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

[NCC1701A]

Ring ring:

 

"Hello. This is big boss immigration."

"Hello.This is big boss of all Thai banks. Real Estate bubble burst soon. We need more foreign cash."

"OK. I will see what I can do. What do I get?"

"Platinum Visa with 50,000 reward points." 

[RichardColeman]

The problem is not what they do so much now, but what they may do in the future. I am quite lucky, I can from this year get enough from renting my uk house out and combine it with my pension to meet 65k a month - and most importantly have an escape route by not madly selling my house and moving 100% to Thailand. This said , I do fear an exodus - from what I read of the poll above 30% would be leaving - that is not a small amount and will seriously impact on the local economy of small businesses. Also I would say at least  - at least - 90% of my friends will fall foul of this demand if they cannot use agents. They are not just Brits, but Aussies, Irish, Europeans and other country citizens - they all have family who are soon going to be potless and there is little they can do to support them. 

[brokenbone]

does marry visa require money in bank or is

embassy confirmation on income enough ?

ed: for the time being i mean

[Pattaya46]

4 minutes ago, spidermike007 said:

It does appear that this administration, and especially the biggest joke, are trying to do everything in their power to discourage ex-pats from staying here. Does it not? These imbeciles should be making our lives easier, and making visa policy simpler. Rather they seem to be tightening the noose, every chance they get. To call them ignorant, fearful, xenophobic, non-visionary, and misguided would be a vast understatement. 

Big Joke said he wanted to make things easier (he by example talked about finishing the 90-Days reports) but the present change of (some) rules is a consequence of many people staying illegally in Thailand (not all farangs, not all retirees).

If a few farang retirees may now find themselves in a difficult situation it's just some small collateral damage to their war against illegal people. The main people to blame now are those who were using these agents, main reason of this strengthening of laws...

[scorecard]

But a question:

 

- Is there yet any totally clear full information on 'the new financial arrangements'?

 

From things I read on TV seems there'd is still plenty of confusion.

[wgdanson]

15 minutes ago, BritManToo said:

Yes, Natwest Bank to Transferwise, to Bangkok Bank less than 24hrs.

Charges are around 7 pounds per 1000 pounds, and exchange rate is XE.com rate.

First Direct is FREE and last Friday £1650 took 3 hours to be in my Bkk Bank as an FTT at the correct rate, over 65000THB.

 

And the beauty is, I can spend as much of it as I want/need to, and do the same next month, and next month.......

 

Why the hell do I read all the threads and posts on this subject. I'm alright Jack, and everyone else.

[RichardColeman]

So, send money to Thailand, get paypal out from thai bank, paypal to uk bank, top up and send again. wonder if the charges beat moving ?  Thai banks paypalable ?

[Khaeng Mak]

2 minutes ago, RichardColeman said:

The problem is not what they do so much now, but what they may do in the future. I am quite lucky, I can from this year get enough from renting my uk house out and combine it with my pension to meet 65k a month - and most importantly have an escape route by not madly selling my house and moving 100% to Thailand. This said , I do fear an exodus - from what I read of the poll above 30% would be leaving - that is not a small amount and will seriously impact on the local economy of small businesses. Also I would say at least  - at least - 90% of my friends will fall foul of this demand if they cannot use agents. They are not just Brits, but Aussies, Irish, Europeans and other country citizens - they all have family who are soon going to be potless and there is little they can do to support them. 

And what of the loss of expat "community". How will Thailand attract any new retirees if there is no other expats for them to hang out with. The gradual decline in retirement extension renewals will gain moment quickly and turn into a full blow rush for the exits.  Just the old and sick like me will remain.

[mokwit]

28 minutes ago, Sheryl said:

Not with this system, though. In fact there is an incentive to spend as little as possible so as to reduce the amount one has to bring in to live on beyond the required 800K.

I have a feeling I will end up spending as little as possible just to thwart them.

[Khaeng Mak]

5 minutes ago, Pattaya46 said:

Big Joke said he wanted to make things easier (he by example talked about finishing the 90-Days reports) but the present change of (some) rules is a consequence of many people staying illegally in Thailand (not all farangs, not all retirees).

If a few farang retirees may now find themselves in a difficult situation it's just some small collateral damage to their war against illegal people. The main people to blame now are those who were using these agents, main reason of this strengthening of laws...

