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Going under 400,000


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4 minutes ago, bert bloggs said:

You may be here"playing in Thailand" but what about the vast majority of us who live normal decent lives here with our family?

Well.......the price has gone up to "live a normal decent life with your family".

Can't meet the new rules, then you'll have to take your family back to your country of origin.

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4 minutes ago, Joe Mcseismic said:

Well.......the price has gone up to "live a normal decent life with your family".

Can't meet the new rules, then you'll have to take your family back to your country of origin.

No changes for those applying for extensions of stay based upon marriage to a Thai or the parent of one.

Even for those on an extension based upon retirement in reality there is no change to the basic financial requirements of 800k baht in the bank or 65k baht income.

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5 minutes ago, Joe Mcseismic said:

Thai banks will not give loans to foreigners unless there is collateral in their name, or a Thai guarantor.

What's to stop the foreigner just leaving the country?

Thanks Joe, but the whole point of this is that although it "might" be quantified as a loan, the foreigner will never have the opportunity to actually withdraw the money because they won't have access.  This is put into what is called a compte nanti (or pledged account).

But you raise a good point too:  I have bought a couple of properties, which are (happily) in my wife's name.  I'd be completey happy to use these as ollateral, especially if I know that the principal sum cannot be touched and there is, therefore, no risk to our collateral.  That facility would be worth a reasonable monthly fee.

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3 minutes ago, saminoz said:

Thanks Joe, but the whole point of this is that although it "might" be quantified as a loan, the foreigner will never have the opportunity to actually withdraw the money because they won't have access.  This is put into what is called a compte nanti (or pledged account).

But you raise a good point too:  I have bought a couple of properties, which are (happily) in my wife's name.  I'd be completey happy to use these as ollateral, especially if I know that the principal sum cannot be touched and there is, therefore, no risk to our collateral.  That facility would be worth a reasonable monthly fee.

The 400k is not yours if via such a loan , no different to an agent loan. 

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1 hour ago, PaulDee said:

 

Just breezed through my 90-day report in Jomtien. The question of bank balance never arose.

It doesn't apply to you.   It applies to people who received a retirement extension at Jomtien on or after March 1, 2019 using the 800k method.

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5 minutes ago, Olmate said:

The 400k is not yours if via such a loan , no different to an agent loan. 

If it is a loan , especially if secured against your collateral, it IS yours.  I beieve that the agent loans are, pretty much, just for the day of the renewal only?

This arrangement would be a yearly loan arrangement between a bank and the borrower, no different to any other type of loan arrangment except, in this case, it is more of a secured facility as opposed to an actual withdrawable amount.

I take your point though.

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7 minutes ago, saminoz said:

If it is a loan , especially if secured against your collateral, it IS yours.  I beieve that the agent loans are, pretty much, just for the day of the renewal only?

This arrangement would be a yearly loan arrangement between a bank and the borrower, no different to any other type of loan arrangment except, in this case, it is more of a secured facility as opposed to an actual withdrawable amount.

I take your point though.

Ok, how do you manage to have the 800, but not the 400, more loan? Another query I understood the money must be in a readily available account with no penalty to withdraw?

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Perhaps, if you can get the money back in the bank in the same month you took it out, they may overlook it?  Otherwise use the income method and the deposit methods as mutual backups.  Alternatively,  rely on short term visas until you can get back to a year of deposits or withdraw it all, add some and get an Elite visa.

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Perhaps, if you can get the money back in the bank in the same month you took it out, they may overlook it?  Otherwise use the income method and the deposit methods as mutual backups.  Alternatively,  rely on short term visas until you can get back to a year of deposits or withdraw it all, add some and get an Elite visa.
Perhaps, if you can get the money back in the bank in the same month you took it out, they may overlook it? 

No way!

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

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2 hours ago, ubonjoe said:

No changes for those applying for extensions of stay based upon marriage to a Thai or the parent of one.

Even for those on an extension based upon retirement in reality there is no change to the basic financial requirements of 800k baht in the bank or 65k baht income.

Yes, absolutely. There are a choice of different methods and visas available for those that can't make, or don't want to go down the 800k route.

That is why I just can't understand the gnashing of teeth, the wailing and throwing ashes on the head.

So many drama queens. Some even positing leaving the country over it.

Edited by Joe Mcseismic
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4 hours ago, PaulDee said:

 

Just breezed through my 90-day report in Jomtien. The question of bank balance never arose.

And why should it? The requirement to show bank balance 3 months later is only being asked of those doing retirement extensions based on money in the bank relatively recently. 

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22 hours ago, Peterhua said:

So you put your 800 grand in a Thai bank for 5 or is it 6 months, then an unforseen circumstance arises where you might need your bank balance to go under 400 thousand Baht, then what?

Death penalty 555 

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1 hour ago, Jingthing said:

Perhaps, if you can get the money back in the bank in the same month you took it out, they may overlook it? 

No way!

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app
 

And you know this how?  I don't think anyone has tried it yet.  I'm just saying if the choice is to be kicked out or to try putting the money back (quickly), I personally would give it a try.

