1 minute ago, oldcpu said:

 

As noted to you already, the $100k US$ equivalent, need not be in Thailand.

 

However, it must be in a bank account (savings, or chequing).  I don't know if term deposit accepted, I suspect not.  It can not be in an account capable of trading equities.   I went through a couple different accounts (where i can trade equities) and BoI rejected them both. 

 

Also, if the account is in a foreign country, with statements not in English language, I suspect the statements will need to be officially translated to English language.  That was important to me, as I did not want to use my bank accounts in Germany to show the $100k US$ equivalent, as I believed official certified translation to English language would be needed, which I considered a PIA, given I could point to funds elsewhere.

 

Thanks for your information.

 

The money is in three ISA savings instant access accounts in the UK but are with different banks so they will not be accepted as the money has to be in one account.

14 minutes ago, JamesPhuket10 said:

The money is in three ISA savings instant access accounts in the UK but are with different banks so they will not be accepted as the money has to be in one account.

 

That is unfortunate.  One would hope that having the amount assured in 3 savings accounts would be ok.  Banks have a limit on how much they will insure, and not everyone has the money, nor even if they have the money, want to put too much money in any one given bank.

 

I still have vivid memory of 2008 ... I was living in Germany then, and I had an inkling as to what was happening, BEFORE it became public, strictly based on watching the news and me having a bit of a paranoid perspective.  I quickly liquidated some of my stocks (to cash) and made several trips to different ATMs, and at one point had ~15,000 euros in cash hidden away in our small apartment in Germany in various spots.  My wife thought i had lost my mind (she was probably right), but i did not have total faith in the governments reacting as quick as they did to bail out the banks. 

 

I recall then the day before the big announcement went public (about the 2008 financial crisis), at Frankfurt airport, on a business trip, being bussed (in a crowded bus) from the aircraft to the terminal.  The bus was full of people in suits, and it was noisy at first. I was ranting in an average tone (not loud) to my colleague at what I thought was about to happen (re; ATMs possibly drying up for funds, or restrictions on withdrawals being put in place) , and how I thought the behaviour of the bankers to allow this to come about was criminal.  The bus suddenly got quiet, and I realized many were straining to listen to me.  I promptly shut up at that point, suspecting most of those 'in suits' were all bankers.

 

I could tell more stories about this, but I am very far off topic.

 

Fortunately, the governments did step in to rescue the banks, and year 2008 is just now a memory. As soon as bailouts became known, i deposited the money back in the banks.   And I no longer keep money in cash in my place. Its just too damned risky.   Rather i diversify into different banks and brokerage companies.

 

So - yes, i fully appreciate keeping $100k US equivalent in one bank, is just not something many wish to do.

12 hours ago, JohnnyBD said:

You haven't wasted any potential interest earnings if you normally keep $100k or more in a high-yield bank savings account. You just have to provide the 12 month bank statements as proof to satisfy BOI. Several on this forum have already stated they are using the $100k bank method so they already had the $100k in their savings accounts for 12 months prior to their LTR applications. My Capital One Bank savings account is paying 3.5% interest. I keep much more than $100k in cash instruments such as; high-yield savings & bank CDs. To each his own!

As I have stated several times, in Australia the difference between at-call bank savings accounts and interest earning investment bank accounts and retirement superannuation accounts in Australia is huge. I am not sure how it works for other countries, but for me that is a lot of wasted potential earnings.  I just calculated $100K USD between my bank account and  my super earnings- and it equates to 230,000 Baht - and more if it went into a Thai bank savings account  Lets not go into the issue of millionaires having wasted cash in a bank account and living full-time in Pattaya (again). But for me it would be the insurance option - which I have said is not 'acceptable' given I self-insure (over 1 million Baht in bank accounts and some accident insurance) and have done so for over 10 years.   

4 hours ago, JamesPhuket10 said:

 

I don't agree with the generalised comment on Western Women.

 

My mother and father were together for decades until the father died, they were very happy together.

 

My ex-wife was Thai, a very educated girl I met in England while she was at university, glad to get out of that one.

 

My second son had two Thai girlfriends in England, both turned out bad.

 

He is now with an English girl and they are great together.

 

My other son is married to a New Zealand girl and they have a child, they are very happy in NZ.

 

My brother and sister are married to English partners, happy together for many decades.

 

It is a very tricky in Thailand meeting the right woman as so many are out for the cash.

 

But I think what happens is a lot of farangs meet their women in bars, they do not move in the right circles to meet decent ones, if the woman can sell her body for  money then they will not think twice about cheating on their husbands.

