New Rules for Retirees - Effects so Far?

[Rc2702]

Couple of observations since the new rules came into play and just wondering if anyone else is seeing a bit of an exodus or signs of one?

 

Drive past a bar each evening and for forever have always seen 4-5 farang 50+ lads having a beer together. 

 

This last month I spot the same guy sitting there on his own 2-3 times a week.

 

The sell your stuff website bahtsold. Seeing a 20% increase in adverts locally when select all categories and location.

 

Properties in North East being put up for sale at what appear to be good prices to sell fast.

 

This website also appears to be taking a hit.

Edited March 20, 2019 by Rc2702

[madmen]

"exodus or signs of one?"

 

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[quandow]

All the folks I know are still around. I "kind of" understand Thailand wanting to get rid of the riff raff. I used the monthly income process (honestly) over ten years and often wondered how that could be valid given I could lie through my teeth at the embassy. Now I've had to scramble and will hopefully be able to satisfy the ฿800,000 method, depending on how long a particular annuity will get me the check soon enough for me to transfer to one bank, then to another, then Transferwise to Bangkok bank. Like I said, scrambling. I am sure many folks were being disingenuous about having the required monthly income. It IS brutal how Thailand is applying these rules, and of course I looked into Vietnam, Cambodia, P.I., etc. I just have too many friends and am too comfortable with my life to start over. The only real effect I've seen is the visa "agents" jacking up their prices, but just a little.

Edited March 20, 2019 by quandow
gramar [sic]

[balo]

Too early to tell, yes a few will leave, and the low season in towns like Pattaya could be worse than ever.

 

[whiteman]

THE SKY IS FALLING but I will be all right Jack ( Joking)   Wish you all the best of luck some will need it

[Thailand]

General confusion from expats and immigration alike, and this is just the beginning. There will be hundreds who are not aware of the rule changes and how they are being applied.

Know of 2 who have left who did the "honest I have the money" affidavits.

Personally selling up and renting, no plans to leave yet but want to be able to do so if necessary.

[Pattaya46]

There is always a "seasonal exodus of farangs" when comes April. It's the hotter period of the year, and the crazy Songkran in places like Pattaya. So many farangs chose this period for their yearly trip to their home country (when they still have family to see).

[Number 6]

9 minutes ago, Pattaya46 said:

There is always a "seasonal exodus of farangs" when comes April. It's the hotter period of the year, and the crazy Songkran in places like Pattaya. So many farangs chose this period for their yearly trip to their home country (when they still have family to see).

Exactly. Anyone that's in their right mind gets out of Thailand in April. Many go home for a few months. Before i was married I'd leave April-June to avoid the heat.

 

How many barstools open in Pattaya no way of measuring expats on O extension departures. I'm sure while many think about it, the pause makes them sell off illiquid assets and junk.

[Kwasaki]

6 hours ago, quandow said:

I've seen is the visa "agents" jacking up their prices,

How an agent help when you have to show 400,000 baht in the bank all year.?? 

[lipflipper]

My agent has told me to just sit tight and see what is yet to come here in Chiang Mai. My visa is up for renewal in mid August and there is still ongoing confusion at Immigration. I suppose panic would set in for those who did not keep up with the changes and are now caught between a rock and a hard place. I will take my two month holiday back in San Francisco next week and when I return I will go see my agent to get my TM-30 taken care of and have a sit down with him at that time about what is now required. I am keeping all options open save one, there is no way in hell I am putting 800,000 baht into Any Thai banks and not have access to those funds.

Sent from my CMR-AL19 using Thailand Forum - Thaivisa mobile app

[dotpoom]

10 hours ago, Rc2702 said:

The sell your stuff website bahtsold. Seeing a 20% increase in adverts locally when select all categories and location.

I use that site a lot...can't sell anything on it now.

[Leaver]

11 hours ago, quandow said:

All the folks I know are still around. I "kind of" understand Thailand wanting to get rid of the riff raff. I used the monthly income process (honestly) over ten years and often wondered how that could be valid given I could lie through my teeth at the embassy. Now I've had to scramble and will hopefully be able to satisfy the ฿800,000 method, depending on how long a particular annuity will get me the check soon enough for me to transfer to one bank, then to another, then Transferwise to Bangkok bank. Like I said, scrambling. I am sure many folks were being disingenuous about having the required monthly income. It IS brutal how Thailand is applying these rules, and of course I looked into Vietnam, Cambodia, P.I., etc. I just have too many friends and am too comfortable with my life to start over. The only real effect I've seen is the visa "agents" jacking up their prices, but just a little.

You make an interesting point in so far as you mention you scrambled to get the 800k on it's way, so you could remain here.

 

I do not wish to ask of your personal finances, but at what figure would you say enough is enough and look at leaving.  i ask this to other readers as well. 

 

My question isn't about what can you afford.  My question is about what amount of money would you not be prepared to pay to remain here?  Eg. 1million, 1.5 million.  

 

 

[Jim7777]

6 hours ago, Number 6 said:

Exactly. Anyone that's in their right mind gets out of Thailand in April. Many go home for a few months. Before i was married I'd leave April-June to avoid the heat.

 

How many barstools open in Pattaya no way of measuring expats on O extension departures. I'm sure while many think about it, the pause makes them sell off illiquid assets and junk.

