It’s coming up to a year since the B800,000/B400,000 requirement was introduced for retirement extensions. Like a good few other folk,

rather than dance to the immigration tune have chosen to maintain B800,000+ in my account for the entire year. So, with a renewal date

due early next month was down at my local probation office earlier this week.

 

My extension was granted without issue, but not before the lady IMO spent a considerable time staring, rather blankly, at the copy of my

bank book. She seemed rather perplexed that the farang could park near on a million baht for 12 months without, it would seem, any worries. 

 

My thought is that these rather lowly-paid civil servants are going to be seeing a good few more of these million baht farang accounts over

the coming months. How is that for a morale booster?  

  

Me thinks your going to be disappointed, because ALL of the farangs I know, use an agent, meaning they don't have the spondoolies, present company excluded.

Wait when they see how much a month I shove into my account each month . My wife spends a lot. 

In 15 years no I.O. was/is surprised that I have monthly income in my homeland higher than the equivalent of 65000 ThB.

That's one of the conditions to obtain an extension, when one is not American, Australian, British.

1 hour ago, 4MyEgo said:

Me thinks your going to be disappointed, because ALL of the farangs I know, use an agent, meaning they don't have the spondoolies, present company excluded.

Everyone starts keeping 800 grand Bhat in their bank accounts for twelve months the price will go up to 2 million Bhat.

1 hour ago, dick turpin said:

My thought is that these rather lowly-paid civil servants are going to be seeing a good few more of these million baht farang accounts over

the coming months. How is that for a morale booster?  

Only the junior IOs are lowly paid.

The Senior IOs 50+ probably make more than 800k per year, plus all the civil servant benefits, so hardly a reason to be envy.

Having 800k in the bank often means that you spend less than 65k per month, or you could just show proof of your money transfers into Thailand. Maybe they don't envy, but instead pity foreigners who come from rich countries but seem to have less money than the IOs?

Edited February 29, 20206 yr by jackdd

Furthermore I don't think any I.O. is very impressed with an amount of 1 million on a bankbook,

many of them drive a Mercedes.

 

And all of them have something which we will never possess :

 

the power to make someone's life, who is requesting an extension,  as difficult as they wish. 

1 hour ago, 4MyEgo said:

Me thinks your going to be disappointed, because ALL of the farangs I know, use an agent, meaning they don't have the spondoolies, present company excluded.

I don't think the percentage is high generally, just your farang acquaintances.

Perhaps 15-20%.... the rest have the money, show income or have marriage extensions. 

1 hour ago, dick turpin said:

So, with a renewal date due early next month was down at my local probation office earlier this week.

Lol.  So true.  I'm due to renew in March.  Actually I could renew today as last year I renewed before March 1 to get around the the new regulations whose only purpose seems to be to add to the level of harassment of foreigners that government seems to place at the same level as criminals on probation.  However, unlike we foreigners, there is eventually an end to the reporting for those on probation - there is never an end for long-stay foreigners retired here or married to Thai women.  So as far as status - we are wayyyyy below the Thai criminal class.  

 

 

2 hours ago, 4MyEgo said:

Me thinks your going to be disappointed, because ALL of the farangs I know, use an agent, meaning they don't have the spondoolies, present company excluded.

Which begs for an observation. 
All the new rules regarding money in the bank for retirement extensions were imposed to assure that the "bad foreigner" element isn't able break the law by gaming the system.
After the new rules went into effect, who are those penalized, put under a bureaucratic microscope, and additional layers of regulations that accomplish nothing but to harass? 
All the retirees who are playing by the rules - like myself.
The irony being that those same rules have now just increased the actual level of criminality within the system.  You point out a fact that is common knowledge within the expat community.  We all know, as you point out, that it is now easier then ever to go the Agent Route.  Agents who work with individuals who are capable of obtaining valid visa extension stamps for a price.  I wonder whom that could be?  Humm?  ????
* Play by the rules - get penalized, put under a microscope, and harassed.  
* Pay and agent to bypass the laws - get rewarded with an easy, hassle-free renewal.
Yeah, the naysayers will say, "But, big problem if they ever crack down and you get caught."  But no one will ever get caught.  TIT.  The corruption is endemic.
Thailand is incapable of cleaning up the poop in its own backyard.  The new rules reward banks, those who use agents, and those involved in visa extensions for a price schemes.  Where there is money involved, corruption flourishes.  The fact that these schemes became the path of least resistance through the visa extension gauntlet should be of no surprise to anyone. 

