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

[VocalNeal]

1 minute ago, dcnx said:

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

I don't think you can get 65,000 a month earnings from 800,000. If one has enough to generate 65,000 then it is not a problem.

[Thailand]

Just when you think things can't get worse here for many retirees in  LOS up comes another punch in the guts, hopefully only rumour.

[jacko45k]

3 minutes ago, sweatalot said:

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

Not true, a FD account is OK. Providing the money is accessible and a FD is, you only lose the interest.

[Mainhattencitizen]

47 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,!!!

Not even Big Joke will be able to stop the bribes

[colinneil]

4 minutes ago, sweatalot said:

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

They do if it is used along with another every day account, that is why i do it the way i do.

Some money in some out, and 650.000 in fixed term.

Just did my retirement ext on friday last week, no problem with bank accounts.

[luckyluke]

We, the ones who  still can obtain a " retirement extension " on base of a L.o.I., from our embassies/consulate, and with a monthly income of a minimum of 65000 ThB in our homeland, are not requested to transfer something at all to Thailand, if we don't wish to.

 

So far.

 

[dcnx]

23 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’m speechless. 

 

I hope you have so much money that 800k is like $8 to you. Otherwise, you’re a financial imbecile.

[jabis]

5 minutes ago, jacko45k said:

Not true, a FD account is OK. Providing the money is accessible and a FD is, you only lose the interest.

Why else keep any money in a fixed deposit, than accumulate interest? x) Tho 800k฿ won't get good rate, I think starting from 100M฿ (at least in SCB) you'll get 2.5-2.8% per year, minus the 15% tax if discontinuing. Well slightly off the point here...

Edited January 31, 2019 by jabis
typo

[Lovethailandelite]

19 minutes ago, Jingthing said:

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

Just remember that 103FM ia the SAME radio station that TVF members were calling out as fake news over the income affidavits. I told you at the time and I say again, 103FM NEVER run fake Immigration news. They have too much of a close working relationship with immigration AND the embassy's to do it.
If they are running this, you can be absolutely 100% certain these meetings and discussions have taken place.

[SkyNets]

I wish my home country was this hard/complicated to stay in!

[stanleycoin]

The other news today

 

Pattaya's condo market has crashed due to 40,000 ex-pats 

putting there condos on the market hoping to leave on the next available flight out.

Rumorer has it,  you can get a two for one deal now. 

Plus a free motor bike,  a Honda Sissy

 

 

Edited January 31, 2019 by stanleycoin

[ChouDoufu]

so this would mean online/mail 90-day reports go away.  have to make the 2-hour trip to immigration 5 times a year?  4 times for the 90-day reports and again for the annual extension?  plus 5 trips to the bank for guarantee letters?

 

that's assuming i don't leave my neighborhood, in which case another trip to immigration is required to report that i'm still living where i've been living for xx years.

 

any chance i'll need to show 800k in the bank when i file a tm-30?  surely there's a chance i took some money out of the country/province and need to prove i can support myself.

[Lovethailandelite]

Just now, dcnx said:

I’m speechless. 

 

I hope you have so much money that 800k is like $8 to you. Otherwise, you’re a financial imbecile.

 I have said before, Thailand is VERY close too implementing a Malaysian bond style system where a bond AND income is required. Nobody wanted to believe it.

[Chippy151]

Surely there are other and better places for retirees to live in. You are obviously being made less and less welcome.

Even if you do have sufficient funds etc., the overall attitude of the government is "we don't really want you here.

 

 

[ChipButty]

57 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,!!!

Tried that

[lamyai3]

46 minutes ago, JAG said:

Does "Fabulous FM" broadcast from under a bridge perchance?

Last time I heard of them was back in October, they were announcing the British Embassy changes to income letters as "Good News!" 

[jacko45k]

7 minutes ago, jabis said:

Why else keep any money in a fixed deposit, than accumulate interest? x) Tho 800k฿ won't get good rate, I think starting from 100M฿ (at least in SCB) you'll get 2.5-2.8% per year, minus the 15% tax if discontinuing. Well slightly off the point here...

You only lose that terms interest if you withdraw any money. The point being a current account is not the only option  for an extension as was stated.

[Jingthing]

4 minutes ago, Chippy151 said:

Surely there are other and better places for retirees to live in. You are obviously being made less and less welcome.

Even if you do have sufficient funds etc., the overall attitude of the government is "we don't really want you here.

 

 

Yes, exactly.

