Visa With 800,000 Baht

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Re: Visa With 800,000 Baht

Post by Gaybutton »

Dodger wrote: Wed Feb 26, 2020 1:49 pm I just don't want to do any more business with them then I have to.
Ok, I'll bite . . . Why?
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Re: Visa With 800,000 Baht

Post by Dodger »

Gaybutton wrote: Wed Feb 26, 2020 3:30 pm
Dodger wrote: Wed Feb 26, 2020 1:49 pm I just don't want to do any more business with them then I have to.
Ok, I'll bite . . . Why?
The main reason is because I was forced to use them.

The other reason is that Kasikorn frequently offers a better exchange rate. For example, the exchange rate at Kasikorn today is 31.64 to our dollar. The exchange rate today at Bangkok Bank is 31.45 to our dollar. These are "Bank Buying Rates".

Another reason is that I've been with Kasikorn for +15 years now and I've always been happy with their service.
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Re: Visa With 800,000 Baht

Post by Undaunted »

This information has been verified this morning Mar.3 at Jomtien immigration.

For those using the 800,000 baht option for a 1 year visa....The 800,000 must be on deposit a minimum of 2 months before applying or renewing the 1 year visa. The 800,000 must stay untouched for 3 months after receiving the 1 year visa after which it can be used, but must be replenished to 800,000 2 months prior to your next renewal.
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Re: Visa With 800,000 Baht

Post by Gaybutton »

Undaunted wrote: Tue Mar 03, 2020 9:41 am This information has been verified this morning Mar.3 at Jomtien immigration.
Thank you.

Has anyone asked immigration what to do if you had been using the 800,000 baht method, but now want to switch to the 65,000 baht per month method, what the procedure is for doing that?

If you want to do that, when can you use as much of the 800,000 baht as you want? Do you still have to wait 3 months before touching it? Does 800,000 still have to be replenished 2 months before applying for the next renewal?
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Re: Visa With 800,000 Baht

Post by Dodger »

Gaybutton wrote: Tue Mar 03, 2020 10:02 am Has anyone asked immigration what to do if you had been using the 800,000 baht method, but now want to switch to the 65,000 baht per month method, what the procedure is for doing that?
Yes, I asked this question back in September, 2019, and was told that you can only switch when you do your annual renewal.

Gaybutton wrote: Tue Mar 03, 2020 10:02 am If you want to do that, when can you use as much of the 800,000 baht as you want? Do you still have to wait 3 months before touching it? Does 800,000 still have to be replenished 2 months before applying for the next renewal?
According to the rules, you have to maintain full compliance with the 800k method for the one year term of extension you have been granted. You can switch after that, but must follow the 800k rules until the extension using the 800k method expires and you apply for your next extension using the 65k method.

I imagine those using the 800k method who could not, for whatever reason, maintain the funds in their bank account as required, would probably be hit with a fine. How much? who knows.
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Re: Visa With 800,000 Baht

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Dodger wrote: Tue Mar 03, 2020 11:09 am I imagine those using the 800k method who could not, for whatever reason, maintain the funds in their bank account as required, would probably be hit with a fine. How much? who knows.
Thank your for answering my questions.

I'm wondering whether it would be a fine or refusal to grant a renewal. I imagine it would depend on how much the person was unable to maintain, along with the whim of the immigration officer.

One thought - if a person, for whatever reason, was unable to maintain the required amounts in a Thai bank account and if we're talking about a substantial amount, when he walks into immigration to renew his retirement visa - if it's a fine, it's probably a heavy fine. Under that circumstance where is he supposed to get the money to pay the fine? That's why I'm thinking he's more likely to be refused the renewal rather than fined. Whichever it is, I don't want to find out the answer to that one the hard way.

Please note - I am only speculating and guessing. I have no facts to back up my thoughts about this.

One thing that is a fact - Until and unless immigration gets specific about what they will accept as proof of 65,000 baht per month, and until and unless there is an ironclad guarantee that use of that method will remain in place ad infinitum, I'm going to stick with the 800,000 baht method. I'm afraid to touch it.

