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

[Myran]

And once again the cheaters ruin it for the rest.

[BritManToo]

11 minutes ago, HalfLight said:

And a renewal trip every 3 months?

It's much more fun than CM immigration.

[NCC1701A]

7 minutes ago, barefootbangkok said:

which means many many more empty condos, defaulted mortgages and consequently, possible bank failures.

for every Farang from the west there are 100 communist Chinese ready to step in and assimilate everything just like the borg. 

 

 

 

[HalfLight]

6 minutes ago, bkk6060 said:

Well, expats cannot get a mortgage.

Nice try.

Anymore doom and gloom ideas??

I imagine a Thai wife or gf can though, if the monthly money is put up by a foreigner. No fear of the banks failing though, even if they are under Thai management. The margin between borrowing and lending ought to make sure of that.

 

Except Siam Commercial, who are due to close ⅓ of their branches this year.

[garyk]

1 minute ago, NCC1701A said:

for every Farang from the west there are 100 communist Chinese ready to step in and assimilate everything just like the borg. 

 

 

 

Not sure how that was intended, but that pretty much hits the nail on the head IMO. 

 

[dcnx]

16 minutes ago, Lovethailandelite said:

 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.

I agree with you. And being as xenophobic as the Thais are on top of their general backwards thinking, they won’t make it as obtainable as Malaysia. You’ll always be living on quicksand here.

 

Most people don’t want to believe the inevitable, especially when they have invested everything, be it tied down with a family or living pension payment to pension payment, when you put all of your eggs into one basket you have no choice but to stick your head in the sand and hope for the best. 

 

 

[notamember]

2 hours 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. 

 

i agree, still waiting for mandatory insurance that was first mooted 5 years ago and again recently.

Just fodder for Thiavisabeleivers..

[Rhys]

Somebody in Immigration needs a major BJ....

[MikeOKitches]

1 hour 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.

 

 

I concur 100% with your comment, Chippy151. I've always maintained that the current regime in charge of Thai government
doesn't want any foreigners living here.  The regime grudgingly tolerates us due to the financial contributions we make to the
country's economy. There are certainly better places to live as a retiree and spend money. Speaking for myself, I'm exploring 
Cambodia as an alternative. 
 

[notamember]

2 hours ago, Jingthing said:

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

or maybe its just propaganda to lift Thai visa click count?

[notamember]

2 hours ago, jabis said:

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

certainly increase Thai Via traffic.......

[GeorgeCross]

this has got to be the most ridiculous thing ever. seriously why stop at every 90 days? i mean if you want to be thorough make all expats check in everyday with their bank books!!

 

or.. instead of throwing the blame around at everyone but themselves, pay some guy to sit at a desk and review every extension where the seasoning requirement was waived.

 

too many in one office? investigate. too many from one officer? investigate.

 

and for bonus points and to be really Thailand 4.0 put it all in a database and have an incorruptible algorithm check instead!

 

why do they always have to make our lives harder to fix THEIR own problem? (thats rhetorical btw)

 

sad.

 

 

 

[stanleycoin]

27 minutes ago, notamember said:

liars on declarations started it, you only have yourselves to blame

 

what ever mate.

They could have just left it all a lone.

All its done is give Immigration a new way to get money off people in the long run.

 

BTW , it don't affect me in anyway what so ever.

But i do feel sorry for the old guys who have spent there life savings , supporting Thai citizens, and Thai males illegitimate children. 

But i guess i'm not all heart like you. 

 

 

 

 

[NCC1701A]

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.
 

18 minutes ago, wobalt said:

Utter nonsense


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

care to elaborate?

[Lovethailandelite]

25 minutes ago, BritManToo said:

So get a non-o from Suvannakhet.

You think there and Hanoi and no need to show funds is not coming to an end?.....Watch this space.

[VincentRJ]

I find most of the posts in this thread very confusing. As I understand, with this new rule which is being proposed, single retirees have two options. 
(1) Have a consistent amount in a Thai bank of at least 800,000 Baht, which one is required to show every 3 months, but no need to show any regular income.
(2) Or, show an income of 65,000 Baht per month, which amounts to 780,000 Baht a year, which is close enough to 800,000.

