Monetary visa requirements

[ivorsmile]

Can Thai immigration officials, or anyone, explain that if you deposit 800,000  baht in a Thai bank account in your own name, then you do not have to have to prove that you have any other means of income? So if this is correct, then what do they think you would live on between renewals? Just curious. ????

[glegolo]

Yes this is exactly the question we ALL have been asking so far, and we ALL are awaiting the answer in due course from the Immigration, just hold on and wait..

 

glegolo

Edited February 7, 2019 by glegolo

[Mavideol]

you are a little too late on the issue, the same question has been asked over and over for the past week or so!  Do you have an answer? we couldn't find a plausible one

[tingtongtourist]

Chances is, he who can afford a lazy 800k will probably have much more where it came from.

 

So many making out they are terribly hard done by because they can only scratch up 800k and not one baht more

 

actually make you wonder how many have been rorting the system all along and really havent got a pot to plรร in

 

[Sheryl]

The thinking behind this is unknown.

Per the directive you don't have to show what you are living on, but that doesn't mean that some IOs won't ask.

If I can ever get assurance from my IO that fixed deposit accounts can be used for the 800k, I plan to put 800k into one and just leave it year round. But at renewal time I will bring my savings account passbook along as well just in case they ask. Bettter safe than sorry. (If I can't get that assurrance I'll have to put the 800k in my savings account together with my spending money so non-issue, the bank book or statement will tell the whole story.)

There is a lot that just remains to be seen in the actual implementation of all this by different IOs.

I may eventually switch to income method or combo method but not until the various "kinks" have been ironed out especially re documentation of source of the funds (and the combo method requirements clarified). Thr 800k method, while onerous, is at least clear-cut.

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

[Jingthing]

The thinking behind this is unknown.

Per the directive you don't have to show what you are living on, but that doesn't mean that some IOs won't ask.

If I can ever get assurance from my IO that fixed deposit accounts can be used for the 800k, I plan to put 800k into one and just leave it year round. But at renewal time I will bring my savings account passbook along as well just in case they ask. Bettter safe than sorry. (If I can't get that assurrance I'll have to put the 800k in my savings account together with my spending money so non-issue, the bank book or statement will tell the whole story.)

There is a lot that just remains to be seen in the actual implementation of all this by different IOs.

I may eventually switch to income method or combo method but not until the various "kinks" have been ironed out especially re documentation of source of the funds (and the combo method requirements clarified). Thr 800k method, while onerous, is at least clear-cut.

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

Very close to my thinking on the combo method without embassy letter. It's way too early to consider it reliable. I think by 2021 it will be. Of course we will hear reports of Guinea pigs before then and we can learn from them.

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

[elviajero]

1 hour ago, ivorsmile said:

Can Thai immigration officials, or anyone, explain that if you deposit 800,000  baht in a Thai bank account in your own name, then you do not have to have to prove that you have any other means of income? So if this is correct, then what do they think you would live on between renewals? Just curious. ????

In the past, if you don’t touch the 800K during the year before renewal, they have been know to ask for proof of your other income.

 

One way or another you need 800 plus your living expenses. 

[Jingthing]

4 hours ago, elviajero said:

In the past, if you don’t touch the 800K during the year before renewal, they have been know to ask for proof of your other income.

 

One way or another you need 800 plus your living expenses. 

Rarely, yes, they have. 

Obviously if you keep the 800K static you have other income or savings somewhere else. People that spend down from it annually (now much more difficult) often use part of the 800K for their living expenses every year with only the need for a three month seasoning buffer. Now with the new onerous rule change supposedly intended to smash corruption but definitely won't, the buffer is forced to be significantly higher, five months over 800K and seven months over 400K. For people that have been compliant and avoided the corruption food chain, it just feels like irrational punishment of the wrong people, justified to solve a problem (corruption) that is does not solve. Again, there is no rational way to sugar coat these new rules. Also, as I think we all agree our benefit to Thailand is spending money, these new rules serve as a very sharp edged incentive to spend more conservatively. You would think the authorities would want us to be more free spending! Don't you dare go under 400K because then you become illegal!

 

Prospective expats, please strongly consider not voluntarily being subject to this kind of thing. There are other places. Subject to the kinds of rules I've mentioned above, you will not feel free.

Edited February 7, 2019 by Jingthing

[gentlemanjackdarby]

Likely the Thais are just getting around to doing it like other countries do, but Thailand is (for now) easier.

 

For example, Malaysia requires a fixed deposit that can't be touched for the duration of one's visa of MYR 150,000 (about USD 37,000) AND a monthly income, of which 75% must be from a lifetime pension, of MYR 10,000 (about USD 2,500);

 

In the PI, one 'flavor' of their retirement visa requires a fixed deposit of USD 20,000 AND a monthly pension of USD 1,000.

