New financial regulations for retirees: Nearly a third of expats may have to leave - but half on Facebook say they're off!

[RocketDog]

19 hours ago, smedly said:

The rules were fine before these changes - there is a principle here which causes me to reject these rules as totally absurd, we now have to season 800k baht for 6 months and not allowed to touch 400k baht of my own money - there is just something fundamentally wrong with that, it serves no purpose at all

 

They need to rethink this - very pissed off

As an earlier poster pointed out, it does serve a very credible purpose, at least a logical one. 

It is a source of payment for any non-citizens who incur debt here for damages, hospital, etc. They can leave but their money will stay in country to settle the debt. 

Many countries require bonding of new immigrants in similar ways. 

 

I may not like it but I can't say it's ridiculous. 

[Pattaya46]

24 minutes ago, Andrew Dwyer said:

For applications for O-A the money can be in any bank, I.e. your home country.

Note: that applies for the UK , not sure about other countries.

Each Thai Embassy makes its own rules.

French one is well know to be a very difficult one .

They do have a rule that from your second O-A you must have 800k in a Thai bank... 

[fresher]

21 hours ago, spidermike007 said:

 He is the single biggest threat to the ex-pat community right now. 

 

The main threat seems to be to the low-income expats. Those with over 65Kpa just have to have a Thai bank account and pay their income into it. Some may not like it, but not too difficult apparently. I don't think the current decision-makers are stupid. Follow the money.

[SteveK]

1 minute ago, fresher said:

The main threat seems to be to the low-income expats. Those with over 65Kpa just have to have a Thai bank account and pay their income into it. Some may not like it, but not too difficult apparently. I don't think the current decision-makers are stupid. Follow the money.

Nothing wrong with the people making the decisions, it's the people who can't understand or keep up which are causing the issues. Relatively small deposit or decent regular income and you're fine.

[robblok]

4 minutes ago, pr9spk said:

Nothing wrong with the people making the decisions, it's the people who can't understand or keep up which are causing the issues. Relatively small deposit or decent regular income and you're fine.

I think all of this shows that many just did not have the money and their embassy enabled them to stay here without the means. I was ridiculed before when i said it was far more wide spread then people thought.

 

Its sad but many of those retirees cheered when tourist visa abuse was taken care of and when language school abuse was exposed. 

 

I wish the regulations as a whole were a lot less strict, its not as if many people were stealing jobs from Thais. That is in the head of the Thais, most work that foreigners do is teaching English and many do it good.

[Andrew Dwyer]

Each Thai Embassy makes its own rules.
French one is well know to be a very difficult one .
They do have a rule that from your second O-A you must have 800k in a Thai bank... 

Okay, I didn’t know that.
An unfortunate ruling in this situation.

[SteveK]

1 minute ago, robblok said:

I think all of this shows that many just did not have the money and their embassy enabled them to stay here without the means. I was ridiculed before when i said it was far more wide spread then people thought.

 

Its sad but many of those retirees cheered when tourist visa abuse was taken care of and when language school abuse was exposed. 

 

I wish the regulations as a whole were a lot less strict, its not as if many people were stealing jobs from Thais. That is in the head of the Thais, most work that foreigners do is teaching English and many do it good.

I like the fact that they are strict, in the UK I could probably find a dozen illegal workers within half a mile of my house, and I wouldn't need to look very hard.

[dallen52]

Went to Jomtien immigration yesterday to report residency after returning from overseas again.

To be greeted with the attached, and not only hoardes of Chinese in the queues., but all the immigration officers dressed in Chinese clothes and regalia..

 

Wonder if they are doing British day, St Patrick's day, and all the other days too?

 

Needless to say I have to return today with the six pieces of paper. 

 

And oh, it clearly says on the form that Bangkok has to notify residence too. 

 

My visa (retirement extension) runs out March 11, hardly seems worth it. 

 

Btw.  Had another one offer the service for 15,000 in pattaya yesterday. 

Three day turnaround. 

 

[inThailand]

Maybe it's time to become a Chinamen, for they will probably get this visa money issue waived? 

