Income And Available Funds

[one baht]

 Income , and Available funds ...meaning your savings . Can your  available funds  be used in association with your  income  to help prove you have the means to substantiate your stay in Thailand . Thanks

[ubonjoe]

Where are you reading or hearing about that requirement and in reference to what a person is doing.

[one baht]

 Ubonjoe , A friend of mine has a reduced pension in Australia and he was wondering what  the possibilties might be of him being able to come to Thailand and afford to extend his stay .

[ubonjoe]

2 minutes ago, one baht said:

 Ubonjoe , A friend of mine has a reduced pension in Australia and he was wondering what  the possibilties might be of him being able to come to Thailand and afford to extend his stay .

If applying for an extension based upon retirement he could use the combination option of annual gross income and money in a Thai bank account to reach a total of 800k baht.

For example if he had a monthly income equal to 50k baht that would equate to a annual income of 600k baht plus 200k baht in a Thai bank.

 

[one baht]

Thank you for your advice .

 

[wgdanson]

1 hour ago, ubonjoe said:

If applying for an extension based upon retirement he could use the combination option of annual gross income and money in a Thai bank account to reach a total of 800k baht.

For example if he had a monthly income equal to 50k baht that would equate to a annual income of 600k baht plus 200k baht in a Thai bank.

 

And if the 200k came from some of your income..............?

[ubonjoe]

4 minutes ago, wgdanson said:

And if the 200k came from some of your income..............?

???

What do you mean? Some people might have that in savings someplace.

[wgdanson]

4 minutes ago, ubonjoe said:

???

What do you mean? Some people might have that in savings someplace.

If you had 50k per month income in UK, in eight months it would be 400k. You send that to your Thai bank and leave it there for three months. The Consulate letter is only interested in INCOME not outgoings. Or am I wrong?

 

[Jip99]

1 minute ago, wgdanson said:

If you had 50k per month income in UK, in eight months it would be 400k. You send that to your Thai bank and leave it there for three months. The Consulate letter is only interested in INCOME not outgoings. Or am I wrong?

 

 

 

You are not wrong.

 

Previously, I had gross rental income of £16,000 and that figure was used on the income letter - no account was taken of the mortgage payments and maintenance etc that totaled  £12,000 

[BritTim]

39 minutes ago, wgdanson said:

If you had 50k per month income in UK, in eight months it would be 400k. You send that to your Thai bank and leave it there for three months. The Consulate letter is only interested in INCOME not outgoings. Or am I wrong?

As long as you have no need to use any of your income for purposes such as eating, what you suggest would be feasible, and well within the rules.

[wgdanson]

1 hour ago, BritTim said:

As long as you have no need to use any of your income for purposes such as eating, what you suggest would be feasible, and well within the rules.

Send the wife or GF to work for that!

[wgdanson]

2 hours ago, BritTim said:

As long as you have no need to use any of your income for purposes such as eating, what you suggest would be feasible, and well within the rules.

You then use the 400k in your Thai bank to live off for the year, ie Bht 33,000 per month is a lot of beer & food up here in the sticks if you already own your house and car. Robert's your father's brother.

 

[BritTim]

2 minutes ago, wgdanson said:

2 hours ago, BritTim said:

As long as you have no need to use any of your income for purposes such as eating, what you suggest would be feasible, and well within the rules.

You then use the 400k in your Thai bank to live off for the year, ie Bht 33,000 per month is a lot of beer & food up here in the sticks if you already own your house and car. Robert's your father's brother.

The suggestion was to use your entire income to build up 400,000 in the bank. If you are using any portion of it for beer and food, the account will not contain 400,000 baht at the end of the eight month period.

[wgdanson]

1 minute ago, BritTim said:

The suggestion was to use your entire income to build up 400,000 in the bank. If you are using any portion of it for beer and food, the account will not contain 400,000 baht at the end of the eight month period.

No Tim, you have to get one year's 400k ahead in your Thai bank, and top it up from UK income before nine months are up to give time for maturing. In fact at 33k per month you would only have spent 297k of it.

[one baht]

My friend in Australia ,has informed me he has a Home Equity loan , and would include that

"fund" in a Stat Dec from the Australian Embassy ,and if  he was ever asked to prove his declaration to immigration ,would a Notarised bank statment ,which would show a debit balance but also would show he had Available Funds of X amount of dollars well in excess 

of the debit figure , be accepted . Thanks

 

[one baht]

 For those who may be interested , The friend of mine in Australia , has been granted a 6 month METV , using a copy of his latest Home Equity Loan Statement showing a debit balance.   $8000 is the required amount of "Adequate Finance" for a  6 month METV in Australia. He obtained his visa in Melbourne .  Thought this could  be of help to some  .