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

[Jingthing]

2 minutes ago, HuskerDo said:

HUH? Please explain.

He means that when you apply for an O-A visa in the USA you can qualify financially by showing the funds in a U.S. financial institution rather than a Thai bank. The latter would be required for applying for retirement extensions done in Thailand. 

[HuskerDo]

2 minutes ago, pr9spk said:

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!

Maybe, maybe not. It's not you or I that should judge them. 

[SteveK]

Just now, HuskerDo said:

Maybe, maybe not. It's not you or I that should judge them. 

Let the Thai authorities do that, and quite rightly so!

[HuskerDo]

1 minute ago, Jingthing said:

He means that when you apply for an O-A visa in the USA you can qualify financially by showing the funds in a U.S. financial institution rather than a Thai bank. The latter would be required for applying for retirement extensions done in Thailand. 

Understand now. Thanks Jing.

[atyclb]

10 minutes ago, FritsSikkink said:

28 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.

 

 

possible but likely the exception

[HuskerDo]

Just now, pr9spk said:

Let the Thai authorities do that, and quite rightly so!

Yes, I just hope it works out for those that have families. 

[HuskerDo]

35 minutes ago, ginjag said:

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 ??

That's a silly comment. You can move back to the UK and take your animals with you any time you want. 

[Hoppyone]

22 hours ago, Sheryl said:

I suspect there will be a significant decrease in retirement extensions, though. Those who qualify will go for extension based on marriage instead. Those who spend a few months each year back in their home countries will go for O-A visas or METVs instead.  Makes total sense in both cases. 

 

Since nothing has been done about agents & corruption, the least affected people will be those with insufficient income. 

 

For the remainder, this is an annoyance and also shakes confidence about the future a bit (i. e. what other major changes will be unexpectedly sprung in the future, with no grandfathering of people already here?).  It will go onto the "con" side of the ledger of pros and cons  of living here but I doubt it will by itself be a reason for many to leave. It could be the last straw for those already considering it, though. And likely will deter future arrivals.

Only problem being a regular visitor on a METV visas you’ll be classified as a none genuine tourist and after too many visits you will see you sent home before you get past immigration.

[HuskerDo]

55 minutes ago, stanleycoin said:

not sure if it will work, now days.

 

Please don't bring your racist views here. Thank you!

[Sonhia]

What next?

 

Half Thai, half farang children, must also have visas?

[Andrew Dwyer]

Well it seems that those affected have to make a decision !
My options.

1) > 800/400k in my savings account.
2) 800k in a fixed deposit account.
3) Transfer 65k every month.
4) Combo of above.
5) Back home for an O-A.
6) Risk an agent.
7) Leave for greener pastures.

For me, I’ll stick with 1) for a while before committing, but would probably go with 2) or 5) eventually.
While 3) and 4) are possible I feel could easily go wrong.
6), to be avoided I feel.
7) Not yet , still living the dream [emoji51]

I suggest others reconsider their position here and adapt, or adjust, accordingly. These new rules aren’t going away.

[ravip]

These % should be taken with a pinch of salt.

Because there is a huge difference between the keyboard warriors and reality.

 

[JAG]

1 hour ago, robblok said:

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.

Well even! ????

 

Sorry Rob, I couldn't resist that - as an English teacher. I absolutely agree with what you say. 

[Jingthing]

6 minutes ago, Andrew Dwyer said:

Well it seems that those affected have to make a decision !
My options.

1) > 800/400k in my savings account.
2) 800k in a fixed deposit account.
3) Transfer 65k every month.
4) Combo of above.
5) Back home for an O-A.
6) Risk an agent.
7) Leave for greener pastures.

For me, I’ll stick with 1) for a while before committing, but would probably go with 2) or 5) eventually.
While 3) and 4) are possible I feel could easily go wrong.
6), to be avoided I feel.
7) Not yet , still living the dream

I suggest others reconsider their position here and adapt, or adjust, accordingly. These new rules aren’t going away.

There is no strong evidence YET that combo applications without embassy letters especially without 12 full months of transfers to show will be accepted at all. I advise people to not rely on those for the time being unless and until we get strong clarification. Which might take many many months as most people got embassy letters last year so immigration is not under pressure on this, so it's easier for them to not even think about and say -- NO. 