 

If I were a retiree in Thailand, I'd definitely prefer the first option. I'd place the 800,000 Baht in a fixed term deposit account with an interest rate of probably around 1.75% per year, which is not quite as good as Australian interest rates, but still earns around 14,000 Baht per year.
If I were to decide to retire in Thailand, and I'm still considering it, I would not want to spend even nearly 65,000 Baht per month on living expenses. Half that amount would be sufficient because I prefer to live in the countryside where the cost of essentials is much lower than in Bangkok and the people much friendlier.

 

I always remember the cost of a lovely meal I had in a bar/restaurant in Mae Hong Son a few years ago. I had a very tasty Green Curry Chicken with a bowl of rice and a Chan beer. The total cost was 80 Baht, and that was when the Australia dollar was worth 30 Baht. I was amazed that I could have a complete meal for less than the cost of a single cup of coffee in Australia.

 

The main obstacle affecting my decision to retire in Thailand is a health concern about pollution. The effects of annual 'burn off' are very noticeable in Mae Hong Son, and that's a much greater deterrent than issues relating to the frequency of showing an 800,000 Baht bank balance.

[MikeOKitches]

39 minutes ago, DrTuner said:

The Purge - Thai version. Bad Farangs out (they are all bad) - Good Chinese in.

You jest perhaps, but there may be a modicum of truth to your statement.  

[dcnx]

28 minutes ago, ChouDoufu said:

how will this drive out the corruption and the use of agents?  i'd expect the opposite.

 

now some gots to visit the agent 3-4 more times a year to get their 800k seasoned.

It won’t fix anything and it’s probably not meant to. Good agents have deep connections with people who make decisions at various immigration offices. Nothing is going to change with that system other than a few more pages of false paperwork being added to the stack.

 

Corruption IS Thai culture. It’s not going anywhere. They just don’t like to call it by that name. 

[onera1961]

If no seasoning is required, showing 800K every three month is not a problem. You draw down for three month and then top it up before 800K verification. But it is a hassle every three months going to immigration. What about people who don't stay in Thailand through out the year like me? What happens if somebody does not show up for 90-day report because they are not in the country? Does it get reset like 90-day reporting. So many issues they have to resolve before they can put this in practice. By 2034, Thailand will be asking for Malaysian style retirement requirements. Good for them. 

 

[HalfLight]

10 minutes ago, MikeOKitches said:

I concur 100% with your comment, Chippy151. I've always maintained that the current regime in charge of Thai government
doesn't want any foreigners living here.  The regime grudgingly tolerates us due to the financial contributions we make to the
country's economy. There are certainly better places to live as a retiree and spend money. Speaking for myself, I'm exploring 
Cambodia as an alternative. 
 

As and when it becomes clear that somewhere else is a better bet then I'm gone, with Thai wife and family in tow. Laos seems lie a reasonable bet to see my days out in some semblance of peace. My wife and her sprogs are red-shirts and have had enough of Thailand and its culture and educational standards anyway, though I don't know how Laos will stack up. Perhaps they're all painted with the same brush.

[Thomas J]

With the difficulty in getting money transferred out of Thailand having any amount tied up is disconcerting.  Additionally assuming that you can earn 8% to 10% in the USA stock market annually the $800K tied up for the entire year makes for an expensive stipend to pay for the 1 year Visa. 

[MikeOKitches]

31 minutes ago, bkk6060 said:

Great!

Those without money and non qualifiers should go no free ride in Thailand.

Cambodia, Myanmar, Laos good options..

What exactly is the "free" ride you speak of in your comment? Honest question. 

[Lovethailandelite]

11 minutes ago, notamember said:

i agree, still waiting for mandatory insurance that was first mooted 5 years ago and again recently.

Just fodder for Thiavisabeleivers..

Boy have you got a big surprise coming!

[notamember]

49 minutes ago, Andrew Dwyer said:

You are forgetting the bank letter needed for extension are you not ?

this is 90 day reporting proposal we are talking about, that is this topics subject matter

not annual renewal, do keep up

so to be clear one time in four you would get a letter

happy?

