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

[Spidey]

1 minute ago, alfieconn said:

Brexit won't fall through, we leave on the 29th Mar 2019, 

 

???????? That's exactly what your advocating the poster should do by suggesting he waits as it could reach 50 in a couple of months, incidentally there's no way in a million years it will be 50 in a few months !

 

 

 

 

 

 

I'm not advocating anything, just pointing out that the bookies are offering short odds on Brexit not happening. If that's the case the £ will rise.

[marcusarelus]

8 minutes ago, ubonjoe said:

Immigration does not issue OA visas. That is an error that has been on that website for many years.

It should state a extension of stay can be applied for at immigration.

Can one get a long stay (retirement visa) without going back to one's home country?

[alfieconn]

7 minutes ago, Spidey said:

I'm not advocating anything, just pointing out that the bookies are offering short odds on Brexit not happening. If that's the case the £ will rise.

Yep your saying the poster should take a gamble on the rates going higher due to Brexit not happening, that's exactly what playing the markets is ????????

 

Quote

if they could have brought it in at 50 to the £ in a couple of months time.

 

Edited February 7, 2019 by alfieconn

[tingtongtourist]

15 minutes ago, Spidey said:

I have even less sympathy for them because they could just send the 800k over in 65k baht monthly instalments. No need to keep any money in a Thai bank account. Something that you couldn't do last year. They should be thanking Thai Immigration for removing the need to keep the money in a Thai bank account.

really nobody can have sympathy for them. 

 

the requirements have been there all along, so in that sense the goal posts havent really mooved as some are saying.

 

if they were following the rule

and had money in bank OR monthly earnings,

then surely it would not be much harder to keep the figure topped at 800k/400k for a few extra months?

 

its obviousl these guys must never had the money all along and been paying agents or doing other dodgy stuff to stay here.

 

and to note: most of our own countries demand foreigners have much MUCH more in bank, and have nearly impossible conditions for an ordinary person to get visa long term

 

paying off visa agents is simply unheard of

 

so yeah, so sorry to say

 it seems like to many have had it to good for to long being able to skirt around the flimsy lack of enforcement.

 

with this Big Joke fellow on the job, the axe was always going to come down sooner or later

 

[JackThompson]

37 minutes ago, Roy Baht said:

You're going to ruin your life here over what? 50K baht in potential lost interest?

I share your lack of concern for the wealthy - but what if one's retirement-plan is dependent on receiving a decent return on their 800K for 9 mo/yr?  They may have started with earning almost all-year, then adjusted for the 3-mo seasoning, but now that has changed.  Their "savy investing" may be out of necessity - to prevent their nest-egg being depleted prematurely, in case they "don't die soon enough."

 

Add in many with incomes of ~70K Baht, who were re-investing much of that every year and/or spending it on passport-country expenses - who were sending money here either a couple times a year in lump-sums, or smaller increments via "refundable fee" ATM arrangements.  Now, they must send almost all of their incomes here every month - a massive change. 

 

I can see why many affected would need to move, given the cost and effort - the additional fees and/or locked-up money / lost income, and/or sending their money in circles - to continue maintaining their passport-country life-options (staying here is being revealed as uncertain at best) and/or investment plans.

[Spidey]

8 minutes ago, alfieconn said:

Yep your saying the poster should take a gamble on the rates going higher due to Brexit not happening, that's exactly what playing the markets is 

Thanks for completely twisting what I said. Nice editing. I was merely pointing out that money markets can go up as well as down. I offered no advice.

 

Are you trying to turn this into another Brexit thread? Perhaps you could bring Manchester United into the thread too, then you could have a good old troll.

[ubonjoe]

21 minutes ago, marcusarelus said:

Can one get a long stay (retirement visa) without going back to one's home country?

Not unless they have permanent residency in another country.

[marcusarelus]

4 minutes ago, ubonjoe said:

Not unless they have permanent residency in another country.

Can one get an "O" or "?" or "non O", visa at an adjoining country and extend that for purposes of Retirement in Bangkok?  And if so why not do that every year?

