Retirement visa news - and it's not good

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Gaybutton
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#11 Re: Retirement visa news - and it's not good

Postby Gaybutton » Thu Nov 15, 2018 5:24 pm

Up2u wrote:Do you use the income affidavit? If so, keep us posted.

Since you included me in your quote, my answer is I've always used the income affidavit, but my retirement visa expires months from now, so if nothing changes I'll have to, albeit reluctantly, use the 800,000 baht. I don't like having to tie up that amount of money and apparently will have to keep it tied up from now on, but there doesn't seem to be any choice if I want to remain in Thailand.

The two main aspects of this whole mess that are now on my "I Don't Get It" list are:

1. Why, even for those of us who can legitimately prove it, won't they let us use the 65,000 baht per month option anymore?

2. Why is immigration apparently making no effort of any kind to officially, or even unofficially, inform those of us holding the retirement visa about these changes? After all, we all report our addresses to immigration every 90 days, so obviously they have our contact information readily available. If it wasn't for the boards, many of us wouldn't know a thing about it.

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#12 Re: Retirement visa news - and it's not good

Postby thewayhelooks » Fri Nov 16, 2018 5:52 am

If various immigration officers don't know, if the website hasn't been updated, if confusions reigns, if the left hand doesn't know what the right hand is doing.......SNAFU. Maybe they are relying on the various embassies to tell us. We'll probably never know.

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#13 Re: Retirement visa news - and it's not good

Postby Gaybutton » Fri Nov 16, 2018 8:08 am

thewayhelooks wrote:We'll probably never know.

Unfortunately there is bound to be a number of farang who are going to find out the hard way.

I hope they will go back to letting us prove the 65,000 baht per month minimum or even raise the minimum if need be, but as far as I know it would take the head of Thailand's immigration to order it, or an unlikely lawsuit win, or even legislation for that to happen. I don't see any light at the end of that tunnel, especially since immigration is in a crackdown mode.

I suppose the best we can hope for right now is they at least leave the 800,000 baht requirement alone and don't decide to raise it.

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#14 Re: Retirement visa news - and it's not good

Postby atri1666 » Fri Nov 16, 2018 12:39 pm

If you have 10 Million Baht take the 10 years O-X-visa......
Money must stay one year on Thai account.

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#15 Re: Retirement visa news - and it's not good

Postby Gaybutton » Fri Nov 16, 2018 1:39 pm

atri1666 wrote:If you have 10 Million Baht take the 10 years O-X-visa

Yes, next time I have a spare US $305,000 sitting around that's just what I was planning to do with it . . .

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#16 Re: Retirement visa news - and it's not good

Postby atri1666 » Fri Nov 16, 2018 3:37 pm

Smile....

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#17 Re: Retirement visa news - and it's not good

Postby windwalker » Fri Nov 16, 2018 4:18 pm

Gaybutton wrote:
atri1666 wrote:If you have 10 Million Baht take the 10 years O-X-visa

Yes, next time I have a spare US $305,000 sitting around that's just what I was planning to do with it . . .

Me too.

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#18 Re: Retirement visa news - and it's not good

Postby Jun » Fri Nov 16, 2018 6:25 pm

Whilst not affecting me at present, if & when the time comes, I also wouldn't like having 800,000 baht sat in an investment with low performance, although 400,000 is perhaps a sensible cash buffer.

As it stands, for anyone who wants to remain in Thailand, the logical approach must be to take all possible steps to find the 800,000 baht and put it in a Thai bank account. Even if that needs some creative financing (borrow against an overseas property or something).

Also, by my logic (which may be flawed):
1 If anyone was earning just over 65,000 baht a month in a foreign currency, you would be at huge risk of this ending up as less than 65k a month due to forex fluctuations. So I wouldn't have considered that as a robust situation even before the rule changes.

2 If anyone earns a lot more than 65,000 baht a month, I would think some belt tightening would allow you to build up 800,000 baht. Perhaps a few visa runs might be needed until you get there.

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#19 Re: Retirement visa news - and it's not good

Postby atri1666 » Fri Nov 16, 2018 7:12 pm

For me it means I never will stay longer than 90 days in LOS. For the visa with 90 days I must prove 5000€ in a German bank account. I never would open an account in LOS. 65000baht/month really would not be a problem now or when I will be retired.

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#20 Re: Retirement visa news - and it's not good

Postby Undaunted » Fri Nov 16, 2018 7:22 pm

atri1666 wrote:For me it means I never will stay longer than 90 days in LOS. For the visa with 90 days I must prove 5000€ in a German bank account. I never would open an account in LOS. 65000baht/month really would not be a problem now or when I will be retired.

What's your point :?:
"In the land of the blind the one eyed man is king"


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