Must Read Holding the balance: Phuket Immigration clarifies new rules on retirement visas to start March 1

[cedel]

18 minutes ago, marcusarelus said:

How would they value the mutual fund at the time or your extension?  Stock broker/Imm agent desk at you local immigration office?

there is always a value, even if it fluctuates like the change rate of the pound, the euro or the USD when they have to value your pension...it is the same (same-same ;-))

Anyway, I think that fixed deposit accounts are valid and offer more intetrest than "saving account (currently 0.50 %/year)...

[lvr181]

3 minutes ago, marcusarelus said:

That's actually why I'm here.  If I wanted Falang culture I'd have stayed home. 

That is NOT what I said! Are you being disingenuous?

 

I was about to make the effort to move to Thailand and coming from a western nation (where approximately 26% of our citizens were born overseas) and they happily fit in, recognise their own culture but also enjoy ours. It seems that the Kingdom has a problem with 'caucasian/farang' and are not really welcoming to them - nothing to do with me needing/wanting 'farang culture' above all. Apart from all the regulatory hassles, seemingly constant rule changes and outright corruption, I figured I don't need the worry. I'll stick with visiting from time to time and enjoy their culture while there. So much easier.

[malibukid]

8 hours ago, Joe Mcseismic said:

Very much doubt the banking industry has anything at all to do with this.

The money is such a relatively small amount.

If there were a total of 10,000 people using the 800k method for retirement (I very much doubt that there are that many), then it adds a total of only 4 billion Baht (US$133,000,000) spread out over all banks. A drop in the ocean.

Too many people overestimate the economic benefit to Thailand of foreign retirees.

far more than 10K retiree's in Thailand.  what is your source?

[maddox41]

The issue I have is in most farang country's you can't take you social security till you 60 

 I'm 50  so to have 400 K looked in a thai bank acc at all times with 1% interest is a worry . When I could be using that money I'm my country to create further  income. around 5 % per month on fx trading 

Also I cant see why they Couldn't have a rule that if you have full Thai  medical insurance here you don't need the 400 K as I believe  that's why they want you to keep the  400k in the acc if you get ill it's also free money for the thai banks. 

How do they know if you go under the 400k in the year  in your thai acc as he states you can't go under it  ( buy the 90 day report)  looks like the Thai elite visa is the go 5 yrs 500 K no rules free limo fast lane thru the airport  and when you weight it up its pretty good option now with no dramas.

[malibukid]

6 hours ago, Mavideol said:

something just hit me.... elections are suppose to take place March 24 or around there, let's assume (for one moment) the current (junta) ruler is not the chosen one, will all this new rules still apply or do we have a (slim) chance of getting them changed

if as is suspect the banks are behind this, not a chance.

[Joe Mcseismic]

13 minutes ago, malibukid said:

far more than 10K retiree's in Thailand.  what is your source?

.....and they are all using the 800k method? None on monthly income? None doing the combo?

[marcusarelus]

49 minutes ago, lvr181 said:

That is NOT what I said! Are you being disingenuous?

 

I was about to make the effort to move to Thailand and coming from a western nation (where approximately 26% of our citizens were born overseas) and they happily fit in, recognise their own culture but also enjoy ours. It seems that the Kingdom has a problem with 'caucasian/farang' and are not really welcoming to them - nothing to do with me needing/wanting 'farang culture' above all. Apart from all the regulatory hassles, seemingly constant rule changes and outright corruption, I figured I don't need the worry. I'll stick with visiting from time to time and enjoy their culture while there. So much easier.

What constant rule changes?  For retired folks 1 or 2 in 20 years?  Is that what you call constant?  I know of no country in North America that accepts foreign culture or even its own natives for example Canada and America certainly are not accepting of native/foreign cultures.  American I9 forms?  I know a bit about them.  Corruption?  I used to live i Chicago.  Thailand is straight and narrow from my experience. 

 

But if you think 1 rule change in 20 years is constant change and Thailand has a lot of regulatory hassles you better not move. 

[jgarbo]

On 2/16/2019 at 2:10 PM, Hellsten said:

I probably need to move out from this madhouse soon  If the bath go more stronger I'm out, don't have the money to stay and I'm married and have lived her for soon 15 years, this IS my Home! I have no place to go! ????

