Foreign property owners now allowed to return to Thailand

[AlfHuy]

13 minutes ago, tomacht8 said:

business as usual, I don't see it that way. The tourist destinations are partly ghost towns. But e.g. The shopping centers in Bangkok are also super quite. Many Thais just don't have any money. That runs through the whole economy. The production figures of cars, motorcycles, household appliances, clothing and luxury products are shrinking because no one currently has money to buy them. Hotels, restaurants, bars, street vendors, taxis, supermarkets, hairdressers, massage shops, airlines, insurance companies, tutors, etc. all have less revenue. Export figures significantly down. Apartment and business lessors have lost rental income Thais have never been known for building reserves for bad times. This will also have an impact on the banking sector

you forgot immigration officers, police officers....

[holy cow cm]

41 minutes ago, Airalee said:

Postponed to next year.  Already provided a link in a previous post.

Perhaps smoke and mirrors if one does not research the 3 million in the bank being safe. Next year will come very very fast.

[micmichd]

1 hour ago, tomacht8 said:

True.

But that doesn't contradict my statement to think about,  how "safe" 3 million Baht are in the account of a Thai bank currently.

Guess safer than in the West where the ECB now needs credit again for their unaffordable nanny states. 

[Ratcher]

7 hours ago, lkv said:

Anybody sane enough should make plans to liquidate if possible and say bye bye.

 

It's better voluntary than to find out the bad news upon their next extension.

 

I would like to take the opportunity again to remind the retirees they are not in fact retirees in Thailand, they are retirees in their home countries, and all these non O visas are not really to live in Thailand, but more to visit Thailand for extended periods of time, provided one goes along with the requirements.

 

I do predict the dissapearance of non O for retirement. It has vanished at many consulates pre covid anyway.

 

And silly new conditions for extensions plus more red tape and money.

So you have a crystal ball? I.M.O. your talking Rubbish. Are you locked out? 

[Ratcher]

8 hours ago, lkv said:

Anybody sane enough should make plans to liquidate if possible and say bye bye.

 

It's better voluntary than to find out the bad news upon their next extension.

 

I would like to take the opportunity again to remind the retirees they are not in fact retirees in Thailand, they are retirees in their home countries, and all these non O visas are not really to live in Thailand, but more to visit Thailand for extended periods of time, provided one goes along with the requirements.

 

I do predict the dissapearance of non O for retirement. It has vanished at many consulates pre covid anyway.

 

And silly new conditions for extensions plus more red tape and money.

So you have a crystal ball? I.M.O. your talking Rubbish. Are you locked out? 

[Ratcher]

There seems to be a thread of anti retirees (based on Non O extentions) in some of the replies on this topic. Probably posted by people who are not retirees and locked out of Thailand. Does any TV member have an indication on how many foreign retirees there are in Thailand based on Non O visa extentions? 

[jerolamo]

ridiculously stupid and miss respectful xenophobic and crazy coward's decision.

[Brigand]

On 10/10/2020 at 11:09 AM, Eibot said:

Who are these idiots making these rules?

 

Beijing probably. It's clear that a western foreigner depopulation agenda is active.

[metisdead]

Off topic posts, inflammatory posts, troll posts and the replies have been removed. 

[kcpattaya]

The little tin soldiers have completely lost the plot...

[Ketyo]

Never in the field of human history has anyone wasted so much time and effort as Thai government wastes on moronic pointless schemes that will so obviously fail to achieve anything useful.

 

I suspect less than a hundred people will use this scheme. Maybe less than 10. Why bother designing such a useless thing.

Edited October 11, 2020 by Ketyo

[Peterphuket]

3 hours ago, EricTh said:

Have a house in Thailand but need additional 3 million baht in Thai bank?

 

Most people who bought property in Thailand have only enough for monthly expenses. Only the very rich have additional 3 million baht, putting in 800k is a challenge for many.

 

That's the same as saying foreigners are not welcome except the very rich.

That's not new, the government says this for years.

[Pravda]

4 hours ago, bwpage3 said:

Sorry the prices don't always go up. There is currently a glutton of unsold condos.

 

 

 

Not currently. This has always been the case. 

 

There is also a glut of US dollars. 22% of all US currency was printed this year alone. Let's think about that for a minute. 

[mike787]

....and this is what happens when you buy here....enjoy!

[Pattaya Spotter]

3 hours ago, holy cow cm said:

I think you are responsible for at least 30% of those 400. Just kidding!

It's a rainy day ????

[geisha]

Are they crazy ? Would that be legal elsewhere ? 

 

[Pattaya Spotter]

4 hours ago, tomacht8 said:

True.

But that doesn't contradict my statement to think about,  how "safe" 3 million Baht are in the account of a Thai bank currently.

