800,000 Retirement Extension in Chiang Rai Feb 6, 2019

[HHTel]

He obviously means 'advice' as opposed to 'advisory'.

i.e.  The advice given here, in reality, is correct in that checks will be made on the next application.  It's always been thus so why would it change?

[Jingthing]

4 hours ago, HHTel said:

He obviously means 'advice' as opposed to 'advisory'.

i.e.  The advice given here, in reality, is correct in that checks will be made on the next application.  It's always been thus so why would it change?

Why might it change? 
Well, sir, here is a clue.

Never in the history of Thai immigration has there been a money seasoning requirement AFTER an extension is granted.

I hope that answers your question well enough. 

[garyk]

The transfer of wealth has begun by folks that voluntarily give money away. 

The Thai's are laughing all the way to the bank.

Not only are they laughing they have lost all respect for the western intellect, as well they should.

Amazing!

Edited February 7, 2019 by garyk

[JLCrab]

15 minutes ago, garyk said:

The Thai's are laughing all the way to the bank.

I have accounts at 3 separate Thai banks never with much more than $US2000 between them and I don't see that changing with the new 65K+ baht monthly regime so I don't see what the Thais have anything to be laughing about.

 

Conversely what I get for spending the 65K+ baht monthly deposit in Thailand you certainly could not get in the Estados Unidos so sometimes I wonder just who is taking advantage of whom.

[garyk]

11 minutes ago, JLCrab said:

I have accounts at 3 separate Thai banks never with much more than $US2000 between them and I don't see that changing with the new 65K+ baht monthly regime so I don't see what the Thais have anything to be laughing about.

 

Conversely what I get for spending the 65K+ baht monthly deposit in Thailand you certainly could not get in the Estados Unidos so sometimes I wonder just who is taking advantage of whom.

What does that have to do with the OP. Your narrow view has nothing to do with this IMO.

What idiot putts 800K in the bank and adapt's to the rules to live here if you don't have too.

Amazing!

Edited February 7, 2019 by garyk

[JLCrab]

56 minutes ago, garyk said:

The transfer of wealth has begun by folks that voluntarily give money away. 

I could ask the same of you -- other than the 800K might have to stay in the bank longer why is this a big new transfer of wealth other than as some might say a big transfer of wealth to the agent squad.

 

I don't know that those who have played bunco games in the past on extensions of stay are going have some epiphany and swear off the folly of their previous ways  and start putting 800K deposits into the Thai banks.

Edited February 7, 2019 by JLCrab

[jacko45k]

12 hours ago, The Theory said:

The bank letter will change since it will be 2 mounts fund in advance + 3 months after + 400,000 the rest of the year till next renewal date. 

I don’t think they make their own work more complicated by checking bank accounts during the year, but at the end of the year we will see who will be rejected and who will be approved. 

Well the previous letter was pretty much short and sweet and certified very little, if they are required to issue something more detailed as a standard immigration need to request it and the banks either will or won't. 

How do you know for sure it will change? The previous 3 months seasoning was only confirmed by the copies of bank pass book in my case. 

[garyk]

34 minutes ago, JLCrab said:

I could ask the same of you -- other than the 800K might have to stay in the bank longer why is this a big new transfer of wealth other than as some might say a big transfer of wealth to the agent squad.

 

I don't know that those who have played bunco games in the past on extensions of stay are going have some epiphany and swear off the folly of their previous ways  and start putting 800K deposits into the Thai banks.

Wow, haha

[DrJack54]

On 2/6/2019 at 3:16 PM, Peterw42 said:

Yes thats right, still no information for people living on share dividends etc

Yes and that's a very big group of people. Does that mean they will be forced into the "money in the bank method"....

[rott]

On 2/6/2019 at 3:11 PM, Peterw42 said:

Great post @mojaco. Given that they didnt issue any instructions to come back in 90 days etc, that pretty much confirms that they will check account at next extenstion.

 

That also means they wont be catching anyone, using an agent etc, until next extension.

You are a scream Peter, "catching anyone, using an agent". Agents do not issue extensions IOs do.

 

Puzzled by the comma after anyone. Typo or what?

[Peterw42]

11 minutes ago, DrJack54 said:

Yes and that's a very big group of people. Does that mean they will be forced into the "money in the bank method"....