The paper from the embassy show the income Before Tax

the Bank after Tax there is a big difference.

You live here very long time you married a Thai and take care the family

But you have NO RIGHT what so ever and they still make it even more difficult

for us to stay here I probably spend 8-900000 a year here the most time but now when I get older the money is not to great now, and the Bath is too damn strong

I lose about 30000thb/month compare from the first time I come her

Not to nice of you Thailand!

 

Oh dear, you do not understand the game...

[ttrd]

RE - PHUKET: Phuket Immigration this week clarified the new rules regarding applications for retirement visas, confirming only one major change: that for those applying using funds in a Thai bank account to support their application, a minimum of B400,000 must be kept in the account throughout the year.

 

It is mainly 3 important details that still is unclear:

 

(1) When you have received your visa and face the first 90 days reporting do you need to take with you bankbook/bank statement to prove that the 800k/thb are still and untouched in your account?

 

(2) Do you then need to do that on every 90 days reporting throughout the year to prove that the balance never is below 400k/thb?

 

RE - Asked what happens to applicants who are discovered next year dipping into the account, bringing the balance below B400,000, Col Acheep said, “Just don’t do it. Keep it at B400,000.”

 

https://www.thephuketnews.com/holding-the-balance- phuket-immigration-clarifies-new-rules-on-retirement-visas-to-start-march-1-70401.php#qgBqsVHsLejG2iWL.99

 

(3) What will actually happen if the balance goes below 400k/thb - Would you be given a chance in a limited period to make a deposit to meet the requirement or will your visa be immediately cancelled?

Edited February 17, 2019 by ttrd

[metisdead]

An off topic post has been removed. 

[rosst]

On 2/16/2019 at 3:10 PM, Hellsten said:

I probably need to move out from this madhouse soon  If the bath go more stronger I'm out, don't have the money to stay and I'm married and have lived her for soon 15 years, this IS my Home! I have no place to go! ????

The paper from the embassy show the income Before Tax

the Bank after Tax there is a big difference.

You live here very long time you married a Thai and take care the family

But you have NO RIGHT what so ever and they still make it even more difficult

for us to stay here I probably spend 8-900000 a year here the most time but now when I get older the money is not to great now, and the Bath is too damn strong

I lose about 30000thb/month compare from the first time I come her

Not to nice of you Thailand!

 

I feel your pain, I am pleased that I am now living in the Philippines and only come back to Thailand for a holiday each year, I saw the locomotive coming down the track. 

[ttrd]

2 minutes ago, rosst said:

I feel your pain, I am pleased that I am now living in the Philippines and only come back to Thailand for a holiday each year, I saw the locomotive coming down the track. 

Did you also see the tornadoes, the broken infrastructure, the significant criminality, the poor healthcare and the unexciting food prior to move to the Philippines?

[Barti]

8 hours ago, asiamaster said:

Thanks Ubonjoe. I just realised that I may qualify for (6a) as my passport shows a first entry on 13 Jan 1998 and the first non immigrant one year visa granted on 09 April 1998.

But it was initially a Non-B for 4 years, after that a Thai wife marriage visa for 2 years and since I turned 50 in 2004 a retirement visa.

It says: "and has been consecutively permitted to stay in the Kingdom for RETIREMENT etc." 

Then it goes on differentiating between being over 60 or between 55-60. Now how could anybody being just over 60 or between 55-60 have had a retirement visa already 20 years ago?

So may I conclude that I do qualify?

Your case is exactly the same as mine. Except that my original Non-B visa was granted in 1994 and since then extended continuously. As I turned 50 the same original visa was extended as a retirement visa. To answer you question, yes I believe you should qualified under (6a).

[brokenbone]

37 minutes ago, marcusarelus said:

What constant rule changes?  For retired folks 1 or 2 in 20 years?  Is that what you call constant?  I know of no country in North America that accepts foreign culture or even its own natives for example Canada and America certainly are not accepting of native/foreign cultures.  American I9 forms?  I know a bit about them.  Corruption?  I used to live i Chicago.  Thailand is straight and narrow from my experience. 