Edited February 7, 2019 by marcusarelus

[Tanoshi]

1 hour ago, David Walden said:

Australians never make a declaration to their Embassy to get a Retirement visa. Australians make a statutory declaration (Stat dec) to Thai Immigration that they have the required funds, the Australian Embassy simply just witnessed that it is you and that they saw you sign that declaration.  The Stat dec is really just a letter from you to Thai Immigration the Embassy just signs to say they saw you sware an oath that the information in the letter is true as you have stated  The contents of the stat dec is of no interest to the Australian Embassy in Thailand, you can put anything you like in it they just saw you sign it...this is not the same when you sware to an affidavit. 

   The US affidavits appear to be a confirmation from the Embassy that they have perused your information and they believe that all that information supplied after checking it out is true and provide a letter from the Embassy to Thai Immigration confirming this.  This appears where all the trouble is.

It's not often your correct, but this time your dead wrong.

 

A statutory declaration is a statement made, sometimes under oath, but not sworn to and couldn't be used in a court of law.

An affidavit is a written statement sworn under oath and can be used in a court of law.

 

Neither have anything to do with your Embassy confirming the incomes in your statements.

[Mavideol]

 didn't you just said so... if they wait they can get 50 vs 40 now...you contradict yourself... gotcha 555

[ubonjoe]

4 minutes ago, marcusarelus said:

Can one get an "O" or "?" or "non O", visa at an adjoining country and extend that for purposes of Retirement in Bangkok?  And if so why not do that every year?

A single entry non-o visa can be applied for as some neary embassies and consulates. But why would anybody want to get a new non-o visa every year when they can apply for another extension at their local immigration office.

[Sheryl]

56 minutes ago, Spidey said:

I have even less sympathy for them because they could just send the 800k over in 65k baht monthly instalments. No need to keep any money in a Thai bank account. Something that you couldn't do last year. They should be thanking Thai Immigration for removing the need to keep the money in a Thai bank account.

??? You could certainly use the 65K/month method last year, and years prior to it. That is not new. All that is new is that now the entire amount must be brought into Thailand each month and (most problematic for reasons that have been extensively discussed) have it show as coming form abroad in your bank statement. Previously you just had to have 65K in income, period.

[jacko45k]

1 hour ago, Spidey said:

No need to keep any money in a Thai bank account. Something that you couldn't do last year.

Not true, people who used to get Embassy letters could do that, those that still get Embassy letters still can.

[marcusarelus]

8 minutes ago, ubonjoe said:

A single entry non-o visa can be applied for as some neary embassies and consulates. But why would anybody want to get a new non-o visa every year when they can apply for another extension at their local immigration office.

Because they want to use the 800,000/400,000 during the year or have to use it for an emergency or the bank screws up a transfer and misses the 65k for a couple of months and are afraid of being on overstay or kicked out of the country when the next extension is applied for.

[xylophone]

1 minute ago, Sheryl said:

??? You could certainly use the 65K/month method last year, and years prior to it. That is not new. All that is new is that now the entire amount must be brought into Thailand each month and (most problematic for reasons that have been extensively discussed) have it show as coming form abroad in your bank statement. Previously you just had to have 65K in income, period.

Perhaps some good news on this Sheryl (and others) as I have been making enquiries to the UK pension service, the UK "branch" of Bangkok bank and also my own New Zealand pension service to look at alternatives.

 

The main worry for me was the UK pension service paying into the London "branch" of the Bangkok bank and when that money appeared in my bank statement here it did not state it was an international transfer. HOWEVER, I've been discussing this with the liaison person in that London "branch" of Bangkok bank and she informs me that if I get my UK pension paid in pounds to them, and request that they send pounds to my Thai bank account, then it will register as an international transfer here.

 

At the moment the pounds sent to the London "branch" are converted in London to Thai baht, before being transferred (if indeed they actually are) to Thailand, so if this is changed, apparently my statement will now read International Transfer.

 

On the one hand that's fantastic, however on the other hand the service will cost me £20 at the London end and anything between 200 and 500 baht at the Thai end, so more expensive than other methods (some of which I'm still investigating) but at least it's very doable!

 

Perhaps the same thing is applicable to folks remitting from the USA?

[Spidey]

2 minutes ago, Sheryl said:

??? You could certainly use the 65K/month method last year, and years prior to it. That is not new. All that is new is that now the entire amount must be brought into Thailand each month and (most problematic for reasons that have been extensively discussed) have it show as coming form abroad in your bank statement. Previously you just had to have 65K in income, period.

