800.000 baht law

[napoleon3]

Hello everyone,

I would like to ask asimple question:

Can anyone, tv member or tv staff tell me in what year the 800.000 bath regulation was issued ???

I would appreciate any correct answer, even approx.

Thank you all.

Napoleon 3

[johnnybgood]

I'd put a fiver on early 2004....

[lopburi3]

Suspect you are talking about baht rather than bathing and in reference to retirement extensions of stay - and that 800k figure is for applications from Oct 21, 1998 onward - the old law was a still found in Police Order 777:

(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 50,000 baht

[Rooo]

Moved to Visa Forum.

[napoleon3]

I'd put a fiver on early 2004....

Thank you very very much for your really very fast answer.

Sure do appriciate it.

[napoleon3]

Suspect you are talking about baht rather than bathing and in reference to retirement extensions of stay - and that 800k figure is for applications from Oct 21, 1998 onward - the old law was a still found in Police Order 777:

(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 50,000 baht

Sorry, of course I mean Baht , I made a mistake.

If I understand well, in 1998 the ammout was 200.000 baht and in 2.004 raised to 800.000 baht ???

Sorry again for my spelling, I really try to do it correct.

Thank you very much.

[connda]

Suspect you are talking about baht rather than bathing and in reference to retirement extensions of stay - and that 800k figure is for applications from Oct 21, 1998 onward - the old law was a still found in Police Order 777:

(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 50,000 baht

1998 or in other words, right after the 1997 financial crash here in Thailand. The baht crashed against Western currencies, and up the financial requirements went for farangs in order to compensate for Thailand's devalued baht.

However, I'm waiting for the day went the Western currencies crash against the Baht (and I'm thinking this may be a scenario we see within the next ten years). Then let's watch the Thai authorities drop the financial requirements back down? If a Western currency devaluation happens, and I believe it will, watch the exodus of farangs leaving the LOS who no longer meet the income requirements. The Thai government will get it's wish: the only farangs left standing will be "quality" farangs. Really hate to think how many farang/thai families will be broken up if that day comes. I think Thai Buddhist compassion will dry up when that day comes.

So personally, I think it's wise to stash your extra ฿฿฿ away in a Thai bank account until you meet the base requirements for your type of visa (marriage or retirement). If you're relying on monthly income, I think you're 'playing chicken' in a financial system that is actively being gamed by banks in the West. Remember the old adage: What goes up, must come down. Study history.

[kokesaat]

I've kept a journal since we arrived in 1996. 2004 was the first year I applied for a retirement extension. All years prior were marriage extension.

[Mario2008]

off topic comments removed.

[ubonjoe]

I am thinking it was 2003 when they changed it to 800k baht and set the grandfathering before the 1998 date.

There may of been an interim period when they allowed a lower amount for a year or so to give people time to make adjustments.

[lopburi3]

It was not just an increase in required amount - the age was changed from 60 to 50 years old which opened the door to a great many more applicants (prior there were two tiers with a higher 500k required for the lower 55 - 60 age)

[napoleon3]

Hello again.

I have one more question :

Are there more country's with simmilar rules or is Thailand the only one ?

Thank you for any comment and thank's again for your previous reaction.

Bye bye.

[phuketrichard]

I had to show 800,000 back in 2002, my 1st retirement extension

but back than it only had to be in the bank at the tome you applied for the extension. not even a full day.

[mahjongguy]

Are there more country's with simmilar rules or is Thailand the only one ?

There are very few countries in the world that offer retirement stays (long-stay based on age plus assets or income).

Other than Thailand the only two in SE Asia are Malaysia and the Philippines. You can google the details for those countries.

Then you could look further if you wish. Costa Rica and Panama seem like possibilities.

[lopburi3]

Hello again.

I have one more question :

Are there more country's with simmilar rules or is Thailand the only one ?

Thank you for any comment and thank's again for your previous reaction.

Bye bye.

All countries that I am aware of have some type of controls on those wanting to stay long term for retirement - others would not be in baht but in many cases there will be financial deposit requirements. Malaysia and Philippines are two local examples.

[NE1]

I still don't understand why it is 400,000 baht to look after you and your wife for a year , and 800,000 baht for looking after yourself ( retirement ) for one year.

Who does the calculations ?

[ubonjoe]

I still don't understand why it is 400,000 baht to look after you and your wife for a year , and 800,000 baht for looking after yourself ( retirement ) for one year.

Who does the calculations ?

Because the wife is Thai and could be working and providing additional income.. Also the fact that the extension is done for humanitarian reasons is another consideration.

There are lots of foreign couples that are getting extensions with only one of them having to show the 800k baht in the bank.

[VIPinthailand]

because wife is Thai and can cook at home! having a Thai wife is cheaper.

[petercool]

Off topic post removed

[chrisinth]

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because wife is Thai and can cook at home! having a Thai wife is cheaper.

Having a Thai wife is cheaper?

That statement could be open to debate..................

If you had said becoming a Thai elite member would be cheaper, I could go with that..................

[WhizBang]

because wife is Thai and can cook at home! having a Thai wife is cheaper.

Oh dear, I must have gotten a dud.