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

[garyk]

6 minutes ago, GalaxyMan said:

Only the USofA is stupid enough to advertise...."Give us your poor..."

 

The only god in Thailand is money. It's the one thing they all understand equally.

Sadly, it is the only God anywhere in the world. The United States is the same. 

[sfokevin]

2 hours ago, garyk said:

Anyone else getting tired of the "I am so special and I want to brag about it brigade"  haha

You would think these people would be out playing golf instead of opining over Thaivisa’s immigration threads... 

[wgdanson]

1 minute ago, GalaxyMan said:

Nonsense. A foreigner cannot own LAND. It is perfectly legal to own a house.

I know, I edited my post. Cheers.

[Ctkong]

14 minutes ago, LivinLOS said:

Agreed..  

 

For me the showing I have funds is not the problem.. The problem is more oversight, more immigration visits, more scheduling times at thier whims, more 6am queues to show them a piece of paper they put in a file.. 

Of course it should not be missed that this happens as they introduce a 10 year retirement option.. So clearly the guys who can sit 3 mil in the bank, and leave half of it in Thailand, those guys have an easy ride. I am still 3.5 years away from a geezer visa but thats the route I will go for.. They are clearly making levels where they make life easy. 

The twisting and tightening of the law will take time and maybe by the time they make it unfavorable to retire in Thailand, the neighboring countries may have developed enough to ensure a comfortable retirement there. I am sure the Thai immigration is very aware of competition from her neighbors and will act accordingly. Problem is those countries will also up their ante albeit much later.   

[ubonjoe]

2 minutes ago, Olmate said:

If one used the income letter last November, what effect does this have?

No effect at all. It is only for using the money in the bank option not the income option.

[Tanoshi]

44 minutes ago, smedly said:

and it is 3 months before and 3 months after unless it is first application - seasoning has gone up to 6 months - which quite frankly is ridiculous for so many reasons

Not according to the new order.

Quote

(4) At least 2 months prior to filing date, and at least 3 months after being granted permission, 

 

[Rugon]

wow 53 pages in half a day. More pensioners here than I thought! 

[Naamblar2014]

6 minutes ago, KiChakayan said:

Frankly I don't see why we need to panic that much. Last December 4 embassies decided, rightly, that it was unethical to issue unverified income certificates, and Thai immigration came up with a perfectly reasonable alternative. Interestingly amongst the thousands of post commenting the income letter change there were dozens of references to the bluntly illegal "agent alternative". 

So how could anyone complain about this new change of rules, which aims only at flushing out people who don't qualify for extension as well as the mafia of agents, possibly IOs who preyed on them. I don't see here any conspiracy to send of foreigners home, this is only a legitimate inclination to enforce the law.

Because they expect a certain amount of money on deposit for a specific time period to apply.  Fine.  Apparently this stops the agents putting money in an account an hour before extension and taking it back out ????.  So that system is really working.  So along comes another idea????.  They will have to leave the money after application for another three months.  So you effectively have been told that you cannot use YOUR own money now for 5-6 months.????  Apparently because they cannot get their own police to stop being corrupt and accepting bribes, they must further inconvenience immigration customers by putting onerous demands on when and how much of their money they can use.???? Then when you finally get to use your money,  they will only allow you to use half of it. ???? This beggars belief, what is the justification for that?

if they want the mafia agents and IO agents involved,  then go after them.  Lay off the old people who have been doing the right thing for years. This kind of idea is right up there with spraying sugary material from drones to tidy up air pollution.

[Lacessit]

IMHO this change will hit the Law of Unintended Consequences head on. There will be quite a few THAI lives wrecked because of it.

I was intending to buy a new car in the next couple of months. That's cancelled until I have some indication of whether the new regulation has continuity, or is just another step in the tightening of screws. I will be tightening the screws on my own spending, as I suspect a lot of other retirees who can still afford to stay here will.

Having said that, this change is far more acceptable to me than the proposed requirement for Thai health insurance, which I can't get anyway due to pre-existing conditions and age. That would drive me out of Thailand forever.

[smedly]

21 minutes ago, owl sees all said:

I used the services of an agent. When would I be asked to give details of the non-existent 800k; if at all?

I think just use the same agent, only difference now is you will require 2 visits and twice the fee

 

I fail to see how these so called new rules change anything - the backdoor will remain open if you are willing to pay - what's new ?