 

I met my Thai partner as I hired a car through her own tourist business, a week later it was her birthday and her friends invited me along to the party, we never looked back. 

 

As far as falling off bikes go I have done it twice this year in England, on one occasion I took the skin off of an arm, it took months to heal, the second was in a park where I had to avoid pedestrians as people walk on cycle tracks in the UK.

 

I sold the bike. 😃

I am not going to disagree with all that - most of it is true - but I will say it is a very narrow base upon which you made your judgments - you should really look beyond your own experiences and families.  The truth is that the divorce rates in the west are high and dont seem to be slowing - and the issue with that is because invariably it is the western blokes that loose out financially.  In Thailand (to be somewhat specific) the blokes who do lose their money are not financially r**ped as in the west through a divorce, they voluntarily (foolishly) waste their money based on bad decisions. 

 

I have to agree that a lot of Expats do seem to have met their Thai GF/Wives that they wasted lots of money on, in bars and in other situations not condusive to her being a 'good person'.  That is not to say some Thai girls in those situations do not turn out to be great Expat wives - I know 2 blokes like that (one knows, the other one doesnt). 

 

Good idea to sell the bike - falling at our age is not a good thing. Once you get past 70ish even a trip and fall inside the house can be catastrophic if unlucky.  I recall going up a ladder earlier this year - it had been a few years and although it was good, I noticed my sense of balance was nowhere near what it was back in the day.  Now either the wife does it - or we pay a Thai worker.   

2 hours ago, JohnnyBD said:

If you want to find out if your bank account is acceptable, you don't have to wait. You can email BOI in advance and ask them. That's what I did. Best of luck to you!

I did ask that question and they replied 'any cash savings account with any Aust bank' - they did not specifically say if a specific type of account with a specific Australian bank was acceptable.  I am sure they would accept most savings accounts - but my issue is that it is not guaranteed (rules change here a lot)  and that is a lot of wasted earnings. As someone already said, that option really only applies to someone that has already had over $150K USD in a bank savings account (although I cannot see why someone would).  Some said that a term investment bank account was probably OK - but BOI said it must be an 'cash' bank account not a fixed term. 

42 minutes ago, oldcpu said:

 

That is unfortunate.  One would hope that having the amount assured in 3 savings accounts would be ok.  Banks have a limit on how much they will insure, and not everyone has the money, nor even if they have the money, want to put too much money in any one given bank.

 

I still have vivid memory of 2008 ... I was living in Germany then, and I had an inkling as to what was happening, BEFORE it became public, strictly based on watching the news and me having a bit of a paranoid perspective.  I quickly liquidated some of my stocks (to cash) and made several trips to different ATMs, and at one point had ~15,000 euros in cash hidden away in our small apartment in Germany in various spots.  My wife thought i had lost my mind (she was probably right), but i did not have total faith in the governments reacting as quick as they did to bail out the banks. 

 

I recall then the day before the big announcement went public (about the 2008 financial crisis), at Frankfurt airport, on a business trip, being bussed (in a crowded bus) from the aircraft to the terminal.  The bus was full of people in suits, and it was noisy at first. I was ranting in an average tone (not loud) to my colleague at what I thought was about to happen (re; ATMs possibly drying up for funds, or restrictions on withdrawals being put in place) , and how I thought the behaviour of the bankers to allow this to come about was criminal.  The bus suddenly got quiet, and I realized many were straining to listen to me.  I promptly shut up at that point, suspecting most of those 'in suits' were all bankers.

 

I could tell more stories about this, but I am very far off topic.

 

Fortunately, the governments did step in to rescue the banks, and year 2008 is just now a memory. As soon as bailouts became known, i deposited the money back in the banks.   And I no longer keep money in cash in my place. Its just too damned risky.   Rather i diversify into different banks and brokerage companies.

 

So - yes, i fully appreciate keeping $100k US equivalent in one bank, is just not something many wish to do.

 

Yes, the guarantee from any one bank in the UK is £85k, so I split my cash into different banks.

 

In December 2007 I put my second house on the market as I felt the property market had gone too far, I kept the main house as we were using it as a family house long term. (I got caught in the 1988 crash, lost five properties in London, base rates at about 16%, I was young enough to recover financially).

 

I completed the sale in January 2008, got a very good prices and a few months later the prices dropped and then accelerated downwards after the collapse of Leman Brothers.

 

I decided to sell the family house in early 2021 as there was a race for space for large houses in commuter towns near London after the two/three years of Covid lockdowns were over and many people were working from home.

