Will the  new financial requirements for retirement extensions (visas) force you to leave Thailand?

 

Please feel free to leave a comment.

 

 

 

I am glad that I come from a country with an embassy in Bangkok who cares for its citizens living in Thailand.

That beach photo might encourage me to leave,

but the new immigration requirements will not.

I maintain the ฿800,000 balance year round. It's

easier and helps keep life simple--the way it's

supposed to be in LOS

The new rules are no concern for me.

Living on savings for years and well above 800k.

Should be able to maintain 800k after pension starts next year.

And even then income certificate would be issued.

Much more concerned about dwindling exchange rate combined with continuous price increases which bite into spending power.

No I will not have to leave but as I get older the constant rule changes with ever ever changing hoops to jump over are becoming tiresome, and I'm really at a loss to understand the reasoning, other than "because we can".

 

I can afford to live here comfortably but I just want a nice quiet and stress free life.

I'll certainly be giving up permanent residency in Thailand, just becoming a visitor for 3 or 4 months a year; still love Thailand. My circumstances are that I can still afford the to put the money in the bank and easily meet the monthly income but I don't see why I should be forced to keep money in the bank here all year round or required to deposit money in the bank here when I am not here for 3 or 4 months of the year. Luckily I haven't burnt my bridges back home so I'm able to return easily. And I think as sure as night follows day the financial requirements will significantly increase in the near future. 

I have always used the British Embassy income letter. This year, I am sending 70k baht/month to my Thai bank account. I have always found that 70k baht is the minimum amount that I have needed to bring into Thailand each month, so no problem there.

 

However, I have always used my CC in my bank branch to bring the money in which incurred zero costs at either end and a good exchange rate. This month I used a SWIFT transfer to bring in my 70k Baht, which incurred costs at both ends and a slightly poorer exchange rate. On the basis of this, I have calculated that it will cost me an extra 12k Baht per annum to comply with visa regulations. I am currently looking at ways to reduce that sum (TransferWise), but will never be able to reduce it to zero. Doable but annoying.

 

It also has other problems such as, if I return to the UK for a month (I have done this for most years that I've been here), I'll still be required to deposit 70k in my Thai bank account for that month. Also, Thai banks are less than infallible and I worry that at the end of 12 months, I'll be unable to show a record of the full 12 monthly deposits, coming from abroad, into my Thai bank account.

 

I'm sure that I'll be able to continue my stay here but I see the changes being quite onerous for those that only reside here for part of the year.

8 minutes ago, logres212 said:

I'll certainly be giving up permanent residency in Thailand, just becoming a visitor for 3 or 4 months a year; still love Thailand. My circumstances are that I can still afford the to put the money in the bank and easily meet the monthly income but I don't see why I should be forced to keep money in the bank here all year round or required to deposit money in the bank here when I am not here for 3 or 4 months of the year. Luckily I haven't burnt my bridges back home so I'm able to return easily. And I think as sure as night follows day the financial requirements will significantly increase in the near future. 

If you are a permanent resident, you don't have to deposit any money in the bank or get a visa

I am ok with the requirement, as some said above I also keep 800-900K at all times in the account, unfortunately other, no idea how many, may have a problem. 

Just come to realize, only rich retirees can retire in Thailand, some time ago all retirees, rich and not so rich could retire here and enjoy the left (long or short) years of life, all of a sudden it all changed

1 minute ago, gamini said:

If you are a permanent resident, you don't have to deposit any money in the bank or get a visa

Pretty much impossible for anyone who came here as a retiree.

I moved in December from Old Method (1) Citibank debit card at atm [easily the cheapest way to bring funds] to Method (2) TW transfer of 70K฿ each month to BKK Bank account + Citibank debit card for the other 60 or 70K my b/f and his family manage to get through.

 

Method (3) 800K฿ in the bank remains a future fallback if necessary, but it just became a whole lot less attractive - unless one looks on it as health or other insurance resource.

 

I'm not of retirement age yet, but I could cope with the new requirements. As things stand now, my plan to go for the retirement extension as soon as I qualify age-wise remains unchanged.

The way I look at it, since there is no way that I can accrue a right to stay, then this moving of the goal posts is a wake-up call on the precarious nature of retiring in the Land of Shake-ups. I would rather make the move now, say within the next 18 months, and on my own agenda, than be exposed to the risk of the rules shifting around me when I am a good chunk older and cannot quite so easily deal with it.

