Retirement visa overhaul in the wind, gangs run out of town : Tim Newton Today - August 2

[Doctor Tom]

9 hours ago, grain said:

For a couple of years now I've been expecting the retirement ext requirements to change. My guess is the 800K will see a 50% jump to 1,2M, perhaps even doubled to 1,6M. Police clearances from our home countries could also become a condition for extensions, plus compulsory health insurance. Anyway, these are just my guesses. If such changes did come in hopefully we'll get grandfathered on the existing regulations. If not it'll be adios Thailand for many of us.

That will just mean that Agents will get rich, as will the IOs involved with them.  The 800K was/is a smokescreen to the same situation, it just benefited those dealing below the rules.  It was ever thus here.  

[LatPhrao]

9 hours ago, proton said:

All speculation, but whatever they do re the requirements they need to close the loophole allowing officers to take bribes to ignore them, as well as extensions being issued to those from other provinces. If they don't, upping the requirements will just increase the corrupt agents business

Ahh yes, a personal wet dream come true.  Guess whose...    Agent business for as long as necessary vs the crackpot measures know as 'legal'. 

[Don Chance]

3 hours ago, Neeranam said:

Not a lot of money for immigration bosses. They make huge money from all the illegal immigrants  20/30k a time. 

But if you invest it to earn $2,300 a year, you will not be able to spend the invested amount if you die in Thailand. 

 

Maybe the govt should copy the US and make retirees invest in Thai companies to get their visa. Currently $500,000 in the US. 

 

Where do you get 10 %? 

 

JEPQ

[Neeranam]

27 minutes ago, Don Chance said:

JEPQ

Thanks but no thanks, for moral reasons I wouldn't bank with JP Morgan. I get 19% with my Polkadot in a non-custodial wallet. 

 

Edited August 2, 2023 by Neeranam

[Ben Zioner]

9 hours ago, redwood1 said:

So would requiring 1.2 million instead of 800,000 prove anything or help anyone?........Nope it sure would not....It would just tie up more money that could not be spent in the economy....

I don't think it would. But I am of the opinion that they should enforce a 4 month stay in the home country every couple of years. A way to ensure that these visas are truly "Non resident". 

[Jingthing]

21 minutes ago, Ben Zioner said:

I don't think it would. But I am of the opinion that they should enforce a 4 month stay in the home country every couple of years. A way to ensure that these visas are truly "Non resident". 

That's ridiculous.

No other retirement visa scheme in the world does such a ridiculous thing.

Also O visas are non-immigrant, not non-resident.

[mania]

This raising the financial requirement is not a surprise if it does come true.

 Malaysia did a big increase awhile back

 

What does not help is all the Go Fund Me pages that constantly pop up

We do not actually hear about all of them but they are out there

Yes even among the so called self insured "I have money" folks ????

 

There is a new one right now with a popular Youtuber  from the USA who brought his mom over to live. He bought her a small Chinese electric tuktuk style cart which promptly flipped over on her & now they have a  Go Fund Me to pay her 15k bill for a new hip. ????

 

These do not go unnoticed by Thailand & truthfully seems most of this kind of talk started back when another YouTuber did a go fund me for a heart bypass & later died

 

These folks tell Immigration in not so many words that they cannot in fact afford to live in Thailand

Edited August 2, 2023 by mania

[JensenZ]

12 hours ago, Neeranam said:

Let's hope they do away with visa agents and lock up those who use them and make it difficult for the honest retirees. 

You made it! Your favourite topic - visa agents. How about you edit your comment to "I hope" as you don't speak for the rest of us.

[whereyougo]

15 hours ago, Hanaguma said:

Malaysia recently did a big overhaul of the MM2H program and it has seen numbers drop significantly.  Makes places like the Phils and Cambodia look more attractive by the day. Heck in Cambodia all it takes is $170 for a one year visa.  No signing in, no reporting, and it is multiple re-entry as well. I think in the Philippines you just need $10,000 for your visa. Or you can pretty much stay for 3 years by renewing and renewing your original visa free entry. 

 

A mistake IMHO if the financial requirements in Thailand are raised. Stricter enforcement, perhaps making the rules less subject to regional variations and the whims of individual immigrantion officers, those would make sense. 

Wow only $170 that's brilliant only drawback is you actually have to live in that <deleted> hole 

[pomchop]

13 hours ago, proton said:

No such thing as a visa food chain, you are either paying bribes because you cannot or dont want to meet the requirements, or you are doing things legally.

So you play by the rules and deposit 800 k in a Thai Bank. 

