onera1961

1 hour ago, Longcut said:

65,000 baht a month income or 800,000 baht deposited in a Thai bank.

Here is the line that says it all. It has to be deposited in a Thai bank. 65,000 baht a monthly income (deposited in a Thai bank) or 800,000 baht deposited in a Thai bank

1 hour ago, GeorgeCross said:

is that with or without an embassy letter?

Without embassy letter

On 10/29/2018 at 11:48 AM, NCC1701A said:

and so you know, I am not even writing these comments, my staff is, I just approve them.

My stuff in Philippines from her virtual office ???? while I am drinking pina colada on the beach

On 10/29/2018 at 4:09 AM, kenk24 said:

Does anyone know if a personal tax statement, a tax return, which shows your income for the year would qualify as proof... what would be more proof than that?

It can be faked easily. Only solution is money in the bank. 65K/month

On 10/29/2018 at 5:53 AM, marcusarelus said:

I stand corrected.  I estimated 3 people.  But there are more people living here from paycheck to paycheck that I would have ever imagined.  I don't buy the, "my millions of dollars are invested or I don't trust Thai banks" excuse because it's not rational.  If you don't put the 800 the bank it's because you can't.  Many more folks than i thought. 

Some people are even reluctant to put 65K/month if that's what TI settles on because their income is so complex that they cant's even put 65k/month. It just boggles my mind. They will settle on nothing but the old system (embassy affidavit) which no country in the World entertains as a valid source of proof of stable income. 

On 10/28/2018 at 10:27 AM, NCC1701A said:

The Chinese are stepping in to grab up everything. And the Thais will keep over building which is good for me as it keeps rents low for decades to come.

Chinese tour buses are now seen in front of new Condo sales offices in Jomiten. They are gobbling up E1 visas in the US, and Portugal/Spain golden visas for a foothold in Europe. While the super rich goes to Singapore for their investment visa, poor upper middle class Chinese shop for their visas in the USA/Europe. 

8 minutes ago, HooHaa said:

If the Thai government agrees to accept original documentation of income you have all saved a step. 

I don't think TI will accept original documentation. It is also easy to fake when people can fake SS card and Passport and bills, The only easy solution is to see the money in the bank. I don't understand why people are reluctant to show 65K in the bank. Do they want the same thing to continue to avoid any disruption in their plan to stay in Thailand?

12 minutes ago, lamyai3 said:

Anyone who has trouble with this line of thinking might want to ask themselves just how much is their wife or girlfriend ramping up their budget?

If wife is not ramping up the budget why do you think wife will stay with someone 20 years younger than her? She should get some benefits for staying with a person 20 years younger than her? And if she is not doing for any benefits, she is definitely not ramping up the budget

6 hours ago, fforest1 said:

Yea put the screws to some one and blacklist them for life because they were a little short of the 65,000 and had to take other measures....

Then here is always the Agent system one can use to circumvent that. You're advocating for people who have less money than stipulated requirements (65K) and engaged in round robin game. Why not then use an agent? Agent system is still live and kicking. 

14 minutes ago, evadgib said:

Grant PR & grandfather it to married/retired extn holders who have lived trouble-free in the kingdom for at least 3 years.

I don't like grandfathering for single persons (for married people it is OK, because if it is the humane thing to not break up families). By the way, I am single. Not advocating my case. 

15 minutes ago, crazygreg44 said:

Allow me my 5 cents about the income affidavit case. I think that Immigration is not going to accept banking receipts over monthly money coming into your Thai bank account from abroad, as a proof of income. Why I think so? Well, it is not scam-proof ! . . . . . . . .Let me show you . . . because you literally can spray fog over the fact that you, let’s say, only make 45,000 THB per month. Imagine you hold two bank accounts in Thailand, and use only ONE for receiving 65,000+ THB from your USA or UK account every month. In Thailand you withdraw cash 20,000 THB from account #1 and put into account #2. Then you transfer the 20,000 THB to your USA/UK account. (Fees and exchange rate losses not taken into consideration here,ok?) In the meantime, your USA/UK account has accumulated another 45,000 THB and you top this up with the 20,000 THB to make the next transfer of 65,000 THB from USA/UK to Thailand. Let’s call this an “Income carousel” or a “transfer carousel”. You could actually hide the fact that your income is much much less than the 65,000 THB needed for the extensions, while not needing 800,000 in a bank. I consider the Thai side clever enough for not being aware of it

If I were the immigration boss, I will allow this loophole to exists with specific instructions in the police regulation not to do this with severe penalty and blacklisting for life, if caught  I will gather more data. (Thailand 4.0) There is only a finite number of of ways you can send money back and remit again, unless you're involved in money laundering (which is crime by itself, I guess). In the second round I will handle those involved in this round-robin game and blacklist them for life. 

40 minutes ago, Jingthing said:

I need to refresh my details on all those. I recall Costa Rica does require import but the amount much less than Thailand. Costa Rica has become less popular in recent decades. I don't like Costa Rica because they have the most boring food of any country I've ever visited. 

 

BTW, Ecuador also has a bank method. About 27K USD. 

