USA income affidavit

[rhodie]

26 minutes ago, WorriedNoodle said:

Why only 2 nations? Does this not mean Aussies stat decs will be stopped as well? Indeed all nationalities retiring here should be treated equally?

Good guys in, bad guys out. ????

[rhodie]

11 minutes ago, bluebluewater said:

I'm pretty sure my days here in Thailand are numbered after some 13 years.  Alas . . . .

I do not have 800K in a bank here nor am I willing to deposit that amount and I do not need 65K to live and I am also unwilling to bring that amount in.  The heck of it is that I have several million dollars in brokerage accts in the States.   I live quietly and modestly here and I think I am the very kind of guy that Thailand might want to have about.

 

My choice to NOT do those things and I'm not looking for sympathy.  It's early days yet so we'll all just have to see how it works itself out. 

If you go back home every 2 years for an OA Visa, you would be fine as you can show the money you have there. Need medical and police clearance, but with a border hop can last 2 years.

[JackThompson]

29 minutes ago, Snow Leopard said:

Don't shoot me here but could you not transfer in 65K every month to one bank account. Withdraw it and then send it back out to where it came from 2 days later. Repeat monthly??? Take your bank book showing the amount coming in only. 

You'd need to make the withdrawals "look like real spending" - and there would be some real-spending involved anyway, unless you can live on the beach, consuming only air and seawater.  Only the excess above ones actual "living-expenses in Thailand" would need to be rotated back and forth. 

 

13 minutes ago, Wake Up said:

She asked me what I would probably do next year and I said I would put 800 k in the Thai bank and she checked another box and then I waited for my passport back. 

Ah, so a poll then - maybe to find out if this policy (if enacted) would beef-up amounts in Thai accounts?  It could be a bluff - we will see.  But if enough would cave-in and deposit the money (or pay them off via agents), why wouldn't they do it?

[Snow Leopard]

14 minutes ago, bluebluewater said:

I'm pretty sure my days here in Thailand are numbered after some 13 years.  Alas . . . .

I do not have 800K in a bank here nor am I willing to deposit that amount and I do not need 65K to live and I am also unwilling to bring that amount in.  The heck of it is that I have several million dollars in brokerage accts in the States.   I live quietly and modestly here and I think I am the very kind of guy that Thailand might want to have about.

 

My choice to NOT do those things and I'm not looking for sympathy.  It's early days yet so we'll all just have to see how it works itself out. 

Just recycle the 65K every month then. Send back out what you don't use.

[Wake Up]

Great thing was I got there at 8:55 am got que 67 and was reached before lunch and then had my conference after lunch break and got my extension of stay and rentry permit by 2 pm. Was worried going the day after a holiday but today everyone seemed to work hard and faster than normal. 

[HappyAndRich]

1 hour ago, Jingthing said:

Do the funds really need to be transferred into Thailand MONTHY?

Yes!

 

1 hour ago, Kadilo said:

65K a month left in your account untouched for 12 months that shows 800,000 at end of the year, 65K a month that you can use them top up with 3 months to go before renewal, or 65K a month you can use to live on?

This is like a trick question, and deserves a trick answer. You will probavbly get away with showing 3 month with 65K transferred to a Thai bank account the first extemsion. The year after they probably will ask to see the transfers a full year back. That´s what I would doif I were an officer, to see if all expats really follow the rules.

[stevenl]

16 minutes ago, wgdanson said:

I think not. Doesn't the Aussie & Dutch Embassies only require the applicant to swear they have the money/income. The Emabassies DO NOT verify that income.

No. Dutch embassy requires proof if income.

[Thaidream]

2 minutes ago, JackThompson said:

Ah, so a poll then - maybe to find out if this policy (if enacted) would beef-up amounts in Thai accounts?  It could be a bluff - we will see.  But if enough would cave-in and deposit the money (or pay them off via agents), why wouldn't they do it?

It's certainly possible they are polling- but this is one report coming from CW.   We need many reports coming from several locations.  I  am also curious about the so called cut off date and accepting the letter through June of 2019. In a few days we will be in the last 2 months of the year - not  alot of time for people to adjust  everything as far as finances; decisions etc.  In addition- wouldn't Thai Imm have notified the US Embassy that they will not accept letters after 1 Jan 2019??

[Vacuum]

10 minutes ago, JackThompson said:

So should they work until they die, then

 

Yes of course. That's the general idea of most countries governments, that way the don't have to shell out for your pension.

[ubonjoe]

9 minutes ago, stevenl said:

Dutch embassy requires proof if income.

But do they verify it by contacting the source of the income?

[Snow Leopard]

11 minutes ago, JackThompson said:

You'd need to make the withdrawals "look like real spending" - and there would be some real-spending involved anyway, unless you can live on the beach, consuming only air and seawater.  Only the excess above ones actual "living-expenses in Thailand" would need to be rotated back and forth. 

 

Ah, so a poll then - maybe to find out if this policy (if enacted) would beef-up amounts in Thai accounts?  It could be a bluff - we will see.  But if enough would cave-in and deposit the money (or pay them off via agents), why wouldn't they do it?

