Update: New Thai immigration rules for income!

[Spidey]

2 minutes ago, KhunFred said:

If you don't work, where else could the income be from?  You may be dwelling on a very small thing, here.

Maybe but probably not. TI don't work on logic. They want to see the documentary proof that the money is coming from a foreign source. Only Thai documents will be acceptable, i.e. Thai bank book and Thai bank letter.

[JLCrab]

42 minutes ago, madmen said:

I'm sure people will find a way

Yes and Thai IMM could find a way to have you sign another document along with your TM7  that you have not done as you suggest in the above and in your previous comments in which case, if you have, you would be filing a false police report IN a police station and subject to arrest.

[onera1961]

11 minutes ago, Lovethailandelite said:

Transferwise deposits show as incoming foreign transfers if going direct to a Bangkok bank account. Other banks and institutions, it shows as a local transfer.
All due to Bangkok bank being the clearing house for incoming foreign transfers.

New rush to open Bangkok Bank accounts. 

[Spidey]

5 minutes ago, mikosan said:

Who says?

TI

[garyk]

I will wait for the official posting. Hoping the letter will do me one more year. 

What a bunch of nonsense the government here wants to put expats threw. IMO you better watch your backs and set up an exit strategy. 

Edited January 5, 2019 by garyk

[Lovethailandelite]

Just now, onera1961 said:

New rush to open Bangkok Bank accounts. 

As long as they transfer a MINIMUM of 40/65k once a month, EVERY month then it won't be a problem.

[KhunFred]

5 minutes ago, Lovethailandelite said:

That is handy. Playing the round Robin, you will be able to catch a flight back home twice a month to toss your funds around.

No funds to "toss around" in most cases. Social Security payments, state retirement and annuities are yours to spend however you choose. True "money laundering" is easily detectable. Every penny I make comes from the USA, quite legally. 

[Lacessit]

4 minutes ago, Lovethailandelite said:

That is handy. Playing the round Robin, you will be able to catch a flight back home twice a month to toss your funds around.

Your attempt at a reductio ad absurdum falls rather flat. I am talking about anyone leaving Thailand for good.

I only transfer enough money here to live on, and meet the 800K requirement. The rest stays in Australia.

[scubascuba3]

Yes and Thai IMM could find a way to have you sign another document along with your TM7  that you have not done as you suggest in the above and in your previous comments in which case, if you have, you would be filing a false police report IN a police station and subject to arrest.

That's the last thing to worry about

[madmen]

Yes and Thai IMM could find a way to have you sign another document along with your TM7  that you have not done as you suggest in the above and in your previous comments in which case, if you have, you would be filing a false police report IN a police station and subject to arrest.

What document? Police stations? What are on about.
They want to see 65k going in. People will find a way on the merry go round.

[mikosan]

1 minute ago, Spidey said:

TI

I was under the impression that no new rules regarding this had yet been officially released, and if that is so, then actually we don't know what they will and will not accept.  

[KhunFred]

1 minute ago, scubascuba3 said:

7 minutes ago, JLCrab said:

Yes and Thai IMM could find a way to have you sign another document along with your TM7  that you have not done as you suggest in the above and in your previous comments in which case, if you have, you would be filing a false police report IN a police station and subject to arrest.

That's the last thing to worry about

Give me the form and I will sign. Easy to verify income if you can read.

[Lovethailandelite]

1 minute ago, Lacessit said:

Your attempt at a reductio ad absurdum falls rather flat. I am talking about anyone leaving Thailand for good.

I only transfer enough money here to live on, and meet the 800K requirement. The rest stays in Australia.

And I am referring too the ridiculous suggestions of sending money in only to send it out straight out again and back in again for the next months instalment.  

[jvs]

9 hours ago, JackThompson said:

They can always ask for more documentation - as they can now - if "too many" people are able to meet the new bar (100% of the minimum income imported). 

 

Both the US Consul and this report have indicated "every month."

Maybe you could declare it at customs, then deposit it, then show the declaration - but I would not count on it. 

 

Both of these would be allowed if the goal were really to verify income - but this relies on honesty and good-will, which may be entirely absent from the equation.

wouldn't this be covered under the combination method?

[Lovethailandelite]

5 minutes ago, madmen said:

They want to see 65k going in. People will find a way on the merry go round.

Good luck getting your extension when TI inspect your bank book and account, looking at the 12 proceeding months of income and how it's been manipulated. Do you think they are stupid and are not aware of this?
 

[onera1961]

13 minutes ago, KhunFred said:

Social Security payments, state retirement and annuities are yours to spend however you choose.

All my incomes are mine to spend however I choose. ????

Edited January 5, 2019 by onera1961

[madmen]

Good luck getting your extension when TI inspect your bank book and account, looking at the 12 proceeding months of income and how it's been manipulated. Do you think they are stupid and are not aware of this?
 

As mentioned a number of times you need 2 bank accounts.
How will it show manipulation?

[onera1961]

11 minutes ago, Lovethailandelite said:

Good luck getting your extension when TI inspect your bank book and account, looking at the 12 proceeding months of income and how it's been manipulated. Do you think they are stupid and are not aware of this?