 

I could deal with this change, but the writing is on the wall for me, for sure. Rules could also be changed back either once they realise the impact this has, or once the election is past. But the simple fact is that I don't want my life in my dotage, to be subject to the whims of ill considered (or conceivably malicious) immigration rule changes, every time someone feels the need to impress his bosses.

I selected "jeopardized" not because I cannot meet the new requirements but because I think we're being squeezed, that new rules are coming, and I'm tired of it all. I just want to go to some place that will leave me in peace. 

No, but unfortunately it will keep me from taking pointless online surveys.

When will the Thai government realise its not what you have in the bank its how much you spend here. 

I get it that they want money in the bank to show but Ive met people who have that but spend less than 20k a month.. They should let anyone come ad long as they have say 25k a month which is higher than the average Thai.

Also this new idea about keeping 800k in the babk 6 months a year will just make the crooked police and visa agents richer. They are going to ask now I expect 70k a year for the no money in the bank service.

When will Thai visa stop advertising this service?

I for one would not use it as if caught expect to spend a few years in prison!

55 minutes ago, PaulDee said:

That beach photo might encourage me to leave,

but the new immigration requirements will not.

I maintain the ฿800,000 balance year round. It's

easier and helps keep life simple--the way it's

supposed to be in LOS

You speak of 800000 bahts on a fixed account ?; I  have one like this and I wonder if it works for the new requirements ; for me, it would logically work because money is before, after extension and always more than 400000 bahts all year around 

36 minutes ago, theoldgit said:

No I will not have to leave but as I get older the constant rule changes with ever ever changing hoops to jump over are becoming tiresome, and I'm really at a loss to understand the reasoning, other than "because we can".

 

I can afford to live hear comfortably but I just want a nice quiet and stress free life.

Just like theoldgit here, the trouble one has to go to, simply to live a 'quiet life' is becoming rather onerous.

 

Although I voted no, I do have another option. I have kept an apartment in Egypt where I can go and live without even having report to immigration.

 

Watch this space!

4 minutes ago, Chicken George said:

When will the Thai government realise its not what you have in the bank its how much you spend here. 

In the past, spending in Thailand was what they wanted and emphasized. Now, Immigration is creating a self-defeating rule. I know that I will begin to spend far, far less than I have in the past. I can easily cut things down to 20-25K per month or lower and will do so until I am either a) sure where they are going with this policy or b) whether I will stay here or go someplace else that is, quite frankly, less stressful. 

39 minutes ago, gamini said:

If you are a permanent resident, you don't have to deposit any money in the bank or get a visa

Sorry, actually what I meant was residing as a full time retiree in Thailand. 

I have been here so long and got so used to jumping through immigration hoops, I am prepared for any and every eventuality.  After 32 years residence, the majority of which are on 1 year extensions of stay, with the same wife and son for more than 20 of these, I don't ever expect to be on anything else.  The thought of have permanent residence or Thai nationality is still so far away I can't even think about it!

 

Living abroad permanently requires us to be prepared if there are any changes to local sovereign laws!

 

I am certain I will die here.

Rather hard to answer when the rules seem to change weekly.....

 

I had been thinking of changing to the monthly income method (from 800K), but when those rules changed and I read about all the difficulties in proving transfers are from abroad etc I thought OK, I'll stick with the 800K method.

 

Now that too has changed, so much so that it seems the giovernment is actively discouraging its use.

 

Very hard to plan in this environment.

I get my B.65.000.- of pension. No more, no less.

 

It’s a retless feeling of being permanently in alert to the changing norms and new rules, that incredibly at my age, causes some stress and insecurity.

 

Insecurity, becouse after 6 years of relation with my Tg/f. Building me a home actually, with a lovely Thai family and with this kind of feeling of my uncertain proyect of future.

 

I’ll not leave thailand. I can not.... This isn’t on my mind but.....Who knows?

Perhaps the new requirements will make people re-assess, rather than leave lock stock. A couple of posters have pointed out that they will be adapting. I'm sure many expats will also be reconsidering.

For some, it could also be advantageous (from a health/pension/reality check perspective) to be living back home with free healthcare and so forth for some part of the year and change visas accordingly.

