"Retirement" visa

Any expat related issue or comment.

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Re: "Retirement" visa

Postby Roger Ramjet » Mon Mar 17, 2014 2:48 pm

pipoz wrote:I myself went an opened a Bank Account in Thailand (with a certain Bank) last year. I just walked into the bank with my TG, just showed the Bank Manager my Passport and Overseas Residency Visa and 5000 US (I did not offer any proof of address in Thailand, or any proof of utility bills and and did not have any Thai type visa).

You can open 200 bank accounts as long as you have a passport with a valid visa. The address is for contact purposes only (mail, phone number, etc). You do not need a letter from Thai Immigration and you don't need a yellow book.
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Re: "Retirement" visa

Postby fredlk » Mon Mar 17, 2014 4:11 pm

MGV12 wrote: ... many pay 20-30K and higher in rent

You have obviously never rented in (central) Bangkok.
In 1999 I paid 22,000 for a studio apartment. It was the cheapest I could find.
The last place I rented in 2008 was 50,000 Baht per month after I managed to get the landlady down from 60,000.
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Re: "Retirement" visa

Postby MGV12 » Mon Mar 17, 2014 4:17 pm

sirineou wrote:
MGV12 wrote:
sirineou wrote:geniuses like MGV can do it, then it cant be that hard :lol:


Genius.jpg

That's only true for regular geniuses like Albert, not for F#*n Geniuses like me. :mrgreen:


I have no doubt that AE would agree that you bring new meaning to the word 'Genius' .... perhaps that's what your credentials "F#*n" allude to. Although I have my doubts :P :lol:

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Re: "Retirement" visa

Postby MGV12 » Mon Mar 17, 2014 4:32 pm

fredlk wrote:
MGV12 wrote: ... many pay 20-30K and higher in rent

You have obviously never rented in (central) Bangkok.
In 1999 I paid 22,000 for a studio apartment. It was the cheapest I could find.
The last place I rented in 2008 was 50,000 Baht per month after I managed to get the landlady down from 60,000.


Yes indeed ... one hears that one can pay 150K+ THB per month for a decent pad these days. I think it safe to assume that those who are willing and able to pay 50K and over ... let alone 150K and over ... wouldn't be too concerned about convincing Immigration that they have the wherewithal to live here when applying for a visa extension.

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Re: "Retirement" visa

Postby fredlk » Mon Mar 17, 2014 4:45 pm

MGV12 wrote:... one hears that one can pay 150K+ THB per month for a decent pad these days. I think it safe to assume that those who are willing and able to pay 50K and over ... let alone 150K and over ... wouldn't be too concerned about convincing Immigration that they have the wherewithal to live here when applying for a visa extension.

Generally speaking, those who rent over the 100,000 Baht per month mark are having their rents paid by their employers and their work permits and visas sorted for them.
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Re: "Retirement" visa

Postby pipoz » Mon Mar 17, 2014 5:28 pm

Not sure how this post wandered on to Rents in Bangkok, but no one needs to pay TB 150K per month or even 50K per month to rent a nice furnished Apartment in Bangkok

Just log on to www.acruterealty.com Condominiums For Rent and have a look at the range available, say in the Sukhumvit Soi 1 to 71 area, for between 20 to 40K per month. My search came up with 442 No.

Then there are other sites such as Realtymatchmaker and CBRE Thailand, which also have a host of Apartments, again in Sukhumvit, just begging to be rented at between 20-40K

Anybody who pays more that 50,000 TB per month, to rent an Apartment is trying to live a life he/she cant afford, or he has someone else paying the Bills

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Re: "Retirement" visa

Postby fredlk » Mon Mar 17, 2014 6:01 pm

pipoz wrote:Not sure how this post wandered on to Rents in Bangkok

Last comment on rents in Bangkok:
I was talking about what I call Central Bangkok where I preferred to live, in the vicinity of Lumpini Park. Sukhumvit is too busy for me.
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Re: "Retirement" visa

Postby Sometimewoodworker » Mon Mar 17, 2014 7:43 pm

pipoz wrote:The TB 800,000 is money normally to be kept in the bank, from what I have seen in this post. I expect that even with the Apartment in my name that I will still need to show that I have a monthly income of TB 65,000 each year when I got to renew. This is not in question, as I know I must prove this.

What I am saying is that with Title to an Apartment in my name, I may not need show or prove that I maintain a Thai Bank Balance of minimum TB 800,000, although I am ready to be correct on this aspect.

Title to an Apartment, Condo, or House does not have any relevance to the yearly extension of stay for retirement, support of a dependant or marriage.

For an extension of stay for retirement you must have one of the following
1) a Thai bank account in your sole name with a balance of ฿800,000 or more that has been in the account for more than 90 days (there is no requirement to source the money from outside Thailand)
2) a monthly income from outside Thailand (you are not permitted to work in Thailand) of ฿65,000 or more.
3) a combination of income and a bank deposit equivalent to the above (there is no time limit on the bank deposit) however I doubt that a bank deposit of ฿12,000 and income of ฿64,000 would be accepted.