[Rugon]

14 minutes ago, wgdanson said:

So that will discriminate between condo owners and guys like me who have paid for a nice home for themselves and their family. But it would be a good idea.

A word of warning to those future guys like you -  RENT, don't buy.

[Peterw42]

3 minutes ago, Naamblar2014 said:

Because they expect a certain amount of money on deposit for a specific time period to apply.  Fine.  Apparently this stops the agents putting money in an account an hour before extension and taking it back out ????.  So that system is really working.  So along comes another idea????.  They will have to leave the money after application for another three months.  So you effectively have been told that you cannot use YOUR own money now for 5-6 months.????  Apparently because they cannot get their own police to stop being corrupt and accepting bribes, they must further inconvenience immigration customers by putting onerous demands on when and how much of their money they can use.???? Then when you finally get to use your money,  they will only allow you to use half of it. ???? This beggars belief, what is the justification for that?

if they want the mafia agents and IO agents involved,  then go after them.  Lay off the old people who have been doing the right thing for years. This kind of idea is right up there with spraying sugary material from drones to tidy up air pollution.

Great, and very accurate summery

[Naam]

1 hour ago, humbug said:

i for one want foreigners to live on this land, i 'dont' want less foreigners as its patronizing to every foreigner trying to live their lives. I will never be hoodwinked in believing the pension letters was the embassies fault or this retirement new requirements blame on agents or wealth. 

 

Its about a nationalist criminal gang backed by the chinese state having one of their booty boys keep looking at ways to reduce long term expats. An absolute disgrace in my eyes but some like you want this, which is perverse

humbug = nomen est omen!

[cnxnicho]

1 minute ago, Rugon said:

A word of warning to those future guys like you -  RENT, don't buy.

Look's like many cheap properties on the market soon, might be the time to buy !!

[wgdanson]

1 minute ago, Rugon said:

A word of warning to those future guys like you -  RENT, don't buy.

Too late for me mate. But I am happy, so no problem.

 

Who do you rent from....a falang who has already bought?   LOL

[KittenKong]

15 minutes ago, Naam said:

i'm not saying anything but quoting the chap who's girlfriend is not liable to do any 90 day reports.

I thought that people on Thai Elite visas had their 90-day reports done for them, as part of the package?

 

I know people here who have deposit-based retirement extensions done by agents, and they get their 90-day reports done for them as part of the extension package too.

[digger70]

Don't Worry Be Happy , BJ is playing a Joke at the cost of some poorer expats. I wait and see when I do my next extension. No good to lose sleep over this .   

[garyk]

1 minute ago, digger70 said:

Don't Worry Be Happy , BJ is playing a Joke at the cost of some poorer expats. I wait and see when I do my next extension. No good to lose sleep over this .   

Famous last words... haha

[giddyup]

2 minutes ago, nichopaulcnx said:

Look's like many cheap properties on the market soon, might be the time to buy !!

Condos maybe, houses  will usually be in a Thais name.

[Peterw42]

Just now, KittenKong said:

I thought that people on Thai Elite visas had their 90-day reports done for them, as part of the package?

 

I know people here who have deposit-based retirement extensions done by agents, and they get their 90-day reports done for them as part of the extension package too.

I think Thai elite 90 day is only available if you live in BKK

[Geoffggi]

12 hours ago, thequietman said:

I am not a retiree nor am I a pensioner but I really don't see what Thailand has to gain by all of this.

Foreign retirees here take nothing from the system and are offered nothing.

They pay their way and in NO Way are a burden to the system. They pay tax and probably more than Thai citizens and they support families and businesses. 

 

Why all the hate? Why all the rules? They take nothing from this country but give back daily. It is very confusing to say the least.

The above statement is absolutely correct, in addition, I would like to say I feel sorry for all the people who have children or support Thai families especially older people who have purchased homes either apartments or houses, raised families contributed to the Thai economy for many years and now face the possibility of having to leave the country because of these new regulations, in the UK Thais after I believe living in England for a period of five years can obtain a residence visa, here in Thailand you qualify for nothing, I have been married to a Thai lady for nearly 30 years and have absolutely no rights what so ever it is wrong.

[Rugon]

3 minutes ago, wgdanson said:

Too late for me mate. But I am happy, so no problem.

 

Who do you rent from....a falang who has already bought?   LOL

Glad you're happy. 

 

Actually I had a mortgage for 20 years, all paid now.

