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

[chainarong]

Its not so much the ones that are in Thai now but for future farangs, Cambodia might be a better option to get a start, if they need to get away from the micro-management of their home country.

[crazykopite]

1 hour ago, worgeordie said:

Where are they going to go to,back home ,Cambodia,or Philippines,

save up a bit more money and the could be back.

regards Worgeordie

Cape Verde good weather and okay cost of living with next to no corruption 

[tlandtday]

1 hour ago, shady86 said:

Better leave. Thailand needs quality expats, not quantity.

Yeah I see them arriving in the buses and dining at the 711s.  Inundated with big spenders at present. 

Edited February 4, 2019 by tlandtday

[kingstonkid]

I really do not see the panic.  maybe it is because I have the funds.  The reason for this is obvious to me and has nothing to do with the being anal.  it is simply their way of making it harder for the non-legit people to beat the system.  I find it hard to believe that when we do our 90-day report we are going to have to show a bank statement.  The work to ddo that will be crazy.  

 

The people that re leaving are the ones that can not and do not have themeans to support themselves legally.

 

To them I say bye bye

 

[Bill Miller]

For my two baht worth, I think there are a lot of tempests in a teapot blowing about.
I agree with Sheryl; have your grump, then get on with life.????
No doubt there is some pain-in-the-arsery connected with the new regs, but really, once you have adapted, are things really that much more difficult? At least for those of us who really do have the required income.
800,000 is a bit of a stretch for me to plonk down all at once, so I do the "income method".
As has already been established there will be leniency shown for the twelve months deposit evidence because the rules were not firmed up in time to begin that before implementation.
Pain in the neck is that a greater part of my income is paid out quarterly, so I have to let two thirds of it sit in my US Credit Union and remember to transfer the required amount to my Bangkok Bank account, which shows it as an international transfer.
A bit more wieldly than a once a year amble to the embassy for an essentially meaningless (this is why they discontinued them) letter, but overall doable.
Once "she who must be obeyed" says "I do" at the amphoe office I will arrange direct deposit of my Social Security, which nicely covers the married income requirement.
Just a couple of thoughts for those who might be able to use them.????

[crazykopite]

4 minutes ago, cyrus9 said:

The reason for this decision is to stop fraud. There are some Indian sharks in Thailand who lend 800,000 Baht to some foreigners for a week with a high interest, just for those foreigners to get 1 year retirement visa. I hear there have been many cases like that.

12years ago. You could do this as you only had to deposit your money in on the morning of application but these days I would have thought this impossible as the 800,000 has to be in for 3 months so where do you get 1 week from . Anyway I don’t believe your theory it is more than likely they the Government want as much money in the bank as they can and this is a way of doing it even Thais like to keep a lot of money hidden in a hole in the floor or under the mattress.

[jabis]

2 minutes ago, kingstonkid said:

I really do not see the panic.  maybe it is because I have the funds.  The reason for this is obvious to me and has nothing to do with the being anal.  it is simply their way of making it harder for the non-legit people to beat the system.  I find it hard to believe that when we do our 90-day report we are going to have to show a bank statement.  The work to ddo that will be crazy.  

 

The people that re leaving are the ones that can not and do not have themeans to support themselves legally.

 

To them I say bye bye

 

Yeah, the ones that have built houses around nakhon nowhere for momma's etc? Having 800k liquidity all year around, now can't spend for living expenses but half? Yeah - surely the scum of the earth, right?

[jabis]

Just now, crazykopite said:

12years ago. You could do this as you only had to deposit your money in on the morning of application but these days I would have thought this impossible as the 800,000 has to be in for 3 months so where do you get 1 week from . Anyway I don’t believe your theory it is more than likely they the Government want as much money in the bank as they can and this is a way of doing it even Thais like to keep a lot of money hidden in a hole in the floor or under the mattress.

Next month you'll have to house if for 5 to 6 months - and after that you can spend half of that before starting the seasoning again - good luck ????

[crazykopite]

4 minutes ago, kingstonkid said:

I really do not see the panic.  maybe it is because I have the funds.  The reason for this is obvious to me and has nothing to do with the being anal.  it is simply their way of making it harder for the non-legit people to beat the system.  I find it hard to believe that when we do our 90-day report we are going to have to show a bank statement.  The work to ddo that will be crazy.  

