SURVEY: Will the new financial requirements force you to leave?

[InsertNameHere]

43 minutes ago, Mavideol said:

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

You hit the nail on the head it all comes down to money no matter your situation. Who would think that as a "retiree" would need to deal with all the bureaucratic politics. When you get old money should is not the probity for most. But, societies worldwide relying on possessing more and more money when we all die which we all do nothing goes with you not even the lint in your pockets. These guidelines and rules pertain to a very select few ie. : Elite Visa". These laws and policies were changed do to all the people that are or trying to buck the system. I am not "well off" nor do I care what happens with all these political bureaucratic nonsense. I will either fit into the "mold" or i will not and move else where. Houses, cars, etc. are nothing more things we think we need, own, etc. A life can be made anywhere. Life is NOT just about money even though we make it that way it is actually quite simple you only need to understand one thing MONEY the rest is pure entertainment till you die. 

[Khaeng Mak]

After many decades here. These new rules may indeed tear me from my family and leave me to fend for my self at a time in my life when I am most vulnerable and need their support.  It is clear there is no thought given to humanitarian issues every time each of these recent changes have been cooked up. Expat retirees in Thailand are now viewed as nothing more than a revenue stream. 

 

I have done every one of my extensions myself.  Each one by the rules and never using an agent. I have spent countless amounts of money (and time) to support my family and other people in the community.

 

But, despite all of this, the decision of whether or not I will be torn from my family comes down to a bank account balance. And, if that balance falls just 1 satang below the required 400thb amount, my family life is destroyed. 

 

Expat retirees living in Thailand are currently under siege. Unfortunately many do not yet realize it.

 

Many years ago I was split between retiring in Indonesia or Thailand. In hindsight (a worthless commodity) I was a fool to chose Thailand.

 

I read last year that the Indonesian government now offers a 25 YEAR visa to expats that marry an Indonesian girl. The only requirement to apply is that the newly weds must have already been together for a year.

 

As fate would have it, I came to Thailand and fell in love with my beautiful Sawan. Now I find my life balancing upon the edge of a bottomless abyss. And an error of just 1 satang will cause me to topple in.

[TheThai]

6 minutes ago, ozmeldo said:

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

 

I'm not sure where you are from but there are more American expats living in the Philippines than in Thailand.

 

[brokenbone]

its going to take time for me to save up the money,

and i have totally forgotten how to live frugal,

i'm not sure i can re-learn even.

[TheThai]

1 minute ago, Benroon said:

Always the Philippines - lovely restful little country where shoot on sight is positively encouraged, one of the highest murder rates in the world, and THE highest in South East Asia - off you go, enjoy ! 

No where did I state I was moving to the Philippines.  I was responded to the fact he stated he didn't know of a country that didn't require the financial responsibilities that Thailand is now requiring.

Below is statistics of crime rate.   Thailand actually has a higher crime rate than the Philippines.
https://www.worldofbuzz.com/malaysia-ranks-number-1-south-east-asia-highest-crime-rate/

[overherebc]

Won't be forced to leave but plans we've talked about on leaving to live somewhere else will probably move up a gear.

Maybe like some others it isn't really a yes or no question.

Have I reached the point where I feel Thailand has become less enjoyable for me, probably, but is that because of Thailand or because I've changed, probably the latter.

I feel more and more uncomfortable here. Since leaving UK in 1968 been working living overseas and spent more time in Thailand on a full time basis than anywhere else.

This year will be one way or the other.

[ozmeldo]

11 minutes ago, Khaeng Mak said:

After many decades here. These new rules may indeed tear me from my family and leave me to fend for my self at a time in my life when I am most vulnerable and need their support.  It is clear there is no thought given to humanitarian issues each time each of these recent changes have been cooked up. As retirees is now perfectly clear that we are viewed as nothing more than a revenue stream. 

 

I have done every one of my extensions myself.  Each one by the rules and never using an agent. I spent countless amount of money (and time) support my family and other people in the community.

 

But, despite all of this, the decision of whether or not I will be torn from my family comes down to a bank account balance. And, if that balance falls just 1 satang below the required 400thb amount. My family life is desecrated. 