You misunderstood. Last year, you had to prove that you had an income in excess of 65k baht in your own country. If you just had a lump sum in your own country, no go, you needed to bring 800k baht into a Thai bank account. Now, even if you only have a lump sum in your own country, no income, you can bring in 65k baht monthly from that lump sum and obtain your visa with the monthly income method. No need to prove an actual income or bring 800k baht into the country as a lump sum and keep it in a Thai bank account for 3 months.

 

I'm sure that system could be advantageous to a lot of people who previously used the 800k baht lump sum method.

[Tanoshi]

1 hour ago, marcusarelus said:

Applicant may submit their application at the Royal Thai embassy or Royal Thai Consulate-General in their home/residence country or at the Office of the Immigration Bureau in Thailand located onGovernment Center B, Chaengwattana Soi 7, Laksi, Bangkok 10210, Tel 0-2141-9889.

 

http://www.mfa.go.th/main/en/services/4908/15385-Non-Immigrant-Visa-"O-A"-(Long-Stay).html

Your misinterpreting the information.

You can apply for the O-A Visa at a Royal Thai Embassy in your home Country, as conditions 1 and 2, OR

apply at Immigration, conditions 5.4. (extending your stay).

[ocddave]

1 hour ago, Roy Baht said:

This is the number one reason I keep on hearing on TVF for not meeting the new requirements ("I don't want to put my money in Thailand!") and the number one reason I don't have much sympathy for them. Why? Because these people have a choice. Now, I have genuine sympathy and sadness for people who just don't have enough money to continue living here. They have no choice. They will have to leave. That's sad. But the people who say they have the money but just don't want to keep it in Thailand because they are "savvy investors" or some other nonsense: they have a choice. If you really do have a life and family and friends here and support businesses, etc, and if leaving Thailand will ruin your life, why on earth would you not simply transfer 800K baht to a Thai bank account and have done with it? You're going to ruin your life here over what? 50K baht in potential lost interest? Listen if your life here isn't worth more to you than 50K in imaginary interest, then it may be time for you to seek greener pastures elsewhere. And time to stop whinging as if the Thai government owes you a living. They never have and they never will. 

Probably like many businesses that also don't want to move their money into Thailand, we are currently under a 4 year long Dictatorship, with almost no end in sight. Living in a hostile to foreigners environment, especially when it comes to the Big Joke and his Merry Men, this wouldn't be a stable environment to make a huge commitment too.

[Spidey]

2 minutes ago, ocddave said:

Probably like many businesses that also don't want to move their money into Thailand, we are currently under a 4 year long Dictatorship, with almost no end in sight. Living in a hostile to foreigners environment, especially when it comes to the Big Joke and his Merry Men, this wouldn't be a stable environment to make a huge commitment too.

So, just send 65k/month to a Thai bank account.

[granuaile]

1 hour ago, jacko45k said:

Not true, people who used to get Embassy letters could do that, those that still get Embassy letters still can.

Wondering if anyone has reported any issues using the embassy letters since these changes, especially from the four countries that stopped them. I got mine before my last trip home (November through January), will go this month for my next, and last (at least for now) extension with original documents from my pension plan and social security. Not sure what to expect but haven't seen any reports about them so as long as good for 6 months expecting things to go OK. Curious though...

[jacko45k]

2 minutes ago, granuaile said:

Wondering if anyone has reported any issues using the embassy letters since these changes, especially from the four countries that stopped them. I got mine before my last trip home (November through January), will go this month for my next, and last (at least for now) extension with original documents from my pension plan and social security. Not sure what to expect but haven't seen any reports about them so as long as good for 6 months expecting things to go OK. Curious though...

I have read posts on TV that both scenarios worked just fine.

[notamember]

4 hours ago, Spidey said:

If you read that thread, it gives no indication as to why the guy can no longer stay in Thailand or what has changed, for him, as regards to him obtaining his visa extension this year as opposed to last year.

 

The financial requirement for the visa extension hasn't change at all. 65k baht monthly income last year, 65k baht/month this year. 800k baht in a Thai bank account last year, 800k baht in a Thai bank account this year. Only the method of proof has changed, more inconvenient but still equally doable. I can't, for the life of me, understand how someone found it easy to obtain a retirement visa extension last year but finds it impossible this year.