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5 minutes ago, AAArdvark said:

And you know this how?  I don't think anyone has tried it yet.  I'm just saying if the choice is to be kicked out or to try putting the money back (quickly), I personally would give it a try.

Being kicked out, by which you must mean having your currently running extension cancelled, sounds extreme. Nobody knows for sure but the worst surely would being required to show the reason for accessing the money with proof, and being required to reinstate it. 

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3 minutes ago, jacko45k said:

Being kicked out, by which you must mean having your currently running extension cancelled, sounds extreme. Nobody knows for sure but the worst surely would being required to show the reason for accessing the money with proof, and being required to reinstate it. 

Where does this optimism come from?
There was already a report here of an expat being told if showing up for a required 90 day bank book check in as they do at Jomtien now, if under, the extension would be CANCELLED.

Then what? We don't know. Detention? Blacklisting? Deportation? Overstay fines from the date of non-compliance in the account? Nobody knows. Immigration is NOT saying. 

But it's fair to assume that if explicitly ordered to show up for a 90 day bank book report, they aren't looking at your bank book for their health or to talk about your tomato garden. They're looking at it to check compliance, and at the very least, as already reported immediate cancellation of current extension is an entirely logical and expected consequence. 

Edited by Jingthing
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2 minutes ago, Jingthing said:

Where does this optimism come from?

My sunny disposition.

I asked the question of a Visa agent and of course he suggested I would need to come see him to get it sorted. Although he pooh-poohed the idea that a person would have their extension cancelled and put on a 7 day, get out, extension (for 1900 baht?) .

Personally I might be avoiding attending immigration!

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3 minutes ago, jacko45k said:

My sunny disposition.

I asked the question of a Visa agent and of course he suggested I would need to come see him to get it sorted. Although he pooh-poohed the idea that a person would have their extension cancelled and put on a 7 day, get out, extension (for 1900 baht?) .

Personally I might be avoiding attending immigration!

My posts are about people that are trying to play the immigration game according to the rules. People that participate in corruption with the use of agents are out of my scope. I will say clearly if the agents can continue to offer these services in the current horribly onerous conditions, they are surely going to attract more business from people some like me, that have so far resisted getting on the corruption track. 

There are some conspiracy theories that this is what all the onerous rule changes are about -- to drive more business into the corruption zone.

I don't indulge in such theories but I understand where they are coming from. 

Edited by Jingthing
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57 minutes ago, Joe Mcseismic said:

Yes, absolutely. There are a choice of different methods and visas available for those that can't make, or don't want to go down the 800k route.

That is why I just can't understand the gnashing of teeth, the wailing and throwing ashes on the head.

So many drama queens. Some even positing leaving the country over it.

Single 50+ year old guy currently on retirement extension who doesn't want to or can't obey the new rules. Where are his different methods or visa options? Enlighten us...

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9 minutes ago, Peterhua said:

Single 50+ year old guy currently on retirement extension who doesn't want to or can't obey the new rules. Where are his different methods or visa options? Enlighten us...

Said tens of times on this forum :

- 800k in the bank; or

- monthly transfers of 65k; or

- proof of income from Embassy; or

- O-A visa if not enough money

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1 minute ago, Pattaya46 said:

who doesn't want to or can't obey the new rules.

 

1 minute ago, Pattaya46 said:

Said tens of times on this forum :

- 800k in the bank; or

- monthly transfers of 65k; or

- proof of income from Embassy; or

- O-A visa if not enough money

If he doesn't want to obey any of the rules I doubt any of those fit!

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38 minutes ago, Jingthing said:

Where does this optimism come from?
There was already a report here of an expat being told if showing up for a required 90 day bank book check in as they do at Jomtien now, if under, the extension would be CANCELLED.

Then what? We don't know. Detention? Blacklisting? Deportation? Overstay fines from the date of non-compliance in the account? Nobody knows. Immigration is NOT saying. 

But it's fair to assume that if explicitly ordered to show up for a 90 day bank book report, they aren't looking at your bank book for their health or to talk about your tomato garden. They're looking at it to check compliance, and at the very least, as already reported immediate cancellation of current extension is an entirely logical and expected consequence. 

If that were the case (extension cancelled as of the day your balance drops below the threshold,) would they give you 7 days to leave or would your overstay kick-in immediately? I would assume it would be in one's best interest to notify them immediately upon breaching the threshold rather than being discovered at a later date.

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2 minutes ago, PFV said:

If that were the case (extension cancelled as of the day your balance drops below the threshold,) would they give you 7 days to leave or would your overstay kick-in immediately? I would assume it would be in one's best interest to notify them immediately upon breaching the threshold rather than being discovered at a later date.

We don't know.

That's why it's important that we get much more information on the specific consequences possibly in addition to extension cancellation. 
My point being, if there is any chance of leniency (I doubt it) immigration needs to let us know.

If not, then expats in non-compliance may be much better off just leaving Thailand voluntarily BEFORE showing up at any show bank book meeting.


Cheers. 

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