 

The people that re leaving are the ones that can not and do not have themeans to support themselves legally.

 

To them I say bye bye

 

I would imagine every time you do a 90 day report you will have to show your bank statement as well as a confirmation letter from the bank at 200 baht a time ( nice little earner forthe banks )

[crazykopite]

2 minutes ago, jabis said:

Next month you'll have to house if for 5 to 6 months - and after that you can spend half of that before starting the seasoning again - good luck ????

The way I see it it is easier to transfer over the equivalent of 65,000 baht per month  than have all that money stuck in a Thai bank doing nothing that is the way I will do it until I have sold my property and then I will be off to greener pastures.

[Psimbo]

I will be very careful how I phrase this and the Mods may feel it needs editing or removing.

 

It is very interesting that the person at the top of the food chain here is for all intents and purposes an Expat in Europe, whilst here Expats feel they are being discriminated against (they're not really- its just a tightening of regulations to cut down on riff-raff, people who have been abusing the system and corruption).

 

I realise the circumstances are different for that person and their family but its an interesting conundrum

[chrisinth]

2 minutes ago, crazykopite said:

I would imagine every time you do a 90 day report you will have to show your bank statement as well as a confirmation letter from the bank at 200 baht a time ( nice little earner forthe banks )

To those who don't do 90 day reporting on retirement extensions, that would be a bonus...........

 

Don't forget, your 90 day reporting isn't necessarily linked to your extension date; leave the country one or two months after the extension has been verified to break the 3 month intervals, continue an 'out' every 90 days after that and no 90 day reporting.

 

They won't have access to financial details at the exit/entry points.

[donim]

2 hours ago, Samui Bodoh said:

I wish all Facebook users would go...

 

 

 

 

 

So the whole Thai nation.

 

Only a few farangs left to rule the new country

 

????

[wombat]

2 hours ago, NCC1701A said:

yeah, and I'm having sex with two blondes in a Ferrari tonight.

before me i trust. i love sloppy seconds

[DrTuner]

2 hours 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. 

He serves the junta and army despises westeners. Always has, always will. The western values don't fit into their oppressive ideals.

[crazykopite]

55 minutes ago, Pilotman said:

sounds fair enough to me.  Wish the UK did the same.  

You cannot get into the U.K. unless you have a job that pays a minimum of £18,000 per year that is why there are a lot of Brits who have married abroad but their wives cannot get a visa due to the spouse not earning enough 

[ballpoint]

I wish they'd all stop going on about it, and just go.

[jabis]

3 minutes ago, crazykopite said:

You cannot get into the U.K. unless you have a job that pays a minimum of £18,000 per year that is why there are a lot of Brits who have married abroad but their wives cannot get a visa due to the spouse not earning enough 

I'd recall the magic word is "asylum" ???? 

[StefanBBK]

Don't think anybody has any idea what the rules for renewal will be the in August. Will start to look for latest changes in April, and then decide how best to go about it. 

Was quite happy about the monthly transfer option, however this holding 400K for 5 month in an account is a bit silly. How could that be accomplished / controlled? 

Again will wait and see. 

[maccastime]

Total bloody shambles next thing the thais will be saying low season every day now, no people... where they go

[jabis]

1 minute ago, StefanBBK said:

Don't think anybody has any idea what the rules for renewal will be the in August. Will start to look for latest changes in April, and then decide how best to go about it. 

Was quite happy about the monthly transfer option, however this holding 400K for 5 month in an account is a bit silly. How could that be accomplished / controlled? 

Again will wait and see. 

You surely do mean 800k for 5 months and then 400k all year around ????

[crazykopite]

42 minutes ago, Genericnic said:

I am anticipating leaving but not because the new regulations "force" me to leave. I am financially capable of complying with them. I am anticipating leaving because complying with the ever changing regulations is a continuing annoyance that I am tired of dealing with. 

 

I won't repeat them here but if you are interested in why I don't want to comply with the new rules, you can check my post in a different thread.

 

David

I’m with you on this one it’s not so much about the money it’s all the rule changes year in year out what has always frustrated me is why should there be a different rule if you marry a Thai then you only need 400,000 or 40,000 per month . I have a great 13 years but the time has come to move on once I have sold my property .

