Foreign property owners now allowed to return to Thailand

[poohy]

2 minutes ago, Jimbo53 said:

Apart from Covid certification and the required testing etc,why should there be any change to the financial requirements already in place for expats on a retirement extension? 

TIT.

Being sane and sensible will get you nowhere here sir!

[holy cow cm]

2 minutes ago, Pattaya Spotter said:

I agree they do seem to be chasing their tails...but don't think it has anything to do with race. 

I sort of do. Kind of reminds me of a cleansing under a guise.

[alianware]

34 minutes ago, high plane drifter said:

I would never think that would come to that point...

Someone is really distroing the tourism industry,,,

 

 

yeah,, someone who doesn't like foreigners. I have heard this long time ago before covig 19. If i'm not wrong,  It was an issue with someone, who has close relationship with the thai army before. The prime minister chan o cha ???

Edited October 10, 2020 by alianware

[Pattaya Spotter]

1 hour ago, transam said:

And those who don't have the extra cash....?

They will have to wait.

[alianware]

3 minutes ago, holy cow cm said:

I sort of do. Kind of reminds me of a cleansing under a guise.

this is a modern racist. Someone in the committee , who has big position and doesn't like foreigner !

[hrrecruiter]

3 hours ago, Pattaya Spotter said:

Anybody with anything good in Pattaya can PM me.

Which website sells farang owned real estate? Any specific Facebook groups? 

[Jimbo53]

55 minutes ago, OnTheRun said:

Agreed, I've stopped getting my salary paid into Thailand and will just live off what I've salted away over the last decade or so. I have a condo which I'll sell if the price is right, if not it's a holiday home for use if and when I feel like visiting. I left Phuket 12 years ago, after 6 years basing myself there, because of the greed and general rip off culture that was steadily building up. I now feel the same about the whole country, for the first time in almost 20 years I'm seeking pastures new.

Vote with your feet..i did,and all the happier for it,not having to put up with the daily BS that spews out of Bangkok.

[Jimbo53]

8 minutes ago, poohy said:

Being sane and sensible will get you nowhere here sir!

It did..it got me out of Thailand.

[Pattaya Spotter]

1 hour ago, Banana7 said:

Sounds like the Thai banks are running low on cash and so is the government. Recently they raised the deposit insurance to 5 million on THB savings accounts, but only temporarily. The banks are holding onto lots of none performing loans, and assets, like repossessed cars, houses, land, at values that are far too high in the current market.

 

During the last financial crash, 2008/09, dozens of Western banks and financial institutions went bust or needed government bailouts...none in Thailand. I'd be more worried about having funds in over-leveraged Western banks than Thai ones.

[morrobay]

Any estimates on the numbers of foreigners this is going to apply to? Seems only a few months window that foreigners would have been caught out on. Not that many of the total here.

[AlfHuy]

3 minutes ago, Pattaya Spotter said:

During the last financial crash, 2008/09, dozens of Western banks and financial institutions went bust or needed government bailouts...none in Thailand. I'd be more worried about having funds in over-leveraged Western banks than Thai ones.

are you not working today?

Right, it's weekend. Your uniform is just being at the cleaner for Monday morning.

[Pattaya Spotter]

1 hour ago, holy cow cm said:

It will be used by the bank and one of my main banks is state owned. Look at who has shares in these banks and who can manipulate and use them as a tool. Don't kid yourself that this money will not be used in one way or the other by the you know who.

All banks are creatures of the governments that charter them and the central banks that regulate them. If you feel this way, better keep your money under the mattress or in gold.

[Pattaya Spotter]

1 hour ago, Jomtien Beach said:

You become less infected if you have 3 million in one account. Is it time to sell a condo and move to another warm country?

I don't think that's what they're saying because they still have to quarantine and meet all the other requirements of all the other returnees who don't require 3M.

[nomad2019]

I fear there is no democracy anymore not only in Thailand but in the world.      Just why is a Thai land governor making it so hard for foreigners to enter the country but easier for the Chinese,      why.

 my ex Thai wife here in the UK will not be able to enter Thailand even if any family member dies in Thailand I don't think she can go back it is breaking her heart because she has family members who are not very well and elderly.      Surely the government should have the heart to let their own people return to spend some time with her beloved family members

[whitfield]

I think people are misunderstanding the 3 million baht deposit.  This money must have been deposited at some time in order to purchase said property.  It doesn't need to be there now, they just need to show that it was there when they completed the purchase.  Just a case of poor translation.

[DJ54]

I’m currently in country another 10 months on extension.. .. but

it does make thing what’s next in the future...

[Pattaya Spotter]

2 hours ago, realfunster said:

Seems to me they are offering the option to those interested and rich enough to make these investments in order that they will be allowed into the promised holy CoVid-free land.

 

Could be...seems a reasonable (temporary) policy to me.

[Airalee]

10 minutes ago, Pattaya Spotter said:

During the last financial crash, 2008/09, dozens of Western banks and financial institutions went bust or needed government bailouts...none in Thailand. I'd be more worried about having funds in over-leveraged Western banks than Thai ones.

