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BANGKOK 19 January 2019 07:32
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CONFIRMED: Here is exactly what’s needed for retirement & marriage extensions (income method) from 2019

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7 minutes ago, khm2412 said:

I currently have my company pension paid into a UK bank account every month.  I then use Transferwise to transfer some of that money direct into my Thai bank account with Kasikorn. Presumably this method will no long work for the income method.  I could of course arrange transfer direct to my Thai bank account for my pension, but then I would suffer from the poorer exchange rates offered by Kasikorn, when compared to Transferwise.  Would a solution be to open a foreign currency account here in £ sterling and then use Transferwise to convert £ into Baht when the exchange rate is favourable?  Thank you for your replies.

Check out the other ongoing thread specifically about Kasikorn as it appears there may be some light at the end of the tunnel there.

 

Re. a FCD account, I understand that there is a cost to bring in GBP, and then Transferwise wouldn't be available to you from there, so you'd still be at the mercy of the Thai banks poor Fx rate. 

Edited by steve73
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29 minutes ago, steve73 said:

Check out the other ongoing thread specifically about Kasikorn as it appears there may be some light at the end of the tunnel there.

 

I can only say that that is one crazy thread where Transferwise said that the money is not transferred from overseas but the people there are wrapping their heads around it that it is.  Please tell me I am wrong.

 

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2 minutes ago, farangx said:

I can only say that that is one crazy thread where Transferwise said that the money is not transferred from overseas but the people there are wrapping their heads around it that it is.  Please tell me I am wrong.

 

What’s crazy about it?

People who bank with Kasikorn and send money Internationally via TW are attempting to find a way forward as to show proof to TI in the future. 

People are going out on a limb to discuss with Kasikorn to help themselves and others and you think that’s crazy?

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3 hours ago, Kadilo said:
3 hours ago, JLCrab said:

UK Stop1.png

For goodness sake put the trumpet away. We get the picture. 

Thank you.  I was just noting that the UK Embassy-Bangkok seemed to be heads up on this one with the above graphic on their website 8 OCT 2018 almost 3 weeks before the Yanks got around to it.

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1 hour ago, Kadilo said:
1 hour ago, farangx said:

I can only say that that is one crazy thread where Transferwise said that the money is not transferred from overseas but the people there are wrapping their heads around it that it is.  Please tell me I am wrong.

 

What’s crazy about it?

People who bank with Kasikorn and send money Internationally via TW are attempting to find a way forward as to show proof to TI in the future. 

People are going out on a limb to discuss with Kasikorn to help themselves and others and you think that’s crazy?

I did no ask if it was crazy.  I asked if I am wrong.

 

Edited by farangx

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I did no ask if it was crazy.  I asked if I am wrong.
 


Yes, you are wrong. It’s not a crazy thread, and the the transfers do come from overseas.

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3 hours ago, JackThompson said:

I would not recommend trying to stay 7 mo/yr on Tourist entries, unless using law-abiding land-borders (all but Poipet/Aranya) to enter Thailand - exclusively.  

Even after the 5-mo out, some IO making up their own rules at a Bangkok airport could make problems upon return, based on saying the previous year's stay was "too long" - then stamp your passport as not having money (even if you are rich).  This has low odds, based on current reports, but snowbirds have reported this there.  It might get better or worse in coming years, but the trend is progressively worse.

Thanks for your comment @steve73. I agree with @JackThompson. Having been on a retirement extension for a few years I dont want to have to muck about doing border runs etc. Its not a case of that I dont have 65k per month, I do but I dont want to move my money into Thailand all year. I am one of these people who are asset rich but cash poor. House bought and paid for outright in UK and house (via wife) bought and paid for in Thailand. I dont want to go down the marriage extension route. So its either agent 12,900 THB all in or Non OA from UK 8,200 approx for 2 years, a bit of a hastle but doable.

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1 minute ago, ubonjoe said:

Why? It not as hard as you might of heard. I am on my 11th one I can say that from personal experience.

Thanks UJ. I have thought about it. Its not the difficulty, but still the involvement of sending 40k a month into Thailand or 400k in the bank. I think its going to be the Non OA, I have until May 2020 to decide. There will be many months of people's experience by then.

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That is new to me.  Proof of receiving Bt800,000 in a single year is all I know.  My reason for harping on the "The Combo" method is that on the surface it looks like a credible way to obtain a Retirement visa.  You would need to show that you have been receiving cash from a retirement fund or better I think from your home country into either a home country bank a/c or a Thai Bank A/c.  Then beg steal or borrow the other funds perhaps Bt300,000 to make it up to Bt800,000 received in a single year (easy for Aussies as shown in my previous example post).  It might take a year to get that far, so if you haven't started showing proof that you received Bt800,000 in a single year,  you better get cracking.
i don't think you are right. Maybe someone can arbitrate? If you "retire" a month before you apply you aren't going to be able to show 12 months of income. Personally when i go for my new application I'll make 3 months of 65k payments. If it fails not the end of the world, ways round it

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irrelevant. If you read the new requirements its from when you "retire". Of course you could just put in 800k in to be sure


Or you could just transfer 65k a month.

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Or you could just transfer 65k a month.

yes but for new applications 65k a month for the previous 12 months isn't required

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2 hours ago, mogandave said:

 


Yes, you are wrong. It’s not a crazy thread, and the the transfers do come from overseas.
 

Quote

We transfer funds locally they are coming from our local Thai bank account

&

In case you would need the funds to arrive internationally then we would not be able to help.

The above was the reply given by the company.  Does it say the transfers do come from overseas?

 

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1 hour ago, ubonjoe said:

Why? It is not as hard as you might of heard. I am on my 11th one I can say that from personal experience.

I'd agree with Ubonjoe, the first one felt overwhelming, but the second time everything was pretty much smooth. Hoping that my next one (3rd year) is as smooth, now doing the 400K route, so only one visit to the bank, not a visit to the US Embassy for an income letter, and another to MFA for their stamp. I just wish I didn't have to get the passbook and letter on the day I have to go to the Immigration Office, at least the Income Letter was good for 6 months.

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The above was the reply given by the company.  Does it say the transfers do come from overseas?
 


Regardless of what is or is not said, overseas transfers (by definition) come from overseas.
  • Haha 1

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