Rental income/using it as proof of income for retirement visa?

[ArickChaiyaphum]

I just found out that rental income is separate from employment income! I was not going to argue without.

There has been a few topics around rental income. Yes 30 percent was deducted from the total rental income amount, on the tax form 94.

So now is the question about a disabled non Thai relative as another deduction. Also using your tax return certified as proof of income for the retirement visa. I will ask immigration on the next visit. Has anybody else have info and first hand experience doing the above.

 

 

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[kraftyhl]

So as of 1/1/19 Thai Embassy/Consulate are out of the income verification business. When I asked CNX Thai Immigration about this the other day they did not know anything about it. They (the big they!) also said that without USA Consulate income verification they will only rely on 800,000 (400,000 marriage visa) written certification by a Thai bank. I'm sure this will change for better or for worse. I would appreciate any updates.

[1FinickyOne]

Rental income I assume is a variable... if your tenant leaves tomorrow, where is the income. I would guess it would be the same with income from stock market as well,.. 

[TerryLH]

1 hour ago, kraftyhl said:

So as of 1/1/19 Thai Embassy/Consulate are out of the income verification business.

They used to do that?

[wgdanson]

5 minutes ago, TerryLH said:

They used to do that?

I take it you mean 'Are they going to do that?'      Do you read many TV posts?     

Edited November 1, 2018 by wgdanson

[wgdanson]

1 hour ago, kenk24 said:

Rental income I assume is a variable... if your tenant leaves tomorrow, where is the income. I would guess it would be the same with income from stock market as well,.. 

But whatever income you already have got counts towards your ANNUAL income, doesn't matter if you get Bht1000 one month and Bht 10,000 the next.

[ArickChaiyaphum]

So as of 1/1/19 Thai Embassy/Consulate are out of the income verification business. When I asked CNX Thai Immigration about this the other day they did not know anything about it. They (the big they!) also said that without USA Consulate income verification they will only rely on 800,000 (400,000 marriage visa) written certification by a Thai bank. I'm sure this will change for better or for worse. I would appreciate any updates.

I was told last week to not to use the UK passport and to just use the Canaduan passport and to get a certified letter from the Canadian Embassy Because I have a Canadian passport.

Immigration visited my business today, but I did not bother to go into asking them regarding my Thai tax return

 

 

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[ArickChaiyaphum]

Rental income I assume is a variable... if your tenant leaves tomorrow, where is the income. I would guess it would be the same with income from stock market as well,.. 

My rental income is not variable! It is set and paid in full in advanced. The tenant won’t be going anywhere If it does fall short. Thailand will be having a huge Pneumonia Chiang Mai will be in ICU

 Don’t assume rental income is a one off tenant.

 

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[1FinickyOne]

3 minutes ago, ArickChaiyaphum said:

My rental income is not variable! It is set and paid in full in advanced. The tenant won’t be going anywhere If it does fall short. Thailand will be having a huge Pneumonia Chiang Nai will be in ICU


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not all rent is paid in advance - - but you know that. Expats tend to overestimate their own personal 2 cents into the economy. Thailand was fine before you were here, be fine when we leave... 

[1FinickyOne]

15 minutes ago, wgdanson said:

But whatever income you already have got counts towards your ANNUAL income, doesn't matter if you get Bht1000 one month and Bht 10,000 the next.

going back in time yes, - not going forward... I am not sure how they figure it.. for me, I just leave the 800k there. I live here. It is not an inconvenience.

[ArickChaiyaphum]

The Canadian embassy. Has no Future plans of stopping certified income letters for retirement as of yesterday and no plans of changing in the near future. As for the UK and USA embassy I was clearly told not to bother and to use my Canadian passport.

I am just watching this space to see if The Canadian, Australia and New Zealand Embassy end up changing to.


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[ArickChaiyaphum]

not all rent is paid in advance - - but you know that. Expats tend to overestimate their own personal 2 cents into the economy. Thailand was fine before you were here, be fine when we leave... 

I am glad I did what I did 4 years ago. Only the next 5 to 10 years will continue to tell

 

 

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[oldrunner]

I deposit $500 to $600 to my Thai bank. It does not stay there as my wife uses it. If I get a statement from Bangkok Bank verifying this, will that satisfy the requirement for a one year visa. I am married to the same Thai wife for over 30 years.

[ubonjoe]

7 minutes ago, oldrunner said:

I deposit $500 to $600 to my Thai bank. It does not stay there as my wife uses it. If I get a statement from Bangkok Bank verifying this, will that satisfy the requirement for a one year visa. I am married to the same Thai wife for over 30 years.

It does not meet the requirements for a extension of stay based upon marriage. You must have proof of 40k baht income or 400k baht in a Thai bank in your name only for 2 months.

[TerryLH]

11 hours ago, kraftyhl said:

So as of 1/1/19 Thai Embassy/Consulate are out of the income verification business.

 

9 hours ago, TerryLH said:

They used to do that?

 

9 hours ago, wgdanson said:

I take it you mean 'Are they going to do that?'      Do you read many TV posts?

No, I meant what I said.  I wasn't aware the Thai Embassy / Consulate was ever in the income verification business.

[wgdanson]

3 hours ago, TerryLH said:

 

 

No, I meant what I said.  I wasn't aware the Thai Embassy / Consulate was ever in the income verification business.

Sorry, did not read it properly.

[atyclb]

anyone from the usa have experience obtaining a letter of "no criminal history" if so does it have a specific name?  is it national or from state of residence?

 

does usa embassy in thailand notarize it?

[Kevbo]

10 hours ago, TerryLH said:

 

 

No, I meant what I said.  I wasn't aware the Thai Embassy / Consulate was ever in the income verification business.

Perhaps he means British Embassy ..

[kiwikeith]

On ‎11‎/‎1‎/‎2018 at 11:05 PM, wgdanson said:

But whatever income you already have got counts towards your ANNUAL income, doesn't matter if you get Bht1000 one month and Bht 10,000 the next.

if you declare rental income to the IRS then it will be included in your annual income statement.

This is a legal document, why do you need embassy verification if you have a letter from IRS.

Or will Thai immigration not accept an official Government document.???

[steve187]

11 minutes ago, kiwikeith said:

if you declare rental income to the IRS then it will be included in your annual income statement.

This is a legal document, why do you need embassy verification if you have a letter from IRS.

Or will Thai immigration not accept an official Government document.???

correct, they require a letter from your embassy, but may need proof of your income

[JackThompson]

On 11/1/2018 at 5:20 PM, kenk24 said:

Expats tend to overestimate their own personal 2 cents into the economy. Thailand was fine before you were here, be fine when we leave... 

"Will be fine" in the macro-economic sense - so won't harm big-name CEOs and such.  But not fine in terms of the loss of multiple Thai incomes, supported by each expat's foreign-sourced funds spending (many Thai salaries-worth, per-each expat).  Those folks' lives matter. 

 

If you speak to them, they will decry policies that force us out (thus, from patronizing their businesses), as well as noting that our "replacements" don't support their businesses.

 

On 11/1/2018 at 5:23 PM, ArickChaiyaphum said:

I am just watching this space to see if The Canadian, Australia and New Zealand Embassy end up changing to.

Australia has fallen, already.