FYI - U.S. Consulate Chiang Mai town hall meeting November 20th Chiang Mai University

[moe666]

9 hours ago, ThaiBob said:

Official 1099's cannot reproduced by tax software. Yes, a person could fake a 1099 using tax software but it is an unofficial document.  Legal 1099's have a standardized format and received in the mail. Tax Software 1099's are used as data input forms and printed for record keeping purposes. Of course, this entire discussion can be avoided if our Embassy would setup computers so we can login to our government accounts and print to embassy printers (as mentioned in an earlier post). The Embassy should have no issue with verification as the forms we print for them unequivocal, undeniable factual coming from SSI and IRS systems. 

Bob you are dreaming right, they can only spend 2 days a week taking care of your daily need notary, lost passport and what ever. By the way where is the money coming from to buy computers and printers King Rump cut the budget for State Department.

[moe666]

I was hoping for more info about the meeting but as usual these types of threads are hi-jacked to discuss non starters from the get go. Boys and girls no one knows squat not even the guy you come into contact with at immigration. Wait for the word from the top then you will know if you can stay or have to go, until then all this talk about dividends and capital gains is a waste of time and energy

Edited November 22, 2018 by moe666
spelling

[JLCrab]

7 hours ago, moe666 said:

Wait for the word from the top then you will know if you can stay or have to go, until then all this talk about dividends and capital gains is a waste of time and energy

Sure but this way, folks get to chime in with their "Well what about me? My situation is ..." scenario.

[bubba]

Yes, but is that not the point of this thread and the US consular meeting as well? "What about me" is certainly something on many of our minds with the cessation of income verification letters. Yes, there are those of us who are not yet receiving any kind of government pension but still have substantial income from dividends, capital gains and other revenue streams. Verifying those forms of income is a grey area and we need some sort of guidance and clarification soon now that the income verification letters are gone.

[JLCrab]

3 hours ago, bubba said:

there are those of us who are not yet receiving any kind of government pension but still have substantial income from dividends, capital gains and other revenue streams. Verifying those forms of income is a grey area and we need some sort of guidance and clarification soon now that the income verification letters are gone.

It seems to me, lacking official guidance on the monthly income route to extension of stay, that the best thing you can do right now is to start putting 65K+ baht per month int a Thai bank account with an FTT transaction code next to it ... or just hang out in the grey area and wait.

[moontang]

1 hour ago, JLCrab said:

It seems to me, lacking official guidance on the monthly income route to extension of stay, that the best thing you can do right now is to start putting 65K+ baht per month int a Thai bank account with an FTT transaction code next to it ... or just hang out in the grey area and wait.

Decent advice.  IMO, at minimum, they will want to see the income deposited in  a Thai bank account.  As witnessed here, many are racking their brains devising schemes to deposit and redeposit money in an attempt to show income.  It is unrealistic to believe that will be acceptable.  If that were the case, they would have never required the 400/800 to be in a Thai bank.  Many are trying to cheat the cheaters...Asians, as a group, are huge system players.  Even the lowest IO will know of attempts to pad financials, to obtain loans, or mortgages.  Sometimes, it isn't the criminal act itself, but committing the act as a foreigner and thinking you can get away with it.  Petty white collar crime?  Best to do that at home.  Start doing the 65k, and be prepared to top up three months before, just in case.  It is obvious that the dung will hit the fan in early January, as many don't stay on top of Immigration events, as the TM30 pleas for help are still happening three years after the first documented victims.

Edited November 23, 2018 by moontang

[kannot]

On 11/21/2018 at 5:20 PM, Thaidream said:

some simple math

Its  not their forte im afraid

[Sheryl]

It seems to me, lacking official guidance on the monthly income route to extension of stay, that the best thing you can do right now is to start putting 65K+ baht per month int a Thai bank account with an FTT transaction code next to it ... or just hang out in the grey area and wait.

Not all banks show FTT code.

But I agree that showing 65k a month coming in to a local bank acct is likely to end up being the requirement.

Hopefully an average of 65k not 65k each month but who knows.

1099 is a uniquely American document. Remember TI is dealing with multiple nationalities. IMO no way can they sort through all the types of documentation possible for all nationalities. They are going to have to settle on a simpler approach.



Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

[JLCrab]

33 minutes ago, Sheryl said:

Not all banks show FTT code.

I said in the above post "the best thing" not the only thing. And to me the 'best' thing is also a 65K+ baht FTT deposit showing in every month without exception.

 

And if not the "not less than" 65K baht deposit every and each month, then you are asking the IMM officers to solve a puzzle.

Edited November 23, 2018 by JLCrab

[ThaiBob]

Bangkok Bank shows a FTT when I use TransferWise.

 

[Sheryl]

1 hour ago, ThaiBob said:

Bangkok Bank shows a FTT when I use TransferWise.

 

Kasikorn bank shows only "TRN" for transfer, both  domestic and international. You cannot tell where the funds came from, only that it was an incoming (or outgoing) transfer.

 

 

[JimGant]

30 minutes ago, Sheryl said:

Kasikorn bank shows only "TRN" for transfer, both  domestic and international. You cannot tell where the funds came from, only that it was an incoming (or outgoing) transfer.

 

 

What does the online account summary say? With Bangkok Bank, ACH, TransferWise, and SWIFT transfers are all described as 'International Transfers."

[Sheryl]

I don't recall it ever saying that but cannot check now as online only shows transactions in past 6 months and last transfer was longer ago than that

[sfokevin]

I do swift $2k transfers from my US brokerage account to Bangkok Bank NY Branch monthly and the online statement they are listed as “International Transfers”...

 

The only problem I foresee is that BK Bank only keeps 6 months history... I seem to recall someone saying a one year report could be requested from Bangkok main office but it would take several days to get ;-(.... Hopefully the banks will gear up and provide a letter similar to the 800k letter confirming total foreign transfers in for the previous year (for a 200 baht fee)... ????

 

Edited November 23, 2018 by sfokevin

[ThaiBob]

1 hour ago, JimGant said:

What does the online account summary say? With Bangkok Bank, ACH, TransferWise, and SWIFT transfers are all described as 'International Transfers."

Yes, my online account also shows" International Transfers " but my passbook shows "FTT".  TI typically asks for copies of your passbook. 

[Sheryl]

Again, depends on your bank. They cannot tell from my passbook if a transfer was international. Apparently with some banks you can.

 

Doesn't matter unless they decide to require proof that funds came from abroad.

[jackdd]

1 hour ago, Sheryl said:

Again, depends on your bank. They cannot tell from my passbook if a transfer was international. Apparently with some banks you can.

 

Doesn't matter unless they decide to require proof that funds came from abroad.

I can't really imagine that they will ever accept 65k comming into a Thai bank account alone as prove for income, this is way too easy to fake (If they do accept this i really wonder what this change was for)

I send myself 65k from my foreign account, withdraw it as cash and send it back to my foreign account, quite easy and cheap to do with for example https://www.dee.money/

Just repeat this every month and the bank book shows 65k income per month. With the current buy / sell rates for USD and fees listed on their website this would then cost 810THB per month.

Edited November 23, 2018 by jackdd

[onera1961]

57 minutes ago, jackdd said:

I can't really imagine that they will ever accept 65k comming into a Thai bank account alone as prove for income, this is way too easy to fake (If they do accept this i really wonder what this change was for)

I send myself 65k from my foreign account, withdraw it as cash and send it back to my foreign account, quite easy and cheap to do with for example https://www.dee.money/

Just repeat this every month and the bank book shows 65k income per month. With the current buy / sell rates for USD and fees listed on their website this would then cost 810THB per month.

It will be easy to catch because only few outlets exist for sending Thai baht to a foreign banks. And most probably all transactions go through a centralized ledger (not block chain) Any AI software can catch it. 

Edited November 23, 2018 by onera1961

[sfokevin]

My bet is that you will be able show up with an impressive stack of documents showing your income which the officer will pretend to review and then they ask to see banking documents from a Thai source to substantiate your income claim... If you can not come close to showing them a good portion of your stated 65K monthly income coming into Thailand to support yourself you will be looked upon dimly... No banking documents and you will be rejected... 