[Olmate]

13 minutes ago, ubonjoe said:

No effect at all. It is only for using the money in the bank option not the income option.

Thanx UJ

[BritManToo]

1 minute ago, Rugon said:

Actually I had a mortgage for 20 years, all paid now.

22 years left on my mortgage.

[Ctkong]

30 minutes ago, wgdanson said:

Are you saying that it is easier to buy a flight to somewhere, drive to the airport a couple of hours before departure, go thru security a couple of times, queue up to get on, sit in the plane for a couple of hours, queue up to get off, queue up for immigration, and then do it all again to come back....than to drive to the nearest immigration office to show your passport, or do it by post or online.

Not easier though. Thaielite do provide priority clearance and escort you to their contract lounge and pick you up for priority entry clearance when you arrive. Real reason for flying overseas is she likes to travel and this just figure nicely into her traveling plan. I of course just foot the bill. ????

[Spidey]

1 hour ago, Ctkong said:

Most Thais have extended families to count upon. Also they are not retired as yet unlike expat retirees. Moreover their living costs are lower. They don’t have the farang baggage of go go bars, western food and swimming pool- house.   

Neither do most farangs. I eat manly Thai food, don't frequent gogo bars and don't have my own swimming pool, yet my monthly living costs are well in excess of 70k baht. Maybe that's because, I provide a decent family home for my wife and son and send him to the best school that I can afford, unlike most Thais.

 

I know of several Thais who have their families living in a shed not fit for a dog, send their children to a government school, yet manage to drive around in a brand new Ford Ranger and pay regular visits to karaoke bars and/or manage to keep a mia noi in the life that she's accustomed to.

 

Don't accuse farangs of burning money that they don't have, Thais way outstrip them in that game.

[Naam]

2 minutes ago, KittenKong said:

20 minutes ago, Naam said:

i'm not saying anything but quoting the chap who's girlfriend is not liable to do any 90 day reports.

I thought that people on Thai Elite visas had their 90-day reports done for them, as part of the package?

 

I know people here who have deposit-based retirement extensions done by agents, and they get their 90-day reports done for them as part of the extension package too.

as the OP's girlfriend leaves 8 times a year Elite Visa would have a hard time to do her 90 day reports but possible if she lived on Jupiter or Saturn.

[Lacessit]

38 minutes ago, KiChakayan said:

Frankly I don't see why we need to panic that much. Last December 4 embassies decided, rightly, that it was unethical to issue unverified income certificates, and Thai immigration came up with a perfectly reasonable alternative. Interestingly amongst the thousands of post commenting the income letter change there were dozens of references to the bluntly illegal "agent alternative". 

So how could anyone complain about this new change of rules, which aims only at flushing out people who don't qualify for extension as well as the mafia of agents, possibly IOs who preyed on them. I don't see here any conspiracy to send of foreigners home, this is only a legitimate inclination to enforce the law.

I think you'll find the agents who are supplying a service to legitimate retirees will be increasing their charges, as there is more work involved in presenting the proof of bank funds post extension. And I'm not so naive as to believe illegal methods of circumventing retirement extension requirements will be eliminated, or that the agent mafia will cease to exist. This is Thailand.

[Longcut]

11 hours 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 there own country should be tough on immigration but when they are in Thailand they play the poor victim?

I have no problem playing by their rules. I have a problem with them constantly changing the rules.  They made a big announcement in December and everyone got used to that. Lots of people opened bank accounts or changed banks to accommodate Thai immigrations new rules. Now with only one month's notice, they change the rules again.  

[smedly]

14 minutes ago, Naamblar2014 said:

Because they expect a certain amount of money on deposit for a specific time period to apply.  Fine.  Apparently this stops the agents putting money in an account an hour before extension and taking it back out ????.  So that system is really working.  So along comes another idea????.  They will have to leave the money after application for another three months.  So you effectively have been told that you cannot use YOUR own money now for 5-6 months.????  Apparently because they cannot get their own police to stop being corrupt and accepting bribes, they must further inconvenience immigration customers by putting onerous demands on when and how much of their money they can use.???? Then when you finally get to use your money,  they will only allow you to use half of it. ???? This beggars belief, what is the justification for that?

if they want the mafia agents and IO agents involved,  then go after them.  Lay off the old people who have been doing the right thing for years. This kind of idea is right up there with spraying sugary material from drones to tidy up air pollution.

best post on this thread so far - 100% agree