BREAKING NEWS Thai immigration considers forcing some retirees to show 800k in bank EVERY THREE MONTHS: report

[Jingthing]

1 minute ago, colinneil said:

Bring it on, if you are here legit should not be a problem.

Many could do the same as me, 80% in a fixed term account, remainder being used for daily needs, pension paid in.

Just make sure the total between the 2 accounts is never below 800.000 .

Smug! I've been legit here over a decade. Never touched an agent's door. This rule will push many people like me out of Thailand. Enjoy your superior dance. I find it nauseating. Maybe you're next? 

[wgdanson]

2 minutes ago, Jingthing said:

The proposal in the video says that "appropriate" income actually means 65K per month imported into Thailand. If you're doing that you wouldn't need to do a 800K bank method. If your income is under that I think implementation of this rule would mean the end of the combo method for all, then you would be doing an 800K bank method, and under this new rule would need to show at least every 90 days. There is nothing in the video about seasoning being needed for the 90 day money shows but that doesn't mean it won't be required. In any case -- HORRIBLE NEWS if true. 

Absolutely crazy. You MAY have to have 800k in the bank to show every 90 days PLUS an 'appropriate ' income to live on.

 

[Jingthing]

Just now, wgdanson said:

Absolutely crazy. You MAY have to have 800k in the bank to show every 90 days PLUS an 'appropriate ' income to live on.

 

Nope. Either the 65K imported or the 800k shown quarterly (if this passes) but seasoning rules for the 90 day shows not specified. For the people that keep a set 800K untouched, there would be change for those bank method people. I think most people spend down and top up annually. 

[wobalt]

This report makes it clear.

the 800 k is not considered to be for your living.

it is just the entrance fee for the country

[NCC1701A]

34 minutes ago, wgdanson said:

And then import further money every month to live on? Stupid idea.

I am afraid I must disagree with you. it is a great idea. like Thai visa elite. you can afford it or you can't.

 

Thais think of everything as status and class.

 

Thai visa elite first class.

800k baht in the bank year round second class.

income and mixed income and savings third class.

 

you want to ride third class on a train in Thailand during April with no A/C and a rooster on your lap?  Up to you.

 

And for all the people who say "I could do this or that with the money" it means you can't afford to meet the requirements.

 

 

 

[stanleycoin]

Feel that love from Thailand to its foreign ex-pats supporting Thai people on many levels..  

 

Ps.  Nice job Uk  government, look what you started. 

 

 

 

[Time Traveller]

14 minutes ago, colinneil said:

Bring it on, if you are here legit should not be a problem.

Many could do the same as me, 80% in a fixed term account, remainder being used for daily needs, pension paid in.

Just make sure the total between the 2 accounts is never below 800.000 .

huh? 

I get dividends paid 2 times a year. Well above the minimum requirements but immigration don't accept that as proof of income because it's not monthly. So, the money gets deposited in the bank and I draw that down over the 12months. That's LEGIT income, for you to state otherwise indicates you are a fool.

Maintaining a fixed balance all year is effectively just buying a overpriced visa. The only people who benefit are banks.

[Jingthing]

I have nothing against heterosexual males. It's the BEHAVIOR of some homophobic heterosexual men that can be hateful.

This topic as you well know has nothing to do with that.

 

This rule if it happens is going to cause great pain and forced repatriations of countless people that have been legitimate and have never used an agent.

You as a disabled person have a curious LACK OF COMPASSION for the suffering of others. Perhaps another case of Thai expat Stockholm Syndrome. 