 

I thought here we go again, I sold at a good price, put the cash in the bank as later on it was earning over 5% interest and I watched prices drop in the South East.

 

I checked recently and it is now on the market for less than I sold it for over four years ago.

 

I bought an apartment in a commuter town to London earlier this year next to the train station and it was rented out in ten days. I know the one day a week in the office would not last and so people would want to live near a station, the flexi time arrangements is now on average 2.7 days a week in the office, that will go higher as the job market is getting tighter and so employers will demand more time at work. 

 

I saw that interest rates were on the fall thus boosting the property market in the next few years, I bought it for 12% cheaper than the original price as prices again had dropped.

 

I used the cash I had to buy it so now I do not have to be keeping a weekly eye on interest rates and moving money between a dozen accounts as I had to do for the last few years as most of the money has been used for the purchase. 

 

I also worked in Germany for a few years including Frankfurt, but I used to commute back to the UK every Friday and back again on Monday.

 

 

41 minutes ago, TroubleandGrumpy said:

As I have stated several times, in Australia the difference between at-call bank savings accounts and interest earning investment bank accounts and retirement superannuation accounts in Australia is huge. I am not sure how it works for other countries, but for me that is a lot of wasted potential earnings.  

Everyone's financial situation is different. You're doing what's best for you, and others are doing what's best for them. That's how it should be. I am only concerned with doing what's best for me. Best of luck to you!

22 minutes ago, TroubleandGrumpy said:

I am not going to disagree with all that - most of it is true - but I will say it is a very narrow base upon which you made your judgments - you should really look beyond your own experiences and families.  The truth is that the divorce rates in the west are high and dont seem to be slowing - and the issue with that is because invariably it is the western blokes that loose out financially.  In Thailand (to be somewhat specific) the blokes who do lose their money are not financially r**ped as in the west through a divorce, they voluntarily (foolishly) waste their money based on bad decisions. 

 

I have to agree that a lot of Expats do seem to have met their Thai GF/Wives that they wasted lots of money on, in bars and in other situations not condusive to her being a 'good person'.  That is not to say some Thai girls in those situations do not turn out to be great Expat wives - I know 2 blokes like that (one knows, the other one doesnt). 

 

Good idea to sell the bike - falling at our age is not a good thing. Once you get past 70ish even a trip and fall inside the house can be catastrophic if unlucky.  I recall going up a ladder earlier this year - it had been a few years and although it was good, I noticed my sense of balance was nowhere near what it was back in the day.  Now either the wife does it - or we pay a Thai worker.   

 

But you must have based your info on your own experiences in Thailand.

 

And also in the West people tend to generalise, I was divorced in England a long time ago and I did not lose my shirt, we both got what we deserved as we both had worked hard.

 

It seems the divorce rate is increasing in Thailand, about 40% of marriages end in divorce here. 

 

Plus about 20% of Thai women in a long term relationship are mia noi, so they will not be registered as wives when the couple split.

 

The following are some basic stats on divorce rates from ChatGPT

 

Country

Rough % of marriages ending in divorce (first marriages / all marriages)

Thailand

~30-40% 

UK

~34% for all marriages over long term; ~40% for some cohorts by 25 years  

USA

~40-45% for first marriages; higher for repeat marriages  

48 minutes ago, TroubleandGrumpy said:

I am not going to disagree with all that - most of it is true - but I will say it is a very narrow base upon which you made your judgments - you should really look beyond your own experiences and families.  The truth is that the divorce rates in the west are high and dont seem to be slowing - and the issue with that is because invariably it is the western blokes that loose out financially.  In Thailand (to be somewhat specific) the blokes who do lose their money are not financially r**ped as in the west through a divorce, they voluntarily (foolishly) waste their money based on bad decisions. 

 

I have to agree that a lot of Expats do seem to have met their Thai GF/Wives that they wasted lots of money on, in bars and in other situations not condusive to her being a 'good person'.  That is not to say some Thai girls in those situations do not turn out to be great Expat wives - I know 2 blokes like that (one knows, the other one doesnt). 

 

Good idea to sell the bike - falling at our age is not a good thing. Once you get past 70ish even a trip and fall inside the house can be catastrophic if unlucky.  I recall going up a ladder earlier this year - it had been a few years and although it was good, I noticed my sense of balance was nowhere near what it was back in the day.  Now either the wife does it - or we pay a Thai worker.   

 

Re the bike.