[dcnx]

3 minutes ago, VincentRJ said:

I find most of the posts in this thread very confusing. As I understand, with this new rule which is being proposed, single retirees have two options. 
(1) Have a consistent amount in a Thai bank of at least 800,000 Baht, which one is required to show every 3 months, but no need to show any regular income.
(2) Or, show an income of 65,000 Baht per month, which amounts to 780,000 Baht a year, which is close enough to 800,000.

 

If I were a retiree in Thailand, I'd definitely prefer the first option. I'd place the 800,000 Baht in a fixed term deposit account with an interest rate of probably around 1.75% per year, which is not quite as good as Australian interest rates, but still earns around 14,000 Baht per year.
If I were to decide to retire in Thailand, and I'm still considering it, I would not want to spend even nearly 65,000 Baht per month on living expenses. Half that amount would be sufficient because I prefer to live in the countryside where the cost of essentials is much lower than in Bangkok and the people much friendlier.

 

I always remember the cost of a lovely meal I had in a bar/restaurant in Mae Hong Son a few years ago. I had a very tasty Green Curry Chicken with a bowl of rice and a Chan beer. The total cost was 80 Baht, and that was when the Australia dollar was worth 30 Baht. I was amazed that I could have a complete meal for less than the cost of a single cup of coffee in Australia.

 

The main obstacle affecting my decision to retire in Thailand is a health concern about pollution. The effects of annual 'burn off' are very noticeable in Mae Hong Son, and that's a much greater deterrent than issues relating to the frequency of showing an 800,000 Baht bank balance.

Pollution is one of the reasons we’re leaving. It’s not getting better and there is no light at the end of the tunnel. It didn’t bother me in the past but I’ve been in the hospital twice in the last 12 months because of it. Both times the doctors have told me that pollution related illnesses are also increasing. 

 

Our health is important. That’s all we have. Visa issues are one thing, but my health is another and much more important than whatever positives I can find in Thailand, positives that are diminishing.

[freedomnow]

Haha. ????

Thailand must come first place in the world for immigration rule amendements. For some it must be speeding along hairloss. At this point, it all gets too exasperating.

 

Mercurial rule system, reflecting the mercurial nature of Thais.

[notamember]

46 minutes ago, sumrit said:

The bank letter only confirms you have a valid account, it doesn't show details. It's your bank book/statement which the IO uses to show the details of money flowing through the account.

no it does not 

 

 

[totally thaied up]

32 minutes ago, NCC1701A said:

"It is so boring working at immigration. I wish we could have some fun."

"I have an idea. Lets talk some shit about 800,000 baht and watch the Farangs heads explode."

 

 

No. Lets float 50 drones in the sky ... I think that is 'head exploding material' 

 

35 minutes ago, HalfLight said:

And a renewal trip every 3 months?

I have not been out of Thailand for three years now. I am not really worried about the 400K but just the additional trips to Immigration. Chiang Mai Immigration is not that user-friendly and just putting a day out to go in is just a real pain in the ass. I just spend down a 100K at a time and then bring in cash. Easy. 

 

The big picture is if I was single, I would not be doing Thailand any longer and I think a lot of single guys are going to say this. I could easily float between Philippines, Vietnam, and Cambodia and just do a trip into Thailand for a month at a time to get my fill of Thai food.

[bkk6060]

11 minutes ago, VincentRJ said:

I find most of the posts in this thread very confusing. As I understand, with this new rule which is being proposed, single retirees have two options. 
(1) Have a consistent amount in a Thai bank of at least 800,000 Baht, which one is required to show every 3 months, but no need to show any regular income.
(2) Or, show an income of 65,000 Baht per month, which amounts to 780,000 Baht a year, which is close enough to 800,000.

 

If I were to decide to retire in Thailand, and I'm still considering it, I would not want to spend even nearly 65,000 Baht per month on living expenses. Half that amount would be sufficient because I prefer to live in the countryside where the cost of essentials is much lower than in Bangkok and the people much friendlier.

 

Your post is all about what you want.

You are exactly the person they would like to get rid of.

Coming here with a "living on the cheap" mindset living in the countryside.

They do not really want or care about you being here.

Hope you can figure it out...

 

[somtumwrong]

The era of the low class hansum man with no manners and no money is over. Get over it, people! The era has changed. They want good people in, bad people out. If you can't afford it, go home. You don't have the right to stay in the country. It's their country. Solly.