Retirement visa for New Zealander

[Bill Kiwi 68]

I got email from one visa agency saying they would put 800k Baht in bank account for me because I do not have that much.  Is this legit?  Risky for me?

[Onerak]

27 minutes ago, Bill Kiwi 68 said:

I got email from one visa agency saying they would put 800k Baht in bank account for me because I do not have that much.  Is this legit?  Risky for me?

This question has been asked million times. Why you think this would be legit? I want to know the rationality used to conclude that it may be legit. No, there is no risk. Thousands do it every year. The IOs will be bribed and they will earn extra cash because they were not fortunate enough to be born in a Western country to earn dollars. I'm pretty sure if they were born in a western country, they would have earned more and there would be no need to accept bribery money. It also benefits you. You are going to legally stay in Thailand for a mere 15K (in Pattaya) baht every year. 

Edited July 8, 2022 by Onerak

[Bill Kiwi 68]

Thank you Onerak for your candid and patient reply.  On reflection, my question ''is it legit" is pretty naive.  Maybe I will pay the NZ$2300 requested by agency because rents seem cheap in Bangkok compared to Phnom Penh and Cebu.

[aussiexpat]

How is anyone retired without 800,000 baht to meet legal requirements. Maybe keep working?

[Sharp]

Read the Phuket news regarding the use of an agent and the over 100 people who are now in trouble.

I'm not saying they are all the same but there is a risk its illegal but circumvented be many. 

[PeachCH]

In Pattaya many retired falangs are using this easiest way to get their visas. 

[aussiexpat]

I wish someone would withdraw the 800k during the 1 hour the agent fake deposit the funds in your account...throw a nice party ????

[Peterw42]

7 minutes ago, Sharp said:

Read the Phuket news regarding the use of an agent and the over 100 people who are now in trouble.

I'm not saying they are all the same but there is a risk its illegal but circumvented be many. 

The people in Phuket are not in trouble with immigration, or for breaking any rules, doing something illegal. They are in trouble because an agent took their money and did a runner.

No different to buying somethin online and it wasnt delivered. Nobody is questioning or investigating the legalities of the agent use.

Edited July 9, 2022 by Peterw42

[kokopelli]

New Zealanders should be able to get a statement from  their Embassy stating  that their monthly income is equal to 65,000 Baht/month.  Therefore no need to put 800,000 Baht in the bank for retirement extension/visa. Of course you must show the Embassy that you do have that monthly income.  New Zealand is one of the few countries that still are able to use this method.

Edited July 9, 2022 by kokopelli

[DrJack54]

18 minutes ago, kokopelli said:

New Zealand is one of the few countries that still are able to use this method.

Your post makes outlines good option for the kewi.

Just to note it's only UK, USA and AU that stopped the provision of income letter.

There are MANY countries that provide this letter. 

[brianthainess]

9 hours ago, Bill Kiwi 68 said:

Thank you Onerak for your candid and patient reply.  On reflection, my question ''is it legit" is pretty naive.  Maybe I will pay the NZ$2300 requested by agency because rents seem cheap in Bangkok compared to Phnom Penh and Cebu.

52,900 baht !!! while most agents are 15k-20k Jeez

[DrJack54]

6 minutes ago, brianthainess said:

52,900 baht !!! while most agents are 15k-20k Jeez

The OP would require a bank account (most likely) then a non O and finally a 12 month extension.

That should be ~ 30k + 

For annual ongoing extensions then yes 15k reasonable. 

Esp Pattaya agents. 

[Peterw42]

11 minutes ago, brianthainess said:

52,900 baht !!! while most agents are 15k-20k Jeez

Often the first one involves a fee for opening accounts, initial O visa etc, and there are different degrees of services involved, they pick up and drop off passport at your door, do your ongoing 90 days etc.

Edited July 9, 2022 by Peterw42

[aussiexpat]

9 minutes ago, DrJack54 said:

The OP would require a bank account (most likely) then a non O and finally a 12 month extension.

That should be ~ 30k + 

For annual ongoing extensions then yes 15k reasonable. 

Esp Pattaya agents. 

This is what I dont understand, people are apparently too poor to put 800k baht in a bank account but are happy to pay 30-40k baht to do something they could easily do themselves for free

 

I'd rather spend the 30-40k baht on me (or my latest gf)

 

Edited July 9, 2022 by aussiexpat

[DrJack54]

6 minutes ago, aussiexpat said:

I'd rather spend the 30-40k baht on me (or my latest gf)

You could spend more than that by putting 800k into basic investments and paying 15-20k for ongoing extensions to an agent.

It's called opportunity cost 101.

The assumption that folk use an agent because they cannot afford the 800k only applies to some. 

BTW ...I use 800k+ in bank account.

 

[aussiexpat]

15 minutes ago, DrJack54 said:

You could spend more than that by putting 800k into basic investments and paying 15-20k for ongoing extensions to an agent.

It's called opportunity cost 101.

The assumption that folk use an agent because they cannot afford the 800k only applies to some. 

BTW ...I use 800k+ in bank account.

 

40k agent fee on 800k baht is 5%, hard to earn.

 

I'm happy to get the 1% Krungsi pay me for the 800k while my other investments earn my income (until recently bank accounts in Aussie were only giving 0.3-0.4%)

 

Edited July 9, 2022 by aussiexpat

[DrJack54]

8 minutes ago, aussiexpat said:

40k on 800k baht is 5%, hard to earn

Google "CBUS returns last 10 years".

Very conservative Oz industry super fund.

Average closer to 10%>

In any event. Off topic.

Agent option there for those that want to use it. 

[aussiexpat]

7 minutes ago, DrJack54 said:

Google "CBUS returns last 10 years".

