Foreign property owners now allowed to return to Thailand

[harleyclarkey]

One property sold already and can't wait to get rid of the other. 

 

Never, ever again Thailand you really have a hugely inflated opinion of yourselves. You have this misconceived belief that you are the only country in this world with sun and sea?? Think again. 

I'm off and God knows how many others have done/will do the same. 

 

You cultivate and rely far too much on the Chinese....the originators of this appalling pandemic which was wholly avoidable if the same **!@@#* Chinese did not eat bats. 

 

 

 

[Harry Fingerling]

Can you smell that? Distinct smell of Bulls**t.

[raccos21]

I assume that all the property owners will regret buying their property in Thailand. Maybe they will try to sell all their property now after they read the requirements from the government This is insanely ridiculous.
“Amazing Thailand.”

[aussiexpat]

Is this even real news? I couldn't see any mention of this on the embassy link provided in the OP 

 

If real, why would anyone over 50 apply as a condo owner when you can get an O-A visa that requires 800k baht equivalence in your own country bank account rather than 3 million baht in Thailand

[Pattaya Spotter]

2 hours ago, PEE TEE said:

Get ready for overcrowded airports as they come in drones NOT i can't come myself as i only have a lease for 25 years but the  rest ... i do not have anyway  i'm sure at 72 years old i will be able to get a very cheap insurance policy meeting the requirements... NOT 

My 78 y/o friend got his $ 100k Covid policy for about $500; and is returning from the USA in a couple weeks. There is information on where to buy these policies on this forum.

[DanielS]

7 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. 

Yes, the money is for Covid19 treatment in Thailand

[Airalee]

12 minutes ago, aussiexpat said:

Is this even real news? I couldn't see any mention of this on the embassy link provided in the OP 

 

If real, why would anyone over 50 apply as a condo owner when you can get an O-A visa that requires 800k baht equivalence in your own country bank account rather than 3 million baht in Thailand

https://london.thaiembassy.org/en/publicservice/119247-requirements-for-certificate-of-entry-during-travel-restriction?page=5d6636cd15e39c3bd00072dd&menu=5f4b6eb3f6ae4b236972c562
 

 

[Pattaya Spotter]

2 hours ago, Airalee said:

That’s exactly the point.  If they want to set it at 3M baht fine.  I would gladly move 3M baht to an account just to hedge exchange rates...but not when the deposit insurance is being lowered to 2M baht. 
 

Of course, the big shot with the avatar of a car that is more befitting of an Alabama trailer park loves to paint any and all of us who question that 3M baht requirement as being “broke Farangs”.  

I don't have any concerns about the health of the Thai financial sector, and if one did, the money could always be put in one of the government owned banks or one of the top 5 private banks. They are all "too big to fail" as the saying goes, and one of the private banks has substantial holdings by the Crown Property Bureau so is unlikely to be allowed to go under for that reason as well. The 3M figure does seem a bit over the top and I wonder how they arrived at this figure or if they just pulled it out of the air.

Edited October 10, 2020 by Pattaya Spotter

[Airalee]

6 minutes ago, Pattaya Spotter said:

I don't have any concerns about the health of the Thai financial sector, and if one did, the money could always be put in one of the government owned banks or one of the top 5 private banks. They are all "too big to fail" as the saying goes and one of the private banks has, let's just say, "yellow" shareholders and would also not be allowed to fail for that reason. The 3M figure does seem a bit over the top and I wonder how they arrived at this figure or if they just pulled it out of the air.

If they are “too big to fail” then why not keep the deposit insurance at 5M instead of lowering it to 1M?

 

Bear Stearns and Lehman Brothers were also “too big to fail” 

[bwpage3]

3 hours ago, Pattaya Spotter said:

So when entries return to normal, is that also "mov[ing] the goal posts"?

How do you define normal?

 

The answer is you don't.

 

You don't have a clue what the future regulations will be.

 

One change in the political winds and things can go from bad to even worse.

 

The thing about living in the third world is you just never know and if you think you do, well, you don't.

 

Lots of bull******* on this forum.

 

Do you really think rich people would be living in a condo in Pattaya?

 

The Thai government can change the rules at any time anyway they want.

 

That is the reality.

