Retirement O Visa: Likelyhood of requirements being raised?

[Hal65]

I'd guess in 30 years Thailand will be much richer than it is now. Do you guys think this will reflect in the retirement visa minimum income? Or have they/other SEA countries kept these fixed for a while to give confidence for retirees?

[glegolo]

In this country we cant even predict the reminder of THIS year, so your question is completely impossible to even waste time on...

 

RELAX...

 

glegolo

[scubascuba3]

Of course it will keep going up, the question is when and how much which no one knows

[quandow]

3 minutes ago, scubascuba3 said:

Of course it will keep going up, the question is when and how much which no one knows

Ya beat me to it!

[Puchaiyank]

Naw man, they are going to recognize the error of their ways and start giving incentives to expat retirees tomorrow...

[petermik]

7 hours ago, Puchaiyank said:

Naw man, they are going to recognize the error of their ways and start giving incentives to expat retirees tomorrow...

Barfines are being waived for anyone showing their long stay "retirement" visa......

[from the home of CC]

probably depends on how many expat scams they uncover..

[jacko45k]

4 minutes ago, petermik said:

Barfines are being waived for anyone showing their long stay "retirement" visa......

Where?

[worgeordie]

Only if the pound recovers  65 Baht to Sterling.????????

 

 regards worgeordie

[Hal65]

I read up on the West. Spain doesn't have a fixed amount for their retirement Visa. Australia wants AUD 50k or 65k depending on region. Seems high for a retiree but that's the West for you. Also means Thailand has plenty of room to raise their own thresholds.

[Peterw42]

Yes, requirements will go up.

Sometime in our lifetime a carton of milk will be 500 baht as well.

[Pib]

I predict there is anywhere from a 0 to 100% chance future income requirements will be increased...and I'll be even more specific with the timeframe by saying within 0 to 100 years.

[Delight]

 _{Expats are a cash cow for Thailand.}

_{The temptation must be to milk it for all it's worth.}

_{I sense that the recent requirement for health insurance for Non Imm O is just a test.}

_{If it succeeds in not reducing the number of applicants -then they will legislate  to  cover Visa extenders.}

_{3 year test period is my guess}

Edited June 1, 2019 by Delight

[overherebc]

1 hour ago, Puchaiyank said:

Naw man, they are going to recognize the error of their ways and start giving incentives to expat retirees tomorrow...

As the UK system, they will start next year with a cold weather allowance to help with any heating bills retirees have to pay here.

Edited June 1, 2019 by overherebc

[marcusarelus]

It's called inflation.  Everything, everywhere goes up including your wife's waistline. 

[dotpoom]

4 hours ago, Hal65 said:

I'd guess in 30 years Thailand will be much richer than it is now. Do you guys think this will reflect in the retirement visa minimum income? Or have they/other SEA countries kept these fixed for a while to give confidence for retirees?

 I will be 100 years old...I think I'll wait till then to worry about it.

[glennb6]

bah!  inflation is the excuse for govt theft and graft. bah! prices should go up because some neighboring countries charge more BS! - basic capitalism dictates 'cut the price and increase the volume and higher overall income'.

 

said it before, reduce or eliminate the retirement bank deposit / mthly income and the 50yr age requirements, (sure, keep the criminal background checks), welcome all retirees to come and spend in thailand. watch the income grow!

[holy cow cm]

Targeting foreigners is too easy to make money. But targeting too much will create an exodus. 

[RJRS1301]

One would think that if they reduced the financial imposts, made health insurance or contributions to health cover compulsory, then more would arrive, spend income, invest, and contribute to the economy.

Sure 800,000 to get initial visa, but reduce the requirements for the money to be held in a Thai account.

Especaily when they make it difficult to open an account in the first place

 

[Thingamabob]

Yes indeed, cost of everything only goes up, never down.

[mike787]

6 hours ago, scubascuba3 said:

Of course it will keep going up, the question is when and how much which no one knows

YEP!  Absolutely!  Thais are not stupid, they want cash and as much as they can from us expats.  Everything is going up, gradually, but surely. 

[Deerculler]

Will we be mining for gold on Mars tomorrow?

Same sort of question.

[connda]

You can't predict anything with certainty, but given the pace of changes in the last year, it seems they are on a roll.  Don't be surprised by anything.  Have a "Plan B" then you will not feel like a victim.  And be willing to execute your Plan B.  

Edited June 1, 2019 by connda

[connda]

6 hours ago, Peterw42 said:

Yes, requirements will go up.

Sometime in our lifetime a carton of milk will be 500 baht as well.

But the same carton of milk will be the equivalent of 5000 baht in whatever country you came from, especially the US and UK. 
"Expats who can't afford Thailand need to go home!!", we hear from the "I'm richer that you" elitist farang chorus-line.  To what may I ask? A nice pup-tent on Venice Beach?

[thailand49]

????

Must be really boring where the poster is living real boring?

Edited June 1, 2019 by thailand49

[Brunolem]

1 hour ago, mike787 said:

YEP!  Absolutely!  Thais are not stupid, they want cash and as much as they can from us expats.  Everything is going up, gradually, but surely. 

Not true! 

 

I have been here for 20 years and have always known the 800,000 baht requirement. 

 

I have also always known the pickup taxis at 10 baht and the Bangkok taxi meters at 35 baht. 

 

In 30 years, I will be long dead, and so will be planet Earth, thus questions beyond 10 years from now get the automatic answer N/A (input error). 

 

[KiChakayan]

7 hours ago, Hal65 said:

I read up on the West. Spain doesn't have a fixed amount for their retirement Visa. Australia wants AUD 50k or 65k depending on region. Seems high for a retiree but that's the West for you. Also means Thailand has plenty of room to raise their own thresholds.

Not so high, I am making 135k a year with the current exchange rate, maybe I could add 40k of 50k, if my (Thai) wife could land some job, but I don't see myself resettling down under, starting from zero, with two kids.

[Thaidream]

I would be surprised if rasing the income level will be done anytime soon.  There is already huge discontent among the Expat community and the potential retirees .

 

Actually- there already is a subtle raise in the changes.  Remember the 800K has to be in the bank  2 months prior and 3 after and cannot be touched.  However, one must still pay rent; food etc so one will need to bring in added funds. If we use 65K as the minimum per month- those 5 months will mean another 325K to live on.  

 

As far as the income method- the funds have to be transferred in- which means transfer fees- trips to update bankbooks ; more trips to Immigration. This is an added cost that did not exist before.

 

The only thing that remained the same for everyone except 3 Nationalities is the Embassy Letter.  Every other nationality can get the letter. I also think it is rather interesting that no other Embassy except the 3 (Denmark reinstated it) saw any reason to stop these letters and the reason they didn't stop them is there was no logical reason to.

 

  Rather strange that the 3 Embassies that stopped it-  all have budget issues- yet the Embassy letters generated more than enough income to pay for them.  I do believe we have been hoodwinked!!!

 

 

Edited June 1, 2019 by Thaidream

[Pib]

20 minutes ago, Thaidream said:

 Rather strange that the 3 Embassies that stopped it-  all have budget issues- yet the Embassy letters generated more than enough income to pay for them.  I do believe we have been hoodwinked!!!

Sums it up well about the UK/US/AU embassies.

[Aussieroaming]

Hahaha this post made me smile