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

[how241]

44 minutes ago, Thomas J said:

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. 

Many years you can get that 8-10% in the stock market  but last year was far away from that number. 

[NCC1701A]

4 hours ago, Father Fintan Stack said:

Hope those affected have their Plan B ready. 

I met Plan B in Cambodia last year. I am trying to remember her name.

[TallGuyJohninBKK]

2 hours ago, sumrit said:

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

 

Agents wouldn't exist in the way they do now if corrupt immigration officers didn't agree to waive or bend the rules, such as not requiring real 3 months seasoning of bank deposit funds and other similar things for agent-based applications.

 

The root problem here is corruption in the Immigrant ranks.  If they played by their actual rules, nobody would be getting away with one-day in and out bank deposits.

 

But, corruption within Immigration seems to be a problem BJ is unwilling to tackle head-on.

 

[notamember]

18 minutes ago, Andrew Dwyer said:

Don’t you read the OP ?, you have to show a bank statement !

 

No mention of passbook !

yes i did read and this is about showing the 800k at 90 day check in nothing else

itys one or the other, not both..

.

this is about a proposal that those with the 800,000 in the bank having to show its still there with every every 90 days report

so after the initial show and tell with money in bank with letter

the extension is granted, then the agent takes it out

3 months later when 90 days is due then you show up at agent and agent deposits 800,000 again, and updates passbook.

agent withdraws 800,000 by ATM transfer and does not update bankbook

you go to immigration with the passbook, do the 90 days, show the bankbook

all done for 3 months

update book if you wish ot leave it to still sow 800,000 in bank for next 3 months

rinse, repeat..

 

[overherebc]

15 minutes ago, notamember said:

i will bet you 10 baht to 1000 that this will never happen

Agree, but it's fun so far.

Let's try a sort of summary!!

800,000 in the bank on 1/1/xxxx and no definite way to prove any income that is acceptable.

This means back to Imm' say 1/4/xxxx to show 800,000 still in the bank.

Or

800,000 in the bank on 1/1/xxxx and provable income of xxxx a month so, no need to show 800,000 on 1/4/xxxx. How much will be considered acceptable?

 

If provable income is 65,000 a month plus then you shouldn't need 800,000 in the bank.

 

Will all Imm' offices have conditions standardised.

 

Will we sell up and move to Spain, Italy or France?

Most likely. ????????????????

 

[notamember]

28 minutes ago, Lovethailandelite said:

You have just proven once again why there will be a bond system plus income very soon.
You simply don't learn

and you will lose your bet

[owl sees all]

When I first moved to Isaan, the Nong Khai office was the best one to go to. They were satisfied with an ATM receipt showing the dosh. A couple of years later I moved, and the office was at Udon Thani, at the airport. What a nightmare it suddenly became. Even doing it straight it was made so difficult.

[notamember]

26 minutes ago, Myran said:

No, the other cheaters who use agents to circumvent the requirements. Did you miss what this topic is about?

i did but there was no reference in the OP about cheaters

you opened that can of worms...

[youreavinalaff]

3 minutes ago, notamember said:

yes i did read and this is about showing the 800k at 90 day check in nothing else

itys one or the other, not both..

.

this is about a proposal that those with the 800,000 in the bank having to show its still there with every every 90 days report

so after the initial show and tell with money in bank with letter

the extension is granted, then the agent takes it out

3 months later when 90 days is due then you show up at agent and agent deposits 800,000 again, and updates passbook.

agent withdraws 800,000 by ATM transfer and does not update bankbook

you go to immigration with the passbook, do the 90 days, show the bankbook

all done for 3 months

update book if you wish ot leave it to still sow 800,000 in bank for next 3 months

rinse, repeat..

 

There is nothing in the report that says anything about being tied to the 90 day report. In fact the report says "every 3 months".

[how241]

3 hours ago, dcnx said:

3 hours 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.

I don't agree as I have been here for the past 10 years and always the Thai banks were paying  higher rates than the USA banks.  UNTIL the last 8 months or so where the USA had raised up rates and Thailand has not followed suit.  I am still getting 1.3%  on a totally liquid savings acct. at TBM.  Now the USA will pay 2% or a little more for the top rate liquid accts.  A person would not have done bad by keeping the 800K  in a high rate Thai savings acct. Totally liquid and  NO taxes to pay.

[BritManToo]

1 hour ago, Lovethailandelite said:

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

I might be dead by then, why worry about what might happen in the future?

Or I could just pay the 25k.

 

 

[PatOngo]

17 minutes ago, cnx101 said:

Vietnam genuinely friendly people cheaper cost of living and DaNang clean air great climate.


Sent from my iPad using Thaivisa Connect

From Thua Thien (Hue) to Khang Hoa (Nha Trang) is some beautiful coastline but prone to typhoons. Hanoi is great!

[notamember]

14 minutes ago, zydeco said:

But you will still need to go to Chaeng Wattan every 90 days, get bank statements the same day, and wait in line all day long to get approved. And what happens if you are out of the country around the 90 day bank account check? Must you organize your entire life around this?

do not want to show and tell?

Simply leave the country every 89 days and reset the 90 day report clock

rinse, repeat....

