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BANGKOK 19 February 2019 01:09
Leslie850

Retirement Visa Problem Solved 100% Legal

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 I read with delight the reply' on this post, I have complied with the rules enforced, what I need to show and what I need to live on are two different things, yes their would be costs involved with this method, show me a way where you have no costs, we all have to live with the necessary evil of bank transfers Agents, you now run the risk of inspection of your bank account, how would you explain that? Thailand does not do Free.

i love this country its rules regulations, Thailand will always belong to Thailand. The U.K. Belongs to every other country but England, The USA is owned by China, Russia. We all come here for a better life, I have got that here dispite the new imposed rules, My glass is always half full.

 

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Maybe not "illegal" per se, but it's certainly not an efficient, long term strategy.

 

If I was in OP's shoes and had the 65k/mo but didn't need it all, I would accrue the unused, monthly surplus here, ideally in another account with marginally better interest rate. 

 

20k/mo surplus would result in a 400k lump sum in less than 2 years.  That opens a 3rd path to the OP for annual extensions. 

 

Then go ahead and reduce monthly inbound transfers to the lesser, 45k amount.   Or keep going and build the fund up to 800k in another 20 months. 

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28 minutes ago, Lloydyboy said:

I don’t see why a person from one country can just show certified income letter and one from another country has to bring in THB 65,000 every month whether needed or not.

Indeed, the word "income" is quite sufficient in an embassy letter. It was very poor form of the embassies to accept these new rules if they were only targeted at certain countries - they should have refused and sent immigration back to instigate these rule changes themselves in a fair and consistent manner. I wouldn't be surprised if they were hoodwinked. 

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2 hours ago, lamyai3 said:

Yes, seasoning was brought in to attempt to stop this (at one time there was no seasoning at all on the 800k), but it could still have been done perhaps up to three times a year. I'm just pushing the same idea to it's absurd conclusion regarding income recycling, though as has been mentioned it wouldn't be genuine income.

if no pension or source of "income" is needed, other than FTT notations in a bankbook, then nothing stopping a group of setting up an account in lao/cambo with several thousand baht equivalent in us$.

 

each one can use the lao/cambo bank to swift 65k worth of us$ to their thai bank every month.  every 90 days one of them can do a border run and redeposit the unused funds.

 

no forex fees and potentially only one-way xfer fees.  heck, if they set up a business in lao/cambo they can actually pay themselves income as online consultants.

 

don't think there's anything illegal in this, if all the requirements are met and nothing is forged.

 

 

Edited by ChouDoufu

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2 hours ago, Crossy said:

If you import 65,000 as required and only spend 45,000 then that's 20,000 per month you can place in an alternate account. After only 40 months you'll have the 800,000 needed to extend on that basis and can import whatever you like 🙂

 

And he's been here 6 years - 72 months - at 20k a month, should have a nice little bank balance to cover everything!

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1 hour ago, ChouDoufu said:

no forex fees and potentially only one-way xfer fees.  heck, if they set up a business in lao/cambo they can actually pay themselves income as online consultants.

No Forex fee to send money to Thailand and they are coded FTT? How is the currency fluctuations in Cambodia? 

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2 hours ago, elviajero said:

What job would that be? He’s a moderator and I have no interest in being one.

 

His job is not to answer the trolls trolling me. His job is to delete pointless posts like yours and this reply to it!

Your abuse is out of order. UJ always gives correct visa info, you dont.

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ARRRRRRRRRRRRRRRRRRGH- can the Mods please put a limit of 20 different threads on this topic!!!

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1 hour ago, lamyai3 said:

Indeed, the word "income" is quite sufficient in an embassy letter. It was very poor form of the embassies to accept these new rules if they were only targeted at certain countries - they should have refused and sent immigration back to instigate these rule changes themselves in a fair and consistent manner. I wouldn't be surprised if they were hoodwinked. 

Where did you get the info that TI instructed the 4  embassy's to stop issuing income letters?

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10 minutes ago, onera1961 said:

No Forex fee to send money to Thailand and they are coded FTT? How is the currency fluctuations in Cambodia? 

us$ accounts in cambo and in thailand.   why change to baht if immigration will accept foreign currency accounts?  they only change what they need for living.

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3 minutes ago, Psimbo said:

ARRRRRRRRRRRRRRRRRRGH- can the Mods please put a limit of 20 different threads on this topic!!!

We're bored, OK?

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12 hours ago, Peterw42 said:

In theory you could avoid both, have the money in a foreign currency account in Thailand (accepable to immigration) no exchange losses sending pounds/dollars back and forth, set up accounts with someone like citibank who do free transfers between citibank accounts across borders.

My io told me that an FCD account was unacceptable had to be in Thai baht its seems to be up to the discretion of your local io

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4 minutes ago, Psimbo said:

ARRRRRRRRRRRRRRRRRRGH- can the Mods please put a limit of 20 different threads on this topic!!!

would the 20-topic limit proposal constitute a separate topic?

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11 minutes ago, indepth said:

Your abuse is out of order. UJ always gives correct visa info, you dont.

What abuse would that be.

 

No he doesn’t. He nearly always gives correct visa info.

 

Give me an example of incorrect advice I’ve given, I’m always happy to learn.

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4 hours ago, scotinsiam said:

The issue also seems (according to other threads and immigration documents provided to the person who opened the thread) to be that when using the income method - from 2020 the money must be from a pension and also verified by your Embassy which some Embassies have already stopped doing.

 

What a cluster&^*k - I do use the money in the bank method but this is still annoying as no doubt the 800k figure will increase.

 

 

The information that poster was given by his IO was incorrect as regards income method. they apparently have not seen the police order on income method verification. Or else have decided on their own to disregard it. That order was specifically issued to address the fact that soem Embassies have stopped doing income letters. It makes it very clear that in the absence of an Embassy letter, n]bank statement showing monthly trabsfer of 65k baht each month fro mabroad will be acceppted. It does nto have to coem from a pension. Just needs to come from aborad.

 

See also this thread

And the amendment to police order 138/2557 a link to which is posted here as item no 16:

https://forum.thaivisa.com/topic/981135-laws-regulations-police-orders-etc/

 

 

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