Retirement visa and being rich

[Wake Up]

If you win 100 million please let me be your guide to Nana Plaza. I will handle all the visa issues for you and you will never need to go to CW or worry about immigration or anything other than blonde, black, tall or short. 55555 we will live at the JW and they will handle all your Thailand issues. 

[wgdanson]

2 minutes ago, ubonjoe said:

Not sure why they do it showing annual income. You would have to ask them about that.

You can do the average income yourself to get the monthly income required yourself. Other embassies only need your monthly income to do your proof of income document.

How the f.... can I ask the BE, they don't answer the phone....lol. I guess on the BE form it shows how to work out your ANNUAL pension income by giving the example 52 x £XXX, and ANNUAL incomes from other sources. Then you add them all up, and divide by 12. That seems to be the figure the IO is interested in.

[Becker]

1 hour ago, ubonjoe said:

It is actually 780k baht annual income since the requirement is a income equal to 65k baht per month.

 

Only the monthly income needs to be proven not an annual income.

So if I can get a statement from the bank confirming a transfer (or transfers) from abroad totaling more than 780000 Baht in the year running up to the retirement extension application this would be accepted?

[helloagain]

20 hours ago, Phuket Man said:

The requirements are 800,000 in the bank OR 65,000 monthly income.
Or a combination of the two.


Sent from my iPad using Thaivisa Connect

100% Correct Phuket Man. And just to answer the orginal question. Just cos you might have millions in a thai bank why would there rules not apply ? Just to turn it around the other way my wife is thai and she applied for a 10 year american visa and got it but for her she does not have to now fill out an esta form to say when she is going. But i am english with a uk passport i can go anytime cos of your rules but if i do not fill out your esta form i will not be allowed to board the plane at heathrow. RULES IS RULES NO MATTER HOW MUCH MONEY YOU HAVE. 

[ubonjoe]

6 minutes ago, Becker said:

So if I can get a statement from the bank confirming a transfer (or transfers) from abroad totaling more than 780000 Baht in the year running up to the retirement extension application this would be accepted?

Immigration at this time would not accept that since they want proof of income by way of a income document from your embassy.

For backup proof for the proof of income you could show transfers coming into the country. Showing transfers other than monthly might make them have to think about it a while. Not sure they would be happy with one annual transfer showing 780k baht or more.

[gamini]

21 hours ago, ubonjoe said:

Perhaps but that income would also require showing tax payments and tax returns. It cannot be proven by a income letter.

tax is deducted from Thai dividends and you should get a receipt from your broker. There is no capital gain tax

[rwill]

If that much money get a 20 year elite visa.  Don't have to worry about financial stuff then.  Still annual extensions and 90 day reporting though.

 

[ronaldo0]

21 hours ago, wgdanson said:

Sorry but your 65k a month DOES NOT have to 'come in'.

So you can have 65000 in a thai account and then put it in another thai account for a week every month , then take it out and return it to the other thai account ??

[ubonjoe]

19 minutes ago, rwill said:

Still annual extensions and 90 day reporting though.

No annual extension is needed unless a person chooses to stay for more than a year without leaving. The visa allows unlimited one year entries for 5 years from the date of issue.

Ninety 90 day reports would not be needed unless they chose to stay longer than 90 days. One of the perks is that Thai Elite will do the 90 day reports for you dependent upon where a person is living.

[HappyAndRich]

22 hours ago, djdubuque said:

my question is if your wealth let's say you have an account with 100 million USD in it cause you won the lottery.  Do these requirements still apply?

Strange question. Why would you even bother with enough money? Do the smart choice. bring 20 million baht into the country. Get investment visa, and leave the other money invested in the western world. I mean, we are talking about smaller than 1% of the capital you are mentioning.

[wgdanson]

6 minutes ago, ronaldo0 said:

So you can have 65000 in a thai account and then put it in another thai account for a week every month , then take it out and return it to the other thai account ??

Which part of 'not come in' do you not understand. It is income into your foreign bank which the Embassy has to verify or you have to swera to. Income INTO a Thai bank DOES NOT COUNT.

[Peterw42]

4 minutes ago, ronaldo0 said:

So you can have 65000 in a thai account and then put it in another thai account for a week every month , then take it out and return it to the other thai account ??

At the moment thats a mute point because there are no checks on bank accounts or source etc, its letters from Embassies etc. If they do introduce bank account checks etc then yes, there could be all sorts of ways to move money around and call it income. If you had good exchange rate and fees, you could send money back and forward to home country.

[Peterw42]

2 minutes ago, wgdanson said:

Which part of 'not come in' do you not understand. It is income into your foreign bank which the Embassy has to verify or you have to swera to. Income INTO a Thai bank DOES NOT COUNT.

Thats not the case at the moment, its just income, there is no definitive statements saying income must be from overseas etc. The declaration I make to immigration each year says "I have an income of X" no mention of what account or even if its income into thailand. 

