Retirement Visa problem - New Rules

[expatdude]

Then 400,000 after that. The important question for me is how do they verify? Will you have to go in many times during the year to keep showing you've got the current requisite amount?

For others, those who can't make the 800,000 in the bank amount needed, the question is if visa agents will be able to go around this latest barrier, and if so how much (more) will it cost?

 

[dave01]

1 hour ago, Harry Brown said:

 

 

Only an idea but instead of having the 800,000 tied up for a good part of a year, could it be possible to just transfer it 65,000 at a time ( or more if wanted)  and somehow have it recognised as income/ pension or annuity? Would it be possible to set up something that looks official at home ?

Harry.... Point 3 is still valid.  65K per month deposit.. at the end of point 3 there is a small word..... "or"

[Oukiva]

1 hour ago, sexy man said:

if they want to check they can make you show your bankbook when you do your 90 days report

- And what if you never go to immigration for your 90-Days reports ?

I made all my reports online since their service exists (about 3 years ?)

- Also de 90-Days reports are usually not synchronized with your extension. Could be just 2 months after it by example.

[Harry Brown]

Just now, dave01 said:

Harry.... Point 3 is still valid.  65K per month deposit.. at the end of point 3 there is a small word..... "or"

800,000 equates to 66 point something thousand baht per month  so if a member was relying on the 800,000 deposit but did not want to tie it up he could send over 66,000 of that 800 k bht each month instead of the lump sum and somehow call it income? I don't think he will be taxed at home on it? but I could be wrong, never had to deal with it.

[Oukiva]

1 hour ago, Tarl said:

1 hour ago, Oukiva said:

- It's not "800,000 in the bank 3 months after your extension" but 800'000 during these 3 months

Are you daying subsection 4 is incorrect where it clearly states the opposite of what you are saying or am I misreading it.

I may be the one who misread it... 

but when I read "the alien can withdraw the funds 3 months after being granted permission",

I understand that you can't do it before, and then a 3-months period untouched after extension.

For me the yearly requirement in this case is like that :

(X) 800 800 800 / 400 400 400 / 400 400 400 / 800 800 800 (X+1) ...

[dave01]

2 minutes ago, Harry Brown said:

800,000 equates to 66 point something thousand baht per month  so if a member was relying on the 800,000 deposit but did not want to tie it up he could send over 66,000 of that 800 k bht each month instead of the lump sum and somehow call it income? I don't think he will be taxed at home on it? but I could be wrong, never had to deal with it.

65k is their number.... there was an issue with showing 12 monthly deposits totalling a minimum 800k for the retirement extension, whereas the rules for a marriage extension are showing an average over 12 month totalling a minimum 400K.

I understand the "cash in bank" method has become more difficult for some, but the monthly deposit option is still there. I used t o wait for a favourable exchange rate before sending money, every 2 or 3 months,  but I won't be able to do that in future..

[cjtrader]

In effect the Thai government has made a clear choice. They are kicking out English-speaking farangs from Britain, Australia, and the U.S. by the thousands and replacing them with busloads of camera-toting Asians from China, India, and Russia.

After 13 years of living here on a retirement visa, I am giving it up. From now on I will only visit for a month or two at a time with a tourist visa. At least that is still easy to get with minimal hassle. 

 

[Oukiva]

4 minutes ago, cjtrader said:

In effect the Thai government has made a clear choice. They are kicking out English-speaking farangs from Britain, Australia, and the U.S. by the thousands and replacing them with busloads of camera-toting Asians from China, India, and Russia.

Your own personal interpretation of the situation 

The Immigration Chief made clear the aim was to fight again agents' activity. I already posted that in the other thread:

Quote

 

The new requirements to keep 400k baht in the bank for three months after the retirement visa is granted is effective from 1st March  2019.

The new requirements are likely the result of immigration officials trying to put an end to the practice of visa agents falsifying bank statements for foreigners who do not have enough money to meet the financial requirements needed for a retirement extension.

 

 

About UK, US, AU... everything would be easy again if these Embassies accepted to provide Income Letter... as most other embassies still do.

[forcebwithu]

38 minutes ago, Oukiva said:

I may be the one who misread it... 

but when I read "the alien can withdraw the funds 3 months after being granted permission",

I understand that you can't do it before, and then a 3-months period untouched after extension.

For me the yearly requirement in this case is like that :

(X) 800 800 800 / 400 400 400 / 400 400 400 / 800 800 800 (X+1) ...

The way I read the new order is 800k two months prior to the extension due date. So you would need five months with 800k and seven months at 400k.

[Oukiva]

3 minutes ago, forcebwithu said:

The way I read the new order is 800k two months prior to the extension due date. //

2 months (rather than 3) is for your first extension only.

At each renewal of your extension you need 3 months before it.

[sabato]

2 hours ago, stubby said:

Not good for me i spend down the 800k and top it up 3 mths before next extension ,just for example my brother retired to the philly's and only needs to show 10k US for his yearly extension. boody crazy!! TIT

Thai has double the GDP/capita of Philippines, it doesn't exactly seem unreasonable the retirement visa has significantly higher costs (check out the AUS retirement visa, for example). Not sure why people seem to view the retirement visa as a right, not a privilege.

[forcebwithu]

22 minutes ago, Oukiva said:

2 months (rather than 3) is for your first extension only.

At each renewal of your extension you need 3 months before it.

I see no mention of first extension only in the new police order. Is there a separate order that covers subsequent renewals?

