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

[Pib]

I'm somewhat amazed this order was issued 18 Jan but it's only coming to light today/31 Jan.

[DrTuner]

29 minutes ago, Naamblar2014 said:

If all they want is to keep your money in Thailand and not allow you to use your money,  why not just make the annual ext fee 400,000 baht. Ridiculous I know,  but how many would stay if they came out with that self serving ...well all I can call it is corruption.   In essence they are forcing you to commit money that you can't use and at a time when exchange rates favour their economy. Total buffalo caca.

It's 100k/y, the PE visa you get when you join the Elite program, minimum 5 years so coughing up 500k will get you 5y. It's what they are progressing towards. More honest, but grossly overpriced. 

[baansgr]

12 minutes ago, MrPatrickThai said:

Do you think it is easier for Thai pensioners to live in your country?

 

Ive always thought the requirements here were very fair and straightforward compared to Thais wanting visas elsewhere, so I understand your comment. However over the past few years, the ridiculous requirements for a dependent visa regarding photos of different clothes etc and being kicked back 2 or 3 times I changed to the easier option of retirement, also as gave up working, Now a retirement extension isnt about showing funds for living, its about having X amount savings PLUS extra funds to live on. In effect they have increased the extension amount required to 1.2 Million Baht. There isnt any logic, the same as online 90 day reporting, that defeats the whole object of being at your registered address at that time. This is going to create a lot of problems for genuine people that at present do everything by the book and will in turn cause many to leave Thailand for good. The animosity shown from a few posters as usual on this subject, lets just see if one day they have to delfe into their savings and go under 400k for one day then loose their extension...maybe then they will think differently

[DrTuner]

16 minutes ago, arithai12 said:

Oh my, 12 years? They do have long queues at Jomtien.

It felt like 24.

[MrPatrickThai]

9 minutes ago, Orton Rd said:

There is no such thing as karma, 

So you know more than half the world, including the Dalai Lama and other spiritual leaders? 

 

I'd love to meet you, oh wise one.

[BestB]

8 minutes ago, MrPatrickThai said:

Could you repeat that in a comprehensible way? Are you talking about International Unis here? One of my sons went to ABAC. My other kids went to Unis in the UK. 

Just quoting what you said and you said foreign unis.

 

If you struggle, can always use google translate

 

I guess its hard to comprehend when you spouting quite a bit of BS ????

[ocddave]

1 minute ago, MrPatrickThai said:

So you know more than half the world, including the Dalai Lama and other spiritual leaders? 

 

I'd love to meet you, oh wise one.

To be fair here, Karma is not revenge, justice, or punishment. I think the Dalai Lama would agree.

[MrPatrickThai]

2 minutes ago, baansgr said:

Ive always thought the requirements here were very fair and straightforward compared to Thais wanting visas elsewhere, so I understand your comment. However over the past few years, the ridiculous requirements for a dependent visa regarding photos of different clothes etc and being kicked back 2 or 3 times I changed to the easier option of retirement, also as gave up working, Now a retirement extension isnt about showing funds for living, its about having X amount savings PLUS extra funds to live on. In effect they have increased the extension amount required to 1.2 Million Baht. There isnt any logic, the same as online 90 day reporting, that defeats the whole object of being at your registered address at that time. This is going to create a lot of problems for genuine people that at present do everything by the book and will in turn cause many to leave Thailand for good. The animosity shown from a few posters as usual on this subject, lets just see if one day they have to delfe into their savings and go under 400k for one day then loose their extension...maybe then they will think differently

True but think about it, 400k can't even buy you a decent new car. 

I blame the internet and dating agencies for naive older gentlemen being fooled into thinking they can go gallivanting around the globe with no risk.

[Justin Side]

2 minutes ago, MrPatrickThai said:

So you know more than half the world, including the Dalai Lama and other spiritual leaders? 

 

I'd love to meet you, oh wise one.

Of course there is no such thing as karma.

Superstitious nonsense.

