Just Received Some Bad News For US Citizens. No More Income Affidavits.

[marcusarelus]

28 minutes ago, JLCrab said:

Well presuming all goes well with my next retirement extension due before the end of the 2018 year, the only thing I know for certain for the following year is that it will be easier for me to get my hands on roughly US$15,000 for a 5-year Elite Visa than to get my hands on roughly US$25,000 for an 800K baht in-the-bank retirement extension.

 

If the Elite route, then I'll have 5 years to decide what to do next.

Do you get the $15,000 back like you can get the $25,000 at any time?  Seems obvious which is the rational choice.

[Pib]

38 minutes ago, JLCrab said:

Well presuming all goes well with my next retirement extension due before the end of the 2018 year, the only thing I know for certain for the following year is that it will be easier for me to get my hands on roughly US$15,000 for a 5-year Elite Visa than to get my hands on roughly US$25,000 for an 800K baht in-the-bank retirement extension.

 

If the Elite route, then I'll have 5 years to decide what to do next.

Preaching to the choir and I know money don't grow on trees, but that $15K is non-refundable fee....money spent...gone...basically paying $3K per year for each one year stay in comparison to paying the Bt1900 (approx $60) per year for a normal one year extension of stay. 

 

I think I would try really hard first to roundup $25K (Bt800K) for at least the 3 months seasoning period versus forking out $3K per year for a Thai Elite 5 year card. 

 

And hopefully a monthly inflow of funds of option will truly become available like the US and UK embassies said was going to be available, but of course until Thai immigration offers such an option that option is still just US/UK embassy talk.  Then you could just use that $15K (or a much smaller amount) you can round up to rotate the money into and out of Thailand only incurring some money transfer fees. 

 

 

 

Edited October 28, 2018 by Pib

[JLCrab]

Well I think when I read some of the convoluted plans some have as to how they intend to prove monthly income to the beleaguered IMM office staff I think it may be worth the US$ 3000 per year to never go near an IMM office. Besides you really don't ever get the US$ 25,000 back if you intend to use it for the next year -- only if you plan to leave the country or have it in your will upon your demise.

Edited October 28, 2018 by JLCrab

[Pib]

1 minute ago, JLCrab said:

Besides you really don't ever get the US$ 25,000 back if you intend to use it for the next year.

Sure beats paying a non-refundable $15K fee and then still have to bring in money to live on.

[marcusarelus]

2 minutes ago, JLCrab said:

Well I think when I read some of the convoluted plans some have as to how they intend to prove monthly income to the beleaguered IMM office staff I think it may be worth the US$ 3000 per year to never go near an IMM office. Besides you really don't ever get the US$ 25,000 back if you intend to use it for the next year -- only if you plan to leave the country or have it in your will upon your demise.

You only have to leave it in the bank for 3 months a year and you can use it over and over again for 50 years if you live that long. 

[JLCrab]

7 minutes ago, marcusarelus said:

You only have to leave it in the bank for 3 months a year and you can use it over and over again for 50 years if you live that long. 

If you take money out of the US$ 25K deposit after 3 months then you just have to put in the difference before the next 3 month period and so what?

But it's really pretty simple: Is it worth about $3000 per year for you to live in Thailand?? Up to you.

Edited October 28, 2018 by JLCrab

[zydeco]

15 hours ago, marcusarelus said:

We're waiting for the Australian embassy. 

I wish Australia would, so all the people posting about Australia would go to that new topic, instead of cluttering up this one about American letters.

[bristolgeoff]

All embassy doing the same now,the Brita were first everyone will follow now

[Pattaya46]

21 minutes ago, Thaidream said:

Thai Imm has already accepted my  letters  from my US Social Security income as well as My Veterans pension//

They are also accepting this kind of proof in CM as we speak.

You said that tens of times already, but tens of times members tried to explain you that no they didn't accept your foreign documents as proof of income. They accepted the embassy letter you had! Additional proofs are often asked in Chiang Mai, but many people said IO don't even have a real look at them.

 

21 minutes ago, Thaidream said:

Thai IOs read English well-they had no trouble reading what I presented. 

What about people from Russia, Greece, China... 

Edited October 28, 2018 by Pattaya46

[ubonjoe]

On 10/26/2018 at 12:03 PM, ubonjoe said:

Another off topic post has been removed. The is a serious topic and there is no room for jokes or other nonsense.

From now on there will be no notice of removals. If your post disappears you can assume that you stepped over the line.

 

 

20 hours ago, ubonjoe said:

And another reminder after 2 previous ones that I posted before.

And another one after removing a post and the replies caused by it.

[marcusarelus]

36 minutes ago, JLCrab said:

If you take money out of the US$ 25K deposit after 3 months then you just have to put in the difference before the next 3 month period and so what?