That's true. Everyone has their own level of risk tolerance and has to make their own decision when putting money in a bank.

[Pattaya Spotter]

36 minutes ago, Pravda said:

 

Not currently. This has always been the case. 

 

There is also a glut of US dollars. 22% of all US currency was printed this year alone. Let's think about that for a minute. 

Because everybody wants them.

[Airalee]

3 hours ago, Ratcher said:

Does any TV member have an indication on how many foreign retirees there are in Thailand based on Non O visa extentions? 

Not sure how accurate the figures are but...

 

 

“Thailand issued almost 80,000 retirement visas in 2018, an increase of 30% from 2014, with Britons accounting for the bulk.

Research by Kasikornthai Bank estimated that in 2016, there were 68,300 foreigners over 50 years old holding long-stay visas, a 9% increase over the preceding two years.“

https://asia.nikkei.com/Economy/Thailand-s-foreign-retirees-see-their-good-life-slip-away

[lkv]

3 hours ago, Ratcher said:

Probably posted by people who are not retirees and locked out of Thailand.

The way I see it, I'm not locked out of Thailand, others are locked in Thailand, since they can't really go out without jeopardising their stays, whereas I have travelled to 3 major European destinations since August, and I am eyeing Bali for the upcoming winter, or whatever else might open.

[Airalee]

17 minutes ago, Pattaya Spotter said:

That's true. Everyone has their own level of risk tolerance and has to make their own decision when putting money in a bank.

Risk tolerance refers to investing...not putting money in the bank.  I put my money in a bank because I don’t want risk.  I’m not looking for return on capital but rather return of capital.

 

“Risk tolerance is the degree of variability in investment returns that an investor is willing to withstand in their financial planning.“

https://www.investopedia.com/terms/r/risktolerance.asp

 

[bkk_bwana]

The article is misleading. The statement from the RT Embassy in London refers to the O-X visa which has been around since 2016. With an O-X visa, you CAN buy a condo, but owning a condo does not mean that you need an O-X Visa. 

[aussiexpat]

Meanwhile, I'm enjoying reality on the Covid free Gold Coast...no need to jump through any hoops

[michel7752]

Do I understand correctly or am I missing something: Property owners have to go through all the requirements asked for STV and O-A visa etc., PLUS they have to park 3.000.000 Baht??? In other words, they are being discriminated for having bought a condo in Thailand???

 

Somebody help me please...

[Ratcher]

14 minutes ago, Airalee said:

Not sure how accurate the figures are but...

 

 

“Thailand issued almost 80,000 retirement visas in 2018, an increase of 30% from 2014, with Britons accounting for the bulk.

Research by Kasikornthai Bank estimated that in 2016, there were 68,300 foreigners over 50 years old holding long-stay visas, a 9% increase over the preceding two years.“

https://asia.nikkei.com/Economy/Thailand-s-foreign-retirees-see-their-good-life-slip-away

I thought the figure would be higher! I guess if you also consider long stay Expats with a marriage visa the figure would be doubled or more?

[michel7752]

9 minutes ago, bkk_bwana said:

The article is misleading. The statement from the RT Embassy in London refers to the O-X visa which has been around since 2016. With an O-X visa, you CAN buy a condo, but owning a condo does not mean that you need an O-X Visa. 

A condo can also be bought while being in Thailand visa exempt. No problem.

[Airalee]

3 minutes ago, Ratcher said:

I thought the figure would be higher! I guess if you also consider long stay Expats with a marriage visa the figure would be doubled or more?

I would guess at least double if also considering all the people on Education Visas and others who game the system to their advantage. 

[ChipButty]

11 minutes ago, Ratcher said:

I thought the figure would be higher! I guess if you also consider long stay Expats with a marriage visa the figure would be doubled or more?

Dependent visa's also

[michel7752]

A more appropriate title for this thread would be:

"Foreign property owners NOT allowed to return to Thailand"

[Airalee]

5 hours ago, Peterw42 said:

A lot of Thais have taken up some level of mortgage relief on offer from the banks, wife has a mortgage and hasn't paid it for 6 months and about to apply for another 3 months. 

Not everyone has lost their job, for many Thais, with non tourism jobs/businesses, its business as usual, 

For most Thais a tourism job represented a seasonal 300-400 baht a day job, many have just gone and found another non tourism job. 

That mortgage relief is great for the banks...not so much for the borrowers.  Most banks just kick the can down the road by offering relief in the form of “interest only” payments...meaning, the banks still get paid and then the loan is then extended at a fully amortizing payment for however long the “relief” is utilized.  In the end, the bank...well...most of them...squeeze more interest out of the borrowers.

 

https://news.fazwaz.com/financial/bank-of-thailand-mortgage-relief-measures-during-covid-19/

Edited October 11, 2020 by Airalee