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

[Jingthing]

19 minutes ago, zaZa9 said:

Nobody , that I have read here ( not all of it ) appears to want to talk about what an "agent" has to say.

 

So I meet acquaintance today , who has used an agent for a Retirement Extension for 2 years .

 

He says hes been paying an agent 17k baht a year - the agent purports to be an ex Immigration Officer. He mails off only photocopies of whats requested , then when hes given the ok , he meets the agent outside  the IO and his passport is taken inside and its stamped.

No  800k , no 90 day report ... no anything.

 

On the 'new deal' , hes says its the same deal  ,  and no 400k needs depositing , so he will bite  the bullet and pay  the new price later this year.

But the price has gone up to 28k per year - same deal , meet ONCE a year …

 

 

 

As I would expect but keep in mind under the new post seasoning rules that locks in expats to always using agents going forward unless they don't mind starting over with a new O visa. 

[Pilot3Boz]

!) Stop agents ... If really possible...

2) Have money for any sort of medical emergency or other issue that may arise onhand and not be a burden to the Thai Gov't..... This may be a moot point with the proposed new tax 

 

 

[Toany]

Nobody , that I have read here ( not all of it ) appears to want to talk about what an "agent" has to say.
 
So I meet acquaintance today , who has used an agent for a Retirement Extension for 2 years .
 
He says hes been paying an agent 17k baht a year - the agent purports to be an ex Immigration Officer. He mails off only photocopies of whats requested , then when hes given the ok , he meets the agent outside  the IO and his passport is taken inside and its stamped.
No  800k , no 90 day report ... no anything.
 
On the 'new deal' , hes says its the same deal  ,  and no 400k needs depositing , so he will bite  the bullet and pay  the new price later this year.
But the price has gone up to 28k per year - same deal , meet ONCE a year ...
 
 
 

It looks like it has not stopped the agents.

What is has done is to allow them to increase their fees substantially.

It makes you wonder what the real reason is behind the changes

In Thailand goal posts have wheels

[Jingthing]

Just now, Toany said:

It looks like it has not stopped the agents.

What is has done is to allow them to increase their fees substantially.

It makes you wonder what the real reason is behind the changes

In Thailand goal posts have wheels
 

Exactly. 
It's quite bizarre. 
The onerous changes have actually pushed many people that have long been legally complying into the hands of agents.

But with a difference.

Using the bank method as the agents use, clients are being LOCKED into DEPENDENCE on the agents because of the new POST seasoning requirements.

To suggest this all was intentional is a conspiracy theory, but whatever the truth of the intentions (if even thought out which is debatable), that is the result. 

[Percy P]

On 5/30/2019 at 2:33 PM, DrJack54 said:

You may well of added. NO answers please.

Because any answer would be a guess.

But it cuts the loan sharks out and have people  who have  the money criteria here. 800000 in The Bank .Not 80000 which has been loaned to them in the Bank

[Toany]

But it cuts the loan sharks out and have people  who have  the money criteria here. 800000 in The Bank .Not 80000 which has been loaned to them in the Bank

It cuts out the loan sharks and pushes you into the hands of the agents who deal with immigration.

In Thailand goal posts have wheels

[Graviton]

5 minutes ago, Toany said:

It cuts out the loan sharks and pushes you into the hands of the agents who deal with immigration.

In Thailand goal posts have wheels
 

Not if you have the 800k you can do it yourself.

[Percy P]

2 minutes ago, Toany said:

It cuts out the loan sharks and pushes you into the hands of the agents who deal with immigration.

In Thailand goal posts have wheels
 

Thanks for the comment.

I'm a retired person but not on a retirement visa 0A. I'm quite happy with my None Imm o multi entrance 90 day stay

[Percy P]

7 minutes ago, Graviton said:

Not if you have the 800k you can do it yourself.

If you have 800000Baht in a Thai Bank everything is Roses, but that is at the moment £20000 and who wants £20000 stuck in a bank at retirement. If you want to put B800000 aside them put it in your own countries currency

[JackThompson]

14 minutes ago, Toany said:

18 minutes ago, Percy P said:

But it cuts the loan sharks out and have people  who have  the money criteria here. 800000 in The Bank .Not 80000 which has been loaned to them in the Bank

It cuts out the loan sharks and pushes you into the hands of the agents who deal with immigration.

An 800K loan for 3 mo already cost more than agent fees - the old 3 mo seasoning was created to ensure those who needed "help" would have to use immigration's agent-partners.

 

The further extension of seasoning into "post application" territory, was designed to hit legit-applicants only, and to "lock in" agent users - ensuring a form of "recurring billing" - and preventing a switch to mo-income for future extensions. 

 

This is further rigged by some offices refusing to accept less than 12-months income transfers - ignoring the "flexibility" statement in the new rules.  So, one retiring on income might have to use an agent once, but then never be able to get off the agent-train in the future.

[Graviton]

1 minute ago, JackThompson said:

An 800K loan for 3 mo already cost more than agent fees - the old 3 mo seasoning was created to ensure those who needed "help" would have to use immigration's agent-partners.

 

The further extension of seasoning into "post application" territory, was designed to hit legit-applicants only, and to "lock in" agent users - ensuring a form of "recurring billing" - and preventing a switch to mo-income for future extensions. 

 

This is further rigged by some offices refusing to accept less than 12-months income transfers - ignoring the "flexibility" statement in the new rules.  So, one retiring on income might have to use an agent once, but then never be able to get off the agent-train in the future.

Still say you got the money, do it yourself, its easy, and ฿1900 plus letter statement photo.

[jacko45k]

6 minutes ago, JackThompson said:

ensuring a form of "recurring billing" - and preventing a switch to mo-income for future extensions. 

