I agree with the government, 400k is not enough, one major hospital operation and a flight back home for an emergency, for foreigner and his retirement visa dependant wife, and you're not left with enough to 'live' here.
How long was it 400,000 for before they raised it to 800,000, is it since 1979 when they bought the original act in ?
Anyone know ?
Burger
Retirement Visa renewal
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Wanderlust
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I don't believe that there is any thought about how much it costs to live here that goes into the selection of these amounts; it is probably just a civil servant picking a figure, and then they just doubled it without regard to inflation or living costs. It does cost more for farangs to live here, mainly because of our more expensive habits and wanting to have the things that we had at home, but it needn't as lomu said. 400,000 baht is just about GBP6000, and there are still people in the UK surviving there on this net income, and it is a well known fact that 2 people living together can live on less than if living separately. I am not sure what the UK State pension is now but I wouldn't mind betting that it isn't far from the figures the Thai government uses as the minimum requirement now. However, the rules is the rules, and we can't change them. One thing does puzzle me though; although I am happy for anyone who gets 'grandfathered' in on old amounts when rules change, how does that equate with the reason for the rules in the first place? As in, the Thai government says you need this amount of money to survive here in 2007, but let's say in 5 years they double it again, why do they think those who have been living here under the old rules will be able to survive then? Many on here say that they want to see evidence that this money is being used so we have to assume they regard it as the minimum survival level.
From what I can make out, the "marriage visa extension" went up from 200k to 400k in 2003. I'm not sure about the retirement extension - maybe at the same time?
I think the question of funds is a moot one. Regulations have to be met if you want a particular visa/extension. What you have over and above that for emergencies is "up to you". I'd reckon that with the cost of medical care for serious complaints, health insurance is wise to have.
Day-to-day living expenses are another matter. The minimum of 40k a month (for the marriage extension) seems reasonable to me, but this old chestnut could go on for ages. Other people will be able to get by on less, others will need more.
I think the question of funds is a moot one. Regulations have to be met if you want a particular visa/extension. What you have over and above that for emergencies is "up to you". I'd reckon that with the cost of medical care for serious complaints, health insurance is wise to have.
Day-to-day living expenses are another matter. The minimum of 40k a month (for the marriage extension) seems reasonable to me, but this old chestnut could go on for ages. Other people will be able to get by on less, others will need more.
Same old roundabout here, but I do agree with the above, doubling the cost of something is hardly in line with inflation. Will the next increase to a 1.6 mil one for retirement be "inflation" too?
The authorities don't give a monkeys about the cost of living and how much the aliens can get by on ... they just want more coin.
The authorities don't give a monkeys about the cost of living and how much the aliens can get by on ... they just want more coin.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
buksida wrote:
Same same Marriage from 200k to 400k.
You don't hear many people complimenting the government when they do not increase the amount for years on end, in line with inflation.
It's swings and roundabouts, which as you say Buksi-Caine, they go round in circles too
Burger
Take your point but if the retirement amount was at 400k for 15 years and then they doubled it to 800k, then that is in line with inflation at a rate of 5%.Same old roundabout here, but I do agree with the above, doubling the cost of something is hardly in line with inflation. Will the next increase to a 1.6 mil one for retirement be "inflation" too.
Same same Marriage from 200k to 400k.
You don't hear many people complimenting the government when they do not increase the amount for years on end, in line with inflation.
It's swings and roundabouts, which as you say Buksi-Caine, they go round in circles too
Burger
I'll compliment them when they make something easier for usBurger wrote: You don't hear many people complimenting the government when they do not increase the amount for years on end, in line with inflation.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
HHTel,HHTel wrote:Sam you weren't good at maths then!!
125 GBP for a single person is way out. 442,000 baht is equivalent to more than 6,000 GBP. I'd love to live in your world. Maybe you were talking weekly then yearly.
Those were precisely my initial thoughts, but when you multiply by 52 (weeks in a year) he is referring to annual income.
