Thailand to launch new 10 year multiple entry visa for over 50s

[William C F Pierce]

If you have 25 million Baht or more you are able to tie up for a year in a high interest account. Then you will have at the end of a year 1.5 million Baht interest at 6%. Therefore making Thailand pay for your Visa, leaving you to do what ever you want with your own money. If you don't touch this interest it will eventually grow with compound interest to 3,000,000 Baht paid for by Thailand.

[Othello]

If you have 25 million Baht or more you are able to tie up for a year in a high interest account. Then you will have at the end of a year 1.5 million Baht interest at 6%. Therefore making Thailand pay for your Visa, leaving you to do what ever you want with your own money. If you don't touch this interest it will eventually grow with compound interest to 3,000,000 Baht paid for by Thailand.

And how many people have 25 mill?!


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[William C F Pierce]

3 minutes ago, Othello said:

And how many people have 25 mill?!


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The word I used was "IF" to make a philosophical point. Some people when they sell up in Western Countries do have this amount. Some even have half this amount that could do it over 2 years, which is what I expect to have to move to Thailand when I sell my apartment. Many people have houses of higher value, when sold that would allow them to do this. The biggest majority of those that move to Thailand do have assets as opposed to a minority who don't.

[Oceanbat]

If that is true, then why is this information never shared or published ?

I don't believe his either given the IO always thumbs through my passport to find my visa and the date.

OB


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[Penefattore]

Just now, William C F Pierce said:

If you have 25 million Baht or more you are able to tie up for a year in a high interest account. Then you will have at the end of a year 1.5 million Baht interest at 6%. Therefore making Thailand pay for your Visa, leaving you to do what ever you want with your own money. If you don't touch this interest it will eventually grow with compound interest to 3,000,000 Baht paid for by Thailand.

what sort of institution would pay you 6% net of tax ? 

[SteveMack]

And It dosnt mention me, Republic of Ireland, Is that race discrimination or what, HaHa

[YetAnother]

Must the three million in the bank be in one name only and can the three million be spread across multiple accounts?

[YetAnother]

This Visa offering does not pass the sniff smell test

[theguyfromanotherforum]

15 hours ago, William C F Pierce said:

If you have 25 million Baht or more you are able to tie up for a year in a high interest account. Then you will have at the end of a year 1.5 million Baht interest at 6%. Therefore making Thailand pay for your Visa, leaving you to do what ever you want with your own money. If you don't touch this interest it will eventually grow with compound interest to 3,000,000 Baht paid for by Thailand.

 

Link to this interest rate as I don't believe a word you wrote.

[William C F Pierce]

12 minutes ago, Penefattore said:

what sort of institution would pay you 6% net of tax ? 

Some high interest accounts at banks do and some higher than 6%. Savings rates can be higher than in Western countries. You have to do your own research. High interest preference share would be another viable option if it was allowed, so I would not say this was.

[Penefattore]

Just now, theguyfromanotherforum said:

 

Link to this interest rate as I don't believe a word you wrote.

me neither

[holy cow cm]

2 hours ago, William C F Pierce said:

If you have 25 million Baht or more you are able to tie up for a year in a high interest account. Then you will have at the end of a year 1.5 million Baht interest at 6%. Therefore making Thailand pay for your Visa, leaving you to do what ever you want with your own money. If you don't touch this interest it will eventually grow with compound interest to 3,000,000 Baht paid for by Thailand.

Yeah, OK!

[holy cow cm]

This is just based on a visa that they consider for good guys. The rest of us are bad guys and they don't give a rats arse about us. I would love to become a citizen, about time after 24 years, but aint gonna happen even with my Thai kids. Face ti, we are second class can never be Thailand citizens. 

[owl sees all]

3 minutes ago, holy cow cm said:

This is just based on a visa that they consider for good guys. The rest of us are bad guys and they don't give a rats arse about us. I would love to become a citizen, about time after 24 years, but aint gonna happen even with my Thai kids. Face ti, we are second class can never be Thailand citizens. 

Well I'm not sure if we could ever become citizens.

We couldn't be a citizen of the UK.

I just don't know about Thailand. Maybe you are right!

[holy cow cm]

16 minutes ago, owl sees all said:

Well I'm not sure if we could ever become citizens.

We couldn't be a citizen of the UK.

I just don't know about Thailand. Maybe you are right!

Just saying, here is lop sided and prejudice for how it is set up. Even with massive time put in living here with strong Thai family and values never having an ounce of problem, it doesn't matter. Most countries have a straight forward way to immigrate with due time and perseverance once living in the country's walls with solid connection, say marriage. Here not unless you are wealthy or a foreign female married to a Thai. The percent of persevering is like odds of winning the lottery. There is a small tiny chance, but odds are no way in our lifetime. Not even going to try. 

[MobileContent]

On 6/17/2017 at 8:23 AM, Dave67 said:

China 10 years ? I lasted 2 and had enough ,good luck with that

Since last year I pulled out of Thailand and closed all operations within Thailand. Moved business to HK and got myself a longterm visa for China as I hold PR in Singapore. Billings in the PRC has been between 350-400,000 USD in the last 6 months alone and I have never even reached that amount in Thailand within 3 years. 

 

We still have of course a healthy billing with Thai companies but the funds no long end up in Thailand and are trabsferred directly to our Singapore company.

 

You will be surprised how many expats have moved out of Thailand in the past 18 months alone. I know of at least 40 expats that left Thailand. Sure China was the minority with just a few but Singapore, Malaysia, Indonesia, Vietnam, Philippines and even Cambodia took a large chunk of expat money with them from Thailand.