Are you kidding?  April is the most fun month to be here I’m looking forward to Songkran in a few weeks.  In fact I’m gonna go all out this year and get everything prepared next payday.  

[Jim7777]

Awesome I think I just might buy a house here after all.  Sounds like it might be a buyers market if that’s the case ????????????.  

Edited March 21, 2019 by Jim7777

[baansgr]

I think the real exodus was about 4 years ago.....now is the last of the mainstayers clinging on for dear life...no new blood appearing anymore. Combination of XE, visa rules, the opening of places once seen as backward/third world and the general atmosphere of being unwelcome in Thailand has all taken its toll

[baansgr]

2 hours ago, dotpoom said:

I use that site a lot...can't sell anything on it now.

Hence confirming the point as it was predominatly expats buying off there. In effect, no ones got any money, or there are far fewer expats

[mfd101]

14 minutes ago, Jim7777 said:

Awesome I think I just might buy a house here after all.  Sounds like it might be a buyers market if that’s the case ????????????.  

Buyers' market in Oz too! House prices everywhere down 10-20% over 18 months & still heading south ... Chinese pulling out of the market & Aussies being cautious.

 

Looks like Oz heading into generalized-deflation territory (low interest rates, wages stable) which - as the Japs have shown for the last 25 years - is VERY hard to get out of. Why buy now when the price will be lower later? ... Same could apply here.

[malibukid]

12 hours ago, quandow said:

All the folks I know are still around. I "kind of" understand Thailand wanting to get rid of the riff raff. I used the monthly income process (honestly) over ten years and often wondered how that could be valid given I could lie through my teeth at the embassy. Now I've had to scramble and will hopefully be able to satisfy the ฿800,000 method, depending on how long a particular annuity will get me the check soon enough for me to transfer to one bank, then to another, then Transferwise to Bangkok bank. Like I said, scrambling. I am sure many folks were being disingenuous about having the required monthly income. It IS brutal how Thailand is applying these rules, and of course I looked into Vietnam, Cambodia, P.I., etc. I just have too many friends and am too comfortable with my life to start over. The only real effect I've seen is the visa "agents" jacking up their prices, but just a little.

 your riff raff if you can't or do not wish to deposit 800K into a third world bank with a uncertain future and unstable currency?  also no one is on the same page at Immigration and the rules remain protean. good luck.  $$$ for me.

[marcusarelus]

The rules don't effect me as I took my money out of American banks and moved it to Asia 20 years ago on the advice of my economic advisor. 

 

On the other hand I find myself getting depressed reading the opinions of so many angry people online.  I'm limiting my reading time to more technical issues as it makes me more cheerful. 

[mfd101]

4 minutes ago, malibukid said:

a third world bank with a uncertain future and unstable currency?

You mean any bank in The West?

[jimn]

29 minutes ago, Jim7777 said:

Are you kidding?  April is the most fun month to be here I’m looking forward to Songkran in a few weeks.  In fact I’m gonna go all out this year and get everything prepared next payday.  

I think its you thats kidding. Everyone I know to a man hates Songkran and leave if they can for the Philippines or Cambodia. It can be a laugh for 1 day but in Pattaya its from 10th until 19th a nightmare.

[scubascuba3]

How an agent help when you have to show 400,000 baht in the bank all year.?? 

No need to if you use an agent.

 

No reason for people to leave as agents are alive and well, business as usual

 

[Leaver]

7 minutes ago, marcusarelus said:

The rules don't effect me as I took my money out of American banks and moved it to Asia 20 years ago on the advice of my economic advisor. 

 

On the other hand I find myself getting depressed reading the opinions of so many angry people online.  I'm limiting my reading time to more technical issues as it makes me more cheerful. 

Perhaps you could ask your economic advisor what they think about investing 800k baht at 1.5% interest.  ???? 

[malibukid]

3 minutes ago, Leaver said:

Perhaps you could ask your economic advisor what they think about investing 800k baht at 1.5% interest.  ???? 

and no airline miles????

Edited March 21, 2019 by malibukid

[NCC1701A]

here is a breaking news photo of the Expat exodus just West of Chiang Mai.
 

Edited March 21, 2019 by NCC1701A

[CGW]

4 minutes ago, NCC1701A said:

here is a breaking news photo of the Expat exodus just West of Chiang Mai.

Going to vote? hope they are taking precautions against heat stroke ???? 

[natway09]

Lipflipper,,,, why ? The big 5 Thai banks in Thailand are a lot safer than most banks in the US

[Tropposurfer]

I wonder what might happen to all this immigration to-and-froing stuff if ... (yeah, yeah I know pigs will fly!!!) ... the junta is outed in elections and doesn't get up to dirty tricks to keep power and some saner and diplomatically savee folks take power (are there any about in thai politics lol?) 

[Tropposurfer]

I made a raft out of rubber raincoats and glue and a paddle from a fence paling ... I plan to escape the LOS immigration persecution to utopia .. does anyone know which direction utopia is ? ... I plan to make my escape in the dead of night lol lol.

[marcusarelus]

54 minutes ago, Leaver said:

Perhaps you could ask your economic advisor what they think about investing 800k baht at 1.5% interest.  ???? 

Actually I think it's 1.9% and given the future exchange rate of the US dollar or pound or Aussie dollar it's a go.