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Update: New Thai immigration rules for income!


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1 minute ago, luckyluke said:

I don't underestimate the inventivity/creativity of some to make money/find loopholes.

From the (almost) last lines of Hitchcock's Strangers on a Train of the now dead Bruno:

#1: Who was he, bud?
#2: Bruno ... Bruno Antony. Very clever fellow.

 

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I've always used the 800k route.

Also, I would've met the qualification of transferring an average of 65k per month. The reason I've never done it this way was the necessity (pain) of dealing with the Embassy/Consulate and paying their large fees just to certify a document.

If Immigration will now just accept evidence from the bank to prove transfers, always part of the 800k method anyway, it would free up the money now held in a dead account.  

For someone like me, in future, my bank book and statements should be sufficient for Immigration to grant the extension without me having to also hold the 800K in a dead account.

My home country income is paid into my bank there, and I transfer large  amounts to my Thai account periodically when exchange rates are favorable. Typically 4-5 times a year.

So my question is - with the proposed changes, do the transfers have to be monthly, or can it be averaged out over the year?

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3 minutes ago, Old Croc said:

So my question is - with the proposed changes, do the transfers have to be monthly, or can it be averaged out over the year?

No one knows. If it averages over the year, than seasoning has no meaning. They have to transfer only 65x12 (780k Baht)

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10 minutes ago, amexpat said:

The Bangkok Bank account statement identifies it as "International Transfer".

I transfer using Transferwise only. Last year all my transfers show "international transfer" except two. I transfer almost every week 15K. I am closely watching this year but it just started and made only one transfer that arrived yesterday and shows "international transfer". 

Edited by onera1961
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It is almost certainly a push from the Thai banks so that they can use your money. If the money is in your account in some other country, they can't earn on it while it sits in your account. The next step will be to manipulate the fees such that you would rather hold larger sums in your Thai accounts rather than making more frequent, smaller transfers.

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1 minute ago, onera1961 said:

I only transfer using Transferwise. Last year all my transfers show "international transfer" except two. I am closely watching this year but it just started and made only one transfer that arrived yesterday and shows "international transfer". 

Well, if the scenario that unfolds required 12x65k transfers from outside Thailand into a Thai account, your extension based on income, just maybe got rejected! 

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19 minutes ago, KhaoYai said:

Interesting, people on other threads complaining about it getting more and more difficult to live in Thailand and that the rules keep changing.  Then on this thread people are talking about juggling money between bank accounts so it appears the minimum income is received when in fact it is not.

 

I wonder why the rules keep changing?

 

8 minutes ago, onera1961 said:

To accommodate desperate Americans and British who have fallen in love with this country and want to live here. ????

Indeed.

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10 minutes ago, Lacessit said:

1. True. The question then becomes how many people are on the line, and how many people object to transferring more than necessary into Thailand.

2. I don't know about other countries. Centrelink in Australia will transfer pensions to a Thai bank. I don't know if fees are associated, because I have never used that route.

The maximum Australian pension is about 40K baht/month, so an Australian would have to top up to 65K/month with other funds. Fees there.

1. There are undoubtedly some that are going to lose out, but unless they have a massive shortfall there are options.

 

I suspect the biggest losers will be those that, under the current arrangements, have  inflated their income, quoted gross income to cross the line, made up a non existent income. Of which I believe there are a lot.

 

I wouldn’t have thought keeping 320K in the bank would be too much of a problem for most genuine retirees.

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Good luck with the following years extension when TI see you playing the 65k Merry go round when they see your bank book. If people choose to play these silly games, you will have the Malaysian model bond system in place here faster than even you could of ever imagined.
You need 2 bank accounts. The one showing your pension and the other used to send money back out again and back to the official account
Can't see how TI could find out
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27 minutes ago, onera1961 said:

To accommodate desperate Americans and British who have fallen in love with this country and want to live here. ????

Actually the rules were far more accommodating before there really were any!

(EG the restrictions now applied to issuance of Non-Imm O ME visas in UK consulates).

Edited by jacko45k
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7 minutes ago, madmen said:

You need 2 bank accounts. The one showing your pension and the other used to send money back out again and back to the official account
Can't see how TI could find out

You mean other than having the same name on both accounts?

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51 minutes ago, elviajero said:

2. How do people send their monthly pension income to Thailand now?

Very Easy- I have 4 Bank Accounts in an American Bank and use online banking. Then I use  a Thai aTM to withdraw  more than 65K each month.  Only charge is 220 Baht at the Thai atm.

 

Now, I will be spending $40 per transfer and have to call my bank each month to get a security code- go online and fill out all the transfer data when I could simply show my  banking details to Thai Immigration which even shows the exact hour and day and ATM location here in Thailand.  Absolute proof. One sheet to look at plus the ATM cards if they ask plus the  account summary shows the income stream each month direct deposited. 

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11 hours ago, Spidey said:

I still wonder how you prove that the 65k baht is from your home country. Foreign transfers aren't always clear in some bank books.

 If you could show a withdrawal from your foreign bank, and a similar deposit in your Thai bank a few days later, would that not be sufficient evidence?   

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1 minute ago, jacko45k said:

Not many machines can issue this, more usual is a 20,000 or 25,000 max per transaction. Guess what, each one is 220 baht!

Thai military Bank 30K per transaction- 220 Baht fee.  No need for bank transfers- account statement shows exact  amount, date and location of transaction backed up by the Thai ATM slip. 

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They couldn’t. But have you ever tried transferring money out of a Thai bank account that wasn’t earned in a Thailand, or originally received from abroad? 
No but there appears to be some 3rd party accounts that have been mentioned on this thread like dee and transfer wise.

I'm sure people will find a way
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