[ginjag]

22 hours ago, geriatrickid said:

LOL. No, it won't. The loss of the lower end of the financial strata will be insignificant, because of the change in visitor  demographics. The Russian and Asian visitor segments are experiencing double digit growth and they  present a much better value proposition for the Thais.

ANY loss to any business is unhealthy, If the sales rise you would never ignore the lost sales. The lost sales would have added to the rise in revenue had there not been cleansing.

[Nowisee]

51 minutes ago, RocketDog said:

As an earlier poster pointed out, it does serve a very credible purpose, at least a logical one. 

It is a source of payment for any non-citizens who incur debt here for damages, hospital, etc. They can leave but their money will stay in country to settle the debt. 

Many countries require bonding of new immigrants in similar ways. 

 

I may not like it but I can't say it's ridiculous. 

 

IF that were a valid reason or explanation to holding hostage 400k, then everyone coming into Thailand on holiday would have to post this "bond".

[stanleycoin]

10 minutes ago, inThailand said:

Maybe it's time to become a Chinamen, for they will probably get this visa money issue waived? 

not sure if it will work, now days.

 

[HuskerDo]

1 hour ago, pr9spk said:

Thailand doesn't want warm and friendly retirees, it wants people who can support themselves financially and hopefully support their wife's family as well, if they are married. That is a very sad state of affairs, but it is real.

 

You say that everyone is equal but in Thailand there are two kinds of people: people with money and people without. There is zero welfare for foreigners, nor should I imagine that there will ever be.

 

If you can't meet these basic financial requirements, you should go somewhere else.

 

That may sound harsh, but is the stark truth of the country and better that people understand this than have some kind of rose-tinted view of something that does not exist.

 

To get back to the original point, I was only trying to point out that the new deposit requirements are quite reasonable, and if someone cannot meet them at the later stages of their life then there are other places for them to go. Criticise all you want but I am just saying how it is in an effort to stop people from deluding themselves. Things have slowly been getting worse for years now, and it seems like the trend will only continue.

 

If you can meet the requirements, then Thailand is a beautiful country with lovely people and food, just watch out for the grumpy ex-pats! ????

 

If you retired here on false promises and a paltry pension, I'm sorry about that, but there are lots of things you can do to improve your situation.

PR, please, you are being a bit harsh in a number of your responses. While I agree that people should have planned better there are some that indeed ARE very good citizens here that don't meet the new requirements. While you and I both agree that people should have maybe saved a bit more or worked a while longer before they chose to retire to Thailand it doesn't mean they need to be disrespected. Having a certain amount of money doesn't make a person a good person. It's what's inside them that counts.

 

We should wait for TI to make a final decision on things but I'd like to encourage all affected in a negative way by the new requirements to contact the US Embassy or Consulate to make a case for making things better for your situation. 

[FritsSikkink]

14 hours ago, jesimps said:

 

It isn't YOUR ego that I'd like to hurt. Smug isn't the word. Another one who used to drop all his classmates in the cart at school by siding with the teacher. Bet you got a regular ass kicking from your chums. What is it exactly that makes you get off on other peoples struggles? Not just you, there's a small cabal on here who's G-spots seem to get tickled by it.

Sadly for you I never sided with the teacher and nobody was able to kick my ass. I am happy to see the people go who are economic refugees, feel superior to the Thais and don't let a moment pass by to insult them.

[atyclb]

13 hours ago, marcusarelus said:

15 hours ago, atyclb said:

 

doubt it as their own non education system and culture renders a high % resistant to learning regardless of who is teaching

While you are talking about learning perhaps you should learn what a controlled currency is and what the difference between the Thai Baht and Vietnamese Dong is before giving people financial advice that could prove very harmful.

 

my intent is not to give financial advice. i just shared knowledge. i never told people what they should or shouldnt do. a friend that is highly experienced mba with expertise in currencies did invest in such a high % account and no problem thus far.

 

if you have expertise in currencies please share your knowledge so others can learn.

[FritsSikkink]

17 hours ago, possum1931 said:

Yes, the ones with the Elite Visas, and the short stay holidaymakers.

And the pensioners who have 800K in the bank or 400K when married, people who have an ED visa and the ones who have a job with a proper visa.