 

 

 

 

[Pattaya Spotter]

2 hours ago, rayjed2 said:

As soon as the borders open in Cambodia or Philippines, I suggest all the single Ex-pats relocate to them. A visa for Cambodia for 1 year is $280, renewable every year and forever.

Philippines, renew every 6 months. Check it out for yourselves.

I would never ever go back to Thailand, there are other Countries that you can live without all the hurdles they have and will in the future.

They've all gone already...but they still keep posting on THAI Visa forum...go figure? 

[Seeall]

1 hour ago, MRToMRT said:

I would love to know what's behind all these hurdles. They seem to be getting more and more ridiculous. One has to wonder what the ultimate play is. Is it just a way of limiting applications or is there an end game in their sights. Is immigration going to get more and more difficult in the future?

When their salary budget goes down and they get laid off.... then we will really see the rabbits come out of the hats...

[Pattaya Spotter]

2 hours ago, Tambs2020 said:

We feel for all those who this affects.

 

glad we chose to give up the “Dream” And Stay lifewise in Australia.

 

we have the farm etc but there is no chance that even my wife will go back unfortunately ????

good luck and god speed fellas !

 

 

Enjoy Australia...where you need government permission to enter or exit the country and travel between states isn't allowed. I'll enjoy the Thai Dream, where 2 out of those 3 are allowed (as well as indoor dining).

[khunpa]

Quite crazy rules, since getting an Elite Visa would be much easier.

 

Anyway, let time pass and the economy sink more. At some point they might wake up and realize the country is starving and needs income from outside.

 

Happy I am not in the real estate business.

Edited October 10, 2020 by khunpa

[redwood1]

53 minutes ago, Ratcher said:

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. 

Look up the word Trend.......Once a Trend is set in motion, that Trend will continue until the trend reverses.......Back in 2008 or 2009 the Trend towards visa tightening started with the 30 day border runners......And ever since then the Trend has been towards more and more visa tightening....

 

Expats are very justified in being paranoid because the visa tightening Trend shows no signs at all of reversing course.....As a matter of fact it's getting worse....

[James7001]

More madness and impediments to visitors this is not about public safety this is just about money!

Thailand is becoming a laughing stock among the worlds tourists and visitors

[Jen65]

I'm about to go out of the country by necessity to get my personal effects / furniture etc packed and shipped from a house I sold in France in January this year .  Everything including my vehicle I had to put in storage at the time because of limited time available in France at the time and I was scheduled to go back and do this in May !! but then Covid happened !!!   I been advised my furniture and vehicle etc has to be moved otherwise it will be auctioned off so I have no choice but to go out and arrange shipment etc .

My worry is that as a Non Immigrant O-A (retiree) visa holder with valid extension of stay to April next year , I am going to run into problems getting back in November when my shipment due to arrive here and I have to be here to receive it !!!   

I don't have a property or anywhere to stay in Europe or outside Thailand - my home is here along with my partner , my boat, my car and 3 properties I own !!!  Even the newly issued information on foreign property owners being allowed back will defeat me because I don't currently have 3M baht in a bank account although I can show I did transfer a lot more than that to purchase properties !!!   I , like most retirees keep the required 800,000 baht on deposit to cover renewal of the extension but who on earth keeps 3M baht in deposit or other account ???   

This situation promulgated by the Government for people like myself is MAD and very counter-productive !!!   If there is not a change of heart very soon , I and probably many like me , will start to look at the alternative countries to live in - those that are a bit more welcoming and appreciative of the money , business , employment of people and services we bring !!  

If I get stuck outside Thailand unable to return to my home , I shall none to pleased !!!!     

[Pattaya Spotter]

2 hours ago, Airalee said:

Seeing the kind of loans that are written (primarily for overvalued real estate) leads me to believe that they knew long in advance that it would all blow up.  It’s no different than Goldman Sachs shorting the same CDOs they were selling.  The banks will fail...and of course...nobody could see it coming.

 

 

Big difference between banks, like BoA and Chase, and investment banks like Bear Stearns but it would take too long to explain. Suffice it to say there's a reason Goldman switched from the latter to the former in the midst of that last financial panic.

[ukrules]

1 hour 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's what I think too, everyone's getting it hilariously wrong on this one, apart from you.