[bluesea]

I have now sold all my Property and Moving to Cambodia where i can become a Permanent resident.

 

[ReMarKable]

38 minutes ago, cyrus9 said:

The reason for this decision is to stop fraud. There are some Indian sharks in Thailand who lend 800,000 Baht to some foreigners for a week with a high interest, just for those foreigners to get 1 year retirement visa. I hear there have been many cases like that.

how could this work?  The 800 k has to be seasoned for 3 months.

[DrTuner]

3 minutes ago, GarryP said:

Tried it, but not enough room. So I moved up to my stretch Cadillac. 

The other option is to take a dozen Thais instead, they take up about the same room.

[CMNightRider]

1 hour 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. Biggest Joke said he would make things easier and simpler. He is doing just the opposite, and barely even disguising his contempt for foreigners. He is the single biggest threat to the ex-pat community right now. 

 

One can only hope that come election time, all of this nonsense will be over, and both Prayuth and especially the biggest joke, will be sent out to pasture for the rest of their lives. They are not doing anything that benefits their nation, and they are picking on good men, who are bringing a lot to the table. Dumb and dumber. What can one say? 

Your post is one of the more intelligent posts I have read regarding what immigration is doing to discourage foreigners from continuing to live in Thailand.  I have read so many pompous and smug comments from many of the posters on this site, making demeaning comments about expats who have to leave because they are unable to deposit 800,000 baht into a Thai bank.  These people brag about how they can easily make this deposit and many have said they have be doing this for years, lol.

 

There are far more expats that can deposit 800,000 baht in a Thai bank but are intelligent enough to see the folly in doing so.  These people will be leaving each month as their one year extensions come due, along with those who are unable to abide by immigrations latest hurdle.  

 

The leaders of Thai Immigration has made it clear, they do not want western retirees residing in Thailand.  This ridicules financial requirement of depositing money in a Thai bank is to take advantage of those who can't leave for various reasons, and to purge as many of the westerns as they can.

 

I wonder how many expats who have married Thai women and have kids here don't meet this latest hurdle for one year extensions.  These people will be forced to leave their families as their extensions come due. ????

 

 

 

 

[Thailand]

Just seen an email dated today pm from a key Pattaya agent that says the the new requirements apply to new applicants only.

 

Have not seen an official announcement yet.

 

Just saying what I have seen.

Edited February 4, 2019 by Thailand

[GarryP]

2 minutes ago, CMNightRider said:

Your post is one of the more intelligent posts I have read regarding what immigration is doing to discourage foreigners from continuing to live in Thailand.  I have read so many pompous and smug comments from many of the posters on this site, making demeaning comments about expats who have to leave because they are unable to deposit 800,000 baht into a Thai bank.  These people brag about how they can easily make this deposit and many have said they have be doing this for years, lol.

 

There are far more expats that can deposit 800,000 baht in a Thai bank but are intelligent enough to see the folly in doing so.  These people will be leaving each month as their one year extensions come due, along with those who are unable to abide by immigrations latest hurdle.  

 

The leaders of Thai Immigration has made it clear, they do not want western retirees residing in Thailand.  This ridicules financial requirement of depositing money in a Thai bank is to take advantage of those who can't leave for various reasons, and to purge as many of the westerns as they can.

 

I wonder how many expats who have married Thai women and have kids here don't meet this latest hurdle for one year extensions.  These people will be forced to leave their families as their extensions come due. ????

 

 

 

 

Pray tell. What is the folly in depositing Baht 800,000 in a Thai bank account? 

[StefanBBK]

3 minutes ago, jabis said:

You surely do mean 800k for 5 months and then 400k all year around ????

Actually not, meant 400k as I am here on family...  But the rules are in the same limbo as the retirement options. 

Anyway, I would likely be looking at the Thailand Elite option again. 

[Sheryl]

3 minutes ago, Thailand said:

Just seen an email dated today pm from a key Pattaya agent that says the the new requirements apply to new applicants only.

 

Have not seen an official announcement yet.

 

Just saying what I have seen.

 

Impossible to tell from that very badly worded  directive.

 

Though it would be consistent with prior practices in terms of not raising financial requirements for people already on extension. As we have all figured out, the new rules effectively increase the required amount to 1.2 million baht, quite a leap from 800K.