 

It was a 20 inch wheel bike and so the centre of gravity was not great, that is why I fell off it and then sold it.😃

 

I am converting my 26 inch wheel bike in Thailand to electric, I will only ride it on private land though. I have never fallen off it.

 

As far as ladders go I get a Thai worker to do that sort of thing, labour is cheap here compared to the UK.

 

Eg the tenant of my property in the UK said the hot water is not working in one of the shower rooms.

 

It cost £85 just for the plumber to look at it and an extra £265 to fit the part plus labour, one hours job.

 

 

 

1 hour ago, TroubleandGrumpy said:

As someone already said, that option really only applies to someone that has already had over $150K USD in a bank savings account (although I cannot see why someone would).  Some said that a term investment bank account was probably OK - but BOI said it must be an 'cash' bank account not a fixed term. 

I don't understand why you cannot understand that some wealthy people with large investment portfolios keep a portion of their assets in cash instruments such as; high-yield savings or CDs. Your financial situation must be different that mine because I always keep a minimum of 5% in cash instruments. Just so you know, $150k is less than 5% of some people's total portfolio. Many financial advisors recommend a cash allocation of between 5% to 20% for investors age 65 and older. By keeping 5% to 20% in a liquid safe account, it can help avoid selling assets during a market downturn. In my case, I also want to make sure my wife will have enough money to live on in case something happens to me while they divide up my estate.

 

Everyone's situation is different. To each his own. That's it for me.

 

Best of luck to you!

4 hours ago, JamesPhuket10 said:

 

But you must have based your info on your own experiences in Thailand.

 

And also in the West people tend to generalise, I was divorced in England a long time ago and I did not lose my shirt, we both got what we deserved as we both had worked hard.

 

It seems the divorce rate is increasing in Thailand, about 40% of marriages end in divorce here. 

 

Plus about 20% of Thai women in a long term relationship are mia noi, so they will not be registered as wives when the couple split.

 

The following are some basic stats on divorce rates from ChatGPT

 

Country

Rough % of marriages ending in divorce (first marriages / all marriages)

Thailand

~30-40% 

UK

~34% for all marriages over long term; ~40% for some cohorts by 25 years  

USA

~40-45% for first marriages; higher for repeat marriages  

I am basing those assertions on freely available stats and also my own observations. The stats show that 40-50% of western marriages end in divorce and 60-70% of second marriages. My own observations is that those rates are low and reality is higher - but that is in Australia and amongst my social circles which are wide - I was an Regional Manager but played football with Tradies. 

 

The difference is that in Thailand, the blokes are not screwed over as much as they are in the west by divorce laws.   

3 hours ago, JamesPhuket10 said:

Re the bike.

It was a 20 inch wheel bike and so the centre of gravity was not great, that is why I fell off it and then sold it.😃

I am converting my 26 inch wheel bike in Thailand to electric, I will only ride it on private land though. I have never fallen off it.

As far as ladders go I get a Thai worker to do that sort of thing, labour is cheap here compared to the UK.

Eg the tenant of my property in the UK said the hot water is not working in one of the shower rooms.

It cost £85 just for the plumber to look at it and an extra £265 to fit the part plus labour, one hours job.

Yep - gravity sucks - especially when up a ladder 

Yes Thailand labour is cheap - as they say - better to buy a used house here and spend a bit fixing it up. 

But the wife always wanted a new house - so that is what we got - add ons are so cheap here.

I gutted and rebuild the whole kitchen/room - cost under $10K AUD - would have cost $30K+ in Australia. 

Had a pergola/veranda build for well under $10K - that would have cost a lot more than kitchen back home (mainly labour). 

 

3 hours ago, JohnnyBD said:

I don't understand why you cannot understand that some wealthy people with large investment portfolios keep a portion of their assets in cash instruments such as; high-yield savings or CDs. Your financial situation must be different that mine because I always keep a minimum of 5% in cash instruments. Just so you know, $150k is less than 5% of some people's total portfolio. Many financial advisors recommend a cash allocation of between 5% to 20% for investors age 65 and older. By keeping 5% to 20% in a liquid safe account, it can help avoid selling assets during a market downturn. In my case, I also want to make sure my wife will have enough money to live on in case something happens to me while they divide up my estate.

 

Everyone's situation is different. To each his own. That's it for me.

 

Best of luck to you!

I cannot understand that you cannot listen - in Australia bank savings accounts pay SFA interest - only an idiot would keep that sort of money in such account for 12 months or more.  I knew a few very wealthy people - and they never wasted money by having large amounts in a savings account.  I am thinking you are full of it - and that you see that many investment funds have 'cash' as part of their investment portfolios. That is not CASH as in a bank savings accounts - it means 'money' usually invested in Govt secure investment organisations (including banks) or Government Bonds. It is NOT cash in a savings account. 