The situation has progressed from --

 

the writing is on the wall

 

TO

 

it's being blasted on loudspeakers in expat ghettos

 

TO

 

(figuratively could be literally) 

immigration police banging on your door

Edited January 31, 2019 by Jingthing

[dcnx]

5 minutes ago, VocalNeal said:

I don't think you can get 65,000 a month earnings from 800,000. If one has enough to generate 65,000 then it is not a problem.

No, you can’t. But you can put $25,000 to good use so it makes money instead of losing it.

 

Putting 800k in a Thai bank with zero interest for years on end is embarrassingly stupid.

 

But then again, so is marrying a bar girl or someone with a 6th grade education, and that doesn’t seem to stop most foreigners. Logic seems to get thrown out the window here.

[Thaidream]

5 minutes ago, Lovethailandelite said:

Just remember that 103FM ia the SAME radio station that TVF members were calling out as fake news over the income affidavits. I told you at the time and I say again, 103FM NEVER run fake Immigration news. They have too much of a close working relationship with immigration AND the embassy's to do it.
If they are running this, you can be absolutely 100% certain these meetings and discussions have taken place.

I H

 

6 minutes ago, Lovethailandelite said:

Just remember that 103FM ia the SAME radio station that TVF members were calling out as fake news over the income affidavits. I told you at the time and I say again, 103FM NEVER run fake Immigration news. They have too much of a close working relationship with immigration AND the embassy's to do it.
If they are running this, you can be absolutely 100% certain these meetings and discussions have taken place.

Have no doubt as to the veracity of the report. It appears the agent system is indeed being looked at but making  people come in every 90 days to  'reprove' their extension is not going to go very far.  Everyone who is here must have some type of income to pay rent; food etc.- I would assume they can show some type of legal  pension; stocks/bonds' rental income- but Thai imm needs to understand they will have to allow people to show their documents to prove income.  Forcing retirees to  transfer money as proof AND show 800K is overkill

 

There are plenty of ways to stop the agent  current practices if that is what they really want to do it- otherwise it becomes another game open to  abuse and forces  the majority of people who are honest into situations which are unfair for them and expensive and time consuming.

[wobalt]

Luckily my THAI wife left Thailand 26 years ago

[wgdanson]

27 minutes ago, sweatalot said:

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

Oh yes they do.

[dcnx]

9 minutes ago, Chippy151 said:

Surely there are other and better places for retirees to live in. You are obviously being made less and less welcome.

Even if you do have sufficient funds etc., the overall attitude of the government is "we don't really want you here.

 

 

It’s always been that way. It’s just now they are coming after those who thought they were secure. Jokes on them. 

 

”First they came for the socialists...”

[dcnx]

Just now, wgdanson said:

Oh yes they do.

Probably depends on which IO you go to and/or the current boss at said IO.

[stanleycoin]

Cheap Eggs out,  Expensive eggs in. 

 

[wgdanson]

24 minutes ago, VocalNeal said:

I don't think you can get 65,000 a month earnings from 800,000. If one has enough to generate 65,000 then it is not a problem.

If you had enough capital to generate 65,000 Bht a month, you should not be living here.

[sumrit]

1 hour 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..

And agents wouldn't exist if foreigners didn't use them to illegally stay in the country

[BritManToo]

3 minutes ago, dcnx said:

It’s always been that way. It’s just now they are coming after those who thought they were secure. Jokes on them. 

 

”First they came for the socialists...”

I don't think they are trying to drive anyone out, I think they are trying to collect 25k.

Same as the helmet and license checks, they don't really care if you have a helmet or license, they just want the 200bht.

Edited January 31, 2019 by BritManToo

[Lovethailandelite]

Just now, Thaidream said:

I H

 

Have no doubt as to the veracity of the report. It appears the agent system is indeed being looked at but making  people come in every 90 days to  'reprove' their extension is not going to go very far.  Everyone who is here must have some type of income to pay rent; food etc.- I would assume they can show some type of legal  pension; stocks/bonds' rental income- but Thai imm needs to understand they will have to allow people to show their documents to prove income.  Forcing retirees to  transfer money as proof AND show 800K is overkill

 

There are plenty of ways to stop the agent  current practices if that is what they really want to do it- otherwise it becomes another game open to  abuse and forces  the majority of people who are honest into situations which are unfair for them and expensive and time consuming.

I think once again, they want to see ACTUAL income monthly along with the 800k in a Thai bank. Other than that, my post was just to say, don't discount 103FM of spreading fake news. That is 100% not how they operate.

[wgdanson]

1 minute ago, dcnx said:

Probably depends on which IO you go to and/or the current boss at said IO.

As long as it is 'instantly' available. A Foreign Currency Account is also accepted (by my IO here)