 

But if you think 1 rule change in 20 years is constant change and Thailand has a lot of regulatory hassles you better not move. 

for those of us that came well before old age,

it has been constant changes, and now that we became old enough to qualify for old age visa, it yet again changes

[fabman5]

can somebody please confirm,  I have a proof of monthly income letter,  from the British Embassy,  Got in December,  I was told this would be valid for 6 months, My current visa runs out in March. Am I still going to be able to use this letter to renew my visa?  Thanks for any advice 

[ttrd]

6 minutes ago, fabman5 said:

can somebody please confirm,  I have a proof of monthly income letter,  from the British Embassy,  Got in December,  I was told this would be valid for 6 months, My current visa runs out in March. Am I still going to be able to use this letter to renew my visa?  Thanks for any advice 

Yes you can:

 

“Under the income requirement, applicants must receive at least B65,000 per month,” Col Acheep explained.

 

As many embassies no longer issue affidavits confirming income, this is no longer required, he said, noting that letters from governments and pension fund providers will be accepted along with other forms of evidence to prove the income pending.''

 

https://www.thephuketnews.com/holding-the-balance- phuket-immigration-clarifies-new-rules-on-retirement-visas-to-start-march-1-70401.php#qgBqsVHsLejG2iWL.99

Edited February 17, 2019 by ttrd

[sandrabbit]

On 2/16/2019 at 1:42 PM, worgeordie said:

Other offices may vary ,as some just seem to make their own

rules up,a lot has been posted about these changes,many seem

to be wanting to move on to greener fields,the only good thing

for those staying,there will be less in front of you doing extensions.

regards worgeordie

I did my marriage extension in Rayong Thursday and there were more people waiting for retirement than marriage or business extension and as marriage is now split from the main group it's a shorter wait, much shorter. I did have to wait in the other group later for a 90 day report .............

 

but I will say they were fast processing applications, when I read about Chang Mai queuing from early in the morning then read about how many applications they process in a day on this forum I have to ask why do you live there?

Edited February 17, 2019 by sandrabbit

[bander]

On 2/16/2019 at 1:34 PM, smedly said:

well that's cleared that up - not

 

I am under 60yo and have been using the 800k balance for the last 5 years so do the new rules apply to me or not

 

more confusion

Does 500K on your bank AC sounds better or worse to you?

[tingtongtourist]

On 2/16/2019 at 7:00 PM, tlandtday said:

Yeah it is the wives and kids who will suffer the most from these xenophobic policies.  I predict mass overstays. 

And what if Thai IMMs check for people in the visa system of recent, whos visa expired and are not matched up with an exit stamp out of the country?

 

So it will be easier to catch any overstayers, IF they want to investigate.

 

and with all the many forms we filled out they will have no problem knowing addresses and where we hang out.

 

so maybe can also predict more overstayers getting tapped

[fouryesrs]

well sorry maybe I am a slow learner...I usualy apply for the A-O retirement one y. visa in my home country...over here I showed them an account statement that show I have 20000 Euro there plus a bag of other documents but not money related ...it is in a local account and I witdraw in thailand with my atm card  if and when I need it....i dont use a thai bank account...how about my case...???? will i receive that one year visa again...???

 

[merijn]

20 hours ago, hotchilli said:

No confusion it's simple:

Married visa: minimum 40,000 baht per month or 400,000 baht in a Thai bank for 2 months prior and 3 months after application.

Retired visa: minimum 65,000 baht per month or 800,000 baht in a Thai bank for 2 months prior and 3 months after application

 

What's confusing ???.

Nothing is changed for the extension based on marriage and no money requirements after the application approval.

Only the requirements for the extension based on retirement is changed.

 

[merijn]

10 hours ago, ttrd said:

(1) When you have received your visa and face the first 90 days reporting do you need to take with you bankbook/bank statement to prove that the 800k/thb are still and untouched in your account?

 

(3) What will actually happen if the balance goes below 400k/thb - Would you be given a chance in a limited period to make a deposit to meet the requirement or will your visa be immediately cancelled?

The new 800k, 400k requirements will be checked starting from next years applications.