During the last financial crash, in the US, they raised the FDIC limits from $100k to $250k.  I slept safe and sound.  Here, it is the opposite...they lower the deposit insurance while requiring foreigners to deposit 3x the sum of said insurance.  The loans (mortgages) the banks have written (well over 100% LTV, negatively amortizing mortgages, adjustable rates) put the banks in very precarious positions.  
 

I’m sorry you have such a hard time understanding that.

[jchfriis]

Tomorrow's news: Thailand will build a beautiful wall to keep all the horrible foreigners out and the EU and USA will pay for it.

 

I feel so happy that I managed to sell everything but my bike and left Thailand i March.

[Ratcher]

A lot of people imo are getting unduly worried. This latest scheme will shrivel on the vine. A few thousand super rich tourists / house holders will never ever replace the millions of tourists than normally come here. Phuket, Pattaya and other places are on their knees. Many thousands of Thais unemployed. The penny will drop sooner or later and the borders will be open. They may tweak the 400 or 800k for retirees in future but I cannot see a big increase. A lot of expats on this forum get paranoid. Best just to sit it out and not to speculate too much. It will sort itself eventually. 

[kuzmabruk]

6 hours ago, JusticeGB said:

So people who are financial nit wits leaving huge amounts of money in bank accounts earning no money coming from a country with high covid19 rates are more welcome in Thailand than people who have retirement Visas but spend money in Thailand with the smaller Thai businesses. 

Not sure where all you financial gurus are keeping your liquid assets, but in Canada at the Bank of Montreal for deposits under $250,000 (approx 5m baht) the interest rate is 0.05%.  In Thailand at SCB for deposits less than 10m the interest rate is 0.25% - fives times that of Canada.   Thailand is not a bad place to keep some funds.   Not sure about the UK requirement though.  Seems any non-Thai bank should suffice.  

[DLock]

4 minutes ago, whitfield said:

I think people are misunderstanding the 3 million baht deposit.  This money must have been deposited at some time in order to purchase said property.  It doesn't need to be there now, they just need to show that it was there when they completed the purchase.  Just a case of poor translation.

That makes a lot more sense...and I hope you are correct.

 

But this Government are really not that bright...so it would not be surprising if it's not.

[Kelsall]

6 hours ago, AbeNormal said:

They are from S'Korea and have been arriving since last month

 

What's the background on this?  Today I saw two Korean looking tourists in CM.

[Yorkshire Tea]

7 minutes ago, whitfield said:

I think people are misunderstanding the 3 million baht deposit.  This money must have been deposited at some time in order to purchase said property.  It doesn't need to be there now, they just need to show that it was there when they completed the purchase.  Just a case of poor translation.

Why 3 million?  15 years ago or more, it would be hard to find a condo in Chiang Mai at such a high price.

[whitfield]

2 minutes ago, Yorkshire Tea said:

Why 3 million?  15 years ago or more, it would be hard to find a condo in Chiang Mai at such a high price.

Well of course that's the bit they didn't think through, people who bought 15 - 20 years ago, but it does show they only want the well heeled.

[Airalee]

14 minutes ago, whitfield said:

I think people are misunderstanding the 3 million baht deposit.  This money must have been deposited at some time in order to purchase said property.  It doesn't need to be there now, they just need to show that it was there when they completed the purchase.  Just a case of poor translation.

Show me the correct translation please

[newnative]

Totally nuts!!!  The only requirement should be the 14 day quarantine.  They should be begging these people to return and welcoming them with open arms.  Brain-dead.  

[Airalee]

9 minutes ago, kuzmabruk said:

Not sure where all you financial gurus are keeping your liquid assets, but in Canada at the Bank of Montreal for deposits under $250,000 (approx 5m baht) the interest rate is 0.05%.  In Thailand at SCB for deposits less than 10m the interest rate is 0.25% - fives times that of Canada.   Thailand is not a bad place to keep some funds.   Not sure about the UK requirement though.  Seems any non-Thai bank should suffice.  

It’s not about the interest rates...it’s about the deposit insurance for me.  1m coverage for a 3m required deposit.  I’d rather get 0% interest and be insured.  

[alianware]

20 minutes ago, whitfield said:

I think people are misunderstanding the 3 million baht deposit.  This money must have been deposited at some time in order to purchase said property.  It doesn't need to be there now, they just need to show that it was there when they completed the purchase.  Just a case of poor translation.

really ?? Why do they hiring such people idiot for an important issue ?? There are a lot talented people actually ! 

[BritManToo]

7 hours ago, NorthernRyland said:

Seriously 3 million baht? This is no way to treat people who own condos. I wish sometimes we could do this <deleted> to the Thais that live in our countries. Maybe they would learn something in the process.

If you were daft enough to pay 3Mbht for a condo in a 3rd world country with an unstable government, and no right to enter or stay in the country, you deserve all you get. (Which in this case appears to be nothing)