Using the Combination Method to get to 800,000

[overherebc]

2 hours ago, BoBoTheClown said:

 The monthly transfers must be from income like a pension or a salary.  If they are and you meet the monthly required baht amount you are good. The instructions are simple. 

Combo is for retirement and means you can't work so a 'salary' would mean you are working so I don't think it would fly.

[Suradit69]

3 hours ago, BoBoTheClown said:

The monthly transfers must be from income like a pension or a salary.  If they are and you meet the monthly required baht amount you are good.The instructions are simple. 

Not sure what "instructions" you're reading Bobo.

 

In the past, the existence of income was sufficient. No requirement that it be transferred into a Thai bank. And the type of acceptable income reported on an embassy "letter" pretty much depended on what the embassy was willing to "certify."

 

If immigrations does allow evidence that you deposited Baht 800,000 over a 12 month period, but won't accept embassy affidavits or printouts from foreign banks as proof, then how will they know whether it comes from a pension? If it's from a salary and you're claiming you're retired, that may raise more questions. 

 

They're not very picky about where the Baht 800,000 in the bank came from if you use that method, so there's nothing to say that won't be equally content to see Baht 65,000 going into your account monthly from abroad regardless of whether it comes from a pension or whatever.

 

We'll have to wait and see.

 

 

 

 

 

 

 

Edited November 12, 2018 by Suradit69

[Suradit69]

2 hours ago, sometimewoodworker said:

2 hours ago, bikerlou47 said:

Do you have to prove that the funds are coming from a foreign bank?

Quite likely because unless you are on a Thai family extension you can't legally work in Thailand and if it is income from investments in Thailand you don't need the income method, but No information yet

Quote

Must the funds over the pension amount be seasoned for 3 months?

Extremely unlikely as they would be income and it would commonly be used not saved but No information yet.

When you use terms like "Thai family extension," your credibility sinks rapidly since there is no such thing.

 

He asked if the funds "over the pension" would need to be seasoned, not the income portion.   

 

 Yes, if you are currently combining income and money in the bank, most offices want the money in the bank portion to be seasoned for three months or longer. It was once thought that that requirement didn't apply to the combination method as long as the money in the bank part was there when your applied, but most offices do now expect it to be seasoned for three months under the current application of the rules.

 

 

 

 

 

Edited November 12, 2018 by Suradit69

[Patriot1066]

2 hours ago, jimn said:

No its not if you are British, American or Australian, because the embassy letters will be finished then. The combination method requires an embassy letter. Please dont listen to people who tell you that you dont need one. If TI changes their process then fine but until they do you need an income letter.

That is sadly true and if they change they will need to let all the immigration staff know or it will be chaos.

[sometimewoodworker]

36 minutes ago, Suradit69 said:

When you use terms like "Thai family extension," your credibility sinks rapidly since there is no such thing.

I didn't bother to list the spouse of, or legal parent of a Thai person separately and put them together as Thai Family extension(s), and on either of them you can get a work permit so have a legal Thai income.

 

The seasoning requirement in a combination application is variable some offices require it some don't the regulations are sufficiently worded, and the offices independent enough to permit either interpretation.

 

Oh fount of all knowledge 

[sometimewoodworker]

1 hour ago, overherebc said:

Combo is for retirement and means you can't work so a 'salary' would mean you are working so I don't think it would fly.

Nothing to stop you working outside Thailand while on that extension.

[swissie]

3 hours ago, Jingthing said:

Might soon be the only way without letters!

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

And 2 years from now, only "Elite-Card" holders will be allowed to stay in Thailand on a permanent basis.

To some, this may come as the ultimate (overnight) surprise. Certainly not to me.

[swissie]

By no more accepting "income-letters" and not offering alternative income verification methods, Thai Immigration has sent a clear message: If the Farang does not have the 400/800K in a Thai Bank, he better start packing his bags.
End of message.

[Jingthing]

1 minute ago, swissie said:

And 2 years from now, only "Elite-Card" holders will be allowed to stay in Thailand on a permanent basis.

To some, this may come as the ultimate (overnight) surprise. Certainly not to me.

Well even with the current status quo everyone coming in should well understand that all of us on annual extensions are on a one year leash. Take it or leave it.

[swissie]

3 minutes ago, Jingthing said:

Well even with the current status quo everyone coming in should well understand that all of us on annual extensions are on a one year leash. Take it or leave it.

A good place to invest ones live savings in things that don't fit into a suitcase. Sorry, off topic.

[Patriot1066]

3 minutes ago, swissie said:

By no more accepting "income-letters" and not offering alternative income verification methods, Thai Immigration has sent a clear message: If the Farang does not have the 400/800K in a Thai Bank, he better start packing his bags.
End of message.

Maybe that is their agenda. In the West it was originally easy to move between countries but has become mostly harder.

 

As Thailand develops will it want to bother with what they consider poor foreigners that they may consider don't contribute?

 

In time they may well put the 400/800 limits up as inflation eats away at the amounts real term value which may make Thailand less attractive to retirees?

[Maestro]

Removed a nonsensical post.

 

[Maestro]

Removed an off-topic post.

[JackThompson]

24 minutes ago, Patriot1066 said:

As Thailand develops will it want to bother with what they consider poor foreigners that they may consider don't contribute?

 

In time they may well put the 400/800 limits up as inflation eats away at the amounts real term value which may make Thailand less attractive to retirees?

Everyone contributes - or you don't eat or sleep indoors.  It's not like the West, where foreigners come in and go on the dole - making the citizenry poorer. 

If the authorities don't care about the well-being of the multiple citizens that each of us support with our "free money" flowing in from other countries - then yes, they might make it even harder for us to continue doing that - and yes, it will be less attractive / impossible for more and more to do so.