Deposit 65K in Bank1's account on the first week ok the month. Take out 15K baht every week and deposit 5K in bank2's account. Send a deeMoney transfer every week from bank2's account to your foreign bank. Now you have 20K to play round robin game every month. Fees 150x4 = 600 baht ($20) every month. Agent charges $2000 baht every month. DeeMoney wins ????

 

Edited January 5, 2019 by onera1961

[Lovethailandelite]

26 minutes ago, Spidey said:

Maybe but probably not. TI don't work on logic. They want to see the documentary proof that the money is coming from a foreign source. Only Thai documents will be acceptable, i.e. Thai bank book and Thai bank letter.

The way the order reads clearly states the deposits need to come from overseas and need to be every month for the previous 12 months.

[JLCrab]

8 minutes ago, madmen said:

As mentioned a number of times you need 2 bank accounts.
How will it show manipulation?

They could ask to see the source of funds that go into the ex-Thailand account that are then transferred to Thailand. And you seem to take lightly the notion of filing a false Police report in a Thai police station to which you would be subject to arrest.

[mokwit]

Just now, onera1961 said:

Deposit 65K in Bank1's account on the first week ok the month. Take out 15K baht every week and deposit 5K in bank2's account. Send a deeMoney transfer every week from bank2's account to your foreign bank. Now you have 20K to play round robin game every month. Fees 150x4 = 600 baht ($20) every month. Agent charges $2000 baht every month. DeeMoney wins ????

How do FX spreads come into this? Most on here think they only pay SWIFT/broker fees. The spread can be as high as 2x3% per side i.e 6% round turn 12xyear.

 

How much money will you have at the end of the year afyer paying 3% back out and 3% back in again?

[JLCrab]

11 minutes ago, onera1961 said:

Send a deeMoney transfer every week from bank2's account to your foreign bank.

They could easily ask you to sign a statement that you have not repatriated any funds from your Thai account that you are using for your extension directly or indirectly back to your ex-Thai account for transfer back to Thailand which -- if you have -- you are filing a false police report.

 

 

Edited January 5, 2019 by JLCrab

[kannot]

IS  Thai  Thai  Elite 20 year visa  now  looking a  better long  term  prospect?

[albertik]

After having read through this thread, I foresee the day when TI squeezes the rules even more in light of the many who are constantly trying to game the system. As per always, a few will ruin the status quo for the rest.

Edited January 5, 2019 by albertik

[kannot]

1 minute ago, JLCrab said:

They could easily ask you to sign a statement that you have not repatriated any funds from your Thai account that you are using for your extension directly or indirectly back to your ex-Thai account which -- if you have -- you are filing a false police report.

 

 

gets  crazy easy to send back  2  lump sums a  year  to a friend then get them to bank it  in your UK  bank and then send it  back out monthly..............whole  things a farce, easiest way show  lump sum, irrelevant  where it came  from, no need to check 3  months seasoning, finished.

[Longcut]

10 hours ago, GinBoy2 said:

I would like to think this isn't shocking news to anyone.

 

Now it's official, then again when is any regulation in Thailand written in stone? But the writing has been on the wall for a while.

 

Countless column inches of denial have been written, counter arguments, but it's beginning to coalesce into what was probably evident from the beginning .

 

They (Thai Immigration) want you to do the money in the bank thing. It's easy, not a lot of effort required, everyone is happy.

 

The embassies were never going to verify countless variations of income, and yes not everyone relies on a single State retirement income. So that was a non starter.

 

So for Thai immigration if you want the simple answer, you look at a Thai bank account, and you verify monthly deposits from overseas, if there isn't the lump sum deposit.

 

It's not what a lot of folks wanna hear, but surprising?

 

Well you shouldn't be

I deposit every month to Krung Thai Bank from my bank in the U.S. None of my deposits show coming from overseas. How are they going to treat that? As far as I know only Bangkok 
Bank show deposits as a foreign transaction. (FTT). My deposits show up as BDS22.

[madmen]

They could ask to see the source of funds that go into the ex-Thailand account that are then transferred to Thailand. And you seem to take lightly the notion of filing a false Police report in a Thai police station to which you would be subject to arrest.

So your saying they will now be verifying your income? People can have several different sources in different languages

That's the whole reason embassies shut the door on it.. And now your saying TI will take on that responsibility ?

[kannot]

1 hour ago, Lovethailandelite said:

Transferwise doesn't operate in Thailand for the simple reason 'You cannot just send money out of Thailand'. Transferwise only sends money 'In'.....Next idea please.

which should be  proof  enough of  money coming from outside  Thailand

[kannot]

1 hour ago, SheungWan said:

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

Wives  can  be  useful  though

[Lovethailandelite]

Just now, kannot said:

which should be  proof  enough of  money coming from outside  Thailand

Due to the funds arriving in Thai baht and unless the funds go into a Bangkok bank account, it doesn't show as an International transfer. Only as a local transfer.
The way the order I have read clearly interprets and clearly states the deposits need to come from overseas and need to be every month for the previous 12 months before extension