A lot of people are saying that they don't need 65K to live off and they don't have 800K either. An incredible amount actually on the thread about the BE stopping the letter. 

 

1. Bring in the required 65K per month to one account.
2. Spend what you need.
3. Transfer the difference back to where it came from.

You lose the transfer fee

You gain not having large amounts in accounts in Thailand.  

I don't see how this is breaking any laws.

[Jingthing]

A lot of people are saying that they don't need 65K to live off and they don't have 800K either. An incredible amount actually on the thread about the BE stopping the letter. 
 

1. Bring in the required 65K per month to one account.
2. Spend what you need.
3. Transfer the difference back to where it came from.

You lose the transfer fee
You gain not having large amounts in accounts in Thailand.  
I don't see how this is breaking any laws.

It wouldn't be a problem because there is no specific spending amount requirement.

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

[Thaidream]

14 minutes ago, HappyAndRich said:

This is like a trick question, and deserves a trick answer. You will probavbly get away with showing 3 month with 65K transferred to a Thai bank account the first extemsion. The year after they probably will ask to see the transfers a full year back. That´s what I would doif I were an officer, to see if all expats really follow the rules.

That could be a way- but they could also  allow people with bank accounts in other countries to draw out 65K per month and prove it by showing Debit cards  and/or Thai ATM receipts.   One could deposit the funds in a Thai account each month- use what you need for expenses and carry over the rest and then the following month add another 65K and so forth. At some point- I can see them asking for proof at the source by showing a pension letter or an overseas bank account showing a direct deposit. Many people like myself get their pensions paid into their US account (or other country) as the pension provider will not send it overseas directly.

[Thaidream]

6 minutes ago, Snow Leopard said:

I don't see how this is breaking any laws.

It's not= anymore= than bringing in money via an ATM machine and depositing it. As many others have stated- I have no intention of placing 800K in a Thai bank account in a lump sum when there are other  options available.  The law says evidence of income of 65K per month.  It doesn't really state what the source is. That's how agents  do what they do

[Sheryl]

2 hours ago, Wake Up said:

I forgot to mention she also said if I transferred 65 K a month every month  to a thai bank account that she would accept that instead of the 800k in the Thai account. But no more accepted USA embassy verification letters dated after January 1, 2019. 

That is a key bit of info and answers some of the questions being raised by people in the Brit Embassy letter thread.

 

the big question is, do other Imm Offices around the country have the same understanding?

 

Also- did she indicate whether the 65 a month would have to be coming in from abroad?

[garyk]

This is all pretty doggy IMO. You can get SS pension verification letters from SS. You can get verification letters from independent retirement accounts. Not only that you can show the funds being deposited into your account abroad. 

Which proves 65K or over minimum ballance. 

This is nothing more than a money grab from the financial institutions. Thai government to help shore up the system.

Nothing to do with anything else.

I know of no other country that requires you to actually put money in an account in that country to qualify for a retirement visa? 

If someone know of another country that requires this pleas let me know!

 

[Joe Mcseismic]

50 minutes ago, bluebluewater said:

I'm pretty sure my days here in Thailand are numbered after some 13 years.  Alas . . . .

I do not have 800K in a bank here nor am I willing to deposit that amount and I do not need 65K to live and I am also unwilling to bring that amount in.  The heck of it is that I have several million dollars in brokerage accts in the States.   I live quietly and modestly here and I think I am the very kind of guy that Thailand might want to have about.

 

My choice to NOT do those things and I'm not looking for sympathy.  It's early days yet so we'll all just have to see how it works itself out. 

Guess you'll eventually be the richest man in the grave-yard........

[Joe Mcseismic]

20 minutes ago, Snow Leopard said:

A lot of people are saying that they don't need 65K to live off and they don't have 800K either. An incredible amount actually on the thread about the BE stopping the letter. 

 

1. Bring in the required 65K per month to one account.
2. Spend what you need.
3. Transfer the difference back to where it came from.

You lose the transfer fee

You gain not having large amounts in accounts in Thailand.  

I don't see how this is breaking any laws.

Why not two Thai bank accounts?

[onera1961]

38 minutes ago, rhodie said:

If you go back home every 2 years for an OA Visa, you would be fine as you can show the money you have there. Need medical and police clearance, but with a border hop can last 2 years

You still need to do one border hop at the end of the first year on an O-A to get the additional year. I am on an O-A visa. I think I will continue border hop every three months (to avoid reporting my addressees and succumb to Thai immigration's police state rules). I will never deposit 800K in a Thai bank. I will get my O-A from USA with police certificate (does not cost me anything) and a health certificate (doctor's charge $175) and visa fee ($200).

[Joe Mcseismic]

10 minutes ago, garyk said:

This is all pretty doggy IMO. You can get SS pension verification letters from SS. You can get verification letters from independent retirement accounts. Not only that you can show the funds being deposited into your account abroad. 

Which proves 65K or over minimum ballance. 

This is nothing more than a money grab from the financial institutions. Thai government to help shore up the system.

Nothing to do with anything else.

I know of no other country that requires you to actually put money in an account in that country to qualify for a retirement visa? 