54 minutes ago, TroubleandGrumpy said:

I cannot understand that you cannot listen - in Australia bank savings accounts pay SFA interest - only an idiot would keep that sort of money in such account for 12 months or more.  I knew a few very wealthy people - and they never wasted money by having large amounts in a savings account.  I am thinking you are full of it - and that you see that many investment funds have 'cash' as part of their investment portfolios. That is not CASH as in a bank savings accounts - it means 'money' usually invested in Govt secure investment organisations (including banks) or Government Bonds. It is NOT cash in a savings account.

I do not care about your financial situation or your money in Australia. I read most of your 70 or so posts in this thread and what I figured out is you are not wealthy and you cannot qualify for a LTR visa without having to withdraw from your Superannuation retirement account, which would require you to pay taxes on those withdrawals. All of your posts are very negative and it seems to me you are angry at those who can afford to get the LTR visas. I have a LTR-WP visa and I'm enjoying the benefits. I won't be responding to you anymore. I'm not the one full of it. Best of luck to you!

46 minutes ago, TroubleandGrumpy said:

I knew a few very wealthy people - and they never wasted money by having large amounts in a savings account. 

Diversified portfolios should all include some liquid, safe, low paying assets. And, of course, you're well advised to have a diversified portfolio. For some of us, we live very nicely on our monthly pension and social security checks. And what's in our investments is just gravy, meaning: we have the option to plunk all/most into risky (but potentially high rewarding returns); or to have all/most completely in risk free investments. Since I have no need to increase my investment portfolio (since most will go to nieces and nephews, 'til I can find a nice soi dog foundation) -- maintaining my investment status quo, with annual interest covering inflation, is just fine: I'll never outspend the current investment amount, so no need for any risky enhancement. 

 

So, yeah, if you need your investments to appreciate to cover your life style -- certainly having money in a savings account defeats this purpose. But for those of us comfortably rich, and not requiring any risk in our investments -- a chunk of our investments in a reasonably paying savings account is a reasonable option.

 

So, glad the wealthy friends you have prefer risk over stability. But, actually, if you're very comfortably rich -- it actually makes no real difference in which direction you go. 

19 hours ago, BrandonJT said:

This is actually the best way to communicate with most Thai embassies and consulates.  It seems weird, but knowing how obsessed Thais are with social media, it's not too surprising.

I think the main reason for sticking to writeen communication is that Thais are "afraid" to talk in English and potentially lose face. So for them it is easier to communicate in written english, especially with the help of AI and spell checks. I also much prefer written communication.

On 9/18/2025 at 12:55 PM, oldcpu said:

 

i assume that is because when you lived in Germany, you remained on the German public system.

 

When I lived and worked in Germany, i moved to the private system. It meant good tax deductions and surprisingly at times, it also meant possibly quicker treatment when i went to get medical treatment in Germany. I know, quicker treatment is not supposed to happen, but i believe it does (or rather it did 10 to 20 years ago) ... where for German doctors, to be compensated for the public health care services they provided, takes forever for the government to pay (the doctor) their money, ...  but the doctor's often get very very quick payment from those on private Health insurance.

 

anyway ... I diverge.

 

Given i was on private insurance in Germany, my understanding is I can never go back to public health care service in Germany.

 

Hence while this is true for you (where you can get German public health care if you return) i do not believe it true for those in Germany who had switched to private healthcare. 

Thanks for your post! Correct I switched back to German public system (gesetzlich versichert)just before turning 55. After 55 it becomes very difficult to switch from private insurance to the public system. The public system is worse then the private system when you do want an urgent appointment but then you can always pay the bills yourself. Private insurance is about 500€ per month when being 55 and goes up to 900€ when 85 plus. Public system cost is about 100-300€ depending on your earnings.

12 hours ago, JamesPhuket10 said:

 

I don't agree with the generalised comment on Western Women.

 

My mother and father were together for decades until the father died, they were very happy together.

 

My ex-wife was Thai, a very educated girl I met in England while she was at university, glad to get out of that one.

 

My second son had two Thai girlfriends in England, both turned out bad.

 

He is now with an English girl and they are great together.

 

My other son is married to a New Zealand girl and they have a child, they are very happy in NZ.

 

My brother and sister are married to English partners, happy together for many decades.

 

It is a very tricky in Thailand meeting the right woman as so many are out for the cash.

