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Renew Retirement Visa - based on 65K x 12

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I would like to renew my existing retirement visa using the option of having 65,000+ income per month over 12 months.

 

My question is, does it need to be 65K every single month for 12, or should the average income over 12 months be not less than 65K.

Some months i had less than 65K, but other months allot more, however when all 12 months are added together it exceeds 900K income for the year which mean the average monthly was more than 65K.

 

Also what should i ask the bank for when i go get this proof of income doc.

 

Appreciate your help in advance 

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I extended mine for retirement on 19 Mar  using the income method, no embassy letter. It is 65K or more per month for 12 consecutive months and IO office did check and verified this. I use Bangkok bank and had two different letters from them to prove month transfers from outside Thailand. One was to prove ownership of my account and the other listed my monthly FTT deposits with credit advice letters for each deposit attached.  Had my bank book plus proof of my monthly income/pension with me but was not asked to show them. The letters was what the bank insisted what I needed and the IO was OK with it.

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A average income is not allowed for extensions based upon retirement. It has to be at least a total of 65k baht every month.

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With less than 65,000 in the lowest month you should be able to use the combined income + deposit method. If your lowest monthly income was 50,000 and I understand the rules correctly then you should need a deposit of (65,000 - 50,000) x 12 = 180,000. But I am not sure and have no experience with that myself.

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11 minutes ago, Ecosudmon said:

With less than 65,000 in the lowest month you should be able to use the combined income + deposit method. If your lowest monthly income was 50,000 and I understand the rules correctly then you should need a deposit of (65,000 - 50,000) x 12 = 180,000. But I am not sure and have no experience with that myself.

No. Most imm office will not accept.

These threads come up almost daily. Along with the proof money come from overseas.

Eventually all extensions based on retirement will move to money in bank method as imm will make it more difficult. BTW monthly transfers are the most foolish way to bring in money to Thailand. Stick 800k in bank and forget about it. 

Please no mention joke transferwise. 

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26 minutes ago, bkk6060 said:

Why is that?

I did the 800,000 before but decided it was foolish to let the money sit in a foreign bank account.

The 65,000 works fine wire transfer from my home bank takes one day.

Really look into what that costs you over a year. Anyway I don't give a toss. People do there own thing. I bring in green twice a year. Exchange superrich green. Right now I use OFX 20kaud at a time same as transferwise. Have no choice. 

 

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21 hours ago, Ecosudmon said:

With less than 65,000 in the lowest month you should be able to use the combined income + deposit method. If your lowest monthly income was 50,000 and I understand the rules correctly then you should need a deposit of (65,000 - 50,000) x 12 = 180,000. But I am not sure and have no experience with that myself.

I do 50k per month = 600k, and have 200k in a bank account. My IO in P'lok will accept that. 

I don't want to upset him by asking if the 200k can go down to 100k for 7 months of the year!

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Posted (edited)
On 3/30/2020 at 5:25 PM, bkk6060 said:

Why is that?

I did the 800,000 before but decided it was foolish to let the money sit in a foreign bank account.

The 65,000 works fine wire transfer from my home bank takes one day.

Not to mention the little matter of bank fraud which, unfortunately, most of those who sing the praises of the 800k method on here to the highest heavens as if it was the best thing since sliced bread appear to be in complete denial of. Maybe only a small risk but one which, nevertheless, could have particularly dire consequences these days.

 

Up until just over the year ago, the Immigration requirement was to have a minimum 800k deposited in your bank account for only a 3-month seasoning period in advance of a retirement extension application. So, unless you were particularly unlucky and a fraudster struck during this seasoning period, at least you had an opportunity to rectify any consequential shortfall. However, since your bank account is now under the Immigration spotlight year round (800k for 5 months + 400k for the remaining 7 months), such an opportunity is no longer available - meaning that it could be curtains for you as far as future retirement extensions are concerned should a fraudster strike.

 

The 65k monthly transfer method works equally fine for me in identical circumstances to yours! 

Edited by OJAS
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Thank you to everyone for their input.

 

The reason i am not going the 800K in the bank route is because I run a online business and the revenue i generate goes to a overseas bank, and from their i transfer to my kasikorn account to pay the mortgage, car, university fees for daughter and other living expenses. My income is around 70 -100K a month, but some months i did not transfer the full 65K, as I used my debit card to pay for stuff.

 

I will continue to use the income method, and if their is a issue because some months i did not transfer 65K, then i will just use another more convenient, less questions asked method.

 

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I just wrote an extensive report on renewing an O-A Visa based on marriage. Apparently it was not accepted by TV but nonetheless I did make reference to how they calculated my monthly deposits. I was missing a foreign deposit in December. She added up all deposits and divided by 12 and then stated why are you changing over to Visa based on marriage when you have more than enough to renew your O-A. I said for insurance reasons.

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36 minutes ago, streetlite said:

I just wrote an extensive report on renewing an O-A Visa based on marriage. Apparently it was not accepted by TV but nonetheless I did make reference to how they calculated my monthly deposits. I was missing a foreign deposit in December. She added up all deposits and divided by 12 and then stated why are you changing over to Visa based on marriage when you have more than enough to renew your O-A. I said for insurance reasons.

A OA visa is only issued for retirement. You apparently had a entry from a OA visa that you extended based upon marriage instead of retirement.

For a extension based upon marriage a average income of 40k baht over a year is allowed but not for an extension based upon retirement.

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]\OK heres one for you-----Have been in Thailand 13 yrs and have always had 800000 in bank so no trouble getting visa  however I renewed my passport in 2017 and they gave me OA which I immediately changed back to my 800,000 method so no problems again,Now I just went to get new Visa and was told rules changed and I have to go back to OA again and as I do not have 65,000 going into my bank I had to give him 18,000 and he would give me what I wanted,my visa based on the 800,000.He also said this would happen now every yr for me.I think I have been the victim of a gigantic fraud

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41 minutes ago, biplanebluey said:

]\OK heres one for you-----Have been in Thailand 13 yrs and have always had 800000 in bank so no trouble getting visa  however I renewed my passport in 2017 and they gave me OA which I immediately changed back to my 800,000 method so no problems again,Now I just went to get new Visa and was told rules changed and I have to go back to OA again and as I do not have 65,000 going into my bank I had to give him 18,000 and he would give me what I wanted,my visa based on the 800,000.He also said this would happen now every yr for me.I think I have been the victim of a gigantic fraud

I don't understand what you are trying to say.

The visa you used to get the permit to stay you have been extending does not change ever unless you go to an embassy or consulate to apply for the visa.

It is  the same financial requirements for an extension based upon retirement for a non-oa visa or non-o visa entry.

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17 hours ago, OJAS said:

Not to mention the little matter of bank fraud which, unfortunately, most of those who sing the praises of the 800k method on here to the highest heavens as if it was the best thing since sliced bread appear to be in complete denial of. Maybe only a small risk but one which, nevertheless, could have particularly dire consequences these days.

 

Up until just over the year ago, the Immigration requirement was to have a minimum 800k deposited in your bank account for only a 3-month seasoning period in advance of a retirement extension application. So, unless you were particularly unlucky and a fraudster struck during this seasoning period, at least you had an opportunity to rectify any consequential shortfall. However, since your bank account is now under the Immigration spotlight year round (800k for 5 months + 400k for the remaining 7 months), such an opportunity is no longer available - meaning that it could be curtains for you as far as future retirement extensions are concerned should a fraudster strike.

 

The 65k monthly transfer method works equally fine for me in identical circumstances to yours! 

You seem a bit paranoid.

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