Should I switch from non-immigrant Retirement O to O-A visa?

[wealthychef]

On 2/15/2020 at 10:59 PM, khunPer said:

Thanks for your reply. To me it sounds like your portfolio has a higher risk than bank deposit or like safe bonds, which I compared to. I also has a high return in my portfolios – even the SET inside Thailand – but it's also with a higher risk than bank deposit with a state guarantee...????

 

100% correct sir. 

 

[wealthychef]

On 2/16/2020 at 9:04 AM, Peter Denis said:

The fact that the foreign thai embassy issued you the Non Imm OA Visa is already proof that you met the requirements.  But border-immigration - as the PoliceOrder mandates - will of course look for the note which the issuing embassy has to add in your passport stating the validity date of your insurance policy.  So carrying a copy of the Foreign Insurance Certificate with you on entry, is recommended in case they ask for it.

 

 

Perhaps this is a typo, but I have never been issued an OA visa.  It's a new concept to me.  Carrying another piece of documentation around like that is another knock against the process, which already carries some risk to it of being denied and having to "start over" with a tourist visa, then convert it to "O" etc. 

[wealthychef]

On 2/16/2020 at 1:29 PM, Vascoda said:

If you're using an agent to get your visa, you can opt for a cheaper service that will cost you around 300/400 USD. Surprisngly agent prices have dropped after they went with the monthly income in the bank for the four consulates and modification of keeping 400K through out the year for 800K method, contrary to what most posters had anticipated. Myy be more people have switched to agents and now agents can make a decent incomes and the IOs can send their children to good private schools and buy a car due to the increased in volumes. 

 

Thank you.  I think that's good general advice, but it's a little more complicated than that for me.  I can't say much more.  ????  

[wealthychef]

On 2/16/2020 at 2:07 PM, RocketDog said:

The consensus on TVF seems to be that no insurance is accepted for O-A except Thai. Even folks who got such letters from their homeland insurers failed. 

My advice is too simply put some money in a Thai bank and keep the O visa. The insurance thing is ridiculous and fulsome. Just avoid it entirely. 

 

But for clarity, when I applied for my first O-A visa in America I just got a letter from my bank listing my accounts, their balances, and how long I had them. My doctor wrote a short letter saying I was healthy and free of communicable diseases. Likewise, my local police station gave me a form letter showing I had no convictions. All three documents were accepted without question and my passport arrived at my home 10 days later with the visa in it. This was done in summer 2017 with the Thai consulate in LA. 

 

Good luck and choose carefully. 

 

Thanks for the clarification.  I think all in all for my situation I agree with your basic assessment and will stick with the "O."  But in 9 months I'll be back here snooping around for new info.  ????  

[Peter Denis]

On 2/16/2020 at 3:04 AM, Peter Denis said:

The fact that the foreign thai embassy issued you the Non Imm OA Visa is already proof that you met the requirements.  But border-immigration - as the PoliceOrder mandates - will of course look for the note which the issuing embassy has to add in your passport stating the validity date of your insurance policy.  So carrying a copy of the Foreign Insurance Certificate with you on entry, is recommended in case they ask for it.

 

15 minutes ago, wealthychef said:

Perhaps this is a typo, but I have never been issued an OA visa.  It's a new concept to me.  Carrying another piece of documentation around like that is another knock against the process, which already carries some risk to it of being denied and having to "start over" with a tourist visa, then convert it to "O" etc. 

Hi, it was no typo.  I just commented on the option of you applying for a Non Imm OA Visa in your home-country, and that it would be wise even when being granted the OA Visa to carry a copy of the Foreign Insurance Certificate with you in case border-immigration would query you on the health-insurance requirement.

[wealthychef]

On 2/16/2020 at 2:46 PM, Martyp said:

All the OP should need is the same insurance certificate they used to apply for the O-A visa. They will use the end date of your insurance policy to determine how long to stamp in your permission to stay. The worst case, and the reported experience of TVF members trying to enter without insurance, is that a US citizen would be stamped in for thirty days visa exempt giving them time to sort things out with Immigration.

