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Tanoshi

Marriage/Retirement - Interpretations explained.

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Did they clarify how/when they would check the 800k post extension and 400k until 3 months prior to the next?

 

I'm assuming it'll be done to satisfy the NEXT extension.

This means we'll need 12 (or 13+*) months of bank statements when applying for each successive extension.  Or you need to keep your bank book fully up to date.  (I normally just update mine once per year immediately prior to my extension with the so far 3 month statement.)

 

* If you do your extension this year 30/45 days early, and then next year do it on the due day then 13 months or more will have passed. 

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I don't suppose you asked them to clarify the reason for leaving 400K in the bank ? I know many are assuming it is to cover any medical bills, but what happens if it is and then you do use it for a hospital bill, or whatever its supposed use is?

If it is just dead money they might as well just charge us 400,000baht for a visa and be done with it.

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7 minutes ago, Tanoshi said:

Correct. Income letter from Embassy, OR, bank statements + letter from bank.

 

Bahnet is the system used when deposits go through the Bank of Thailand before reaching your local account.

Yes they regarded that as proof of foreign income.

In fact the example they showed used the Bahtnet code, but had the full name of the payee, in this case a private pension provider.

 

If using bank statements, then the source of the deposit is paramount.

It must come from overseas (unless earned in Thailand, that would be proven by tax receipts).

 

The Embassy letters only certify your annual/monthly income with proof shown to the Embassy.

The Embassy letter isn't proof your transferring the funds. No proof requested so far by Immigration in that respect.

Still unclear on the last question regarding source of funds.  I do understand the paramount importance of the money being deposited coming from overseas, but did you understand them to care that it came only from a pension?  If I do not have a pension but I can transfer the required amount monthly to Thailand does it matter that the source of that income is from investments and not from a fixed pension?  I am going to be able to show investment accounts and statements showing transfers from those foreign (outside Thailand) investment accounts to Thailand, but they are not ultimately coming from a pension.  I'm never going to be able to show a letter that states what my income is for the year.  Is that required or is it enough to have the proper monthly deposits (marked with international codes) coming into my Thai bank account?

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18 minutes ago, brokenbone said:

400k in bank + embassy income letter =400k+ is enough ?

 

can i use the bank money during the year ?

I assume you mean using the combo method for a retirement extension?

No, you couldn't withdraw any of the 400K if your income was only 40K per month.

You must maintain a balance of 800K by way of funds/income throughout the year.

 

If however your income was 45K per month, then;

Funds deposited of 400K + income of 45K per month.

Funds and income total 940K per annum.

After the seasoning period you can withdraw 140K.

Income of 45K x 12 = 540K + 400K funds = 940K, the difference being 140K above 800K available to withdraw.

 

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9 minutes ago, Tanoshi said:
26 minutes ago, skatewash said:

I'm hoping this is meant to be obvious but it's one or the other right?  1 or 2?  Not both?

 

In other words, the embassy letter route remains for those who can obtain one, and for those who can't the monthly deposit route is acceptable without one?

Correct. Income letter from Embassy, OR, bank statements + letter from bank.

Thanks for info, I was worried but by the info you have shared this year I will be ok.

 

However.. reading the post above, next year should I want to do a combo method of 

300,000 in the bank plus

tot in letter of income plus

difference in monthly deposits

 in your opinion would it be possibile?  

Thanks

 

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9 minutes ago, Tanoshi said:

I assume you mean using the combo method for a retirement extension?

No, you couldn't withdraw any of the 400K if your income was only 40K per month.

You must maintain a balance of 800K by way of funds/income throughout the year.

 

If however your income was 45K per month, then;

Funds deposited of 400K + income of 45K per month.

Funds and income total 940K per annum.

After the seasoning period you can withdraw 140K.

Income of 45K x 12 = 540K + 400K funds = 940K, the difference being 140K above 800K available to withdraw.

 

thanks, that leaves me with just one question:

do i have to prove i transfer my pension to thailand ?

and can the IO deny my extension by demanding never-ending proofs as far as creativity last until my visa expire  next month ?

Edited by brokenbone

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2 minutes ago, skatewash said:

Still unclear on the last question regarding source of funds.  I do understand the paramount importance of the money being deposited coming from overseas, but did you understand them to care that it came only from a pension?  If I do not have a pension but I can transfer the required amount monthly to Thailand does it matter that the source of that income is from investments and not from a fixed pension?  I am going to be able to show investment accounts and statements showing transfers from those foreign (outside Thailand) investment accounts to Thailand, but they are not ultimately coming from a pension.  I'm never going to be able to show a letter that states what my income is for the year.  Is that required or is it enough to have the proper monthly deposits (marked with international codes) coming into my Thai bank account?

Sorry, I'll rephrase.

The source of the deposits - from overseas, the source of the income (private/company, government state pensions, investments, dividends, - immaterial)

There looking for FTT or BTN codes, although some deposits gave more information of the payee on the HQ statements.

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4 minutes ago, brokenbone said:

do i have to prove i transfer my pension to thailand ?

and can the IO deny my extension by demanding never-ending proofs as far as creativity last until my visa expire  next month ?

Yes, deposits from overseas should record as FTT or BTN depending on the method you use to transfer your funds.

 

As long as your Thai bank statements are clear, no further evidence should be required, but if they had a query, they could always ask for additional proof in the form of a UK bank statement, or receipt of transfer from another organisation.

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2 minutes ago, Tanoshi said:

Yes, deposits from overseas should record as FTT or BTN depending on the method you use to transfer your funds.

 

As long as your Thai bank statements are clear, no further evidence should be required, but if they had a query, they could always ask for additional proof in the form of a UK bank statement, or receipt of transfer from another organisation.

i transfer myself, but not monthly, i transfer 100k as needed

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21 minutes ago, bigginhill said:

Thanks for info, I was worried but by the info you have shared this year I will be ok.

 

However.. reading the post above, next year should I want to do a combo method of 

300,000 in the bank plus

tot in letter of income plus

difference in monthly deposits

 in your opinion would it be possibile?  

Thanks

 

If you had 300K deposited in a Thai bank, then you'd need to prove a minimum income of 42k per month throughout the year.

You couldn't withdraw any of the 300K.

 

You should be wary of exchange fluctuations throughout the months as well, if working near to the bone.

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2 hours ago, Delight said:

Did you perhaps ask a Q pertaining to my 'Too much Money' post

i.e wishing to move from an immigration extension to a marriage extension  when my bank balance may show 2 Million Baht ?

Why on earth would it be too much and moreso why would u ask a question like that? Wind up?

 

The only greif you will get is the IO grumbling about doing all the extra paper work when you qualify for retirement. And why would you?

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