But it's really pretty simple: Is it worth about $3000 per year for you to live in Thailand?? Up to you.

I would have money in the bank in Thailand if I didn't need a visa.  Who would keep the money under the mattress?  How do you figure it costs $3000?  The extension is $57.  Of all of the countries in the area I like the banks in Thailand or Singapore.  I have had money in both and I moved mine from Singapore to Thailand.  

[Pattaya46]

4 minutes ago, Thaidream said:

I have no idea how they deal with people who cannot speak English- but they've been doing extensions for  eons so I am sure  they know how to handle it. i do know this if- I could not converse in Thai or English- I'd bring some who can.

Not talking about what language people can speak, but language used on their documents/proofs.

Big advantage of embassies' letters was that they were all at least in English and/or Thai.

Reading Russian or Chinese on accounting documents is not something many IO can do !

[ChiangMaiLightning2143]

I would have money in the bank in Thailand if I didn't need a visa.  Who would keep the money under the mattress?  How do you figure it costs $3000?  The extension is $57.  Of all of the countries in the area I like the banks in Thailand or Singapore.  I have had money in both and I moved mine from Singapore to Thailand.  

＄3000 is the approximate yearly cost of the Basic Thailand Elite membership the poster is talking about.


Sent from my iPhone using Tapatalk

[bkk6060]

13 minutes ago, marcusarelus said:

I would have money in the bank in Thailand if I didn't need a visa.  Who would keep the money under the mattress?  How do you figure it costs $3000?  The extension is $57.  Of all of the countries in the area I like the banks in Thailand or Singapore.  I have had money in both and I moved mine from Singapore to Thailand.  

He was referring to the 5 year elite Visa for 500,000 b.

Divide 5 in 500,000....

[JLCrab]

10 minutes ago, marcusarelus said:

How do you figure it costs $3000?  The extension is $57.

A 5-year Thai Elite Visa is About $15,000 or about $3000 per year. The extension is 1900 baht AFTER you deposit 800K baht in the bank which to me I consider not recoverable as I intend to stay permanently in Thailand. And I do not have the readily demonstrable Social Security or military pension etc. for the 65K baht proof of monthly income.

 

I would like to do the O-A visa but +/- 6 weeks in the US is not really feasible for me.

[Thaidream]

12 minutes ago, Pattaya46 said:

ot talking about what language people can speak, but language used on their documents/proofs.

Big advantage of embassies' letters was that they were all at least in English and/or Thai.

Reading Russian or Chinese on accounting documents is not something many IO can d

Agreed- but every Embassy provides its citizen with a list of Translation service- if I had a document in Chinese I needed translated to Thai or English it can be done. Where there is a will-there is a way.

[Pattaya46]

2 minutes ago, Thaidream said:

Agreed- but every Embassy provides its citizen with a list of Translation service-

if I had a document in Chinese I needed translated to Thai or English it can be done. 

Translation... sure... One more step to allow "us" forgery. 

[JLCrab]

7 minutes ago, Thaidream said:

Where there is a will-there is a way.

Yes and if I were to plunk down 800K baht into a Thai bank account for extension purposes that's just what I would need -- a will.

[offset]

8 minutes ago, JLCrab said:

A 5-year Thai Elite Visa is About $15,000 or about $3000 per year. The extension is 1900 baht AFTER you deposit 800K baht in the bank which to me I consider not recoverable as I intend to stay permanently in Thailand. And I do not have the readily demonstrable Social Security or military pension etc. for the 65K baht proof of monthly income.

 

I would like to do the O-A visa but +/- 6 weeks in the US is not really feasible for me.

So what will you do after 5 years will you take out another Elite visa which will mean the Elite visa will cost you more and you will never get any money back

 

Money invested even in the lowest 12 month account will give you enough interest to pay for your normal extension 

[Thaidream]

11 minutes ago, Pattaya46 said:

ranslation... sure... One more step to allow "us" forgery

Since yous have so many doubts about what Thai Immigration wilt or won't accept- what languages they can understand etc- you may want to call you local Thai Immigration Office and discuss all these issues. No one on this forum knows the answers/

[JLCrab]

8 minutes ago, offset said:

Money invested even in the lowest 12 month account will give you enough interest to pay for your normal extension 

I used to work in offshore oil & gas exploration where anything less than US$ 100 million was a rounding error. That's one perspective. You have your ways of evaluating your finances; I have mine.

