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

[overherebc]

1 minute ago, PaceArrow said:

I'm not too happy about the changes either, however, everyone needs to read the entire order as there is more clarification that makes it a little more palatable if you're over 60!! See item 6 of the Police Order English Translation copy!!!

Where do we read it. Which post? We are on page 80 plus remember

 ????????????

[Genericnic]

3 minutes ago, overherebc said:

Where do we read it. Which post? We are on page 80 plus remember

 ????????????

page 1, post 1

 

David

[DrTuner]

7 minutes ago, PaceArrow said:

I'm not too happy about the changes either, however, everyone needs to read the entire order as there is more clarification that makes it a little more palatable if you're over 60!! See item 6 of the Police Order English Translation copy!!!

Yes if you entered before 1998, that's the old grandfathering rule. No such luck for newcomers over 60.

[elliss]

5 hours ago, wgdanson said:

Shhhhhhh. I make my own vino, but not ale.

     Wow , lucky you,  I used  to enjoy wine myself.

 Now i drink leo from a can , outside my local 7-11 ,  trying to forget my visa problems, sob sob .

    

[LucysDad]

6 minutes ago, elliss said:

     Wow , lucky you,  I used  to enjoy wine myself.

 Now i drink leo from a can , outside my local 7-11 ,  trying to forget my visa problems, sob sob .

    

 

 

That is sad.

 

You are sad.

 

 

At least try and retain some class, for goodness sake, and buy a bottle not the cans..........????

[statman78]

I am considering using the monthly transfer method. As I understand it, I need to transfer at least 65,000 baht into my account every month but at least I am able to withdraw some of the money as needed.  In early January I did my first retirement extension using 800,000 baht in the bank.  After approval I withdrew most of the money so noe my account is well below the amount required.  I hope that this only applies to extensions made starting after March 31

[Swedenlars]

39 minutes ago, totally thaied up said:

I lived in the Philippines for quite some time (married before to a Filipino) and you would need wild horses to drag me back to live there during the wet season. Hell, tying up 800K for a year is a bargain compared to putting up with typhoons, possible earthquakes and a lack of general infrastructure. I was in Bagiou City for a long time and compared to Thailand, it was very, very slow.

 

Sure, I could flip through living in these countries (Philippines Cambodia, Vietnam) just for a few months at a time, staying the best time of year if I where single. Like three months the Philippines, 3 months Cambodia, three months Vietnam and three months Thailand, but after a time you get sick of moving. I did this for a period of time (2009) and I could not do it permanently. Yet, if I was single now, I just might do this.

 

Thailand might cost, but for sticking put in one place and having not that many hassles, it is still pretty okay for the pick of SEA countries.

 

I am now just waiting for them to stick the boot into the marriage requirements and then, Immigration has got nothing left to change for a long time.

 

I mean, what else can they change?

I think you are not quite up to date when it come

[wgdanson]

6 minutes ago, statman78 said:

I am considering using the monthly transfer method. As I understand it, I need to transfer at least 65,000 baht into my account every month but at least I am able to withdraw some of the money as needed.  In early January I did my first retirement extension using 800,000 baht in the bank.  After approval I withdrew most of the money so noe my account is well below the amount required.  I hope that this only applies to extensions made starting after March 31

So now transfer 65k every month Feb to January, just before your next extension. Then you will have 12 x 65k and qualify....unless it all changes again next week. Of that money you can spend whatever you want/need. 

[Pattaya46]

2 hours ago, ginjag said:

Any ideas how to get the 800k out of a Thai bank if you ever leave.....

not your idea but the legal way to get it back to the UK.

Many possibilities :

- ask your Thai bank to transfer it to UK. They will ask you proof that you previously bring this money in Thailand, but after that it's just a few signatures and they will send it. (but fees and bad rate)

- use a Thai debit card in UK (Visa Card fees)

- take the cash from the bank; change it to your home currency (Superrich, Yenjit, ...); take the cash with you when you return UK

...

[TheThai]

I don't see the big deal .. if you put the equivalent of 800,000 baht in a bank in your home country and send the equivalent of 65k baht each month to a Thai bank account ... then you're good.  This way you don't have to worry about keeping the 400,000 balance in a Thai bank account or worry about how long the 800k has to sit in the Thai bank account

[Pib]

45 minutes ago, totally thaied up said:

I mean, what else can they change?

Maybe requiring medical insurance provided by a Thai company.  Seems the sky is limit lately.

[totally thaied up]

9 minutes ago, Pib said:

Maybe requiring medical insurance provided by a Thai company.  Seems the sky is limit lately.

