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


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10 hours ago, mlkik said:

For me the money in the bank for my extention of stay came first and then having a house built and buying a car came second.

Not a bully for you aproach but a common sence aproach.

You have to think further back. When I was getting  a car and a house a Visa which allowed me to live here for a year was a simple process of paying a small amount of money to a UK consulate. Once committed, having the squeeze put on, or the thumb wheel screwed down is tougher.

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800.000 baht is not very much if you genuinely have retired and have committed to living in Thailand. Maybe the people getting worried do not really have enough to retire here? I know many people

They will also need a Urine sample to check for drugs and a poo sample to check for worms,  i will just leave my underpants on there desk.   

And I thought the 800,000 baht was for living expenses, not as am interst earner for the Thai banks!    

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The reality is that thailand is culling the herd of expats that are not well equipped to live out their retirements here. You can’t fault the authorities their policy. It is similar to situations whereby tourists who are ill afford to travel ,complaint about travel requirement of host countries.

If expats are not qualified for financial reasons to retire in Thailand ( where the required fund is set very reasonable) now, how in the world are they going to finance their stay without drama in the coming years when the body needs more attention without loading upon the host country’s facilities for free? 

Perhaps somebody can start a gofundme for retirements. 

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4 minutes ago, randy723 said:

how much is the banks giving big joke and the PM for this new law? now we have to leave 800,000 baht in the bank for 5 five with out interest. GOOD BYE THAILAND HELLO CAMBODIA 

Good riddance ! 

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11 hours ago, Genericnic said:

It's been a great 8 years. I am really going to miss Thailand.

 

David

 

maybe this is why Thailand is doing this to get shot of all the poorer people. sorry David

Edited by catman20
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43 minutes ago, pookiki said:

I predict that the agent system will remain viable for those who use it - because too much discretion is left to individual IOs. If IOs can waive the 'seasoning' requirement, they can certainly 'waive' the requirement to keep 800,000 baht in the bank for three months after the extension of stay is granted. 

 

And what happens if you don't meet the 'three months' requirement after the granting of an extension of stay?  Will the extension be cancelled and the person deported?

I think this scrutiny only comes in when you go for the next extension .

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20 minutes ago, StevieDee said:

Would this work?

So, you have the required 800K in the bank for the required period (2 or 3 months whatever it may be) before your retirement application.

Every 90 days you do not go to immigration, you fly off to HK/SG, wherever for a weekend.

Upon arrival back in to Thailand you are stamped in for 90 days.

90 days later repeat the above for as many times necessary throughout your 1 year's retirement extension.

Upon your new retirement application 1 year later, as it's a new application, it's just the required 800k in the bank needed to be shown for the required period before application.

No.

It's a new application to extend your permission to stay from the previous permission.

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If you are retired and don't make the necessary money, you could always get a job teaching English.

Personally, I think it reasonable to ask for this amount off money in the bank permanently.

If you think it's too much, accept the fact that you can't afford to live abroad. 

 

People want Thailand to develop in other areas, yet not in their immigration laws.

 

This is the exact reason I've applied for citizenship, to not have to deal with these people in my golden years.

 

If I had worked all my life in the UK, I'd have bought a house, and would sell that when retiring abroad.

 

 

Edited by Neeranam
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11 hours ago, Jonathan Fairfield said:

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.

Please get it right ....the requirement is 800K for three months after the visa is granted, thereafter a permanent balance of 400K.

Is this the same for marriage visas? because at the moment marriage visa is 400k for two months and normal retirement visa is 800k for three months?

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4 minutes ago, Ctkong said:

I think this scrutiny only comes in when you go for the next extension .

That is what he is talking about. Please answer the question, having read it properly. 🙂

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