 

4 hours ago, Thingamabob said:

The simplest way by far is to go the 800k route. If that is too much, or too difficult, for you I fear you may struggle to survive here. 

Many did fine without that much cash here for decades - it's an inexpensive place to live.  But if you mean "struggle to survive immigration" - then you may be right.

Edited November 12, 2018 by JackThompson

[JackThompson]

4 hours ago, sometimewoodworker said:

... if it is income from investments in Thailand you don't need the income method,

Only certain types of bank-accounts are acceptable for the "in the bank" money - certainly not a stock-portfolio or condo assets.  Some of those folks would have to cash-out a chunk of their portfolio/investments to put money in an "acceptable" type of bank-account.  Otherwise, they will need the income-method.

[JohnnyBD]

Everyone seems to be assuming that TI will accept the monthly income method after the income letters & affidavits are no longer valid, but it doesn't seem that they currently accept the income method now unless you use the income letters or affidavits. So, if TI does accept the monthly income method going forward, we still don't know what documents they will require to prove income or what type of income will be accepted.

Edited November 12, 2018 by JohnnyBD

[Jingthing]

48 minutes ago, JohnnyBD said:

Everyone seems to be assuming that TI will accept the monthly income method after the income letters & affidavits are no longer valid, but it doesn't seem that they currently accept the income method now unless you use the income letters or affidavits. So, if TI does accept the monthly income method going forward, we still don't know what documents they will require to prove income or what type of income will be accepted.

That's correct which is why we shouldn't be assuming what we can't possibly know yet.

[Patriot1066]

3 hours ago, JackThompson said:

Everyone contributes - or you don't eat or sleep indoors.  It's not like the West, where foreigners come in and go on the dole - making the citizenry poorer. 

If the authorities don't care about the well-being of the multiple citizens that each of us support with our "free money" flowing in from other countries - then yes, they might make it even harder for us to continue doing that - and yes, it will be less attractive / impossible for more and more to do so.

 

Many did fine without that much cash here for decades - it's an inexpensive place to live.  But if you mean "struggle to survive immigration" - then you may be right.

I am sure everyone contributes your correct 100%, but there is a certainty they are looking at clamping down on funds and amounts people actually have.

 

The elites card scheme may point in the direction they are looking at for longer term funding. And as you get older income tends to depreciate partic if from the U.K. where foreign expats Old age pensions are froze. So whilst at the moment it doesn't affect me, in time it may well do as I still have UK work and a modest private pension, but things can change very quickly which is a worry no matter what our current situations are.

 

So it's hard to not worry about good people contributing their bit and doing no harm that will be affected in potentially adverse ways. 

[sometimewoodworker]

6 hours ago, JackThompson said:

Only certain types of bank-accounts are acceptable for the "in the bank" money - certainly not a stock-portfolio or condo assets.  Some of those folks would have to cash-out a chunk of their portfolio/investments to put money in an "acceptable" type of bank-account.  Otherwise, they will need the income-method.

Absolutely, though if you are getting a reliable (a stock portfolio is going to be variable) income that is high enough the "chunk" that you would have to convert would be quite small as a percentage of your total, probably less than 5% (I have never heard of a reliable investment that after tax and charges is returning over that long term)

 

So yes they would have to change a small part of their wealth to comply.

Edited November 12, 2018 by sometimewoodworker

[overherebc]

8 hours ago, sometimewoodworker said:

Nothing to stop you working outside Thailand while on that extension.

True.

[JackThompson]

3 hours ago, Patriot1066 said:

I am sure everyone contributes your correct 100%, but there is a certainty they are looking at clamping down on funds and amounts people actually have.

Or collecting more agent-revenue tribute, instead of letting embassies interfere with their "action." 

 

I would expect "money in the bank" to change next - either more or longer seasoning, either of which would force more to the agents. 

 

But, I'm not predicting a time-frame on that; this letter-move could keep them living well (better than people who actually produce for the market) for a good while.  But, eventually, the number with hands-out, who need to be kept quiet with shares of the loot, will eat up the gains.

 

Quote

The elites card scheme may point in the direction they are looking at for longer term funding.

Which boils down to approx:

4x agent-fees cost - paid 5 years in advance, or

2x agent-fees cost - paid 20 years in advance

 

Quote

And as you get older income tends to depreciate partic if from the U.K. where foreign expats Old age pensions are froze. So whilst at the moment it doesn't affect me, in time it may well do as I still have UK work and a modest private pension, but things can change very quickly which is a worry no matter what our current situations are.

 

So it's hard to not worry about good people contributing their bit and doing no harm that will be affected in potentially adverse ways.  

Yes, but we, at least, have other options of places to live.  Thais - not so much.  Given private-pensions are disappearing for a larger-segment of the Western population, wages are frozen or falling, and govt-payouts aren't going up (much, if at all) - the goal of Thai policy should be to adjust to maximize foreign-capital spending into the country.  If they want to limit retirees to certain areas to avoid feeling overrun, fine - but don't throw away all those Thai jobs for nothing.  It makes we wonder if hte old-guard actually resents the existence of a Thai middle-class.

 

As well, "tightening" policy is only going to empower and strengthen other nations in the region, because that is where most of the expats will end-up spending their money.  We aren't going back to our home-countries.

Edited November 13, 2018 by JackThompson

[malagateddy]

And 2 years from now, only "Elite-Card" holders will be allowed to stay in Thailand on a permanent basis.
To some, this may come as the ultimate (overnight) surprise. Certainly not to me.

Swissie..do you have a crystal ball? or do you socialise with senior Thai Govt officials?
Me..I go along the lines of..yesterday is history and tomorrow's a mystery

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