"New" Retirement extension rules

[darrendsd]

Did/Have the new rules that were proposed that needing to still have 400K in the bank for the first 90 days come into effect?  

 

A friend of mine who renewed his 1 year a few weeks ago was not told anything by Immigration that it is needed

[ubonjoe]

Are you writing about an extension based upon marriage or retirement.

The 400k baht number makes me think it is one based upon marriage. There is no rule or pending rule that the 400k baht has stay in the account for 3 months after you apply.

For retirement the 800k baht has to remain in the bank the for 3 months and that went into effect on March 1st. After 3 months 400k baht has to remain in the bank until you top up your account for the next extension.

[darrendsd]

Hi Joe as the topic title advises it's the retirement extension

 

So 800k when you first apply - 800k must be in the bank 90 days later for your next extension and then 400k must remain in the bank for the 9 months after that - is that correct?

[Kerryd]

It seems that the 800k must be in the bank 2 months before you make the application, then it has to stay in the account for 3 more months afterwards. Then you can take up to 400k out but the other 400k has to stay in the account.

So now you basically have 400k permanently locked in, unless you want to risk being denied an Extension when you go to renew it next year.

Funny how this only applies to people doing "Retirement" extensions using the "money in bank" method.

 

I guess Immigration is getting fed up with all the people bragging about how they get around the rules using "agents". 

[Vacuum]

10 minutes ago, Kerryd said:

I guess Immigration is getting fed up with all the people bragging about how they get around the rules using "agents".

I think this is exactly what they want.

[Kerryd]

15 minutes ago, Vacuum said:

I think this is exactly what they want.

If they wanted people to use agents they would be making the rules easier, not harder. Years ago it was too easy for people to use an agent as they only needed to "borrow" the money for an hour (literally) in order to get a passbook update and bank letter. Then the money was returned to the agent along with a hefty fee.

 

Then Immigration changed the rules - to make it harder to use an agent - because the money had to be in the account for 3 months before applying. Very few people (or agents) want to lend that much money for that length of time, especially to someone that obviously would have a problem paying any of it back if they spent it.

 

However, it seems agents have found a way to get around that and still be able to provide passbooks/bank letters and make money relatively risk free.

 

So Immigration has (again) changed the rules to (again) make it harder to use an agent as the full amount now has to be in the bank for 5 full months and the other 400k has to stay in there permanently.

I doubt any agents are going to lend broke expats 400k for 12 months and another 400k for 5 months and even if they did, they'd charge so much that the broke expats that need agents wouldn't be able to afford the borrowing fees.

When Big Jok (or "Joke") took over Immigration one of the first things he said he was going to do was crack down on the Visa agents and these rules changes are a reflection of that.

I'd say it is significantly harder to use an agent to get around the financial requirements now than it was a couple years ago.

 

[Lacessit]

11 minutes ago, Kerryd said:

If they wanted people to use agents they would be making the rules easier, not harder. Years ago it was too easy for people to use an agent as they only needed to "borrow" the money for an hour (literally) in order to get a passbook update and bank letter. Then the money was returned to the agent along with a hefty fee.

 

Then Immigration changed the rules - to make it harder to use an agent - because the money had to be in the account for 3 months before applying. Very few people (or agents) want to lend that much money for that length of time, especially to someone that obviously would have a problem paying any of it back if they spent it.

 

However, it seems agents have found a way to get around that and still be able to provide passbooks/bank letters and make money relatively risk free.

 

So Immigration has (again) changed the rules to (again) make it harder to use an agent as the full amount now has to be in the bank for 5 full months and the other 400k has to stay in there permanently.

I doubt any agents are going to lend broke expats 400k for 12 months and another 400k for 5 months and even if they did, they'd charge so much that the broke expats that need agents wouldn't be able to afford the borrowing fees.

When Big Jok (or "Joke") took over Immigration one of the first things he said he was going to do was crack down on the Visa agents and these rules changes are a reflection of that.

