800K 5 Months 400K Indefinitely In Bank For Ext To Stay Based In Retirement

[mikebell]

17 hours ago, Graviton said:

the reasoning behind the new rule from 1st March

The only reasoning behind ANY decision made in Thailand is 'how does this benefit me financially.'

[Henryford]

5 hours ago, Delight said:

In effect each farang who uses the 800K/400K sytem for visa extension is giving Thailand 400K

Multiply that by the number of farang who use that system then you end up with a big gift for Thailand.

This must be good news for Thailand.

Thai authorities  like 'good news for Thailand'

If you recognise this then everything makes sense. 

In reality almost every farang would keep 400k in their bank. I just don't like being told i can never spend it.

[onera1961]

Some guys will have to leave which is sad......

I don't understand why you're sad. Are you also sad for people dying of hunger, disease, war, malnutrition, lack of healthcare etc?

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[onera1961]

Same price in Pattaya, are you saying now that at your IO, an agent would charge 30 or 45k for a retirement extension

I don't understand why somebody wants to pay 45K. TE is 500k for five years. You can stretch it to six years

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[SiSePuede419]

400K Indefinitely In Bank For Ext To Stay Based In Retirement

 

2 reasons:

 

1) If you can't show 40,000B income or deposit 400,000B in a Thai Bank account, then the Thai Government considers you to be "too poor" to stay long term in Thailand.

 

2) You can't practically touch the 400,000B in a Thai bank, if you want to renew your 1 year Non Immigrant O visa, so Thai banks now can use that money to generate profits for themselves.

 

BTW, if you are American, and you fly back to America once a year and reapply in America for another year Non-immigrant Type O visa, you only need $700 in a bank account, according to two different Thai Consultant websites I have seen.

 

Here's one example:

https://thaiembdc.org/consular-services/non-immigrant-visas/non-immigrant-visa-category-o/

 

 

 

Any other questions?

 

 

 

[onera1961]

 
Except that the moment you spend it for that you no longer qualify for your extension of stay.
 
(And of course 400k is ridiculously low for medical cover here. But TI apparently does not know that...or else just settled for what local insurance companies wanted to offer).
 
 

How much is a bypass surgery in a government hospital? How much is TURP. In a government hospital?

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[yodsak]

16 minutes ago, Chicken George said:

Totally not true.. Agents still everywhere even openly advertising on Thsivisa.. 

Yes i know, I didn't say agents have been stopped.  I read somewhere that the money all year round, + bankbook checks, was to make it more difficult for agents to flash the 800k in for an hour.  As we all know It didn't work. It will drive more people to agents, maybe it was supposed to.  But it makes it more difficult next year if you want to get out of the agent system. Not that many will.    

[Knocker33]

17 hours ago, Graviton said:

What and not ask why?

That's why they don't want us here. Because we question things. Thais are programmed never to question. 

[Dania2019]

That you didn`t borrow the money - but people still can can borrow. 

[owenm]

Prior to the most recent changes for money in the bank options for those getting an extension of stay for retirement, 800k in bank 3 mths prior. After extension is approved one could simply transfer excess funds back to your home country again and bounce it every year. 

 

Or by using an agent to lend you 800k for one day to get approval. 

 

Now 800k in bank 2-3 mths before, and 3 mths after, and 400k remaining for the next 6-7 mths. 

If one baht below for the duration of your extension of stay, your next renewal will be cancelled and you'd have to start the process again from new.. 

 

This was implemented also to stop visa agents, charging 15-20k, to cheat the system, although I'm led to believe that some are still offering full services for those with insufficient funds.. How, I don't know? 

[JackThompson]

23 minutes ago, onera1961 said:

I don't understand why somebody wants to pay 45K. TE is 500k for five years. You can stretch it to six years

The only quote I heard that high was UT after the rules-change.  Jomtien is 15K, Bangkok and CM about 25K, per the last reports I've seen.  Phuket might be a bit higher - maybe 30K. 

 

Even at 30K - that's 180K total for 6 years, and not all up-front, so you can earn income on your money all that time, instead of burning up the capital immediately.  With a 6% return, one could pay the agent every year w/o touching the 500K principal.

[ManilaJoe]

Agents in Pattaya seems to have kind of arrangement with Immigration. 

A friend (buyer of my condo when living in Pattaya) told me, 

Last week no problem to extend my retirement for one year, with an agent, without any documents, other than passport.

No need to visit Immigration in person. Cost:17k.

Seems nothing changed at all

 

[yodsak]

21 minutes ago, owenm said:

Prior to the most recent changes for money in the bank options for those getting an

This was implemented also to stop visa agents, charging 15-20k, to cheat the system, although I'm led to believe that some are still offering full services for those with insufficient funds.. How, I don't know? 

Same as before ,they flash 800k into your bank and get you a visa.   And will do the same next year. Adinfinitum [probably]

[Spike1938]

I thought it was to make sure you will not be a burden to the Thai government in case you have an emergency.

However, now that they are requiring insurance the 400K should not be a requirement.