Well, you need insurance but I think now with them holding 800K for five months and 400K for the rest of the time, you more or less have a bond now for health issues. My insurance paid out over 300K last year for Gallbladder Surgery and a 15 day stay in the hospital. If you're living here full time, you need at least a million baht for back-up. 

 

Thailand is starting to look at closing off loose ends now it seems. Seems, they are using 'money' as a way to clarify things for most retirees now. Either you got it or you don't. 

[madmen]

I think you don't know how the Philippines are ticking. Sure, this law text exits. But who cares. All of my friends live since years and years on a tourist visa in Philippines. Including myself. You get one month, then you extend your free visa and after 3 months you will get 6 months. After 2 months you will even get a ACR-I (ID card for foreigners). This is very helpful in daily life. (Bank, renting, travel etc). With the tourist visa you are allowed to stay up to 3 years. Then you do a 1 or 2 trip to i.e. Hongkong. So to cut the story short, almost nobody I know bothers to apply for this expensive and complicated retriee visa. But up to you, keep staying in the Big Joke land. We for ourselves don't miss this land of FALSE SMILES and feel sorry for all of you.

 

Gesendet von meinem SM-N950F mit Tapatalk

 

Who in their right mind is going to buy into a country that will deport you for being rude to government officials?

 

Maybe backpackers who could care less but this thread is about older singles and family's that may want to relocate.

 

And that nutter PM has made it legal for the public to kill drug dealers. Good luck if you upset your Filipino neighbour's.. [emoji24]

 

[Olmate]

1 hour ago, bkk6060 said:

Please grow up and go ask your immigration office the questions.

 

Can’t see any need for your stupid response, please explain?

[Badrabbit]

How will you prove that the 800k etc is in the bank for 3 months after? statement from bank each month?

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[overherebc]

10 minutes ago, Pattaya46 said:

Many possibilities :

- ask your Thai bank to transfer it to UK. They will ask you proof that you previously bring this money in Thailand, but after that it's just a few signatures and they will send it. (but fees and bad rate)

- use a Thai debit card in UK (Visa Card fees)

- take the cash from the bank; change it to your home currency (Superrich, Yenjit, ...); take the cash with you when you return UK

...

Depends on the bank. Also depends on how uneducated the Seniors are, you know, when you're retired ( means you can't work in Thailand ) and they say cannot do this or that without a work permit.

Go to your bank and say, I brought in 1 mil' baht last month but I need to transfer it back to UK or USA.

Let us know how you get on. ????

 

[Lacessit]

6 minutes ago, Pib said:

Maybe requiring medical insurance provided by a Thai company.  Seems the sky is limit lately.

Exactly. Never underestimate the capacity of any bureaucracy to make the complicated convert to the almost impossible.

There's a Russian skit where an ordinary citizen is applying for some permit, and the bureaucrat demands more and more documentation. As the citizen keeps producing the required documents, the bureaucrat becomes more agitated. At the final hurdle, the citizen produces yet another perfect affirmation. In despair, the bureaucrat pulls out a gun and shoots himself.

[gentlemanjackdarby]

6 hours ago, mokwit said:

Or in other words, if people were not grandfathered in both M and I changed the deal on people who could have made a major irreversible decision to retire there.

Speaking of Malaysia MM2H specifically, but I've found this true of other countries offering actual retirement visas in both SE Asia and Latin and South America, these countries look at the method of attracting retirees differently than does Thailand.

 

In Malaysia and the other countries at which I've looked offering an actual retirement visa rather than an extension of stay, all the 'qualifying', such as verifying financial bona-fides, criminal record, etc. is done once before the visa is issued and the visa is valid for varying lengths of time (10 years for Malaysia, for as long as one wishes in the PI) and there is no 're-qualifying' each year as there is with Thailand's retirement extension of stay.

 

I've paid most attention to the Malaysia MM2H and the Philippines SRRV, so I'm most familiar with recent changes for those countries.

 

I've seen that Malaysia has made quite a few changes in the last 5 years for new applicants for an MM2H visa, but they make it quite clear that the changes apply only to new applicants - they've not applied those changes to folks who have already applied or those who've been approved and hold valid MM2H visas.

 

The PI has only made a couple of changes to their SRRV program for the time I've been paying attention (about 5 years) and those changes have been to make it easier for folks to qualify.