While I agree with most of what you say, I don't see how it realistically prevents a switch to income. UNLESS you presume a check is made on 'last years' extension's money in the bank for compliance. Generally it just would mean, use an agent once, you are hooked! Only solution I would consider would be a trip back to the UK and try to come back on a Non-Imm OA, or O Multiple and start again. Bad luck for those who have burned their bridges and have nothing back home.

[Toany]

Still say you got the money, do it yourself, its easy, and ฿1900 plus letter statement photo.

Yes, I have found it easy for the last 16 years until they started the TM30 rule enforcement. Now, nothing is easy any more.

In Thailand goal posts have wheels

[Percy P]

On 5/30/2019 at 3:11 PM, 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.

 

I agree

[Toany]

I agree

I agree as well.

But, I reserve the right to moan about it 555

In Thailand goal posts have wheels

[Joe Mcseismic]

So......all those posters that are up-in-arms because of the new 800k rules, whereby, you have to leave 400k throughout the year and can't touch the 800kfor five months, why don't they just switch to the 65k per month method? No seasoning and the money can be spent immediately. What's the problem?

[yodsak]

58 minutes ago, Toany said:

It looks like it has not stopped the agents.

What is has done is to allow them to increase their fees substantially.

 

Same prices in pattaya, circa 15k

[rott]

On 5/30/2019 at 2:30 PM, yodsak said:

To stop agents.

 

Best to remain silent etc.

 

If there was any intent to stop agents they would just be prevented from entering immigration.

[rott]

On 5/30/2019 at 3:17 PM, Graviton said:

What and not ask why?

Pointless question, there is never any intention that foreigners understand things. Or indeed many/any outside the decision makers.

 

And if you did understand why, what difference would it make?

[jacko45k]

24 minutes ago, Joe Mcseismic said:

So......all those posters that are up-in-arms because of the new 800k rules, whereby, you have to leave 400k throughout the year and can't touch the 800kfor five months, why don't they just switch to the 65k per month method? No seasoning and the money can be spent immediately. What's the problem?

I am concerned that some IOs not only want to see the 65,000 arrive in Thailand each month, but also want it verified as a pension at source. I could not qualify for this. The 800k left alone is my solution, but it irritates that they dictate I need 800k to live on for the year, but can only spend 400k of it. It does seem an imbalance between those using income and those using money on deposit. 

[elviajero]

1 hour ago, Toany said:

It looks like it has not stopped the agents.

It wasn't meant to.

[elviajero]

48 minutes ago, Joe Mcseismic said:

So......all those posters that are up-in-arms because of the new 800k rules, whereby, you have to leave 400k throughout the year and can't touch the 800kfor five months, why don't they just switch to the 65k per month method? No seasoning and the money can be spent immediately. What's the problem?

I suspect that most people that are "up-in-arms don't have the 800K. Those that do could switch to the income method, but they will then moan about the cost of transferring their income every month!

[Jingthing]

56 minutes ago, Joe Mcseismic said:

So......all those posters that are up-in-arms because of the new 800k rules, whereby, you have to leave 400k throughout the year and can't touch the 800kfor five months, why don't they just switch to the 65k per month method? No seasoning and the money can be spent immediately. What's the problem?

The vast majority of Americans receiving social security checks get checks UNDER 65K per month. 

[Graviton]

13 minutes ago, Jingthing said:

The vast majority of Americans receiving social security checks get checks UNDER 65K per month. 

 

[Joe Mcseismic]

9 minutes ago, Jingthing said:

The vast majority of Americans receiving social security checks get checks UNDER 65K per month. 

So......what happened to their savings? Everyone gets old, it's the most foreseeable circumstance. If you spent everything without any savings for your old age, then, no sympathy.

[Graviton]

Just now, Joe Mcseismic said:

So......what happened to their savings? Everyone gets old, it's the most foreseeable circumstance. If you spent everything without any savings for your old age, then, no sympathy.

What if they used it on medical, cause no insurance company would touch them?

[Jingthing]

4 minutes ago, Joe Mcseismic said:

So......what happened to their savings? Everyone gets old, it's the most foreseeable circumstance. If you spent everything without any savings for your old age, then, no sympathy.

Having immigration having oversight of your bank account every day of the year is onerous. You're making obnoxious and incorrect assumptions about the personal finances of many thousands of people. It's mean spirited, offensive, and ignorant. Each individual has their own personal financial situation and their own processes of transferring money into Thailand. Generalizing so much as you and so many other "no sympathy" expats do doesn't reflect reality.

I don't wish it but someday maybe you'll understand how dense it is to make such negative generalization assumptions from your own personal experience here with immigration policy. 

[Graviton]

1 minute ago, Jingthing said:

Having immigration having oversight of your bank account every day of the year is onerous. You're making obnoxious and incorrect assumptions about the personal finances of many thousands of people. It's mean spirited, offensive, and ignorant. Each individual has their own personal financial situation and their own processes of transferring money into Thailand. Generalizing so much as you and so many other "no sympathy" expats do doesn't reflect reality. 

Sadly a lot think only of themselves.. No humanity sad

[Jingthing]

1 minute ago, Graviton said:

Sadly a lot think only of themselves.. No humanity sad

My impression is mostly they don't "think" at all. It's a sick sport for so many expats to mock and insult vulture like at expats having problems. It's nauseating to watch and yet so very predictable.

[Graviton]

Just now, Jingthing said:

My impression is mostly they don't "think" at all. It's a sick sport for so many expats to mock and insult vulture like at expats having problems. It's nauseating to watch and yet so very predictable.

A lot of strangers say at a bar when you meet want you to be down on your luck more than them, it most empower them, but when they see your not, they become angry why?