So this year you need to have the 800k (before the application date) in the bank and when you apply next year for the extension you will need to proof that you had the 800k and 400k for the last 12 months. (don't forget to update your bank book on a regular basis for this)

Therefore there is no need to show financial proof when you do the 90 days reporting, The 90 days reporting will be maybe cancelled all together.

This is mainly done to block the visa agents who offer a retirement extension without the financial proof.

Also if people have the income statement (UK, USA, Aus) they can use it as long it is still valid. (6 months)

 

There are no changes to the extension based on marriage.

 

I tried to do the multi quote option but i doesn't to work for me or i'm just stupid ????

Sorry found it ????

 

 

Edited February 17, 2019 by merijn

[merijn]

17 hours ago, ImJustHangin said:

I am Canadian. Luckily my embassy is still issuing affidavits. 

So Im still on the 65K/mo plan. 

So to be clear I still dont have to keep any  funds in the bank?

 

9 hours ago, fabman5 said:

can somebody please confirm,  I have a proof of monthly income letter,  from the British Embassy,  Got in December,  I was told this would be valid for 6 months, My current visa runs out in March. Am I still going to be able to use this letter to renew my visa?  Thanks for any advice 

Yes you can use the affidavit as long it is still valid (6 months) instead of the bank balance.

[marcusarelus]

9 hours ago, brokenbone said:

for those of us that came well before old age,

it has been constant changes, and now that we became old enough to qualify for old age visa, it yet again changes

Sorry, I don't get it.  20 years no change in retirement visa. Now change in the amount left in the bank but no changes in the amount.  No changes in the monthly income amount.  What change?  If you were not being honest in the declaration of the amount that is not really Thailand's fault is it?

[marcusarelus]

5 hours ago, sandrabbit said:

I did my marriage extension in Rayong Thursday and there were more people waiting for retirement than marriage or business extension and as marriage is now split from the main group it's a shorter wait, much shorter. I did have to wait in the other group later for a 90 day report .............

 

but I will say they were fast processing applications, when I read about Chang Mai queuing from early in the morning then read about how many applications they process in a day on this forum I have to ask why do you live there?

What time did you get there and how long did the entire process take?  Do you have to go back again for the final extension?

Edited February 17, 2019 by marcusarelus

[car720]

18 hours ago, rexall said:

 

What country, drifter?  Off topic, but Panama looks really sweet.  Quite developed.  Beautiful. Tropical. Not Third World prices, but affordable. The Spanish Language is more accessible than Thai. Only requires $1,000 in pension income for retirement visa.  Even less if you buy (yes, "buy") a house. 

 

For me, Equador, where the pot is legal and I speak Spanish anyway.  

[brokenbone]

35 minutes ago, marcusarelus said:

Sorry, I don't get it.  20 years no change in retirement visa. Now change in the amount left in the bank but no changes in the amount.  No changes in the monthly income amount.  What change?  If you were not being honest in the declaration of the amount that is not really Thailand's fault is it?

i didnt come here as an old man, i only recently became old

enough to qualify for retired visa, so for me i have been exposed to never ending changes in regulations since i came here 20 years ago, and now that i thought it was finally over,  it continues to change, and i'm done with this shit

[jacko45k]

22 hours ago, Such a Hairy Guy said:

So what is the purpose of the Embassy letter if I still have to show transfer into my account?

Ours is not to reason why.....

You actually are fortunate that you can obtain an Embassy letter, it simplifies the process, in many IOs being alone sufficient. Sadly some make extra asks. 

[LazySlipper]

On 2/16/2019 at 1:30 PM, xylophone said:

For me it depends upon whether or not I can get an automatic transfer of funds from my NZ bank,

If things keep going the way they are your NZ dollar will be worth nothing... Hope you will be able to meet the requirements anyways. Gad damned bht keeps getting stronger and stronger. Can't wait for this crap to blow up in their faces.

[marcusarelus]

14 minutes ago, brokenbone said:

i didnt come here as an old man, i only recently became old

enough to qualify for retired visa, so for me i have been exposed to never ending changes in regulations since i came here 20 years ago, and now that i thought it was finally over,  it continues to change, and i'm done with this shit

Retirement extensions changed once in 20 years and only the seasoning requirement. Maybe you have other problems but they were not caused by Thailand.