Gumballl Posted October 6, 2006 Share Posted October 6, 2006 Today the US Dollar to Thai Baht exchange rate is approximately 37.5 baht to a dollar. If somehow the Thai baht appreciates to say 25 baht to a dollar, how would this affect the immigration policies now being rolled out? Would the minimum required per month be reduced? It seems that the cost in living would remain fairly stable (for the average Thai) should a appreciation of the baht occurs, but this would surely impact O-visa holders enormously. I remember recently that 40K baht = $1000. Now it is approximately $1067. It the exchange rate hits 25 baht to the dollar, then 40K baht = $1600. Most (but not all) Thais earn 10K-15K per month. Let's see.... 25K baht for foreign husband and 15K for Thai wife = 40K baht. Oh now I understand the flawless Thai logic. Anyhow, I all who read this will join me in spending as little as possible in the Thai economy so that the baht will depreciate to the 1997 levels (50+ baht to the dollar). Link to comment Share on other sites More sharing options...
Cyberstar Posted October 6, 2006 Share Posted October 6, 2006 40,000 Baht = 40,000 Baht (yesterday, now and forever) ... Why should currency-fluctations make a difference to Thailands internal goalposts? Link to comment Share on other sites More sharing options...
Gumballl Posted October 7, 2006 Author Share Posted October 7, 2006 40,000 Baht = 40,000 Baht (yesterday, now and forever) ... Why should currency-fluctations make a difference to Thailands internal goalposts? Huh? You must be a local (i.e. a Thai), or all of your money (or lack thereof) is deposited in a Thai bank. Or could it be that you flunked basic math classes as a child? Look at the exchange rates. They vary from day to day (if not from whim to whim). For many, 40K baht today may be a certain amount in their respective currency, but tomorrow, if the baht should appreciate in value, then the amount the falang would have to produce would be greater. Link to comment Share on other sites More sharing options...
Khutan Posted October 7, 2006 Share Posted October 7, 2006 It does not matter what the USD / THB position is. What Immigration told me a few years ago was that 40k a month was what they felt you would need to support yourself and your wife or child. Link to comment Share on other sites More sharing options...
astral Posted October 7, 2006 Share Posted October 7, 2006 For many, 40K baht today may be a certain amount in their respective currency, but tomorrow, if the baht should appreciate in value, then the amount the falang would have to produce would be greater. Whoever said life is fair. Link to comment Share on other sites More sharing options...
Gumballl Posted October 7, 2006 Author Share Posted October 7, 2006 (edited) It does not matter what the USD / THB position is. What Immigration told me a few years ago was that 40k a month was what they felt you would need to support yourself and your wife or child. It does matter. If an apple costs you 10 baht today, and next year 50% of the crop has gone bad, well then perhaps the sellers will have to sell apples at 20 baht apiece. Will this affect the apple buyer? Well, the answer is yes it will. Perhaps not so many apples will be bought. Today it cost $1.00 to buy 37.5 baht. Next year it may cost $1.50 to purchase the same amount of baht. How you can say that this does not matter to those on a fixed-income pension is a incomprehensible? I do agree with your first statement... yes Thai immigration will want to see 40K per month... but the costs of procuring this many baht can vary from time to time for the farang bringing this money from abroad. Capice? Edited October 7, 2006 by Gumballl Link to comment Share on other sites More sharing options...
Rajah Posted October 7, 2006 Share Posted October 7, 2006 It does not matter what the USD / THB position is. This is Thailand and not the US. If you don't agree: Why don't you complain with the powers to be? Link to comment Share on other sites More sharing options...
lukamar Posted October 7, 2006 Share Posted October 7, 2006 I do agree with your first statement... yes Thai immigration will want to see 40K per month... but the costs of procuring this many baht can vary from time to time for the farang bringing this money from abroad. Capice? I understand where you are coming from. This year about $1000USD buys 40,000Bt. Next year it may be $900 or $1100Bt for the same 40,000Bt. Unfortunately it makes the married to a Thai visa a bit less secure than it was a month ago as it may now fluctuate against the other currencies in the world. If you have to now prove your income every year your visa could well depend on the world economy or your native currency compared to the baht or the time of the year it is due. When we bought our house a few years ago the Canadian dollar was just short of 28Bt when we moved back to Canada. Now it is 33.5. When i send my mortgage payment money depends on what the exchange rate is. I always try to send a years worth of payments when the Canadian dollar is high and the Baht low. I get 2 free months of payments just on the exchange rate differential. Link to comment Share on other sites More sharing options...
maxx Posted October 7, 2006 Share Posted October 7, 2006 40k is 40k buddy, don't be a cheap charley, what!!!! you short a few baht....OMFG i couldn't believe people can be that cheap living in Thailand. Link to comment Share on other sites More sharing options...
visarunner Posted October 7, 2006 Share Posted October 7, 2006 This is Thailand and you have to accept the rules. Don't ask why/question the rule/reason , it's just like it is and it will stay. Link to comment Share on other sites More sharing options...
