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

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On 1/7/2019 at 4:15 AM, taichiplanet said:

the heading is misleading as it is not exactly what is needed for these 'visas', it is only exactly what is needed if you are using the income method. We are still presuming that the money in a bank account method remains the same.

 

On 1/7/2019 at 4:16 AM, DrJack54 said:

So the existing "money in Thai bank" 800/400, still continues and the changes only concern expats using "income, combo"?

BTW...personally I use money in the bank. I would not be happy now showing monthly income. Like many others, I have income from rentals, super/shares etc. Do not qualify for pension, because of super fund/assets. Would certainly not like the changes to replace embassy SD.

Do I understand it right. We have the choice of leaving the 800/400 on the Thai account or need to proof retirement for 65K. Because I do not have much retirement and will not have ever, but will have no problems to leave the 800 on the account and bring extra money in every year. I am lost now. I can't proof 65k retirement. If so, I could still staying in the US or go back to Germany. Thats why I want move to live on $1000 a month, not $2000 here in Florida. Any advice?

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Do I understand it right. We have the choice of leaving the 800/400 on the Thai account or need to proof retirement for 65K. Because I do not have much retirement and will not have ever, but will have no problems to leave the 800 on the account and bring extra money in every year. I am lost now. I can't proof 65k retirement. If so, I could still staying in the US or go back to Germany. Thats why I want move to live on $1000 a month, not $2000 here in Florida. Any advice?

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On 1/7/2019 at 4:32 AM, ocddave said:

Its confusing though, as this letter shows 2.18 and 2.22 (changes), and gives reasons/documents/procedures. Is there a 2.XX that states the 400K/800K that would not be affected by this notice? Because if the 400K/800K is part of 2.18 or 2.22, then this letter/memo looks a little scary.

Do I understand it right? We have the choice of leaving the 800/400 on the Thai account or need to proof retirement for 65K. Because I do not have much retirement and will not have ever, but will have no problems to leave the 800 on the account and bring extra money in every year. I am lost now. I can't proof 65k retirement. If so, I could still staying in the US or go back to Germany. Thats why I want move to live on $1000 a month, not $2000 here in Florida. Any advice?

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15 minutes ago, zolanana said:

Do I understand it right. We have the choice of leaving the 800/400 on the Thai account or need to proof retirement for 65K. Because I do not have much retirement and will not have ever, but will have no problems to leave the 800 on the account and bring extra money in every year. I am lost now. I can't proof 65k retirement. If so, I could still staying in the US or go back to Germany. Thats why I want move to live on $1000 a month, not $2000 here in Florida. Any advice?

Visa based on retirement are called a non o. You can obtain that in a thai consulate. That is a 90 day visa. Before it expires you apply at immigration office in Thailand for 12 month "permission of stay". The financial requirements for that vary. One of which is " money in a Thai bank" another is "monthly income from abroad" and also combination of those to show a minimum required amount. Personally I use money in thai bank. You then apply for subsequent 12 month stays every year. Easy

Edited by DrJack54
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On 1/7/2019 at 5:08 AM, DrJack54 said:

Not easy. I'm not going to sidetrack this thread, except to say I bing in aud cash in one or two hits every year. I'm aware of various ways to transfer money. The best is to bring in cash and exchange here. Only suited to those that have reason to visit home country.

But if you don't have the income? Because you know you can live on less than 65K a month in Thailand, but not in US or Germany. Thats why you want to move to Thailand. That don't make any sense for me now :O(

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20 minutes ago, zolanana said:

Do I understand it right? We have the choice of leaving the 800/400 on the Thai account or need to proof retirement for 65K

Yes.  You can transfer 800K Baht from your country to a Thai bank, then apply for your 1-year extensions using that "money in the bank" to support the financial requirements.  You will not need to show income also. 

 

20 minutes ago, zolanana said:

Thats why I want move to live on $1000 a month, not $2000 here in Florida.

8 minutes ago, zolanana said:

But if you don't have the income? Because you know you can live on less than 65K a month in Thailand, but not in US or Germany. Thats why you want to move to Thailand. That don't make any sense for me now :O(

Of course.  It's why 90%+ expats live here.  Your 800K+ "in the bank" means you don't need to show/prove income.

 

The crazy high income-requirement (if not using "money in the bank") is based on a wish that only rich people would retire here, when they could just - as you point out - retire in a more developed country.

