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Posted

To claim that "its a piece of cake" to be expat in Thailand e.g. 90day report, extension, Cert. of R. and what not is just not my opinion but then again "I can just get out if I dont like it" ...

Posted

There's a special deal for Americans, because they don't have to produce a bank statement - only a statement from their embassy that they have the required funds. I understand this special deal is related to military aid provided by the US. It is a sham, because I know two retired Americans living here who would be lucky to scrape together 10,000 baht.

Personally, I think 800,000 baht is a reasonable proof that retirees can support themselves in Thailand. If it was doubled to 1.6 million, there would probably be a bit of an exodus, because then that's tying up too much capital.

Posted (edited)

There's a special deal for Americans, because they don't have to produce a bank statement - only a statement from their embassy that they have the required funds. I understand this special deal is related to military aid provided by the US. It is a sham, because I know two retired Americans living here who would be lucky to scrape together 10,000 baht.

Personally, I think 800,000 baht is a reasonable proof that retirees can support themselves in Thailand. If it was doubled to 1.6 million, there would probably be a bit of an exodus, because then that's tying up too much capital.

You have just posted outrageously false information.

There is no special deal whatsover.

It is true the U.S. embassy does not require documentation to get bank income letters but they must swear they are being truthful and Thai immigration can (and sometimes does) demand additional evidence to back up the income claims in the letter of Americans (and other nationalities as well).

Also, the U.S. is NOT the only embassy issuing these letters without proof of the income.

You might know some Americans or other nationalities who are lying about the income they state for that letter. That's unfortunate but has nothing to do with a special deal.

Edited by Jingthing
  • Like 1
Posted

You can also provide affidavit for 80k baht monthly income. You need to get the affidavit notarized by the embassy responsible for your passport.

It can be a combination of pension income and cash in account... my pension is just below 60k (Ausie $ has tanked!)... my cash is in an investment acct in OZ... need to provide statement verified by Ausie Embassy.. as well as pension verification (deposits on bank statements).. again signed by Embassy... you do not need to have 800k in a bank in Thailand... if you can do the above..

Posted

Absolute garbage, I would say that the majority of expats that live here legally by other means, and will never have 800.000 Bt, are as good and decent as anybody who does have.

What about people who use marriage extensions, with 400.000 Bt in the bank, or multiple entry marriage visas, leaving the country every ninety days, or have 40.000 Bt per month coming into the country.

Try thinking before you write such nonsense.

  • Like 1
Posted

That's interesting.

I am well aware of the combo method but I have never heard that the bank portion being OUTSIDE Thailand is EVER accepted.

Very surprising.

The combo method is simply showing the embassy income letter PLUS banked money (generally in a Thai bank account) totaling over 800K annually.

For example, annual income 500K plus 300K in a Thai bank account ... though of course you'd be crazy to cut it that close for the bank account portion given exchange rate fluctuations.

Posted

Nobody lives on 27K a month, they exist. That's why

27,000 divided by 30 days in a month is 900 baht a day...three time the current 300 baht minimum wage in Thailand. Call it existing or living, I expect the majority of the Thai population gets by on 300 baht a day.

If you increased the minimum wage overnight threefold to 900 baht Thais would feel absolutely rich.

Yeah, some minimum wage Thais may think themselves rich at B900/day, but a farang has to live like a Thai to make it on that.

B900/day; that should be enough, except for the days you want a steak, or lobster, or a bottle of wine and don't want to eat alone.

However, the other days should be fine except for the day you pay the rent—how many days was that? Except the day you pay the utilities, cable and internet—how many days was that? Except the day you decide to take a friend to a beach resort for a week-end—Except the day you had to pay the clinic for that rented scooter accident you had—Except the day you had to do a visa run and spend the night—Except the day your buds came into town and you partied hearty—Except those new clothes you needed—Except that scooter you want to buy—Except . . . I think you have the idea.

It appears the Thais know it will cost a farang more to exist here than it does a Thai—for starters, farangs neither have the family network nor the local status Thais enjoy here.

Let’s look at that arbitrary number, B800k. At 34/1 to the USD, is $23, 529. Monthly, that is $1961/mo, or B66,667/mo—which is close to the B65k/mo retirement income requirement.

At B65k/mo, is $1911/mo, $63.72/day—almost B2,167/day. That, my friend, imo, that is a much more manageable amount for a farang to live “well.”

If your entire life is dependent upon seeing the prices on the right of the menu—you choose lowest cost—then join the game, try to live as cheaply as possible. There are folks who have little money and have to live as cheaply as possible. I applaud them for doing that; if they do not have the ability to earn more and they are managing "well."

However, if you would rather go through life not looking or caring—within reason—about the right side of the menu; you'll need more money. Either you plan for it in your youth—skills acquisition, business entrepreneurship, investment venues, a pensioned job, etc.—or you fall into it as you age; somehow, you have earned whatever you have.

From my perspective, the end result should be a financial position where you and yours can always pay for your ever-changing daily wishes, but you’re never broke. The asset-amount needed to achieve this is what I call the “point of attainment” (POA).

