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BANGKOK 20 March 2019 09:48
Jonathan Fairfield

Holding the balance: Phuket Immigration clarifies new rules on retirement visas to start March 1

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“Under the income requirement, applicants must receive at least B65,000 per month,” Col Acheep explained.

As many embassies no longer issue affidavits confirming income, this is no longer required, he said, noting that letters from governments and pension fund providers will be accepted along with other forms of evidence to prove the income pending.

 

“Of course any financial statements from banks and copies of bankbook records proving this income already being received should be provided,” he said.


Read more at https://www.thephuketnews.com/holding-the-balance- phuket-immigration-clarifies-new-rules-on-retirement-visas-to-start-march-1-70401.php#qFDrdIdC5SewFzHi.99

 

So from my perspective in trying to qualify for the 65k per month method I can provide the required evidence, which was a worry because they have been ''fickle" in that area.

 

Not decided yet as to follow that route or the 800k route. For me it depends upon whether or not I can get an automatic transfer of funds from my NZ bank, so trying Transferwise under an automatic payment schedule if poss.

 

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4 minutes ago, Christophers200 said:

It applies to you -- Open the link and read the whole report.

I did open the link - so my previous rules regarding 800k are not grandfathered only those from before the 800k was introduced

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Unsure if this article/interview really clarifies rules :unsure:

Reading it, it looks like those who still use an embassy's income letter

now need to show "bankbook records proving this income already being received [in a Thai bank]" ?? :unsure:

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8 minutes ago, Pattaya46 said:

Unsure if this article/interview really clarifies rules :unsure:

Reading it, it looks like those who still use an embassy's income letter

now need to show "bankbook records proving this income already being received [in a Thai bank]" ?? :unsure:

No one need Embassy/Consulate letter no more in Phuket, that what Phuket Immigration says.

If u are from Norway or Sweden they also have to show bank account even though have have a pension letter (State pensjon). What going to happen is that these consulates will be closed down.

Edited by nasa123
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15 minutes ago, smedly said:

The only issue I have is keeping the balance at 800k for 6 months instead of 3, the rest I was doing anyway

 

I fail to see any practical advantage of the 6month balance of 800k - what is the point of it

800K two months before and 3 months after = 5 months. The point of it is to (maybe) identify those who pay agents for the loan and at a cost. I understand that borrrowing money is not a crime, but the interest cost of holding it a further 3 months (=c.10k extra at c.5%) will adversely affect some who do not have the necessary funds.

 

But that does seem unfair and heavy-handed. From the article, you could still use the combination method, if that's a better option and probably that flexibility will become the most favoured.

For example, 400k stuck in a Thai bank account for one year, earning interest of 8k, plus income of 33k per month sent to a Thai bank account. 

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54 minutes ago, xylophone said:

along with other forms of evidence to prove the income pending.

Which, hopefully, will, in the case of Phuketians at least, include TransferWise confirmations demonstrating the foreign provenance of >65k monthly transfers which have not been coded FTT or similar in the passbook.

Edited by OJAS
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