New retiree visa rules bewilder Thai immigration: Source

[BritManToo]

6 minutes ago, jacko45k said:

Yes, going in there with a little camera would be a risky game!

You could just present the extension in your passport and proof of no money in your bank account.

No need to do anything in their presence.

[skatewash]

1 hour ago, Whyamiandwhatamidoinghere said:

Yup... Depends on how you view it. I avoid stress as much as possible. It may not be a viable option for some but for me it's the most comfortable. 

I can't tell you how much stress it would cause me to know I paid 500,000 for something I could have gotten instead for 1,900. ????  

But I get your point.  Horses for courses.

[tandor]

21 hours ago, Just1Voice said:

I'm just glad I can show a monthly income into a Thai bank for well above the required 65K a month.  With recently printed out deposits from my bank for the past year.  

..is there a need to state this when the masses are struggling to find even the 800k let alone 65k per month..good for you.

[Max77]

21 hours ago, Sheryl said:

This is the thing that changed. the money now not only needs to be seasoned in advance (seemingly 2 rather than 3 months) but also cannot be touched for 3 months after, and even then only half of it can ever be spent.

 

it is basically a 400K bond that has to be posted and maintained. But badly worded/designed.

What has changed is before all you had to prove is that you earned a monthly income of 65k baht. Now you have to deposit that amount into their bank

 

[Naamblar2014]

1 minute ago, skatewash said:

I can't tell you how much stress it would cause me to know I paid 500,000 for something I could have gotten instead for 1,900. ????  

But I get your point.  Horses for courses.

Don't you also get escorted around the airport in a little golf buggy. Come-on that's worth 498,100.

[sumrit]

4 minutes ago, tandor said:

..is there a need to state this when the masses are struggling to find even the 800k let alone 65k per month..good for you.

If you have 65k a month income you don't need to struggle to find 800k.

[overherebc]

1 hour ago, Sheryl said:

What is the point of "must be immediately available" if one is not allowed to spend it anyhow?

????

 

 

Yep. The whole thing has thrown up many more questions than answers.

[Sheryl]

15 minutes ago, sumrit said:

But this insurance is only available if first applying before you are 60 years old. And only renewable up to the age of 64 and a half. Not available to anyone 65+.

 

http://pattayaexpatsclub.info/wp/wp-content/uploads/2016/06/Expats-Benefit-2016_17.pdf

there are expat policies available to people over 65 from international companies.

 

Age per se is not a barrier except among Thai companies who are best avoided anyhow.  Pre-existing health conditions are the genuine problem for many (not all) older people.

[sumrit]

2 minutes ago, Sheryl said:

there are expat policies available to people over 65 from international companies.

 

Age per se is not a barrier except among Thai companies who are best avoided anyhow.  Pre-existing health conditions are the genuine problem for many (not all) older people.

You have made this comment in a few posts. Can you give examples of companies and costs, please.

[Sheryl]

4 minutes ago, sumrit said:

If you have 65k a month income you don't need to struggle to find 800k.

But you then have either substantial transfer costs or problems proving the money came from abroad.

 

The requirement that funds be transferred in every single month, in addition to incurring added transfer fees, is problematic for people whose retirement income isn't paid on a quarterly basis. Dividends, for example, may be quarterly.

[JLCrab]

29 minutes ago, jacko45k said:

42 minutes ago, BritManToo said:

If the higher ups promised a free 1 year VISA for anyone dobbing in a corrupt IO/Agent and instant dismissal for the IO signing the extension, this silliness would soon stop. But of course the senior immigration officers all bought their posts, and they need to recover the money somehow.

Yes, going in there with a little camera would be a risky game!

All it would take is an undercover sting with the agent. No need to get the IMM officer on camera as he/she is the one whose f----g signature is in the passport.