Of course, each person’s daily wishes are different. Therefore, a personal financial rationalization must occur to reach a target POA; add up everything you think you need, drop the unnecessary ones, and decrease the expenses wherever possible.

For example, when the company pays; stay in mansions, drive Mercedes, and fly first-class. When you are paying; stay in nice lower-cost places, drive a Toyota—maybe even have a Harley—and fly economy; well not Air Asia.

Then, add 50% of that POA for an expense-buffer (POA+B). That buffer helps for unscheduled expenses like vehicles, furniture, electronics, travel-escapes, medical, vacations, and that odd personal expense. Of course, additional investments are always advisable; who knows when you decide you deserve more and demand a higher POA for yourself?

Posted

Interesting thread... Does the UK and USA have this type of retirement policies for non-nationals? I believe this double standard is what PO most.. Yes, keep money for a rainy day, take care of your health.. Certainly Thailand Health Care system is challenged taking care of its own aging population.. however the concept of care in old age for Thai is different, as the family takes care of their own.. most of the time... rather than the nursing home option.

YES... if you can't make the 800k or 400K requirement then the Thai GOVT.. does not want you here, as they will consider you a burden.. real or perceived.

Again it is their call, fair or not.. that is the hoop we must jump to stay in LOS..

Generally most make it...or you find a way..

thumbsup.gifcoffee1.gif

Yes there are ways for them to find, legally of course, and they are not "the sort of people Thailand don't need" as one poster put it.

Posted

Another reason I think they should cut a better break for retired expats who own real estate which would legally be condos. While that's not a Thai person, they also have a "real" connection to Thailand owning their home here.

The problem with real estate is that you may own a condo and that is cool. BUT you can not eat a condo or pay bills.

The 800 is a hurdle for the first year and that is why you get a year to put it up. After that it is just a case of showing that you still have it and can afford to keep that much money in a bank and still live days to day.

At least they are not asking for you to have a gold plated health insurance plan.

Personally and yes I am retired I find it a lot easier to do this than anything else.

Most people that are retired should have some sort of savings.

Thailand is not the USA where anyone can just come in and live. THANK GOD

They are setting rules and sticking to them for the most part.

Posted

You can buy a 50 million bht condo but you still have to cough up the 800k, of course it probably wouldnt be a problem, but why?.. its the inconvenience of having to line up at immigration every few months

No, 10M Bt investment in new real estate or Govt. bonds, is enough to qualify for an extension of stay.

That almost sounds to logical.

--------------------------------

Supposedly, so the foreigner has a cushion to fall back on.... they will tell you that as a retiree living in Thailand the 800K in a Thai bank is there in case you need hospital treatment in Thailand.

In actuality:

  • the 800K Thai Baht is really to benefit the Thai Bank (foreign currency asset hedge)
  • It demonstrates and consolidates the Thai government control over a retirees future while they live in Thailand.
  • For the same reasons that you need a Thai drivers license if you drive in Thailand
  • Because that's the law,

Maybe not entirely logical or valid reasons but that is the excuses they use.

As I said to someone last night on this forum..... governments are not logical entities.

Their purpose is to maintain and demonstrate control over the population for the benefit of the majority of the population, not the individual and maintain a standard of order in the population.

This is a standard practice idwiden all governments worl....whether that government is a dictatorship or a so called Democracy.

The difference is only in degree of control, the real reason for government control of individuals is so that the government can maintain control over the majority of it's good citizens (the so-called law abiding citizens) for the benefit of that government.

But enough of that, I'm getting off-topic again, so I'll drop it here.

Their purpose is to maintain and demonstrate control over the population for the benefit of the majority of the population. Not the UK government it's not. It's for themselves.

Posted (edited)

Well there are country's to name one Belize I think if you can show 2000 U S Doallars a month you can retire there after a year bring in duty free a car and household stuff even a boat.No problem and yes the house is in your name with land

Have you ever lived in Belize?

I cannot imagine anyone actually wanting to retire there

As I slide down the long banister of life I will always remember Belize as the splinter up my a*se

Edited by ResandePohm
Posted

Because they don't want the trailer folks move here.

Well, judging by some of the folks I see out and around town these days, that doesn't really seem to be working.

Of course, there are all kinds of different ways, legal and illegal, for folks to end up staying in Thailand -- not just retirement extensions or visas.

So just having a financial requirement associated with retirement extensions/visas is hardly ensuring the "quality" farang resident here.

Don't judge a man by the trailer he lives in.

Posted

That's interesting.

I am well aware of the combo method but I have never heard that the bank portion being OUTSIDE Thailand is EVER accepted.

Very surprising.

The combo method is simply showing the embassy income letter PLUS banked money (generally in a Thai bank account) totaling over 800K annually.

For example, annual income 500K plus 300K in a Thai bank account ... though of course you'd be crazy to cut it that close for the bank account portion given exchange rate fluctuations.