I'd say it is significantly harder to use an agent to get around the financial requirements now than it was a couple years ago.

 

Only one example; however, an American in my condo has renewed his extension in the last week. There is no way he has either the 800K or the 65K income. His American pension is about 45K baht/month. So he has got around the rules somehow.

[baansgr]

26 minutes ago, Kerryd said:

If they wanted people to use agents they would be making the rules easier, not harder. Years ago it was too easy for people to use an agent as they only needed to "borrow" the money for an hour (literally) in order to get a passbook update and bank letter. Then the money was returned to the agent along with a hefty fee.

 

Then Immigration changed the rules - to make it harder to use an agent - because the money had to be in the account for 3 months before applying. Very few people (or agents) want to lend that much money for that length of time, especially to someone that obviously would have a problem paying any of it back if they spent it.

 

However, it seems agents have found a way to get around that and still be able to provide passbooks/bank letters and make money relatively risk free.

 

So Immigration has (again) changed the rules to (again) make it harder to use an agent as the full amount now has to be in the bank for 5 full months and the other 400k has to stay in there permanently.

I doubt any agents are going to lend broke expats 400k for 12 months and another 400k for 5 months and even if they did, they'd charge so much that the broke expats that need agents wouldn't be able to afford the borrowing fees.

When Big Jok (or "Joke") took over Immigration one of the first things he said he was going to do was crack down on the Visa agents and these rules changes are a reflection of that.

I'd say it is significantly harder to use an agent to get around the financial requirements now than it was a couple years ago.

 

Same same in Pattaya, few friends recently did theirs, same price, same everything

[longball53098]

Agent supplied extensions are alive and well. I have heard of several people getting extensions using agents since the rules kicked in.

[yodsak]

 

35 minutes ago, Kerryd said:

Years ago it was too easy for people to use an agent as they only needed to "borrow" the money for an hour (literally) in order to get a passbook update and bank letter. Then the money was returned to the agent along with a hefty fee.

 

Thats exactly how it works now, nothing changed, except there will be more expats using them.    hefty fee same as before.  13k/15k all in. [pattaya]

[Mansell]

Then agents will probably be available for the potentially new health insurance in July......wonder what they will charge?

[yodsak]

Only for O-A.  So doesn't apply.  

[Badrabbit]

Only one example; however, an American in my condo has renewed his extension in the last week. There is no way he has either the 800K or the 65K income. His American pension is about 45K baht/month. So he has got around the rules somehow.

It's not what you know its who you know! anything is doable in Thailand if you are prepared to pay etc!

 

Sent from my SM-G610F using Thailand Forum - Thaivisa mobile app

 

 

 

[yodsak]

1 hour ago, Lacessit said:

Only one example; however, an American in my condo has renewed his extension in the last week. There is no way he has either the 800K or the 65K income. His American pension is about 45K baht/month. So he has got around the rules somehow.

I think he might have used an agent. or a letter

Edited May 23, 2019 by yodsak

[mtls2005]

1 hour ago, Lacessit said:

Only one example; however, an American in my condo has renewed his extension in the last week. There is no way he has either the 800K or the 65K income. His American pension is about 45K baht/month. So he has got around the rules somehow.

 

I know an American who renewed his ext stay/ret yesterday at Div. 1/CW using an Embassy Income Affidavit dated from the end of December 2018.

 

 

[stevenl]

1 hour ago, Lacessit said:

Only one example; however, an American in my condo has renewed his extension in the last week. There is no way he has either the 800K or the 65K income. His American pension is about 45K baht/month. So he has got around the rules somehow.

Could be he had an income letter from embassy obtained at the end of last year.

[Dazinoz]

11 minutes ago, darrendsd said:

And posting stuff like this on a open forum is exactly why we get rule changes

And you don't think immigration know about these? I am sure my post will get the rules changed....NOT

 

Edited May 23, 2019 by Dazinoz

[Nowisee]

Could a person put 800k in an account 2-3 months before their extension, get the extension, then use it up as they want.  3 months before their next extension, open a new account and start all over again?