[BestB]

8 minutes ago, moto77 said:

I think he doesn't know that international universities and foreign universities are two different things. 

I would keep away from thinking, It is not your forte

[MrPatrickThai]

Just now, BestB said:

Just quoting what you said and you said foreign unis.

 

If you struggle, can always use google translate

 

I guess its hard to comprehend when you spouting quite a bit of BS ????

I said I supported kids here and some went to foreign universities. Are you French or something? 

[Kenny202]

 
agents will simply earn more money and get to charge for the use of the 800,000 baht loan four times a year now, instead of just the once at renewal time
only thing needed now is for the agents IO to set the tariff for this now 90 days-3 monthly show and tell service
Happy days for many.....
 

The thing I dont understand, and no one seems to mention is the "agents" basically only source customers for corrupt immigration officials. They cant simplt deposit 800k for a day withdraw it, get a statement and all good. This they may do but it still has to be processed by someone on the inside. Why dont they address the real issue. I recently got (after much hassle and chafing) an extension based on having a Thai child. They just didnt want to do it trying to push me in other directions, more beneficial to them

Sent from my SM-J730GM using Thailand Forum - Thaivisa mobile app

[mlkik]

How much is the equivelent of 800.000 baht in your own countries currency ? Could people from another country come and live in your country for that amount deposited in a bank account ?

Not in the UK where I am from.  What is is it with people who think there own country should be tough on immigration but when they are in Thailand they play the poor victim?

[MrPatrickThai]

2 minutes ago, ocddave said:

To be fair here, Karma is not revenge, justice, or punishment. I think the Dalai Lama would agree.

It's getting your just desserts, and anyone who says it doesn't exist is very closed-minded and arrogant.

 

[Nanaplaza666]

2 hours ago, mlkik said:

800.000 baht is not very much if you genuinely have retired and have committed to living in Thailand.

Maybe the people getting worried do not really have enough to retire here? I know many people worry about the exchange rates,if that is the case again maybe they are not financially ready for retirement here?

I am far from being well off but I have put enough money in a Thai account to ensure a worry free retirement.

Interest rates here are no worse than my home country. I am not wealthy enough to speculate and possibly lose on the investment of stocks and shares . Therefore I see no reason not to have savings here.

 

You are far from well off but have enough money for a worry free retirement ???? 

[BestB]

Just now, MrPatrickThai said:

I said I supported kids here and some went to foreign universities. Are you French or something? 

Perhaps lack of education is the reason for your troubles, let me quote exactly what you said

 

"Nobody can support a family here on less that 100k  a month. I know as I've lived here for 30 years and put my 4 children through decent schools and foreign unis."

 

So since when Thailand has foreign "unis"?

[Swedenlars]

Welcome to the Philippines !

I'm here already. Unfortunately there are more and more  expats coming and prices are up. But much more freedom than in the land of FALSE smiles. The standard of living is better in Thailand. But the Philippines are catching up a lot. Immigration no problem, everybody speaks English and the people are very friendly.

[Wake Up]

Now some of you guys that gripe daily about Thailand have a real reason to leave. You can’t afford to live here. Please stop posting when you move to shi@@ Cambodia or Panama or Mexico or whenever you live in the cheap. The rest of us living here and paying our way will be just fine. ????

[MrPatrickThai]

2 minutes ago, mlkik said:

How much is the equivelent of 800.000 baht in your own countries currency ? Could people from another country come and live in your country for that amount deposited in a bank account ?

Not in the UK where I am from.  What is is it with people who think tbere own country should be tough on immigration but when they are in Thailand they play the poor victim?

These old guys become like kids when they come here, expecting someone to look after them

[Justin Side]

2 minutes ago, mlkik said:

How much is the equivelent of 800.000 baht in your own countries currency ? Could people from another country come and live in your country for that amount deposited in a bank account ?

Not in the UK where I am from.  What is is it with people who think tbere own country should be tough on immigration but when they are in Thailand they play the poor victim?