I have never heard of the bank portion outside of Thailand either. When I first obtained my retirement visa over 10 years ago, I actioned everything through a well known legal firm here in Thailand. I was advised that only funds in a Thailand bank would be considered as proof despite what funs I had in OZ. I put 800K in a bank, and haven't touched it since. It might have changed now, I don't know, maybe someone else can advise on this. I do note however, that when I obtain my extension of stay, they ask me to provide my passbook o they an see how much I send over and they photostat every page. They have done this for the past two years, since I retired here full time.

Posted

Because they don't want the trailer folks move here.

they seem to get to Thailand anyway. it isn't dollars, its attitude. the ex-pats that can live by the rules, not just the written ones, Thailand is little bit of heaven.

Posted

Same if you married to thai women,the state of Thailand do whant you to have 400.000B in bank in first apply for 1 yeare extension in country,and next time 3 months.

Posted

"why 800k bahts when I can live with 1/3 of that?"

There is nothing in the extension rule 2.22 to indicate that you are expected to spend 800k Baht during the 12- month period for which your retirement extension is valid. You are free to spend less or spend more.

Yes overall it seems a fair and reasonable program for the retired expats, but I do think some path to a somewhat higher STABILITY status after perhaps 5 or 10 years of continuous extensions would be a humanitarian improvement. People get older ... they want to feel more secure they won't be booted out of their now long term home too easily.

Such a path exists after 3 conseqcutive extensions and after 10 years a further step. Learn to speak fluent Thai and sing the National Anthem.... Or has this changed?

My 800k is my insurance fund for contingecies or ultimately as a cash inheritence for my wife. That amount of money from any source country for anyone intending to stay long term should be considered non significant. If is significant then it indicates that the intender is possibly undesirable.

Posted

When do we expect it to double to 1,600,000 baht? Next year?

Well I have actually heard that will happen when the " ASEAN" is up and running.

IMO the immigration into Thailand is all to lax, with drug barons, tax evasion criminals and money laundering on a high scale and all it takes is pile with copies and 800K in cash!rolleyes.gif

Posted (edited)

"why 800k bahts when I can live with 1/3 of that?"

There is nothing in the extension rule 2.22 to indicate that you are expected to spend 800k Baht during the 12- month period for which your retirement extension is valid. You are free to spend less or spend more.

Yes overall it seems a fair and reasonable program for the retired expats, but I do think some path to a somewhat higher STABILITY status after perhaps 5 or 10 years of continuous extensions would be a humanitarian improvement. People get older ... they want to feel more secure they won't be booted out of their now long term home too easily.

Such a path exists after 3 conseqcutive extensions and after 10 years a further step. Learn to speak fluent Thai and sing the National Anthem.... Or has this changed?

My 800k is my insurance fund for contingecies or ultimately as a cash inheritence for my wife. That amount of money from any source country for anyone intending to stay long term should be considered non significant. If is significant then it indicates that the intender is possibly undesirable.

What are you on about?!?

It NEVER existed.crazy.gif

Arriving in Thailand and using annual retirement extensions you have the exact same status with immigration from day one or THIRTY years later!

There is no path to permanent residence or citizenship on retirement extensions.

You actually thought there was?!?

Edited by Jingthing
Posted

You can also provide affidavit for 80k baht monthly income. You need to get the affidavit notarized by the embassy responsible for your passport.

Wrong 65k

  • Like 1
Posted

The OP claims to be able to live on 22,000 Bht /month or Approx 5000Bht/week

Perhaps we can be treated to the OPs major budget headings /costs ?

Housing ?

Electricity. ?

Water ?

Cooking gas ?

FOOD ?

Transportation ?

Etc ?

Posted

why 800k bahts when I can live with 1/3 of that?

A "VIP" living on 22 k Baht per month tongue.png (800'000/12/3 = 22222)

Or do you have a math problem?

I couldn't but I'm sure there are others who could live off that.
Posted (edited)

When do we expect it to double to 1,600,000 baht? Next year?

Well I have actually heard that will happen when the " ASEAN" is up and running.

IMO the immigration into Thailand is all to lax, with drug barons, tax evasion criminals and money laundering on a high scale and all it takes is pile with copies and 800K in cash!rolleyes.gif

The 160k caters to the drug barons, money launders, criminal element. The law abiding pensioners and retired, will be shut out. Crying shame. ? Edited by cheapcanuck
Posted

Because they don't want the trailer folks move here.

I am not sure that trailer folk are so 'trashy'...in the UK, the Gypsy's are quite well off, they all seem to drive around in Mercs, and Range Rovers, i've even seen them with Bentleys....mind you, they will think nothing of stealing copper and anything else that they can sell from you.
Posted

It is simple they ask you to put that much money in the bank to show that you can take care of yourself at least for a year and do not land on the beach road eating from the garbage can.

But they are not forcing you to spend that much money. As you say spend 280 000 and keep the rest in the bank and 2 months before your visa expiry again add another 280 000 to be able to extend your visa.

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