11 minutes ago, Bradmeister said:

Again with  "Foreigners", not a resident, not a tax payer, not a man...  but "Them"!!!!

 

Part of the problem, let's be part of the solution. 

 

Good for him! 

 

400k @ 8.0 % in an off shore bank or decent annuity is a little over 30000 baht per year.  No one here wants to lose money by being forced to do so, because its allegedly the law!

 

Why should this man lose the potential of earnings by keeping money in a Thai Bank?  

 

Again, another scam/scheme that continues to disuade people from spending they're hard earned life savings in Thailand. 

 

It would behoove us all to have this law modified ASAP

 

For all we know his mortgage is 40k baht per month and lives on a yacht with a wealthy 

Chinese woman enjoying they're lives  

 

For all we know he is a wiser man that finally is fed up and frustrated with losing money and is throwing himself into the grinder to see if they deport him or not. More power to him.

 

How about if he, or we should rretain receipt of every purchase we made, every tax we paid from import tax to vat over the past 10 years?

 

Let's say an average retiree spends 500k baht  per year here, for the last 10 years?  It would be financially incompetent of our government to deport him from Thailand.  What,? Because its the law?   

 

Laws are changed, modified, and voided every day, everywhere on the planet.

 

The government expects us to be accountants, bankers, attorneys and law enforcement officers, each and everytime we visit an immigration office.

 

However, we have to pay them by letting the Central Bank of Thailand make interest from our deposits; from our monies?

 

Im not paying to work for the immigration department. Neither should any retiree.

 

Something is not right here folks.

 

Think about it.

 

All (or most) of us here that are retired, are making money on investments we made in the past, so that we could retire to a destination of our free will and simultaneously be financially secure. 

 

Not lose money, by keeping it deposited in a Thai Bank yielding .02 % per year. 

 

In closing, I hope this publication tracks and follows this case of "The retired Man in Phuket who refused to lose money"

 

 

 

 

 

 

Please name an offshore bank that I can get 8% interest.

As for the rest of your post, I can see you have a lively imagination.

 

You go on about paying VAT and import tax, which everyone pays, even real tax-payers that pay it on top of their income and other taxes.

Do you pay for the use of roads, lighting, drainage and a myriad of other things that come from real tax-payers? No, you don't.

Many people who have lived in Thailand for years still do not understand how it all works. This is not Britain nor the US, Australia, etc. Yes, there is corruption here, just as in your country. No country is free of it. The difference is that in Thailand it is more overt. However, in my opinion, less of a burden on my retirement funds than paying all the extra taxes, high wages, permits, licenses, bribes, etc. that feed elected officials elsewhere.

Why do you think jobs here in public service, police or armed services are so sought after when the pay can be very low? It's not just the power, nor the uniform adorned with trinkets, it's the potential to become wealthy from extras. There is long established systemic supply lines to channel illicit funds up the chain to the very top.

The Thais are very proud and stubborn people, they live by their own system and are not going to change  just because some alien is incensed by a perceived unfairness. They wont even notice it! (TM28 a possible exception) I too hate locking up a relatively large sum in a non performing bank account, but regard it as the cost of my ticket to live here in retirement. It's not forfeit forever, but accessible when circumstances change (deportation, death).

As I understand it, senior Immigration Officers here have discretionary powers in decision making. It is not illegal for them to go outside legislated criteria, but to do so for bribe money probably is. There is a reason for the layers between the client and the decision maker.

If you need to, make use of the system as it is. Bleating on TVF is not going to make a difference.

18 hours ago, foreverlomsak said:

Not acceptable to some offices the bank book update and the bank letter must be dated on the day you apply, re-iterated by Phetchabun Immigration yesterday when I went to get their custom TM7 form and the other 4 Immigration supporting documents that I require to complete and submit for "Retirement", before I even get to copies of all passport and bank book pages and of course the bank letter.

