New Retirement Visa Law Which Allows A Foreigner

[howard251]

Has anyone herd about this and could it be true?

From this website.

http://www.chiangmailaw.com/nonimmigrant.htm

In their web site they make a statement which is highlighted in RED below. Do you think it is poor English or is this a new Thai law for someone like me under the age of 50 who wants to retire early in Thailand? Pay attention to their words very carefully as they talk about the two different types of retirement visas. They talk about the one everyone knows about which states you need to keep 800,000 baht in a Thai bank and be over the age of 50. The highlighted statement below in RED states there is now a retirement visa for someone under the age of 50 so long as they can prove the savings of 3 million baht in a Thai bank.

RETIRED CRITERIA FOR ONE YEAR VISA:

1 year visas are now available for foreign persons under the age of 50 years who can show 3m baht in the Bank. Can be made in one day allowing you a 1 year visa.

Initially you must apply for a nonimmigrant visa before you enter the country from a Thai Embassy abroad. You go to any Thai Embassy abroad with bank account showing 800,000 baht min or 65,000 baht per month coming into your account with proof of and that you intend to go to Thailand to retire. This then enables you to hold a non immigrant O visa which we then can submit on your behalf for a year Retirement Visa. We charge 10,000 baht (takes 21 days) or express service is 15,000 baht (approx 2 days), to lodge once you are in Thailand. You cannot apply on a Tourist Visa.

Requirements: 1/. Application form T.M.. Copy of passport 3/. One 4 x 6 cm photo. 4/. 1900 baht fee. 5/. Proof of financial status or pension.5/. Applicant must be 50 years old overseas & proof of money of 800,000 baht in a Thai bank OR an income of not less than 65,000 baht per month must be presented. I

Pensioners arriving before Oct 1998 with unbroken records while living here only need 200,000 baht in a Thai Bank when they apply for an extension.

[Indo-Siam]

This is just a standard "Investor" extension that has always been available. I guess Chiang Mai Law is just dressing this up in another guise, to look clever.

The Immigration website is not operational at the moment -Saturday afternoon - but when it is functioning, go to: http://www.imm.police.go.th/nov2004/en/base.php. At center top, select "Required Documents". This brings up vertical menu bar center of page. Select "Extend Your Stay" - then go to the very last category in that section "... to invest a minimum of 3 million baht..."

This is a routine extension process. The word "retirement" has nothing to do with this type of extension, except in the imaginations of Chiang Mai Law.

Cheers!

Steve Sykes

Managing Director

Indo-Siam Group

Bangkok

[email protected]

www.thaistartup.com

[sriracha john]

Pensioners arriving before Oct 1998 with unbroken records while living here only need 200,000 baht in a Thai Bank when they apply for an extension.

<{POST_SNAPBACK}>

Is this portion of their website incorrect or misleading also?

[lopburi3]

Unlike the recent increase there was a grandfather clause when the new income requirements and age restrictions were changed for the retirement long stay visa so yes - if you were in the system prior to 1998 at the old 200k level it stayed at that level. Added incentive to remember that re entry permit and not lose your status.

[howard251]

As I understand it, the standard Investor visa requires you to invest 10 million baht in a Thai goverment bond for 10 years. It does not see logical to charge someone another 3 million baht after 1 year just to extend that type of visa. As I understand it a 10 million investment would let you keep extending year after year for a nonimal visa extension fee.

Maybe the rules have changed and there is now a visa which allows someone under the age of 50 to obtain a one year visa so long as they can show 3 million baht in a Thai bank? They mention nothing about Visa extensions in the Chaing Mai Law website when they refer to this new 1 year Visa for someone under 50?

[RDN]

Have a look here:

http://www.thaivisa.com/forum/index.php?sh...ndpost&p=256883

There's both a 10 million and 3 million type of visa.

[lopburi3]

As Steve said there is and has been another investment in the amount of 3 million baht that allows 1 year extensions of stay as long as the investment remains in place. It has been talked about often during the last year or so here but always with the provision that you get from the source and talk directly with immigration about it and not everyone seems to have knowledge about exact requirements.

[sriracha john]

Unlike the recent increase there was a grandfather clause when the new income requirements and age restrictions were changed for the retirement long stay visa so yes - if you were in the system prior to 1998 at the old 200k level it stayed at that level.  Added incentive to remember that re entry permit and not lose your status.

<{POST_SNAPBACK}>

Was this 1998 ruling also extended to marriage-based visa's or only "grandfathered" for retirees?

linguistically anyway, that makes sense to "grandfather" retirees...