[roiethome]

I am sure a large proportion who voted to leave Thailand had a 'knee-jerk' reaction to the changes and like to be drama queens.

The amounts of 800K and 400K and quite low compared to some other countries in the world, and if you really cannot manage that amount, how do you manage to live in Thailand?

There has been too many exploiting the loopholes and why should they get away with it when other comply strictly with the regulations.

About time to regulations were enforced to ensure 100% compliance.

[robblok]

1 minute ago, JAG said:

Well even! ????

 

Sorry Rob, I couldn't resist that - as an English teacher. I absolutely agree with what you say. 

???? Maybe I should proofread my English before posting here. I am just too lazy to check it too much. I know you were right.

 

Anyway too many hoops for teachers to jump trough and they make it too hard. I am not saying that every English speaking expat makes a good teacher. Teaching is something you have to learn like all other skills and some have the skill and others don't. 

 

Anyway, i just don't see western foreigners stealing many Thai jobs. They make it real hard for westerners to work legally here especially if self employed.  It would be nice if that was easier but i doubt it will happen.

[RocketDog]

58 minutes ago, Nowisee said:

 

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".

Logically of course I must agree with you. However, this does not invalidate my statement. It just shows that the Thai gov is giving tourists a break,and for good reason. 

Clearly there are many more tourists coming here every year than expats filing extensions and paying ฿1900 for the privilege, and it is inarguably a privilege. Likewise they typically spend much more in their 2 weeks here than the average expat does in any given two week period. So maybe the authorities are simply more business savvy than you give them credit for. 

 

Finally, simple statistics dictate that the longer one stays in a dangerous situation the more likely something bad will happen to them. I certainly think that navigating the roads here is a dangerous situation, don't you?

 

Many TVF members would be quick to say that when an accident occurs the farang is always to blame and must pay, regardless of the facts. So at worst, once again, the system is acting in its own self interest, a trait common to any organism striving to survive. I am forced to soberly admit that the Thai government is more interested in the well being of its citizens than it is in ours.

 

So be it. You pay to play. 

 

As always, we each have the option to vacate. 

[CMNightRider]

13 hours ago, Jingthing said:

Kev in Thailand projects a "mass exodus" of retired expats, especially exchange rate pained Brits.

 

 

 

13 hours ago, Jingthing said:

Kev in Thailand projects a "mass exodus" of retired expats, especially exchange rate pained Brits.

 

 

It's really hard to understand this guy due to his heavy accent but good on him for taking the time to make this video.  I do agree with him about thousands of expats moving thanks to immigrations latest hurdle.  Evidently, immigration wants to purge Thailand of westerners or they wouldn't keep moving the goal post.

 

The recent poll taken by Thai Visa and Face Book recently about expats leaving Thailand over this recent brain storm initiated by immigration showed only about 8% of the Thai Visa posters moving and a much larger 50% of Face Book users leaving Thailand.  I believe this discrepancy can be attributed to a lower cognitive ability of posters on this site or maybe there are just more Thai Visa posters who have married Thais and own homes here making the move more difficult.

 

Good on the expats who decide to stay.  Once immigration waves goodbye to the people who fall short of their financial requirement, the bed ridden with various illnesses and the ones with dementia are gone, immigration will have more time to focus on the ones who stayed to see what it takes to get them to move.  No worries though, they will think of something for sure.  ????

[HuskerDo]

9 minutes ago, roiethome said:

I am sure a large proportion who voted to leave Thailand had a 'knee-jerk' reaction to the changes and like to be drama queens.

The amounts of 800K and 400K and quite low compared to some other countries in the world, and if you really cannot manage that amount, how do you manage to live in Thailand?

There has been too many exploiting the loopholes and why should they get away with it when other comply strictly with the regulations.

About time to regulations were enforced to ensure 100% compliance.

"I am sure a large proportion who voted to leave Thailand had a 'knee-jerk' reaction to the changes".....

 

Let's wait and see how many actually leave before believing they will.

[Jingthing]

4 minutes ago, CMNightRider said:

...