This is the same in Trat, and for those living on Koh Chang no leeway is given even though you must take the ferry which now runs only once every 2 hrs. after the visit to your bank if you are lucky you might get the 11am ferry arriving at I.O at lunch time. One could get an earlier ferry 9am drive into Trat to your bank there, as immigration suggested to me, passing close to I.O on the way and after waiting for the bank arrive at I.O. about the same time.

Hey, no money no honey. You know the deal. Come on man.

On 2/24/2021 at 5:47 PM, EricTh said:

If I had known of such rule, I would have applied for the Covid visa instead of putting my money in Thai banks.

 

This is a ridiculous excuse.

Well he should be properly dressed also.

On 2/24/2021 at 1:01 AM, foreverlomsak said:

Not acceptable to some offices the bank book update and the bank letter must be dated on the day you apply, re-iterated by Phetchabun Immigration yesterday when I went to get their custom TM7 form and the other 4 Immigration supporting documents that I require to complete and submit for "Retirement", before I even get to copies of all passport and bank book pages and of course the bank letter.

 

I'm glad I don't live there.  My bank letter can be with three days of my extension. I just update the date and age on the standard forms I've used for years and print them out, along with with the scans of bank book pages and passport stamps.

On 2/24/2021 at 9:31 AM, LazySlipper said:

Dufus

This one is on him... 

I agree you, this one is on him. Why is this even a news story as we are all subject to the same rules.

6 hours ago, KhunG said:

 

I'm glad I don't live there.  My bank letter can be with three days of my extension. I just update the date and age on the standard forms I've used for years and print them out, along with with the scans of bank book pages and passport stamps.

lucky you

The Covid STV visa would need to be renewed every three months at a cost of 2,000 baht?

 

When all of the paperwork and funds are in order an agent is an unneeded, expensive luxury. It sure is nice that they make all of the copies and you just show up at the end of the process to sign paperwork, but it adds up at 3,000/year/person.

On 2/25/2021 at 8:25 AM, Bradmeister said:

Again with  "Foreigners", not a resident, not a tax payer, not a man...  but "Them"!!!!

 

Part of the problem, let's be part of the solution. 

 

Good for him! 

 

400k @ 8.0 % in an off shore bank or decent annuity is a little over 30000 baht per year.  No one here wants to lose money by being forced to do so, because its allegedly the law!

 

Why should this man lose the potential of earnings by keeping money in a Thai Bank?  

 

Again, another scam/scheme that continues to disuade people from spending they're hard earned life savings in Thailand. 

 

It would behoove us all to have this law modified ASAP

 

For all we know his mortgage is 40k baht per month and lives on a yacht with a wealthy 

Chinese woman enjoying they're lives  

 

For all we know he is a wiser man that finally is fed up and frustrated with losing money and is throwing himself into the grinder to see if they deport him or not. More power to him.

 

How about if he, or we should rretain receipt of every purchase we made, every tax we paid from import tax to vat over the past 10 years?

 

Let's say an average retiree spends 500k baht  per year here, for the last 10 years?  It would be financially incompetent of our government to deport him from Thailand.  What,? Because its the law?   

 

Laws are changed, modified, and voided every day, everywhere on the planet.

 

The government expects us to be accountants, bankers, attorneys and law enforcement officers, each and everytime we visit an immigration office.

 

However, we have to pay them by letting the Central Bank of Thailand make interest from our deposits; from our monies?

 

Im not paying to work for the immigration department. Neither should any retiree.

 

Something is not right here folks.

 

Think about it.

 

All (or most) of us here that are retired, are making money on investments we made in the past, so that we could retire to a destination of our free will and simultaneously be financially secure. 

 

Not lose money, by keeping it deposited in a Thai Bank yielding .02 % per year. 

 

In closing, I hope this publication tracks and follows this case of "The retired Man in Phuket who refused to lose money"

 

 

 

 

 

Well said my friend.....

On 2/24/2021 at 9:32 AM, Oldie said:

How legal is it to use an agent to achieve something that cannot be achieved legally? 

Issued Visa = Valid Irrevocable Visa.

Visa Issue Method / Compliance Irrelevant.

Imm = Agents. Issued Visas Never Revoked.