What are the financial requirements for obtaining a Thai retirement visa?

@Trevor ************

no that is not correct :( Every immigration office follows the same set of rules for extensions.

The rules changed almost 2 years ago to 2 months before and three months after for ALL extensions based on retirement using banked money no matter if it was your first or your fifth extension.

Before that it was first year, 2 months before and every year after that it was 3 months before. That rule has been rescinded, AND if you have a immigration office telling you different they're just trying to snow you..

@Trevor ************

could well be.

@Brett ******

last year was the FIRST year of the new changes, and that's why they didn't ask on that extension, THIS year is the first FULL year since the changes came into effect and it's why they are asking everyone for a year's worth of balance history :)

@Steve *********

and I'm saying that IF you had stood your ground, told them you wanted to file an appeal they would have backed down and let you use the combination method.

If you're from the US, UK, or Australia (or any country that doesn't issue the income affidavit anymore for monthly income) you would have had to transfer the money every month into your thai bank account from abroad BUT again you CAN use the combination method.

Good Luck, take care, stay safe

@Tod ********

thanks, but between 3 trips in one day, my bank cslling them, . No answer at Consulste, just frustrations...

Easier to go to different province.

New province said " ah ! Chiang Mai, many problems .

Thailand is to enjoy, not have officials play ego games .

@Joe **********

ok I know UK and US stopped it.

@Joe **********

oh thanks mate

@Steve *********

immigration office differ in the way they implement rules. In my present and previous area they do/did not ask for the proof that the funds have been transferred on monthly basis. That is why it is better to talk to your local immigratiom office.

@Steve *********

cheers mate yes monthly transactions via TW marked FTT

@Joe **********

yes understand thanks again

@Jer***

that you might die isn't the key point, that's just an aside that makes the value of Elite lower, as if you die during it your price per year is even higher.

The point of the time value of money is that money in the future is worth more than money now.

As you have to pay for the 20 years of the Elite _up front_ you cannot calculate the per year cost based simply on dividing the amount paid by 20.

You need to look rather at what 1m THB / $32,000 would be worth 20 years from now, and divide _that_ by 20 to get the true average cost. I picked the example of TIPS as they are a 100% capital guaranteed risk-free investment, very conservative. In that case you'd have ~$80,000 at the end of your 20 years. You'd have more if you stuck it in a stock market index, but with risk.

On the basis that if you didn't buy the Elite visa, you could instead invest your money, and at the end of the 20 years, have $80,000. So the true cost of having to front $32k today, for a service you receive over 20 years, is higher than simply the $32k.

@Ivan ***********

but yet you have mentioned that everybody does not know their expiration date numerous times...what happens to that investment money if you don’t leave a will?

@Jer***

honestly I give up. It's a relatively simple concept you seem to be intentionally obtuse about it.

The key concept here is very simple, that $32k up front today is worth more money than spread over 20 years.

There is also a difference between money you pay AS A VISA FEE and never see again and money that you merely need to DEPOSIT but that stays yours.

You also don't seem to understand the idea that the annual deposit for the retirement visa can be _the same_ money from one year to the next, with your comparing the visa deposit to a supposed Elite annual fee. This makes no sense as you KEEP the deposited money.

I don't know if you honestly can't see the difference between these concepts or if you are just deliberately obtuse or trying to fool yourself to make yourself feel better about your purchase. Or maybe you're just playing a game, that you like to argue on the internet.

The concept of your expiration date is a separate issue. But yes it does actually factor in to financial planning in retirement. If you buy an annuity, for example, for a given fixed price you will get a higher monthly payout the older you are because the annuity company expects you to die sooner.

So in this sense, yes, it is relevant. If your life expectancy is only 5 years a 20 year visa is even less worth it.

What happens to your Elite visa if you die? It's gone. At least any money you have invested you CAN leave to someone.

I'm not against Elite. Not at all. I just think people need to look at it and the true costs and the other options realistically, and you do not help with this, you continually try to obfuscate the true cost of it vs the other viable options.