I have trouble keeping track of my income, share trading, share dividends, flipping properties, rentals etc, let alone trying to explain it to immigration.

[DrJack54]

If someone is a millionaire, do they have to have an income? 

[HHTel]

5 hours ago, Jingthing said:

Why might it change? 
Well, sir, here is a clue.

Never in the history of Thai immigration has there been a money seasoning requirement AFTER an extension is granted.

I hope that answers your question well enough. 

There have always been rules governing requirements between extensions.  i.e. the previous 12 months prior to making a new application. i.e. income over the previous year for one.  A new requirement is that income must now be paid into a Thai bank monthly showing it came from a foreign source.

Do you think you will be required to turn up at immigration every month to show that you have transferred funds.  Will you have to show up at immigration 2 or 3 months before an extension to show that you have deposited cash at the start of 'seasoning'.

Never has anyone been monitored during the validity of an approved extension of stay and it isn't going to happen now.  Give the immigration some credit.  They are not stupid.

 

Once again, TV posters dreaming up problems that don't exist.

Time will tell of course.  Anyone taking side bets???

[HHTel]

5 hours ago, garyk said:

The Thai's are laughing all the way to the bank.

You really think the infinitesimal amount of cash we put into the banks ere makes one iota of difference to any bank.  If you do then you have no appreciation of how small a group retired expats are. 

[watcharacters]

On 2/6/2019 at 2:58 PM, pontious said:

2 offices - 2 different answers - this will be a real buggers muddle.

 

That part of the retirement extension process will remain in effect as  long as there is a Thailand.

[Jingthing]

5 hours ago, HHTel said:

There have always been rules governing requirements between extensions.  i.e. the previous 12 months prior to making a new application. i.e. income over the previous year for one.  A new requirement is that income must now be paid into a Thai bank monthly showing it came from a foreign source.

Do you think you will be required to turn up at immigration every month to show that you have transferred funds.  Will you have to show up at immigration 2 or 3 months before an extension to show that you have deposited cash at the start of 'seasoning'.

Never has anyone been monitored during the validity of an approved extension of stay and it isn't going to happen now.  Give the immigration some credit.  They are not stupid.

 

Once again, TV posters dreaming up problems that don't exist.

Time will tell of course.  Anyone taking side bets???

Huh?!? I was clearly talking about rules for the 800k bank method. No imported income is require for that whatsoever. 

If you're going to post here, please take the time to acquire some BASIC knowledge about the topics at hand.

[HHTel]

Oh for goodness sake.  The requirements are cash in the bank OR OR OR income.  The verification of either is the SAME SAME!!

 

Income is checked at the next extension.

Cash in the bank is checked at the next extension.

I mentioned both options.  Although this topic title states 800,000 in the bank, the options are linked and both are checked in the same way.

 

Don't wind me up!!!

[Jingthing]

12 minutes ago, HHTel said:

...

Cash in the bank is checked at the next extension.

...

Foul!

Under the new rules we have as yet been provided no details whatsoever on the enforcement procedures for the 800K bank method. To assert that you know it will only be checked upon the next extension is FALSE INFORMATION in the sense that it might turn out to be true, and it might not. The correct thing is to simply say we don't yet and anyone that says they know before we know if full of it. 

Cheers.

[MrMuddle]

Can someone please explain which type of Bank account, is acceptable to have the 800,000 Baht in, for the retirement stamp, under the new rules?
I have had my 800K in a fixed rate deposit account for many years, is that still acceptable?
Thank you

Edited February 8, 2019 by MrMuddle
additional information added

[HHTel]

9 minutes ago, MrMuddle said:

Can someone please explain which type of Bank account, is acceptable to have the 800,000 Baht in, for the retirement stamp, under the new rules?
I have had my 800K in a fixed rate deposit account for many years, is that still acceptable?
Thank you

There hasn't been any statements to the contrary.  Immigration will accept an account providing that it can be accessed immediately.  Some fixed rate accounts will not allow this and will freeze your deposit (in effect) until the term is complete.  That is not accepted by immigration.

[jacko45k]

23 hours ago, DrJack54 said:

Yes and that's a very big group of people. Does that mean they will be forced into the "money in the bank method"....

If the dividends are sufficient, surely they can be banked in a home country, and sent over in 65,000 baht/month qualifying transfers.

