For those of us on retirement visas who choose the option to have 800,000 baht in a Thai bank every year upon renewal ...... generally we top off the account to 800,000 each year just before renewal time ............ does anybody know if this issue has been addressed vis-a-vis the new rules that relate to government holding 30% of various currency imports?
This seems a grey area at present in more than one respect.
1) Will 30% be held as capital? Possible in the short term but I read that you are allowed to bring in US$20,000 (720,000 baht) without this happening to it is circumnavigable and it is only a temporary measure. I think that if you deposit cash dollars they accept that they have come from abroad even if you purchased them in Thailand. Also remember that you can pro rata a pension. Instead of 800,000 in the bank a pension of 65,000 a month is acceptible or say 400,000 in the bank and a pension of 32,500 a month.
2) The new laws require that it be in the bank for 3 months before you apply. I have heard that Pattaya Immigration say that this is only for the first application and does not affect renewals but other regional offices think it is every year. Has anyone advice on this please?
Good point Wowpow, and one not mentioned often enough in discussions regarding the 12 month "retirement" visa.Originally Posted by wowpow
And for jvt22222's comment ( " ... For those of us on retirement visas who choose the option to have 800,000 baht in a Thai bank every year upon renewal ...... generally we top off the account to 800,000 each year just before renewal time ... " ), I think that is kaput now: the '3-months-before-renewal' rule is in place.
Cheers ...
Just another reason why I love living in Thailand
It looks as if we are OK
courtesy Bangkok Post
...... addresses the "800,000 baht-in-a-Thai-bank" issue and that they will not hold 30%.
As for the other point raised re having the money in the bank THREE MONTHS in advance of the visa application.............. I am in my 5th year of a retirement visa ....... I went last week to the Pattaya Immigration Office -- Soi 5 in Jomtien -- and asked "when I am ready for my renewal in a 4 months time, will this new requirement affect me?" ............. the Immigration Officer (the one who handles the first step in the renewal process) told me that it only applies to persons applying for a retirement visa "for the first time".
Although I use monthly income for my retirement visa renewals, a friend of mine uses the 800,000 baht in the bank. As did Jvt22222, he also inquired and received the same information form Pattaya Immigration - i.e., the 3 month rule applies only to initial application and not to renewals.
What silly idea? Wouldn't those be like the savings account I just opened from here? People there don't use SAVINGS accounts for currency speculation, do they? I suspect not.
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