[lopburi3]

The support Thai wife requirement was just changed last year and it was not grandfathered (although do not believe many have been turned down just for a lack of cash).

[Ajarn]

The support Thai wife requirement was just changed last year and it was not grandfathered (although do not believe many have been turned down just for a lack of cash).

<{POST_SNAPBACK}>

I know one case where a guy didn't get a one- year stamp because of funds, but they did tell him he could come in for a new stamp every ninety days, and no border runs needed... Since he has to report every ninety days anyway, he figures it's okay for him except that he has to pay 1900 baht for each extension...

[mbkudu]

The red part of the original post is disguised as the '3 million baht investor visa'.

It is still a current viable one year extension to a regular non-imm visa. It's a combination of cash, bonds or condos; as long as any of these add up to 3 million baht. This is not current news at all, but is still in effect. The Thai police link above will get you an officer Chalermpong. I had emailed him awhile back and he informed me that it is indeed an option for foreigners to pursue. Why that company calls it an under fifty retirement visa is weird.

Edited April 2, 2005 by mbkudu

[Ajarn]

The red part of the original post is disguised as the '3 million baht investor visa'.

It is still a current viable one year extension to a regular non-imm visa. It's a combination of cash, bonds or condos; as long as any of these add up to 3 million baht. This is not current news at all, but is still in effect. The Thai police link above will get you an officer Chalermpong. I had emailed him awhile back and he informed me that it is indeed an option for foreigners to pursue. Why that company calls it an under fifty retirement visa is weird.

<{POST_SNAPBACK}>

I remember reading here that the money had to be in one of the govt. banks... Has that been confirmed?

I made 3 applications last year for a one year extension based on 3 mill in the bank. Though CM Immigration advised that this was possible, they refused to put forth my application each time, insisting I extend my visa on the basis of my poor health. Each time I pointedly asked why they wouldn't send my application to Bkk, they simply shrugged their shoulders (literally) and said it might get turned down, but when pressed again for a reason for possible refusal, they said nothing. Just shrugged their shoulders again. Very confused about their actions (or lack of them)..

[RDN]

The red part of the original post is disguised as the '3 million baht investor visa'.

It is still a current viable one year extension to a regular non-imm visa. It's a combination of cash, bonds or condos; as long as any of these add up to 3 million baht. This is not current news at all, but is still in effect. The Thai police link above will get you an officer Chalermpong. I had emailed him awhile back and he informed me that it is indeed an option for foreigners to pursue. Why that company calls it an under fifty retirement visa is weird.

<{POST_SNAPBACK}>

I remember reading here that the money had to be in one of the govt. banks... Has that been confirmed?...

<{POST_SNAPBACK}>

http://www.thaivisa.com/forum/index.php?sh...ndpost&p=256142

[Ajarn]

The red part of the original post is disguised as the '3 million baht investor visa'.

It is still a current viable one year extension to a regular non-imm visa. It's a combination of cash, bonds or condos; as long as any of these add up to 3 million baht. This is not current news at all, but is still in effect. The Thai police link above will get you an officer Chalermpong. I had emailed him awhile back and he informed me that it is indeed an option for foreigners to pursue. Why that company calls it an under fifty retirement visa is weird.

<{POST_SNAPBACK}>

I remember reading here that the money had to be in one of the govt. banks... Has that been confirmed?...

<{POST_SNAPBACK}>

http://www.thaivisa.com/forum/index.php?sh...ndpost&p=256142

<{POST_SNAPBACK}>

Yes, and you replied..

The ones listed in the document are:

Krung Thai Bank

Government Savings Bank

Bank for Agriculture and Agriculture Cooperatives

Rattanasin Bank

Bangkok Metropolitan Bank

Siam City Bank

Government Housing Bank

What document? I didn't see any such info in the scanned document shown... Granted, it wasn't a clear scan, but you also said it was 4 years old...

And, yes, has there been any confirmation of this by anyone else?

Edited April 2, 2005 by Ajarn

[Phil Conners]

The support Thai wife requirement was just changed last year and it was not grandfathered (although do not believe many have been turned down just for a lack of cash).

<{POST_SNAPBACK}>

Do you mean to say someone has got their one year extension without having 400k in the bank? Tell me more - mine is up for renewal soon and I'm going to have to import a lot of cash to meet this new requirement (it was 200k last year) that I'd much prefer having in my safe offshore bank.

[Ajarn]

And, yes, has there been any confirmation of this by anyone else?

<{POST_SNAPBACK}>

Sorry for any abrupt sound in that response...

