Thai Retirement Visa

[JAI DEE MAK]

On 17/07/2019 at 14:20, Scuba+ said:

I re read your initial post, is the problem the monthly transfers are not shown as FTT? maybe you used Transferwise or similar? If so that makes sense why they said no. They wouldn't be interested in your HSBC advices, shouldn't be necessary

 

I transferred direct from bank to bank transfer in GBP and changed to Thai baht by K bank Bkk.

JDM

[davidge]

1 minute ago, JAI DEE MAK said:

I transferred direct from bank to bank transfer in GBP and changed to Thai baht by K bank Bkk.

JDM

Reading your first post, I’m guessing the IO just wasn’t interested in anything from a foreign bank. If you get the paperwork from your Thai bank showing the money going in each month then, hopefully, it will be accepted.

[JAI DEE MAK]

I will give it a try next week and let you all know how it went .

JDM

[Scuba+]

I will give it a try next week and let you all know how it went .
JDM

Your transfers to Kasikorn is shown as International Transactions by having a teller code TFN05027-TFN05030

[davidge]

On 20/07/2019 at 05:19, JAI DEE MAK said:

I will give it a try next week and let you all know how it went .

JDM

Have you tried yet? 

[JAI DEE MAK]

On 04/08/2019 at 23:46, davidge said:

Have you tried yet? 

No have been very busy and I think I will reluctantly go the 800k route.

Altho I may change to a marrage visa.

I am lucky I have time as its not due renewal until 5 Dec 2019.

JDM

[davidge]

45 minutes ago, JAI DEE MAK said:

No have been very busy and I think I will reluctantly go the 800k route.

Altho I may change to a marrage visa.

I am lucky I have time as its not due renewal until 5 Dec 2019.

JDM

It looks as if people are being processed with the monthly route, just need the paperwork from the Thai bank. Still fairly early days though. Understandable to keep a back-up option just in case.

[OKAY]

1 hour ago, JAI DEE MAK said:

No have been very busy and I think I will reluctantly go the 800k route.

Altho I may change to a marrage visa.

I am lucky I have time as its not due renewal until 5 Dec 2019.

JDM d

Is the 800K due in the bank by Sept 5th, to be in there 90 days before applying for extension?  Four weeks isn't all that much time to get money into Thailand for me.

 

[forcebwithu]

11 hours ago, OKAY said:

Is the 800K due in the bank by Sept 5th, to be in there 90 days before applying for extension?  Four weeks isn't all that much time to get money into Thailand for me.

 

The money needs to be in the bank 2 months before, and then held in the account for 3 months after the extension date.

[OKAY]

On 06/08/2019 at 18:54, forcebwithu said:

The money needs to be in the bank 2 months before, and then held in the account for 3 months after the extension date.

It really is a bit complicated then. I thought 2 months before was for the original extension, any renewal needed 3 months before. My mistake.

[usexpat46]

Went Wednesday and did my 13th renewal on my retirement extension.  Although I had over an hour wait as my number was 871 and they were only on #856, once my number came up it only took a couple minutes and I was out of there, I do the 800 K in a Thai bank and since I own my condo I give them my latest electric bill from PEA and water bill.  One thing that was new is that I was give a letter which told me that I have to report back in 90 days to show that I still have at least 800 K in the Thai bank  and the remaining balance must be no less than 400 K.  For those that began the retirement extension prior to 1998 the financial requirement is only 200 K in a Thai bank or monthly income of 20 K baht.  

It sounds like the current financial requirement changed 21 years ago and increased four times.  I wonder when the next change will take place and what the new amounts will be required.

 

[Scuba+]

For those that began the retirement extension prior to 1998 the financial requirement is only 200 K in a Thai bank or monthly income of 20 K baht.  
It sounds like the current financial requirement changed 21 years ago and increased four times.  I wonder when the next change will take place and what the new amounts will be required.
 

Back in 1998 the £ exchange rate was around 80 to the £ so the 800k is currently 8x what it was back then (fag packet maths), hopefully they realise its best to freeze it for a number of years

[CuppaTea]

2 minutes ago, Scuba+ said:

 

 

Back in 1998 the £ exchange rate was around 80 to the £ so the 800k is currently 8x what it was back then (fag packet maths), hopefully they realise its best to freeze it for a number of years

 

Exchange rates have zero bearing on this.

It's the amount they deem you need to have in Thai Baht they only care about. not what it costs you to get it from your own currency.

Personally I think its real likely they will up the 800K because the spending power of it has dropped hugely since it was upped from 200K.

Same goes for the 65K per month.

Last time guys already getting retirement didn't need to comply with the new changes in amounts, only new applicants.

Let's hope when, because its not IF its When, they up the amounts (maybe even with compulsory health insurance being required) they grandfather existing guys in as well again.

Nothing though is guaranteed, its only "hope" because it's their country and their choices, not ours.

[Scuba+]

Exchange rates have zero bearing on this.
It's the amount they deem you need to have in Thai Baht they only care about. not what it costs you to get it from your own currency.
Personally I think its real likely they will up the 800K because the spending power of it has dropped hugely since it was upped from 200K.
Same goes for the 65K per month.
Last time guys already getting retirement didn't need to comply with the new changes in amounts, only new applicants.
Let's hope when, because its not IF its When, they up the amounts (maybe even with compulsory health insurance being required) they grandfather existing guys in as well again.
Nothing though is guaranteed, its only "hope" because it's their country and their choices, not ours.

It's all nonsense anyway, 40k a month if married, 65k a month if single, Thai logic, maybe they are factoring in golf and gogos

[CuppaTea]

Just a real depressing thought.

Last time upped from 200K to 800K which is an X 4 increase.

That, if done again, would mean 3.2m

Now that really would break the internet, Thai Visa Forum would crash for sure 

[usexpat46]

1 hour ago, CuppaTea said:

Just a real depressing thought.

Last time upped from 200K to 800K which is an X 4 increase.

That, if done again, would mean 3.2m

Now that really would break the internet, Thai Visa Forum would crash for sure 

Can't remember the exact year but around 2006 the investment visa went from 3 M baht to 10 M baht.

[chris2004]

On 06/08/2019 at 17:14, JAI DEE MAK said:

No have been very busy and I think I will reluctantly go the 800k route.

Altho I may change to a marrage visa.

I am lucky I have time as its not due renewal until 5 Dec 2019.

JDM

 I was thinking of doing the 65k a month method but IMO it is just too risky. "Proving" that they all come abroad can be tricky and it only needs one to go adrift and there goes your extension, by which time it's too late to do anything else (except an illegal agent). I have concluded the 800k is the only safe, and easy, way.

That means i won't be doing any more transfers until the middle of next year by which time the Pound will be back to 60 (well Brexit will sort it right).