 

But I think what happens is a lot of farangs meet their women in bars, they do not move in the right circles to meet decent ones, if the woman can sell her body for  money then they will not think twice about cheating on their husbands.

 

I met my Thai partner as I hired a car through her own tourist business, a week later it was her birthday and her friends invited me along to the party, we never looked back. 

 

As far as falling off bikes go I have done it twice this year in England, on one occasion I took the skin off of an arm, it took months to heal, the second was in a park where I had to avoid pedestrians as people walk on cycle tracks in the UK.

 

I sold the bike. 😃

Cycling in Hua Hin felt safer in Hua Hin then in Germany or Europe in general. Cycling in Banglamung (Pattaya province) backroads was OK but I only had one MTB route . The main roads are pretty dangerous in Banglamung.

6 hours ago, JamesPhuket10 said:

 

But you must have based your info on your own experiences in Thailand.

 

And also in the West people tend to generalise, I was divorced in England a long time ago and I did not lose my shirt, we both got what we deserved as we both had worked hard.

 

It seems the divorce rate is increasing in Thailand, about 40% of marriages end in divorce here. 

 

Plus about 20% of Thai women in a long term relationship are mia noi, so they will not be registered as wives when the couple split.

 

The following are some basic stats on divorce rates from ChatGPT

 

Country

Rough % of marriages ending in divorce (first marriages / all marriages)

Thailand

~30-40% 

UK

~34% for all marriages over long term; ~40% for some cohorts by 25 years  

USA

~40-45% for first marriages; higher for repeat marriages  

Divorce rates are always way higher in relationships that include people from different cultures. So the risk of divorce is pretty high but as always it is just a statistic.

1 hour ago, JohnnyBD said:

I do not care about your financial situation or your money in Australia. I read most of your 70 or so posts in this thread and what I figured out is you are not wealthy and you cannot qualify for a LTR visa without having to withdraw from your Superannuation retirement account, which would require you to pay taxes on those withdrawals. All of your posts are very negative and it seems to me you are angry at those who can afford to get the LTR visas. I have a LTR-WP visa and I'm enjoying the benefits. I won't be responding to you anymore. I'm not the one full of it. Best of luck to you!

I do not agree. My international brokerage account pays way higher interest then my German savings account. So Grumpy is right that for most people 100K in a tradional account that is accepted by BOI loses a lot of interest vs for example a 5 years US bond investment with 3.8%. Regular German account pays 1 to 2% max!

54 minutes ago, stat said:

I do not agree. My international brokerage account pays way higher interest then my German savings account. So Grumpy is right that for most people 100K in a tradional account that is accepted by BOI loses a lot of interest vs for example a 5 years US bond investment with 3.8%. Regular German account pays 1 to 2% max!

The point is some people do not care letting 100K or more in cash not invested because it's just peanuts for them. Missing this money will have no impact to maintain their lifestyle.

1 hour ago, stat said:

3 hours ago, JohnnyBD said:

I do not care about your financial situation or your money in Australia. I read most of your 70 or so posts in this thread and what I figured out is you are not wealthy and you cannot qualify for a LTR visa without having to withdraw from your Superannuation retirement account, which would require you to pay taxes on those withdrawals. All of your posts are very negative and it seems to me you are angry at those who can afford to get the LTR visas. I have a LTR-WP visa and I'm enjoying the benefits. I won't be responding to you anymore. I'm not the one full of it. Best of luck to you!

I do not agree. My international brokerage account pays way higher interest then my German savings account. So Grumpy is right that for most people 100K in a tradional account that is accepted by BOI loses a lot of interest vs for example a 5 years US bond investment with 3.8%. Regular German account pays 1 to 2% max!

My Capital One bank savings acct in the US pays 3.5% interest, and it was accepted by BOI.

3 hours ago, stat said:

Thanks for your post! Correct I switched back to German public system (gesetzlich versichert)just before turning 55. After 55 it becomes very difficult to switch from private insurance to the public system. The public system is worse then the private system when you do want an urgent appointment but then you can always pay the bills yourself. Private insurance is about 500€ per month when being 55 and goes up to 900€ when 85 plus. Public system cost is about 100-300€ depending on your earnings.

 

Yes. I think for anyone who worked in Germany, that the German health care system (with its mix of private and public) adds a new dimension with additional considerations, when it comes to considering health insurance and in turn, the LTR-Visa requirements for Health Insurance.

 

My hope is all participating in this thread, and for that matter, all expats in Thailand, find the best (and safest) health care approach that suits their financial and health situation.

