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BANGKOK 23 March 2019 05:44
Jonathan Fairfield

Foreigners now need to keep 800k in Thai bank for three months AFTER retirement extension is granted

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11 hours ago, bangsaenguy said:

Why worry? BJ will change it again next week. Maybe more convoluted. I really do not like maintaining 800k in a frozen account with no insurance and no interest. Hope my wife can access it after I die.

Put it in a fixed deposit if you want interest. As to your wife accessing it, have a will to make it clear, although she will still need to get a court order to make the bank release the funds.

Edited by jacko45k
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10 hours ago, Gweiloman said:


What makes you think that funds seasoning is required when using an agent? It’s not required under the old rules, is it?


Sent from my iPad using Thailand Forum - Thaivisa mobile app

There has been millions of posts that the old rules have changed. Funds seasoning is now law. Dont break the law in LOS, monkey house not too nice so ive been told. 

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There has been millions of posts that the old rules have changed. Funds seasoning is now law. Dont break the law in LOS, monkey house not too nice so ive been told. 

Under the old rules, funds seasoning was also law. However, agents were able to circumvent this requirement, some by just depositing the required amount on the same day as the application and some others apparently didn’t even need to do that.
What makes you think that this won’t also be the case under the new rules?


Sent from my iPad using Thailand Forum - Thaivisa mobile app
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14 minutes ago, indepth said:

There has been millions of posts that the old rules have changed. Funds seasoning is now law.

It was actually required previously, for 20 years I am informed. And I assure you that requirement was somehow bypassed using agents. 

Quote from an advert....

 

Quote

We help you even if you have no savings or any pension income. We do not judge you, we want to help you stay legally in Thailand 

 

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13 hours ago, ubonjoe said:

If using the 65k baht income option you do not need to keep any money in the bank. Just prove it was transferred into the country.

That is the big IF we are all unsure about. How do you prove it? A FFT code in your Bangkok Bank book, if you have an account with them. My Krungsri bank shows it as TN. Do we all need to move banks to BB.

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I love all these post, it is all about mememememe, when it is all about th Thais deciding they have had enough of retirees going to their Embassy and lying about their income and other hiring agents who put the 800,000 in the bank for them. Blame these people for making it harder for some people, who are legal, to stay. These are the people given a pass and were cheating. Some say doesn't affect you why do you care, well guess what it has now affected everyone who is retired here with new requirements that some cannot meet or do not want to meet.

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14 minutes ago, moe666 said:

I love all these post, it is all about mememememe, when it is all about th Thais deciding they have had enough of retirees going to their Embassy and lying about their income and other hiring agents who put the 800,000 in the bank for them. Blame these people for making it harder for some people, who are legal, to stay. These are the people given a pass and were cheating. Some say doesn't affect you why do you care, well guess what it has now affected everyone who is retired here with new requirements that some cannot meet or do not want to meet.

If you were correct why only citizens of 4 out of 100 embassies affected?  Time to look at reality.  Case of embassy lazies. 

Edited by marcusarelus

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8 minutes ago, moe666 said:

I love all these post, it is all about mememememe, when it is all about th Thais deciding they have had enough of retirees going to their Embassy and lying about their income and other hiring agents who put the 800,000 in the bank for them. Blame these people for making it harder for some people, who are legal, to stay. These are the people given a pass and were cheating. Some say doesn't affect you why do you care, well guess what it has now affected everyone who is retired here with new requirements that some cannot meet or do not want to meet.

Best to just do n say bugger all then? Majority here are concerned with me, because it does concern me but also every other me, you,him,her. Same old .... with the letters n agents bit, no need to rehash thanks. If your into blame ,suggest you look in the other direction

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9 minutes ago, marcusarelus said:

Case of embassy lazies. 

No. A case of the four Embassies, where the vast majority of expats in Thailand come from, were not prepared to tell lies.

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29 minutes ago, sumrit said:

No. A case of the four Embassies, where the vast majority of expats in Thailand come from, were not prepared to tell lies.

They never told lies, they always represented it as a sworn notarized statement.  If they had stood up to immigration and told them that due to financial laws in their countries that what all that they could provide just like the US Embassy did in 2014 when the UK Embassy did this crap once before.  It all blew over then and would have this time also.

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37 minutes ago, sumrit said:

No. A case of the four Embassies, where the vast majority of expats in Thailand come from, were not prepared to tell lies.

But 100 others were?  Just silly. 

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18 minutes ago, wayned said:
50 minutes ago, sumrit said:

No. A case of the four Embassies, where the vast majority of expats in Thailand come from, were not prepared to tell lies.

They never told lies, they always represented it as a sworn notarized statement.  If they had stood up to immigration and told them that due to financial laws in their countries that what all that they could provide just like the US Embassy did in 2014 when the UK Embassy did this crap once before.  It all blew over then and would have this time also.

Because many expats were falsifying income declarations, Thai Immigration again wanted the Embassies to confirm the income declared was accurate. That was not possible, for the Embassies to do so they would have been telling lies. This they were not prepared to do.

Edited by sumrit
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7 minutes ago, marcusarelus said:
45 minutes ago, sumrit said:

No. A case of the four Embassies, where the vast majority of expats in Thailand come from, were not prepared to tell lies.

But 100 others were?  Just silly

Up to them if they want to tell lies, that doesn't mean it's acceptable for all Embassies to lie.

 

It's the expats that have been lying for years that have created this problem.

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