Finance For Retirement Visa

[geoff_uk]

My retirement visa is due for renewal soon and I will need extra money to meet the visa requirements. A number of people have said its possible to get a short time loan. Figures of 15,000-20,000 baht fee have been mentioned and with potential lenders being visa companies, banks and even immigration officials. But nobody I know has done it or knows the specifics. Is this just another rumour?

[Mobi]

I know of a guy in BKK who has renewed his retirement visa for the last 2 years by utilising the services of a 'financier', and I don't believe it cost him anywhere near the amounts you have mentioned.

However, he got this financier through a lawyer who was doing other stuff for him so he might have got a cheaper rate than someone off the street.

If you can go to BKK and do your visa there, then let me know and I'll PM you a contact number that might help.

[Artisan]

No, it's not a rumour. I know two people who have done this, at the old Immigration Office in Soi 8 and at the new premises in Jomtien.

Even though you have insufficient savings or income, it's possible to obtain a 12-month extension of stay to your visa from Pattaya Immigration. It's necessary to open a savings account in a nominated bank in Pattaya and then they will deposit 800,000 baht in this bank and this deposit can be used to satisfy the criteria. This will cost you 15,000 baht for the use of this money for 24 hours. However, you cannot withdraw this money as the account is frozen and the money can can only be removed by the Immigration Office.....but I'm sure that you would know that.

[geoff_uk]

No, it's not a rumour. I know two people who have done this, at the old Immigration Office in Soi 8 and at the new premises in Jomtien.

Even though you have insufficient savings or income, it's possible to obtain a 12-month extension of stay to your visa from Pattaya Immigration. It's necessary to open a savings account in a nominated bank in Pattaya and then they will deposit 800,000 baht in this bank and this deposit can be used to satisfy the criteria. This will cost you 15,000 baht for the use of this money for 24 hours. However, you cannot withdraw this money as the account is frozen and the money can can only be removed by the Immigration Office.....but I'm sure that you would know that.

Thanks. Just to be clear, are you saying that Thai Immigration supply the money to get round their own rules? Is there a particular officer to talk to?

[Artisan]

Thanks. Just to be clear, are you saying that Thai Immigration supply the money to get round their own rules? Is there a particular officer to talk to?

I wouldn't say that they are "getting around their own rules" or even bending them. One of the criteria options is that you must have at least 800,000 baht in the bank at the time of your application.....where it comes from and how long you have it aren't factors here...although you have to meet the criteria anew at every subsequent application.

I can't answer your second question.

[kippers]

I too would be very interested in more precise and detailed information on this matter, rather than general comments.

If anyone is able to offer some good and accurate info please PM me

thanks in anticipation.

[naka]

Time to sell the Honda Dream and the microwave to pay for a trip back to Farangland,

to get a job and finance the next Retirement ?

Naka.

Edited May 9, 2006 by naka

[Noel]

Thanks. Just to be clear, are you saying that Thai Immigration supply the money to get round their own rules? Is there a particular officer to talk to?

I wouldn't say that they are "getting around their own rules" or even bending them. One of the criteria options is that you must have at least 800,000 baht in the bank at the time of your application.....where it comes from and how long you have it aren't factors here...although you have to meet the criteria anew at every subsequent application.

I can't answer your second question.

Ermmm, I would!

One of the criteria is that the funds must have been transferred in a foreign currency from overseas.

Also, the whole basis of the rules is to demonstrate that you have sufficient funds (their definition of course) for one year.

Whilst you may be able to get round it in some offices at the moment, things might not be so easy the next time around should some jobsworth ask you to explain how you have been funding yourself...

[astral]

Short term loans from Thais can cost as much as 10% per month.

[Mobi]

Short term loans from Thais can cost as much as 10% per month.

But that still only works out at a couple of grand or so a day, assuming he needed the whole 800k, which is unlikely. I'm sure the guy I know in BKK paid around 2K.

15K sounds like a lot of dosh, like 684% per annum, or 57% per month. Oh, I know, its this dual pricing thing kicking in again.

[Chopper]

Mobi, you just want to start the dual pricing debate off again...

[Mobi]

Mobi, you just want to start the dual pricing debate off again...

Now why would I want to do that?

Mabprachan is a dual price free zone - didn't you know? The Thais get charged exactly the same extorsionate prices in Driving Street as the farangs.

What's all this got to do with financing visa renewals?

Edited May 9, 2006 by Mobi D'Ark

[geoff_uk]

If it was straightfoward I would have expected someone on the board to know some specifics. As I suspected it sounds a bit too 'dodgy'. Without specifics it sounds too much of a risk. When obtaining my earlier visa the letter from the bank had to specify that the money came from abroad and the office in Pratchauapkirikhan wanted to know full details. There may be some officials in immigration who are arranging some visas in this way with the help of bank officials but I would not want to test it out.

I happily can afford to transfer sufficient funds to cover the requirements and will not have to sell the bike and go back and work. However, I will lose interest equivalent to of about 40,000 in doing so and flexibility in managing my income and being a cheap charlie thought it worth asking. Thanks for (most) the responses.