 

 

I'm the OP.  I have never had an OA visa.  FYI

[wealthychef]

On 2/16/2020 at 8:29 PM, WalkingOrders said:

OA means you need to get health insurance in accord with new Thai law. I have been here 4 yrs using income and renew at Cheng Wattana Bangkok. Easy. No issues. Renew again in 2 weeks.

 

I'm from the USA and was using affidavits to establish income.  Now that method is over and I have to start moving fairly large sums of money around to make a bureaucrat happy.  So I'm trying to avoid that.  

[ubonjoe]

16 minutes ago, wealthychef said:

I'm from the USA and was using affidavits to establish income.  Now that method is over and I have to start moving fairly large sums of money around to make a bureaucrat happy.

You only have to transfer 65k baht a month from abroad into a Thai bank account to meet the income requirement to apply for your extension.

Not needing the income affidavit made it easier for me when I applied for my extension last year. No need to make a long trip to Bangkok for the affidavit to prove my income that had been going into a Thai bank for over 7 years already. Also only 400 baht for statements and a letter from the bank verses $50 for the affidavit.

[wealthychef]

10 minutes ago, ubonjoe said:

You only have to transfer 65k baht a month from abroad into a Thai bank account to meet the income requirement to apply for your extension.

 

 

I don't spend that much money as I am gone from Thailand at least 6 months per year.  

[Peter Denis]

14 minutes ago, wealthychef said:

I don't spend that much money as I am gone from Thailand at least 6 months per year.  

The requirement is that you can prove monthly funds transfers of at least 65.000 THB. 

How you spend them is up to you.  You could even transfer the not-spend funds back to your US-account or exchange them for US $ at a SuperRich booth, and take them back home.  Obviously that would incur a currency-exchange loss, but better than having 'dead money' in the thai bank-account if you have investment opportunities in US.

[wealthychef]

19 minutes ago, Peter Denis said:

The requirement is that you can prove monthly funds transfers of at least 65.000 THB. 

How you spend them is up to you.  You could even transfer the not-spend funds back to your US-account or exchange them for US $ at a SuperRich booth, and take them back home.  Obviously that would incur a currency-exchange loss, but better than having 'dead money' in the thai bank-account if you have investment opportunities in US.

 

This seems like such an incredibly easy workaround, can anyone else here confirm this procedure?   I'd especially like to know if anyone is actually doing this.   I'll ask my guy too about it.   Thanks for the info, it seems too good to be true to me.  

 

[DrJack54]

35 minutes ago, wealthychef said:

 

I don't spend that much money as I am gone from Thailand at least 6 months per year.  

This thread is pretty much 5 pages of helpful folk making suggestions and you pointing out why they are not 100% perfect for you.

The majority pointing out remain on extensions to the non o.

Easy as your already doing that. 

Just one small example...you state that your only Thailand 6 months and don't wish to maintain 12 months of transfers.

Do I wish to keep 800+ in Thai bank at 1.55%? Of course not. However I do, minor problem.

Your making a problem over small crumbs. Especially when you implied in OP money not problem.

Buy an elite visa if that's the case.

 

[Peter Denis]

15 hours ago, wealthychef said:

 

This seems like such an incredibly easy workaround, can anyone else here confirm this procedure?   I'd especially like to know if anyone is actually doing this.   I'll ask my guy too about it.   Thanks for the info, it seems too good to be true to me.  

 

Should be no problem to transfer money from your thai bank-account abroad when on a Non Imm O type Visa.

Max amount is 50.000 US $ per transaction.

You can check out the thread below for various tips > 

When doing it from your thai bank proves difficult (some bank branches are notoriously difficult to get anything done), you can use DEE money transfer-service.  

[wealthychef]

On 2/18/2020 at 5:36 PM, DrJack54 said:

This thread is pretty much 5 pages of helpful folk making suggestions and you pointing out why they are not 100% perfect for you.

.... 

Your making a problem over small crumbs. ... 

