZZDOG said:

Actually not and the Xrate for baht is a good example. Here is a passive deal that's part currency part CD. Brazil Xrate is 3.70 and CDB currently paying only 7%, it has averaged over 12% over the last ten years. I have been fortunate enough to invest in two peaks and made over 20% each time on top of the 12% CDB income over that period. Both required a 2-3 year holding period. I believe that an investment in the Real today would turnover quickly, say less than a year. The Selic rate is at historic lows and should improve as the economy grows. Between the two there is substantial upside/limited downside. I live there half the year which is another benefit. US$ 100K investment today 370K reis in a year at 8% CDB would be over 400K transferred out at 3:1 would be US$ 133K, after tax 30% return between the increased valuation and interest. In this case that 800K sitting in the Thai bank devaluating would have earned 21K baht per month! Brazil RE has been asleep for about 6 years and is waking up, another good opportunity. Lots of folks here will disagree but they likely haven't been there.

AND what if you invested in BRL 7 years ago, when it was 2 real per USD? than you would loose half your investment within less than a year, when the BRL moves from 2 real to 3.9 real per dollar. you see, that's not a business, it's currency speculation. and if you don't believe that the real can reach 5 to USD  -just wait and see !!

[Tanoshi]

On ‎5‎/‎24‎/‎2018 at 4:55 AM, Thailand J said:

I don;t know why people complain about the negligible opportunity cost of 800K in the bank.

1. It's only 3 months.

2. All or part of that should be your cash reserve, who invest all his money untill there is non left for spending and emergency?

3. Don;t you have to send money to Thailand anyway?

I keep the 800K in a fixed term account.

In 4 years it acquired over 45K in interest, which I just roll over.

Last year I invested it in a 3 year fixed term with Kasikorn earning 1.8%.

 

It's there for the wife when I'm gone.

 

[JAZZDOG]

1 hour ago, SCOTT FITZGERSLD said:

AND what if you invested in BRL 7 years ago, when it was 2 real per USD? than you would loose half your investment within less than a year, when the BRL moves from 2 real to 3.9 real per dollar. you see, that's not a business, it's currency speculation. and if you don't believe that the real can reach 5 to USD  -just wait and see !!

You study history. I have lived there a long time so that matters as I spend the currency and have averaged 12% interest.  Obviously you don't enter at an historic low and in hindsight you could site your example for any currency investment. We are not talking long term. I funded my account during the global meltdown 2009 from an account in Scotia BankCR earning 7% and drew out funds to purchase a beach front lot in 2011. That CDB yielded 50% over two years plus the I-rate averaged 12%. More recently I funded the same account in jan/16 and withdrew funds to payoff a house one year later which returned 25% while the I-rate reached 14% for some time. My seed money remains untouched. I believe you're maybe correct with the uncertainty of the upcoming election, I hope so. 5:1 is possible which will be another great opportunity. My gut tells me it may have topped out already. Forbes predicts the Real to be near 3 in a year from now. The currency deal only works for me in a country with wide swings high and low. In any case at this point I am playing 100% with the houses money. Brazil for sure has its issues but the abundant nature resources makes it a much different place to invest than others.

[55Jay]

If you're set up alright financially, chuck 800k in the bank and fuggedaboutit.  I consider it the "aw shit" contingency fund, and then once a year it's the dog and pony show me da' money fund.  7-800 Baht/mo interest at the moment, but whatever.

[JAZZDOG]

1 hour ago, Tanoshi said:

I keep the 800K in a fixed term account.

In 4 years it acquired over 45K in interest, which I just roll over.

Last year I invested it in a 3 year fixed term with Kasikorn earning 1.8%.

 

It's there for the wife when I'm gone.

 

If that works for you it is a good way to go. Personally I leave a bare minimum in an account in Thailand and simply transfer funds as necessary. I realize hindsight being 20/20 but had you invested that same 800K four years ago in BradescoBR in a CDB you would have acquired over 700K in interest and currency appreciation. Is there a higher risk, absolutely, but it is mitigated when you invest in a currency at historic lows. Yielding 12% interest over 1.8% also softens the hit from currency downside. If the Baht depreciates as expected the 1.8 yield wont cover the loss. Then again I live most of the year in Brazil so currency swings don't effect me as much.

[JAZZDOG]

6 minutes ago, 55Jay said:

If you're set up alright financially, chuck 800k in the bank and fuggedaboutit.  I consider it the "aw shit" contingency fund, and then once a year it's the dog and pony show me da' money fund.  7-800 Baht/mo interest at the moment, but whatever.

Read #17, it is not opinion, it is fact. Being "financially alright" does not include fore going an opportunity too make 700K  on an initial 800K investment as opposed to 45K over 4 years. That amounts to 15,000 baht less I need to transfer each while I stay in LOS. Now go back and multiply that 700K investment times 15 or 20. Money ain't for nothin', chicks for free.

[55Jay]

Just now, JAZZDOG said:

If that works for you it is a good way to go. Personally I leave a bare minimum in an account in Thailand and simply transfer funds as necessary. I realize hindsight being 20/20 but had you invested that same 800K four years ago in BradescoBR in a CDB you would have acquired over 700K in interest and currency appreciation. Is there a higher risk, absolutely, but it is mitigated when you invest in a currency at historic lows. Yielding 12% interest over 1.8% also softens the hit from currency downside. If the Baht depreciates as expected the 1.8 yield wont cover the loss. Then again I live most of the year in Brazil so currency swings don't effect me as much.

Roger that, of course you're fundamentally right.   Like others, I transferred an initial amount in to get "set up" here, and the 800k is what's left over at this point after cars and a place to live.   Rest of my coins remain invested offshore, and cash.  Nothing fancy.

 

 

[JAZZDOG]

7 minutes ago, 55Jay said:

Roger that, of course you're fundamentally right.   Like others, I transferred an initial amount in to get "set up" here, and the 800k is what's left over at this point after cars and a place to live.   Rest of my coins remain invested offshore, and cash.  Nothing fancy.

 

 

Roger, Read up on currency investment. I have watched too many get burned in stocks and I like the control I have with Xchange investment. The biggest impediment to investing in Brazil is residency to get a bank account that pays some of the highest interest rates in the world.

 

For me I just set up automatic funding from my BOFA acct to my BB acct in NYC. I invested in a guesthouse/café my GF manages to keep her busy. Only makes about 50K/month but that covers our rent and gives her something to do and a safe place for me to eat and drink, haha.

[bkk6060]

3 hours ago, Tanoshi said:

I keep the 800K in a fixed term account.

In 4 years it acquired over 45K in interest, which I just roll over.

Last year I invested it in a 3 year fixed term with Kasikorn earning 1.8%.

 

It's there for the wife when I'm gone.

 

That was a little over 1% a year over 4 years.

Are you bragging about it or telling us what how foolish you may have been?