Expat Income Requirements Changing?

[Dodger]

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I know several retirees without pensions or social security who have joined the Elite scheme and are very happy with it. But then they know they plan to remain in the Kingdom for the rest of their lives - or are rich!

Every time this topic comes up I find myself either laughing, choking, groaning, gagging, or just getting dizzy and falling into a catatonic trance.. Not sure why this happens. Just a natural reflex I guess.

If my monthly retirement income wasn't enough to qualify for a retirement visa in Thailand, I wouldn't have retired here. Having 800,000 THB frozen in a Thai bank account is something I would never even consider. The Elite Plan is a sham. It would be a cold day in hell before I walked into Immigration and handed anyone 600,000 THB for anything.

This is Thailand. And the way I look at it, they (Immigration) will do everything in their power to get as much money from you as they can, and will use their legal discretion (legal loop holes) to do exactly that. The only way to beat them at this game is to not play the game. And the only way to not play the game is to comply with the requirements. No huge sums of money frozen in their banks. No small fortunes slid into their pockets. And no visa agents - who serve as nothing more than the conduit for the flow of funny-money into the same pockets. You either have the income necessary to live here - or you don't.

If they were to ever raise the monthly income levels in excess of what I'm bringing in without having a "grandfather" clause,, I'd move to another country.

I fully understand that some people have plenty of money in the bank, but don't have a monthly retirement income that meets the minimum requirements. For them, I guess the 800,000 THB method is something to consider, BUT, only if they're financially secure enough to be able to freeze this amount of money in their bank without incurring any financial hardships. The problems come into play (happens often) when people are not financially secure enough to do this on a continual basis and start having financial problems. To be honest, if I was in their shoes, I would not have selected Thailand as my place for retirement.

[Armando]

Every time this topic comes up I find myself either laughing, choking, groaning, gagging, or just getting dizzy and falling into a catatonic trance.. Not sure why this happens. Just a natural reflex I guess.

If my monthly retirement income wasn't enough to qualify for a retirement visa in Thailand, I wouldn't have retired here. Having 800,000 THB frozen in a Thai bank account is something I would never even consider. The Elite Plan is a sham. It would be a cold day in hell before I walked into Immigration and handed anyone 600,000 THB for anything.

So assuming you did not have social security at a certain level or a pension because you had worked for various companies without pensions - true of many who work in Asia - where would you have retired to? You forget that not every one is as fortunate as you. Some others have to find different ways, either through the 800,000 route or Thailand Elite. Is there another route for those who have no pension? As for those who dismiss Thailand Elite, I know several who are members and not one thinks it is anything but a great move for them in their financial circumstances. Which is the better alternative? 800K locked in a bank account for life or until you leave (I believe) or 1 million for 20 years visa?

And remember that if the government can change the Thailand Elite programme, it is in my view more likely to change the retirement visa requirements first. Thailand Elite seems to be aimed primarily at those the government actually want to live here. Does it want everyone paying 65K per month when that amount has remained static for a great many years. Surely it is bound to go up sooner rather than later. And of so, by how much? Remember too that the 800,000 route was changed only a couple of years ago to make that route more difficult for many people. For how much longer will that 65K remain at that level?

[Gaybutton]

and GB, despite your constant protestations, not everyone is in the same situation as you are

Thank you for pointing that out. Until your post I thought everyone was in the exact same situation I'm in.

I'm waiting for you to tell me all about how there are still a number of scenarios where a Non O-A visa may be a better choice than getting the O visa within Thailand and provide some examples.

the 800,000 route was changed only a couple of years ago to make that route more difficult for many people. For how much longer will that 65K remain at that level?

And I was in favor of the change. It was one of the few times I thought what they were doing made good sense. A significant number of people supposedly were cheating one way or another, which I bitterly resented since I was doing it honestly. The changes made it more difficult for people to cheat.

However, I definitely dislike being forced to keep 800.000 baht untouchable in a Thai bank account.

As for any upcoming changes, whether to the 800,000 baht rule or the 65,000 baht per month rule, I too think it will happen, but bear in mind all we have to go on is sheer speculation. There has been absolutely nothing from the Thai end to indicate changes are coming or even contemplated. No way to prepare for any changes because there is no way to have any idea what those changes might be or who they would affect - if they happen at all.