 

The biggest change to the PI SRRV has been to the SRRV Courtesy allowing ex-military to avail of that 'flavor'

[Swedenlars]

Comparing Bagiou with Thailand is like comparing Roi Et with let's say Cebu. So in other words your personal experience does not seem to be very relevant comparing Thailand with the Philippines. Furthermore, I don't where you have been the past 10 years. Philippines have changed a lot. OK, traffic and infrastructure still a problem. But this also the case in Thailand. When it comes to standard of living things are much better than 10 years ago. Typhoons, possible earthquakes ? Depends on which island you live. Funny you are saying one would need wild horses to drag you back to the Philippines. Here in Cebu and Dumaguete we have more and more arrivals of expats who lived in Thailand before. And a few of these guys were exactly using your words about the wild horses. ???? And its not about the 800 K THB. It is the increasing autocratic attitude of the Thai immigration and this megalomaniac Big Joke. I have lived in Thailand myself and know how racist and two-faced the Thais are. In Singapore there is even a common saying: Don't THAI TO ME. (!) Whereas we never have this impression here in the Philippines. But whatever, if it makes you happy living in Thailand don't saddle the horses anymore.

[Pib]

Definitely read below thread "to include the khaosodenglish article within.

 

 http://www.khaosodenglish.com/news/2019/02/01/new-retiree-visa-rules-bewilder-thai-immigration-source/

 

[dcnx]

12 minutes ago, overherebc said:

Depends on the bank. Also depends on how uneducated the Seniors are, you know, when you're retired ( means you can't work in Thailand ) and they say cannot do this or that without a work permit.

Go to your bank and say, I brought in 1 mil' baht last month but I need to transfer it back to UK or USA.

Let us know how you get on. ????

 

I transfer very large sums from Bangkok Bank to the USA and other countries without any problems. They just ask what it’s for and I write that down on the form. 

 

But like everything else here, your hassles depend on the branch and the person you talk to.

[Genericnic]

5 minutes ago, Swedenlars said:

And its not about the 800 K THB. It is the increasing autocratic attitude of the Thai immigration and this megalomaniac Big Joke.

This is funny when you consider the PI has a president that condones and even encourages extrajudicial killings.

 

David

[Swedenlars]

So my first sentence my post was right. You don't know the Philippines at all. I guess you one of these guys who believe everything they read in the internet. My impression is you should not have become an expat in SE Asia in the first place.

[balo]

2 minutes ago, Swedenlars said:

Here in Cebu and Dumaguete we have more and more arrivals of expats who lived in Thailand before. And a few of these guys were exactly using your words about the wild horses

But they are Catholics , try to break up with a Filipino , not easy. And everyone wants to borrow money from you and never pay you back . 

It's a poor country , and the food sucks big time compared with Thailand.   And then the unstable weather, random power cuts, internet speed, overpriced services for foreigners. Security guards with guns everywhere.   

 

Thailand is just better in every department. Except for the visa situation. 

 

 

[madmen]

So my first sentence my post was right. You don't know the Philippines at all. I guess you one of these guys who believe everything they read in the internet. My impression is you should not have become an expat in SE Asia in the first place.

Dude who are you talking to, you know there is a quote button right? It's an internet thing

[KiChakayan]

22 hours ago, thequietman said:

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.

I don't think the recent changes are driven by hate, Thai Immigration is just trying to plug some loopholes in their process; they don't want people to stay here with less income/assets than they have set by law, I'd do the same. Now we all know that their solution to achieve this will be bureaucratic, tainted by vested interest, and maybe plain unintelligent. TIT.

[overherebc]

13 minutes ago, dcnx said:

I transfer very large sums from Bangkok Bank to the USA and other countries without any problems. They just ask what it’s for and I write that down on the form. 

 

But like everything else here, your hassles depend on the branch and the person you talk to.

And as I said the unlikey situation of meeting a clerk/manager who has the ability to think and act logically.

[overherebc]

33 minutes ago, Badrabbit said:

How will you prove that the 800k etc is in the bank for 3 months after? statement from bank each month?

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60 million dollar question at the moment

 

[Pattaya46]

34 minutes ago, Badrabbit said:

How will you prove that the 800k etc is in the bank for 3 months after? statement from bank each month?

Why made it a different way than the current one ?

They will just look at your passbook at your next extension

and will check that during the year balance stayed over 800 or 400k.

 

Minimum balance history :

800 800  (X)  800 800 800 / 400 400 400 / 400 400 400 / 400 800 800  (X+1) …

[Badrabbit]

Why made it a different way than the current one ?
They will just look at your passbook at your next extension
and will check that during the year balance stayed over 800 or 400k.
 
Minimum balance history :
800 800  (X)  800 800 800 / 400 400 400 / 400 400 400 / 400 800 800  (X+1) …

That is common sense to us but to them who knows!

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