Foreign property owners now allowed to return to Thailand

[NanLaew]

2 minutes ago, redwood1 said:

Well one good thing for expats already here is condo rental prices have been dropping every month......I watched a 15,000 baht a month condo drop in price to 8500 a month......Lots of Condos getting cheaper.....Not just rentals but sales prices dropping....I think the Chinese will be picking up some bargain priced condos from expats who can't come back soon....

Well I hope they like animal print, faux Khmer gilt and Balinese-style chintz.

[Henryford]

4 minutes ago, redwood1 said:

Well one good thing for expats already here is condo rental prices have been dropping every month......I watched a 15,000 baht a month condo drop in price to 8500 a month......Lots of Condos getting cheaper.....Not just rentals but sales prices dropping....I think the Chinese will be picking up some bargain priced condos from expats who can't come back....

The irony is that no one can get into the country to rent them !

[ukrules]

3 hours ago, madmen said:

So punters drop eg 5 to 15 million baht on a home and now need to show 3 million to use it

 

Sounds fair 

That's not the way I read it, they want to see the purchase amount deposited in the bank at some point in the past and it appears to be a filter to keep out the people who bought small / cheap condos.

 

If you've dropped 5 to 15 million on a home then you can show a bank deposit of 5 to 15 million, can't you? They didn't mention a current balance of this amount.....

 

I think this needs some clarification as to whether a deposit 10 years ago of more than 3 million Baht will suffice here, I suspect it will but I could be wrong.

 

Edited October 10, 2020 by ukrules

[pi2005ni]

They really are intent in getting rid of the dead beat foreigners. If you are genuinely retired here 3 million baht is not a fortune to have in the bank . 

[AlfHuy]

Do they publish this as well in Thai language.

 

Hundreds of thousand Thai girls must be crying their eyes out now.

Now farang to support them anymore.

[spidermike007]

The concept of Thai officials "learning something" is quite an abstract and hopeful idea. Even with the great humiliation brought on by the devastation of the tourism industry, the drop in exports, and the doldrums of the economy, one would hope the officials here might be capable of learning, adapting, and being more humble. But, I see no indication of that. Dinosaur brains are hard to educate. 
 
So, we have about 3 trillion baht missing from the economy, minus the little bit of domestic travel going on. 20%! Millions of jobs. How long will that vacuum remain? Will the army develop some guts, courage, creativity and stop the panic mongering? It is unlikely. And what about the people? They are not really a consideration. If you are not rich or connected, you do not factor in. Woe is the average Thai, who worked in tourism. 
 
What can one say? Desperation is setting in. Heads are going to roll. Just returned from Samui. Utter devastation. 90% of the businesses on the beach road were closed, and hundreds of hotels are closed and for sale, at half price. Trillions of baht are going to be lost here. Annually. Tourism will NEVER recover. Not in our lifetimes. Too much timidity. Too much cowardice. Too little juice and creativity. Such small minds. The longer they wait, the harder it will be to restore the industry. People have short memories. Thailand was already being forgotten by millions, before Covid, due to a dozen reasons. Now? Too many alternatives. This administration continues to see Thailand as the COTU (center of the universe). Say it ain't so! No humility seem to be getting learned as of now.

 

And now, the few remaining tourists here are being asked to leave? They should be given free visas, and 10,000 baht vouchers to stay! Commendation letters too. And for incoming tourists, free quarantine. All expenses, including meals, picked up by the army, using their multi trillion baht slush fund. Nonsensical stupidity. Lack of science. Fear mongering. Let us make your stay as uncomfortable as possible. And by the way, you cannot consume alcohol either, during your quarantine. Who comes up with this stuff, and why does the nation tolerate the nonsense, the utter incompetence, the malfeasance? How much longer will they tolerate the extremely regressive army? 

 

At some stage, hopefully sooner rather than later, the Thai government will have to re-open its borders and find a way to ‘manage’ the Covid-19 situation rather than remain in a travel bubble of its own making. The longer the government doesn’t re-open to something akin to general tourism, the harder it will be to re-boot the former Thai tourism powerhouse. My prediction, is that when Covid is dead and gone, it will be a very slow recovery. It will take many years. And even ten years from now, I doubt if Thailand will see 20 million tourists a year. The longer they wait, the harder they fall. 
 
 

[rupert the bear]

it really is about time the embassies were involved in this,its blatently trying to gouge money from people based on racism.we are always and constantly being lectured about this in europe and n america but when it happens the people lecturing about it do nothing,the thais should be warned and then the same regs visited upon them,germany could start by showing the world theyre not corrupt and hypocritical,go ask all the illegal immigrants who paid millions to bribe their way in there and others.

[anto]

2 hours ago, Seeall said:

So if you are overseas how do you get a Thai bank statement?

Thats the least of it .

[Airalee]

14 minutes ago, ukrules said:

That's not the way I read it, they want to see the purchase amount deposited in the bank at some point in the past and it appears to be a filter to keep out the people who bought small / cheap condos.

 

If you've dropped 5 to 15 million on a home then you can show a bank deposit of 5 to 15 million, can't you? They didn't mention a current balance of this amount.....

 

I think this needs some clarification as to whether a deposit 10 years ago of more than 3 million Baht will suffice here, I suspect it will but I could be wrong.

 

I read it as a current balance otherwise there wouldn’t be the option of showing 3 million Baht worth of government bonds.

[Mike Teavee]

1 hour ago, Henryford said:

Yes i can see a big increase in these limits coming soon, 1.5-2 million baht. That should get rid of most of the "poor" dirty farangs.

Not really, it will just push more people to use agents & the agents to increase their fees by a few 1000 THB.