 

Indonesia requires a monthly income of USD 1,500, proof of medical, life, and personal accident insurance, minimum monthly expenditure for an apartment, hiring of a maid, etc.

 

For now, Thailand is easier.

 

At least in Thailand if one is choosing the fixed deposit method and the IO asks about monthly living expenses, one can probably BS their way through it since, for now, their is no WRITTEN requirement that both are required.

[Jingthing]

1 hour ago, gentlemanjackdarby said:

Likely the Thais are just getting around to doing it like other countries do, but Thailand is (for now) easier.

 

For example, Malaysia requires a fixed deposit that can't be touched for the duration of one's visa of MYR 150,000 (about USD 37,000) AND a monthly income, of which 75% must be from a lifetime pension, of MYR 10,000 (about USD 2,500);

 

In the PI, one 'flavor' of their retirement visa requires a fixed deposit of USD 20,000 AND a monthly pension of USD 1,000.

 

Indonesia requires a monthly income of USD 1,500, proof of medical, life, and personal accident insurance, minimum monthly expenditure for an apartment, hiring of a maid, etc.

 

For now, Thailand is easier.

 

At least in Thailand if one is choosing the fixed deposit method and the IO asks about monthly living expenses, one can probably BS their way through it since, for now, their is no WRITTEN requirement that both are required.

Malaysia has had a higher financial level for a long time. 

You distort the Philippines program. They have numerous choices. Generally the ones that require an initial deposit allow the deposit to be free for certain kinds of spending.

Other Asean nations have "easy" temporary living possibilities without a formal retirement visa program.

I think the mistake people are making is looking so PROVINCIALLY.

If you really want to understand how even the current Thai system is not so great and the evolved one is becoming truly horrible, you need to look at the programs in the part of the world that has the most retirement visa programs.

I have and I can tell you this --

Most have much lower financial requirements than Thailand, before and after

Generally there is no annual application, typically it's one time and you're in for life (with exceptions but again generally annual applications NO!

Importing claimed income? Generally NOT.

Extra financial benefits? Some actually have those without buying a so called Elite card.

Obviously if you need to live in Thailand and you're not interested in any other nation, then you'll put up with anything, as long as you can, until the day comes when the next onerous rule change is too much for you, and maybe that happens when you're 80 or 90.

Is living in Thailand (on such a short tenuous leash) really worth it?

Obviously a personal decision, but mark my words, a noticeable exodus is coming soon. 

Cheers!

[gentlemanjackdarby]

1 hour ago, Jingthing said:

Malaysia has had a higher financial level for a long time. 

You distort the Philippines program. They have numerous choices. Generally the ones that require an initial deposit allow the deposit to be free for certain kinds of spending.

Other Asean nations have "easy" temporary living possibilities without a formal retirement visa program.

I think the mistake people are making is looking so PROVINCIALLY.

If you really want to understand how even the current Thai system is not so great and the evolved one is becoming truly horrible, you need to look at the programs in the part of the world that has the most retirement visa programs.

I have and I can tell you this --

Most have much lower financial requirements than Thailand, before and after

Generally there is no annual application, typically it's one time and you're in for life (with exceptions but again generally annual applications NO!

Importing claimed income? Generally NOT.

Extra financial benefits? Some actually have those without buying a so called Elite card.

Obviously if you need to live in Thailand and you're not interested in any other nation, then you'll put up with anything, as long as you can, until the day comes when the next onerous rule change is too much for you, and maybe that happens when you're 80 or 90.

Is living in Thailand (on such a short tenuous leash) really worth it?

Obviously a personal decision, but mark my words, a noticeable exodus is coming soon. 

Cheers!

I agree with most of your points but:

 

I don't think I distorted the Philippines programs; I chose one program that I thought most resembled Thailand's program from a financial perspective.

 

I didn't see much point in mentioning the SRRV Courtesy since most folks won't meet the requirement of being an allied country military veteran, diplomat, etc,

 

I also didn't mention the SRRV Human Touch (Medical) because most folks would likely not even try to lie their way into that one and those foolish enough to try would likely be weeded out.

 

I'll admit, I was a bit sloppy and maybe I should have distinguished between and given more detail for the SRRV Classic and the Smile but, hey, I didn't want to bore everyone with too much detail.

 

While I certainly agree that other ASEAN nations currently have easy temporary living arrangements, it's my opinion that likely won't last long, especially if there's a mass-exodus from Thailand, or it gets out of control.

 

No doubt, other countries in the region pay attention to, rightly or wrongly, to the less flattering aspects of expat behavior in Thailand and will likely be quick on the trigger to make sure it doesn't happen in their country.

 

As I see, there's no doubt that some countries in Latin and South America have much less expensive and less burdensome retirement visa schemes, but at the end of the day, that part of the world is very different from SE Asia and just may not 'do it' for some people.