 

Expat retirees living in Thailand are currently under siege. Unfortunately many do not yet realise it.

High drama here

 

Life is based on similar situations and circumstances.

 

It's what often drives migration, families are routinely broken up so breadwinners can chase money to feed their families.

 

What do you expect from the country? Permanent residency for being broke? That's a serious question, not being flippant.

[bojo]

39 minutes ago, Moonlover said:

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!

Well Egypt, that's a first for me coukld interestingly be a genuine topic for another day. After all, comparisons with the kingdom and Phillippines are wearing thin...

[Antonymous]

I have lived most of my adult life in Thailand; have worked here, employed hundreds of Thai people, made money here and am now early retired. I can meet the money in the bank requirement for Retirement Extensions and have investments here in Thailand that should see me through to 90+ yo.

 

But I don't have an "I'm alright Jack" attitude about it. I have the greatest sympathy with the many decent folk who were not breaking any rules before, have retired and made their life here on the basis of previous requirements, but cannot now meet these new requirements. It must be a devastating time for them.

 

Fact is that the rules could be changed again and again over the coming years and I too might one day be in the same situation. For people like me who do not keep money overseas and if Immigration demand that money be brought into Thailand every year, we'd be f*$#ed.

[ozmeldo]

5 minutes ago, TheThai said:

No where did I state I was moving to the Philippines.  I was responded to the fact he stated he didn't know of a country that didn't require the financial responsibilities that Thailand is now requiring.

Below is statistics of crime rate.   Thailand actually has a higher crime rate than the Philippines.
https://www.worldofbuzz.com/malaysia-ranks-number-1-south-east-asia-highest-crime-rate/

Philippines is sketchy as hell. Armed guards everywhere. Open shops are caged in. It's one step from open civil war and food riots. Most subsisting on 2-3 dollar a day.

 

Expat scams around. You'll have a target on your back the moment you step off the plane.

[Peter Denis]

I stopped working at 60 and live in Thailand now making use of the ME visa option (living close to the cambodian border makes it easy to do a 2-monthly border-run).  I have enough funds but unfortunately cannot yet apply for a retiree visa as one of the - illogical - requirements from the thai embassy in Belgium for such a visa is that you need to demonstrate both enough funds (over 800.000 THB) as well as proof of monthly income.  But as I stopped working I do not have such monthly income, and hence have to wait till I am 63, when I will get my monthly pension.  The moment I have at least 3 monthly pension payments I will apply for the retiree visa.  To answer the survey question > I am in the lucky circumstance that parking 800.000 THB or more on a thai bank account is no issue.  And that's what I will do, so there will be no problem demonstrating that I meet the requirements for extension of my retiree visa once I have it.  But I do feel for the farangs who do not have 800.000 THB 'spare money' and are now in the rather difficult position to cough up 400.000 THB and will be confined to make use of the 'agency trick' for the remainder 400.000 THB. 

[Saladin]

It would help if the media were to press the Thai government to specifically state what they are trying to achieve regarding retirees. Do they want foreign capital pouring into the country without risk or effort, or not? If that's the aim, then why not make it as easy as possible for retirees, rather than constantly erecting Donald Trump style obstacles. Where is the logic in spending $millions to entice foreign tourists to spend their money in Thailand while at the same time, encouraging retirees to spend their money somewhere else? This is Alice in Wonderland stuff - curiouser and curiouser!

[ozmeldo]

Who says this is spare money? I'm well under 60. I'm working my ass off to reduce my cash burn until I hit 62. I swore I'd never marry, but at 50 I did. Wife will need to work another five years after that.

 

It's not as though putting (400)800k in the bank at 1% doesn't bug the hell out if me OR that I don't have other investments that can be made.

 

It's the requirement.

 

I fully accept when it doesn't work for me, I'm gone. Thailand never has done me one damn favor. Despite being married, I live on NON IMMIGRANT extensions. Such an insult, especially what I contribute to the public education system and Thai students here.

 

The wealthy and powerful hate us. We are a challe6to the oligarchy and kleptocracy. All quite happy we go.