I guess I'm still looking for clues as to why CM acted so clueless when pressed. I did have a Kasikorn bank account, obviously not on the mentioned list that one might think would be common knowledge among CM Immigration folks. It does seem that this is an easy avenue for many, so applicants in CM wouldn't seem to be a rarity... Why wouldn't they answer with something so basic if it was known to be true?

But, again, I'm using common sense, and I realize that's my potential downfall in problem-solving this in my own mind..

[RDN]

....What document? I didn't see any such info in the scanned document shown... Granted, it wasn't a clear scan, but you also said it was 4 years old...

<{POST_SNAPBACK}>

OK, I'll photograph the inside of the document too and post it .

... I'd much prefer having in my safe offshore bank.

<{POST_SNAPBACK}>

I think we all kiss goodbye to earning interest on our one year's worth of visa money.

And, yes, has there been any confirmation of this by anyone else?

<{POST_SNAPBACK}>

Sorry for any abrupt sound in that response...

I guess I'm still looking for clues as to why CM acted so clueless when pressed. I did have a Kasikorn bank account, obviously not on the mentioned list that one might think would be common knowledge among CM Immigration folks. It does seem that this is an easy avenue for many, so applicants in CM wouldn't seem to be a rarity... Why wouldn't they answer with something so basic if it was known to be true?

But, again, I'm using common sense, and I realize that's my potential downfall in problem-solving this in my own mind..

<{POST_SNAPBACK}>

Abrupt? No!

Perhaps the guys at CM Immigration didn't know how to say "We think that this is the best and cheapest visa for you. Now bugger off!".

It's a bit like what happened to me at the London Thai Embassy, when I went there in 2001 requesting the forms for the same 3 million investment visa. At that time, most web sites and documents stated that the retirement visa qualification age was 55 and the poor guy at the embassy was getting very confused as to why I wanted these other forms. So he shoved me the retirement procedure and appropriate forms - visa application forms, personal data form, health certificate form - and basically told me to "bugger off". When I saw that the age had been reduced to 50, I understood why he was so confused: "Stupid farang wants to spend 3 million baht, when he can get a one year stay for 800,000".

[RDN]

Here's a montage of the relevant section of the document (not pretty, but readable):

- click this thumbnail to see a bigger picture.

[lopburi3]

The support Thai wife requirement was just changed last year and it was not grandfathered (although do not believe many have been turned down just for a lack of cash).

<{POST_SNAPBACK}>

Do you mean to say someone has got their one year extension without having 400k in the bank? Tell me more - mine is up for renewal soon and I'm going to have to import a lot of cash to meet this new requirement (it was 200k last year) that I'd much prefer having in my safe offshore bank.

<{POST_SNAPBACK}>

Believe there are many with income that do not have 400k in bank. What you need is a total of 400k per year so they are able to satisfy that requirement without the full amount in the bank. If you do not have a pension or such that your embassy will confirm perhaps moving the cash would be your only way.

[mbkudu]

And, yes, has there been any confirmation of this by anyone else?

Sorry for any abrupt sound in that response...

I guess I'm still looking for clues as to why CM acted so clueless when pressed. I did have a Kasikorn bank account, obviously not on the mentioned list that one might think would be common knowledge among CM Immigration folks. It does seem that this is an easy avenue for many, so applicants in CM wouldn't seem to be a rarity... Why wouldn't they answer with something so basic if it was known to be true?

But, again, I'm using common sense, and I realize that's my potential downfall in problem-solving this in my own mind..

Ajarn, I think with any drawn out immigration procedures a trip to Suan Plu in Bangkok is in order. They really are the final say in all of these matters. This is the place where all the other provinces get answers and send documents. It might be worth the short plane/train ride.

[aletta]

I'm going to have to import a lot of cash to meet this new requirement

Why not import,get the visa,and then export the cash back out again.

[Ajarn]

And, yes, has there been any confirmation of this by anyone else?

<{POST_SNAPBACK}>

Sorry for any abrupt sound in that response...

I guess I'm still looking for clues as to why CM acted so clueless when pressed. I did have a Kasikorn bank account, obviously not on the mentioned list that one might think would be common knowledge among CM Immigration folks. It does seem that this is an easy avenue for many, so applicants in CM wouldn't seem to be a rarity... Why wouldn't they answer with something so basic if it was known to be true?

But, again, I'm using common sense, and I realize that's my potential downfall in problem-solving this in my own mind..