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Like leaving the retirement or marriage funds required at the same rate for years on end and not raising them in line with inflation ?buksida wrote:I'll compliment them when they make something easier for usBurger wrote: You don't hear many people complimenting the government when they do not increase the amount for years on end, in line with inflation.
Like 'grandfathering' in foreigners on old required funds.
Like changing the total ban on foreign land transactions to that of foreign developers only ?
Like reducing the retirement age from 60 to 55, then to 50 ?
Like exempting foreigners living here and buying property from the 30% deduction on capital inflows
Like changing the regulations on forming limited companies but leaving property buyers alone and only affecting foreign developers.
I think they love us.
Burger
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Wanderlust
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Thank you sam. You have calculated that at a rate of 68 baht to the pound, which is fair enough, but it isn't too far away from what the minimum amount used to be for a retirement extension. So now the Thai government believes that a retiree should have nearly double the UK state pension to be able to afford to live here; I don't know who that ridicules more, the Thai or the UK government? Of course pensioners in the UK do get other benefits such as free travel and certain health benefits, but even so it doesn't really add up on either side.sam wrote:Wanderlust, current uk minmum pension for a single person (over 80) is £125 per week 442,000 baht.
I'd only pick you up on one of your above points, Burger.
Firstly, financial requirements have increased at at least the rate of inflation. Accepted they're not raised annually, but when they do come along, it's a big hit. As I said before marriage funds doubled 4 years ago in 2003. Unfortunately, I don't know when they had had a rise before that - if at all - so, it's pretty difficult without that information to argue one way or the other. Additionally, as there is now no provision for 400K for the marriage extension for new applicatants, it's 40k per month, that equates to 480k a year, another 20% increase.
PS: just as a matter of interest, when was the retirement age 60? I've always known it as 55, then 50.
Firstly, financial requirements have increased at at least the rate of inflation. Accepted they're not raised annually, but when they do come along, it's a big hit. As I said before marriage funds doubled 4 years ago in 2003. Unfortunately, I don't know when they had had a rise before that - if at all - so, it's pretty difficult without that information to argue one way or the other. Additionally, as there is now no provision for 400K for the marriage extension for new applicatants, it's 40k per month, that equates to 480k a year, another 20% increase.
PS: just as a matter of interest, when was the retirement age 60? I've always known it as 55, then 50.
A little question in logic:
If I have 500,000 a year coming in on a one time hit per year, then that equates to a little more than 40,000 per month. Why doesn't that work? The alternative is having 400,000 in the bank and not to be touched for three months before application.
I've brought in over 10 mill in the last 2 years. That would equate to years of 40,000 per month. Doesn't work though. Strange eh?
If I have 500,000 a year coming in on a one time hit per year, then that equates to a little more than 40,000 per month. Why doesn't that work? The alternative is having 400,000 in the bank and not to be touched for three months before application.
I've brought in over 10 mill in the last 2 years. That would equate to years of 40,000 per month. Doesn't work though. Strange eh?
Exactly!buksida wrote:The authorities don't give a monkeys about the cost of living and how much the aliens can get by on ... they just want more coin.
There wasn't any inflation or wonderful improvements of the country to justify these radical increases, when the authorities doubled the financial requirements for marriage-/ and retirement- visa in 2003.
Bureaucratic arbitrariness including the (in the meanwhile confirmed) hope to squeeze out more money for nothing from Farangs seemed to be the only motivation.
It should make people thinking, why the average income of Thai people isn't increased in the same way and the Thais didn't starve yet.
On the other side I can understand the authorities better and better more, especially whenever I read some funny Farang-statements here.
Seems that some people are really begging to be ripped off and are willing to find excuses for this, as long as they can keep dreaming.
May be the climate is too hot, or the drinks are too cheap for someone?
End of rant - in the moment !
Last edited by hogus on Thu Mar 22, 2007 7:11 pm, edited 1 time in total.