 

18 minutes ago, DrJack54 said:

Visa based on retirement are called a non o. You can obtain that in a thai consulate. That is a 90 day visa.

They will not get this Visa in the USA any more - but could get one in Savannakhet, Laos.  They could also come in on a Tourist Visa, then get a "Non-O Stamp" from some immigration-offices within Thailand. 

 

It would be best to start off living in Bangkok during a "Non-O Stamp" step, given some other offices make it difficult or impossible to obtain (why many end up going to Savannakhet). 

Edited by JackThompson
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15 minutes ago, zolanana said:

But if you don't have the income? Because you know you can live on less than 65K a month in Thailand, but not in US or Germany. Thats why you want to move to Thailand. That don't make any sense for me now :O(

True but those are the rules. If you have 25k USD then stick it in Thai bank and leave it. No need to show income. And yes you could scrape by on your 1000usd a month. Good luck. Remember the 25large in your Thai bank is yours. You can even get tiny interest on it. Maybe 1.5%. Every year you just obtain 12 month extension and show your bank book. 25usd isn't a lot to have in Thai bank.

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On 1/7/2019 at 5:15 PM, taichiplanet said:

the heading is misleading as it is not exactly what is needed for these 'visas', it is only exactly what is needed if you are using the income method. We are still presuming that the money in a bank account method remains the same.

First time here. I am married to a Thai national and living in Australia. If we choose to retire in Thailand is the single Australian pension enough (about $900 per fortnight) Do I need 65,000 baht per month or 40,000 per month and do I need to have 800,000 in a Thai bank? I've read these posts and I'm none the wiser.

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8 minutes ago, Bugsy777 said:

First time here. I am married to a Thai national and living in Australia. If we choose to retire in Thailand is the single Australian pension enough (about $900 per fortnight) Do I need 65,000 baht per month or 40,000 per month and do I need to have 800,000 in a Thai bank? I've read these posts and I'm none the wiser.

If you are married you need either 400k in a thai bank or a monthly income of 40,000. Your $900 a fortnight is just enough, at current rates.

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8 minutes ago, Bugsy777 said:

First time here. I am married to a Thai national and living in Australia. If we choose to retire in Thailand is the single Australian pension enough (about $900 per fortnight) Do I need 65,000 baht per month or 40,000 per month and do I need to have 800,000 in a Thai bank? I've read these posts and I'm none the wiser.

Mate your married but on a single pension? You can get OAMulti retirement at Canberra Embassy with combo income and bank deposit in Oz with equal to 800k baht ,good for 2 yrs. here you.ll need either 40/65kmonthly into Thailand bank or have 400/800 in Thai bank, depending if you extend as retiree or marriage. 

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10 hours ago, Henryford said:

If you are married you need either 400k in a thai bank or a monthly income of 40,000. Your $900 a fortnight is just enough, at current rates.

Thanks Henryford. I can easily keep 400k in a Thai bank so does that mean that the single pension isn't needed or doesn't matter or can I do a combination pension and savings?

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10 hours ago, Olmate said:

Mate your married but on a single pension? You can get OAMulti retirement at Canberra Embassy with combo income and bank deposit in Oz with equal to 800k baht ,good for 2 yrs. here you.ll need either 40/65kmonthly into Thailand bank or have 400/800 in Thai bank, depending if you extend as retiree or marriage. 

Not on the pension yet. Still working but trying to get my head around this so that we can plan. What do you mean 400/800? Is it 400 or 800. I was going to buy a place but I don't want to end up not being able to stay there and then maybe not be able to sell it.

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400k married, 800k single.

One should also assume it will increase at some point, so saving additional funds for when it is does would be a good idea...

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10 hours ago, Bugsy777 said:

Thanks Henryford. I can easily keep 400k in a Thai bank so does that mean that the single pension isn't needed or doesn't matter or can I do a combination pension and savings? 

If you keep the 400k in the bank the income isn't needed. If you can easily afford that i wouldn't bother with any comination methods.

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11 hours ago, Bugsy777 said:

Not on the pension yet. Still working but trying to get my head around this so that we can plan. What do you mean 400/800? Is it 400 or 800. I was going to buy a place but I don't want to end up not being able to stay there and then maybe not be able to sell it.

your married you won’t get single pension even if living in Thailand, so it’s married rate of Aus pension, not sure what that is so guessing about 30k baht month...bit light on if only income.?

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