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Tanoshi

Marriage/Retirement - Interpretations explained.

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4 minutes ago, Sheryl said:

However he seems to be saying that 800K has to be maintained in the account year round. That is very hard to understand. Not only is it much more restrictive than the 800K lump sum requirement but for most people it would mean never spending your income.

At next renewal, they'll review the funds deposited in the bank, and transfers of income totalling 800K throughout the year.

You can spend the income, you may also be able to spend some of the funds.

The transfers of income are only used as a calculating figure against funds held in the bank.

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2 minutes ago, Tanoshi said:

At next renewal, they'll review the funds deposited in the bank, and transfers of income totalling 800K throughout the year.

You can spend the income, you may also be able to spend some of the funds.

The transfers of income are only used as a calculating figure against funds held in the bank.

You mean immigration is bright enough to calculate interest? 

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1 minute ago, Tanoshi said:

At next renewal, they'll review the funds deposited in the bank, and transfers of income totalling 800K throughout the year.

You can spend the income, you may also be able to spend some of the funds.

The transfers of income are only used as a calculating figure against funds held in the bank.

OK so just to be clear: In combo method you do not need to maintain a cash balance of 800K at all times, in fact you never need a cash balance of 800k. But you need to maintain in the bank at all times a sum equal to 800k minus your monthly income over the past 12 months.

 

Yes?

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22 minutes ago, Sheryl said:

However he seems to be saying that 800K has to be maintained in the account year round. That is very hard to understand. Not only is it much more restrictive than the 800K lump sum requirement but for most people it would mean never spending your income.

 

In addition, if you have 800K seasoned 3 months in advance, account never dropping below 800K then it is the 800k method already and not a combo method!

 

Something is wrong here....

From the OP.. "The important factor for the combo method is that funds deposited and income must not fall below the 800,000 requirement for the year."

 

I understand this to mean if you have a regular income of 40k/mon (480kper year), you need only maintain 320k in deposited funds to remain above the 800k for the entire year, which is clearly less onerous than maintaining 800/400k all year (plus additional cash needed for living expenses for the first/last 3 months).

 

But obviously it will depend how each Imm. Officer chooses to interpret the rules.

Edited by steve73
bold text highighted.
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41 minutes ago, dick turpin said:

(4) At least 2 months prior to filing date, and at least 3 months after being granted permission, the alien must have fund deposited in a bank in Thailand of no less than THB 800,000. The alien can withdraw the fund 3 months after being granted permission and the remaining balance must be no less than THB 400,00 or;

 

This is how it is stated in the original police order, makes no reference to first time or subsequent extensions.....had already decided to stick with the three month pre-seasoning to be on the safe side. 

No, that's not the original order. Your quoting from new order 35/2562.

 

The original order 327/2557 stated;

(4) On the filing date, the applicant must have funds deposited in a bank in Thailand of no
less than Baht 800,000 for the past three months. For the first year only, the applicant must
have proof of a deposit account in which said amount of funds has been maintained for no
less than 60 days prior to the filing date: 

 

The new order 35/2562 isn't replacing order 327/2557 as I assumed, it's in addition to and amends changes to 327/2557.

Read the 2 orders together as one and it becomes clearer.

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1 minute ago, Sheryl said:

There is no provision allowing use of those funds for any purpose. You spend it and you may be denied your next year's extension.

 

I very much doubt the reasoning had anything to do with covering medical bills.  If this were the reason, they's also require a 400K bond from those on the income method, but they do not.

Yes, in this respect it seems the clear intent here is to impose strict monetary standards and strict compliance of those standards presumably in an effort to weed out those without the financial standing to comply.

 

Truly seems to be a thinning of the herd with the have-nots being singled out,

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5 minutes ago, Sheryl said:

OK so just to be clear: In combo method you do not need to maintain a cash balance of 800K at all times, in fact you never need a cash balance of 800k. But you need to maintain in the bank at all times a sum equal to 800k minus your monthly income over the past 12 months.

 

Yes?

Sheryl will say it is bad for me but I am  going to have another beer.:drunk:

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2 minutes ago, steve73 said:

I understand this to mean if you have a regular income of 40k/mon (480kper year), you need only maintain 320k in deposited funds to remain above the 800k for the entire year, which is clearly less onerous than maintaining 800/400k all year (plus additional cash needed for living expenses for the first/last 3 months).

Yes, you can spend the income part, just as you can if using income only method.

Only the figures of income, not the income itself is used to maintain the 800K balance throughout the year.

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2 hours ago, DrJack54 said:

Thanks OP, good report. I'm in the money in bank method retirement. 

I would suggest that I won't be the only one now electing to just put 800k in a bank account and leaving it. With all the dates of 800 for this period and 400 for that.....I realize it ain't rocket science but one could easily make a calendar error. I feel for those that were just able to meet previous requirements and now this does tie up more funds. Perhaps funds some don't have. Anyway it is what it is. BTW any suggestions for a bank offering OK fixed term. My light blue bank is rubbish bank.

I've been looking around and the best I have found is 2.15% for a 48 month  FD at Krung Sri.

 

Of interest to those worried about what would happen in an emergency with their funds tied up, they state that these deposits can be used as collateral to access a loan fro mtheir bank. (That part is probably true elsewhere as well).

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Never raised the issue, why give them cause to close a potential loophole for some.
Of course. I thought they may have brought it up

Sent from my SM-J730GM using Thailand Forum - Thaivisa mobile app

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2 minutes ago, Tanoshi said:

Yes, you can spend the income part, just as you can if using income only method.

Only the figures of income, not the income itself is used to maintain the 800K balance throughout the year.

Thanks, it is clear now. (And interestingly different from all of the various theories TV members have come up with as to what that part of the police order meant!).

 

Thank you very much for doing this, Tanoshi.

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26 minutes ago, Tanoshi said:

Using the income or combo method it is monthly deposits of ……...

 

If you get quarterly payments, it's up to you to adjust the monthly deposits from overseas.

Averages of monthly are not acceptable.

Pity... you could cut down on transfer fees if depositing quarterly... or alternatively optimize Fx rates by sending more when rates are in your favour.  I'll be doing my extension in the next week or two, and may ask for clarification unless they are busy.

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Using the income or combo method it is monthly deposits of ……...
 
If you get quarterly payments, it's up to you to adjust the monthly deposits from overseas.
Averages of monthly are not acceptable.
So say on the retirement combo method I bring in 40k every month, totalling 480k....just before I go for my 12 month extension I top up with and extra 320k in the bank. Is this acceptable or is there seasoning on the combo method and do I still need 400k year round?

Sent from my SM-J730GM using Thailand Forum - Thaivisa mobile app

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13 minutes ago, Sheryl said:

There is no provision allowing use of those funds for any purpose. You spend it and you may be denied your next year's extension.

That's dependant on your amount of income, as detailed in my examples in post 1.

 

 

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