Should Foreigners Get Credit For Monies Already Invested Towards Visa?

[SAINT THOMAS]

Just wondering if we should receive credit towards the 400,000 and 800,000 required in a Thai Bank for 3 months especially since the Baht against every currency has harmed all of us.

 

House, Condo, car, motorcycle, improvements on house or condo, land.

 

I do realize they don't, but should this be changed?

 

Should each embassy make this a point or would it take something else to bring about this change out of Fairness and Decency towards us investors?

 

I personally have much more invested and sure most if not all do then the 400,000 - 800,000 baht since we are all going to spend and have spent anyway in Thailand.

[Ventenio]

let me give you the short answer.   NO

now let me give you the long answer.  NO

now let me give you the real answer.... hahhahahahhahhahhahahahahha

[Upnotover]

????

[baansgr]

Being awarded a visa is only to allow you entry and to stay in country to spend money and benefit the country in some way...that's pretty much the same with any country worldwide. So no, I don't expect my 30,000 baht wave to be part of the 800k for an extension.

[worgeordie]

They don't care.....

regards worgeordie

[malt25]

"Should each embassy make this a point"  Embassies would be as interested in this as much as the Thai establishment.

Most expats have no understanding of the role of embassies

[Crossy]

The "Investment visa" already (sort of) does this, IF you can afford it.

 

Buy a new 10M condo and get a 1 year visa. There are other investments that qualify and you can apparently do a combination so a 5M condo and 5M in government bonds.

 

[scorecard]

14 hours ago, baansgr said:

Being awarded a visa is only to allow you entry and to stay in country to spend money and benefit the country in some way...that's pretty much the same with any country worldwide. So no, I don't expect my 30,000 baht wave to be part of the 800k for an extension.

When the OP showed his bank book/statement showing the B800K did the immigration officer tell him/promise him there would be an interest payment? No of course not.

Did the actual funds get transferred into a bank account in the name of the Thai Revenue Dept., to add to Thai commonwealth revenues/funds? No. of course not.

Does every Baht that goes into consolidated revenues (for any country) generate a specific return on investment? No of course not. 

and more...

 

[tubby johnson]

Good luck with your ridiculous proposal.

[Maestro]

Removed a troll post (uncorroborated rumour)

[IAMHERE]

Yes, and I should get back the cost of my 'multi re-entry pass'. At the least half the cost of that multi re-entry pass should apply towards my next visa extension unless what I received last February was in reality a visa extinction.   

[Mavideol]

wishful thinking, unfortunately for the IMO, any property (real or personal) doesn't count, their main concern is C A S H in the bank

[saakura]

What about giving credit on the investments made in bar girls, beer, massage etc?

[natway09]

We do get the standard interest on the money & your choice of bank,

Why would you expect anything more ?

[LukKrueng]

18 hours ago, worgeordie said:

They don't care.....

regards worgeordie

What do you mean they don't care? The whole point of the 400/800k is that you are allowed to live here IF you spend at least this amount per year. The extension should really be against proof of transferring this amount into the country every year, and not just putting this amount in the bank once and live here forever

[KarenBravo]

1 minute ago, LukKrueng said:

What do you mean they don't care? The whole point of the 400/800k is that you are allowed to live here IF you spend at least this amount per year. The extension should really be against proof of transferring this amount into the country every year, and not just putting this amount in the bank once and live here forever

.........in other words, the old way, the way it used to be. when at your next extension, the officer would want to see movement in your account to verify you were using it to live on. this is in addition to checking that the newly sent 800k met specifications.

With the new regulations, many people, myself included, ring-fence the 800k and show it every year. We still have to bring in money to live on, so, it's all much of a muchness.

[RichardColeman]

20 hours ago, SAINT THOMAS said:

I personally have much more invested and sure most if not all do

Your're kidding , right ? 

[worgeordie]

11 minutes ago, LukKrueng said:

What do you mean they don't care? The whole point of the 400/800k is that you are allowed to live here IF you spend at least this amount per year. The extension should really be against proof of transferring this amount into the country every year, and not just putting this amount in the bank once and live here forever

There is no set amount to what you have to spend per annum,

spend as little or as much as you can afford,if you have 400,000

or 800,000 Baht in the account that's all immigration requires.

The "They don't care " comment ,was in reply to the OP,who thinks

for whatever reason the Government should reimburse him ,i think

he means because of the strong Bhat ......They don't care.

regards worgeordie

[Caldera]

Simply put, if you want "credit" for anything whatsoever, then go to a country that values whatever contribution you as a foreigner can make. No guesses which country isn't on that list!

 

[scorecard]

29 minutes ago, LukKrueng said:

What do you mean they don't care? The whole point of the 400/800k is that you are allowed to live here IF you spend at least this amount per year. The extension should really be against proof of transferring this amount into the country every year, and not just putting this amount in the bank once and live here forever

 My understanding of having to show 800,000Bht in the bank every year is to prove that you do have the funds needed to support yourself.

[Jenkins9039]

On 6/25/2020 at 9:41 PM, SAINT THOMAS said:

Just wondering if we should receive credit towards the 400,000 and 800,000 required in a Thai Bank for 3 months especially since the Baht against every currency has harmed all of us.

Never going to happen, but should....

 

In the Caribbean this is exactly what happens actually.

[LukKrueng]

4 hours ago, scorecard said:

 My understanding of having to show 800,000Bht in the bank every year is to prove that you do have the funds needed to support yourself.

I think you are correct. This money should support you. However many people use agents to go around this requirement and either work illegally to support themselves or live on a much lower budget that in a way doesn't contribute to the country much, not even to cover the cost and maintenance of the infrastructure they use here. 

[DJ54]

On 6/25/2020 at 10:41 PM, SAINT THOMAS said:

Just wondering if we should receive credit towards the 400,000 and 800,000 required

OP I think it’s a great idea. If you have bought house condo etc. a heavily discounted yearly requirement for long term extension.., 

[timendres]

There was a very brief mention by immigration some time ago, I think during Big Joke's tenure,  about allowing foreigners who purchased a home for their Thai spouse to get some credit for that investment against the required 800k/400k. The concept disappeared like a straw in a hurricane. The simple truth is that Thailand does not need more foreigners to move to Thailand. In fact, I believe they are more concerned about too many foreigners moving to Thailand. Hence, the lack of interest in making it any easier. If every American skating by on a $1,400 per month SS check discovered they could live much better in Thailand, there would be a Tsunami Of Farang. The thought of a TOF would scare any Thai out of their mind.

[kingofthemountain]

1 hour ago, LukKrueng said:

However many people use agents to go around this requirement and either work illegally to support themselves or live on a much lower budget that in a way doesn't contribute to the country much, not even to cover the cost and maintenance of the infrastructure they use here. 

Even a retired foreigner struggling on a pension of 30 000 bahts\month

spend more than 2 times the average income of a random thai

so i don't see what is your point about to cover the cost and maintenance of

the infrastructure, If you are really concerned about this problem, you should 

dig in the direction of the massive corruption system generalised in the country

then you should understand why, despite huges funds spend on the infrastructures

years after year, they are still in a state of disrepair.

I don't even want to bother to talk about the billions ''invested'' in ''studies''

for pharaonics projects which never become a reality, the list is endless

Edited June 26, 2020 by kingofthemountain

[scorecard]

15 hours ago, Caldera said:

Simply put, if you want "credit" for anything whatsoever, then go to a country that values whatever contribution you as a foreigner can make. No guesses which country isn't on that list!

 

So what country IS on that list?