Is Thai Dividend Income Okay For The 800K?

[DividendGuy]

I earn income from Thai dividends (NVDR) stocks. I pay withholding taxes of 10 percent on all shares through my Thai Tax ID number that shows the 10 percent is always pre-deducted. I receive a dividend letter from Thailand Securities Depository Company (TSD) that shows all of the stated financial (10 percent) deductions, taxes and payment from each Thai stock company. Can I use this Thai dividend money to fund the Bt800K now required by Thai Immigration for my Thai Retirement Extension?

 

[Sheryl]

You can use anything. There is no requirement as to source of the 800K. It is only with the 65k/month income method that it has to be shown as coming in from abroad.

 

But the 800K will need to be in a regular Thai bank account not brokerage account.

[DividendGuy]

Thanks Sheryl.

 

You have made my day.

[elviajero]

Funds are supposed to originate from abroad even though they don’t — as a rule — ask for proof when applying for an extension.

 

Even if they did want to know the source of the 800K I don’t see why they wouldn’t accept proof of the Thai dividend.

[Estrada]

I tried this tack a few years ago. A senior immigration officer at CW Bangkok told me that they were not interested in evidence of money or dividend payments from the Thai Stock Exchange, only that I had B800K in a Thai Bank Account. He told me that the reason was that I could lose all the money on the stock exchange tomorrow. He also told me they prefer the money is in a Time Deposit account so that they can be sure that the account has not dipped below that amount in the 2 month aging period as savings accounts if used frequently can have a consolidated print out on update that does not show all the withdrawals in between. I did not have to show money coming in from overseas as they have my records which show that I have been based here since 1994 even though I spent 11 years mainly working overseas.

[khunPer]

14 hours ago, elviajero said:

Funds are supposed to originate from abroad even though they don’t — as a rule — ask for proof when applying for an extension.

 

Even if they did want to know the source of the 800K I don’t see why they wouldn’t accept proof of the Thai dividend.

There are no requirements for proof of origin for the 800k baht deposit, and that's also why many of us have been able to shop around for best fixed long-term interest rates.

 

However if you use the income method with 65k baht a month, it's (to my knowledge) required to be overseas income.

 

You cannot use value of Thai stock portfolio or value of Thai Fund Books (mutual funds) for the 800k deposit, as stocks and funds are considered speculation that can change in value; a decade ago you could however use Fund Books at some immigration offices (I talk from experience).

 

As retired you can live of income from Thai investments, like dividends from SET stocks, or other investment outcome, but then you need to also have a bank deposit of 800k baht.

 

In other words, if you in any way can afford the 800k deposit, it makes life more hassle-free; at least concerning extension of stay in the Kingdom...????