[MobileContent]

27 minutes ago, owl sees all said:

Well I'm not sure if we could ever become citizens.

We couldn't be a citizen of the UK.

I just don't know about Thailand. Maybe you are right!

 

Its around 4-5 million Baht and you can be a citizen of Thailand. A lot of money need to be spend on charities and at least 400k a month in salary and you can be a Thai next month even if you dont speak Thai.

[owl sees all]

Just now, MobileContent said:

Its around 4-5 million Baht and you can be a citizen of Thailand. A lot of money need to be spend on charities and at least 400k a month in salary and you can be a Thai next month even if you dont speak Thai.

Thanks for that. I don't know where to start on this one.

[MobileContent]

Just now, owl sees all said:

Thanks for that. I'll get to work on it.

Thai Red Cross is the way to go. 

[Dave67]

13 minutes ago, MobileContent said:

Since last year I pulled out of Thailand and closed all operations within Thailand. Moved business to HK and got myself a longterm visa for China as I hold PR in Singapore. Billings in the PRC has been between 350-400,000 USD in the last 6 months alone and I have never even reached that amount in Thailand within 3 years. 

 

We still have of course a healthy billing with Thai companies but the funds no long end up in Thailand and are trabsferred directly to our Singapore company.

 

You will be surprised how many expats have moved out of Thailand in the past 18 months alone. I know of at least 40 expats that left Thailand. Sure China was the minority with just a few but Singapore, Malaysia, Indonesia, Vietnam, Philippines and even Cambodia took a large chunk of expat money with them from Thailand.

Yeah HK , Beijing , Shanghai all decent places. Unfortuately my job of building high speed railways placed me in many backwater places of all of them Chanchun was the best

[owl sees all]

9 minutes ago, MobileContent said:

Thai Red Cross is the way to go. 

Thanks. Sorry I edited after you posted.

[MobileContent]

2 minutes ago, Dave67 said:

Yeah HK , Beijing , Shanghai all decent places. Unfortuately my job of building high speed railways placed me in many backwater places of all of them Chanchun was the best

Lucky me, I got my Singapore Chinese guys that travel up to the Chinese boonies to collect the money. LOL

[sultan2011]

No Thanks! Far to relaxed in Cambodia to up-root and move back!

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[Marley01]

One wonders if the current arrangement of paying 15k to certain immigration officers will allow expats to renew the visa without any funds in their account.

[owl sees all]

5 minutes ago, sultan2011 said:

No Thanks! Far to relaxed in Cambodia to up-root and move back!

Really! Spill the beans please.

[MobileContent]

On 6/17/2017 at 5:34 PM, BernieOnTour said:

Well, if they do not extend the conditions that offers absolutely no benefit for me:

 

1) only bank account based (no option based on income like retirement visa).

- I will not "park" 80.000 € in a country, which in 1997 led the Asia crisis and where the Thai Banks -practically the same as now, but with other names- went bancrupt. And the Baht is IMO again over-valued.

 

Bangkok Bank of Commerce and Laemtong Bank are both gone. The finance companies from 1997 were all wiped off from the market.
 

- The political landscape not stabilized, because the underlying real issues are not finally solved.

Agree
 

- A country, constantly changing the rules applied for foreigners.

Agree

 

2) An insurance which is not worth its money

- I have already a very good coverage by an european insurance 

Agree, I too have a European company and also I pay around 70,000 Baht a year it is much better as what is offered in Thailand
 

- The Thai coverage is ridiculously low.

- So, practically, the insurance is not worth the paper, it is printed on.

Agree

 

If they want to support the lobbyists from Thai banks and Thai insurances:

   up to them, but not with me.

Its more about ripping off the expats that would go for the visa. I have great coverage so why would they want me to lock some local insurance. An expat that can spend 3 million Baht for a visa has already coverage with an international insurance company.
 

I assume, the last word about the "old" retirement visa is still not written ...

-> it's time to travel more intensively and explore alternative options.

A lot are doing it already. Almost all my contacts that left Thailand sold their Thai operations. One company had 400 staffs just 3 years ago and now they have 100 left but you can't read it in the news. 

 

 

 

 

[observer90210]

3 hours ago, ukrules said:

90 day reporting is required on all visas, every single one of them.

 

If you're a foreigner you must report and show your papers every 90 days.

absolutely!!...which is why it makes this 24 kt gold plated visa, worthless...

[observer90210]

3 hours ago, William C F Pierce said:

If you have 25 million Baht or more you are able to tie up for a year in a high interest account. Then you will have at the end of a year 1.5 million Baht interest at 6%. Therefore making Thailand pay for your Visa, leaving you to do what ever you want with your own money. If you don't touch this interest it will eventually grow with compound interest to 3,000,000 Baht paid for by Thailand.

sorry, I blew up the 25 million in buying a drug lord's car in a public thai auction

[HampiK]

I am always surprised how many members here have to be millionaires...

Because they have to be when they so easily can double their money with so high interest rates. The other part who like to do investments and loose everything of course never will write on a forum.. so seems it's easy to have interest rates (guaranteed) over 6% (some like to write they gain 10% or even more).

[bluesofa]

53 minutes ago, Marley01 said:

One wonders if the current arrangement of paying 15k to certain immigration officers will allow expats to renew the visa without any funds in their account.

Is this a particularly local "arrangement" somewhere, or is it nationwide I wonder?