New rules for retirement visa

[Giggle]

I know MANY people here who have know where near that income

And nearly all of them are fat, bald, sour-smelling loud, obnoxious, gobshites sporting threadbare EPL jerseys, in dire need of dental care, with an IQ smaller than their shoe size.

[glalt]

I too think that if you can't meet these financial requirements that you cannot afford to live here. Living on a tight budget is not my idea of a pleasant retirement. You certainly don't need to be wealthy.

Do you really think you need 800,000 baht to live in Thailand ?.
I know MANY people here who have know where near that income , and live a perfectly happy life. Even guys who eat western food everyday and drink often.
Of course the requirements are just that, requirements for the extension , not requirements for a happy life.
IMO not much will change other than the price of the bribe at immigration to ignore the financial requirements.

If you ever have a major medical emergency or some other costly problem, how would you pay for it? Living without a nest egg would be a big worry to me. Unexpected problems do happen.

[skinner]

I too think that if you can't meet these financial requirements that you cannot afford to live here. Living on a tight budget is not my idea of a pleasant retirement. You certainly don't need to be wealthy.

Agree. A tight budget here means near impossible anywhere in the Western World.

Best scenario is just put 800,000 in the bank, leave it there and sleep well.

800,000 baht a year . Near impossible anywhere in the western world ? 20,000 pounds for a retired man ?
You live on another planet.
Ask an old bloke in Europe if 400 quid a week is enough to live on

[skinner]

I too think that if you can't meet these financial requirements that you cannot afford to live here. Living on a tight budget is not my idea of a pleasant retirement. You certainly don't need to be wealthy.

Do you really think you need 800,000 baht to live in Thailand ?.
I know MANY people here who have know where near that income , and live a perfectly happy life. Even guys who eat western food everyday and drink often.
Of course the requirements are just that, requirements for the extension , not requirements for a happy life.
IMO not much will change other than the price of the bribe at immigration to ignore the financial requirements.

If you ever have a major medical emergency or some other costly problem, how would you pay for it? Living without a nest egg would be a big worry to me. Unexpected problems do happen.

If you worry you should have insurance. Having a nest egg is a good thing , but does it need to be tied up in a Thai bank account ?
Personally i think 800,000 for a single man is way over the top .A man with a family is required to have 400,000 . Where is the logic when the family man has more responsibilities?

[glalt]

I too think that if you can't meet these financial requirements that you cannot afford to live here. Living on a tight budget is not my idea of a pleasant retirement. You certainly don't need to be wealthy.

Agree. A tight budget here means near impossible anywhere in the Western World.

Best scenario is just put 800,000 in the bank, leave it there and sleep well.

800,000 baht a year . Near impossible anywhere in the western world ? 20,000 pounds for a retired man ?
You live on another planet.
Ask an old bloke in Europe if 400 quid a week is enough to live on

I find it unusual that a man works all his life and has no savings? Hope for the best but plan for the worst. If you have no savings, you shouldn't be considering retiring and living in a foreign country. No way do I spend 800,000 baht a year but I do have the necessary nest egg.

[skinner]

What if they have been here many years , and are now retired ? No family or home to go to other than Thailand .
I personally know a few old guys in BKK in this situation. Where should they go ? They live comfortably here with far less than 800,00 baht

[AlexO]

I find it unusual that a man works all his life and has no savings?
Try getting married a couple of times to a western wife a you will find it's not that unusual.

[minimiglia]

Why???????? 800000 3 month before renewal and 3 months after and 400000 for the next 6 months, simple???

Not quite the new rules are 800,000 2 month before renewal and 3 months after and 400000 for the next 7 months.

Though working on the 3+3+6 is certainly safe

2 months is only for your first extention as always was, 3 months before for you second time.

[minimiglia]

The sums required have been the rules for at least a decade, so I fail to see what all the fuss is about, if you haven't got it or the income, sorry but you cannot retire here, I think they are also trying to stop all the agents who try and circumvent the rules for a good bribe, and the useless embassy.s who couldn't be bothered to verify the stated incomes.

