Speculation On "extension To Stay" 800 000tbt Increase.

[ishmael]

Dear Sirs,

forgive this idle query. Does anyone know, or can anyone make an educated guess, on when the 800 000Tbt in a Thai bank account for a three month (to obtain an extension to stay on retirement grounds) will increase?

I do not know how many times it has gone up over the years. In my ignorance I have been given to understand that it was 200 000Tbt ten years ago (1998) and by two years ago it was the present sum. I imagine that it did not suddenly jump to the present rate. Does anyone know how many increases there have been and when and how much?

No one can accurately foretell the future but one must make reasonable plans as best as one may. I intend applying for an extension to stay on retirement grounds in the near future for this reason. I do not want to do it in two years time and have to show 1 600 000Tbt!

The information I have been given may well be antiquated and inadequate. I seek elucidation.

I thank you all for taking the time and trouble to read this.

Yours faithfully,

ishmael.

[Lite Beer]

It went up from 200,000 to 500,000 to 800,000.

It is any ones guess when next.

Get in quick before the next increase.

(6) For an alien who entered

Thailand before October 21,

1998 and continuously allowed

to stay in the Kingdom as a

retiree, the following shall

apply:

(a) He/she must be 60 years of

age or over and has regular

income. His/her bank

account deposit shall not be

less than Baht 200,000 a

year and evidence of the

account deposit for the

previous 3 months must be

shown; or he/she has a

monthly income of not less

than Baht 20,000.

( If he/she is under 60 years

of age but not less than 55,

the alien shall have regular

income with a bank

account deposit of not less

than Baht 500,000 a year

and evidence of the

account deposit for the

previous 3 months must be shown, or he/she has a

monthly income of not less

than Baht 50,000.

Edited August 10, 2008 by Lite Beer

[NotNew2You]

It's likely there will be future increases in the "money in the bank" necessary to quality for a visa extension for retirement purposes. However, no one can predict with any degree of accuracy when and what the new amounts will be. It is likely, that the increases would basically hold the nominal amount steady taking in inflation during the interval from the last increase. Basically, the gross amount of money might increase but the inflation adjusted amount would still roughly equal B 800,000 (in 2008 bahts). I mean, they do have to price their retirement product in relation to their regional competitors and they are in a sweet-spot..being a little more (but offering less) than the Philippines and being substantially less than Malaysia (but again, offering much less).

[Sophon]

It is likely, that the increases would basically hold the nominal amount steady taking in inflation during the interval from the last increase. Basically, the gross amount of money might increase but the inflation adjusted amount would still roughly equal B 800,000 (in 2008 bahts).

I don't believe this is a consideration at all when the people in charge decide what the amount should be. In my opinion (feel free to disagree) they are uncomfortable with the number of foreigners currently relocating to Thailand, and as long as the numbers rise they will continue tightening the requirements until they achieve the balance they want.

That said, with the economic downturn and all it's consequences, I think (hope) there is a good chance that no major changes will happen the next couple of years.

Sophon

[dave2]

800.000 no problem year on year .... one million .... problem ..... F...... K RIGHT OFF ..... bye bye Thailand ..... hello Cambodia @aprox 230 dollars per year ( or 150 Quid ish ) with no NO HASTLE ... NO problems with immigration .... SIMPLE . bye bye Thailand

[Jingthing]

In any case we can reasonably expect from previous rulings, that those on lower levels including 800K will continue to be grandfathered at their current levels, as long as they maintain continuous extensions.

Edited August 10, 2008 by Jingthing

[mahjongguy]

Does anyone really think that 800,000 is acceptable but 1,000,000 is not acceptable?

Why? This is not a fee. No one is taking that money from you. It's still your money, sitting in your bank account. And it's only there because you chose not to provide any proof of income.

[NotNew2You]

In my opinion (feel free to disagree) they are uncomfortable with the number of foreigners currently relocating to Thailand, and as long as the numbers rise they will continue tightening the requirements until they achieve the balance they want.

I agree with your basic premise that they use the monthly or annual income requirements to regulate the "quality" of the retirees. I would just argue that at B 800,000 (and increased periodically for inflation) is about where they want want the figure. It is high enough to keep out those why may not really have sufficient funds to retiree overseas but not so high as to keep 95% of people who desire to retire to Thailand from doing so.

Don't forget, it's only B 800,000 in the bank...not that one has to spend that much per year. So anyone who uses this form of income/asset declaration need only have about US$ 24,000 to place and keep in a Thai bank.

[Mentors]

we should not make topic just about speculations.

I think there are here already to much unessesary topics here.

For someone who look after real and useful informations, this forum can give headache.

Edited August 11, 2008 by Mentors

[lopburi3]

Your point about being confusing is valid but I suspect the reason for a forum is to answer speculation and rumors and that posters are likely to get much better feedback here than at the local watering hole.

[Mentors]

Your point about being confusing is valid but I suspect the reason for a forum is to answer speculation and rumors and that posters are likely to get much better feedback here than at the local watering hole.

this is true too

[jackspratt]

Your point about being confusing is valid but I suspect the reason for a forum is to answer speculation and rumors and that posters are likely to get much better feedback here than at the local watering hole.

None so far - just more speculation. Which of course is where these types of threads invariably lead, and why they have been cut off in the past.

As they should be.

[lopburi3]

This thread is about speculation. And in my opinion has just as much right of being here as any other visa related question. In this specific case a history of previous actions has been proved; the use of grandfather provisions has been mentioned; it has been pointed out the money is not bond and can be used for most of the year; alternatives have been provided. This is information exchange; and what we are about.