Some Bangkok Embassies to stop Certification of Income Letters

[fabman]

The way the UK £ is going that will probably be nearly £25 grand.. Haha, anyone with that kind of money just sitting around doing nothing every year is very lucky ..
...

Lucky? Or for much of their working lifetime did they live beneath their means, saving and investing the difference?

Thank you SIR...!!
Best post on the thread....All the whiners here have probably lived above their means back home, hence the difficulty to deposit a smallish amount like 800k baht in a Thai bank account for 3 months to secure their visa.
Only this time there will be no nanny state to bail them out...

Fair enough, some people have worked hard all their lives and deserve to live here. But just because some of us don't have 25 Grand to spare dosent mean we shouldn't be able to live here, some of us have families here that we support and we still contribute to the Thai economy. I don't expect any nanny state to bail me out lol.

[Big Boy]

And someone had a letter from a bank formally stating the money had been in the bank for in excess of 3 months when it had only been in the account for 20 minutes.

The brokers do not produce the bank letter, the bank does.

I must apologise, not for the first time, for getting it wrong. In my defence, this thread is about cessation of Embassy letters. RCer gave one of the reasons for cessation as use of forged Broker letters. I didn't realise you had changed the purpose of the thread.

[m_right]

My opinion is that if you don't have 800k to leave in a Thai bank for 3 months what the hell are you doing living here.

In my opinion leaving 800K in a Thai bank is a poor use on my hard earned money. I have it but why tie it up in a Thai bank if I don't have to. Many better ways to invest it. I will do it reluctantly.
I was able to retire when I did by using my income wisely.

[T.O.M.]

My opinion is that if you don't have 800k to leave in a Thai bank for 3 months what the hell are you doing living here.

In my opinion leaving 800K in a Thai bank is a poor use on my hard earned money. I have it but why tie it up in a Thai bank if I don't have to. Many better ways to invest it. I will do it reluctantly.
I was able to retire when I did by using my income wisely.

Invest in Thai infrastructure funds.....most pay dividends quarterly, so you will get at least two dividends per year before you move the money back to your savings account to meet the 3 months requirement. Transfers between trading account and savings account -and vice versa- are free. You got a fund called JASIF, which returns around 9% yearly...traded on SET, so no fund manager fee only trading commission. If you choose to go this way, your 800k will return you 35.000 yearly based on two dividend payments. Dividends from infrastructure funds are tax free.
So instead of complaining...try to make the best out of the situation.
Having money in Thailand might even save you from unpleasant exchange rate surprises...

[Homer]

Fair enough, some people have worked hard all their lives and deserve to live here. But just because some of us don't have 25 Grand to spare dosent mean we shouldn't be able to live here, some of us have families here that we support and we still contribute to the Thai economy. I don't expect any nanny state to bail me out lol.

No one deserves to live in a country of which they are not a citizen. We are able to live here because the Kingdom of Thailand graciously allows foreigners to do so. Of course, not meeting their requirements means not being able to live here. It's their country, so it's their prerogative.

[Big Boy]

That comment is, of course correct, and everybody should be here under those conditions. Many of those people do meet the country's requirements, but have to learn how to prove it since the cessation of Embassy letters. Thailand have not changed their requirement, yet.

Unless I've missed the announcements, this problem still only applies to 5 countries, so Thailand will still be accepting proof of income from other nations.

[T.O.M.]

Fair enough, some people have worked hard all their lives and deserve to live here. But just because some of us don't have 25 Grand to spare dosent mean we shouldn't be able to live here, some of us have families here that we support and we still contribute to the Thai economy. I don't expect any nanny state to bail me out lol.

No one deserves to live in a country of which they are not a citizen. We are able to live here because the Kingdom of Thailand graciously allows foreigners to do so. Of course, not meeting their requirements means not being able to live here. It's their country, so it's their prerogative.

Spot on...!!
And no doubt the intention of the law regarding income was, that the income found its way to the Thai economy....As the system worked before, you had the Americans outright lying to get their affidavit (and bragging about it). As for other nations...the income letter only proved, that you had the required income in your home country, but not that the money was transferred to Thailand....which doesn't make much sense. And is unfair to the people following the requirement to the letter by keeping 800k in a Thai bank....I understand the difficulty for those under 50 with Thai families and children here, but at least Thailand gives you a fair chance to stay here even if you have to jump through a few hoops....Unlike the scenario with bringing the family to your home country, where you will find the door firmly closed for the family members holding a Thai passport

[laphanphon]

Don't think the Yanks have / had the monopoly on scamming Imm on ways to stay. Would think many other nationalities faked their paperwork.

But don't let that fact stop your prejudice from shining through.

[caller]

And no doubt the intention of the law regarding income was, that the income found its way to the Thai economy.

I'm sure if that was their intention, then that's what the rules would have said.

The current rules enable both those who have 800k to stick in an account for 3 months and others, unlike you, who have a monthly income. Put together they are more or less the same. It seemed to me a pretty sensible approach that enabled the majority of those intending to live here, that met other reqirements, to do so.

I am fortunate that I meet both both criteria, but like many others, I choose the income route. Unlike you, I have sympathy for those who may yet be affected by any changes in the income rules.

The BE said they 'notarised' 3000 such applications annually, I would imagine similar quite high numbers, pro-rata from other Embassies. That's a lot of expats, generally centred in a few areas. So lets say 700 in Hua Hin, plus those from other Embassies also affected, that's potentially a large number of expats - maybe over a 3rd of the population, that might have to leave and I could imagine the local economy being hit quite hard as a consequence. I'm sure the expat enclave towns will be making representaion to the various authorities about this, as will the tax office and so on.

I hope common sense prevails.

[HHTel]

As a percentage of expats claiming the required income, it's actually quite small. Around 80,000 + from the UK, 3,000 is tiny. I don't know how many of the 80K are retired. Apart from Myanmar and possibly Cambodia, the UK has the highest number of western expats.
If all the income users had to leave, it wouldn't even be noticed!

[laphanphon]

If all the income users had to leave, it wouldn't even be noticed!

If all the farang expats had to leave......it wouldn't be noticed.

[caller]

Does anyone know how many retired expats are in Hua Hin? I have read, but can't tell you from where, of 3000, does anyone know?

[laphanphon]

Update on my previous post (ref to Udon Thani Imm office) about acceptance of income affidavit, or monthly income statement from bank. Not accepting either after this year.

Come Jan 1st and beyond, only 400k or 800k in bank for appropriate amount of time 2 or 3 month whether new or extending, respectfully will be accepted. Again, Udon Thani Imm.

Whether country wide and or HH Imm.......guess it's wait and see.

Plan accordingly.

[HHTel]

Does anyone know how many retired expats are in Hua Hin? I have read, but can't tell you from where, of 3000, does anyone know?

Well, the population of HH is just over 63,000 according to the Bureau of Registration in 2017 and some reports state 84,000.
3,000 retirees is quoted on various forums but I can't find anyone that gives a source. The immigration office is sure to know. Maybe worth asking them.

[handdrummer]

As long as you can pay your bills it shouldn't make any difference how much money you have in the bank or receive as income. Some people don't like to keep their money in banks. Others prefer to pay for everything by credit card and use their bank acct. in there home country to pay their bills. The whole thing is about govt. control. Whether it's financial, moral or cultural the govt. wants to control it. Then there's the xenophobia that infects all people and in this day of illegal aliens forcing their way into many countries the fear is heightened and that leads to more govt. control over as many aspects of people's lives as they can stick their noses into.