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Thread: Expat Income Requirements Changing?

  1. #51
    Senior member Gaybutton's Avatar
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    Re: Expat Income Requirements Changing?

    Quote Originally Posted by bkkguy View Post
    no, once you have decided you know the "right" answer you just dismiss anyone who disagrees with you
    Nonsense. I have been wrong many times and will probably be wrong many more times. When I realize I've been wrong I post and admit it - something I've never seen you do. Of course you're never wrong, are you?

    And here you are, still evading giving even one example, but you'll keep coming up with these kinds of posts to try to get out of it rather than just admit you can't come up with anything at all to back your stance. If you can provide an example, let's have it.

  2. User who gave Like to post:

    mr giggles (November 13th, 2021)

  3. #52
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    Re: Expat Income Requirements Changing?

    There was a member of at least one of the Boards who came to the realisation after living here for at least 12 years that he could not meet the new regulations which came in for the 800K route. He decided instead he would go the O-A route. So he returned to the USA, got the O-A visa and came back knowing he had basically two years in Thailand (provided he took one short trip outside the country at the end of Year 1). He returned to the USA before the end of Year 2, got another O-A and was again totally pleased that he had taken that route. As @bkkguy points out, no cash in the bank requirements. It fitted his requirements almost perfectly.

  4. #53
    Senior member Gaybutton's Avatar
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    Re: Expat Income Requirements Changing?

    Quote Originally Posted by Armando View Post
    It fitted his requirements almost perfectly.
    Thank you. Finally an example. I'm glad it works well for him.

  5. #54
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    Re: Expat Income Requirements Changing?

    Nothing entertains me more than watching a couple of cantankerous old queens slogging it out

  6. User who gave Like to post:

    Brad the Impala (November 13th, 2021)

  7. #55
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    Re: Expat Income Requirements Changing?

    Quote Originally Posted by goji View Post
    Firstly, Thailand is perfectly entitled to target only wealthy retirees.

    However, to join the Elite scheme, you either need to be truly Elite ?
    If you were truly ELITE, why would you retire to Thailand?

  8. #56
    Forum's veteran Manforallseasons's Avatar
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    Re: Expat Income Requirements Changing?

    Quote Originally Posted by Armando View Post
    As @bkkguy points out, no cash in the bank requirements. It fitted his requirements almost perfectly.
    So I gather he must use the 65,000 baht monthly transfer into his Thai bank account.
    "In the land of the blind the one eyed man is king"

  9. #57
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    Re: Expat Income Requirements Changing?

    Quote Originally Posted by Manforallseasons View Post
    So I gather he must use the 65,000 baht monthly transfer into his Thai bank account.
    Not at all. The original version of the O-A only required money outside Thailand which was easy enough to "prove". It was a 12-month multiple-entry visa so people could leave at month 11.5 and re-enter, receiving a further 12 months. It's a loophole that may still exist I believe but now new applications have to show the mandatory health insurance which complicates matters.

  10. #58
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    Re: Expat Income Requirements Changing?

    What we know:

    All retirement visas are inherently the same as they are all issued pursuant to Section 34 (15) of the Thai Immigration Act. The only significant difference between the O and O-A visas is their place of application, and the fact that the O-A visa holders were required to have 3M THB in health insurance, effective Oct 1, 2021.

    - Visa changes are in the process of being made (confirmed)
    - Programs established for attracting wealthy retiree's (confirmed)
    - Financial income requirements for Long Stays to be increased (highly probable)
    - Insurance policies for expats > 70 y/o fully developed and available for purchase (confirmed)
    - Health insurance mandate standardized across all Long Stay visa classifications (possible)
    - Visa classification restructuring, i.e., streamlined, simplified, updated, gaps closed (probable)
    - Grandfather clause for income requirements similar to 1998/2003 revisions (possible)
    - Continuous extension provisions established to quality for Grandfathering (possible)

    What we can assume from what we know:

    - Changes will be introduced sometime in 2022 (probable)
    - All retirees with Long Stay visas will be required to have health insurance (3M THB) (possible)
    - Retirees who have >2 yrs continuous extensions, with no interruptions, classification changes, cancellations, or lapses, may be grandfathered from income increase (possible). Ranked "possible" because this is how immigration handled grandfathering to the 2003 revisions.

    Note: The financial income requirement for retirees was last changed to 800k baht and 65k baht income in 2003. Marriage was changed from 250k baht and 25k baht income to the 400k baht and 40 baht amounts in the same year. Those who were on continuous extensions of stay based upon retirement in 1998 were grandfathered and the 2003 increase did not apply to them.

    Why would it be important to not change your visa classification at this time? Because doing so could potentially be considered a break in your “continuous extensions” as interpreted by Immigration, resulting in your disqualification from being “grandfathered”. This of course is only speculation at this time, but in the event this were to happen, you could potentially be forced to comply with the revised (2022) financial income requirement.

    General Visa Stuff:

    Thailand has 11 different major visa types as follows:

    - Special tourist visa (STV)…not to confused with STD
    - Tourist visa (TR)
    - Non-immigrant Visa-B (Business)…and MFAS
    - Non-immigrant Visa-B (Working)
    - Non-immigrant Visa-ED
    - Non-immigrant Visa-O-A (Long Stay)
    - Non-immigrant Visa O-X (Long Stay)
    - Non-immigrant Visa-O (Thai Spouse)
    - SMART Visa
    - Tourist MT Visa (Medical Treatment)
    - Elite Visa

    For comparison purposes, the U.S has 31 major visa types, China has 16, Cambodia 6, and Australia with over a hundred. Cambodia is the only country (of the ones mentioned) that actually has a Retirement Visa (ER) for foreign nationals over the age of 55 who are retired and can support themselves financially without working. This 12 month visa can be extended annually.

    On a personal note: Cambodia is my Plan B. If Thailand doesn’t get its act together in 2022 - Cambodia may have a new retiree from Chicago and his partner from Thailand moving in. It's not the visa changes that I'm concerned with. I'm concerned with the way expat retirees are treated in general. If Thailand starts treating their internal investors (retirees) with the same level of care and priority as their external investors I'm sure I'd be happy. But that may require miracle.

  11. #59
    Forum's veteran cdnmatt's Avatar
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    Re: Expat Income Requirements Changing?

    Quote Originally Posted by StevieWonders View Post
    Not at all. The original version of the O-A only required money outside Thailand which was easy enough to "prove". It was a 12-month multiple-entry visa so people could leave at month 11.5 and re-enter, receiving a further 12 months. It's a loophole that may still exist I believe but now new applications have to show the mandatory health insurance which complicates matters.

    Holy shit, there you are. I thought you were dead, and Covid got the better of you. Welcome back.

  12. #60
    Senior member Gaybutton's Avatar
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    Re: Expat Income Requirements Changing?

    Quote Originally Posted by Dodger View Post
    What we know
    Guess what - I completely agree with your post. And they say miracles don't happen . . .

    Regarding grandfathering - since many of us are old enough to be grandfathers, they ought to give us the benefit.

  13. User who gave Like to post:

    Dodger (November 13th, 2021)

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