Edited February 29, 20206 yr by connda

2 hours ago, dick turpin said:

It’s coming up to a year since the B800,000/B400,000 requirement was introduced for retirement extensions.

"Introduced" has been an option for over twenty years, I have been using the 800k option for 15 years and never had an IO look in the least surprised.

2 hours ago, 4MyEgo said:

Me thinks your going to be disappointed, because ALL of the farangs I know, use an agent, meaning they don't have the spondoolies, present company excluded.

You must have some poor friends.  555

800,000 baht bank requirement for one year extensions has been around for many years, nothing new

27 minutes ago, connda said:

Which begs for an observation. 
All the new rules regarding money in the bank for retirement extensions were imposed to assure that the "bad foreigner" element isn't able break the law by gaming the system.
After the new rules went into effect, who are those penalized, put under a bureaucratic microscope, and additional layers of regulations that accomplish nothing but to harass? 
All the retirees who are playing by the rules - like myself.
The irony being that those same rules have now just increased the actual level of criminality within the system.  You point out a fact that is common knowledge within the expat community.  We all know, as you point out, that it is now easier then ever to go the Agent Route.  Agents who work with individuals who are capable of obtaining valid visa extension stamps for a price.  I wonder whom that could be?  Humm?  ????
* Play by the rules - get penalized, put under a microscope, and harassed.  
* Pay and agent to bypass the laws - get rewarded with an easy, hassle-free renewal.
Yeah, the naysayers will say, "But, big problem if they ever crack down and you get caught."  But no one will ever get caught.  TIT.  The corruption is endemic.
Thailand is incapable of cleaning up the poop in its own backyard.  The new rules reward banks, those who use agents, and those involved in visa extensions for a price schemes.  Where there is money involved, corruption flourishes.  The fact that these schemes became the path of least resistance through the visa extension gauntlet should be of no surprise to anyone. 

Hit the nail on the head.

 

I just do what I have to do, "the legal way" because I can afford to do it that way, and am a firm believer that there are no "real" shortcuts in life, sooner or later it will bite em in the a$$, if it doesn't, well if their existence here is at the whims of corrupt immigration officers and agents, well they deserve every baht they throw away at them, now what if tomorrow the price went up and up and up, oh well, I will enjoy my years supply of beers as opposed to wasting it on corrupt IO's and agents who are laughing at the poor farangs.

 

Each to their own, but seriously, what an existence to be living here in Thailand, i.e. unless they had unforeseen circumstances happen to them, like a Thai partner ripping them off etc etc etc, but for those who have worked all of their lives who couldn't put 800,000 baht in the bank, well, I'm lost for words.

Edited February 29, 20206 yr by 4MyEgo

4 minutes ago, stouricks said:

Incorrect. Brits, USA & Oz still have to have in excess of Bht 65,000 per month TO BE ABLE TO SEND IT HERE.

To send it to Thailand, yes.

All other countries citizens only have to prove they have that kind of income in their homeland.

They don't have to send any money to Thailand, if they don't wish to.

Neither have any amount on a Thai bank account for any laps of time.

This have always been an option for every nationality,

mo more for 3 since a while. 

2 minutes ago, 4MyEgo said:

but for those who have worked all of their lives who couldn't put 800,000 baht in the bank, well, I'm lost for words.

To each his own.

Since 2000 I transfer voluntarily monthly 2000 Euro to Thailand and spend them.

No significant amount on my bank account in my homeland, and Thailand.

When I worked I applied the same principle.

Of course my way, I am not imply that everyone should do as I do.

Freedom of choice.

1 hour ago, luckyluke said:

I don't think any I.O. is very impressed with an amount of 1 million on a bankbook,

many of them drive a Mercedes.

Do they, how many?  How do you know?

 

Perhaps all the IOs that you must have checked up on have nice cars by paying just a few thousand baht a month to the finance company after the trade-in or selling their previous car.

Edited February 29, 20206 yr by Just Weird

1 minute ago, luckyluke said:

To each his own.

Since 2000 I transfer voluntarily monthly 2000 Euro to Thailand and spend them.

