Thailand Immigration and Investment Rules: What Expats Need to Know

Now from personal experience, I’ve been to Cambodia. It wasn’t I didn’t feel totally safe there. The crime figures for Cambodia against foreigners are a lot higher than they are in Thailand. Thailand I feel totally safe in Thailand. And all those scams going on and things like that, but generally I’ve never heard of a foreigner being hit on the head with a brick and robbed. So Cambodia it wasn’t really my street, to be honest. It’s not the sort of place I could live. The Philippines I’ve been there as well. The Filipinos are very nice people. It’s great that most of them speak fluent English that’s a plus point. But the pollution and the traffic is absolutely awful. If you’re going to decide to live in Manila in the capital, the air quality is very, very bad, and just getting around the city is a nightmare, basically. So again, the Philippines is not somewhere that would suit me. I’ve been going to Thailand for nearly three decades now, and yes, there are a lot of changes. But you know, I think the Thais are generally just trying to look after their country and who can blame them? I mean, I wish they did this in the UK. It’s just gone to pot in the UK.

Why Thailand Limits Foreign Ownership and Investment

As far as Thailand goes, can you imagine if they allowed foreigners to do in their country what, for instance, the UK government allow people to do here? Just look at London huge swathes of London where apartment buildings condos especially new ones, and especially the wealthy areas condo buildings are all purchased, but there’s nobody living there. Why? Because the Chinese have invested. They’re buying property in London. Russians, Chinese, Arab countries they’re investing in London. They’re investing all over the UK, actually. But as I say, there’s huge areas in London where nobody’s living, but you can’t rent, you can’t buy because they’re just investment properties. Now in Thailand, a foreigner can only own 49%. They can’t buy a property outright. They can’t buy land. And people complain about this. But again, guys this is my own personal thoughts. This video is my thoughts. It’s not something I’m trying to push on to other people. I’m not saying I’m right and other people are wrong. I’m simply giving you my opinion. This is what I think. So what I think is this: I think the Thai government are trying to protect their country, and I think they’re doing a pretty good job of it. Yes, it can be a little bit irritating, annoys people. But can you imagine if they allowed the Chinese for instance, as an example to come into their country and just buy up what they want, what they’ve done in other countries? You know, they’d go down to places like Pattaya, they’d buy up every beachfront property that is available. They’d buy up parts of Bangkok. There’d be a big Chinese influence in Thailand, and I think it would change for the worse. I just don’t think it would be such a nice place as it is now.

Visa and Immigration Rules for Foreign Residents

Now as far as the immigration rules go they’ve brought in these new rules. There’s thousands of videos out there, guys. I’m not going to go into great detail about if you’re retired you need this much, if you’re married to a Thai it’s this you can go look at other YouTube videos and you can get all that information. Now I know people since these rules have come out I know people have got retirement visas and they don’t have 800,000 baht in the bank, they don’t have 400,000 baht in the bank. They’re on pensions. I can’t give you too many details, but what I will say is there are still agents operating all over Bangkok, Pattaya, who for 30, 40,000 baht will get you the visas. As I say, there’s a lot of moaning videos out there about how strict it is, how hard it is to get them. But I’ve witnessed it myself people still getting visas. I don’t know about today I’m talking six months ago. Maybe it’s different now. But again, I’m just telling you what I’ve witnessed. I’ve seen people get retirement visas and they haven’t had all that money in the bank. So if you can pay your way I mean, if you want to stay there I guess like anything, money talks and the other one walks. So as far as visas go, you know. There’s the other thing about having to report to a police station every 90 days. Well, again, I just think the Thai authorities are trying to protect their people. They’re trying to protect the country. They don’t want foreign criminals entering the country. You’ll see they’ll often stop you on a motorbike, in a car I’ve been stopped in a taxi in Bangkok. I was coming home back to Soi 4 from Asok, and the police pulled me over, they searched me, asked me a bunch of questions. But it didn’t bother me. It was a little bit inconvenient, but why would it bother me? I hadn’t done anything wrong. I wasn’t breaking any laws. If I’d been a drugs courier, then I would have been very worried. If I’d had an underage girl with me, again I would have been very worried. But you know, guys, this is why they’re doing it. So this reporting to the police station every 90 days, not being able to buy property there’s people complaining all over YouTube about it. But think about it, guys. You know what I mean? It’s a great country to go to. It’s a great country to visit. And as far as I know, Thailand has never been a colony. They’ve never been you know, France, England, Belgium they’ve never colonized Thailand. In the Second World War, Thailand actually cooperated with Japan, so officially they weren’t a colony then. And they just do things a little bit better. And you know, I kind of admire them for it. Yes, some things are a little bit irritating, some things are a bit annoying, some things are inconvenient. But look how great the country is. Look how much it’s grown.

The Strong Thai Baht and Its Impact on Expats

Now the other thing that people complain about in a big way is the Thai baht is so strong. You know, I’ve seen videos where people say they used to get 76 baht for a pound back in the ’90s and I know that to be true because I used to get 75, 76 baht to a pound, and it was great. Your money went a long way. So people are asking, why is the Thai baht so strong? There’s so many theories out there. I’ve heard English people say it’s because of Brexit. There’s lots of theories. But it’s simple it’s actually simple. I’m not an economist, but even I know. I’ve done a little bit of research. Thailand is the fourth richest country in the world as far as holding foreign currency. They hold more foreign currency than most nations. What that means is the Thai government will back bonds. It’s very, very safe for foreign banks to put their money in Thailand. They can invest their money in Thailand. It’s safe, it’s backed up by the government. And it’s just supply and demand. When the Thai baht is strong, then it’s going to become expensive, and that’s what’s happening now. This is why the exchange rates are very strong and people are not getting the baht they used to get, and your money has to go a lot further. And on top of that, if you’re going out in areas that are designated for tourists I’m not talking about local Thai markets, eating on the street, that sort of thing I’m talking about places like going out down Walking Street in Pattaya, Nana Plaza and you’re buying drinks yeah, it’s expensive. It’s very expensive. But it doesn’t mean you have to live an expensive way in Thailand. You can live a little bit out of town. You can go around local malls. You can eat local food. It doesn’t have to be expensive. But basically, that’s why the Thai baht is very, very strong. Now I’ve noticed it’s crept up a little bit. This morning it’s 39 baht and a few satang. So if it gets to 40, that’s kind of acceptable for me 40 baht for one pound, or 100 pounds for 4,000 baht. Lower than that, it hurts. But I just think really what people are doing now is they just watch what they spend. You know, especially things like girly drinks in the bars. In the old days, if you went into a bar and you bought a girl a drink, it was 40, 50 baht talking years ago when prices were cheap. You didn’t think twice about it. Now they’re ordering two drinks instead of one tequila and Red Bull which is 200 baht, and you’re talking a lot of money. So I just think, I mean, I just would not buy a lady’s drink anymore if they’re too expensive. And I’m not at the end of the day.