Are Thai Retirement Visa Requirements Changing

[ubonjoe]

3 hours ago, david555 said:

So...say never ever again it could become ???? So last time waugmenting was...., i believe in 2008 ..... so more than 12 years ago ....

It was changed to 800k baht and 65k baht income in 2003. Marriage was changed from 250k baht and 25k baht income to the 400k baht and 40 baht amounts in the same year.

Those that were on extensions of stay based upon retirement in 1998 were grandfathered to the amount show in every immigration order since then.

[david555]

3 hours ago, ubonjoe said:

It was changed to 800k baht and 65k baht income in 2003. Marriage was changed from 250k baht and 25k baht income to the 400k baht and 40 baht amounts in the same year.

Those that were on extensions of stay based upon retirement in 1998 were grandfathered to the amount show in every immigration order since then.

I was only referring to the simple lump sum of money for ret.ext. of course you are correct & complete  as always UBJ   by referring to ANY changes .

 

Just pointing out the 800K is already a long time a goalpost 

[DUNROAMIN]

On 11/9/2021 at 10:12 AM, tonray said:

It most certainly was a cut and paste error on the site....but.....it would certainly not surprise me in the least if over the next year or so Thailand does increase the requirements as all they keep saying is they want to attract the well heeled (and in unwritten speak that means forcing out the rest of us by default)

That will mean nobody will retire in Thailand. Thailand is well know for putting the mouth into gear before engaging the brain.        

[Pedrogaz]

What do we know about the requirements of a Thai visa?

1) they, like planets and meteors, are in constant motion.

2) they are arbitrary and at the discretion of the person dealing with you

3) 65,000 is not an adequate income in rural Thailand, let alone a city. If you only have $2200 a month, stay home.

4) all changes mean more meaningless hoops to jump through and more paper copies to deliver to people that never, ever look in the mountains of files.

5) If they increase the financial requirements, fewer people will come to Thailand,

 

It is difficult to see how Thailand will get out of this mess. Why don't they clean the place up and make it nice for tourists? Why do the restaurants have cheap plastic table covers and high quality plastic chairs? Why are the beaches full of trash? Why do excrement and rats come out of the sewers in Pattaya when it rains? Are sewers so new and hi-tech that they are impossible to maintain? etc etc.

 

The last thing we need is a country full of (horny) single male Indians drinking a coke with 5 straws.

 

[BusyB]

'Cogent' ?

 

[roobaa01]

Gday

 

1. Non-oa converting to extension of stay based on retirement will face imo 3 million baht insurance or 3 million in the Bank. 

 

2. Non-OS /multiple converting to extension of stay based on retirement will face imo 400k ipd/40k opd insurance plus 800 k in the Bank or thb 1.2 to 1.5 mil. In

The Bank only.

 

3. Non-os/multiple converting to extension of thai married to a thai will face nothing or caring for their thai children.

 

Wbr

Roobaa01

[Olmate]

4 minutes ago, Pedrogaz said:

What do we know about the requirements of a Thai visa?

1) they, like planets and meteors, are in constant motion.

2) they are arbitrary and at the discretion of the person dealing with you

3) 65,000 is not an adequate income in rural Thailand, let alone a city. If you only have $2200 a month, stay home.

4) all changes mean more meaningless hoops to jump through and more paper copies to deliver to people that never, ever look in the mountains of files.

5) If they increase the financial requirements, fewer people will come to Thailand,

 

It is difficult to see how Thailand will get out of this mess. Why don't they clean the place up and make it nice for tourists? Why do the restaurants have cheap plastic table covers and high quality plastic chairs? Why are the beaches full of trash? Why do excrement and rats come out of the sewers in Pattaya when it rains? Are sewers so new and hi-tech that they are impossible to maintain? etc etc.

 

The last thing we need is a country full of (horny) single male Indians drinking a coke with 5 straws.

 

My agent/visa cost is 50baht per day.. 40k bahtmonth is enough for my own coke and straw! 

[ubonjoe]

22 minutes ago, roobaa01 said:

1. Non-oa converting to extension of stay based on retirement will face imo 3 million baht insurance or 3 million in the Bank. 

2. Non-OS /multiple converting to extension of stay based on retirement will face imo 400k ipd/40k opd insurance plus 800 k in the Bank or thb 1.2 to 1.5 mil. In

The Bank only.