[madmen]

This really interesting. The haters are obviously the most vocal on TV predicting the crash of the economy and the real estate sector with a mass exodus of expats 

 

However the figures between leaving and staying are 72% stay 6% leave 

Great poll, very big eye opener! 

[natway09]

You want to adopt this country as your retirement home,,,, yet are not prepared to put 800,000 Bht in a bank in Thailand,,,,, maybe you should go back to your safe haven where they 

will coddle you for the rest of your life.

[simon43]

After living in Thailand for almost 20 years, I too am seriously considering my options.  I currently live in Thailand on an Elite visa that is due for renewal (and 500,000 baht payment) in 18 months from now.  I have of course the option of a 'retirement' visa (I'm almost 60 years old).

 

But as others have pointed out in this thread, the sums may be affordable, but the uncertain future is the main driver behind considering another destination.  As several have stated 'I just want to have a quiet life without any hassles'.

 

I'm seriously thinking about moving back to live in the High Pyrenee region of south-west France, (where I used to live).  Just minutes from cross-country skiing, Navarra in Spain, fine French food and wine, the Med and Atlantic coasts a few hours away etc.  I used to go hiking in the mountains most days when I lived there.

 

I have a UK passport which is still 'good' to live in EU countries, and my Irish ancestry means I can also get Irish citizenship if I need it.

 

The last time that I bought a small stone cottage with land in that region, I paid the equivalent of $20,000 USD.  I just checked on prices in similar villages for a solid house that needs renovating (I love DIY!).  The price?  Still $20,000......... and I can own it 100%

 

 

 

 

[anon7854]

Most people who bash Philippines never been to that place. It's more dangerous in Brooklin that Manilla. It's weird how the Philippines is the "11th most dangerous country for tourists" because of the Islamic insurgency in a tiny part of the southernmost islands where there is zero tourism (neither local or international). Thailand has the same problem with Islamist rebels in southern Thailand, but western media does not report on it. Same with Indonesia, Myanmar, and Vietnam. And even more so for Maldives, where the government seems to openly support ISIS.I lived in Singapore for a while, and Filipino are some of the most friendly, smiley, positive and genuine people I know, but "some" will also try to take advantage of you. Nevertheless, it should be straightforward to recognize those few rotten apples and enjoy your time there.

[Chongalulu]

45 minutes ago, TheThai said:

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.

Read the original police order more carefully-it IS transfers from abroad, hence the other threads about many fx companies like Transferwise transactions appearing on your statement as domestic because of the intermediary bank used before arriving in your Thai bank account. You could (if you have an account) use a normal bank to do the transfers but their charges are up to £25 (1000 baht) per transaction so an extra 12000 per year to use ,and a worse exchange rate. You cannot rely on statements from Transferwise to prove the transaction to immigration officers- for most it will be too complicated to understand.

[worgeordie]

People seem to be making a big fuss about the changes,

which really only boil down to having the cash in the bank

a bit longer,only go to immigration once a year,90 days done

online,been here 31 years and Thailand has been very good

to me,so hopefully i will die here,and stay here,as i already

have a grave bought in the foreign cemetery.

regards worgeordie

[Chongalulu]

1 minute ago, worgeordie said:

People seem to be making a big fuss about the changes,

which really only boil down to having the cash in the bank

a bit longer,only go to immigration once a year,90 days done

online,been here 31 years and Thailand has been very good

to me,so hopefully i will die here,and stay here,as i already

have a grave bought in the foreign cemetery.

regards worgeordie

Not only a 'bit longer' (3 months after visa issued) but 400k permanently untouchable- so not useable in an emergency 

[wobalt]

Not because of the financial requirements but because of the unrespectfully treatment by immigration and Alikes.


Gesendet von iPad mit Thaivisa Connect

[Bournville]

I think it's time for me to leave... the smugness from the posters here is sickening. 

[NCC1701A]

ring ring:

 

"I just look survey Thai Visa Nation. 70% Farang say they have no problem with $800,00 and not leave."

"Shit. Give order to increase to 1,600,000. Maybe what will work."    