[DogNo1]

Copies of my American bank statements showing an amount equivalent to over 65,000 baht being deposited in my account on a monthly basis have been accepted by Thai immigration since I started doing extensions more than ten years ago.  I can envision a scenario in which Thai immigration might find the variety of documents of proof submitted terribly confusing and change the proof requirement to a Thai bank book and letter from that bank.  Actually, various forms of proof have always been required in addition to the embassy affidavit of income at the discretion of the immigration officer.  It doesn't seem likely that they will require a new type of proof of income unless they find understanding the forms of proof of income newly submitted overwhelming.  If they start to require only Thai-based proof of income, for many of us the 800,000 in the bank will be the most simple to manage, as Cheryl says.  Some warning or grandfathering clause would be needed to allow those of us without the money in the bank to get it in three months before the date of our extension renewal.  Let's hope that immigration will consider the impact if they suddenly rule that only money held in Thailand will be accepted as proof of income.

[Pattaya46]

13 minutes ago, Thaidream said:

Since yous have so many doubts about what Thai Immigration wilt or won't accept.

No need. We all know the rules, and as they didn't change: No Embassy Letter means no Extension using incomes method. Clear.

Maybe in coming months Thai Immigration may announce a change on that, but I doubt they will for 2 embassies only...

 

[Joe Mcseismic]

7 minutes ago, DogNo1 said:

Copies of my American bank statements showing an amount equivalent to over 65,000 baht being deposited in my account on a monthly basis have been accepted by Thai immigration since I started doing extensions more than ten years ago.  I can envision a scenario in which Thai immigration might find the variety of documents of proof submitted terribly confusing and change the proof requirement to a Thai bank book and letter from that bank.  Actually, various forms of proof have always been required in addition to the embassy affidavit of income at the discretion of the immigration officer.  It doesn't seem likely that they will require a new type of proof of income unless they find understanding the forms of proof of income newly submitted overwhelming.  If they start to require only Thai-based proof of income, for many of us the 800,000 in the bank will be the most simple to manage, as Cheryl says.  Some warning or grandfathering clause would be needed to allow those of us without the money in the bank to get it in three months before the date of our extension renewal.  Let's hope that immigration will consider the impact if they suddenly rule that only money held in Thailand will be accepted as proof of income.

And along with all this proof, did you have the letter from the US embassy, or, was it not necessary?

[galt67]

7 hours ago, JLCrab said:

... or just get the 5 year Elite Visa and screw the agents and the IMM office.

The 20-year Elite Visa is a better 'value'.

 

5 years=500k

20 years=1 million

[david555]

1 minute ago, galt67 said:

The 20-year Elite Visa is a better 'value'.

 

5 years=500k

20 years=1 million

I don't understand the reasoning  …. 1 million you loose anyway...., I you have 1 mill. just keep it for the 800 k system , so it stay yours ,just 3 months a year no use from it ….

[bangsaenguy]

On 10/26/2018 at 12:55 PM, Kerryd said:

I'm actually surprised that they even let people use the "Income" letters in the first place.

 

After all, I have to keep my "800k" in a Thai bank account for at least 3 months prior to my Extension and Thailand expects that is the money I will need to live on for the next year.

Meanwhile, people using Income letters don't have to show any money actually coming in to Thailand at all. For all they (Immigration) knows, all that pension money (if it even exists in the first place) is going to a bank in (whatever foreign country) and the people claiming to have that income are actually trying to get by on 50 baht a day. Or less.

 

And for every person on here that claims they are "uber rich" and spending far in excess of "65,000" per month, there are probably a dozen that get a tenth of that amount, or nothing at all (but still get an Income letter every year that claims otherwise).

Maybe that is why Thailand now wants to see a (Thai) bank book showing regular deposits of 65,000/month. To prove all you "uber rich" people actually have the amounts you've been claiming to for so many years.

 

Want to bet that most of them do not get anywhere near as much as they claim ?

I currently use the 65,000 method with a document from the Embassy. My pension is deposited into a US account. I recall people using Bangkok Bank, New York as a Thai bank. How does this work? I can certainly show bank statements proving the deposits each month into my US bank

[galt67]

2 hours ago, JLCrab said:

From the website FAQ it says the application process could take from 20 working days to 3 months.

https://www.thailandelite.com/faqs

A friend and I, both got the 20-year visa in approximately two weeks from date of initial contact.

 

I have found the TE personnel excellent to deal with.

 

 

[johnjohn2]

3 minutes ago, bangsaenguy said:

I recall people using Bangkok Bank, New York as a Thai bank. How does this work?

You can get direct deposit to BKK Bank, NY. Details and paperwork avail on their web site. A bit involved to discuss it here. Web site is pretty detailed. You can also SWIFT Transfer money from your bank to BKK Bank through the NY branch for a very small fee. But after April 2019 the transfers have to be ACHI. 

[OneeyedJohn]

I am on Page 40 and in the time itakes to read one page the thread has expanded a further 3 pages.

 

Any chance a mod could summarise  ( perhaps every 20 pages ) what has gone before and what is known as fact.

 

Thanks

OeJ