3. Non-os/multiple converting to extension of thai married to a thai will face nothing or caring for their thai children.

1. Not until September 1st of 2022.

2. There have been no changes and there will not be any.

3. It will still be 400k baht in a Thai bank or 40k baht.

[BusyB]

This guy is a lawyer and refers to 'retirement visas', which we all know is the incorrect term.

[wwest5829]

On 11/9/2021 at 10:34 AM, grain said:

I've been expecting the financial requirements to be increased for the past couple of years, and it won't surprise me one bit to see them go up next year. My guess is 1.2 mill will become the new requirement, possibly 1.5 mill, but unlikely to be more than that. Of course this is just my hunch. Medical insurance also seems to be something they are inching towards as a requirement for all foreigners. And if so this will spell the end for many aged retirees, me included, who won't be able to get, or afford, medical insurance. Now's the time to be putting some thought to preparing a Plan B.

My crystal ball is blurry but … it would be consistent with Thai thinking. Fewer customers? OK, raise the price …

[wwest5829]

18 hours ago, Boyn said:

The more i read on this site the more im thinking that retiring to LOS is a bad idea.

But the missus wants to go home and it is a country ive loved for over 30 years so what do i do?

 

Currently, still alternatives. Marriage Visa ?

[wwest5829]

10 hours ago, Peterw42 said:

To be clear, the 1.2m figure is equivalent money in a home country account, to get an OA from home country.

This figure (in home currency) can vary a lot due to exchange rates.

in the last couple of years, 800k has been as low as $25k US and as high as $30k US. 

The 1.2 is probably just to cover exchange variations as the baht is 10% down from where it used to be.

 

I did establish my financial ability for the original O-A by submitting documents of my retirement account in the US. There is no way I am withdrawing my invested retirement funds to park them in a Thai bank. Non starter …

[DrJack54]

4 minutes ago, wwest5829 said:

I did establish my financial ability for the original O-A by submitting documents of my retirement account in the US. There is no way I am withdrawing my invested retirement funds to park them in a Thai bank. Non starter …

Obtain extensions using monthly income method or money in the bank method or buy a PE 

OR go home to the states.

Don't moan about options, you have them.

[khunPer]

To my knowledge, the last two times when the bank deposit were changed from 200,000 baht to 400,000 baht, and then from 400,000 baht to 800,000 baht, those already staying on annual extension based on retirement were "grandfathered", so they could keep their extension of stay alive based on the original conditions. i.e. bank deposits of 200,000 baht or 400,000 baht, even when new arrivals needed the present rate of 800,000 baht as deposit.

[ubonjoe]

17 minutes ago, khunPer said:

To my knowledge, the last two times when the bank deposit were changed from 200,000 baht to 400,000 baht, and then from 400,000 baht to 800,000 baht, those already staying on annual extension based on retirement were "grandfathered", so they could keep their extension of stay alive based on the original conditions. i.e. bank deposits of 200,000 baht or 400,000 baht, even when new arrivals needed the present rate of 800,000 baht as deposit.

That was mentioned earlier. I was raised to form 600k baht to 800k baht in 2003.

 

3 hours ago, ubonjoe said:

It was changed to 800k baht and 65k baht income in 2003. Marriage was changed from 250k baht and 25k baht income to the 400k baht and 40 baht amounts in the same year.

Those that were on extensions of stay based upon retirement in 1998 were grandfathered to the amount show in every immigration order since then.

This from clause 2.22 of the current  immigration order for extensions based upon retirement that has been in all the orders since 1998.

 

 

[Surasak]

Obviously some one with a mouth and no brain. They are obviously trying to scare people. When the Thai government see this nonsense they would do everyone a favour by disowning it, or is it perhaps, to encourage the government to make it more difficult for foreigners to stay?

There is far to much of this kind of claptrap posted on Asean Now and should be ignored. 

[bokningar]

15 hours ago, Jingthing said:

Not true but using multiple accounts and/or banks complicates things and officers like things to be simpler.

At least they want it to be simple for them.

Not sure every one visiting them for different reasons, would say they try to make it simpler for them.

[wwest5829]

1 hour ago, DrJack54 said:

Obtain extensions using monthly income method or money in the bank method or buy a PE 

OR go home to the states.

Don't moan about options, you have them.

