New 10 year retirement visa approved

[frequent]

This visa saves you from doing a yearly extension, instead one needs to extend twice I presume, the first for five years, and after that another one for five years. So it saves money. 2x1900 baht against 10x1900 baht. If one also wants to leave Thailand from time to time, it represent another cost saving, as instead of 10x3800 for a mulitple re-entry permit, you now only need two.

Any thoughts on the opportunity cost of leaving 3 million baht in the bank for 10 years at 1% interest?

[francois]

3,000,000 x 1% x 10 years = 300,000.

[Moses]

3,000,000 x 1% x 10 years = 300,000.

wrong

3313866.37 1% yearly if interest is calculating monthly

[frequent]

3,000,000 x 1% x 10 years = 300,000

wrong

3313866.37 1% yearly if interest is calculating monthly

Either way it's chump change over a 10-year period. You wouldn't bother to get out of bed for that sort of money if it was a wage

[justaguy]

Any thoughts on the opportunity cost of leaving 3 million baht in the bank for 10 years at 1% interest?

Actually you do NOT have to leave that money in the bank for ten years AND you can go the monthly income route, 100.000 baht is all you need to show.

The money has to stay in a bank account for only one year, and presumably has to return by the time the second extension is due.

Not sure about the calculations above, but leaving that money in a bank earns you interest, gambling that money to get a higher interest rate might work, but not at a rate as say 10 years ago. In any case, that money doesn't have to be left earning just 1% interest for 10 years. Pretty certain this option is cost and hassle saving.

[arsenal]

Can you get a refund if your dream of living in Thailand becomes a nightmare and you turn into a bitter, twisted and spiteful old queen with nothing to do except write vitriol all day?

[frequent]

Actually you do NOT have to leave that money in the bank for ten years AND you can go the monthly income route, 100.000 baht is all you need to show.

The money has to stay in a bank account for only one year, and presumably has to return by the time the second extension is due.

Do try not to mislead the ordinary punter. The money has to stay in the bank for the first year and thereafter up to 50% can be withdrawn for an approved purpose. The entire 3 million must be there to renew for the next 5-year extension. The statement "100,000 baht is all you need to show" is a straight out lie. The regulations state "or a combination of 1.8 million baht in the bank and income not less than 1.2 million baht. That's 100,000 a month plus 1.8 million in the bank

Do try to pay attention and not be a total twat

[Nirish guy]

More importantly if you DIDNT have that sort of money in the bank when deciding to retire to another country I think you'd have bigger problems ahead that worrying about which visa to select perhaps !

[justaguy]

Do try not to mislead the ordinary punter. The money has to stay in the bank for the first year and thereafter up to 50% can be withdrawn for an approved purpose. The entire 3 million must be there to renew for the next 5-year extension. The statement "100,000 baht is all you need to show" is a straight out lie. The regulations state "or a combination of 1.8 million baht in the bank and income not less than 1.2 million baht. That's 100,000 a month plus 1.8 million in the bank

Do try to pay attention and not be a total twat

Manners old man. Apparently either your parents did a piss poor job in teaching you manners about 100 years ago, or you just can't help yourself. You have no idea what a twat is, so don't use the term..

futhermore, when this was announced there was no mention of a combination of income and money in the bank:

Applicants must either earn a monthly salary of at least 100,000 baht or have more than 3 million baht in their bank account,

so I was just repeating what was published in october last year, when this was announced. That they now have made a change is not my fault. the only thing I'm guilty off is not reading the op to find out they have changed those requirements.

In any case, as Nirish Guy was trying to point out, if you intend on living in a foreign country, you better have some cash to support yourself. After all, even 1.8 million baht (or half of that after one year) isn't exactly a lot of money. Neither are the cost of having to leave that in a bank account.

Oh and before you start nitpicking about the 100.000 not being a monthly income, of course I was referring to a monthly income, after all, the current regime also states a monthly income of 65.000 baht, so assumed that was obvious, even to old geezers without any manners.

[frequent]

You have no idea what a twat is, so don't use the term.

I know exactly what a twat is, because the Urban Dictionary is my constant companion, It's a mildly more polite word than "cunt"; alternatively it means a person regarded as stupid or obnoxious. You amply qualify under both meanings

That they now have made a change is not my fault

Heavens no, don't take personal responsibility for not keeping up to date and repeating old information as if it's relevant, especially as the OP had actually stated the requirement a few posts earlier than yours. As I say - you're a complete twat