There are valid scenarios to buying Elite- if you don't qualify for a long-term visa otherwise, that's a good one. So, under-50s, absolutely.

The other one would be that if you have SO much money that the $32,000 simply doesn't matter to you at all and it's worth it to you to spend $32k to avoid the small annual bureaucracy you would otherwise need to go through with a non-immigrant visa. I get that, if you are so rich it doesn't matter, why not, it's very marginally easier.

But if we are trying to have a discussion purely on the financial cost of it, where we are presuming that the $32k does matter to the person, I think we need to be realistic on what it actually costs, vs 1,900B every year for a regular non-immigrant visa. You can certainly factor in an opportunity cost of the deposit, for the period it needs to be maintained, that you can't have it in a more lucrative investment vehicle, but it is impossible for that to be higher than a fee that you pay and never see again. That's a 100% loss.

It's difficult to discuss this with you because honestly you seem to either be trolling or if not just really unable to wrap your head around or engage with any of these concepts, you just talk past them.

@Ivan ***********

but yet like you have stated repeatedly nobody knows their expiration date...so if you invested that money and not see the end what money did you exactly make off of it...with the EV I could live my best life even if my expiration happened within that timeframe...

@Jer***

or, you just use the money and spend it on yourself, if that is what you prefer.

Or invest it in something that pays you an income, over whatever period.

You very deliberately twist this stuff, to miss the point completely. It's as if you don't want to get the point, you don't want to engage with any of these issues.

@Ivan ***********

exactly spend it on yourself...the EV is an expense that you spend on yourself...plus if you look at it if you live in a western world country you spend way more than that $80k you keep going on about to just survive, live and eat over that same 20 year period...while in Thailand you have the ability to live life for a pittance...so for me the adventure and lifestyle far outweighs the initial startup...thank you for finally agreeing with me

@Jer***

this would be totally valid as an argument if there wasn't some alternative visa. A substitute good. Like a retirement extension, that costs 1,900B/year.

@Ivan ***********

฿1,900 plus the untouchable money in the bank...

@Jer***

yes, and it's reasonable to consider the opportunity cost on that sitting in a low interest Thai bank account vs the risk-free rate you could get on it otherwise. Not actually that different right now but you should factor that in when considering.

But the money stays yours, so in no scenario is making only a small return on it worse than losing 100% of it which is what happens when you pay the visa fee.

@Ivan ***********

yeah but what if you need that money then what?? I can’t see money sitting in a bank Acct like some sort of precious art piece that untouchable...with the EV you don’t need to have money sitting in a bank Acct for 20+++ years you can use it as you need

@Jer***

with the EV you can't "use it as you need" because you gave it all to Elite for the visa at the start. It's gone. FFS, you are so disingenuous with this.

It's a simple distinction- money that is yours and you get back vs money that you pay as a fee and never see again no matter what.

Even considering an emergency situation- there is no restriction whatsoever on your lodged money for the retirement visa. If you REALLY needed it you could withdraw it and use it. It would just mean you wouldn't get your next retirement extension, so you'd have to start again with a new non-O visa. But you could use the money if you really needed it.

You are either arguing in bad faith or you are just slow.

@Ivan ***********

like you stated, spend money on yourself...no need to have a fortune in a bank Acct you can’t touch

@Mas****

this is an option in the law, the combination, whether you can do it depends on your immigration office. If they do let you, yes, you can show only the difference in the bank.

Also consider that for the income method you just need to transfer 65,000 in to Thailand each month. They don't care where it comes from. So if you had extra money you could transfer in with your SS, you could qualify on the income method alone.

Buddy Morin if you can’t touch it ever what does it matter??

@Jeremy *******

well if you’re not sure you want to stay for 20 years, or even 4, it’s a big difference

@Jane **********

With the EV you have the option to come and go as you please...

@Jeremy *******

You can come and go as you please with a yearly extention of stay for 1,900bt and a re-entry permit for 3,800bt. Plus you never loose your 800,000bt. Way cheaper than the Elite visa.

@Jeremy *******

I know