<{POST_SNAPBACK}>

Ajarn, I think with any drawn out immigration procedures a trip to Suan Plu in Bangkok is in order. They really are the final say in all of these matters. This is the place where all the other provinces get answers and send documents. It might be worth the short plane/train ride.

<{POST_SNAPBACK}>

Yes, I agree. It's all water under the bridge at this point because I have my retirement stamp already, but there were lots of suspicious moves by immigration during that time... I also wonder if they simply didn't want Bkk to be involved in my case for some other nefarious reason.... There were definately some shenanigins going on which required some help from a concerned friend before things got back on the right track...

[masterchief]

THE WIFE AND I ARE BOTH ON "OA" RETIREMENT VISA'S WITH NO MONEY IN ANY THAI BANK. ALL I SHOW IS MY US TAX FORM FROM THE US MILITARY SHOWING I HAVE OVER 65000BT PER MONTH INCOME AND THAT IS ALL THAT IS NEEDED ...WE ARE NOW GOING ON OUR THIRD EXTENSION WITH NO PROBLEMS . ALSO SOMEONE MENTIONED A AUTO ONE YEAR EXTENSION IF YOU LEAVE THE COUNTRY AND RETURN!!!THIS IS TRUE. MY WIFE LEFT FOR THE U.S. AND RETURNED AND WAS GIVEN A AUTO ONE YEAR EXTENSION ON THE RETIREMENT VISA.

[Nam Kao]

Masterchief, are you over 50?

thanks

nam

[RDN]

THE WIFE AND I ARE BOTH ON "OA" RETIREMENT VISA'S WITH NO MONEY IN ANY THAI BANK. ALL I SHOW IS MY US TAX FORM FROM THE US MILITARY SHOWING I HAVE OVER 65000BT PER MONTH INCOME AND THAT IS ALL THAT IS NEEDED ...WE ARE NOW GOING ON OUR THIRD EXTENSION WITH NO PROBLEMS . ALSO SOMEONE MENTIONED A AUTO ONE YEAR EXTENSION IF YOU LEAVE THE COUNTRY AND RETURN!!!THIS IS TRUE. MY WIFE LEFT FOR THE U.S. AND RETURNED AND WAS GIVEN A AUTO ONE YEAR EXTENSION ON THE RETIREMENT VISA.

<{POST_SNAPBACK}>

Hi masterchief - please can you turn off your "caps lock" button? (It's not considered "polite" on the Internet).

You are quite correct - the monetary requirement is 800,000 baht in the bank OR 65,000 baht per month pension OR a combination of bank deposit and pension that adds up to the same.

When you say your wife got a "auto one year extension", I believe you mean that she got a new "Admitted until date" stamped in her passport of one year from the date she arrived.

Masterchief, are you over 50?

thanks

nam

<{POST_SNAPBACK}>

I think he and his wife must both be over 50 AND they have these "multiple entry" O-A visas that give you an "admitted until" date one year in the future each time you enter Thailand for the duration of the validity of the visa.

[Mike_99]

For this Visa I don´t want to buy Condo or put Money

in 0.5 % Fix-Deposit.

Possible also is to buy Bond Papers:

Buy bonds issued by a state agency or government enterprise. The bonds must be purchased directly from a state agency or government enterprise or an authorised dealer.

Source Document

The Khrungthai Bank offers a Goverment Bond with 2 Years and 3,15 %

But for example there is a 2 Year Goverment Bond with 7,75 % in U$

Thailand 7,75

But this without trading in the past 2 weeks.

This is not soo bad but maybe someone here is going the same way

and has better information on the bond.

[billd766]

The support Thai wife requirement was just changed last year and it was not grandfathered (although do not believe many have been turned down just for a lack of cash).

<{POST_SNAPBACK}>

Do you mean to say someone has got their one year extension without having 400k in the bank? Tell me more - mine is up for renewal soon and I'm going to have to import a lot of cash to meet this new requirement (it was 200k last year) that I'd much prefer having in my safe offshore bank.

<{POST_SNAPBACK}>

Believe there are many with income that do not have 400k in bank. What you need is a total of 400k per year so they are able to satisfy that requirement without the full amount in the bank. If you do not have a pension or such that your embassy will confirm perhaps moving the cash would be your only way.

<{POST_SNAPBACK}>

My support visa is due for renewal in September and as I was in BKK I went to Suan Phlu to check on what I need for the extension and I was told either 400,000 in the bank, or 40,000 a month or a combination of both to give the total of 400,000 baht.

If you are not sure a trip to Suan Phlu will clarify the position completely. I have always found the people there friendly and as helpful as they can be within the rules and if it is possible to do things to help you then they will.