Unfortunately the 'golden years' of wherever you were from and no matter how long you wanted to stay are over.

It's not the noughties anymore unfortunately and we just have to get used to that.

Thailand and it's lifestyle for expats has proved it's worth over the years, we pretty much know what we are getting. A few tweaks here and there won't affect the majority as the survey is showing.

 

After all, how many countries in the world are there where one can just rock up with 800K Baht and live there perpetually. I suspect there are non which can match what the kingdom has to offer....

 

If the requirements persist, which I expect them to; those that are unfortunately experiencing issues have the option to return home and really look at how they can 'beat the system', not ideal I know, but there are options, many of which are being posted currently as this scenario unravels.....

4 minutes ago, Sheryl said:

Rather hard to answer when the rules seem to change weekly.....

 

I had been thinking of changing to the monthly income method (from 800K), but when those rules changed and I read about all the difficulties in proving transfers are from abroad etc

 

 

I did not see anything that stated you have to PROVE the transfers were from abroad.  That is pure speculation by forum members.  It only states having monthly income transfers of 65k a month.  Period.

Not really sorry to see the single men down in Pattaya, Jomtien be forced to move on.

 

Married, married with children I'd hope Thailand could sort it out.

 

Can't believe PR is not afforded to married men by now. At least 10 year visas.

 

They need to create a special account within all banks to pay us more money on 1yr time deposits.

 

We will go back to USA when required to purchase expensive insurance that will be utterly worthless. That's my line in the sand.

 

Anyone that can't park 400k in the bank really shouldn't be abroad anyway.

 

Governments have every right to set criteria. If you don't like Thailand's there are 219 other countries...bye bye

3 minutes ago, bojo said:

 

 

 

After all, how many countries in the world are there where one can just rock up with 800K Baht and live there perpetually. I suspect there are non which can match what the kingdom has to offer....

 

 

The Philippines doesn't require ANY bank account or financial prove of income.  You just pay for visa extensions every 2 months for up to 3 years, at which time you do a visa run to a neighboring country and your 3 years eligibility starts all over again.

 

22 minutes ago, Chicken George said:

When will the Thai government realise its not what you have in the bank its how much you spend here. 

I get it that they want money in the bank to show but Ive met people who have that but spend less than 20k a month.. They should let anyone come ad long as they have say 25k a month which is higher than the average Thai.

Also this new idea about keeping 800k in the babk 6 months a year will just make the crooked police and visa agents richer. They are going to ask now I expect 70k a year for the no money in the bank service.

When will Thai visa stop advertising this service?

I for one would not use it as if caught expect to spend a few years in prison!

If you spend less than 20k pm you're no one for Thailand to lose sleep over. I spend about 25k pm as BASIC monthly expenditure. Im busy working, wife works. We go out to eat a few times a month.

 

We bank all the money, our option but do have it available. Keep building nest egg for 62 and beyond.

 

For a single guy to spend such little money. The lifestyle must be so wan. Thailand doesn't need this lot. They just exist.

7 minutes ago, TheThai said:

The Philippines doesn't require ANY bank account or financial prove of income.  You just pay for visa extensions every 2 months for up to 3 years, at which time you do a visa run to a neighboring country and your 3 years eligibility starts all over again.

 

It's a horrible country. Why don't you think more expats live there? Every Filipino that can leaves the country. I hear over 10%. Enjoy

 

5 minutes ago, ozmeldo said:

Not really sorry to see the single men down in Pattaya, Jomtien be forced to move on.

 

Married, married with children I'd hope Thailand could sort it out.

 

Can't believe PR is not afforded to married men in hetrosexual relationships by now. At least 10 year visas.

 

They need to create a special account within all banks to pay us more money on 1yr time deposits.

 

We will go back to USA when required to purchase expensive insurance that will be utterly worthless. That's my line in the sand.

 

Anyone that can't park 400k in the bank really shouldn't be abroad anyway.

 

Governments have every right to set criteria. If you don't like Thailand's there are 219 other countries...bye bye

I agree, I traveled around a bit before my Thai wife and I decided there was not a better place or safer place for us. We live in a small fishing village and could not be happier. The villagers are very good to us and we have a 5 star hospital very close.