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A new visa paperwork problem for some expats?

The Thaiger

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A new visa paperwork problem for some expats? | The Thaiger

We get occasional emails from expats relating their various problems with Immigration as they apply for new visas or renewals. The common thread is that applying for, and renewing visas, is becoming unnecessarily complicated.

This one seems complex. Names have been withheld for privacy.

“I am a British citizen and my baby’s visas were renewed without an issue, but the Thai immigration has caused problems for my wife and wants me to prove that I am married to my Chinese wife so that I can renew her dependent visa for a third year.

The man’s wife and baby are on Dependent visas tied to his ‘Retirement’ visa.

Our marriage certificate is in Chinese so in order to get Immigration to acknowledge our marriage, she now has to go back to China to have our marriage certificate notarised and translated, first in her local home area, then sent to China’s foreign affairs office in Beijing for their stamp, THEN to the Thai embassy in Shanghai for their stamp, THEN to Bangkok for the Chinese embassy’s stamp.

This takes many weeks/months and it’s simply a joke and is ‘mission impossible’ to do.

My wife flew out to China today and I am at home here in Phuket with our 1 year old baby who was born here at the Siriroj Hospital.

The new guy in charge at the local Immigration office has apparently decided that the certified translation from an authorised translator here in Phuket, which was ok in previous years is now NOT recognised or accepted.

We have brought all our money here and own two properties. We have money in the bank, private medical insurance, spend all our money here, our baby was born here, but they have split up the family.?

“I just wondered if anyone else is aware of these changes?”

“It’s crazy to penalise the good, law abiding people and break up a family. I thought once I was on a retirement visa and met all the requirements that all would be ok?! But no.”

“We have been to the Chinese consulate here in Phuket, they cannot help. My wife’s visa runs out in 2 days so she has had to leave….. !?!?

And get this… from last year onwards all Thai embassies in China (Shanghai Beijing Guangzhou, etc) are all saying they need at least one month to process any non-immigrant visas (dependent, business or education visas). Why is it all becoming so complicated?

Not to mention that the months and huge expense wasted every year to do this is staggeringly stupid. We have been hear for years, retired for the last two years and now this paperwork road-block!?!”

PS. I worked and lived in China for over 6 years, and later retired here in Thailand, I have been married for 7 years and my wife and I have been together over 11 years now.

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3 Comments

3 Comments

  1. Avatar

    John

    March 17, 2019 at 3:06 pm

    I feel his pain and it is totally disgraceful what has been going on in Thailand in the last few months. Not that before the treatment was idyllic, but at least one could manage to arrange things in a mutually beneficial way, but now… good Lord!. I believe this will be the year of an exodus of huge proportions of fellow expats to the neighboring countries, which are more reasonable when it comes to visas related issues. I really think that each one of us need to have a plan B, Thailand is no longer welcoming expats but just tourists with a big wallet, the less they interact, the more they pay, the less they stay, the better it is for this vile form of xenophobic conservatism.

  2. Avatar

    Shawn

    March 18, 2019 at 7:09 pm

    Pretty easy to understand. ‘They’​ know the storm is coming. They want westerners out. We are too hard to control and make trouble when pushed too hard.

    Immigration is the easiest way to us out, replacing us with chinese expats and tourists.

  3. Avatar

    Shardsofglass

    March 20, 2019 at 3:08 pm

    What with the dogs, rubbish,fire/smog and immigration, i’m out of here as soon as I can sell my palace,probably never.

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Property

Guaranteed rental returns – Are they real?

The Thaiger

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Guaranteed rental returns – Are they real? | The Thaiger

If you’re looking to invest in overseas property, search the market and it’s not unusual to find condos for sale with guaranteed rental returns of 40%, and some even higher. Yes, it DOES seems too good to be true, but the offers are out there and the packages often come with free legal fees and other such benefits. Clearly, before diving in, you need to seek some expert and professional advice.

So, what is the debate about? And what questions should you ask prior to investing?

Guaranteed rental returns are obviously enticing for investors and purchasers alike, with standard net returns usually being advertised below the 10% mark.

In the opinion of many, this is not a cheap marketing trick. Yes, it does have ‘marketing power’ and it might just be the additional financial package that helps developers and agents clinch the deal. But for the investors, they genuinely are guaranteed a minimum return on their investment. Surely that’s positive. It eases the concerns of investors and keeps the market buoyant. And why wouldn’t buyers prefer to go with the property that guarantees this return, over the property that does not?

Other experts are not so sure. While acknowledging that a rental guarantee clearly offers agents and developers an advantage in marketing and selling, there are voices within the industry that urge caution. There’s a suspicion that developments that come with a guarantee may be overpriced and that the developers may have factored the cost of the guarantee into the actual price of the property that is being offered.

Those that hold this negative opinion about guarantees suggest that a better strategy for any investor might be to really understand the market in which the property is being offered, aim to get the lowest price possible, do the deal and then organise the letting independently.