Bottomline, no country operates on Embassy affidavits. Most countries require import of money or verification of some type of stable income like SS or trust fund or investment inside the country. Thailand was the only wild wild East where people from the West can come here and call it home with and income affidavit from their embassies. I think requirements in Thailand is still very relaxed compared to any country in the world  with comparable  infrastructure and facilities. Yes, Thailand has its problem but still it is a livable country for the long-term retirees. Thailand is registering a surge in foreign investment, peoples disposable incomes are rising and if it asks us to show you bring 65K every month (40K for married), it is not asking for too much, in my opinion. Just bring 65K every month (ok, you can still play round robin game if you're short of 65K) and be happy. 

11 minutes ago, Jingthing said:

Almost all of them! The exceptions are few. For example Peru. 

How about popular destinations for Americans like Costa Rica, Panama, Ecuador

7 minutes ago, Jingthing said:

The majority of nations that have formal retirement programs for foreigners with income methods absolutely DO NOT require import into their banks. Some do. MOST DO NOT.

Can you give a few examples. may be all those people whining about or reluctant to bring 65K/month to Thailand, should move to those countries. In Malaysia, I know you have to bring the money inside the country. 

9 minutes ago, gk10002000 said:

Just because I don't withdraw the monies from the IRA does not mean it is not income.  As for your comment about the regular brokerage account, of course those dividends and interest are reported. 

I think the point is how much money is deposited in to a Thai bank account (not in your brokerage account). A don't know any country (where retirement is allowed, e.g Malaysia) relies on embassy affidavit. All countries require money deposited into your local banks. It does not matter how much your income is, are you depositing the minimum required amount into a bank physically located inside Thailand? If not you're out. And I like this system. Put the money in a Thai bank (even if you circulate it in a round robin fashion), and get the extension. Easy and simple. 

32 minutes ago, gk10002000 said:

It is income just the same as my regular Brokerage account dividends and interest are income that are automatically reinvested each month or quarter via the "DRIP". 

You can hold securities directly or within a fund. If interests and dividends are held within a fund are directly deposited into the fund and re-invested, IRS does not consider it to be income. If the interests and dividends are deposited to your brokerage account, they are considered income (even if reinvested after the deposit has occurred) If your brokerage account gives you a monthly statements clearly stating how much was deposited in your brokerage account than it will be accepted by TI, I guess. 

4 minutes ago, soalbundy said:

No, and don't bother, how long have you been in Thailand ?

I don't live permanently in Thailand but coming to Thailand for 14 years. (since 2004). For the last year, I am on O-A visa

4 minutes ago, 007 RED said:

No problem.  My three UK pensions are paid into an HSBC account in the UK.  Bangkok Bank has a branch in London, so as and when I require funds I go on line to HSBC and transfer the amount I want (GBP) to BB London who in turn transfer the GBP to my Foreign Savings Account at BB HQ in BKK.  The funds are normally available next day because of time difference. 

 

BB make a nominal charge for the transfer and I get their TT rate when I convert the GBP to THB.  The bank book provides an audit trail of overseas fund arriving in Thailand if needed.  Has worked well for me for the past 10 years.

 

FYI…. BB is able to offer the same arrangement via their New York Branch https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-US-to-Thailand-via-Bangkok-Bank-NewYork-branch

I need steps to verify trial deposits from major banks (outlines above) to Bangkok bank for first time linking of the two accounts. All other info are redundant. Not useful at all. All my trials deposits were rejected by Bangkok bank because they don't conform to IACH format. Specifically for the US banks. Not sure about London banks

1 minute ago, jimn said:

What on earth are you on about. Nowhere has anyone currently been able to get an extension of stay based on retirement/marriage based on 12 x 40/65k monthly deposits without an embassy letter.

Has anybody tried it without embassy letter and only bank deposit of 65K every month in a Thai bank? 

3 minutes ago, soalbundy said:

not without an embassy letter

No embassy letter is required if you show bank deposit of 65K every month for 12 months. They want to see money. No fraudulent embassy letter. NO countries in the World require embassy letter. Everybody goes by bank deposit.

1 minute ago, moontang said:

i did it two weeks ago....but yes, there is some kind of crap going on with that system

What did you do two weeks ago? Did it a trial deposit to link your account. That is impossible. I have already asked them. They said the their format is not IACH format. 

6 minutes ago, soalbundy said:

I'm sure they all give letters or affidavits. Wonder what the Nigerians do, probably provide a last will and testament from a rich uncle

No because monthly bank deposit into a Thai bank was always a valid proof. 

1 minute ago, moontang said:

you just get the routing number for BBL, NY....and use your Thai account number.

Bangkok Bank rejected all trial deposits because they don't comply with IAT format. Please do't tell me you have done hundreds in the past.

3 minutes ago, Spidey said:

Name one that doesn't.

Singapore. They only provide notarial services for your documents. China. Same

7 minutes ago, moontang said:

most could set up their home account with an auto-transfer every month..you would never even notice the extra step.

Can you outline the steps how to do it? I have accounts in all major banks in the US (Ally, BofA, Chase, CaptialOne, Welsfargo, HSBC, Citi, First national, and a few credit unions)