No.  I have been here for decades and done everyone of my extensions legal and in person. These current changes may well tear me from my family. My family is under siege and we are not "illegal people" to use your vernacular.

[Khaeng Mak]

4 minutes ago, RichardColeman said:

So, send money to Thailand, get paypal out from thai bank, paypal to uk bank, top up and send again. wonder if the charges beat moving ?  Thai banks paypalable ?

Can't withdraw money via paypal from Thai Bank. You can (of course) deposit it.

[NoshowJones]

3 hours ago, Hans Rayong said:

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

I bet it is not the UK.???? Your name may suggest that you do not come from the UK, but the UK is

full of all nationalities, especially if it starts with M. ????

[jmd8800]

11 minutes ago, RichardColeman said:

The problem is not what they do so much now, but what they may do in the future. I am quite lucky, I can from this year get enough from renting my uk house out and combine it with my pension to meet 65k a month - and most importantly have an escape route by not madly selling my house and moving 100% to Thailand. This said , I do fear an exodus - from what I read of the poll above 30% would be leaving - that is not a small amount and will seriously impact on the local economy of small businesses. Also I would say at least  - at least - 90% of my friends will fall foul of this demand if they cannot use agents. They are not just Brits, but Aussies, Irish, Europeans and other country citizens - they all have family who are soon going to be potless and there is little they can do to support them. 

Where do you get 30% will be leaving? I don't see that at all.

[NoshowJones]

3 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

The big word here is "supposed".

[Pattaya46]

2 minutes ago, Khaeng Mak said:

No.  I have been here for decades and done everyone of my extensions legal and in person. These current changes may well tear me from my family. My family is under siege and we are not "illegal people" to use your vernacular.

What "No" ?  Of course "Yes".  Big Joke said it himself. Too many people staying illegally here using agents.

(PS: Doesn't mean that all people touched by the change were there illegally! As I said: collateral damage…)

[mfd101]

2 hours ago, HLover said:

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

In the last 2 hours, as the number of replies has increased from 102 to 249, the distribution between the 3 possible replies in the survey has barely moved. Which suggests, to my surprise, that the survey results may well be quite representative of (at least) the ThaiVisa expat population.

[Pattaya46]

1 minute ago, jmd8800 said:

Where do you get 30% will be leaving? I don't see that at all.

Probably 30% of the few members who say for years that they will leave... 

[crees]

If you really want to live in Thailand, go through the path of becoming a Thai Buddhist Monk. I took that road some years ago and it turned out to be the turning point in my life. Life is full of surprises for the one's who are not afraid of something new. I was Ajon Khanti Palo Dama at Wat Nong Wang. It cost me nothing, and brought me everything in life. My wife was a Nun at that time, she was a teacher at the Temple school.

[mokwit]

24 minutes ago, NanLaew said:

Living ATM-to-mouth is just as risky IMHO. I was working in Brazil for a couple of years around 1995, happily sucking my locally-earned, overseas banked and non-domiciled cash out of ATM machines. While I was on a beach idyll in Jericocoara, they changed the rules and when I got back to the city, I found that foreign bank-issued plastic didn't work in any ATM any more. Luckily for me, Miss Anna Keila Silva da Silva, my bit-titted squeeze at the time was not only well-endowed but also well-minted.

Sigh, I also spent time in Jericocoara (with a most generously endowed [real female*] law student from Fortaleza). Looking back from a lifetime later I am wondering why i didn't stay there. I hurried back for deadlines for PhD applications but realised when I got back that i didn't want to do a PhD anymore - as I have explained since, I went to Brazil and corrupted myself and my aspirations changed.

 

BTW Brazil retirement visa they will accept 5 years of Dividends Coupons over 26k - but it is an 'at the discretion of the IO' deal - internet research not actual personal experience

 

*as this is Brazil we are talking about i felt it best to clarify this.....................

[NoshowJones]

3 hours 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. 

and if it doesn't, sure as night follows day it will be something else to our disadvantage.

[ThomasThBKK]

I bet it is not the UK.[emoji2] Your name may suggest that you do not come from the UK, but the UK is
full of all nationalities, especially if it starts with M. [emoji848]

Prolly german or similar, our embassy still does the income letter. So do most, only 4 or 5 stopped doing it for reasons only they know.