First they came for the visa runners … 

[unamazedloso]

I will never open a thai bank account. Yesterday i had my wife go transfer money for something i purchased overseas. Invoiced to me but she put the money in her account and attempted to transfer. It was declined. Needed to show my passport and marriage certificate and still it was declined. I had to have the invoice name changed. Oppression much? Why cant my wife buy something for the family. So stupid. Kasikorn bank have just lost a customer. I almost thought maybe its about time i open an account and ill teansfer it myself but after looking into issues people have i decided nope.. Been here for decades but no thanks. Can bring money in but cant send it out unless you fill your pockets or you wish to pay through the teeth. Anyone that has 800k they can just leave in a bank should move out now! I would. Ive been retired since 30 but do runs and home trips yearly. Just feels safer to me. After losing so many millions here ive learnt not to spend a cent! Especially if you get nothing for it.

Lets face it. Its too polluted for old people anyway.

[Jingthing]

2 minutes ago, wobalt said:

This report makes it clear.

the 800 k is not considered to be for your living.

it is just the entrance fee for the country

Well in that case change the rule to a lock up account and be done with it. I know, don't give them any ideas. 

[wgdanson]

8 minutes ago, colinneil said:

Bring it on, if you are here legit should not be a problem.

Many could do the same as me, 80% in a fixed term account, remainder being used for daily needs, pension paid in.

Just make sure the total between the 2 accounts is never below 800.000 .

I don't understand you Colin. 80% of 800k = 640k, plus another account to live off the two of which's total never falls below 800k. So you will ALWAYS need at least 160k in that account, plus your running costs. Why not put all the 800k in your fixed term account and still have your other account?

[Snow Leopard]

18 minutes ago, jacko45k said:

I actually keep my balance above 800k, a personal choice, I also regard the money as a supplement to my medical insurance. Now, if I suddenly need to spend it, let us hope the 90 day money in the bank verification is not due! Oh, will the seasoning requirement become redundant?

Good way of thinking

[inThailand]

This sounds like more diarrhea of the mouth and will just get TV posters bent out of shape, but it's got a low possibility of ever being implemented. 

 

[lovelomsak]

I put 800,000 in the bank when I came 13 years ago to retire have not touched it one time. I look at it like the cost of maintaining my visa extension.

   If a  person doesnot have the means to stay here he should leave simple as that. The requirements are low if some one cannot match it maybe they are not retired but lazy and want to live on nothing and not work ever.

[OJAS]

So how would this be likely to work in practice? Would those applying (or re-applying) for annual retirement extensions on the basis of 800k in the bank be given 4 x 90-day consecutive extensions in future, with each 90-day extension being dependent on a bank passbook or statement being produced showing a continuous minimum 800k balance over the preceding 90 days?

 

Or if enforcement were to be through the separate 90-day reporting process, would this mean the end of online and snail mail reporting, with attendance in person at one's local immigration office every 90 days henceforth being the strict order of the day for everybody (I somehow doubt that the Immigration Bureau's systems are sufficiently sophisticated as to be capable of only excluding those on retirement extensions based on 800k in the bank from the online and snail mail methods) ?

 

And would those on marriage extensions based on 400k in the bank be similarly affected?

[Jingthing]

1 minute ago, inThailand said:

This sounds like more diarrhea of the mouth and will just get TV posters bent out of shape, but it's got a low possibility of ever being implemented. 

 

Could be a sadistic trial balloon to watch many expats freak out. Or not. 

[tropo]

21 minutes ago, madmen said:

Bizarre. Immigration blaming expats when in fact agents wouldn't exist if corrupt Immigration were not taking bribes.
Surely the solution without starting a whole new set of rules would be to......


NOT TAKE BRIBES,!!!

Of course, they need to cover their tracks and blame their customers (expats) and staff (agents) when the spotlight shines in their direction. You'd have to be extremely naive to think the agents are the instigators of this money making scheme. It's a gravy train that won't stop anytime soon.

 

 

 

[Jingthing]

2 minutes ago, lovelomsak said:

I put 800,000 in the bank when I came 13 years ago to retire have not touched it one time. I look at it like the cost of maintaining my visa extension.

   If a  person doesnot have the means to stay here he should leave simple as that. The requirements are low if some one cannot match it maybe they are not retired but lazy and want to live on nothing and not work ever.