 

If they do increase the limits they'll probably do a similar grandfathering for existing extension holders that they did the last time, trouble is this was a number (can't remember how many) of unbroken extensions and people currently stuck outside of Thailand are going to have to start again so any increase in the next (say) 3-5 years will mean that they're not grandfathered. 

 

 

Have to say that I wouldn't call somebody who can afford to keep at least 3 Million in a Thai account, 1/2 Million in UK account & own (at least one) property financially illiterate, am guessing the majority of people saying this aren't saying so because they're financial wizzkids, but are saying it because they couldn't scrape that amount of money together across all of their investments. 

 

Average savings for people in the UK 

[anto]

40 minutes ago, holy cow cm said:

I just told my kids and wife at the lunch table and their jaws literally dropped. Wife said good way to lose money.

Thai wife ? She has her eye on it already ????

[Guderian]

It's a lot more generous than their earlier scheme insisting you spend at least $1 million on a condo here, lol, but the message is still clear and simple: stay away for now. 

[Airalee]

4 minutes ago, Mike Teavee said:

Have to say that I wouldn't call somebody who can afford to keep at least 3 Million in a Thai account, 1/2 Million in UK account & own (at least one) property financially illiterate, am guessing the majority of people saying this aren't saying so because they're financial wizzkids, but are saying it because they couldn't scrape that amount of money together across all of their investments. 

I have the money but just as I wouldn’t keep over $250k in a single account in the US (FDIC limits), I wouldn’t keep much more than ฿1,000,000 in a Thai bank and certainly not ฿3,000,000 when the plan to drop deposit insurance to ฿1,000,000 goes into effect next August.  A few hundred thousand baht over...ok...but 2 million...nope.

[madmen]

As mentioned above they want to see govt bonds as an option so that 3 mill is needed in cash deposit and not for valuations.. 

Edited October 10, 2020 by madmen

[riclag]

 I could swing this if I was  a victim of these ridiculous requirements !  This covid related requirement ,supports the harm this is doing financially ! 

 

What greed,a forced 3 mill in a thai bank! Falangs already invest in condos! Very sad to kick a man when they are down imop

[Pattaya Spotter]

3 hours ago, Pottinger said:

Farookin' ridiculous! Three million Baht earning 0.1% in a Thai bank plus another half million doing nothing in your home country - just how anxious do they think people are?

Expect a lot more condos to come up for sale.

Anybody with anything good in Pattaya can PM me.

[Don Mega]

2 hours ago, 2 is 1 said:

 Hmm... if i have condo in Thailand , i can get back!

I only need to:

-get my condo papers (dam it those in Thailand)

-Move little money to Thai bank (3 million bth)

-Move almost 14k € my using account(wait half year)

-Get covid test

-Get fit to fly 

-get insurance for 100k $

-book sheap ASQ hotel(stuck there 14-15 days)

-book flight (?)

Not much, then im back and live happily ever after! 

Tam sabai

 

 

 

Many whinging they cannot return, Thai authorities have come up with a way for them to do so.

 

Kudo's to them.

[Pattaya Spotter]

3 hours ago, madmen said:

So punters drop eg 5 to 15 million baht on a home and now need to show 3 million to use it

 

Sounds fair 

More like 3-5M for most...if they've spend more for their housing then they can surely meet the financial requirements to return at this time.

Edited October 10, 2020 by Pattaya Spotter

[transam]

1 minute ago, Don Mega said:

 

Many whinging they cannot return, Thai authorities have come up with a way for them to do so.

 

Kudo's to them.

Yeh ?....Typical Thai, move the goal posts, show us more wonga......????

[Don Mega]

1 minute ago, transam said:

Yeh ?....Typical Thai, move the goal posts, show us more wonga......????

What goal posts did they move  ?

[AlfHuy]

6 minutes ago, Pattaya Spotter said:

Anybody with anything good in Pattaya can PM me.

Me.

 

Mansion in perfect condition (kind off). Seaview (about 27km away)

Be quick, enquiries coming from everywhere.

Bargain sale: only 56 million baht

 

Genuine reason for selling.

[crazykopite]

Stay away your not wanted that’s the clear message that I’m reading . When I came to Thailand 14 years ago I was aware that things could go belly up but I took a gamble Yes that gamble could cost me 200k if I have to leave but I will bulldoze my property and just leave it as rubble if that’s my only choice .

[DrTuner]

That's blackmail. As in "put 3M into Thai account where they'll then deny remitting it back or let somchai invade your property".

[bkk6060]

 

3 minutes ago, Pattaya Spotter said:

More like 3-5M for most...if they're spending more for their housing then they can surely meet the requirements to return at this time if they want to.

Exactly.

They bought a condo in Pattaya and are smarter and wealthier then the dumb renters.

The requirements should be easy street.

[transam]

Just now, Don Mega said:

What goal posts did they move  ?

What has more "shown" money got to do with a foreign bloke coming back to his condo in LOS, I thought this was about NOT bringing C19 into LOS....?

[jlwilliamsjr18]

Key Words here: "now able to apply to return to the country"

Good luck.

[Grumpy John]

Seems like that plan is to screw you over in a big way or keep you out.   And if you do do it how long do you have to keep your 3 million in their dodgy bank? 

[AlfHuy]

1 minute ago, Grumpy John said:

Seems like that plan is to screw you over in a big way or keep you out.   And if you do do it how long do you have to keep your 3 million in their dodgy bank? 

Until your wife has spent it.

Go back to START and all over again.

[bkk6060]

2 minutes ago, Grumpy John said:

And if you do do it how long do you have to keep your 3 million in their dodgy bank? 

Maybe forever..

[transam]

1 minute ago, Don Mega said:

What goal posts did they move  ?

Money......????