Edited February 2, 2019 by JLCrab

[fouryesrs]

21 hours ago, barefootbangkok said:

Obviously these new regulations will create a bigger workload for the Thai Immigration staff who process all the paperwork, it seems at times that they are worn out.  The staff processing the 90 day reports look especially tired which makes sense since they have to process all the long term expats 4 times a year. 

well that keeps em busy....and keeps them  employed ..burocracy is rampant...similar to india ...most done by hand...same europe in the old days when mostl people had jobs that could feed em...better earn a homest little doing some paperpusher jobs rather than join the heroin trading houses or hard core strret crime ( like many jobless in Europe are forced to - draghis europe made the banks richer than governments and young people to criminals....make it or die )....ok it also keeps you busy ....but knowing the alternatives for society out of first hand I rather settle for the thai variation

[Max77]

I went to renew my retirement visa a couple of weeks ago. I'll tell you what as changed. What has changed is that before all I needed was proof I earned the equivalent of 65000bht. (Where I kept it was my business.) Which along with my  affadavit always brought supporting docs. Adding up to about 80-90k baht. Per month. Now what is different is now they want 65k. In. Their.  Bank. Each . Month.

I am not breaking up a solid portfolio consisting of bonds/stocks/mutual funds/cd's that earns 4+% that I invest in each month  to put into a 3rd world country bank . But I do read about alot of guys who have reached under their mattress and put their life savings of 800000bht or now are following orders to sink 65k every 30 days into Thailands 1.5% banking system because now they've  ordered to do so. But hey you have a ball. 

[sumrit]

4 minutes ago, Sheryl said:

But you then have either substantial transfer costs or problems proving the money came from abroad.

 

The requirement that funds be transferred in every single month, in addition to incurring added transfer fees, is problematic for people whose retirement income isn't paid on a quarterly basis. Dividends, for example, may be quarterly.

So collect them quarterly then transfer them monthly from then on. Would take a mere three months to organize and set up, then you have a permanent monthly income to transfer from then on.????

[Max77]

22 hours ago, Just1Voice said:

I'm just glad I can show a monthly income into a Thai bank for well above the required 65K a month.  With recently printed out deposits from my bank for the past year.  

????????

[jacko45k]

6 minutes ago, JLCrab said:

All it would take is an undercover sting with the agent. No need to get the IMM officer on camera as he/she is the one whose f----g signature is in the passport.

I like the way you think Mr Bond.

[skatewash]

20 minutes ago, Max77 said:

What has changed is before all you had to prove is that you earned a monthly income of 65k baht. Now you have to deposit that amount into their bank

 

And never use it to live on unless you want to lose your next extension!

[farangx]

37 minutes ago, jacko45k said:

Yes, going in there with a little camera would be a risky game!

I said, be careful, his bowtie is really a camera.

 

[Sheryl]

16 minutes ago, sumrit said:

You have made this comment in a few posts. Can you give examples of companies and costs, please.

Cigna Global

April My Health international (Not My Health Thailand -  April international, based in France0

Gloability Health Essential Plan

AXA PPP (UK based AXA PPP not AXA Thailand)

Morgan Price (up to age 75)

 

And others

 

for those not yet 65 (e.g. 60-64) David Shield is also a good option

 

Costs vary by age and by policy. Also by whether or not a deductible (excess) is taken. Very roughly, with 0 deductible, anywhere from USD 2500 - 4000 a year if aged 65-69. Aged 70 and over, anywhere from USD 3,000 - 6000 a year. These are with no deductible, accept a deducible and costs come down.

 

Contact a broker. And make sure it is a broker that offers info on international plans not only Thai companies. AA Brokers is good.

[Sheryl]

29 minutes ago, Max77 said:

What has changed is before all you had to prove is that you earned a monthly income of 65k baht. Now you have to deposit that amount into their bank

 

AND prove it came from abroad, which is problematic if using services like Transferwise.

 

Also a problem for people with income from passive sources in Thailand.

 

In the past there was no requirement as to either source of the income (other than you cannot be employed in Thailand) nor where it was kept.

 

These are significant changes.

[JLCrab]

12 minutes ago, Max77 said:

or now are following orders to sink 65k every 30 days into Thailands 1.5% banking system because now they've  ordered to do so. But hey you have a ball. 

At some point all these portfolio-type guys have to figure out how much it is worth to them to live in Thailand. And I bring in and spend at least 65K baht per month anyway and have for years. And I do have a ball, thank you very much.

[jacko45k]

9 minutes ago, farangx said:

I said, be careful, his bowtie is really a camera.

 

America, Simon and him with the long name.

[JLCrab]

5 minutes ago, jacko45k said:

America, Simon and him with the long name.

