Retirement Visa

[Ian Curtis]

Yo,

I seem to get conflicting stories about my Pension. Some people say that it must be paid into a Thai Bank and some say that it's OK if it goes to my UK bank?

Has anyone satisfied Immigration for the Retirement non-O Immigrant Visa with their pension going to a UK bank?

Cheers

Ia Curtis

[dutch]

I received a confirmation letter from my embassy about my annual income.

No mentioning in what bank.(my pension is from Holland).

I think you need to prove, (later on), that you have a minimum income of 800.000 baht /year IN Thailand. That is what your Thai bank letter will state.

How you arrange your taxes is another matter.

[caughtintheact]

One of the requirement is that each time you renew your visa you must present a letter to Immigration from a bank IN Thailand showing the amount in your account. The immigration people are not interested in how much you have in a bank abroad, only that you have enough money in Thailand (or coming into Thailand, in the case of a monthly pension).

"some say that it's OK if it goes to my UK bank" - I wouldn't try telling immigration that. If you are still not sure, why don't you go to Immigration and get a copy of the rules (which are also posted numerous times in this forum) or you can look at the rules at

http://www.imm3.police.go.th/eng/application.html

Application for further stay to spend the remainder of life in the Kingdom of Thailand

1. Immigration form 7 (Tor Mor 7)

2. Copy of passport

3. 4 cm. x 6 cm. photograph

4. 1,900 bath application fee

5. Financial Evidence:

- Bank account pass-book, bank statement

- Evidence showing reception of pension accompanied with Thai translation certified by the embassy or consulate of the country paying the pension

- Evidence presenting other sources of income or evidence of money transferred from overseas

6. In cases of having dependents (husband/wife, children), the applicant must provide evidence indication their relationship. Evidence must be translated into Thai and be certified by the embassy or consulate of the aliens.

7. Health Certificate for those who apply for further stay after Nov. 14,2002.

8. The officials reserve the rights to examine or ask for additional documents, if necessary.

- The Health Certificate must indicate that the applicant does not have the following

serious diseases:

1. Leprosy

2. Turberculosis, TB

3. Elaphantiasis, Filariesis

4. Addiction, drug

5. Alcoholism

6. Syphilis

[lopburi3]

Keep it going to your UK bank. When you need here in Thailand have a wire transfer done. Set up procedure prior to leaving UK so that you can do with fax or phone call. Only at renewal time is 800k required in your Thai bank account but it looks good if you use on a regular basis and top up a few times each year.

[muenwai2]

Ian,

It is not clear if you are talking about obtaining the retirement visa or extending your stay after 12 months

To initially obtain an O-A visa based on pension alone you do not need to have transferred any money into Thailand. You will need a letter from your pension provider (to obtain O-A in London) or letter from embassy (easy) if you are converting to O-A in Bangkok.

After obtaining the visa you must either arrange direct payment of your pension into a Thai bank account (easiest I suggest) or arrange monthly wire transfer into your Thai bank from your UK bank (more hassle in my opinion). Obviously the latter would be the only option if you only wished to transfer 65000 THB/month and keep the balance of your pension in the UK - I assume this is the reason behind your post..

Alternatively you could build up the pension in your UK bank and transfer 800000THB prior to extending your visa after 12 months but I see no point in the latter (other han you will save on UK bank charges) because, as Lopburi suggests, you will be asked to show how you have supported yourself over the previous 12 months i.e. they will suspect you have been working. In this instance ATM slips showing regular withdrawals in Thailand from a UK bank a/c may suffice.

[lopburi3]

Ian,

It is not clear if you are talking about obtaining the retirement visa or extending your stay after 12 months

To initially obtain an O-A visa based on pension alone you do not need to have transferred any money into Thailand. You will need a letter from your pension provider (to obtain O-A in London) or letter from embassy (easy) if you are converting to O-A in Bangkok.

After obtaining the visa you must either arrange direct payment of your pension into a Thai bank account (easiest I suggest) or arrange monthly wire transfer into your Thai bank from your UK bank (more hassle in my opinion). Obviously the latter would be the only option if you only wished to transfer 65000 THB/month and keep the balance of your pension in the UK - I assume this is the reason behind your post..

Alternatively you could build up the pension in your UK bank and transfer 800000THB prior to extending your visa after 12 months but I see no point in the latter (other han you will save on UK bank charges) because, as Lopburi suggests, you will be asked to show how you have supported yourself over the previous 12 months i.e. they will suspect you have been working. In this instance ATM slips showing regular withdrawals in Thailand from a UK bank a/c may suffice.

<{POST_SNAPBACK}>

In general it is best not to deposit money directly into any Thai bank account for tax reasons. Although UK probably has a treaty covering pension income some countries will not. Much better to bring in savings earned in a previous year for that reason.

Second reason for not using monthly transfers is the cost - do not believe many foreign banks can deposit directly without using SWIFT and that usually costs a far amount for each transaction so better to have a few large ones than a number of small transfers.

[muenwai2]

Lopburi 3. I agree with your second point re bank charges (see remark in my previous reply) however if someone is relying on extending a visa based on monthly pension surely immigration will require to see monthly transfers in a Thai bank passbook. Or am I wrong? I hope I am wrong (but fear I'm not) because I am ripped off every 4 weeks with a high bank charge and poor exchange rate.

I believe you are correct ALL UK banks transfer using SWIFT although my pension provider uses Bank of Scotland which uses something called indirect TAPS (SWIFT by any other name).

There is indeed a double taxation agreement UK-Thailand. Former civil servants can have their pension paid into a Thai bank without deduction of UK tax but theoretically are subject to Thai tax.

All other pensions (i.e. for those who actually worked for a living) are paid after deduction of UK tax. Theoretically gross pension should be declared to Thai tax authorities and an assessment made of what tax would have been paid were the gross pension earned in Thailand: any difference between that and the UK tax actually paid is payable to Thai tax authorities. But find me one person who bothers or has been who has been approached by Thai tax authorities. So I suggest your first point is irrelevant.