No significant amount on my bank account in my homeland, and Thailand.

When I worked I applied the same principle.

Of course my way, I am not imply that everyone should do as I do.

Freedom of choice.

Of course, if that is another way to qualify, then no need to have the money in a Thai bank account, my point was more so on farangs using agents as opposed to monthly transfers, I mean if they had the monthly income, or the 800,000 baht, they wouldn't require the agent.  

15 minutes ago, 4MyEgo said:

But for those who have worked all of their lives who couldn't put 800,000 baht in the bank, well, I'm lost for words.

I don't want to put money (beyond immediate living expenses) in a Thai bank account.

Same as I don't want to buy worthless Thai health insurance.

Edited February 29, 20206 yr by BritManToo

800k is chump change, not sure why an immigration office should be surprised/impressed.

3 minutes ago, BritManToo said:

I don't want to put money (beyond immediate living expenses) in a Thai bank account.

But you do not mind putting 25,000 in an Agent's bank account!   LOL

7 minutes ago, BritManToo said:

I don't want to put money (beyond immediate living expenses) in a Thai bank account.

Same as I don't want to buy worthless Thai health insurance.

I dont want a Thai Elite  visa either 

7 minutes ago, stouricks said:

But you do not mind putting 25,000 in an Agent's bank account!   LOL

I'm completely legal with Non-os from Laos/Vietnam.

12 minutes ago, BritManToo said:

I don't want to put money (beyond immediate living expenses) in a Thai bank account.

Same as I don't want to buy worthless Thai health insurance.

If you qualify for the 65,000 baht per month part of it, right you are 

 

 

I don't see a reason not to put the 800k into a Thai bank if you have the funds.

When I decided to stay long time here in 2009, the 800k THB were about 

16k Euro. Now it's about 23.5k Euro. Not so bad, I guess.

And does anybody really believe the banks in our home countries are much saver if there is a real crash of the international financial system?

23 minutes ago, JustAnotherHun said:

And does anybody really believe the banks in our home countries are much saver if there is a real crash of the international financial system?

I do believe the UK banks are much safer than the Thai banks, the Thai bank tellers, the Thai bank managers, the Thai police, and the Thai women we share our beds with. Not to mention if the Thai police decide to arrest you (on real or bogus charges), and Thai immigration deport you, they're more likely to take your money in a Thai bank.

 

That Dutch guy, who came here after selling his coffee shops being just one of many examples.

I don't so much worry about any financial systems breaking down, I do worry about a crook in Thailand taking my money from the bank, and nobody caring about recovering it because I'm just another foreigner.

 

Did you read the thread about the guy making the 500k house deposit, and then someone in the company stealing it, and the company claiming 'not their problem'?

Edited February 29, 20206 yr by BritManToo

1 hour ago, stouricks said:

But you do not mind putting 25,000 in an Agent's bank account!   LOL

The agent does not get that.... maybe 2-5000. The rest, well guess.

1 hour ago, Skallywag said:

800,000 baht bank requirement for one year extensions has been around for many years, nothing new

Previously only for three months prior, now a mix of B800,000/B400,000 for the entire year. 

1 hour ago, stouricks said:

But you do not mind putting 25,000 in an Agent's bank account!   LOL

Shop around, that's about double what most people pay. LOL

1 hour ago, BritManToo said:

I do believe the UK banks are much safer than the Thai banks, the Thai bank tellers, the Thai bank managers, the Thai police, and the Thai women we share our beds with. Not to mention if the Thai police decide to arrest you (on real or bogus charges), and Thai immigration deport you, they're more likely to take your money in a Thai bank.

 

That Dutch guy, who came here after selling his coffee shops being just one of many examples.

I don't so much worry about any financial systems breaking down, I do worry about a crook in Thailand taking my money from the bank, and nobody caring about recovering it because I'm just another foreigner.

 

Did you read the thread about the guy making the 500k house deposit, and then someone in the company stealing it, and the company claiming 'not their problem'?

The UK banks are less save:

https://en.wikipedia.org/wiki/List_of_banking_crises

 

The Dutch guy got shafted by the Dutch government, not the Thais.

 

If the Thai police arrest you there must be a reason, if they don't I would be out in no time and make sure they lose their job.