Spending the required 800,000 Baht for retirement visa.

[BonMot]

7 hours ago, Kopitiam said:

But you are commenting on a retirement visa extension matter like a "know all".

Not to belabor the point but according to Joe I was correct until 20-30 months ago. I've been here thirty years. In that sort of time you learn a thing or two. Obviously, this was not one of them.

[fulhamster]

18 hours ago, CANSIAM said:

They should be reducing that 800k to say 500k at least for the non-married..........

Persistent rumours around Jomtien that it will become 1 million.......

[Nickelbeer]

17 hours ago, loveushorttime said:

Sorry how does getting a visa agent change what you need in a bank account here ?

If you have the required 65 thousand baht a month in ANY bank, the rules can be waived by using an

agent. Some on this forum insist that this is illegal, but it is done every day. I have done this for the last five years and there have been no problems. I only keep about a thousand baht in my Bangkok Bank account. My agent charges 14 thousand baht each year for an extension of stay. Obviously, a part of that money goes to Immigration.  Nearly ALL of my money stays in my American credit union.

Edited September 13, 2022 by Nickelbeer
clarity

[DrJack54]

8 minutes ago, fulhamster said:

Persistent rumours around Jomtien that it will become 1 million.......

Rumors become persistent when they are repeated.

Why would Jomtien have any inside knowledge re this.

[Kwaibill]

On 9/12/2022 at 6:37 AM, DrJack54 said:

The letter from the bank is standard and basically states that you are the owner of the account and balance on day of obtaining letter. 

 

Some offices also like to see "activity" in account on day of application and this can be satisfied with small deposit at same time as obtaining bank letter. 

Yes, have made a tb100 deposit and updated my  book at Bkk bank, and got my letter in one trip in the past.

[Nickelbeer]

20 hours ago, CANSIAM said:

They should be reducing that 800k to say 500k at least for the non-married..........

They should be doing a lot of things, but they aren’t.  Law unto themselves.

[loveushorttime]

On 9/13/2022 at 10:27 AM, Nickelbeer said:

If you have the required 65 thousand baht a month in ANY bank, the rules can be waived by using an

agent. Some on this forum insist that this is illegal, but it is done every day. I have done this for the last five years and there have been no problems. I only keep about a thousand baht in my Bangkok Bank account. My agent charges 14 thousand baht each year for an extension of stay. Obviously, a part of that money goes to Immigration.  Nearly ALL of my money stays in my American credit union.

 Thanks for that. I did speak with a visa company on line who said they can do it without the 800k, but wouldn't say how, unless I used them for it. So the 65k per month doesn't need to be accessed ? you just need that 800k equivalent in total  showing in a foreign bank account per year ?

[Nickelbeer]

1 hour ago, loveushorttime said:

 Thanks for that. I did speak with a visa company on line who said they can do it without the 800k, but wouldn't say how, unless I used them for it. So the 65k per month doesn't need to be accessed ? you just need that 800k equivalent in total  showing in a foreign bank account per year ?

That’s how MY visa agent does it. I can’t speak for anyone else. Her method appears to be a direct payment to Immigration of “tea money”.  No money ever appears in my BKK Bank account, but she told me I needed to have one. I think she may have a special relationship with one or two top IO officers.  I don’t ask questions, I just pay up and let her do the heavy lifting.  The less I know, the better.

[Nickelbeer]

On 9/13/2022 at 10:33 AM, DrJack54 said:

Rumors become persistent when they are repeated.

Why would Jomtien have any inside knowledge re this.

I asked my agent about the rumors and she said not to worry.  If they keep pushing, the “goose/golden egg” factor will kick in and ruin everything. They have done it before and will do it again, especially with Big Joke now in charge of Immigration.  He needs to be transferred to an inactive post.

[JimmyJ]

36 minutes ago, Nickelbeer said:

I think she may have a special relationship with one or two top IO officers.  I don’t ask questions, I just pay up and let her do the heavy lifting.  The less I know, the better.

IMO the less posted about it (tea money  to Imm,, etc,) as well.

 

Why take a chance of ruining something you are happy with.

Edited September 20, 2022 by JimmyJ

[Nickelbeer]

2 minutes ago, JimmyJ said:

IMO the less posted about it (tea money  to Imm,, etc,) as well.

 

Why take a chance of ruining something you are happy with.

You are correct, but I was responding to a legitimate question. The visa situation has GOT to be the worst kept secret in Thailand. They say one thing and do another. My monthly income is far more than 65 thousand baht.  ALL of my income is spent here except the credit card bills I pay. No one is getting ripped off or defrauded. My income is easily verifiable, it is just not held hostage in a Thai bank.  When I first came here in 2015, Immigration told me they didn’t care WHERE my money was, just so I had the required amount. Then they changed the rules.  I consider myself to have been “grandfathered” into the system that was in place when I came here.