Thanks a lot immigration. That's over US $25,000 that I have, but can't spend.
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Re: Visa With 800,000 Baht

Post by Dodger »

After all the confusion and fury filling the air in 2019, the end result is that there really wasn't that much that changed.

The 65k minimum income requirement has been in place for many years. The only real change is that now you have to provide documentation of this income yourself - versus - using an embassy affidavit for this purpose (which saves a trip to the embassy), and have at least 65k deposited in a Thai account every month as proof that you are actually receiving this minimum amount. This made it simple and more reliable for Immigration, and really shouldn't have been that much of a hassle for most retired expats to comply with.

Those who were unable to actually prove that had a regular monthly income of +65k, actually got a break. If Immigration would not have created this new 800k method, there probably would have been a lot of retired expats packing their bags. The disadvantages of the 800k method are clear, many being emphasized in the discussion we're having now, but for those, who for whatever reason, could not provide the documentation supporting their income, or, for whatever reason, could not have regular monthly deposits processed in a Thai bank, it's better than a stick in the eye.

I'm thoroughly convinced that Immigration is also aware of the disadvantages of the 800k method, but has taken the position of just waiting to see how a farang can maintain this amount of money in a "locked account" without having to use it for some sort of emergency or other major concern. Those who are wealthy will of course never have a concern with this. Those who are not wealthy may not be able to hold that much money in the bank without having to spend it over time, and those are the ones who Thailand are trying to filter out IMO. If they don't have +65k income, or financially stable enough to maintain 800k according to the rules, then they are viewed as not being able to provide a positive contribution to Thailand's economy. It's hard to argue with that logic.

In short: The 800k method was simply an option, intended for people who either, can't comply with the 65k requirements, or, for whatever reason, chose not to use it.
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Re: Visa With 800,000 Baht

Post by Undaunted »

I can’t speak for anyone else but I did the 800,000 because I already had money in the bank from the sale of my condo however, now I am thinking of using my monthly income so I can free up the 800,000.
The question arises now how to see seamlessly transition from the money in the bank to the monthly income method.
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Re: Visa With 800,000 Baht

Post by Gaybutton »

Dodger wrote: Tue Mar 03, 2020 3:40 pm After all the confusion and fury filling the air in 2019, the end result is that there really wasn't that much that changed.
I agree with your post and what you're saying makes sense. However, don't forget that when the embassies first began to refuse to issue the income affidavits, for a while Pattaya immigration, along with some other immigration offices, were saying law or not, it's 800,000 baht or nothing and they were not going to accept any kind of 65,000 baht per month proof.

That's what has me afraid to touch the 800,000 baht.

Despite the law, if at some point immigration comes up with some sort of similar policy, what can we do about it? I believe they won't do something like that again, but that's not good enough for me. I'd like to go ahead and switch over to the 65,000 baht per month method, but immigration accepting the 65,000 baht per month method without problems would have to be in place for a minimum of 3 years before I'll have enough confidence to try it and dip into my 800,000 baht.
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Re: Visa With 800,000 Baht

Post by Dodger »

Undaunted wrote: Tue Mar 03, 2020 5:20 pm I can’t speak for anyone else but I did the 800,000 because I already had money in the bank from the sale of my condo however, now I am thinking of using my monthly income so I can free up the 800,000.
The question arises now how to see seamlessly transition from the money in the bank to the monthly income method.
It's my understanding that the only way you can do this is "Seamlessly". Meaning, you apply for your next extension using the 65k method. Simple as that.

If by chance your wondering if Immigration would approve a lump sum that you have in the bank as contributing towards your monthly income, the answer is NO. One of the requirements of the 65k method is that you show them a Bank Letter which lists each individual monthly foreign deposit. They won't look at lump sums stored in any bank account...just monthly deposits of 65,000 THB or more deposited in a Thai bank.
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