Jump to content
BANGKOK 17 February 2019 12:18
LawrenceN

Report: Successful retirement extension using monthly income, no consul letter

Recommended Posts

AAAAGH! Which was is it? Many folks here are sharing their success with the written rule for 65,000 monthly transfer yet you make this statement. Maybe the rules haven't "jelled" enough with all TI?
 
Also, I'm not sure if I read where anyone used the combo method. What is needed for that? For instance, I don't want to deposit 800,000 in a bank over there (but might to make life easier). I plan on spending far less than 65,000 a month and don't want the remained that's not spent to sit there and accumulate as for the same reason I don't want to 800,000 in a bank. US citizens are required to report to the govt any account(s) with over $10,000 US dollars in it overseas. By spending less than the 65,000 per month it'll grow to over $10,000(US) quickly. I am not interested in transferring the excess out of the country for personal reasons.  
 
What is truly needed for the combo option if known? Thanks!


Just stating the facts from my experience. Just goes to show that not all IO’s or offices are in the same page as yet. Its a developing story.


Sent from my iPad using Thailand Forum - Thaivisa mobile app

Share this post


Link to post
Share on other sites
6 hours ago, Olmate said:

Your ok Jack, usual escape clause! I’m sure everyone appreciates your in put, albeit very one sided.

Thanks -- Nice to hear your one side that it was the intent of the 40/65K monthly income program that not one baht of that money might need be actually spent in Thailand but, after it is deposited and resident in the Thai bank account for a few milliseconds, it can be shipped in whole back to its country of origin.

Edited by JLCrab

Share this post


Link to post
Share on other sites

So the transfer records were important and necessary, but are they Sufficient? But what about people that don't have pensions?  Will the transfers be enough "proof" or are they going to want some sort if indication of the source of those incomes, prior to them being transferred to Thailand, i.e. dividend and interest from stock and equity holdings, rental income, business royalties, or whatever?

  • Like 1

Share this post


Link to post
Share on other sites
29 minutes ago, gk10002000 said:

Will the transfers be enough "proof" or are they going to want some sort if indication of the source of those incomes, prior to them being transferred to Thailand, i.e. dividend and interest from stock and equity holdings, rental income, business royalties, or whatever?

I would say that an IMM officer always has the right to ask for corroborating information or documents just as they did with the prior embassy income affidavit regime.

Share this post


Link to post
Share on other sites
On 1/15/2019 at 8:33 PM, Pib said:

And a report I'm looking forward to is where some one goes in with a year's worth of bank statement which show 12 Transferwise transfers say for 65K, but they are not coded as international transfers (just domestic transfers); however, the applicant also includes 12 Transferwise receipts which match up to the 12 transfers reflected on the bank statement.

Thanks. I was just trying to find out from Transferwise how the deposits are coded. What do the receipts say?

  • Like 1

Share this post


Link to post
Share on other sites

I get different answers to the "combo" method (monthly transfer plus money in a Thai bank). What really are the rules? Can a person have 200,000 baht in a bank and receive 55,000 baht transfers each month? If that sort of thing is still ok then what sort of documentation does a person need to provide to TI? Thanks! 

Edited by ubonjoe
removed quote of a removed post and a comment about it

Share this post


Link to post
Share on other sites
1 minute ago, ubonjoe said:

And now some replies to those removed posts have been removed.

Ubon - Why did you remove the posts of the decent exchange I was having with JLCrab? 

Share this post


Link to post
Share on other sites

I used the consulate letter along with showing proof of my monthly pension funds being deposited into a US bank.  I was issued my one year extension.  

 

I asked the immigration officer about what will be required next year since the consulate in their infinite wisdom has decided not to issue income verification letters anymore.  The officer said no ones knows yet.  

 

I couldn't help notice the dwindling numbers of foreigners lined up for their one year extensions.  I believe immigration is being successful in weeding out the people who are unable to meet the monthly financial threshold.   The next group to go will be the people who won't buy into depositing their monthly income or depositing 800,000 baht into a Thai bank just to qualify for a one year extension.

 

I think by this time next year, CM Immigration staff will be sitting in their immigration complex looking at each other wondering when they will be laid off due to most of the foreigners having moved to greener pastures.

 

As soon as their Thai bank deposit requirement starts, this will the end of Thailand, being touted as one of the top retirement destinations for foreigners. 😞  

 

  

 

 

Share this post


Link to post
Share on other sites
8 minutes ago, HuskerDo said:

I get different answers to the "combo" method (monthly transfer plus money in a Thai bank). What really are the rules? Can a person have 200,000 baht in a bank and receive 55,000 baht transfers each month? If that sort of thing is still ok then what sort of documentation does a person need to provide to TI? Thanks! 

Not hard to do and what you wrote appears to be correct and it exceeds the minimum total of annual income and money in the bank of 800k baht required. To prove it you show proof of the money in the bank bay way of a letter from the bank and a bank book showing it has been in the bank for 3 months and proof of the 55k baht going in to a Thai bank for 12 months.

Share this post


Link to post
Share on other sites
7 minutes ago, HuskerDo said:

Ubon - Why did you remove the posts of the decent exchange I was having with JLCrab? 

Because you quoted a post that had already been removed. That can happen when wait too long to post the reply..

  • Like 1

Share this post


Link to post
Share on other sites
2 minutes ago, CMNightRider said:

I used the consulate letter along with showing proof of my monthly pension funds being deposited into a US bank.  I was issued my one year extension.  

 

I asked the immigration officer about what will be required next year since the consulate in their infinite wisdom has decided not to issue income verification letters anymore.  The officer said no ones knows yet.  

 

I couldn't help notice the dwindling numbers of foreigners lined up for their one year extensions.  I believe immigration is being successful in weeding out the people who are unable to meet the monthly financial threshold.   The next group to go will be the people who won't buy into depositing their monthly income or depositing 800,000 baht into a Thai bank just to qualify for a one year extension.

 

I think by this time next year, CM Immigration staff will be sitting in their immigration complex looking at each other wondering when they will be laid off due to most of the foreigners having moved to greener pastures.

 

As soon as their Thai bank deposit requirement starts, this will the end of Thailand, being touted as one of the top retirement destinations for foreigners. 😞  

 

  

 

 

Thanks NightRider. I suspected the same. I have a friend that was sitting in the managers office at Bangkok Bank one day and she said his phone was ringing off the hook. She said it was a bunch of folks calling to ask why their social security hasn't been posted to their account. What they failed to pay attention to was there was a holiday that week which pushed things back a day. My friend noted there were a LOT of folks that only had SS for their income and it wasn't much (maybe $1200 US a month). I now feel for those folks as they can no longer stay in Thailand and can't afford to live back home. What will happen to them is yet to see. 

Share this post


Link to post
Share on other sites
10 minutes ago, ubonjoe said:

Not hard to do and what you wrote appears to be correct and it exceeds the minimum total of annual income and money in the bank of 800k baht required. To prove it you show proof of the money in the bank bay way of a letter from the bank and a bank book showing it has been in the bank for 3 months and proof of the 55k baht going in to a Thai bank for 12 months.

OH! Sounds easy enough. Thanks Ubon!! I'm assuming that ALL TI understands that or is it still a work in progress now?

Share this post


Link to post
Share on other sites
9 minutes ago, ubonjoe said:

Because you quoted a post that had already been removed. That can happen when wait too long to post the reply..

Got it. Thanks!!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...