Retirement visa news - and it's not good

Anything and everything about Thailand
User avatar
Gaybutton
Site Admin
Posts: 14989
Joined: Sat Jul 31, 2010 11:21 am
Location: Thailand
Liked: 1 time
Been liked: 581 times

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

Postby Gaybutton » Sat Nov 17, 2018 8:47 pm

fountainhall wrote:I keep a minimum of Bt. 800,000 in my regular savings account for the required 90 days. After renewing my visa, I use the account for the next 9 months, topping it up a few weeks before the minimum time before renewal.

That brings up yet another point. Some of us keep several Thai bank accounts. My interpretation of the way immigration wants it is the 800,000 has to be in one account rather than spread over several accounts.

fountainhall
Posts: 1643
Joined: Fri Jan 27, 2017 11:45 am
Location: Bangkok
Liked: 138 times
Been liked: 411 times

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

Postby fountainhall » Sat Nov 17, 2018 9:53 pm

That's also my assumption. If I have to top up during the 90 day period, it's done several days before I expect the main savings account to dip below 800.000.

atri1666
Posts: 458
Joined: Sat Jul 31, 2010 6:18 pm
Location: LOS-SIN-KUL-Berlin
Liked: 10 times
Been liked: 1 time

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

Postby atri1666 » Mon Nov 19, 2018 1:00 pm

My Point is>> when they no more accept the 65000 baht/month I never will retire in LOS.

fountainhall
Posts: 1643
Joined: Fri Jan 27, 2017 11:45 am
Location: Bangkok
Liked: 138 times
Been liked: 411 times

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

Postby fountainhall » Mon Nov 19, 2018 2:42 pm

atri1666 wrote:My Point is>> when they no more accept the 65000 baht/month i never will retire in LOS.

I'm sure a lot of people will feel the same. I know this question has been asked before, but I wonder where you might consider retiring? Will you still consider other parts of South East Asia?

User avatar
Gaybutton
Site Admin
Posts: 14989
Joined: Sat Jul 31, 2010 11:21 am
Location: Thailand
Liked: 1 time
Been liked: 581 times

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

Postby Gaybutton » Mon Nov 19, 2018 5:45 pm

atri1666 wrote:when they no more accept the 65000 baht/month I never will retire in LOS.

How about if they decide to accept proof of monthly income, but raise the amount from 65,000 baht per month to, say, 100,000 baht per month or something like that?

Personally, I wouldn't object as long as they do something so that we don't have to go the 800,000 baht route.

atri1666
Posts: 458
Joined: Sat Jul 31, 2010 6:18 pm
Location: LOS-SIN-KUL-Berlin
Liked: 10 times
Been liked: 1 time

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

Postby atri1666 » Mon Nov 19, 2018 7:31 pm

I will do when I can prove it here in Germany with account. 140000 baht is the line I must stop.

User avatar
Gaybutton
Site Admin
Posts: 14989
Joined: Sat Jul 31, 2010 11:21 am
Location: Thailand
Liked: 1 time
Been liked: 581 times

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

Postby Gaybutton » Mon Nov 19, 2018 7:53 pm

Many cannot go the 800,000 baht route. Some are hoping things will change for the better before their visas expire. Some have accepted that without the embassy letters, their days in Thailand are numbered. Some are scrambling to try to find a way to somehow come up with the 800,000 baht. Some are clinging to hopes and rumors.

No matter how you look at it - no matter what you believe - no matter what you think will or will not happen - no matter who told you what - even for those who have the 800,000 baht, those of us wishing to retire in Thailand or are already retired in Thailand and wish to stay now find themselves in a precarious situation fraught with uncertainty because to date immigration has provided no official, published word about any of this and nearly anyone you speak to, Thai immigration officials or farang, or any posts you see on any web sites, everybody seems to have a different story.

Other than those who will have the 800,000 baht in a Thai bank account for three months prior to the expiration date of their retirement visa, there is no way at this point to know what is going to happen and what will happen to people who have made their lives in Thailand, fully expecting to be able to live out their lives in Thailand, but now very well might be forced to leave with no place to go.

jason105
Posts: 158
Joined: Sat Jul 31, 2010 11:45 pm
Liked: 123 times
Been liked: 3 times

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

Postby jason105 » Mon Nov 19, 2018 9:28 pm

This is quite discouraging. I have no problem with the 65,000 Baht/month requirement. It seems reasonable to assure that expats have a reasonable income so that they can take care of themselves and not need support from the Thai government agencies.
The 800,000 Baht on deposit for 3 months is an effective "deal-breaker" for me, unfortunately.
I could, more than likely, make arrangements to have the money in an account in my name but it would tie up funds that could be earning interest elsewhere.
I will be watching to see if there is some accommodation made to allow for a monthly income requirement in the future.
I hope so.
Also, hope those who are currently in a bind will find some way to navigate this change without having to abandon LOS.
All the best

User avatar
Gaybutton
Site Admin
Posts: 14989
Joined: Sat Jul 31, 2010 11:21 am
Location: Thailand
Liked: 1 time
Been liked: 581 times

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

Postby Gaybutton » Mon Nov 19, 2018 10:04 pm

jason105 wrote:The 800,000 Baht on deposit for 3 months is an effective "deal-breaker" for me, unfortunately.

Don't give up hope just yet. At the time of this post there are still nearly 6 weeks until January 1. Maybe Thailand will come up with something by then, before any retirees are forced out or potential retirees are forced to change their plans.

If Thailand does make that accommodation, it would certainly be helpful to that "good image" they always seem to worry about. Creating a situation that pulls the rug out from under people who have been living in Thailand in full compliance with the rules would only hurt that "good image."

traveller123
Posts: 20
Joined: Wed Aug 15, 2018 7:08 pm
Liked: 19 times
Been liked: 1 time

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

Postby traveller123 » Tue Nov 20, 2018 10:36 am

Something I have not seen mentioned in the discussion is that I believe it is possible to have a lower sum than 800,000 baht tied up in a savings account coupled with a percentage of 65,000 baht monthly income.
Has anyone ever tried to do this?


Return to “Thailand”

Who is online

Users browsing this forum: Baidu [Spider], traveller123 and 95 guests