Change in what Canberra Embassy wants.

Whatever the hell I want to do with it rather than have it stuck in a Thai bank for no damned good reason. It is a considerable amount to just lay in a crappy Thai account. All one should need to do is be able to show one has the means in other accounts in other places.
 
Cent said:
Whatever the hell I want to do with it rather than have it stuck in a Thai bank for no damned good reason. It is a considerable amount to just lay in a crappy Thai account. All one should need to do is be able to show one has the means in other accounts in other places.
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I thought that you may have some investment tips.
 
Yorky said:
I thought that you may have some investment tips.
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Who would of thought bunging a shite load of Aussie dollars in a stagnant Thai bank account would be a good investment.
Bloody hell, I just calculated the return in 4 years. A staggering 47.6% !!!!! :eek:
 
Rice said:
Who would of thought bunging a shite load of Aussie dollars in a stagnant Thai bank account would be a good investment.
Bloody hell, I just calculated the return in 4 years. A staggering 47.6% !!!!! :eek:
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Back in '94 I invested £10,000.00 in what was supposed to be a conservative portfolio. Four years later it was worth £16,000.00. A couple of weeks after that, it was worth £8,000.00.
 
Yorky said:
I don't think that you would get a prime rental property for ฿800,000.00.
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Actually you could if you are willing to put in some of the rehab work yourself and have some good Thai workers to help. Paint, electrics, plumbing and some counters and cabinets and such. Plenty of 'townhouse' places around for less than 800K baht. Though every Thai wants to make a million baht off their property, especially in the city properties. Your problem here is you cannot own the land. And the rents are low, maybe 5 or 6 K baht a month for a decent place once you have it looking good and it is in a decent area. Then you'd have a 5 K baht rent coming in a month for life until you decide to sell it. But you'd need a wife and/or kids you trust to put in their name. Or incorporate. And you'd want to buy a few over the years to make it worth your time and investment. And it takes longer to get your money back from rent here. Say 6K baht a month for the rent you get once you pay 800K baht for a property. Well, that's what? 72K baht a year? Divided into your 800K investment. 12 or 13 years or so to make your investment back before it is paying your 'dividend? You'd probably do better here buying, fixing up, and flipping for quick profits instead.

Still better than just leaving your 800K each year sit in a Thai bank for no damn good reason except they want your money to use while it is in their bank. No good reason for that to 'prove' you can pay to play and stay here and get a valid 'visa' in this day and age of internet banking and computers. You can easily prove your income and worth no matter where in the world your money is. It's complete bullshit. And the Thais know it is bullshit.
 
Cent said:
Still better than just leaving your 800K each year sit in a Thai bank for no damn good reason except they want your money to use while it is in their bank. No good reason for that to 'prove' you can pay to play and stay here and get a valid 'visa' in this day and age of internet banking and computers. You can easily prove your income and worth no matter where in the world your money is. It's complete bullshit. And the Thais know it is bullshit.
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Just for information, the bank interest rate in UK is currently 0.75% (and I don't even get that - I get zero!). The interest rate which I currently get here in Thailand is 1.05%.
 
Cent said:
Actually you could if you are willing to put in some of the rehab work yourself and have some good Thai workers to help. Paint, electrics, plumbing and some counters and cabinets and such. Plenty of 'townhouse' places around for less than 800K baht. Though every Thai wants to make a million baht off their property, especially in the city properties. Your problem here is you cannot own the land. And the rents are low, maybe 5 or 6 K baht a month for a decent place once you have it looking good and it is in a decent area. Then you'd have a 5 K baht rent coming in a month for life until you decide to sell it. But you'd need a wife and/or kids you trust to put in their name. Or incorporate. And you'd want to buy a few over the years to make it worth your time and investment. And it takes longer to get your money back from rent here. Say 6K baht a month for the rent you get once you pay 800K baht for a property. Well, that's what? 72K baht a year? Divided into your 800K investment. 12 or 13 years or so to make your investment back before it is paying your 'dividend? You'd probably do better here buying, fixing up, and flipping for quick profits instead.

Still better than just leaving your 800K each year sit in a Thai bank for no damn good reason except they want your money to use while it is in their bank. No good reason for that to 'prove' you can pay to play and stay here and get a valid 'visa' in this day and age of internet banking and computers. You can easily prove your income and worth no matter where in the world your money is. It's complete bullshit. And the Thais know it is bullshit.
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For me, married to a Thai is the better option than an extension based on retirement. I only have to put Bt 400,000 in a Thai bank to satisfy the requirements, and fortunately (for me) that is not the only Bt 400,000 that I have. It's not an "inconvenience" to let a Thai bank hang on to my money to satisfy the requirements for being able to stay long time, and I sure as heck don't want to get involved in buying, selling, renting, refurbishing anything here in LOS...had my fill in the States doing that.

Up to you though, if that's your choice...have a nice time.
 
mario299 said:
For me, married to a Thai is the better option than an extension based on retirement. I only have to put Bt 400,000 in a Thai bank to satisfy the requirements, and fortunately (for me) that is not the only Bt 400,000 that I have. It's not an "inconvenience" to let a Thai bank hang on to my money to satisfy the requirements for being able to stay long time, and I sure as heck don't want to get involved in buying, selling, renting, refurbishing anything here in LOS...had my fill in the States doing that.
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I have never been involved in buying, refurbishing and selling property and like you would not enter into that venture in Thailand.

A couple of years ago a friend, after seeing that I had almost half a rai of land doing nothing behind my house suggested that I should build a two story block of apartments there. I could obtain a bank loan to fund the construction and thereafter make a fortune renting out to students.

Have you seen the number of vacant properties in Surin?

Of course, I ignored his suggestion.
 
mario299 said:
For me, married to a Thai is the better option than an extension based on retirement. I only have to put Bt 400,000 in a Thai bank to satisfy the requirements, and fortunately (for me) that is not the only Bt 400,000 that I have. It's not an "inconvenience" to let a Thai bank hang on to my money to satisfy the requirements for being able to stay long time, and I sure as heck don't want to get involved in buying, selling, renting, refurbishing anything here in LOS...had my fill in the States doing that.

Up to you though, if that's your choice...have a nice time.
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Any venture of that type (or even any type of venture in Thailand) has a risk. Monies in the bank, whilst they will not be making a fortune for you, are far safer. Particularly if you don't need extra money (which we don't).
 
I can end this OP now. My Visa arrived. But here is the interesting thing. In Thai hand writing, written on my visa it says เยี่ยมคู่สมรสคนไทย (Visiting a Thai spouse).
Only funny as to they have never written on any visa before. Now I am going risk Corona Virus? Coming over? :oops:
 
Rice said:
I can end this OP now. My Visa arrived. But here is the interesting thing. In Thai hand writing, written on my visa it says เยี่ยมคู่สมรสคนไทย (Visiting a Thai spouse).
Only funny as to they have never written on any visa before. Now I am going risk Corona Virus? Coming over? :oops:
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Make sure you wear a mask..

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gotlost said:
Make sure you wear a mask..

s-l500.png
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They would be the only ones available. All in Darwin have been bought up by the foreign students and sent to China.
The thing is though. They are never going to get there, now are they. With all flights in and out of China canceled.
 
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