Nah -- no need for cameras. At some point the IMM officer putting their signature in the passport with a fraudulently obtained extension of stay may go down in crime annals with the bank hold up guy whose "This is a stickup!!" note was written on the back of his utility bill.

Edited February 2, 2019 by JLCrab

[newatthis]

2 hours ago, Whyamiandwhatamidoinghere said:

Yup... Depends on how you view it. I avoid stress as much as possible. It may not be a viable option for some but for me it's the most comfortable. 

This is what it's all about: Whatever suits you.

 

65,000 per month income method [or depending on country...embassy letter]

800,000 bank method

Elite Visa

 

Just choose the one you like and go for it.

 

[birddogger]

As pointed out either on this forum or possibly another, this could be a requirement for NEW extensions of stay and possibly does not apply to those already under the current regulation. Similar to those fortunate enough to be under the older requirement for a smaller amount of bank deposit or monthly income. The new regulation requires 2 months of seasoning which is the same as the current first time so this could be additional requirements for new applicants. Certainly as with all regulations in Thailand there is nothing which occurs that time will not cure.

Sent from my SM-G965F using Thailand Forum - Thaivisa mobile app

[GeorgeCross]

26 minutes ago, Max77 said:

I went to renew my retirement visa a couple of weeks ago. I'll tell you what as changed. What has changed is that before all I needed was proof I earned the equivalent of 65000bht. (Where I kept it was my business.) Which along with my  affadavit always brought supporting docs. Adding up to about 80-90k baht. Per month. Now what is different is now they want 65k. In. Their.  Bank. Each . Month.

I am not breaking up a solid portfolio consisting of bonds/stocks/mutual funds/cd's that earns 4+% that I invest in each month  to put into a 3rd world country bank . But I do read about alot of guys who have reached under their mattress and put their life savings of 800000bht or now are following orders to sink 65k every 30 days into Thailands 1.5% banking system because now they've  ordered to do so. But hey you have a ball. 

 

i commend your fortitude sir.. i'll be thinking of you when i'm supping on a mojito at the beach next time. hope its warm where you'll be retiring now, my country is bloody freezing this time of year! anyways good luck with your retirement wherever it may be..

[Retiredandhappyhere]

21 hours ago, Orton Rd said:

I would not trust any IO to have kept up with this change from 3-2 months. Have it in for 3 months as always in case there is a 'misunderstanding;'. The less you give them to fault you on the better.

My understanding is that for new applicants for a retirement visa, they must have 800,000 in the bank for two months prior to their application and then leave it there for three months after the application is granted, when 400,000 may be drawn out until three months before the renewal date, when again 800,000 is required for a six month period (3 months before and 3 after).

 

For renewals the 800,000 is required for three months before and three months after the application, when 400,000 can be withdrawn until three months prior to the next renewal when the balance again has to be 800,000 and left there for three months after renewal, when again, 400,000 may be withdrawn.

 

Clearly, for people who have the available funds, the easiest and safest solution is just to leave the whole 800,000 in a Term account (with-drawable at any time with loss of interest), so that only the renewable date for a visit to IO is then important, plus, of course the four other dates relating to the 90 day reports.

[pontious]

46 minutes ago, Sheryl said:

AND prove it came from abroad, which is problematic if using services like Transferwise.

 

Also a problem for people with income from passive sources in Thailand.

 

In the past there was no requirement as to either source of the income (other than you cannot be employed in Thailand) nor where it was kept.

 

These are significant changes.

For the odd SMT transfer that you  get from TW you can print out the PDF transfer  details of the money you sent.   

[skatewash]

2 minutes ago, pontious said:

For the odd SMT transfer that you  get from TW you can print out the PDF transfer  details of the money you sent.   

 Yes, you can certainly print this out and if someone reads it they can quite clearly see what it proves, but what's the old saying:  "you can lead a horse to water, but you can't make it drink."  If the IO isn't interested in looking at anything outside of documentation from Thai banks (letter, statement, and passbook) it may do you no good.

[pontious]

1 minute ago, skatewash said:

 Yes, you can certainly print this out and if someone reads it they can quite clearly see what it proves, but what's the old saying:  "you can lead a horse to water, but you can't make it drink."  If the IO isn't interested in looking at anything outside of documentation from Thai banks (letter, statement, and passbook) it may do you no good.

Ask the bank to print out your international transfers.