[onera1961]

On 2/6/2019 at 7:24 PM, chrisinth said:

If they stick to the term pension literally, I can envisage a lot of grief for many.

They have to just move to an area where the office does not consider income from pension only. That's is the price one must pay for living in a police state with a facade of democracy. May be things will improve when the new government comes next year.

[JackThompson]

6 hours ago, onera1961 said:

They have to just move to an area where the office does not consider income from pension only. That's is the price one must pay for living in a police state with a facade of democracy. May be things will improve when the new government comes next year.

It has been getting progressively worse for us regardless of the PM/govt in power.  Whatever deals are made between power-factions in the future, I would not anticipate that "helping foreigners stay" will be put forward in exchange for something else.  It is possible we could be sold further down the river, when the deal-making begins.

[fforest1]

1 hour ago, JackThompson said:

It has been getting progressively worse for us regardless of the PM/govt in power.  Whatever deals are made between power-factions in the future, I would not anticipate that "helping foreigners stay" will be put forward in exchange for something else.  It is possible we could be sold further down the river, when the deal-making begins.

Jack this is another of MANY really great posts you have made....So many people just look at one event in a isolated way and dont try and see a pattern or connection to other events...

If a list was made of all visa changes that have been made in the last 10 years and each change was either marked Loosening or Tightening I think the total Tightening would read about 97-98%......

At first the changes where kind of small and infrequent..

But now they seem to have more confidence and are hitting harder and much more frequent....

Its not possible to know the end game....But if these never ending visa tightenings continue you dont have to be a rocket scientist to see what to end result will be....

 

There will be a whole lot of good people both Thai and Farang whos lives will be destroyed.....Because the powerful are playing chess with peoples lives...

[ThaiPauly]

My friend went to his visa agent yesterday (Star Visa Chiang Mai)  to try to get some clarification of the new rules and one they gave him which I had never heard of was 400,000 permentantley on deposit and a 40,000 baht  transfer each month,  once it is logged it can be spent to support ourselves.

 

That is good enough for a retirement visa, and does not need to be identified as Pension as long as it is logged in as an overseas transfer of funds.

 

This is what they are saying , I don't know if it is 100% correct, maybe someone else can confirm?

[mojaco]

400/40 is for marriage to a Thai extension, not retirement.  800/65 is still the retirement requirements

 

[steve73]

2 hours ago, ThaiPauly said:

My friend went to his visa agent yesterday (Star Visa Chiang Mai)  to try to get some clarification of the new rules and one they gave him which I had never heard of was 400,000 permentantley on deposit and a 40,000 baht  transfer each month,  once it is logged it can be spent to support ourselves.

 

That is good enough for a retirement visa, and does not need to be identified as Pension as long as it is logged in as an overseas transfer of funds.

 

This is what they are saying , I don't know if it is 100% correct, maybe someone else can confirm?

Yes - this appears to be acceptable under the "combo" rules. 

Lots of discussion about this yesterday on the following thread.

https://forum.thaivisa.com/topic/1083740-marriageretirement-interpretations-explained/

[Robins]

On 2/6/2019 at 2:38 PM, jacko45k said:

Any mention of when you do the 90 day report you will need to prove you still have the 800,000 baht?

Haven't they ever heard of the concepts of auditing and using telephones?  Select retirees at random and checking to see if they have the 800,000 Baht correctly deposited,  If there's any question, call the bank instead of making the expat run back and forth with one of those silly letters.  

 

Signing a document giving Immigration blanket permission to check with your bank by phone at any time would be more efficient for them and easier for us. 

[jacko45k]

7 hours ago, Robins said:

Signing a document giving Immigration blanket permission to check with your bank by phone at any time would be more efficient for them and easier for us. 

I am uncomfortable with that.

There are plenty options that can be done live, I could pull my phone out and show my balance in 5 seconds flat, but that doesn't work for quite a few retired guys, who are not tech savvy and use a phone from the last millennium. 

 

Sampling was mentioned, particularly for Jomtiem who do not have the resources to police 12,000 retirement extension Expat's bank accounts. Consensus suspects the policing will be done when the next Extension is applied for, the punishments for failure are a big fear. Go away without, come back in 7 months with untouched money and a brand new Non-Imm visa!

(Or have a private chat with someone!)

Edited February 20, 2019 by jacko45k