changing to combo from 800,000 on retirement visa ?

[Joinaman]

Hi guys, hope someone can help me

I have the 800k in the bank for my retirement renewal in April and will keep as per new rules

But

I would like to change to the combo system, with 65,000 a month into the bank. At least with this i can spend it as i need to i believe, rather than having the lump sum sat there doing nothing

When would i need to start transferring the 65000 a month  ready for next years renewal ?

Would that start 6 months before, which with the 400k in the bank should meet the requirements ?

Asked at I.O office last week but couldn't get an answer, she just kept saying you" ok, you have money" so gave up

Would appreciate any help from you guys, always seem to be a mine of information for thickies like me

[scubascuba3]

you need monthly minimum 33,334 rather than 65k for combo if you have 400,000 in the bank

[Joinaman]

13 minutes ago, scubascuba3 said:

you need monthly minimum 33,334 rather than 65k for combo if you have 400,000 in the bank

that was a quick reply, thanks

33k because with the 400k it make the required 800k ?, based on 12 months of transfers ?

But, if i start in May, the month after my renewal, i would still have 800k in the bank for 3 months, so would this lower the total amount again ?

how would this work, and when would be the best time to start the transfers, which would give me spending money too ?

sorry if im confusing you, i'm confusing myself here

I need to show minimum 800k toal for the full year, with transfers and existing sums, so if i transfer 65k for 6 months, plus the 450k left in the bank, that would exceed the amount, yes/no

would this be acceptable to I.O . The bank book would show the total amounts over the year, but would/could they work it out ok ?

I think i need a beer now , lol

Thanks again, much appreciated

 

Edited February 16, 2019 by Joinaman
spelling

[scubascuba3]

that was a quick reply, thanks
33k because with the 400k it make the required 800k ?, based on how many months of transfers
But, if i start in May, the month after my renewal, i would still have 800k in the bank for 3 months, so would this lower the total amount again ?
how would this work, and when would be the best time to start the transfers, which would give me spending money too ?
sorry if im confusing you, im confusing myself here
I need to show minimum 800k toal for the full year, with transfers and existing sums, so if i transfer 65k for 6 months, plus the 450k left in the bank, that would exceed the amount, yes/no
would this be acceptable to I.O . The bank book would show the total amounts over the year, but would/could they work it out ok ?
I think i need a beer now , lol
Thanks again, much appreciated
 

i had similar questions to you in terms of when to switch, i can't recall getting an answer, hopefully you will

[elviajero]

If you're going to be transferring at least 65K every month you don't need to use the combo method and tie up any money.

 

If you start making 65K transfers each month from February, they should let you change for this years extension.

 

You could apply using the 800K this year and withdraw whatever you want during the next year. If the balance drops below the minimum balances you wont be able to apply using 800K method in 2020. However, if you have 12 months transfers coming in you can still apply using income only (65K+) or the combo method for the 2020 application 

 

I would have two separate bank accounts. One to receive transfers and use for immigration, and one for other monies.

[roger buttmore]

As an example, would a deposit of B200k and transferring B50k per month be acceptable for the combo method? - Or,, is the minimum amount required in a Thai bank to be able to use the combo method B400k?

 

I ask as I don't want or need B65k per month, but happy to accrue funds in the meantime until the minimum is reached.

 

[elviajero]

6 minutes ago, roger buttmore said:

As an example, would a deposit of B200k and transferring B50k per month be acceptable for the combo method? - Or,, is the minimum amount required in a Thai bank to be able to use the combo method B400k?

I believe 400K is the minimum balance, BUT there is one comprehensive report quoting officers in Region 4 that say differently. The jury is still out.

 

9 minutes ago, roger buttmore said:

I ask as I don't want or need B65k per month, but happy to accrue funds in the meantime until the minimum is reached.

At the moment I would assume worst case and accrue at least 400K before the next application.

[Joinaman]

On 2/18/2019 at 2:18 AM, elviajero said:

If you're going to be transferring at least 65K every month you don't need to use the combo method and tie up any money.

 

If you start making 65K transfers each month from February, they should let you change for this years extension.

 

You could apply using the 800K this year and withdraw whatever you want during the next year. If the balance drops below the minimum balances you wont be able to apply using 800K method in 2020. However, if you have 12 months transfers coming in you can still apply using income only (65K+) or the combo method for the 2020 application 

 

I would have two separate bank accounts. One to receive transfers and use for immigration, and one for other monies.

Thanks for this, but still a bit confused

i have the 800k inn the bank and will use this for this years visa in April and will keep it in the bank for the 3 months and then maybe start to use some of the money for living expenses

But, can i then start to transfer 65k a month  for 6 months, plus 400k plus in the bank

would this be acceptable to then claim the combo visa , as this would still have more than 800k over the year

or

do i have to show 12 months of transfers, plus any money in the bank before claiming the combo visa

sorry for being a bit thick but dont want to get it wrong either

thanks

[baggies666]

I have the same as you 800k for April when I go in for my extension, April 2020 I want to use the combo method so I am starting my monthly transfer in April this year so I have at least 12 to show.

 

I planned to take out 400k as soon as I got my extension and just leave 400k there for next year as I feel that there is no need to leave the 800k untouched for a further 3 months as I wont be using 800k option next year.

 

My other option is to start the monthly transfers as planned and also leave the 800k untouched for 3 months to give me the option still next year of doing either full 800k or combo, if I take the 400k out directly after my extension is granted I wont have both options as broken the 3 month after rule, I am thinking of this option so I can see how the rules settle.