For an extension of stay to support either a spouse or child you must have one of the following. You can not combine the 2 in the same way as for retirement.

1) a Thai bank account in your sole name with a balance of ฿400,000 or more that has been in the account for more than 90 days
2) a monthly income of ฿40,000 or more, you can work in Thailand (with a work permit of course) with this extension of stay.


There is an extension of stay for investment of of an amount in excess of ฿10,000,000 however I don't know the details. I think you can use the money to buy condo's

Out side the 90 days you can do anything you like with the money, but if you go ฿1 under the limit or 1 day less than 90 days your extension of stay will probably not be granted and you will probably have to exit Thailand within 7 days.

Many people use the retirement option even if they qualify for support of a dependant or marriage. As it is granted locally and usually quickly. The support of a dependant or marriage needs quite a few more documents, the Thai national to accompany you when you apply and will be sent to Bangkok for approval, which often takes a month.
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Re: "Retirement" visa

Postby schuimpge » Mon Mar 17, 2014 9:06 pm

fredlk wrote:
MGV12 wrote: ... many pay 20-30K and higher in rent

You have obviously never rented in (central) Bangkok.
In 1999 I paid 22,000 for a studio apartment. It was the cheapest I could find.
The last place I rented in 2008 was 50,000 Baht per month after I managed to get the landlady down from 60,000.


I rented a 2 bedroom, newly furnished apartment in 2005 for 25k. Sukhumvit 36. Nice building, pool and everything.
Friend of mine owns 2 apartments on Sukhumvit 50. Studio goes for 11,000 p/month and still very hard to get it rented out.
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Re: "Retirement" visa

Postby schuimpge » Mon Mar 17, 2014 9:14 pm

Roger Ramjet wrote:
pipoz wrote:I myself went an opened a Bank Account in Thailand (with a certain Bank) last year. I just walked into the bank with my TG, just showed the Bank Manager my Passport and Overseas Residency Visa and 5000 US (I did not offer any proof of address in Thailand, or any proof of utility bills and and did not have any Thai type visa).

You can open 200 bank accounts as long as you have a passport with a valid visa. The address is for contact purposes only (mail, phone number, etc). You do not need a letter from Thai Immigration and you don't need a yellow book.


Don't know situation now as I have a work permit for years already.
But in 2004 I needed an account and walked into the Sukhumvit branch of the bank with the same name as the city.
On a tourist visa, I filled in the documents, deposited 1000 baht and the only thing they did was copy my passport.
Walked out of the bank with a bank book, ATM card to use everywhere in the world and no questions asked.

I am now legally married with my Thai wife, but that time single and walked into the bank with a girl I knew from one of the bars who did the talking.. Easy as that..
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Re: "Retirement" visa

Postby pipoz » Mon Mar 17, 2014 9:57 pm

Thanks Sometimewoodworker

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Re: "Retirement" visa

Postby Sometimewoodworker » Mon Mar 17, 2014 10:55 pm

schuimpge wrote:
Don't know situation now as I have a work permit for years already.
But in 2004 I needed an account and walked into the Sukhumvit branch of the bank with the same name as the city.
On a tourist visa, I filled in the documents, deposited 1000 baht and the only thing they did was copy my passport.
Walked out of the bank with a bank book, ATM card to use everywhere in the world and no questions asked.

I am now legally married with my Thai wife, but that time single and walked into the bank with a girl I knew from one of the bars who did the talking.. Easy as that..

That was then. The situation now is very different.

There is also the fact that different bank branches will interpret or apply the rules in different ways.

For example I was totally unable to open a second account in my local town and bank, but in the main city though difficult I was able to open an account
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Re: "Retirement" visa

Postby fredlk » Tue Mar 18, 2014 8:55 am

pipoz wrote:Anybody who pays more that 50,000 TB per month, to rent an Apartment is trying to live a life he/she cant afford, or he has someone else paying the Bills

Some of us are just rich. :lol:
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Re: "Retirement" visa

Postby MGV12 » Tue Mar 18, 2014 10:18 am

fredlk wrote:
pipoz wrote:Anybody who pays more that 50,000 TB per month, to rent an Apartment is trying to live a life he/she cant afford, or he has someone else paying the Bills

Some of us are just rich. :lol:


plautus_modesty_becomes_a_young_man.jpg


However ... "No man is rich enough to buy back his past."
Oscar Wilde :lol:

who-knows-himself-a-braggart-let-him-fear-this-for-it-will-come-to-pass-that-every-braggart-shall-william-shakespeare-370468.jpg


Even The Bard knew that bragging about money can get one some ass :lol:
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Re: "Retirement" visa

Postby fredlk » Tue Mar 18, 2014 10:27 am

MGV12 wrote:
plautus_modesty_becomes_a_young_man.jpg

Yep, been there, done that and so decided when I got older to ditch it.
MGV12 wrote:"No man is rich enough to buy back his past."

Luckily I have no regrets and nothing to hide. :D
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