 

[chickenslegs]

4 hours ago, webfact said:

the move is one of a number of measures being considered by immigration chiefs to stop the practice of foreigners paying back-handers to visa agents to create fraudulent bank statements which are then submitted when applying for retirement visa extensions.

No need to inconvenience the honest applicants. Just carry out a thorough investigation of a few agents/clients/Immi officers, prosecute them and give them a few months in prison.

 

Repeat the process every few weeks until they get the message.

[youreavinalaff]

3 minutes ago, notamember said:

do not want to show and tell?

Simply leave the country every 89 days and reset the 90 day report clock

rinse, repeat....

 

I say again, there is nothing in the report that links this possible new requirement with the 90 day report. It says "every 3 months".

[madmen]

I bet a few cornflakes get spat over that line!

People who can afford corn flakes here don't visit threads like these

[notamember]

14 minutes ago, Lovethailandelite said:

Fail...you will need to update the bank book plus or bank statements. Don't give up your day job to become a forger.

wrong the money is in the bank on the day of the report

no bank statements are needed under this proposal

you would be proving 800,000 in the bank to support your retirement status not by way of proof of income

its one or the other NOT both 

can get bank letter for 100 baht if needed when money is in 

then transfer back via ATM and do not update passbook

 

No one needs to forge anything , this can be done at a bank everyday, and it does

 

Frankly you are talking of something that you are misquoting but know very little about

 

[PatOngo]

2 minutes ago, chickenslegs said:

No need to inconvenience the honest applicants. Just carry out a thorough investigation of a few agents/clients/Immi officers, prosecute them and give them a few months in prison.

 

Repeat the process every few weeks until they get the message.

They kill 20,000+ on the roads every year and still don't get the message, prison time for them is free food.

[mlkik]

2 hours ago, Thailand said:

Time for one of those polls, how many retirees here could put 800K in the bank as dead money, in addition show 65K a month in income. That appears to be what they are saying. In addition an extra 4 visits a year to immigration to show you have not spent spent the 800K,seriously?

I do not see it as dead money I see it as the means to secure a quick,worry free gauranteed extension of stay for retirement purposes.

The interest is at least no worse than the rate in my home country and as others have mentined it is there if an emergency crops up.

 

[zydeco]

1 hour ago, onera1961 said:

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.

Yes!!!!!

[rott]

After all that time and money spent implementing online reporting now "some" will not be able to use it.

[notamember]

12 minutes ago, youreavinalaff said:

There is nothing in the report that says anything about being tied to the 90 day report. In fact the report says "every 3 months".

90 days or 3 months, you are going to go to immigration anyway to do a 90 day report which you can do 15 days early or 7 days late (including due date)

so despite your nit picking the dates could be coordinated into one trip on a date of your choosing

90 days or 3 months after the visa extension was granted

ok now?

[Mansell]

3 hours 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.

Thanks for your worthless opinion. Now go back to your little world of what everybody else should be doing just because you did it.

[youreavinalaff]

Just now, notamember said:

90 days or 3 months, you are going to go to immigration anyway to do a 90 day report which you can do 15 days early or 7 days late (including due date)

so despite your nit picking the dates could be coordinated into one trip on a date of your choosing

90 days or 3 months after the visa extension was granted

ok now?

But you said that you could avoid going by resetting the 90 day report by leaving the country. That appears to be incorrect as reporting 800k in the bank is not related to 90 day report. That is not nit picking but fact.

 

[elliss]

4 hours ago, Prairieboy said:

So it would effectively lock in the 800,000 - some retirees are able to use that money for a large portion of the year. {quote }

 

     Some retirees, were  able  to use that money.  That is the thinking behind , this new hurdle.

     A good  earner for the  agents , farang  pays for the  dodgey D visa , every three mounths . TAT

     

 

 

[notamember]

11 minutes ago, chickenslegs said:

No need to inconvenience the honest applicants. Just carry out a thorough investigation of a few agents/clients/Immi officers, prosecute them and give them a few months in prison.

 

Repeat the process every few weeks until they get the message.

will the IO be in the same cells? i think not

then think on, do you really think an IO wants his or her agent in custody?

after all they know where all the bodies are buried....

 

[owl sees all]

7 minutes ago, notamember said:

wrong the money is in the bank on the day of the report

no bank statements are needed under this proposal

you would be proving 800,000 in the bank to support your retirement status not by way of proof of income

its one or the other NOT both 

can get bank letter for 100 baht if needed when money is in 

then transfer back via ATM and do not update passbook

 

No one needs to forge anything , this can be done at a bank everyday, and it does

 

Frankly you are talking of something that you are misquoting but know very little about

 

Surely the amount to be shown every 3 months should be 200k. A bit rotten to expect 800k to lie dormant in a Thai bank (forever us do part), and still need a monthly spend.

[Jonathan Fairfield]

UPDATE: Foreigners now need to keep 800k in Thai bank for three months AFTER retirement extension is granted

 

Please continue discussion here: https://forum.thaivisa.com/topic/1081671-foreigners-now-need-to-keep-800k-in-thai-bank-for-three-months-after-retirement-extension-is-granted/