Moving to Thailand 2020

[Tanoshi]

2 minutes ago, NCC1701A said:

assuming you are retiring, sell all your stuff and put 800,000 baht in a Thai bank to satisfy Thai immigration.

 

The OP is a Thai national.

He won't be under Immigration control.

[ShortTimed]

If the OP has not spent stleast a year in Thailand then I would not suggest selling the farm and moving over here including transferring all savings into a local bank.

Read this forum. There are alot of disgruntled guys over here. There are also legitimate complaints that are hard for a western mind from a first world country to adapt to.

Just place your life back home on hold and come experience this place beyond the honeymoon stage and you could save yourself a bundle.

Plus your money is far safer sitting in an FDIC American bank and you don’t take a risk of losing to exchange rates.


Sent from my iPhone using Thaivisa Connect

[ICELANDMAN]

1 hour ago, Kelsall said:

Sell everything except for laptop and clothes.  Show up with only two suitcases of stuff.  We drive on the left side of the road here so your US car will not work.

Clothes also ????

[jethro69]

2 hours ago, Kelsall said:

We drive on the left side of the road here

should have added "most of the time" ????

[Tanoshi]

28 minutes ago, ShortTimed said:

Plus your money is far safer sitting in an FDIC American bank and you don’t take a risk of losing to exchange rates.

Between 2008 - 2017 a total of 529 US banks failed and filed for bankruptcy.

How many Thai banks failed in that same period?

[JackThompson]

21 minutes ago, Tanoshi said:

57 minutes ago, ShortTimed said:

Plus your money is far safer sitting in an FDIC American bank and you don’t take a risk of losing to exchange rates.

Between 2008 - 2017 a total of 529 US banks failed and filed for bankruptcy.

How many Thai banks failed in that same period?

How many of those who had money in the USA banks were not covered by the FDIC?  Note that the somewhat-similar Thai banking protections are being reduced.

 

But the greater problem is access.  One always has an absolute right to "be in" one's passport-country.  Immigration does not follow their own laws/rules at many entry-points and local-offices, so even if a visitor does nothing wrong, they could find themselves suddenly unable to "be in" Thailand.

 

This is not to say that no one should ever put money in a Thai bank, but that they should never put a critical-amount of their savings in Thailand.  Unless/until the situation changes, and immigration shows a long-term pattern of consist policies (don't hold your breath), it is wise to only put money in Thailand which one can afford to lose.

[Jimlim]

41 minutes ago, jethro69 said:

should have added "most of the time" ????

Good advice..thank you. I did rented a scooter & drove on the wrong side. ????

[Jimlim]

1 hour ago, ICELANDMAN said:

Clothes also ????

Thank you! Good advice. I was hoping to bring a few used computers, desktops, laptops, and tablets for use in the free school that I want to open to teach children English & computer skills.

[ShortTimed]

Between 2008 - 2017 a total of 529 US banks failed and filed for bankruptcy.
How many Thai banks failed in that same period?

Key words: FDIC insured.

Of the bank failures you listed, any that were FDIC insured did not result in a loss to the customer as long as limits were adhered to.

In order to move all of his savings into a Thai Bank, does it have to be converted into Thai currency?

Now lets say he decides to return to the US in 6 months. What will the exchange rate be at that time?

What does the typical new expat know of Thai banks? Nothing.

Can he expect that his banking questions will be understood and answered by a staff that speaks fluent english? I do not know but he can with his US bank.

Lastly, and I don’t know if this is a consideration for the OP but it is for me. It is more difficult for someone over here to access my documents and make withdrawals from my US bank than it is for someone to do that to a Thai bank and if someone does gain illegal access to my funds through identity theft then I have US law enforcement to investigate.

Based only what I have read here, it sounds like many long time expats do not hold equal confidence with the Thai legal system.

Once the OP has been here awhile and knows he will be staying and has fully investigated the financial institutions in Thailand then he can move his funds here if he desires.

BTW, how many guys have moved to Thailand over the years with every intent of staying but then leave in the first 12-24 months? Through their own volition or failing to secure proper Visas, etc.

Sorry but when it comes to my finances, then I am careful.

