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BANGKOK 18 March 2019 21:28

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I have been doing income verification for retirement extension past several years. I'll be 55 years old when my extension comes up in June. How long to season the 800k for first time use under new rules? Not sure I can get it in time for 3 months if that is the rule. If so, what are my options?

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If your income verification was genuine then you have no problem. You can use bank statements. 

If not a go then you need show 800k method. If not possible consider agent. Might add perhaps agent might not be ongoing future years. Basically seems you need meet new requirements

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I should have said I have been using income declaration from the US Embassy, not income verification.

 

So, for my first time 800k in bank how long season?

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2 minutes ago, elviajero said:

2 months for the 800K.

 

If you start monthly transfers of at least 65K pm now, they should let you apply based on income with proof of those transfers.

 

Or you could use the combo method and put 400K in the bank for 2 months prior to applying, and transfer at least 34K pm.

Okay, so first time using 800k in bank I have to season 2 months? Correct?

Edited by Coconut Kidd

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3 minutes ago, Coconut Kidd said:

Okay, so first time using 800k in bank I have to season 2 months? Correct?

Yep

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3 minutes ago, Coconut Kidd said:

Okay, so first time using 800k in bank I have to season 2 months? Correct?

It is nebulous. Do you whatever you could and report us what you find out from IO. You could use an agents in the first year if denied for some reason. But from the next year, start bringing 65k/month or season at least 400K for the entire year and 800K for the three months prior to your application, though the police order says three months but you never know what IOs want. 

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I see it now in the new order:

 

  1. 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 that THB 800k.

 

Yes, the IO can do what they wish, but this^^ seem pretty concrete.

 

I do however appreciate your thoughts.

 

 

 

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If there is now a requirement to leave a minimum 400K baht in the bank and never be able to withdraw the money. Why would someone want to have to show 65K baht a month going into a Thai bank account? Or leave 800K in the bank for six months? Wouldn't the combination method be the best option? That is only going to require 33,334 baht a month deposit. I can meet the 800K or the 65K a month option. But why, when I will only have to deposit 33,334 baht a month. Am I missing something?

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16 minutes ago, mercman24 said:

such a stupid ruling,

 

The rule seems to be stupid for 4 nationalities.

 

Being Belgian, I don't have to have anything on a Thai bank account, neither a specific amount to be transfered.

 

At least as per today.

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1 hour ago, Longcut said:

If there is now a requirement to leave a minimum 400K baht in the bank and never be able to withdraw the money. Why would someone want to have to show 65K baht a month going into a Thai bank account? Or leave 800K in the bank for six months? Wouldn't the combination method be the best option? That is only going to require 33,334 baht a month deposit. I can meet the 800K or the 65K a month option. But why, when I will only have to deposit 33,334 baht a month. Am I missing something?

It depends on how much you need to live on, is Bht 33,334 enough?

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11 minutes ago, wgdanson said:

It depends on how much you need to live on, is Bht 33,334 enough?

I normally live on more. But, I am just looking to not keep depositing more in my Thai account than I need. I would much rather have it deposited in my stateside bank. I may be wrong about this either way. Is someone required to maintain a balance of 400K baht in the bank even if they are doing the 65K a month income method? This is where I am not clear.

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