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BANGKOK 25 April 2019 00:48
JohnnyBD

Switching from bank method to income method

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Posted (edited)

Hi Ubonjoe,

Instead of sending you a private message, I thought this question would interest others too, so I posted. I am currently using the 800k method for my extensions based on retirement. I will renew in Sep 2019 again using the 800k and was planning to ask IM the rules for switching to income method. I thought you may know already. Do you think I will need to keep 800k in the bank for 3 mths after my extension is approved and also keep 400k in the bank until my Sep 2020 extension is approved. I guess that would be the safest way. I will start my monthly transfers in Sep 2019, so I will have 12 months of transfers prior to my Sep 2020 renewal. What do you think?

Kind regards, JohnnyBD

Edited by JohnnyBD

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Your plans to change to the income option will not change the requirements to keep 800k/400k baht in the bank.

It is not defined yet what the punishment will be for not maintaining the funds in the bank will be but it appears your next extension application would not be accepted forcing you to leave the country to start all over again.

My suggestion would be to start sending the 65 baht into your account now and try to do the extension based upon income. Immigration offices should accept less than one year of income this year according to a directive sent to them.

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Phuket has already said they want full 12 months even though suppose to accept less this 1st year, so does this means if you dont have the time to make enough monthly payments or imm does not accept less months you have to keep both going and change on the following extension?

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1 hour ago, baggies666 said:

Phuket has already said they want full 12 months even though suppose to accept less this 1st year, so does this means if you dont have the time to make enough monthly payments or imm does not accept less months you have to keep both going and change on the following extension?

Phuket is already known for having odd requirements. Best to leave them out of the discussion unless you are living there. Also what they say may not really be what is done.

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I am living there, I am due next month and would only have 4 monthly payments so I think wont be able to change this extension

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Posted (edited)

Just out of interest how are you intending to "prove" your 65k comes from abroad each month.

Edited by Henryford

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46 minutes ago, baggies666 said:

I am living there, I am due next month and would only have 4 monthly payments so I think wont be able to change this extension

You should at least try. If you talk to one of the volunteers just ignore them and ask to talk to a supervisor to answer your questions.

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2 minutes ago, Henryford said:

Just out of interest how are you intending to "prove" your 65k comes from abroad each month.

Bank statement showing international transfers or a bank book with a code that proves it was an international transfer.

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3 minutes ago, Henryford said:

Just out of interest how are you intending to "prove" your 65k comes from abroad each month.

The money has arrived fine 3 times already to bb with the correct codes so this part I am not worried about

 

@ubonjoe I will gather all the information and ask on extension so far only been able to talk to volunteer & read whats on website  thanks

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I have a slightly different opinion.

In 2020 you'll have to provide either proof of funds in the bank, or, an income of 65K monthly.

When you renew in Sept 2019, provided you then transfer 65K per month throughout the year, that will be accepted for the 2020 application.

Having to prove both, is not only a double whammy, but TI will probably extend again using the funds, because it's easier to check and your then stuck in a never ending circle.

The time to change method should be when renewing your extension this year.

 

Only your own Immigration office can confirm, as nothing covers this scenario in the orders.

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40 minutes ago, Tanoshi said:

I have a slightly different opinion.

In 2020 you'll have to provide either proof of funds in the bank, or, an income of 65K monthly.

When you renew in Sept 2019, provided you then transfer 65K per month throughout the year, that will be accepted for the 2020 application.

Having to prove both, is not only a double whammy, but TI will probably extend again using the funds, because it's easier to check and your then stuck in a never ending circle.

The time to change method should be when renewing your extension this year.

 

Only your own Immigration office can confirm, as nothing covers this scenario in the orders.

It's what I will be looking at doing and all being well will have 6 months of qualifying income when renewal is due in September. This is in one of the northern problem offices. It will be the 17 consecutive extension of stay but the first attempt at using income from abroad.

 

 

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I am going back to the multi entry visa that way I will leave the Kingdom every 90 days and take a mini break in neighbouring countries as I believe this is just the start , next year there will be further requirements I would rather spend the money than have it tied up in a Thai bank account when there is so much uncertainty ,the time has come for all of us to open our eyes and look to see what’s on the other side of the fence the pastures could be a lot greener and more welcoming.

 

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4 hours ago, baggies666 said:

The money has arrived fine 3 times already to bb with the correct codes so this part I am not worried about

If you're using TransferWise, though, you'll probably need to keep your fingers firmly crossed that the 4th transfer will be similarly coded. Strikes me that you'll already have more than enough on your plate in attempting to convince the rogue officers in Phuket without having an incorrect coding thrown into the mix!

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4 hours ago, baggies666 said:

The money has arrived fine 3 times already to bb with the correct codes so this part I am not worried about

 

@ubonjoe I will gather all the information and ask on extension so far only been able to talk to volunteer & read whats on website  thanks

Keep an eye on your BB statements, all my TW transfers were sent direct to them except for December's which went via TMB, so it isn't foolproof.

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7 hours ago, ubonjoe said:

Immigration offices should accept less than one year of income this year according to a directive sent to them.

Is a copy of the directive available to download?

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