 

For French citizens, there is even less change as they still obtain their embassy income letters, leaving the 65k baht/month income route completely unchanged.

elvajeiro said show one, i did and was sourced from TV parent the Nation so i thought uit must be true

 

[Spidey]

50 minutes ago, Russell17au said:

This is post #126 from Pattaya46

The "90yo expat who has to leave" is from USA

Until now he was using his embassy income letter (affidavit).

He doesn't want keep money in Thailand

and says that monthly transfer is too much hassle for a 90yo

(How I know? he contacted me)

Who wrote the OP? The old man did not, it was written and submitted by Webfact, and of course those in the media never misuse words to make their stories much more exciting.

 

 

3 minutes ago, notamember said:

elvajeiro said show one, i did and was sourced from TV parent the Nation so i thought uit must be true

 

Apparently not.

[Roy Baht]

1 hour ago, ocddave said:

we are currently under a 4 year long Dictatorship, with almost no end in sight. Living in a hostile to foreigners environment.

Then why stay? And why complain about not being able to stay? I enjoy plenty of freedom here. In fact, I find Thailand far more free than the US or UK. I don't find the environment here "hostile to foreigners" And if I did, I wouldn't stay here. Basically your complaint is that you are being overcharged to live in a horrible place? My question is why do you want to live in a horrible place for any price? 

[notamember]

Just now, Roy Baht said:

Then why stay? And why complain about not being able to stay? I enjoy plenty of freedom here. In fact, I find Thailand far more free than the US or UK. I don't find the environment here "hostile to foreigners" And if I did, I wouldn't stay here. Basically your complaint is that you are being overcharged to live in a horrible place? My question is why do you want to live in a horrible place for any price? 

its been a lot less hostile since the General put the red faction to bed, my only disappointment is that square face has not been put to bed permanently

 

[elviajero]

6 hours ago, notamember said:

 

That doesn’t help. No one is giving detail as to why the rule change is forcing them to leave.

[notamember]

Just now, elviajero said:

That doesn’t help. No one is giving detail as to why the rule change is forcing them to leave.

you said show me one!

i found one in seconds on these very hallowed pages with TVs parent as the source

does this one not count then? why am i not surprised........

[elviajero]

3 minutes ago, notamember said:

you said show me one!

i found one in seconds on these very hallowed pages with TVs parent as the source

does this one not count then? why am i not surprised........

It doesn’t say why he has to leave.

 

Lots of people are making claims of “many” people will be forced to leave, but no one is explaining why!

[Roy Baht]

11 minutes ago, notamember said:

you said show me one!

i found one in seconds on these very hallowed pages with TVs parent as the source

does this one not count then? why am i not surprised........

The 90 year-old American said he didn't want to send such a large sum (800K) to a Thai bank and he didn't want the hassles of sending 65K every month. Sounds like most of the people on this forum. But, mind you, this isn't a man who has left Thailand--only a guy who wrote to the Nation's letter section saying he's leaving. I think he will continue living in Thailand--unless his saying "I don't want to send money to a Thai bank" really means: "I don't have 800K baht". (Something I suspect of quite a few TVF participants.) 

Edited February 7, 2019 by Roy Baht

[David Walden]

3 hours ago, Roy Baht said:

This is the number one reason I keep on hearing on TVF for not meeting the new requirements ("I don't want to put my money in Thailand!") and the number one reason I don't have much sympathy for them. Why? Because these people have a choice. Now, I have genuine sympathy and sadness for people who just don't have enough money to continue living here. They have no choice. They will have to leave. That's sad. But the people who say they have the money but just don't want to keep it in Thailand because they are "savvy investors" or some other nonsense: they have a choice. If you really do have a life and family and friends here and support businesses, etc, and if leaving Thailand will ruin your life, why on earth would you not simply transfer 800K baht to a Thai bank account and have done with it? You're going to ruin your life here over what? 50K baht in potential lost interest? Listen if your life here isn't worth more to you than 50K in imaginary interest, then it may be time for you to seek greener pastures elsewhere. And time to stop whinging as if the Thai government owes you a living. They never have and they never will. 

You still don't get it...you have a choice of applying for a Retirements visa in your home country or in Thailand.  The bt800,000 can be in a bank or in an approved Retirement investment fund.  I simply say I get mine in Australia.  That way I save Bt70,000per year by leaving the money in my Australian retirement fund.