4 hours ago, JimGant said:

Diversified portfolios should all include some liquid, safe, low paying assets. And, of course, you're well advised to have a diversified portfolio. For some of us, we live very nicely on our monthly pension and social security checks. And what's in our investments is just gravy, meaning: we have the option to plunk all/most into risky (but potentially high rewarding returns); or to have all/most completely in risk free investments. Since I have no need to increase my investment portfolio (since most will go to nieces and nephews, 'til I can find a nice soi dog foundation) -- maintaining my investment status quo, with annual interest covering inflation, is just fine: I'll never outspend the current investment amount, so no need for any risky enhancement. 

Jim, I completely agree with your comments above. I have a good company pension based on 40 years of service and my US Social Security is quite good also. I also have a sizable portfolio with 3 income streams (brokerage, Roth & Rollover IRA accts) that generate lots of dividends & interest. I reinvest all of the earnings from my Rollover IRA to keep my tax rates as low as possible. My risk tolerance is fairly low, so I keep a sizable amount of cash in CDs (short-term & long-term), in money market funds, and in a high-yield savings acct with Capital One bank which pays 3.5%, and was accepted by BOI. I don't know why others cannot understand that everyone's situation is different. I like to keep $100k to $200k in liquid risk-free accts. I don't see anything wrong with that. If something happens to me, I want my wife to have some money to live on while they settle up my estate. It also comes in handy sometimes. My daughter built a new house (really overbuilt) a few years ago using her own cash, but she came up short, so I was able to loan her $50k so she didn't have to make a bank loan. Another one needed a new car, so Dad was able to help out. I have more income than I need, so I generously give to my loved ones. Like you, I will never need to dip into my investments, so there' no need for risky investments. I hope you're enjoying your retirement. Best of luck to you!

Through email exchanges with the LTR Visa Unit in which I asked specific questions about requalifying under the self-insurance option at the visa's 5-year extension, I have the following understanding of the official position regarding some of the issues being discussed in this thread:

• The required funds must be in a bank account and not in a credit union account.
• The funds may be spread across multiple banks or accounts as long as the total amount exceeds the required threshold.
• To qualify for the extension, the applicant must provide statements showing the funds having been retained on deposit for the 12-month period prior to the extension date.

57 minutes ago, pablo el sueco said:

Through email exchanges with the LTR Visa Unit in which I asked specific questions about requalifying under the self-insurance option at the visa's 5-year extension, I have the following understanding of the official position regarding some of the issues being discussed in this thread:

• The required funds must be in a bank account and not in a credit union account.
• The funds may be spread across multiple banks or accounts as long as the total amount exceeds the required threshold.
• To qualify for the extension, the applicant must provide statements showing the funds having been retained on deposit for the 12-month period prior to the extension date.

I think where BOI may not like funds in a "credit union" they are talking from the stand point of the type of credit union deposit acct where the funds are tied up for a while....can be typical of a Thai credit union where a person's deposits are a little tougher to withdraw in comparison to a regular Thai bank.   Just the nature of some Thai credit unions where the deposits are focused on lending to other credit union members.     

 

But in many other countries like the U.S., where credit unions are very common the credit unions various accounts of savings, checking, certificate of deposits (CD)s, money market funds, credit cards, debit cards, investments, etc...etc...etc., are exactly like any other banking institution.  Really the only difference between a regular bank and credit union can be in name only and the credit union having certain membership requirements---but otherwise the credit union is just another bank with the same type of accts just like a bank that doesn't have credit union in its name.

 

 

1 hour ago, pablo el sueco said:

Through email exchanges with the LTR Visa Unit in which I asked specific questions about requalifying under the self-insurance option at the visa's 5-year extension, I have the following understanding of the official position regarding some of the issues being discussed in this thread:

• The required funds must be in a bank account and not in a credit union account.
• The funds may be spread across multiple banks or accounts as long as the total amount exceeds the required threshold.
• To qualify for the extension, the applicant must provide statements showing the funds having been retained on deposit for the 12-month period prior to the extension date.

Was that your understanding? Or, was that the exact wording they sent you in their email reply to you? The reason I ask, is BOI replied via email to me with the exact wording below that the funds had to be in the same bank. See exact wording I pasted from their email below:

 

4. Documents of health insurance, social security or bank statement of 100,000 USD or above from the last 12 months that has been retained in the same bank and meet the requirements.   Please note that the officer may request further documents if necessary.   Kindly provide the above-mentioned documents, and we will review and respond to you after completion.