[melvinmelvin]

2 hours 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

I do the same, 800k in bank, reserved for immigration purposes,

so far that seems to be OK within the new rulez-

 

More worrying is the foreign currency exchange rates

and the escalating costs re health care

 

[tandor]

1 hour ago, korkenzieher said:

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.

..good words..i have that uneasy feeling that more changes are in the wind ie increasing the 800k to one million.

[bojo]

19 minutes ago, simon43 said:

After living in Thailand for almost 20 years, I too am seriously considering my options.  I currently live in Thailand on an Elite visa that is due for renewal (and 500,000 baht payment) in 18 months from now.  I have of course the option of a 'retirement' visa (I'm almost 60 years old).

 

But as others have pointed out in this thread, the sums may be affordable, but the uncertain future is the main driver behind considering another destination.  As several have stated 'I just want to have a quiet life without any hassles'.

 

I'm seriously thinking about moving back to live in the High Pyrenee region of south-west France, (where I used to live).  Just minutes from cross-country skiing, Navarra in Spain, fine French food and wine, the Med and Atlantic coasts a few hours away etc.  I used to go hiking in the mountains most days when I lived there.

 

I have a UK passport which is still 'good' to live in EU countries, and my Irish ancestry means I can also get Irish citizenship if I need it.

 

The last time that I bought a small stone cottage with land in that region, I paid the equivalent of $20,000 USD.  I just checked on prices in similar villages for a solid house that needs renovating (I love DIY!).  The price?  Still $20,000......... and I can own it 100%

 

 

 

 

Yes, lots of options worldwide and some with employment options too.

Apparently, cigarette smuggling was the goto biz in the late nineties, not sure if it still flies under the radar though !!!

But seriously, and jokes aside, there's alot more stimulating destinations than just SE Asia........

[Sheryl]

1 hour ago, TheThai said:

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.

On the contrary, It clearly states proof of monthly transfer from abroad.

 

"Bank statement showing money transfer from overseas  every month for the past 12 months".

 

 

 

[HLover]

1 minute ago, tandor said:

..good words..i have that uneasy feeling that more changes are in the wind ie increasing the 800k to one million.

No.

Since 9 is a lucky number 999,000 would be a safer prediction.

[Sheryl]

The more I think about this, the harder it is to understand what these new rules re 800K are expected to achieve.

 

If the problem is foreigners living here without adequate means to support themselves (and I agree that happens and is a concern), how does tying up people's money so they can't spend it under any circumstance help with that? On the contrary I would say that by requiring what amounts to a 400K bond, all you do is deplete people's savings by 400K thereby likely increasing the numbers of people without adequate financial buffer to fall back on.

 

If the problem is illegal extensions being granted, nothing in this law addresses that.  Agents abetted by corrupt IOs will get around these new requirements just as easily as they did the old.

[melvinmelvin]

39 minutes ago, simon43 said:

After living in Thailand for almost 20 years, I too am seriously considering my options.  I currently live in Thailand on an Elite visa that is due for renewal (and 500,000 baht payment) in 18 months from now.  I have of course the option of a 'retirement' visa (I'm almost 60 years old).

 

But as others have pointed out in this thread, the sums may be affordable, but the uncertain future is the main driver behind considering another destination.  As several have stated 'I just want to have a quiet life without any hassles'.

 

I'm seriously thinking about moving back to live in the High Pyrenee region of south-west France, (where I used to live).  Just minutes from cross-country skiing, Navarra in Spain, fine French food and wine, the Med and Atlantic coasts a few hours away etc.  I used to go hiking in the mountains most days when I lived there.

 

I have a UK passport which is still 'good' to live in EU countries, and my Irish ancestry means I can also get Irish citizenship if I need it.

 

The last time that I bought a small stone cottage with land in that region, I paid the equivalent of $20,000 USD.  I just checked on prices in similar villages for a solid house that needs renovating (I love DIY!).  The price?  Still $20,000......... and I can own it 100%

 

 

 

 

if you are financially and physically fit, don't hesitate,

go southern France/northern Spain, very nice area

 

there one can live in peace and quiet and in harmony with nature

 

being EU/EEA you are also entitled to health care on par with the locals, and at the same cost as the locals