[Time to grow]

7 hours ago, steelepulse said:

Good luck luring anyone back on these terms

Clearly, their not attempting to lure anyone back.

[thurien]

just another crude gimmick...

[ukrules]

35 minutes ago, Airalee said:

https://london.thaiembassy.org/en/publicservice/119247-requirements-for-certificate-of-entry-during-travel-restriction?page=5d6636cd15e39c3bd00072dd&menu=5f4b6eb3f6ae4b236972c562
 

 

Doesn't mention balance does it......do everyone think they don't know what the word balance means and accidentally wrote 'deposit' instead?

 

I suspect the intent was 'previous deposit' / 'prior deposit'...essentially referring to the money transferred when you first purchased your apartment.

 

 

 

Edited October 10, 2020 by ukrules

[Pattaya Spotter]

2 hours ago, Lacessit said:

AFAIK rich people don't get rich by being morons. The Thai government seems to think Thailand is so attractive to the wealthy they will be willing to undergo a financial lobotomy.

Having 3M baht is "rich." This proposal appears to be aimed at people who have substantial business or real property assets in Thailand and want to return, and for whom 3M in a bank would not be an exorbitant amount. It's not aimed at the retiree with a studio condo somewhere in Thailand. 

[Yorkshire Tea]

2 minutes ago, ukrules said:

Doesn't mention balance does it......do everyone think they don't know what the word balance means and accidentally wrote 'deposit' instead?

Look at the line below that.  "Deposit" of 500,000 bt or equivalent in UK bank. 

[Airalee]

10 minutes ago, Pattaya Spotter said:

Big difference between banks, like BoA and Chase, and investment banks like Bear Stearns but it would take too long to explain. Suffice it to say there's a reason Goldman switched from the latter to the former in the midst of that last financial panic.

I understand the difference and also understand why Goldman switched from the latter to the former.

 

WaMu had triple the assets of Bangkok bank.  A bank is only TBTF until it isn’t.  

 

once again....if they REQUIRE a 3 million baht deposit yet only provide insurance for 1 million....no thanks.

[Thaiophil]

If over 50 and with bank balance of £20000 people can apply for an O-A visa instead. The only expensive part is the compulsory Thai health insurance. 

[Pattaya Spotter]

56 minutes ago, harleyclarkey said:

One property sold already and can't wait to get rid of the other. 

 

Never, ever again Thailand you really have a hugely inflated opinion of yourselves. You have this misconceived belief that you are the only country in this world with sun and sea?? Think again. 

I'm off and God knows how many others have done/will do the same. 

 

You cultivate and rely far too much on the Chinese....the originators of this appalling pandemic which was wholly avoidable if the same **!@@#* Chinese did not eat bats. 

 

 

 

One less racist in Thailand can't be a bad thing.

[ukrules]

2 minutes ago, Yorkshire Tea said:

Look at the line below that.  "Deposit" of 500,000 bt or equivalent in UK bank. 

Yes, good point - it appears it was written by an idiot. I still don't think you need to maintain a current balance of 3 million in Thailand, I guess time will tell on this one.

[BritManToo]

2 hours ago, MRToMRT said:

I would love to know what's behind all these hurdles. They seem to be getting more and more ridiculous. One has to wonder what the ultimate play is. Is it just a way of limiting applications or is there an end game in their sights. Is immigration going to get more and more difficult in the future?

Presumably Immigration staff will soon be facing unemployment.

Staff to handle 40M foreigners a year, and probably less than 1M in the foreseeable future.

Looks like 95% of them are no longer needed, wonder how long the government will want to pay them for doing nothing?

[Airalee]

5 minutes ago, ukrules said:

Doesn't mention balance does it......do everyone think they don't know what the word balance means and accidentally wrote 'deposit' instead?

 

I suspect the intent was 'previous deposit' / 'prior deposit'...essentially referring to the money transferred when you first purchased your apartment.

 

 

 

The amount of “Thaiglish” on embassy websites, government websites, bank websites, etc leads me to believe that no...they don’t know the difference.  Why would they have the option of government bonds?  As usual, Thai announcements are clear as mud.
 

Some official clarification would be nice.