[Lone Star]

The sums required have been the rules for at least a decade, so I fail to see what all the fuss is about, if you haven't got it or the income, sorry but you cannot retire here, I think they are also trying to stop all the agents who try and circumvent the rules for a good bribe, and the useless embassy.s who couldn't be bothered to verify the stated incomes.

Yes, the amounts are the same.

The embassies that made arrangements for their citizens did so with full authority of Thai Immigration.

Had there not been so many different issues (various and sundry) with expats of a civil and criminal nature, I doubt that there would be any change. The fuss is what will eventually be acceptable, but even that requires little bother since MANY have pointed out (including myself) that the IO has the final say on what they want to see anyway.

I am thankful that I have choices. Unfortunately, some good and decent guys do not and will struggle.

[sometimewoodworker]

Why???????? 800000 3 month before renewal and 3 months after and 400000 for the next 6 months, simple???

Not quite the new rules are 800,000 2 month before renewal and 3 months after and 400000 for the next 7 months.

Though working on the 3+3+6 is certainly safe

2 months is only for your first extention as always was, 3 months before for you second time.

The amendment to the regulations in January makes no distinction between the first and subsequent extensions of stay (previous rules did make this distinction) while it is clear on the on the all the points, which are major changes for some people, so while Udon immigration may decide to apply part of the old rules it simplifies their job to apply the same pre-application seasoning time to both retirement and wife extensions

Only time will tell if Udon is going to follow the rules or add extras to them

Phuket IO has already said that they are going to follow the 2+3+7 rules. This an IO renowned for being difficult. So it is quite likely that Udon is going to follow suit. https://www.thephuketnews.com/holding-t ... 2k1xyMX.97

[Bandung_Dero]

I have it from a very reliable, long term customer (just renewed) of "Ms Dodgy Visa - Udon" that these changes will not effect her business. IF true:- IMHO she is about to be inundated and along with her connections in banking and Immigration are going to be very busy.
Many retirees here live quite well, as things are, and contribute to the economy of the local community BUT just cannot cope with these changes and will be forced to look at alternatives.

[vidmaster]

Does that mean IO will accept UK financial statements etc as the UK Embassy in BKK used to proving £ equivalent to at least 65k per month?
Or do we still have to show at least 65k baht actually deposited each month in a Thai bank account?

[minimiglia]

must be deposited in thai bank account every month

[glalt]

I wouldn't like depositing 65,000 baht a month in my Thai bank. Besides that, it would be more difficult for most expats than simply having the 800,000 baht in the bank. Why don't I like the 65,000 baht per month? That's because I don't spend that much per month. If someone has that much income, maybe it would be better to borrow the 800,000.

[skinner]

Heard from a friend yesterday that his neighbour is now spending 30 days in , and 30 days out. Apparently not because hes poor, but he doesnt want to tie up his capital. They live close to Don meuang so pretty simple to do , and perfectly legal.

[Giggle]

Worst case scenario it's only 800,000 baht, which can earn interest at about two percent.
If your investment portfolio can't support such a paltry hardship, perhaps better to stay home.

Are so many farang living that close to the edge?

[Jing Jing]

฿65,000 for a retired person seems like a lot considering those with a B Visa and working as a teacher make about half that amount.

I think it is financially foolish to have ฿800,000 stuck in one bank account. If married you may want to have money in the Thai Farmers or Government House Bank. Also if you placed money in a Thai life insurance plan and it has a cash surrender or loan value. Shouldn’t that count? I know the IO wants a one size fits all rule but it often doesn’t work.

What concerns me is the interpretation of the rules changing and it is hard to guess what you need when it’s time to renew.

[BillaRickaDickay]

£20,000 in a thai bank, then you die, good idea? Could you be sure the cash goes to your chosen beneficiary? I can just see the probs that would cause the executors trying to sort out probate on that.

[Lone Star]

...

What concerns me is the interpretation of the rules changing and it is hard to guess what you need when it’s time to renew.

Which is why I make my final and hard-and-fast inquiries with IOs who I've worked with before and make my own deals face-to-face.

The information on here is generally good -- excellent from some folks like sometimewoodworker -- but it's always best to "know your IO." I think even stww would attest to that.