 

Then you listen to others brag about how they paid an agent $1300 who somehow magically got them a bank book that showed they had the required 800 k in the bank though they did not have anywhere near that amount...then the agent takes that bank book to immigration along with some nice fat envelopes and bingo a retirement visa is yours and poof the 800 k that was supposed to be in their bank never existed.  I have long thought that there will come a day when immigration will crack down on this and fine or even deport people who do this...and of course the agent who took their $1300 usd or so are not gonna be handing out refunds.

 

  Of course that would require a lot of mr bigs in immigration to give up who knows how many zillion baht a year paid to them by agents.

 

I find it a bit strange that I have heard a lot of ex pats brag about how they bribed their way to a retirement visa and then later whine about all the corruption in Thailand.  I do think if I ever did it this way I would not go around bragging about it to people who did it per the rules.

[jerrymahoney]

I use the 65K per month retirement extension. Should that be raised to the hypothetical 100K baht, I would do 1 of 2 things:

 

Switch to a marriage extension or

Send periodically a chunk of that 100K back to my US account using DEE Money.

 

[Gknrd]

That will be the final death blow for SS retiree's and even retiree's with savings as well as SS income from the US. As well as Australia, UK, and others I suspect.  That motorcycle gang BS will be used as a battle cry for Thai politicians and rich to wipe out the rest of western retiree's.  

But, it has been coming for years.

[redwood1]

15 hours ago, Neeranam said:

If I was retired, I think I could find time for half a day's work in immigration and photocopy shop. In fact, I think I would enjoy it to meet some other foreigners. 

 

If all said 'no' to these agents, immigration wouldn't keep making things harder for the honest ones. 

 

Actually 6,000 baht to check your papers is way over the top, and I really can't see what they do to earn that! 

 

 

Sir I sincerely  hope what ever visa your using you loose it.....After reading all your many ...Me and my visa are superior......boring....... posts in this thread..

[simon43]

35 minutes ago, redwood1 said:

Sir I sincerely  hope what ever visa your using you loose it.....After reading all your many ...Me and my visa are superior......boring....... posts in this thread..

Neeranam is Thai (he acquired citizenship). So he doesn't need a visa and unless he makes a public rant against HM King I doubt that his citizenship will be revoked....

 

As for me, I no longer worry about 800,00 baht and agents.  I live in Laos and my agent visa costs just $500 per year with no money in the bank required ????

[Neeranam]

5 hours ago, JensenZ said:

 How about you edit your comment to "I hope" as you don't speak for the rest of us.

Those breaking the law don't count. 

Most who get their visa legitimately would like to see visa cheats stopped, as they, and the agents who organise the bribe, make things much harder and time consuming for them. 

[Neeranam]

2 hours ago, redwood1 said:

Sir I sincerely  hope what ever visa your using you loose it.....After reading all your many ...Me and my visa are superior......boring....... posts in this thread..

Where did I mention my visa? 

[Neeranam]

3 hours ago, pomchop said:

So you play by the rules and deposit 800 k in a Thai Bank. 

 

Then you listen to others brag about how they paid an agent $1300 who somehow magically got them a bank book that showed they had the required 800 k in the bank though they did not have anywhere near that amount...then the agent takes that bank book to immigration along with some nice fat envelopes and bingo a retirement visa is yours and poof the 800 k that was supposed to be in their bank never existed.  I have long thought that there will come a day when immigration will crack down on this and fine or even deport people who do this...and of course the agent who took their $1300 usd or so are not gonna be handing out refunds.

 

  Of course that would require a lot of mr bigs in immigration to give up who knows how many zillion baht a year paid to them by agents.

 

I find it a bit strange that I have heard a lot of ex pats brag about how they bribed their way to a retirement visa and then later whine about all the corruption in Thailand.  I do think if I ever did it this way I would not go around bragging about it to people who did it per the rules.

Good post. Those who are honest should maybe set up a group to stop the corruption. 

There are Thai politicians who could help. 

I've heard some brag about only bribing $500.

[save the frogs]

someone mentioned that if you keep 800K in a thai bank, it's not gaining interest.

 

but a lot of retired folks who stay in their home country will travel during winter months, so that costs several thousand per year anyway. 

 

[Hamus Yaigh]

22 hours ago, grain said:

For a couple of years now I've been expecting the retirement ext requirements to change. My guess is the 800K will see a 50% jump to 1,2M, perhaps even doubled to 1,6M. 

Why on earth would you be expecting that? If you are really expecting such, why not expect quintuple or even ten folding the numbers? After all you would have simply pulled all these figures out of the same orifice?