I have the means to stay here including income that is under 65K. I was planning on using the combo method this year but then my embassy stopped issuing income letters and doing one without a letter seems to not really be possible. This change would not impact people like you that are not spending down from their 800K bank applications but a significant percentage do and then simply top up annually. 

[overherebc]

40 minutes ago, ocddave said:

I think ultimately, people are just going to leave, the constant ever-changing hassles will be too overwhelming.

Possibly true but where else can they go with their income whatever figure that may be?

[jabis]

I love these unsubstantiated curveball-news, brings life to the news-section 

[CARLO BALDASSARRE]

Plan B....800,000Bht in the bank ...
it's time to see who's legit about staying in thailand..

Hope those affected have their Plan B ready. 

Sent from my CPH1725 using Thailand Forum - Thaivisa mobile app

[Thaidream]

iIMHO rather difficult to understand their motivation in this matter.  If Thai Imm wanted to go after agents- all they have to do is  require every applicant appear in person with their bank book and seasoned 800K.  The purpose of the money in the bank is to live off for the year and then next year top if up.  The majority of people who put the 800K in the banks must have some type of pension/income as they cannot touch the 800K for 3 months and then next year they have to top it up .  

 

The agents put the money in the bank for 1 day and it is gone the next- yet people remain in Thailand and must have some income source- rather than make applicants top up their 800K every 3 months- just show the income source at  time of extension in person .

[Jingthing]

3 minutes ago, jabis said:

I love these unsubstantiated curveball-news, brings life to the news-section 

Sure thing and this one is a DOOZY. 

[madmen]

Possibly true but where else can they go with their income whatever figure that may be?

To a trailer style home in their own country. I doubt the living costs will be that bad especially in some country's that have free Medicare and meds.
Beer will be more expensive but homebrew is legal

[jacko45k]

37 minutes ago, wgdanson said:

And then import further money every month to live on? Stupid idea.

Haha, good point, might as well go for income method, or will we all be required to do both!

[Jingthing]

Just now, Thaidream said:

iIMHO rather difficult to understand their motivation in this matter.  If Thai Imm wanted to go after agents- all they have to do is  require every applicant appear in person with their bank book and seasoned 800K.  The purpose of the money in the bank is to live off for the year and then next year top if up.  The majority of people who put the 800K in the banks must have some type of pension/income as they cannot touch the 800K for 3 months and then next year they have to top it up .  

 

The agents put the money in the bank for 1 day and it is gone the next- yet people remain in Thailand and must have some income source- rather than make applicants top up their 800K every 3 months- just show the income source at  time of extension in person .

Why blame Thais when you can blame foreigners? 

[sweatalot]

30 minutes ago, colinneil said:

Bring it on, if you are here legit should not be a problem.

Many could do the same as me, 80% in a fixed term account, remainder being used for daily needs, pension paid in.

Just make sure the total between the 2 accounts is never below 800.000 .

they don't accept money in a fixed term account. It has to be in a current account.

[dcnx]

45 minutes ago, NCC1701A said:

for god's sake get a clue and just put the 800,000 baht in the frickin' bank and be done with it.

That’s an awful way to handle 800k when it could be making money for you.

 

Perhaps it is you that needs a clue.

[thequietman]

49 minutes ago, stanleycoin said:

Oh no, thats torn it for many. !!!!!!!!!!!!!!!!

Think they meant bent immigration officers as well. 

Correct!

Statement needs to show seasoned money in bank for 3 months. immigration officer can easily check this, so if it gets through ...... it is the IO being dishonest and so should be punished.

 

However, passing the buck is a national pastime here.

[wgdanson]

19 minutes ago, Snow Leopard said:

Good way of thinking

If the seasoning period becomes 3 months, as it is for the Extension money, but you have to show it is there every 90 days..................Be careful which months it is.    LOL 555