Of course, you can get around that 400k by showing a monthly income that satisfies the type of visa you have.

At least that is as I understand things and I have been shown to be wrong a few times in the past.????

[mserror]

Reasoning? Wrong country.

[hereforgood]

I was told by my friend that works for Immigration that it's simple. If you submit an extension your self based on money in the bank you will receive the letter as I have that requires you to return in 3 months with a updated Bank book. If you go the agent route you simply will not get that letter to return in 3 months. Remember they always say it is up to the discretion of each office how they will deal with this so doing it this way is not breaking the rules it is just how they choose to do it at this office. This is the Jomtien office I am talking about' 

[Tonsan]

I'm surprised nobody has yet twigged the 400k extension requirement is remarkably similar to the stated minimum health insurance now required for the o-a visa. Make any sense now ?

[yodsak]

3 minutes ago, Spike1938 said:

I thought it was to make sure you will not be a burden to the Thai government in case you have an emergency.

However, now that they are requiring insurance the 400K should not be a requirement.

Of course, you can get around that 400k by showing a monthly income that satisfies the type of visa you have.

At least that is as I understand things and I have been shown to be wrong a few times in the past.????

They are not requiring insurance, only O-A. 

[onera1961]

Agents in Pattaya seems to have kind of arrangement with Immigration. 
A friend (buyer of my condo when living in Pattaya) told me, 
Last week no problem to extend my retirement for one year, with an agent, without any documents, other than passport.
No need to visit Immigration in person. Cost:17k.
Seems nothing changed at all
 

I was quoted 13K by a Bangkok agent this year after the new rule of keeping 400k through out the year.

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[Longcut]

18 hours ago, thainet said:

Many guys ask why they did this, or do that. Its not fair, people will be leaving etc. 

But the bottom line is that they make the rules (for whatever reason..its still their rules). So we must live with and adapt to them.

 

No.

You can vote with your feet. That's one election that would get results.

[ThaiBunny]

2 minutes ago, Longcut said:

That's one election that would get results.

Evidence?

[Graviton]

15 hours ago, Toany said:

But the hospital bill is at least partly paid. If you cannot meet the requirements for your visa that is your problem, not theirs.
You will have to return home.
Are you expecting compassion from immigration?

In Thailand goal posts have wheels
 

Correct and you have 400k at hand for 7 months of the year and 400k in the bank still, with 7 months to replenish it. At least you are being honest with how you do your visa and maybe the Government IM dont want to burden you with mandatory insurance, plus you save 15-30k agents fee and 100k insurance premium.. that's 130k max free money to put down if your sick in the 5 months period plus your normal bank account savings.

[Graviton]

25 minutes ago, ManilaJoe said:

Agents in Pattaya seems to have kind of arrangement with Immigration. 

A friend (buyer of my condo when living in Pattaya) told me, 

Last week no problem to extend my retirement for one year, with an agent, without any documents, other than passport.

No need to visit Immigration in person. Cost:17k.

Seems nothing changed at all

 

What about the photo taken at the desk in immigration? By immigration officer with the office background.

[Toany]

What about the photo taken at the desk in immigration? By immigration officer with the office background.

I'm sure the immigration officer will overlook this if approached the right way.

In Thailand goal posts have wheels

[Graviton]

32 minutes ago, Spike1938 said:

I thought it was to make sure you will not be a burden to the Thai government in case you have an emergency.

However, now that they are requiring insurance the 400K should not be a requirement.

Of course, you can get around that 400k by showing a monthly income that satisfies the type of visa you have.

At least that is as I understand things and I have been shown to be wrong a few times in the past.????

Mandatory insurance is not needed  if you did your original on "0" visa and stated by an insurance company also, only O-A for mandatory health insurance.

Edited May 31, 2019 by Graviton
Typo

[Jumbo1968]

19 hours ago, yodsak said:

To stop agents.

 

I am sure Agents will be able too ‘arrange’ the 400k in the bank same as ‘arranging’ the 800k in the bank for a fee ?

[Graviton]

58 minutes ago, JackThompson said:

The only quote I heard that high was UT after the rules-change.  Jomtien is 15K, Bangkok and CM about 25K, per the last reports I've seen.  Phuket might be a bit higher - maybe 30K. 

 

Even at 30K - that's 180K total for 6 years, and not all up-front, so you can earn income on your money all that time, instead of burning up the capital immediately.  With a 6% return, one could pay the agent every year w/o touching the 500K principal.

With the money in the bank fantastic savings and abiding by the law.....sleeping easy...

[Graviton]

4 minutes ago, Toany said:

I'm sure the immigration officer will overlook this if approached the right way.

In Thailand goal posts have wheels
 

Original post said no guessing?

[Toany]

Original post said no guessing?

Big Joke has gone. I think the no tips went with him

In Thailand goal posts have wheels

[luckyluke]

1 hour ago, SiSePuede419 said:

f you can't show 40,000B income or deposit 400,000B in a Thai Bank account, then the Thai Government considers you to be "too poor" to stay long term in Thailand.

 

Nothing to bring/have in Thailand for all countries except 3.