Retirement visa news - and it's not good

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

Post by Gaybutton »

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

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

Post by fountainhall »

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

Post by atri1666 »

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

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

Post by fountainhall »

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

Post by Gaybutton »

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

Post by atri1666 »

I will do when I can prove it here in Germany with account. 140000 baht is the line I must stop.
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Re: Retirement visa news - and it's not good

Post by Gaybutton »

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

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

Post by jason105 »

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

Post by Gaybutton »

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

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

Post by traveller123 »

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?
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