Noel Posted October 7, 2006 Share Posted October 7, 2006 Hmm, it seems that the OP seems to think it only equitable that Thai Immigration financial requirements are priced in US Dollars... Link to comment Share on other sites More sharing options...
Firefan Posted October 7, 2006 Share Posted October 7, 2006 I think it should be stated in Kazakstani Tenge! Just makes so much more sense... Cheers! Link to comment Share on other sites More sharing options...
thaigene2 Posted October 7, 2006 Share Posted October 7, 2006 40k is 40k buddy, don't be a cheap charley, what!!!! you short a few baht....OMFG i couldn't believe people can be that cheap living in Thailand. You ever lived here on a local salary? 40,000 Baht per month is more than twice the average income of a semi-professional Thai couple. Many of us (me for example) have good jobs here and are earning well in excess of that - but what happens when your WP expires? We are only able to work in a limited number of occupations here. When the WP expires we have 7 days to leave the country. Then we come back to 'visit our family' ....and look for a new job. Though technically we're not supposed to be doing even that...that's not the 'purpose' of the visa. Meantime where is the 40,000 monthly income coming from? -- - there is no 40,000. The point is that it doesn't matter how much you have in the bank here - they want to see 40,000 in income. That's the sticking point..it is new income that you don't - as yet have - if you are of working age. These rules are made for guys with investment incomes overseas. The Thais want to see hard currencies coming into the country. They're trying to get rid of those of us who try to earn a living here. At least that's my read. It's not just the Farang Kee Noks anymore (those who said don't gloat we're right)..it's most of the others too. Link to comment Share on other sites More sharing options...
soic Posted October 7, 2006 Share Posted October 7, 2006 40,000 Baht = 40,000 Baht (yesterday, now and forever) ... Why should currency-fluctations make a difference to Thailands internal goalposts? You're looking at the 40,000 bass-ackwards!!!!! You're looking at it like an American in Thailand. Think.... like a Thai in Thailand, or an American in America. When you live in America and you have a fixed house payment, car payment or child support payment; that is what you pay every month. It wouldn't matter what the British Pound, Japanese Yen, Euro or any other currency valued at, that's what you pay. It would really suck to have to pay more or less for our bills based on another countrie's economy and currency value. That same standard applies for Thailand. They have determined the cost or salary requirement is 40,000 bht. Why should their requirement go up or down based on our currency valuation? When in Thailand... do as Thais do. I mean, the way you're looking at it... should they raise or lower it for every Farang currency? Talk about a shock when it would be time to renew... Let's see.... "you hap how mut baht, elly mun? fawty and tousand? No, No.... dis mun, we usse Ulow.... now....now.... you need hap fawty tee tousand and Fi-hunlet, Nec mun we usse Yenn... it goot.... goot munee!" Link to comment Share on other sites More sharing options...
lukamar Posted October 7, 2006 Share Posted October 7, 2006 (edited) Some of you guys don't understand the situation some may be in. If you need 40,000 Bt income and your income comes from outside the country, you need more or less outside income as the Baht values or devalues against the currency you are converting. When we were in Thailand a few years ago I would have needed almost $1500 Canadian outside income to meet the 40,000 Baht requirement, if the rules then were the same as the rules now. Today because the Canadian dollar is strong against the USD the rate is better against the Baht and I would only need about $1200Canadian to buy that same 40,000Bt. I'm gaining over 10,000Bt extra with the same income from outside the country. It has nothing to do with being cheap and everything to do with the exchange rates. If for instance you had a pension of $1500USD today it would be about 57,00 Baht no problem meeting the visa requirements. Now lets say in 2 years the Baht goes way up and the USD drops like a rock.. The Baht is now 25 to the greenback. Then the guy with the stable USD pension income from outside the country only has 37,000Bt income to show the government. This could be a real problem for people on married visas that have income from outside the country. No one was being cheap Charlie or arguing the Thai rules. The gentleman was concerned about what he foresaw as a problem in the future. He's at least asking the right questions and will be ready to do something if the problem arises for himself. And a point to ponder for you people working in Thailand and earning the 40,000Bt to qualify for the married visa, where is the 40,000 going to come from when you and your wife retire? and it's probably going to be substantially more than that then. Edited October 7, 2006 by lukamar Link to comment Share on other sites More sharing options...
Backpack_thailand Posted October 7, 2006 Share Posted October 7, 2006 For a Non Imm 'O' based on marriage and business together, the monthly requirement is now 50,000 a month if you don't have money to show. At least it was when I renewed mine a little while ago. The good news however, you don't have to physically show this money, just the paperwork that says you have paid tax on that amount. Possibly it's different at each individual immigration office but that's what happened in my case. I kind of understand your logic though Lukamar as I presume your earnings come from outside Thailand. One month you need $1,000, the next you need $1,200 etc. However if the value of the Baht goes up or down it wouldn't mean wages in Thailand would go up or down would it?? 1 Baht is 1 Baht in Thailand, regardless of exchange rates. As I said before, just need to pay tax on your earnings, NOT show it! Link to comment Share on other sites More sharing options...