Personally, I have used the monthly income method for the past decade. Which does not limit my expressing my view on a requirement which would affect others and is shortsighted. as a policy.

[DrJack54]

13 minutes ago, wwest5829 said:

Personally, I have used the monthly income method for the past decade. Which does not limit my expressing my view on a requirement which would affect others and is shortsighted. as a policy.

And others can also use monthly income method for retirement so no problem.

BTW which requirement are you referring to that is shortsighted? 

[HappyGoLuckyLife]

1 hour ago, Surasak said:

There is far to much of this kind of claptrap posted on Asean Now and should be ignored. 

As the OP, my attempt isn't to scare monger, but to foster conversation about the possibilities of this being implemented and the future implications of this alleged proposed change.

[kennw]

On 11/9/2021 at 10:26 AM, Robin said:

For me, here on a retirement visa for some years, these new insurance requirements for Thailand Pass, mean the end of Thailand as a retirement country.

I want to retire to somewhere that I can travel from as I want, and Thailand has ceased to be this place.

I am here on a Non"O" visa, so for the moment I can stay with no Insurance required, but for how long?  Will the Junta, having closed Thailand for new retirees, soon start closing the loopholes like Non O for excising retirees?

Looking elsewhere on this Forum, I have seen a recommended health insurance policy (from WR)  which quotes me $2277 annually for the cover that Thailand now wants.   So basically this is added to the cost of living, retired, in Thailand.  Throw in the suggested 1.2M Baht in the bank, and thsi will be the end of Thailand as a retirement destination.  If I cannot travel back to my home country (UK) at least once a year, i do not really want to be here..

Am I the only person who feels like this?

No you are not the only one. Actually it rises with age so US$ 12,000 per year. Why is the self insure option not offered. Sorry stupid question $$$$$$$$. 

[DrJack54]

20 minutes ago, HappyGoLuckyLife said:

As the OP, my attempt isn't to scare monger, but to foster conversation about the possibilities of this being implemented and the future implications of this alleged proposed change.

Which in other words..... Scaremonger.

[Lite Beer]

4 hours ago, Pedrogaz said:

 

3) 65,000 is not an adequate income in rural Thailand, let alone a city. If you only have $2200 a month, stay home.

 

 

Of course it is enough

I can only dream of having that monthly income.

30,000 is enough for a good life.

[fgmr]

5 minutes ago, Lite Beer said:

Of course it is enough

I can only dream of having that monthly income.

30,000 is enough for a good life.

Agreed, 30k in a rural settingis enough providing one is  happy to purchase local produce and stay clear of all those usual farang hang outs selling imported food or that produced by other farangs locally. 

When in Rome etc.,

 

 

[EricTh]

17 hours ago, HappyGoLuckyLife said:

I thought the visa requirement funds had to be in a single account?

No, I had 400k in two different banks for my retirement before, the immigration had no issues with it.

 

Just the trouble of getting two bank statements.

[EricTh]

If there is a dramatic increase in 'elderly farang' in Thailand, Thailand might raise the financial requirements because they might not want too many retirees , I think....

 

Has the number increased or decreased during the past 5 years?

 

It would be good to know the statistics.

Edited November 10, 2021 by EricTh

[DrJack54]

26 minutes ago, EricTh said:

Just the trouble of getting two bank statements.

Not sure if you mean bank letter.

My bank does the 2 accounts on one letter. Cost 100baht.

Edited November 10, 2021 by DrJack54

[david555]

2 minutes ago, DrJack54 said:

Not sure if you mean bank letter.

My bank does the 2 accounts on one letter. Cost 100baht.

Even the bank letters for same purpose are not same by Kasikorn seems  , as mine is totally different layout ..... yes  T.I.T ????

[CH1961]

18 hours ago, Jingthing said:

The problem is the VISA SYSTEM. 

No problem at all. 

For retirement you can choose:

Non O-A with insurance

Non O without

Elite Visa

 

But you are right, if you have no money, you will have a problem. 

But this is not Thailands fault. 

 

Edited November 10, 2021 by CH1961
typo

[Jingthing]

12 minutes ago, CH1961 said:

No problem at all. 

For retirement you can choose:

Non O-A with insurance

Non O without

Elite Visa

 

But you are right, if you have no money, you will have a problem. 

But this is not Thailands fault. 

 

Are you retired here and if so for how many years?