Changes to retirement visa income affidavit requirement for Americans?

[likerdup1]

On 1/13/2019 at 8:26 AM, ubonjoe said:

You can use your income that is being transferred from overseas combined with money in a Thai bank to reach a total of 800 baht. At most offices the money in the bank would need to be in the bank for 3 months when you apply.

Hi Joe, I heard some rumors today. Someone had mentioned  that an expat looking to fulfill the income/finance requirements could put 65k into a Thai Bank, withdraw it for a couple of days and then put it back in - doing this for serveral months to satisfy the requirement. Sound too good to be true.  Any news? I can't see that this could be correct but perhaps it is. Also another rumor that the 800k must be in for a full year. Has anything changed recently? Anybody hear of any changes to the finance requirement for the retirement visa Non-O and extension of stay?

[jacko45k]

2 minutes ago, likerdup1 said:

Hi Joe, I heard some rumors today. Someone had mentioned  that an expat looking to fulfill the income/finance requirements could put 65k into a Thai Bank, withdraw it for a couple of days and then put it back in - doing this for serveral months to satisfy the requirement

The deposits need to be shown as coming in from overseas. These would be domestic cash deposits.

[likerdup1]

1 minute ago, jacko45k said:

The deposits need to be shown as coming in from overseas. These would be domestic cash deposits.

What about the 800k in the bank 3 months prior to applying for extention method? I can certainly do that for my upcoming extension later this year. Has it been changed from 3 months to a full year? Any news from Chonburi/Jomtien immigration?

[jacko45k]

4 minutes ago, likerdup1 said:

What about the 800k in the bank 3 months prior to applying for extention method? I can certainly do that for my upcoming extension later this year. Has it been changed from 3 months to a full year? Any news from Chonburi/Jomtien immigration?

There have been no changes to the 800k in a Thai bank requirement. Used this myself at Jomtiem in Dec.

[ChiangMaiMike]

I heard today that the 800k baht has to be in only 2 months before you renew your retirement visa, and must remain for 3 months after you renew at which point you can remove 400k but must keep 400k baht there indefinitely.  It's not clear to me if I can show them my U.S. SS statement and then deduct that amount from the required 800k baht, but I think not.  Was told by an assistant that talked to someone at C.M. Immigration that need to transfer it in to have it count.  Sigh...  Was also told that the 90 day clock started when I got my extension, which was 40 days before it had to be done. That was on July 8th and no mention of any insurance requirements... But TiT and things can change at anytime.

 

Edited July 18, 2019 by ChiangMaiMike

[ubonjoe]

22 minutes ago, ChiangMaiMike said:

I heard today that the 800k baht has to be in only 2 months before you renew your retirement visa, and must remain for 3 months after you renew at which point you can remove 400k but must keep 400k baht there indefinitely.  It's not clear to me if I can show them my U.S. SS statement and then deduct that amount from the required 800k baht, but I think not.  Was told by an assistant that talked to someone at C.M. Immigration that need to transfer it in to have it count.  Sigh...  Was also told that the 90 day clock started when I got my extension, which was 40 days before it had to be done. That was on July 8th and no mention of any insurance requirements... But TiT and things can change at anytime.

 

This topic is way out of date. Many changes have occurred since it was started.

The new rules for income went into effect in December for those that cannot get proof of income from their embassy. You have to transfer at least 65k baht into a Thai bank from abroad for 12 months to qualify unless you use the combination of income and money in the bank to reach a total of 800k baht.

For money in the bank since March 1st the 800k baht only needs to be in the for 2 months on the day you apply and then it must remain in the 3 months after you apply. After the 3 months you must maintain at least 400k baht in the bank until you top the account to 800k baht.

There has been no changes to 90 day reporting. I thinky what you heard about was a check that the 800k baht is still in the bank for 90 day after the day you applied what some office are requiring you to do.

 

[MeePeeMai]

2 minutes ago, ubonjoe said:

unless you use the combination of income and money in the bank to reach a total of 800k baht.

Hey Joe have you heard of anyone successfully getting an extension using the combo method lately? 

 

My Immigration Office said it's either 800k in the bank or 65k per month.  They don't accept the combo method for a retirement extension and I have heard others reporting that their office has similar requirements.

[marcusarelus]

3 minutes ago, MeePeeMai said:

Hey Joe have you heard of anyone successfully getting an extension using the combo method lately? 

 

My Immigration Office said it's either 800k in the bank or 65k per month.  They don't accept the combo method for a retirement extension and I have heard others reporting that their office has similar requirements.

What office?

[ubonjoe]

19 minutes ago, MeePeeMai said:

Hey Joe have you heard of anyone successfully getting an extension using the combo method lately? 

Yes I have.

It is allowed according to the police order that went into effect on March 1st.

[ChiangMaiMike]

Are you saying that I can show them my U.S. Social Security Statement and deduct that from the 800k? 

[ubonjoe]

9 minutes ago, ChiangMaiMike said:

Are you saying that I can show them my U.S. Social Security Statement and deduct that from the 800k? 

No I did not say that.

You have to show the funds transferred into the country to prove the income part of the of combination option to reach 800k baht.

[onera1961]

1 hour ago, ChiangMaiMike said:

Are you saying that I can show them my U.S. Social Security Statement and deduct that from the 800k? 

Massive lack of reading comprehension ability. I wonder how these types of people had contributed to their home country's economy.