 

 

I'm just expressing my opinion on a thread I started.  You don't have to like it and you don't have to agree with my priorities or comments.  Your personal opinion about whether I'm being a good boy in my responses does nothing to forward the discussion.   Let's just keep it on the subject and off of personal comments about me.  Can we agree about that please?  Every time I have commented I have thanked people for their contribution, and will continue to do so.  In your case, it's hard for me to see how you are being helpful.  

[DrJack54]

13 minutes ago, wealthychef said:

 

I'm just expressing my opinion on a thread I started.  You don't have to like it and you don't have to agree with my priorities or comments.  Your personal opinion about whether I'm being a good boy in my responses does nothing to forward the discussion.   Let's just keep it on the subject and off of personal comments about me.  Can we agree about that please?  Every time I have commented I have thanked people for their contribution, and will continue to do so.  In your case, it's hard for me to see how you are being helpful.  

The options could be summarised in couple of sentences. There ain't that many.

1. O-A with ongoing extensions.

2. non O with ongoing extensions. 

3. Elite Visa.

1&2 had same extension requirements except that O-A path requires useless Thai prescribed insurance.

Both have clear cut requirements. Regarding money in bank and/or income.

The only way to avoid money in Thai bank and/or income method would be to obtain a new O-A every 2 years. That previously being fantastic for folk that return every couple of years for other reasons. It is not a good choice now. Gone for A+ rating to imho useless. 

Think that has been pointed out universally.

Pick your option. Not hard.

Edited February 20, 2020 by DrJack54

[beddhist]

Can he not get either a new non-o or non-oa in the US, when the old one has expired? Why do you say that it is useless now?

Edited February 20, 2020 by beddhist

[DrJack54]

8 minutes ago, beddhist said:

Can he not get either a new non-o or non-oa in the US, when the old one has expired? Why do you say that it is useless now?

It's useless because previously people obtaining non O-A did not require insurance. If they want to have insurance they could obtain very good and appropriate coverage to their personal needs. Now with an O-A that's difficult and they are forced into a rubbish Thai insurance that frankly may of been written on toilet paper. 

Non O-A is dead man walking visa. Useless.

[wealthychef]

On 2/19/2020 at 9:12 AM, Peter Denis said:

Should be no problem to transfer money from your thai bank-account abroad when on a Non Imm O type Visa.

Max amount is 50.000 US $ per transaction.

You can check out the thread below for various tips > 

When doing it from your thai bank proves difficult (some bank branches are notoriously difficult to get anything done), you can use DEE money transfer-service.  

 

Yes, Bangkok Bank told me they cannot allow international transfers out of Thailand from my account because I have a retirement "O" visa.  They told me this is a government rule, not a bank policy.  

I will look into DEE, at first glance it looks like a wonderful solution. 

Thanks. 

[ubonjoe]

44 minutes ago, wealthychef said:

Yes, Bangkok Bank told me they cannot allow international transfers out of Thailand from my account because I have a retirement "O" visa.  They told me this is a government rule, not a bank policy.  

That is false info. See: https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Out-of-Thailand

You do have to complete a form. https://www.bangkokbank.com/-/media/files/personal/other-services/transfers/outwardremittance_app_feb2019.pdf?la=en&hash=876272C518D06C925D4B7E1E322B3FB9B8626971

 

44 minutes ago, wealthychef said:

I will look into DEE, at first glance it looks like a wonderful solution. 

Another option is to register for online transfers via Western Union.  https://central.th.wu.com/send_money

For sending the equivalent of $2000 the fee is only about 116 baht.

After completing the registration online you will have to go to Central, Robinsons or a Big C to verify your identity. You will get a popup message telling you where to go.

Be sure and complete all of ones that says optional unless they have changed it. For example I left the issue date for my passport blank but when I went to confirm it they wanted it completed. 

 

[jacko45k]

On 2/21/2020 at 9:48 AM, wealthychef said:

Yes, Bangkok Bank told me they cannot allow international transfers out of Thailand from my account

When a Thai tells you such it does not mean that is fact ... just he isn't prepared to do it, or doesn't know the facts but can tell you something to make the problem go away. Kinda sad isn't it!