If someone know of another country that requires this pleas let me know!

 

You're not wrong. Woof! Woof!

[Sheryl]

21 minutes ago, Snow Leopard said:

A lot of people are saying that they don't need 65K to live off and they don't have 800K either. An incredible amount actually on the thread about the BE stopping the letter. ..

 

The thing is, most of the people saying they do not need 65K a month/800K a year  to live here have no health insurance nor the necessary savings to pay for a major health care expense, and when asked about it say they can't afford health insurance.

 

Add in the cost of health insurance or true self-insuring (minimum 1 million readily accessible if using government hospitals only, 3-5 if using private, and able to replenish these amounts when/as used) and most people will find they do in fact need not much less than 65K/month.

 

I think what we actually have is people trying to retro fit the amount of money they have into living here and doing so by omitting any provision for health care. With often catastrophic results sooner or later.

[Thaidream]

IMO- if this is correct- it is going to take alot of time reading this  forum and watching how individual offices handle the income method. The money in the bank method is cut and dried but the income method is  what will be open to differences depending on what office you use. Frankly- I hope the Embassy letter continues and Thai Imm accepts it.

[wgdanson]

4 minutes ago, Sheryl said:

The thing is, most of the people saying they do not need 65K a month/800K a year  to live here have no health insurance nor the necessary savings to pay for a major health care expense, and when asked about it say they can't afford health insurance.

 

Add in the cost of health insurance or true self-insuring (minimum 1 million readily accessible if using government hospitals only, 3-5 if using private, and able to replenish these amounts when/as used) and most people will find they do in fact need not much less than 65K/month.

 

I think what we actually have is people trying to retro fit the amount of money they have into living here and doing so by omitting any provision for health care. With often catastrophic results sooner or later.

Spot on Sheryl.

[Thaidream]

2 minutes ago, Sheryl said:

think what we actually have is people trying to retro fit the amount of money they have into living here and doing so by omitting any provision for health care. With often catastrophic results sooner or later.

Probably true to some extent and while I do hold funds in reserve-but not in Thailand  it would really help expats  by allowing them to buy into the Thai Social Security scheme . Eventually the Us will  have Medicare for all but  getting them to allow it overseas is another issue.

[onera1961]

1 hour ago, bluebluewater said:

The heck of it is that I have several million dollars in brokerage accts in the States.  

Go for an O-A visa every two years and border hop every three months to avoid reporting 90-day stay. I am also against putting 800K in a bank of a police state. Just curious, what are you going to do with your millions if you're living modestly. All for your estate and for your children? They will win the genetic lottery ????

[Kadilo]

1 hour ago, Wake Up said:

I don’t know. She spoke English well and was polite. She said I needed to show 800 k in a Thai bank three months before I apply for extension next year. Then she said I could also show 65k or more transferred monthly every month to a thai bank and that would be ok also. This year as long as the USA embassy letter is dated before January 1, 2019 then they will accept them the first six months of next year and then no more. She had some form that she checked off as she told me the information. She asked me what I would probably do next year and I said I would put 800 k in the Thai bank and she checked another box and then I waited for my passport back. 

No worries. I think it’s been answered since. 

Thanks for sharing 

[marcusarelus]

1 hour ago, bluebluewater said:

I'm pretty sure my days here in Thailand are numbered after some 13 years.  Alas . . . .

I do not have 800K in a bank here nor am I willing to deposit that amount and I do not need 65K to live and I am also unwilling to bring that amount in.  The heck of it is that I have several million dollars in brokerage accts in the States.   I live quietly and modestly here and I think I am the very kind of guy that Thailand might want to have about.

 

My choice to NOT do those things and I'm not looking for sympathy.  It's early days yet so we'll all just have to see how it works itself out. 

I don't believe you.  Makes no sense.  If you have 4 million dollars in accounts in the USA one percent of that is over a million baht.  Why would anyone mind putting 1% of their cash into a Thai bank?  I spend more than one percent of 65,000 on dog food for my puppy. 

Edited October 24, 2018 by marcusarelus

[Wilson Smith]

Perhaps the original idea of the 800K and the 65K a month is that these funds are forced to buy Baht (on top of many other reasons). And the funds transferred in were never check is a loophole that is being closed.

[JLCrab]

8 minutes ago, onera1961 said:

Go for an O-A visa every two years and border hop every three months to avoid reporting 90-day stay. 

How long do you have to stay in US to get that done and do you do it by mail or in person. Please.

[onera1961]

12 minutes ago, Sheryl said:

Add in the cost of health insurance or true self-insuring (minimum 1 million readily accessible if using government hospitals only, 3-5 if using private, and able to replenish these amounts when/as used) and most people will find they do in fact need not much less than 65K/month.

People can go back to their country of origin for medical treatment. I am not sure about other countries, but for an US citizen can get medicare after 65 and for any major operation they can leave Thailand and go to USA. My philosophy is to keep a small house in the USA (you can buy for 50K now in most rural university towns) and never burn the  bridge to your passport country. Honestly speaking, one only need 30K single or 40 K (with a partner to live comfortably in Thailand).