[Jimlim]

2 hours ago, ShortTimed said:

If the OP has not spent stleast a year in Thailand then I would not suggest selling the farm and moving over here including transferring all savings into a local bank.

Read this forum. There are alot of disgruntled guys over here. There are also legitimate complaints that are hard for a western mind from a first world country to adapt to.

Just place your life back home on hold and come experience this place beyond the honeymoon stage and you could save yourself a bundle.

Plus your money is far safer sitting in an FDIC American bank and you don’t take a risk of losing to exchange rates.


Sent from my iPhone using Thaivisa Connect

Hello ShortTimed,

Thanks so much for your input.  I don't plan to make big decisions until 2 years of experiencing living in the flesh in Thailand.  I do have a positive attitude about life in general & I believe my first 13 years of life born & raised in a poor  family in Central Thailand gives me enough thick skin to be able to adjust to living conditions here.  

I thank you for your financial advice & truly appreciate it.

Jimlim

[Tanoshi]

1 hour ago, JackThompson said:

How many of those who had money in the USA banks were not covered by the FDIC?  Note that the somewhat-similar Thai banking protections are being reduced.

Up to 1M at Commercial banks.

100% at Government banks.

98.5 of Thai bank accounts have less than 1M baht deposited.

 

Foreigners are struggling to deposit 800K or even 400K by accounts on TV.

[ShortTimed]

Hello ShortTimed,
Thanks so much for your input.  I don't plan to make big decisions until 2 years of experiencing living in the flesh in Thailand.  I do have a positive attitude about life in general & I believe my first 13 years of life born & raised in a poor  family in Central Thailand gives me enough thick skin to be able to adjust to living conditions here.  
I thank you for your financial advice & truly appreciate it.
Jimlim

I have a feeling you are going to do great...and be very helpful to the younger generation in your extended family that can benefit from your experience.

Sounds like a good future!

[Jimlim]

3 minutes ago, ShortTimed said:

 

I have a feeling you are going to do great...and be very helpful to the younger generation in your extended family that can benefit from your experience.

Sounds like a good future!

 

I am coming home to give back, It feels like my purpose ...I love the people, but I will stay away from politics.

[Tanoshi]

1 hour ago, ShortTimed said:

What does the typical new expat know of Thai banks? Nothing.

Depends if the expat his head in a bucket of sand or did some research beforehand.

 

1 hour ago, ShortTimed said:

In order to move all of his savings into a Thai Bank, does it have to be converted into Thai currency?

Is that a question?

 

1 hour ago, ShortTimed said:

Now lets say he decides to return to the US in 6 months. What will the exchange rate be at that time?

Where did the OP state he was moving all his US funds to Thailand.

 

1 hour ago, ShortTimed said:

Can he expect that his banking questions will be understood and answered by a staff that speaks fluent english? I do not know but he can with his US bank.

He was 13 when he left Thailand, his Mother is Thai. 

His questions to a Thai bank will be in Thai language, not English

[ICELANDMAN]

2 hours ago, jethro69 said:

should have added "most of the time" ????

They sometimes even drive to the right to make the shortest route to paradise ????

[Tanoshi]

@Jimlim

Check your PM.

[Jimlim]

10 minutes ago, Tanoshi said:

Depends if the expat his head in a bucket of sand or did some research beforehand.

 

Is that a question?

 

Where did the OP state he was moving all his US funds to Thailand.

 

He was 13 when he left Thailand, his Mother is Thai. 

His questions to a Thai bank will be in Thai language, not English

I am a Thai citizen now, & not required to move my money into a Thai bank.  However, my guest and my good friend will need help with immigration issues & that is why I am educating myself here & now before 2020 when we are moving to Thailand. 

I still appreciate all advice of moving here from expat community. 

[Tanoshi]

1 hour ago, Jimlim said:

Thank you! Good advice. I was hoping to bring a few used computers, desktops, laptops, and tablets for use in the free school that I want to open to teach children English & computer skills.

Your only allowed one item of each different electrical appliance.

1 x computer

1 x TV

1 x monitor

1 x fridge, etc, etc.

[sungod]

52 minutes ago, Jimlim said:

I love the people, but I will stay away from politics.

