New Immigration Requirement

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Gaybutton
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Re: New Immigration Requirement

Post by Gaybutton »

fountainhall wrote:
Thu Apr 04, 2019 7:26 pm
Yet those taking the annual route must keep minimum balances of Bt. 800,000 or Bt. 400,000. The announcer tells us this ensures we have enough to pay for emergencies. Really? How come? For if we dip below the minima in the account, perhaps because we need major surgery and require funds to pay a high deductible or a co-insurance, I'll bet we end up having problems with the Immigration officers at the next renewal.
That's the point I. It's a "Catch 22."

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Re: New Immigration Requirement

Post by Dodger »

fountainhall wrote:
Thu Apr 04, 2019 7:26 pm
The two methods actively and seriously penalise those who prefer to take the 800,000 route or for whatever reason find it difficult to go the monthly route.
I really believe they would prefer having all farang (with one year visa's) having a verifiable income of +65,000 THB/month as well as a health insurance policy. This would certainly lower the risk of farang becoming a burden in the event of a major medical concern, and how much money the farang had in his bank account at any given time would be inconsequential.

For whatever reason they seem reluctant to make health insurance a requirement for retirement in Thailand, thus the 800,000 THB scheme comes into play. We all know that 800,000 THB (or 400,000 THB) could vanish in a heartbeat (no pun intended) if a farang was being treated at a private hospital, but 800,000 THB (or 400,000 THB) would cover most emergencies in a State hospital. You'll probably die on the operating table, but what the hell, your bill is paid... :lol:

As a side-note: The State hospitals in Thailand started insisting on full payment up-front from farang in 2016 due to the escalation in farangs "forgetting" to pay on the way out.

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Re: New Immigration Requirement

Post by Undaunted »

Dodger wrote: I really believe they would prefer having all farang (with one year visa's) having a verifiable income of +65,000 THB/month
I really believe they would prefer having no farang retire in Thailand. It will be interesting to see the affect the new regulations have on those that have begun contemplating retirement in Thailand and how this will impact the huge amount of new and unsold properties in the Kingdom.
"In the land of the blind the one eyed man is king"

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Re: New Immigration Requirement

Post by Dodger »

Undaunted wrote:
Fri Apr 05, 2019 5:40 pm
I really believe they would prefer having no farang retire in Thailand. It will be interesting to see the affect the new regulations have on those that have begun contemplating retirement in Thailand and how this will impact the huge amount of new and unsold properties in the Kingdom.
Trying to unravel the true motives behind these regulations is like playing with a Rubik Cube.

I tend to believe they still welcome farang retiree's as long as they're not gypsies, tramps and thieves. If a farang doesn't have enough money to support himself (either income or stashed in the bank) and make a positive contribution to the economy then they don't want them here. That's the bottom line.

A percentage of those new and unsold properties you mentioned are intended to be sold or rented to foreign retirees, not just holiday goers. I imagine they already know that a farang who can't meet the minimum income requirements in order to qualify for a retirement visa isn't going to affect property sales at all.

They welcome the investors - but don't think for a minute that Thailand is fooled at the prospect that all farang are helping the prosperity of the Kingdom.

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Re: New Immigration Requirement

Post by Gaybutton »

Dodger wrote:
Sat Apr 06, 2019 8:15 am
Trying to unravel the true motives behind these regulations
We all have our opinions as to the motivations behind the regulations. Mine is simple. If you can prove you have the financial means to support yourself and will not become a burden for Thailand, then welcome to Thailand. If not, then do the letters F O mean anything to you . . . ?

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Re: New Immigration Requirement

Post by Dodger »

Gaybutton wrote:
Sat Apr 06, 2019 8:27 am
If you can prove you have the financial means to support yourself and will not become a burden for Thailand, then welcome to Thailand. If not, then do the letters F O mean anything to you . . . ?
That's it in a nut shell.

What pisses me off is the fact that they decided to freeze a farang's account money for specified periods of time for those using the 800k method versus closing down those crooked Visa Services and their corrupt counterparts in the Immigration offices which is at the root of the problem. Why they just didn't just stick with the +65k/month method and add on a requirement for mandatory health insurance is beyond baffling.

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Re: New Immigration Requirement

Post by Undaunted »

The new requirements are only one reason that new retirees might think twice about Thailand however, the biggest reservations will be the strength of the baht and the weakness of other foreign currencies, hence who will buy all these properties other than for investment and what new changes might the present government impose? My advice for wannabe Thai expats is only RENT do not Buy!!!!
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Re: New Immigration Requirement

Post by Gaybutton »

Dodger wrote:
Sat Apr 06, 2019 8:52 am
What pisses me off is the fact that they decided to freeze a farang's account money for specified periods of time for those using the 800k method
That's the "Catch 22." With that method you can prove you have the means to support yourself, even through most typical emergencies. You'll get the visa.

But if you actually have to spend that money - the money that's in your account so that you won't be a burden to Thailand - to deal with an emergency or some other unforeseen situation, now you'll either lose the visa or render yourself ineligible for the next one - despite the fact that you used the money for the very purpose for which immigration intended.

Immigration does not sympathize with "Shit Happens" if some sort of 'no choice' situation arises.

If that makes sense to anyone, let me know. I have been unable to make sense of it at all.

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Re: New Immigration Requirement

Post by Dodger »

Catch 22 for sure for those who just maintain the minimum balance of 800k without having any other money in reserve to use for medical or any other emergency. Without a means of replenishing their account they're up Shit's Creek. It doesn't make sense to me either.

I was a bit surprised to learn just how many retirees buy properties solely for investment purposes versus long term residences for themselves. I agree with Undaunted that under the current climate renting would certainly be lower risk from an investment point-of-view, although I've met a few retirees (like myself) who purchased condos simply to have a home during their retirement years with no interest whatsoever in selling it to anyone simply to make a profit.

As a side-note: Seeing the Thai Baht strengthen significantly over the next 5 years seems highly unlikely. If the exchange rates suck it's probably because someone's dollar has weakened, not because the baht has grown stronger. Foreign investors are still fearful and investments in Thailand will continue on a downward slope..tourism will decline regardless of the numbers TAT shows us...and the amount of money Thailand needs to repair its existing infrastructure and stop flagship cities like Pattaya, Phuket and Chiang Mai from imploding is more money than they have...or at least what's accountable.

Always the optimist, I see a rosy future ahead for expat retirees as long as they meet the minimum requirements for maintaining their visa. The sun will always be shining... you can still get an order of Pad Thai for 80 baht...and the price of a short hasn't gone up in the last 20 years. What's there to complain about!

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Re: New Immigration Requirement

Post by Bangkokian »

Who is to know what changes there will be now if the rumours about Big Joke being removed are true.

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