 

Good on the expats who decide to stay.  Once immigration waves goodbye to the people who fall short of their financial requirement, the bed ridden with various illnesses and the ones with dementia are gone, immigration will have more time to focus on the ones who stayed to see what it takes to get them to move.  No worries though, they will think of something for sure.  ????

Brilliant! Ethnic cleansing innit?

[HuskerDo]

2 minutes ago, CMNightRider said:

 

It's really hard to understand this guy due to his heavy accent but good on him for taking the time to make this video.  I do agree with him about thousands of expats moving thanks to immigrations latest hurdle.  Evidently, immigration wants to purge Thailand of westerners or they wouldn't keep moving the goal post.

 

The recent poll taken by Thai Visa and Face Book recently about expats leaving Thailand over this recent brain storm initiated by immigration showed only about 8% of the Thai Visa posters moving and a much larger 50% of Face Book users leaving Thailand.  I believe this discrepancy can be attributed to a lower cognitive ability of posters on this site or maybe there are just more Thai Visa posters who have married Thais and own homes here making the move more difficult.

 

Good on the expats who decide to stay.  Once immigration waves goodbye to the people who fall short of their financial requirement, the bed ridden with various illnesses and the ones with dementia are gone, immigration will have more time to focus on the ones who stayed to see what it takes to get them to move.  No worries though, they will think of something for sure.  ????

"Once immigration waves goodbye to the people who fall short of their financial requirement, the bed ridden with various illnesses and the ones with dementia are gone".....

 

WOW! You just said a LOT about yourself.

[Jingthing]

 

1 minute ago, HuskerDo said:

"I am sure a large proportion who voted to leave Thailand had a 'knee-jerk' reaction to the changes".....

 

Let's wait and see how many actually leave before believing they will.

You won't ever know the percentage. It will all be anecdotal. Some people will know lots of people moving and think it's massive and others won't. Such polls online can't be scientific.

[Jingthing]

1 minute ago, HuskerDo said:

"Once immigration waves goodbye to the people who fall short of their financial requirement, the bed ridden with various illnesses and the ones with dementia are gone".....

 

WOW! You just said a LOT about yourself.

He didn't really. 

[HuskerDo]

22 minutes ago, Sonhia said:

What next?

 

Half Thai, half farang children, must also have visas?

No, just parents that love them. 

[CMNightRider]

3 minutes ago, Jingthing said:

Brilliant! Ethnic cleansing innit?

It certainly appears to be a possible motive for immigration to keep moving the goal post. ????

[Jingthing]

Just now, CMNightRider said:

It certainly appears to be a possible motive for immigration to keep moving the goal post. ????

It's not paranoia if they're really out to get you.

[ravip]

8 minutes ago, roiethome said:

I am sure a large proportion who voted to leave Thailand had a 'knee-jerk' reaction to the changes and like to be drama queens.

The amounts of 800K and 400K and quite low compared to some other countries in the world, and if you really cannot manage that amount, how do you manage to live in Thailand?

There has been too many exploiting the loopholes and why should they get away with it when other comply strictly with the regulations.

About time to regulations were enforced to ensure 100% compliance.

Absolutely true!

Many foreigners are calling the Thais ignorant, fearful, xenophobic, non-visionary and misguided, racist etc etc... while they themselves are very ignorant of their own racist minds.

In reality, why should Thailand welcome all foreigners with open hands? Especially, people who are disgusted, critical and has nothing good to say about the country or its people?

 

 

And the most important fact is, foreigners who find it almost impossible to find THB 800k, how will they help the Thai economy - at least can they help themselves in a foreign country?

 

This fact is avoided like the plague, here at TVF (for obvious reasons, I guess)! Racism exists here in the forum more, than one find out in the streets in Thailand.

 

[balo]

Another hopeless thread , 39 pages within 24 hours. 

 

Just pay 15k to the agent and move on with your life. Go with the flow. 

 

 

[marcusarelus]

57 minutes ago, HuskerDo said:

HUH? Please explain.

Initial application money in USA bank

[stanleycoin]

43 minutes ago, HuskerDo said:

Please don't bring your racist views here. Thank you!

ha ha , get over yourself.

 

If you don't like it report it to the mods. yawn.