[scottiejohn]

34 minutes ago, save the frogs said:

someone mentioned that if you keep 800K in a thai bank, it's not gaining interest.

No you can put money into interest bearing accounts as long as they are instant access!

[Olmate]

52 minutes ago, Neeranam said:

Good post. Those who are honest should maybe set up a group to stop the corruption. 

There are Thai politicians who could help. 

I've heard some brag about only bribing $500.

As a Thai you would be the ideal  candidate : probably best to run it by "The Joker" first tho for a risk assesment and cost benefit consideration!... lol.

[ezzra]

It will all come down to how Thailand views the retirees and their contributions, if any, to Thailand's economy, the fact that us, the LTR's and the retirees, are not excellently the apple of their eyes it not a secrete, having said that.

[redwood1]

1 hour ago, Hamus Yaigh said:

Why on earth would you be expecting that? If you are really expecting such, why not expect quintuple or even ten folding the numbers? After all you would have simply pulled all these figures out of the same orifice?

Just make the required money for a O visa 1,000,000 USD or (34 million baht)........That will keep out all the riff-raff and low lifes.........Everyone knows rich people are all good, kind and quality people.....And the middle class and fixed-income people are unpleasent and they are very far from being quality people..

Edited August 3, 2023 by redwood1

[Hanaguma]

7 hours ago, whereyougo said:

Wow only $170 that's brilliant only drawback is you actually have to live in that <deleted> hole 

You might be surprised... I went back to Cambodia last year to SiemReap and Phnom Penh. Hadnt been there in nearly 10 years and the change was quite remarkable.  Lots of good food, cafes, the streets are paved, rent is cheap, very nice people.  

 

Another option for the adventurous is India!  You can get a 5 YEAR multiple entry tourist visa for USD $80.  Only catch is that you have to leave the country every 3/6 months (depending on your country of origin).  Otherwise no restrictions.

[pegman]

9 hours ago, mania said:

This raising the financial requirement is not a surprise if it does come true.

 Malaysia did a big increase awhile back

 

What does not help is all the Go Fund Me pages that constantly pop up

We do not actually hear about all of them but they are out there

Yes even among the so called self insured "I have money" folks ????

 

There is a new one right now with a popular Youtuber  from the USA who brought his mom over to live. He bought her a small Chinese electric tuktuk style cart which promptly flipped over on her & now they have a  Go Fund Me to pay her 15k bill for a new hip. ????

 

These do not go unnoticed by Thailand & truthfully seems most of this kind of talk started back when another YouTuber did a go fund me for a heart bypass & later died

 

These folks tell Immigration in not so many words that they cannot in fact afford to live in Thailand

I know who you are writing about. The guy is a complete air-head. What person in their right mind buys a heavy vehicle that needs to be manually reversed for an over weight woman in her 70's with mobility problems?

 

Him and the wife live rent and board free with the in-laws up in Issan. Convinces mom to sell everything she owns then moves her to Asia. Sets her up 15 hours away next to friends that will in essence act as her free caregivers. His bragging about how great it was to retire early by getting others to pay for his major expenses drove me to stop watching. The worse was when Chucky outed his friend's wife out as a former Pattaya bargirl. The couple have 2 teenage sons going to school in the states. Saw right then what despicable character the goof has. I got the sense that mom and wifey are not on great terms. 

[lordgrinz]

1 hour ago, redwood1 said:

Just make the required money for a O visa 1,000,000 USD or (34 million baht)........That will keep out all the riff-raff and low lifes.........Everyone knows rich people are all good, kind and quality people.....And the middle class and fixed-income people are unpleasent and they are very far from being quality people..

The only people who would bring in 1,000,000 USD would be criminal enterprises using laundered money, nobody else would be dumb enough to place 1,000,000 USD in a Thai Bank.

Edited August 3, 2023 by lordgrinz

[Neeranam]

Bikie gangs from Australia are here just because they can't wear their colours there. How childish. 

 

[Neeranam]

19 minutes ago, lordgrinz said:

The only people who would bring in 1,000,000 USD would be criminal enterprises using laundered money, nobody else would be dumb enough to place 1,000,000 USD in a Thai Bank.

I think the money has to be invested in Thai property or businesses, so would get a return. A million dollar house could easily get $50k a year. 

[Neeranam]

26 minutes ago, Hanaguma said:

Another option for the adventurous is India! 

I learned yoga there 30 years ago for 6 months. Truly awesome country and the people are much friendlier than Thailand.  

[Neeranam]

I like Tim Newton, good material, well presented, and unlike many others, can pronounce Thai names properly.