[yodsak]

Doubt it.   + jomtien want to see your bank book after 3 mths

[darrendsd]

11 minutes ago, Dazinoz said:

And you don't think immigration know about these? I am sure my post will get the rules changed....NOT

 

The rules get changed partly because of posts like yours - do you really think the Government do not read Thai Visa?

 

I know let's break the rules and then post about it in a open forum

 

Please don't think of a career in criminality - you're bound to be arrested on your first job

[bkk6060]

33 minutes ago, darrendsd said:

And posting stuff like this on a open forum is exactly why we get rule changes

False.

Immigration wants you to use an agent.  Millions of baht spread throughout the ranks.

Agents are going no place just the prices going up.

[Tropposurfer]

2 hours ago, Lacessit said:

Only one example; however, an American in my condo has renewed his extension in the last week. There is no way he has either the 800K or the 65K income. His American pension is about 45K baht/month. So he has got around the rules somehow.

Heresay, lots of assuming, and imagination here.

[wgdanson]

9 hours ago, darrendsd said:

Hi Joe as the topic title advises it's the retirement extension

 

So 800k when you first apply - 800k must be in the bank 90 days later for your next extension and then 400k must remain in the bank for the 9 months after that - is that correct?

No it is not correct. You need to top it back up to 800k three months before re-newal.

[Jumbo1968]

2 hours ago, Vacuum said:

I think this is exactly what they want.

I think you are a bit disillusioned, Thai Immigration make lots of money from Agents, the last thing they want is Agents activity curbed.

The posters who are saying the new rules make it tougher for Agents are wrong, Immigration will just put their ‘prices’ up.

[darrendsd]

10 minutes ago, bkk6060 said:

False.

Immigration wants you to use an agent.  Millions of baht spread throughout the ranks.

Agents are going no place just the prices going up.

So why for the first week after these new rules were implemented were agents unsure about if they could continue to offer the money in the bank service?

 

You would have thought they would be the first ones to be told?

 

 

 

 

[Graviton]

9 hours ago, darrendsd said:

Hi Joe as the topic title advises it's the retirement extension

 

So 800k when you first apply - 800k must be in the bank 90 days later for your next extension and then 400k must remain in the bank for the 9 months after that - is that correct?

800k 2 months before for extension and 3 months after.... 400k indefinitely in the bank.... First retirement 3 months before........

[Rimmer]

A couple of posts showing an illegal activity email have been removed

[Vacuum]

12 minutes ago, Jumbo1968 said:

I think you are a bit disillusioned, Thai Immigration make lots of money from Agents, the last thing they want is Agents activity curbed.

The posters who are saying the new rules make it tougher for Agents are wrong, Immigration will just put their ‘prices’ up.

Yes, that's what I wrote.   Read my post again.

[shaurene]

3 hours ago, Kerryd said:

It seems that the 800k must be in the bank 2 months before you make the application, then it has to stay in the account for 3 more months afterwards. Then you can take up to 400k out but the other 400k has to stay in the account.

So now you basically have 400k permanently locked in, unless you want to risk being denied an Extension when you go to renew it next year.

Funny how this only applies to people doing "Retirement" extensions using the "money in bank" method.

 

I guess Immigration is getting fed up with all the people bragging about how they get around the rules using "agents". 

You are 100% correct. Yesterday I went to my local office to find out how long the 800k  has to be in and when I can use some. She explained all you have said.

it has sorted me out.

[bkk6060]

19 minutes ago, darrendsd said:

So why for the first week after these new rules were implemented were agents unsure about if they could continue to offer the money in the bank service?

 

You would have thought they would be the first ones to be told?

 

 

 

 

They were as confused as most of us.

 

But, I can tell you everything is back to kosher they can take care of all the requirements just more expensive. I know several guys who are not even present for their 90 day agents take care of it all.

 

Sorry if this is discussing any illegal activity, but it is the truth.