You should also try and stay away from the all the bitter and twisted guys on Thai Visa also!!! ????

[Jimlim]

To both ShortTimed & Tanoshi,

You both are correct for my situation because there are going to be 2 of us moving here to Thailand. I am Thai & my good long time friend is a Farang.  I have not live in Thailand for over 40+ years. I need alot of help learning the new country, my birth country.  

 

I appreciate both of your input.

[Jimlim]

ShortTimed,

Appearently, Tonashi is somewhat an experienced forum contributor because he read my earlier post & knew me from that post.  

It is all good advice because I need both sides as for myself, a Thai/US citizen, and for my friend a US citizen hoping to retire here in Thailand and volunteer our experience to the Thais.

[1FinickyOne]

5 hours ago, ocddave said:

Ditto.....don't buy a used car from a Thai, even my wife warned me on that one. Just buy new and take care of it.....sticker shock was why i went with a cheap hatchback....LOL 

The reasoning behind that is that if the vehicle has any value left, they will give it to a family member or a family member will want to buy it,... if it is a piece of junk, nobody wants it, they sell it... 

[ubonjoe]

Several baiting and bickering posts have been removed. Time to end it or formal warning will be given.

[connda]

Edited March 25, 2019 by connda

[agrow]

TO answer your post i shipped a container out of oz in July 2018 ,in my Thai wife's name. (getting ready for the big move),had tools & machinery( bobcats),household items, wife has lived in oz past 10 years, had not one problem so much so have another on the water as I type this. she was allowed 1 container tax-free but still paid a little duty so am expecting this one to cost more . same deal, has workshop tools & machinery (mini excavators). y not buy here u say well, new is too expensive & second hand r from Japan (overheating problems) + I all ready own these. fingers crossed this one is as easy as the first. 

[ShortTimed]

He was 13 when he left Thailand, his Mother is Thai. 

His questions to a Thai bank will be in Thai language, not English

 

Tanoshi,

Thanks for this additional information.

I don’t think many of us were aware of these circumstances of the OP being a Thai National returning home when we posted.

 

Since you have communicated with him by PM you are certainly in a great position to help.

[samran]

The only thing I’d add is to make sure you have evidence that you have been outside of Thailand for one year prior to coming back if you hope to get the duty free concession.

 

For all intents and purposes, a clear window of one year from your last departure from Thailand to your return, as evidenced by entry and exit stamps in your Thai PP. 

 

I was living overseas for a couple of years but coming to Thailand occasionally for business in the year prior to moving back, as well as setting up our move. 

 

When I took my Thai PP to the shipping agent, customs rejected the duty free allowance because of these trips given my passport showed evidence of trips here. 

 

I took the allowance to mean not being in Thailand as a resident - which I wasn’t - but customs defines it strictly,  no entries into Thailand for one year prior to moving back and claiming your allowance.

 

Good luck with your move.  

Edited March 25, 2019 by samran

[Captain 776]

You will pay a high duty for anything you bring.

Dont bring sand to the beach.

What special tools are you referring to?

They have excellent tool shops here and probably at a better price than you paid for it in USA, then you will pay to ship it and pay Duty on it...........makes no sense for probably 90% of what you plan on shipping.

 

Cars are expensive here and there is no negotiating like in USA........HERE THEY THINK THEY ARE doing you a big favor if they give you a 5000 BHAT (150 dollar) discount.

For example, I bought a brand new 2016 Honda HRV for the equivalent of 31,000 dollars..........the same vehicle in USA would have been 26,000

Here in Thailand they give you a list of 10-15  29 cent options like floor mats, paint sealing, tint your windows and things like this rather than the larger discounts we are used to getting from dealers in USA

[Captain 776]

8 hours ago, Kelsall said:

BTW, where's a good place to find a good 230 to 120 V transformer?  I could use one myself.

Amorn Electric. They have one in Pattaya and one in Chiang Mai and most likely in Bangkok........they have all flavors and wattages

[chainarong]

9 hours ago, Kelsall said:

Sell everything except for laptop and clothes.  Show up with only two suitcases of stuff.  We drive on the left side of the road here so your US car will not work.

And U might have to get a permit to drive a L/H vehicle on Thai roads