Very conservative Oz industry super fund.

Average closer to 10%>

In any event. Off topic.

Agent option there for those that want to use it. 

I have CBUS as well as shares, gold and property rental. This argument of "can get better" only applies if the 800k baht is all you have

 

Parking 800k baht at 1% interest to get a retirement visa is hardly wealth threatening

 

Better than giving away 40k baht for something you can easily do yourself

 

Edited July 9, 2022 by aussiexpat

[Sharp]

1 hour ago, Peterw42 said:

The people in Phuket are not in trouble with immigration, or for breaking any rules, doing something illegal. They are in trouble because an agent took their money and did a runner.

No different to buying somethin online and it wasnt delivered. Nobody is questioning or investigating the legalities of the agent use.

WRONG!!!! A friend of mine involved has been told to get an emergency document and LEAVE as they cannot find the agent or Passport .

They also made everyone aware that circumventing the rules is illegal... 

Read the Phuket News full requirement report also.

Quote  .There are no LEGAL visa agents except for Thai Elite holders was the comment!! 

[Olmate]

9 minutes ago, Sharp said:

WRONG!!!! A friend of mine involved has been told to get an emergency document and LEAVE as they cannot find the agent or Passport .

They also made everyone aware that circumventing the rules is illegal... 

Read the Phuket News full requirement report also.

Quote  .There are no LEGAL visa agents except for Thai Elite holders was the comment!! 

Have you known your friend was not very bright for some time or just since using this scammer? 

[Peterw42]

21 minutes ago, Sharp said:

WRONG!!!! A friend of mine involved has been told to get an emergency document and LEAVE as they cannot find the agent or Passport .

They also made everyone aware that circumventing the rules is illegal... 

Read the Phuket News full requirement report also.

Quote  .There are no LEGAL visa agents except for Thai Elite holders was the comment!! 

He is in trouble because he doesn't have a passport, he still isn't in any trouble for doing a bogus visa, or using a bogus agent.

As I said, nobody is being investigated, prosecuted, for using an agent, having a bogus extension..

[Thingamabob]

Always used the 800k route for retirement extension. Have never used an agent in over 35 years, have never ever had any hassle.

[Sharp]

47 minutes ago, Peterw42 said:

He is in trouble because he doesn't have a passport, he still isn't in any trouble for doing a bogus visa, or using a bogus agent.

As I said, nobody is being investigated, prosecuted, for using an agent, having a bogus extension..

Actually yes u are correct my point is they are now  in trouble with immigration law due to using an agent .To be honest I'm not against it but this proves there are massive risks should it go wrong. The fact it was in the media probably negated circumstances that could of been way worse. 

[Bill Kiwi 68]

3 hours ago, aussiexpat said:

How is anyone retired without 800,000 baht to meet legal requirements. Maybe keep working?

I'm trying to learn another online business.  The first one failed.  I cannot afford rent in NZ on superannuation and cannot work in SE Asia but the rent is cheap here.

[StevieAus]

5 hours ago, aussiexpat said:

This is what I dont understand, people are apparently too poor to put 800k baht in a bank account but are happy to pay 30-40k baht to do something they could easily do themselves for free

 

I'd rather spend the 30-40k baht on me (or my latest gf)

 

You might be surprised to learn that there are people particularly those on low pension amounts particularly when they are not indexed, as happens with UK state pensions  that cannot raise the 800k.

I know of two such people using agents and who seem to survive

”on the smell of an oily rag” but claim that they are better off than if in their home countries.

[Hummin]

6 hours ago, aussiexpat said:

I wish someone would withdraw the 800k during the 1 hour the agent fake deposit the funds in your account...throw a nice party ????

Yes, do that while they are holding your passport, adress, and other critical information. ????

[murraynz]

7 hours ago, aussiexpat said:

How is anyone retired without 800,000 baht to meet legal requirements. Maybe keep working?

Very well said... Don't bother moving to Thailand unless you have ample funds, for visa, insurance and living expenses.. At 68 he's had 48 years to save a retirement fund... OMG... 

[Bill Kiwi 68]

Response to ausexpat and murraynz---

I never said I was retired.  Just investigating applying for retirement visa.  In reverse chrono order: I'm learning about online business that requires no capital outlay. I have just closed a drop shipping and branded product business because it kept losing money.  In 2007 my property development went belly up because city council changed town planning rules overnight, Zeal Design said they would do resource and building consents in 3 months and took seven[council changed the rules just before that] and GFC resulted in funding being withdrawn.  This meant I had to sell down my rental properties from 2008 on and inability to earn enough to meet loan payments.  That is why I'm homeless looking for cheap rent outside NZ and NOT retired as one or two may have concluded.  If someone applies for retirement visa, it does not mean they are retired.  Try logic and not tribalism,

[Lemsta69]

24 minutes ago, Bill Kiwi 68 said:

Response to ausexpat and murraynz---

I never said I was retired.  Just investigating applying for retirement visa.  In reverse chrono order: I'm learning about online business that requires no capital outlay. I have just closed a drop shipping and branded product business because it kept losing money.  In 2007 my property development went belly up because city council changed town planning rules overnight, Zeal Design said they would do resource and building consents in 3 months and took seven[council changed the rules just before that] and GFC resulted in funding being withdrawn.  This meant I had to sell down my rental properties from 2008 on and inability to earn enough to meet loan payments.  That is why I'm homeless looking for cheap rent outside NZ and NOT retired as one or two may have concluded.  If someone applies for retirement visa, it does not mean they are retired.  Try logic and not tribalism,

ser, ignore the trolls, haters gonna hate. if you really want to keep them out of your life ... https://aseannow.com/ignore

[Bill Kiwi 68]

Thank you Lemsta69