[atyclb]

1 hour ago, holy cow cm said:

You missed what I said. 30k - 40k in most Thailand areas is more than enough to live comfortably supporting yourself and if have wife her too.  Many retirees put all their money into condos or homes and automobiles and have or had (until now) a very good comfortable life. They have an income so they are not poor, as before or even now some just don't or can't meet the 65k pompous bar with the 800k trump card. Having 800k locked up even makes it more ridiculous and then the exchange rates are something else. Most all Thai even people like engineers, sales, managers, teachers etc don't make near 30k and they are professionals. 30k is a good salary for them. It is Thailand, but seems the current powers that be are becoming extremely prejudice against foreigners. And the terrible reality is, you are correct, if something isn't switched up on these new rules, it is going to hurt a lot of people who are good people. 

 

You se, I don't bash out and say poor people because 30-40k is respect is not poor or even living frugal here. .

 

and some have invested in multiple condos and can live virtually rent free but zero consideration for this highly relevant fact towards obtaining a visa.

[ginjag]

1 hour ago, holy cow cm said:

You missed what I said. 30k - 40k in most Thailand areas is more than enough to live comfortably supporting yourself and if have wife her too.  Many retirees put all their money into condos or homes and automobiles and have or had (until now) a very good comfortable life. They have an income so they are not poor, as before or even now some just don't or can't meet the 65k pompous bar with the 800k trump card. Having 800k locked up even makes it more ridiculous and then the exchange rates are something else. Most all Thai even people like engineers, sales, managers, teachers etc don't make near 30k and they are professionals. 30k is a good salary for them. It is Thailand, but seems the current powers that be are becoming extremely prejudice against foreigners. And the terrible reality is, you are correct, if something isn't switched up on these new rules, it is going to hurt a lot of people who are good people. 

 

You se, I don't bash out and say poor people because 30-40k is respect is not poor or even living frugal here. .

To compare a Thai family in the house opposite mine.   salary --their teacher pay 25k a month,  my UK pension 25k a month.  they have a Toyota Yaris NEW, I have a Nissan March NEW.   they shop for food locally as I do, and cook at home.  They not drink the same as me their water/electric bills compare to mine.

Last year, August I deposited 550,000 in a Thai bank together with my pension made up the 800k.   with the letter from the UK embassy BKK, and the deeds of my home to confirm my address in Udon.

What has changed is drastic, as you see I lived a very comfortable life in my air con 3 bed bungalow.     ( just look at the snobs and stupid remarks made by posters about if you not have 65k you should not be here )   Admitted Had I known I would not have bought my new car, but the new rules are too heavy.  My only problem is I am single BUT have 3 house cats and 2 dogs (my family)  I cannot move---also I cannot stay yesterday I got my second 90 day report with now only having my May one to do.

Alternatives  ????  none ----BUT  give away 500k and get a 5 year elite card.     Had I not had the animals I would have sold the car and belongings and returned to the UK.

ALL a bit awkward at 76 years of age isn't it ??

[atyclb]

9 minutes ago, FritsSikkink said:

And the pensioners who have 800K in the bank or 400K when married, people who have an ED visa and the ones who have a job with a proper visa.

 

is it me having a bizarre perception but it seems someone married and thus supporting a family would be the party required to show the higher amount 800k rather than 400k as a non married person is not obliged to support a family.

[HuskerDo]

13 minutes ago, FritsSikkink said:

Sadly for you I never sided with the teacher and nobody was able to kick my ass. I am happy to see the people go who are economic refugees, feel superior to the Thais and don't let a moment pass by to insult them.

"I am happy to see the people go who feel superior to the Thais and don't let a moment pass by to insult them"

 

This I agree with.

[bkkcanuck8]

54 minutes ago, robblok said:

I think all of this shows that many just did not have the money and their embassy enabled them to stay here without the means. I was ridiculed before when i said it was far more wide spread then people thought.

 

Its sad but many of those retirees cheered when tourist visa abuse was taken care of and when language school abuse was exposed. 