Kind regards, LTR Visa Unit

9 minutes ago, JohnnyBD said:

Was that your understanding? Or, was that the exact wording they sent you in their email reply to you? The reason I ask, is BOI replied in an email to me with the exact wording below that the funds had to be in the same bank. See below:

 

4. Documents of health insurance, social security or bank statement of 100,000 USD or above from the last 12 months that has been retained in the same bank and meet the requirements.   Please note that the officer may request further documents if necessary.   Kindly provide the above-mentioned documents, and we will review and respond to you after completion.

Here is the exact wording from their email correspondence:

Quote

The saving must be in a bank account, and it can be spread across multiple banks or accounts as long as the total amount exceeds the required threshold.

 

27 minutes ago, pablo el sueco said:

Here is the exact wording from their email correspondence:

 

The saving must be in a bank account, and it can be spread across multiple banks or accounts as long as the total amount exceeds the required threshold.

If that is their exact wording, then we have conflicting statements from BOI. I received my email reply from BOI just a few days ago in reference to changing from insurance to self-insurance, and it clearly states in the same bank,

 

Just to be safe, I will keep my money in the same bank account if I decide to go the self-insurance route. It would be very painful if one showed up for their 5-year renewal with money in several bank accounts and then be told that is not acceptable. Best of luck to you!

16 hours ago, JohnnyBD said:

I do not care about your financial situation or your money in Australia. I read most of your 70 or so posts in this thread and what I figured out is you are not wealthy and you cannot qualify for a LTR visa without having to withdraw from your Superannuation retirement account, which would require you to pay taxes on those withdrawals. All of your posts are very negative and it seems to me you are angry at those who can afford to get the LTR visas. I have a LTR-WP visa and I'm enjoying the benefits. I won't be responding to you anymore. I'm not the one full of it. Best of luck to you!

I do not pay ANY income taxes on the money I earn or withdraw from my superannuation account - as I have said several times - try reading people's post more slowly and fully so that in the future you get all the information.  IF I was to put my super money into a bank account that, as I have also said several times, will cause issues regarding taxation, and other Government stuff such as part-Pension payments I receive, and future issues when I move back there.

 

BOI refused to accept that my Super account was acceptable, even though I showed that it takes less than 2 days for a withdrawal to land in a Thai bank account.  They indicated that the 'earnings' I made in the super account could be acceptable as it was 'reported' by the Super Fund, but they could not understand why that money was not in my annual tax return no matter how I explained it.  The BOI clearly have an extremely poor understanding of financial arrangements in other countries - that and several other issues clearly showed that.  Now you may say that this is Thailand etc. and 'why should they' - and my answer is - 'because they are demanding the details of people's overseas financial organisations'.   

 

What is very clear from posters like yourself, is that you think you are 'better' than others who either cannot get the money to have an LTR (NOT ME), or who have decided that the LTR is either not suitable, or is a bit of a scam (ME).  The other thing very clear is that people like you refuse to listen/hear that there are 'issues' with the LTR Visa - you are constantly attacking my comments about the negatives with LTR Visas. If you are so happy with getting an LTR why are you so concerned that I am criticising it? 

 

You have forgotten that this is a forum whereby people provide their views and opinions. You seem to 'need' everyone to agree with your belief that the LTR Visa is for 'better' people and that it is perfect. Well I dont believe that for me, and my comments are not an attack on you or your decision, it is a statement of what I think is wrong with the LTR (health insurance) and what is a massive risk (future income taxes).   

 

The topic is about the LTR now being available - and that BOI have lowered the bars for requirements - due to the very small demand. Only 7000 applicants after 3 years shows that either it is not such a great solution, and/or people have concerns about some of the requirements. It does not mean that very few 'special' people qualify. IMO it is the health insurance and future income tax issues - which do not exist with Elite Visa or the standard 12 month Extensions.

 

I will also point out that I saw a video recently by Integrity Legal on Youtube that claimed the BOI does not have the authority to approve work permits under an LTR, unless the person is employed and paid by an overseas company and is working remotely in Thailand.  I think that could also be a reason why another group who might want the LTR, did not push down the doors at BOI to get one.

 

Please also understand that I am placing this post here, not just to answer you, but for others to read and to take into their decision making process about LTR.  As stated many times - I can meet the LTR requirements - but the insurance I would have to buy in Thailand is way overpriced, and the taxation and Govt downsides back in Australia from putting 100K USD into a savings account would be financially stupid. Plus of course - in some future year (IMO far less than 10) Thailand will change to a global taxations system - TRD is working on it now.