[wgdanson]

1 minute ago, Peterw42 said:

Thats not the case at the moment, its just income, there is no definitive statements saying income must be from overseas etc. The declaration I make to immigration each year says "I have an income of X" no mention of what account or even if its income into thailand. 

OK Peter, I stand corrected. Sorry.

[ronaldo0]

2 minutes ago, Peterw42 said:

At the moment thats a mute point because there are no checks on bank accounts or source etc, its letters from Embassies etc. If they do introduce bank account checks etc then yes, there could be all sorts of ways to move money around and call it income. If you had good exchange rate and fees, you could send money back and forward to home country.

And there is the answer I was looking for ! Thanks

[shy coconut]

21 hours ago, wgdanson said:

If you had USD 100M in the bank, why would you want to retire in Thailand?

There is one prolific poster here who claims that he/she only stays here for

tax reasons. Must have some serious money to make the move worthwhile.

[robertson468]

22 hours ago, Sheryl said:

You are nto required to have a pension. The only requirements are age 50 and over, either 800,000 in the bank or 65,000 a month coming in, both from  overseas sources.  They do not in the least care whether pension, interest, savings etc. just the amount and that it is brought in from abroad.

The law does not say coming in from overseas sources.

[Wallander4]

That kind of money and want to retire in Thailand … don't think so

[rumak]

22 hours ago, wgdanson said:

If you had USD 100M in the bank, why would you want to retire in Thailand?

cheap extras with massage

[wgdanson]

6 minutes ago, robertson468 said:

The law does not say coming in from overseas sources.

The law does not say 'coming in', as long as your Embassy verifies or you swear that you have it in a bank somewhere.

Edited October 24, 2018 by wgdanson

[rumak]

OP:   If you win that 100 million and want to come to  thailand i am available to be your consultant.

 

oops.....maybe i need a work permit for that cause i will definitely be seen as taking money away from thais.   

Edited October 24, 2018 by rumak

[Anthony 777]

So do you pay tax in Thailand on the rental income?

At the moment I derive a part of my income from a Thai rental property, Its covered by my income letter which, being Australian, is just a declaration "I have an income of X" with no statement of the source. 

Sent from my SM-G960F using Tapatalk

[NoshowJones]

22 hours ago, chrisinth said:

Why do you think it would be different?

Probably because the OP knows Thai Immigration are always changing things and different offices have different ways of doing things.

[rumak]

13 minutes ago, Anthony 777 said:

So do you pay tax in Thailand on the rental income?

 

Sent from my SM-G960F using Tapatalk
 

 

pretty personal question......   it is not directed to me but i will answer that thais with house or condo rentals pay tax on that to the tune of 12 and 1/2 %.    sounds like a lot, it is.    

that is seperate tax from personal income tax.    

i don't know what is required of hotels or guest houses.

[NoshowJones]

22 hours ago, wgdanson said:

If you had USD 100M in the bank, why would you want to retire in Thailand?

Women, what else?????

[NoshowJones]

15 hours ago, Phuket Man said:

They don't care about that either.

Really??

[khunPer]

23 hours ago, djdubuque said:

...my question is if your wealth let's say you have an account with 100 million USD in it cause you won the lottery.  Do these requirements still apply?

Congratulations with your Lottery-price.

With more than equivalent to 3 billion baht you are having a number of choices, like the original VIP Thai Elite card for 20 years for only 2 million baht, including golf and spa and limousine tranfer from airport; or an invester Visa – you only need to "invest" a tiny fraction of your jackpot, believe it's 40 million baht at the moment – so you don't even need to care about poor folks problems with having enough in the bank for a 800k baht deposit, or a 65k baht a month retirement pension income...????

[stephenterry]

Okay, I'm a Brit living in Chiang Mai who will be adversely affected by the BE not providing an income letter, as I do not have more than 300,000 baht in a bank and broker account. I provide my annual tax return to the BE which gives a breakdown of my pension income, which meets the 65k requirement.

 

However, owing to necessary expenditure in the UK, including tax, I don't transfer that amount into my Thai bank account. Can anyone tell me whether TI would accept any other alternative to the BE income letter? Or would they withdraw that option for all British over 50 retirees? 

 

   

[wwest5829]

On 10/23/2018 at 1:12 PM, wgdanson said:

If you had USD 100M in the bank, why would you want to retire in Thailand?

I might well still be retired here but would enjoy our traveling internationally. I retired here, in part, because I cannot afford the comfortable middle class living standard I enjoy here true. But I also decided on Thialand for additional reasons. I suspect that may be true of others. No criticism meant, just an observation.

[VBF]

On 10/23/2018 at 7:12 AM, wgdanson said:

If you had USD 100M in the bank, why would you want to retire in Thailand?

I was thinking that. I'm assuming you're single, or at least with no "ties to a Thai" 

With that kind of resource, "The World is your Lobster" (Arthur Dailey) - LINK

Just have Thailand on your itinerary for an annual or bi-annual trip

 

I should be so lucky! ????????

Edited October 24, 2018 by VBF