BKK90210 Posted October 7, 2006 Share Posted October 7, 2006 (edited) Meantime where is the 40,000 monthly income coming from? -- - there is no 40,000. The point is that it doesn't matter how much you have in the bank here - they want to see 40,000 in income. That's the sticking point..it is new income that you don't - as yet have - if you are of working age. So what you're saying is ....If you have the O-Visa, and under 50 In order for the extension - now you must have min. 400k bths AND show the monthly income of 40k bths/mo also? Edited October 7, 2006 by BKK90210 Link to comment Share on other sites More sharing options...
Cyberstar Posted October 7, 2006 Share Posted October 7, 2006 For a Non Imm 'O' based on marriage and business together, the monthly requirement is now 50,000 a month if you don't have money to show.... What is a "Non Imm 'O' based on marriage and business together"? --- Haven't seen anything like that mentioned anywhere ... Where can I check up on that 50,000 baht requirement for that non-existing kind of extension ground? Link to comment Share on other sites More sharing options...
Sophon Posted October 7, 2006 Share Posted October 7, 2006 It does not matter what the USD / THB position is. What Immigration told me a few years ago was that 40k a month was what they felt you would need to support yourself and your wife or child. >snipped< How you can say that this does not matter to those on a fixed-income pension is a incomprehensible? He can say that it does not matter because your own question was: If somehow the Thai baht appreciates to say 25 baht to a dollar, how would this affect the immigration policies now being rolled out? Would the minimum required per month be reduced? So if the immigration authorities today believe you will need THB 40,000 to support your spouse (you can agree or disagree, it really doesn't matter as that is the amount they have decided on), and as you also stated yourself: It seems that the cost in living would remain fairly stable (for the average Thai) should a appreciation of the baht occur Then why would the immigration authorities suddently feel you would now be able to support your spouse on less? Hence Khutans comment that it doesn't matter what the USD/THB exchange rate is. Thats not to say it won't matter to the individuals who would now need to show/transfer a bigger USD amount, of course it would. It just means that there is no logical reason for the immigration authorities to change the amount required, which is what your were speculating might happen. Sophon Link to comment Share on other sites More sharing options...
lukamar Posted October 7, 2006 Share Posted October 7, 2006 I kind of understand your logic though Lukamar as I presume your earnings come from outside Thailand. One month you need $1,000, the next you need $1,200 etc. However if the value of the Baht goes up or down it wouldn't mean wages in Thailand would go up or down would it?? 1 Baht is 1 Baht in Thailand, regardless of exchange rates. The point I was trying to make, and probably did not explain it well. If you were on a fixed income from outside Thailand the fluctuation in the exchange rate could actually if you were unlucky put you in a position that you no longer could show outside income of 40,000Bt in the future. I don't have a problem with the way they have done it or the amount they require. They could have doubled the amount like they did some years ago. I'm just mentioning that if on a fixed income problems could arise in the future. It could also go the other way as it has for me and our house payments, where i came out the winner in the exchange game. Link to comment Share on other sites More sharing options...
egeefay Posted October 7, 2006 Share Posted October 7, 2006 Like tourist, retired expats will always be subject to the whims of the currency exchange rates. Thai authories have decided that a farang could live comfortably in Thailand for 40,000 (or whatever the numbers are) a month : housing, transportation, food, clothing , utilities not include emergencies like medical care. They figure if you have that much in the bank or coming in each month you won't be tempted to try to find a job in Thailand. If the exchange rate causes a drop in your monthly income, the Thais want that to be your problem. They want you to be able to come up with the extra money to make ends meet. They know that no matter what the exchange rate, it's still going to cost you 40,000 baht a month for expenses. No one is going to drop the rent or lower the cost of utilities or discount food to you just because you can't come up with as many baht when you exchange your Euros or Dollars I think that is perfectly fair,(but a hard pill to swallow if the exchange rate dips down to 25 baht to the dollar.) At that point, a lot of folks living in Thaialnd are going to have to reevaluate their circumstances. I doubt that the Thai government will allow the dollar to baht exchange rate to drop that low. The US is Thailands main trading partner and when the dollar only buy 25 baht, Thai exports are going to be too expensive. Hopefully, for those of us living in Thailand or planning to live there , it won't go much lower than where it is now...Hope, hope Link to comment Share on other sites More sharing options...
gavstah Posted October 8, 2006 Share Posted October 8, 2006 The other side to this coin is that if the baht went 50 per USD, you would be patting yourself on the back for being such a clever and/or lucky fellow. It's a double-edged sword, living here and bringing your income in from outside of Thailand. "Cost of doing business", really. It's the expat's responsibility to plan for currency fluctuations, not the Thai govt. Of course, if the baht actually did go to 50+ per USD, how long do you think it would take the goalpost to move to 60k baht/mo? Link to comment Share on other sites More sharing options...
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