 

I wish the regulations as a whole were a lot less strict, its not as if many people were stealing jobs from Thais. That is in the head of the Thais, most work that foreigners do is teaching English and many do it good.

I made the same observation when retirees were cheering the crackdown on educational visas -- then tourist visas - I said sooner or later they would come around to retirees -- to which the general response was no - they would never because they are the golden boys and Thailand's economy would crater if they did etc. etc. etc.   For those that were abusing the system, who really did not qualify, to those that used agents who allowed you to qualify by shifting money around (but never letting it out of their control so technically it could not even be considered a loan) -- or by having embassies give you a letter for income that you did not really have... All I can say is ... I hear knocking at the door now and the screams of anguish at "how dare they" is sort of a little funny to read.  It does not mean I would not feel sorry for some on a one-to-one basis... but it is really no big surprise.   I guess everyone that is not leaving should maybe keep a look out for great deals on Craig's List ????

[Pattaya46]

6 minutes ago, atyclb said:

and some have invested in multiple condos and can live virtually rent free but zero consideration for this highly relevant fact towards obtaining a visa.

Not really true. From what I have read on this forum, such persons could use their thai taxes receipt as proof of income to get their extension. 

[marcusarelus]

2 hours ago, dontoearth said:

   

 And I do wonder how long the consulate in Chicago will issue retirement visas under the old rules of using US Bank accounts.  Does anyone know?

 

What old rules?  The rules are the same.  No change in the amounts only the time seasoning and that would note effect visa issue in the USA. 

[SteveK]

From the point of view of the Thai authorities, the only thing you bring to Thailand is your money. I don't think that that will change any time soon.

 

It therefore stands to reason that if you can't prove that you actually have any money by meeting their requirements, then they want you out.

 

Certainly, if I was the ruler of a small country, I would want a much bigger deposit than 4-800k baht to let all and and sundry in from around the globe! Especially Nigeria.

[marcusarelus]

1 hour ago, Andrew Dwyer said:

For applications for O-A the money can be in any bank, I.e. your home country.

Note: that applies for the UK , not sure about other countries.

Same with USA

[FritsSikkink]

17 minutes ago, atyclb said:

 

is it me having a bizarre perception but it seems someone married and thus supporting a family would be the party required to show the higher amount 800k rather than 400k as a non married person is not obliged to support a family.

Maybe the family could support him when needed.

[HuskerDo]

10 minutes ago, bkkcanuck8 said:

I made the same observation when retirees were cheering the crackdown on educational visas -- then tourist visas - I said sooner or later they would come around to retirees -- to which the general response was no - they would never because they are the golden boys and Thailand's economy would crater if they did etc. etc. etc.   For those that were abusing the system, who really did not qualify, to those that used agents who allowed you to qualify by shifting money around (but never letting it out of their control so technically it could not even be considered a loan) -- or by having embassies give you a letter for income that you did not really have... All I can say is ... I hear knocking at the door now and the screams of anguish at "how dare they" is sort of a little funny to read.  It does not mean I would not feel sorry for some on a one-to-one basis... but it is really no big surprise.   I guess everyone that is not leaving should maybe keep a look out for great deals on Craig's List ????

Pretty well said. Those that slid by as the Consulate/Embassy would take your word that you had the appropriate income to stay in the country only need to point the finger at themselves for basically cheating. I do feel bad for those folks who truly are good people that may be supporting a family in Thailand. Those that have been good "citizens" while in Thailand and never caused any issues are the ones that I wish could be exempt from the new requirements. 

[HuskerDo]

4 minutes ago, marcusarelus said:

Same with USA

HUH? Please explain.

[SteveK]

1 minute ago, HuskerDo said:

Pretty well said. Those that slid by as the Consulate/Embassy would take your word that you had the appropriate income to stay in the country only need to point the finger at themselves for basically cheating. I do feel bad for those folks who truly are good people that may be supporting a family in Thailand. Those that have been good "citizens" while in Thailand and never caused any issues are the ones that I wish could be exempt from the new requirements. 

But surely those good citizens could rustle up a meagre 400k? What is the problem? In London 400k would get you a 2 bed flat with bills for about 6 months!

[stanleycoin]

oops