Other cautious voices wonder if investors aren’t being tantalised with a vision of unrealistic long-term returns. The question that is asked is what happens when the guaranteed period ends? It’s not unknown for the guaranteed period to expire, and for the investor to suddenly realise that the true rental value of the property is much lower than they believed. Rental incomes suddenly drop, and they suddenly realise that they have overpaid into the wrong investment.

But still, many deny that developers overprice properties when offering guarantees. And no matter what, it’s clear that a rental guarantee is important for certain investors who need the security that it offers. And genuinely, it appears that there are some good guarantees out there on the market. So what to do?

The trick is to apply common sense and due diligence to the situation and examine the legal, commercial and financial strength of the guarantee and the market in which it is being offered. Here are some questions worth considering:

Legally, how is the guarantee structured?

Is it underwritten with a contract in which legal recourse is an option, should you not receive the income that is guaranteed? This is clearly important.

Commercially, is the guaranteed rental figure in-line with the rental market in which the property is situated? Basically, are the developers offering you more rental income than is actually achievable in the current market? If they are offering you more, then once the guaranteed period expires, you’ll probably see your returns on investment drop.

Financially, how does the guarantee work?

Is the guaranteed return dependent upon the commercial success of the project?

Some guarantees are based on projected annual revenues and are subject to these revenues being achieved. In other words, if the expected revenues aren’t achieved, the full guaranteed amounts might not be paid to the purchaser.

In addition to this, some guarantees may also come with the proviso that the amount being ‘guaranteed’ is ‘subject to the competency of’ the management of the complex. This may seem vague, but it’s possible that if the expected revenues aren’t achieved, then the blame for this failure is going to be put solely on the management company.

The vagueness of such a ‘competency’ proviso might also be used to cover all manner of issues. For example, is it possible that forecasted rental revenues might fail to materialise, not because of the bad management of a complex, but because the original forecasts were set too high? It might be easy to blame all manner of poor results on the incompetence of how an apartment complex is managed and to do this with no liability.

With this in mind, once again, it’s very important to look at the rental market in which the property is located, and then ask: are the projected annual revenues realistic in the current market? And of course, you will have to do some research on the developers.

Do the developers have a track record of successfully managing properties, renting them out and ensuring that incomes are generated?

If the answer to this is ‘no’, how then will they be able to generate the income that they are guaranteeing? This may be a sign that the property price has been ‘artificially’ increased to cover any foreseen shortfall in future income.

All-in-all, there’s a lot to consider. Guaranteed rental returns do offer investors a level of security, and it is natural for people to feel compelled to buy into them, and yes, there are some good offers on the market. But it’s worth remembering that in the right location, you’ll always be able to rent out a property.

As we always recommend at The Thaiger, do your homework!

To find thousands of available rental properties in Thailand, click HERE.

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News

30 dolphins greet visitors to Similan Islands

Greeley Pulitzer

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30 dolphins greet visitors to Similan Islands | The Thaiger

Tourists were treated to the sight of a school of dolphins in the Similan Islands off the Phang Nga coast on Sunday.

Tour organisers said that around 30 dolphins swam close to the boat six or seven miles offshore, creating excitement for passengers. It was the first time dolphins had been seen in the vicinity since October 15.

The Similan Islands National Park director said they were bottlenose dolphins and were among several species now returning to the area following a five-year closure of the park for environmental rehabilitation. Food is again plentiful there for them, he said.

Tourists are forbidden to feed wildlife lest the free handouts alter the animals’ natural behaviour, and the park’s waters are also very sensitive to contamination from human disease and marine debris, according to the director.

SOURCE: nationthailand.com

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Business

500 people own 36% of equity in Thai companies

Greeley Pulitzer

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500 people own 36% of equity in Thai companies | The Thaiger

Roughly 36% of Thailand’s corporate equity is held by just 500 people, highlighting wealth inequality in the Kingdom, according to a study released by the Bank of Thailand’s research institute.

Each of these 500 amass some 3.1 billion baht (102 million USD) per year in company profits, according to the report from the Puey Ungphakorn Institute for Economic Research. In contrast, average yearly household income in Thailand is around 10,000 USD.

A report out this week from the Economic and Business Research Centre for Reform at Thailand’s Rangsit University also pointed to divisive and polarised politics being another root cause of the economic divide.

Thailand’s private sector is dominated by tycoons running sprawling conglomerates. According to the World Bank, the gap between the mega-wealthy and the rest of the Thai population of 69 million is among the many economic challenges for Thailand. According to Bloomberg, the perception of a divide, exacerbated by an economic slowdown, is a major political fault line.

“Magnates arise in Thailand from institutional factors that privilege certain businesses,” said the executive director of PIER, author of the study.

The institute said Thailand needs to promote competitiveness to reduce profits from monopoly power and bolster entrepreneurship to create a more equitable distribution of corporate wealth.

The research is based on analysis of 2017 Commerce Ministry data on the 2.1 million shareholders in Thai firms, and was funded by the University of California San Diego.

SOURCE: Bangkok Post

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