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BANGKOK 27 May 2019 12:36
lscottbutler

Retirement Visa / Monthly Deposit into a Thai Bank.

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No. the 800k must be in a Thai bank in Thailand and not in a foreign country.

 

 

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6 hours ago, ubonjoe said:

Not sure where you came up with 6 months for the "leniency" clause. There is no set number for it.

In theory a person would only need 2 or 3 months of transfers if they were being lenient. Since the rules state only one transfer is needed for a new application it is even possible a office would accept that for a extension done this year.

Only 1 month? That's too easy. What if the following months, there were only transfers for 5 months instead of 12 months? 

 

Yes, there are people recycling part of the money.

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Posted (edited)

 IWhen is the cut off day to have the 800,000 baht in a Thai Bank?   ---Visa Expires on August 8th, 2019-- 90 days prior to my visa expiration date??

And do we know exactly what the 800K requirements are in terms of how long they can't be touched?

Under the old rules it was 90 days before the actual renewal date, not the expiration date. That’s how Chang Wattana worked at least...

 So under the new rules I would assume it is counted back from the renewal date too ?

 Which brings up the matter of the post renewal period .... do you have to keep the 800k in the bank for 3 months from the renewal date or the day the new extension starts ? If you renew early there can be nearly a month difference in the date.

 

Edited by MikeN

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5 minutes ago, EricTh said:

Only 1 month? That's too easy. What if the following months, there were only transfers for 5 months instead of 12 months? 

There would be no check that funds were coming into the country until the next extension application. If less than 12 months was shown then the application would not be accepted. 

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OK, I'm a bit confused. Canada still issues the required income verification letter. Must I also bring BBK bank statements for the preceding 12 months showing deposits of 65K B for each month when applying for my next extension in August? Probably advisable to have them available if not a requirement. Thoughts?

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While the letter instructed IOs they could be "lenient" regarding less than a full 12 months of transfers there have been reports of some offices (inc Jomtien) refusing ot accept less than 12 full months.

 

So if your plan is to try based on 6 months, have a fall back plan and leave yourself enough time to enact it.

 

One alternative you did nto mention is to do a SWIFT transfer from a US account to your Thai account each month. These can be costly (anywhere from $20 - $60 with $40-45 being most common) but are sure and always coded as international transfers.  To be doubly protected, get a copy of the "Credit Advice" after each transfer, most banks will provide these free of charge for at least a few months after the transfer comes in.

 

Personally if I were you, I would put aside 800K for this year's extension and then work on getting 12 65L international transfers documented in time for the next.  This should be risk proof, if you can afford to do it.  Note that you will have to keep the money unspent for at least 3 months after the extension date and spend not more than half of it thereafter until the time of next extension i.e. even if switching then to the income method you'll need to have maintained the balance of 800 x 3 months then 400 x 9 months or risk having next extension denied.

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6 minutes ago, Headgame said:

OK, I'm a bit confused. Canada still issues the required income verification letter. Must I also bring BBK bank statements for the preceding 12 months showing deposits of 65K B for each month when applying for my next extension in August? Probably advisable to have them available if not a requirement. Thoughts?

You may be asked to show the pension or funds as described on the Canadian Embassy letter of income.

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19 minutes ago, Headgame said:

OK, I'm a bit confused. Canada still issues the required income verification letter. Must I also bring BBK bank statements for the preceding 12 months showing deposits of 65K B for each month when applying for my next extension in August? Probably advisable to have them available if not a requirement. Thoughts?

You will not need to show the funds going into a Thai bank.

You might be asked for backup proof for your statutory declaration.

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46 minutes ago, ubonjoe said:

If they refuse less than 12 months have you seen any reports where phoning the hotline IO has achieved any change.? Not this subject, but any other topic.? I have never read any reports where someone has phoned and reported the outcome.

 

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Is there a separate memorandum for lieniency based on new marriage visa based on the direct deposit of 40,000 or more pfir a number if months or is all covered by the memorandum above?

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16 hours ago, DrJack54 said:

I'm just a mug. Not expert. 

Here is what I plan. Put the 800k into a Thai bank. Some say 2 month before some say 3. Play it safe. 3.

Keep untouched for next 3 month. Then not below 400k till your next extension. Personally given risk if messing up dates, I'm putting 800+ into term deposit and leaving it. Extensions simple till Thai imm next bull#### rule change. Thinking some folk are overlooking income method problems. Rogue imm offices to name one. So many threads about transfer wise, mainly USA folk. Don't be surprised if imm want other "stuff", such as pension letter from home country etc. Play it safe if you can afford it.

am with you +1

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16 minutes ago, Danthai said:

Is there a separate memorandum for lieniency based on new marriage visa based on the direct deposit of 40,000 or more pfir a number if months or is all covered by the memorandum above?

One memo for both.

The memo is not for a new extension since that is covered under the amendment to the police for order. It is for those on extensions already and are doing it for the first time under the new rules for income proof.

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47 minutes ago, ubonjoe said:

You will not need to show the funds going into a Thai bank.

You might be asked for backup proof for your statutory declaration.

OK, that makes sense. Always be prepared. 
Thanks Joe.

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As an individual they will not open any form of BKB account overseas. Fullstop

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2 hours ago, Sheryl said:

 

 

Personally if I were you, I would put aside 800K for this year's extension and then work on getting 12 65L international transfers documented in time for the next.  This should be risk proof, if you can afford to do it.  Note that you will have to keep the money unspent for at least 3 months after the extension date and spend not more than half of it thereafter until the time of next extension i.e. even if switching then to the income method you'll need to have maintained the balance of 800 x 3 months then 400 x 9 months or risk having next extension denied.

Perfect explanation and the best advise to get thru all this.

 

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