Rubbish.

They let people stay here for years and then pull the rug from under them.

Shameful.

[ocddave]

2 minutes ago, mlkik said:

How much is the equivelent of 800.000 baht in your own countries currency ? Could people from another country come and live in your country for that amount deposited in a bank account ?

Not in the UK where I am from.  What is is it with people who think tbere own country should be tough on immigration but when they are in Thailand they play the poor victim?

I think its more about the constant changing of the rules, not to mention the many different immigration offices handling things differently. Put it in stone, like the 10 commandments, then stop playing games.

[jackdd]

Just now, mlkik said:

How much is the equivelent of 800.000 baht in your own countries currency ? Could people from another country come and live in your country for that amount deposited in a bank account ?

Not in the UK where I am from.  What is is it with people who think tbere own country should be tough on immigration but when they are in Thailand they play the poor victim? 

I explain it to you as easy as possible:

Thailand: People are poor. Many people want to go to rich countries to work illegally.

Western countries: People are rich. They usually don't go to poor countries to work illegally.

So western people can stay in Thailand more easily than Thai people in western countries.

[Griffo63]

With so much chatter on this forum about agents and how to get round the 800k seasoning is it any surprise that the authorities want to clamp down. You've only yourselves to blame 

 

[BestB]

1 minute ago, Swedenlars said:

Welcome to the Philippines !

I'm here already. Unfortunately there are more and more  expats coming and prices are up. But much more freedom than in the land of FALSE smiles. The standard of living is better in Thailand. But the Philippines are catching up a lot. Immigration no problem, everybody speaks English and the people are very friendly.

Food is crap and every girl thanks god while being screwed. Otherwise all good ????

[lamyai3]

39 minutes ago, ocddave said:

So Like I stated, we should hammer the Thai's back with tit-for-tat immigration hassles, maybe then we will get better treatment. Enough of them head to the US to further their education, and even military travel there to visit, or train with our military.....hammer them with hassles, then see how quickly things change.

This is what foreign countries have been doing for years. There's an unhealthy element of payback involved in the current changes, escalating won't solve anything. 

[TallGuyJohninBKK]

16 minutes ago, skatewash said:

Lump Sum:  each year to top up to 800,000 baht (about $10,000) costs $10 Bangkok Bank NY Branch fee + currency conversion fee assessed in Thailand of 500 baht.  Total: $10 + 500 baht = 815 baht (approx.)

 

If you're referring to current ACH transfers thru BKKB New York, then of course, that domestic ACH method is going to be closed starting this April as previously announced... leaving only regular wire transfers in its place.

 

[MrPatrickThai]

2 minutes ago, BestB said:

Perhaps lack of education is the reason for your troubles, let me quote exactly what you said

 

"Nobody can support a family here on less that 100k  a month. I know as I've lived here for 30 years and put my 4 children through decent schools and foreign unis."

 

So since when Thailand has foreign "unis"?

What troubles?

 

I have lived here for 3 decades and supported a family. My kids went to schools here. 3 of them went to foreign(well one is still going) unis. I never said Thailand has foreign unis. 

 

Do you think supporting a family here means that they must be in your house the whole time? Sigh...  

[Genericnic]

3 minutes ago, Swedenlars said:

Welcome to the Philippines !

I'm here already. Unfortunately there are more and more  expats coming and prices are up. But much more freedom than in the land of FALSE smiles. The standard of living is better in Thailand. But the Philippines are catching up a lot. Immigration no problem, everybody speaks English and the people are very friendly.

And they have a president that is even crazier than ours.

 

David

 

[madmen]

most here have a wife and kids, not to mention supporting the relatives as well......I see a lot of broken families and divorces as well

I don't know anyone with wife and kids. I think most don't have wife and kids

[TheThai]

The simple solution is to put the equivalent of 800,000 into a bank account in your home country and simply send 65k a month to a bank in Thailand.  You then meet the 65k a month income requirement and problem solved.