[Srirachapocalypse]

21 minutes ago, sabato said:

Thai has double the GDP/capita of Philippines, it doesn't exactly seem unreasonable the retirement visa has significantly higher costs (check out the AUS retirement visa, for example). Not sure why people seem to view the retirement visa as a right, not a privilege.

True for the money portion, on the other hand the retirement visa for The Philippines is a one shot deal with permanent status, multiple entry, exempt from exit clearance and re-entry permit, you can turn the money into an investment like a condo, plus some other perks.

On the other hand, you would be living in The Philippines eating Filipino cooking. 

Advantage still Thailand, but not by as much as it could be    

[Oukiva]

12 minutes ago, forcebwithu said:

I see no mention of first extension only in the new police order. Is there a separate order that covers subsequent renewals?

Good remark... Unsure now   

Someone has to rebuild the full new Police Order by incorporating inside the 2 recent amendments,

because unclear for some parts if "additional" or "replacement" rules ...

 

Edit: After reading all again, looks well like a "replacement",

so the new requirement should be  (IMHO) :

(X) 800 800 800 / 400 400 400 / 400 400 400 / 400 800 800 (X+1) ...

Edited February 1, 2019 by Oukiva

[Tarl]

My reading of it as well now.

[forcebwithu]

58 minutes ago, Oukiva said:

Good remark... Unsure now   

Someone has to rebuild the full new Police Order by incorporating inside the 2 recent amendments,

because unclear for some parts if "additional" or "replacement" rules ...

 

Edit: After reading all again, looks well like a "replacement",

so the new requirement should be  (IMHO) :

(X) 800 800 800 / 400 400 400 / 400 400 400 / 400 800 800 (X+1) ...

With this change they've effectively increased the 800k requirement to 1.255 million. To arrive at this number I used their 65k/month as a minimum income requirement then figured for five months I'll be able to live off the 800k deposit, but for the remaining seven months I'll need an additional 455k (7 * 65) brought over.

Good we have the monthly income method to use as I'll be using that method after my next extension in November.

[flynn]

The visa agents have been getting around the money not being in the bank and they will still be able to do it as long as money flows under the table, the immigration or banking officials who facilitate this are not going to turn righteous overnight,


Sent from my iPad using Tapatalk

[stubby]

1 hour ago, Srirachapocalypse said:

True for the money portion, on the other hand the retirement visa for The Philippines is a one shot deal with permanent status, multiple entry, exempt from exit clearance and re-entry permit, you can turn the money into an investment like a condo, plus some other perks.

On the other hand, you would be living in The Philippines eating Filipino cooking. 

Advantage still Thailand, but not by as much as it could be    

Agree on the food there and will only do brief visits but i thought the 800k was to live on! I am happy to stay as a quest in Thailand but will keep my options open.

[Lok Jit]

There are around 2 Million X Pats living here..Many will not be able to do this so they will either Not obey this new Law or move to a much easier country to live in..Some will Flat out disobey....Think Immigrations is having a problem now? Just Wait                                      

[Billyboy294]

From the translation in Thaivisa there seems a contradiction.  Is it 800K or 400K you have to keep for 3months after getting the RV,

Retirement Visa

(4) At least 2 months prior to filing date, and at least 3 months after being granted permission, the alien must have fund deposited in a bank in Thailand of no less than THB 800,000. The alien can withdraw the fund 3 months after being granted permission and the remaining balance must be no less than THB 400,00 or;

The new requirements to keep 400k baht in the bank for three months after the retirement visa is granted is effective from 1st March  2019.

[SteveX08]

Means more people will go the monthly income route.   Sure it will cost a little more with transfer fees, but you will still only need 800,000 in total 65,000 per month) and you have the advantage that you can use the money to live on and it isn’t stuck in the bank.

Or go to your home country every two years and get a new 12 month O-A visa (leave Thailand and re-enter just before the first 12 months is up and you’ll get a new admitted to stay date giving you a further 12 months .  No need to show proof of funds in any Thai bank.

Edited February 1, 2019 by SteveX08

[Srirachapocalypse]

12 minutes ago, Lok Jit said:

There are around 2 Million X Pats living here..Many will not be able to do this so they will either Not obey this new Law or move to a much easier country to live in..Some will Flat out disobey....Think Immigrations is having a problem now? Just Wait                                      

well yeah, but if i can trust wiki .. about 1.8 million of them are from Cambodia, Laos and Myanmar and not the expats that would be likely to be dealing with the 800K baht issue.

[davidge]

Until things settle down, plan on keeping at least 800000 baht in the account for 6 months of the year and at least 400000 baht the other 6.

In 12 months time, we’ll have seen how the new rules are actually being implemented, both bank balance and income rules.

[Tarl]

1 hour ago, forcebwithu said:

With this change they've effectively increased the 800k requirement to 1.255 million. To arrive at this number I used their 65k/month as a minimum income requirement then figured for five months I'll be able to live off the 800k deposit, but for the remaining seven months I'll need an additional 455k (7 * 65) brought over.

Good we have the monthly income method to use as I'll be using that method after my next extension in November.

Has it been worked out yet what exactly they require/accept to go down the monthly route? Is it simply your bank book showing 65k coming into it each month?

[whitespider - RIP]

29 minutes ago, Lok Jit said:

There are around 2 Million X Pats living here..Many will not be able to do this so they will either Not obey this new Law or move to a much easier country to live in..Some will Flat out disobey....Think Immigrations is having a problem now? Just Wait                                      

As has been pointed out over 1.8 million of those are from Cambodia etc. Many would say they are not "expats" per se, certainly not in the context of this edict.

More reliable figures are approx 200k of which around half are company employees who again do not require retirement visas.