[ubonjoe]

21 minutes ago, Nickelbeer said:

When I first came here in 2015, Immigration told me they didn’t care WHERE my money was, just so I had the required amount. Then they changed the rules.  I consider myself to have been “grandfathered” into the system that was in place when I came here.

In 2015 I would assume you used a letter from your embassy to prove you income to apply for the extension.

In December of 2018 immigration issued a order allowing the income option to proven by transfer in a Thai bank for 12 months. It was done since at least 3 embassies (UK, USA and Australia) stopped issuing a proof of income document.

If can still get that proof from your embassy you can still use it.

[Nickelbeer]

10 minutes ago, ubonjoe said:

In 2015 I would assume you used a letter from your embassy to prove you income to apply for the extension.

In December of 2018 immigration issued a order allowing the income option to proven by transfer in a Thai bank for 12 months. It was done since at least 3 embassies (UK, USA and Australia) stopped issuing a proof of income document.

If can still get that proof from your embassy you can still use it.

The US Embassy says they will no longer issue Statutory Declarations of Income. I wish they still did because that method worked well for me. 

[ubonjoe]

15 minutes ago, Nickelbeer said:

The US Embassy says they will no longer issue Statutory Declarations of Income. I wish they still did because that method worked well for me. 

I know that since it affected me in 2019. My extension was due to late (more than 6 months) to try and use a income Affidavit issued in December of 2018, But luckily I had been transferring my income into my bank for several years and could apply for my extension by showing the transfers.

[JimGant]

On 9/12/2022 at 7:15 AM, Henryford said:

I always thought this was odd. I presume they wanted to see that you had funds in Thailand to support yourself, medical expenses etc so you weren't a burden on the state. BUT, for most of the year you can't touch it or spend it !!

They're not looking for that pile of money you spend down to live day to day -- they're looking for a self-insurance pile of money, available for emergencies, that can't be dipped into, except for such emergencies. That they allow you to cut in half (to 400k) for part of the year, does show their fairness of flexibility. But, they certainly don't want that pile empty, on the day you crash your motorcycle -- and then run up huge hospital bills -- and don't have any medical insurance.

 

Makes complete sense, since only folks with Non Imm OA extensions require medical insurance to live here in retirement. So, why not require the uninsured to have a dedicated source of funds that a hospital you stiffed can legally attach. Sounds fair to me, especially if I were a Thai, paying Thai taxes, and not wanting any of those taxes bailing out hospitals stiffed by indigent farangs. And, actually, if I were a Thai tax payer -- letting that self-insurance fund dip below 800k makes little sense. Stay tuned....

[DrJack54]

9 minutes ago, JimGant said:

Makes complete sense, since only folks with Non Imm OA extensions require medical insurance to live here in retirement

Makes zero sense since those with a non O-A not only require insurance but also require same financials for money in bank for extensions as those with a non O. 

[JimGant]

1 minute ago, DrJack54 said:

Makes zero sense since those with a non O-A not only require insurance but also require same financials for money in bank for extensions as those with a non O. 

The OA's are an anomaly -- that's a whole, sad, not thought out program. But, the majority of retirees in Thailand are not OA's -- and that's where the requirement, from the Thai side, for self-insurance makes sense.

[DrJack54]

3 minutes ago, JimGant said:

and that's where the requirement, from the Thai side, for self-insurance makes sense.

So why do they also have on the table income method option.

Where is the "self insure" element to a miserable 65k per month.

Where is the self insure component for married folk with minimal funds (400k) in bank for couple of months of the year. 

 

[DezLez]

2 hours ago, JimGant said:

That they allow you to cut in half (to 400k) for part of the year, does show their fairness of flexibility

But that is not flexible as it does not apply during the 5 months the 800K cannot be touched!

[1FinickyOne]

On 9/12/2022 at 6:09 AM, wornoutcowboy said:

Thanks guys.   And just how does the Thai immigration know how much is in the bank each month?  How do they check?

they look at your bank book... 

[JimGant]

2 hours ago, DrJack54 said:

Where is the "self insure" element to a miserable 65k per month.

You're right. They need to bring these folks under the same insurance mandate now required of OA extenders.

[JimGant]

24 minutes ago, DezLez said:

But that is not flexible as it does not apply during the 5 months the 800K cannot be touched!

The flex points are between five months, seven months, and the two months of the new season's beginning. But, yeah, slighty disjointed, indeed.

[JimGant]

33 minutes ago, 1FinickyOne said:

they look at your bank book... 

 

Edited September 22, 2022 by JimGant

[JimGant]

On 9/22/2022 at 5:22 PM, 1FinickyOne said:

they look at your bank book... 

Or the historical printout of your last 12 month bank activity. Not required by all Imm offices, but certainly by CM. Thus, if you don't update your passbook often, a consolidated entry might hide withdrawal activity not allowed. The 12 month report would see thru this.