Edited November 23, 2018 by sfokevin

[moontang]

4 minutes ago, sfokevin said:

My bet is that you will be able show up with an impressive stack of documents showing your income which the officer will pretend to review and then they ask to see banking documents from a Thai source to substantiate your income claim... If you can not come close to showing them a good portion of your stated 65K monthly income coming into Thailand to support yourself you will be looked upon dimly... No banking documents and you will be rejected... 

Correct.

[JackThompson]

1 hour ago, jackdd said:

I can't really imagine that they will ever accept 65k comming into a Thai bank account alone as prove for income, this is way too easy to fake (If they do accept this i really wonder what this change was for)

I send myself 65k from my foreign account, withdraw it as cash and send it back to my foreign account, quite easy and cheap to do with for example https://www.dee.money/

Just repeat this every month and the bank book shows 65k income per month. With the current buy / sell rates for USD and fees listed on their website this would then cost 810THB per month.

That works out close to an agent's fee, and the agent-process is simpler, so maybe they will not see this as a threat to their extra-money - which is what I think this change was "for," with embassy-letters seen as undercutting that business.

[jackdd]

1 hour ago, onera1961 said:

It will be easy to catch because only few outlets exist for sending Thai baht to a foreign banks. And most probably all transactions go through a centralized ledger (not block chain) Any AI software can catch it.  

And you think Thailand would use something like that? ????

If somebody should be afraid he could let a friend send it back

[onera1961]

15 minutes ago, jackdd said:

And you think Thailand would use something like that? ????

If somebody should be afraid he could let a friend send it back

May be, I don't know. If friend sending it back, it complicates but it is still can be caught using AI software.

May be the whole point of this embassy letter is to drive people who don't have required money to Agents. If so, agents' businesses are not going die out as some posters have suggested.

 

Or may be they want to drive everybody to 400/800 requirement.

Only time will tell. 

Edited November 23, 2018 by onera1961

[JLCrab]

7 hours ago, Sheryl said:

Again, depends on your bank. They cannot tell from my passbook if a transfer was international. Apparently with some banks you can.

So does that mean (should income based extensions be allowed at all) that they should not require an international transfer designation as proof on all deposits or that you should change banks?

[kingstonkid]

Ok so the way I am reading this us that if I deposit 70k into my bank account every month and take it out in pieces over the next month.  Then deposit it back into the account I am golden.

 

Can I use my Thai tax return as proof

 

Is this correct.

 

Edited November 24, 2018 by kingstonkid

[ubonjoe]

6 minutes ago, kingstonkid said:

Ok so the way I am reading this us that if I deposit 70k into my bank account every month and take it out in pieces over the next month.  Then deposit it back into the account I am golden.

Not if they were all domestic transfers. That is why immigration will be wanting the transfers to come from abroad.

6 minutes ago, kingstonkid said:

Can I use my Thai tax return as proof

Not unless it was legally earned here from investments and etc.

[JLCrab]

8 minutes ago, kingstonkid said:

Ok so the way I am reading this us that if I deposit 70k into my bank account every month and take it out in pieces over the next month.  Then deposit it back into the account I am golden.

You mean like this?

[Dante99]

19 minutes ago, ubonjoe said:

Not if they were all domestic transfers. That is why immigration will be wanting the transfers to come from abroad.

 

Is that for sure now?

[wwest5829]

On 11/22/2018 at 9:26 PM, moe666 said:

I was hoping for more info about the meeting but as usual these types of threads are hi-jacked to discuss non starters from the get go. Boys and girls no one knows squat not even the guy you come into contact with at immigration. Wait for the word from the top then you will know if you can stay or have to go, until then all this talk about dividends and capital gains is a waste of time and energy

You have both a copy of the documents handed out in the meeting and a report by someone attending already entered on this thread. These were posted to help people learn about the meeting in Chiang Mai.

[ubonjoe]

25 minutes ago, Dante99 said:

Is that for sure now?

It has been required by immigration for some time now if they asked for backup proof for proof of income from an embassy,

Although not stated in the rules it can be assumed that pension and other income would be from abroad when apply for extensions based upon retirement and marriage. 

Income earned here from investments and etc can be proven by a Thai tax return. For marriage extensions income from working here is allowed and the proof is by payment of taxes.