Sent from my LYA-L29 using Tapatalk

[NanLaew]

12 minutes ago, BritManToo said:

Yes, Natwest Bank to Transferwise, to Bangkok Bank less than 24hrs.

Charges are around 7 pounds per 1000 pounds, and exchange rate is XE.com rate.

Then you are like me and do at any time have cash in a Thai account.

 

Natwest transfer charges are 15 quid regardless of the wedge so I truck in ~150k baht/m which posts in Bangkok Bank the following day around 09:00. If I need  more cash urgently, I found if the transfer is set up on NW online before 08:00 UK time Mon-Fri, it posts around 13:00 local time, same day here.

 

I think I will set up a TW account as a backup though.

[NanLaew]

24 minutes ago, wgdanson said:

Not if you highlighted say £1000 on a Transferwise statement on 1st Feb, and a deposit into your Bkk Bank for Bht 40xxx on 2nd Feb. Surely even an IO would understand that

Ahhh... Grasshopper...

[Nowisee]

21 minutes ago, Pattaya46 said:

Big Joke said he wanted to make things easier (he by example talked about finishing the 90-Days reports) but the present change of (some) rules is a consequence of many people staying illegally in Thailand (not all farangs, not all retirees).

If a few farang retirees may now find themselves in a difficult situation it's just some small collateral damage to their war against illegal people. The main people to blame now are those who were using these agents, main reason of this strengthening of laws...

Nonsense.  The people to blame are the agents and corrupt I/O. 

 

15 minutes ago, mokwit said:

I have a feeling I will end up spending as little as possible just to thwart them.

555, that's my thinking too.  I spend when I travel abroad or back to farangland. Just the very basics here.

[mokwit]

27 minutes ago, Khaeng Mak said:

You're describing me.

My sympathy to you and all the others- your situation has alerted me to what could become my situation.

[overherebc]

4 minutes ago, crees said:

If you really want to live in Thailand, go through the path of becoming a Thai Buddhist Monk. I took that road some years ago and it turned out to be the turning point in my life. Life is full of surprises for the one's who are not afraid of something new. I was Ajon Khanti Palo Dama at Wat Nong Wang. It cost me nothing, and brought me everything in life. My wife was a Nun at that time, she was a teacher at the Temple school.

Don't think that's an option for someone 65/70 plus.

Wouldn't think that spending their life in safron robes and getting up with the sun every morning is part of their plans.

[NoshowJones]

2 hours 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!

"will just make the crooked police and visa agents richer".  Is that not what it is all about?

 

[dcnx]

3 hours 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.

That’s the thing. Even those who meet today’s requirements might not be able to 5 years from now when it’s raised without warning to 2 million or whatever number they pull from their bum.

 

The goal post is ever changing and while it might be easy to relocate today, how about when you’re 70 or 80? 

 

I dont think most people are thinking mong term about any of this. The rules will continue to change and not in your favor. It doesn’t make sense to continue betting on something that you can’t win.

[Khaeng Mak]

10 minutes ago, crees said:

If you really want to live in Thailand, go through the path of becoming a Thai Buddhist Monk. I took that road some years ago and it turned out to be the turning point in my life. Life is full of surprises for the one's who are not afraid of something new. I was Ajon Khanti Palo Dama at Wat Nong Wang. It cost me nothing, and brought me everything in life. My wife was a Nun at that time, she was a teacher at the Temple school.

I look terrible in saffron.

[mokwit]

25 minutes ago, RichardColeman said:

The problem is not what they do so much now, but what they may do in the future. I am quite lucky, I can from this year get enough from renting my uk house out and combine it with my pension to meet 65k a month - and most importantly have an escape route by not madly selling my house and moving 100% to Thailand. This said , I do fear an exodus - from what I read of the poll above 30% would be leaving - that is not a small amount and will seriously impact on the local economy of small businesses. Also I would say at least  - at least - 90% of my friends will fall foul of this demand if they cannot use agents. They are not just Brits, but Aussies, Irish, Europeans and other country citizens - they all have family who are soon going to be potless and there is little they can do to support them. 

The authorities have implemented their ideal, the 'stay at home and just send the money' visa via the backdoor- people will be forced back home but will still send money to family left in Thailand. A masterful stroke by BJ.