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supremeville

10 Million Baht Investment Visa - Fixed Deposit

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9 hours ago, spambot said:

However it seems what you are saying is that you were refused an extension even though you had these aspects all covered.

I know that you were making an extension and not an application - But looking at the only qualifications as defined by UbonJoe couldn't you make a new application (rather than extend)?

 

But even if there was this requirement in the case of the Investment Visa - Then application for the Retirement would fail since similarly the same argument would be used that rollover had caused the funds not to be in the account for 2 months (in the case of a new application)?

 

You understand correctly.

 

The immigration officer and her boss on the day took a very strict view of the requirement that the money be continuously in a bank account.  The "continuously" wording I suspect was originally intended to stop people immediately withdrawing the money after the visa/extension is granted.

 

To be honest, the "make a new application" option didn't occur to me under the stress of the refusal.  The "seasoning" requirement for a retirement visa/extension of stay has, in my experience, been a bit flexible.  On one occasion (whilst on a retirement extension of stay) I mistakenly had a fixed deposit mature during the seasoning period, money which I immediately reinvested with the same bank.  This was spotted by an immigration officer, but wasn't an issue.  I presume the same flexibility was used when I was initially switched to a retirement extension of stay.

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14 minutes ago, Oxx said:

 

Chaengwattana.  Incidentally, there had been pressure the previous year to get me off an investment visa onto a retirement visa the previous year.  I'm guessing it's policy (or at least was a few years ago).

Was that the 10 million baht or the 3 million baht investment extension that was stopped for new applications in 2006?

I have read previously of immigration making problems for people that had the 3 million baht investment extension after 2006. They seemed to be trying to get people off of them.

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6 hours ago, Oxx said:

 

You understand correctly.

 

The immigration officer and her boss on the day took a very strict view of the requirement that the money be continuously in a bank account.  The "continuously" wording I suspect was originally intended to stop people immediately withdrawing the money after the visa/extension is granted.

 

To be honest, the "make a new application" option didn't occur to me under the stress of the refusal.  The "seasoning" requirement for a retirement visa/extension of stay has, in my experience, been a bit flexible.  On one occasion (whilst on a retirement extension of stay) I mistakenly had a fixed deposit mature during the seasoning period, money which I immediately reinvested with the same bank.  This was spotted by an immigration officer, but wasn't an issue.  I presume the same flexibility was used when I was initially switched to a retirement extension of stay.

OXX - Really good reply - Thanks

 

"The "continuously" wording I suspect was originally intended to stop people immediately withdrawing the money after the visa/extension is granted" - Actually that is a good point  - The withdraw could theoretically have been an option and hence the account  in the mind of the immigration officer might have seen this as some other type of investment (but without really knowing why).

 

"To be honest, the "make a new application" option didn't occur to me under the stress of the refusal". - Yup I completely get that - when your on the end of some arbitrary reversal of what's normally accepted it tends to make the mind work differently -  I had British Embassy proof of earnings letter refused  retirement extension - I felt the same and became confused, angry and concerned what I could actually do next.

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19 hours ago, SCOTT FITZGERSLD said:

the problem with THB fixed deposit is that the thai baht is going to depreciate in value in 

the next few months.

so i your base currency is USD, you might lose even 10% on your investment in thai currency (THB/USD

rate should be around 35-37 in few months to a year).

 

interesting to mention, that cambodia gives 6-8% annual return on FD in USD !!

MIN. amount can be 3000-4000 USD !!

Hi what is your analysis of THB to say its going to fall to 35-37?

 

im holding a significant amount of MYR atm and am thinking of trickle feeding into THB. 

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7 minutes ago, William Osborne said:

Anyone know if you can get this visa with investing in mutual funds through Thai bank ?

I don't think it can be done since the police order states it must be a fixed deposit account to apply for the one year extension of stay.

See: https://www.immigration.go.th/content/service_5

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On 7/16/2018 at 8:18 AM, catman20 said:

having this sort of money an account sounds great until you want to get the money back to your own country.

 

its different i suppose if you bring the money here to buy a condo as you would ask for a tor tor sam and then sell it you can then get that money back to origin 

Not everywhere issues a tor tor sam these days. Seems to be a city to city, bank to bank thing. I had a meltdown inside of Bangkok Bank in Chiang Mai a few year ago over this. After researching it seems to be the norm in some areas. They can’t get on the same page for anything in this place.

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On 9/29/2019 at 7:58 AM, dcnx said:

Not everywhere issues a tor tor sam these days. Seems to be a city to city, bank to bank thing. I had a meltdown inside of Bangkok Bank in Chiang Mai a few year ago over this. After researching it seems to be the norm in some areas. They can’t get on the same page for anything in this place.

The rules has changed but the bak are required to issue an FET upon request.

 

A while back, the Bank of Thailand changed the rules so the bank does not have to issue a form per say (the old FET forms) but can write more of a letter saying the same.

 

Something I experienced just recently with a major bank in Bangkok and they even sent me the official guidelines issued by BoT.

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