BREAKING NEWS Thai immigration reveals new requirements for retirement, marriage extensions (visas)

[bubba]

12 minutes ago, TallGuyJohninBKK said:

 

Although the current translation of the new rules is using the term "pension," in all likelihood, what's going to end up mattering for monthly income applicants is that you or someone transfers at least the required 40K or 65K into your Thai bank account from some foreign source every month -- regardless of the original source of those funds.

 

Surely that must be the case, since many of us are older than 50 but younger than pension age.

[TallGuyJohninBKK]

33 minutes ago, Svadhistana said:

Is this 100% sure or are you just assuming it?

 Pretty much 100% sure re the Thai bank deposits method remaining unchanged.

 

The new rules just change the parts that they're changing (monthly income), and leave alone the parts they're not changing.

 

[ginjag]

6 minutes ago, DPKANKAN said:

Your Aussie government pension is 30% better than our UK one based on what my Aussie mates tell me!! Yours 40k plus a month ours 30k. And that is, at least mine is for paying in for 42 years!!

Mine is 20k, because it was capped 11 years ago, as I quote "not normally reside in the UK"...Pension department words

Edited January 6, 2019 by ginjag

[Easy Come Easy Go]

I'm not on a retirement visa as I am only 30, but do other neighbouring countries such as Vietnam, Laos and Cambodia make it this difficult for elderly expats to stay for a long duration? The money in the bank, transactions etc, seems like a lot of hoops to be jumping through 

[worrab]

2 hours ago, connda said:

 

Based on the fact that there was no mention of it, are we to assume that 400K and 800K in a Thai bank for extensions based on marriage and retirement respectively are no longer a viable method of financial funding for yearly extensions?  Based on the article only 45K/mo and 65K/mo placed into a Thai bank for 12 consecutive months prior to the extension are the new rule of law? 
Clarifications? Was the funds in the bank option mistakenly omitted here?  If not, Thailand can plan to see an exodus of expats married to Thais or retired in Thailand.

It has been made very clear, through Ubonjoe and others for instance, that this does NOT affect the 400k or 800k used for the relevant extensions So usual rules apply re seasoning. 

This amendment applies to the monthly income method which has been changed because of the ruling about Embassy verification letters.

Edited January 6, 2019 by worrab
Writing error

[dick dasterdly]

15 minutes ago, EL159 said:

Right. I ve read every page every post. Theres 2 hours of my life I ll never get back. Its as clear as day for me regarding the remittance method. "Show an average monthly income of 65,000". Fine. So given the word "average", and lets keep this simple, if you bring in and show 200,000 four times a year, that comes to a total of 800,000 divided by twelve equals about 66,000 per month.

"if you bring in and show 200,000 four times a year, that comes to a total of 800,000 divided by twelve equals about 66,000 per month."

 

Cough.... You obviously missed the part in the OP that stated "Letter of certification from a Thai bank supported by bank statements showing a pension being transferred to the pensioner’s bank account every month for at least 12 months."

[4MyEgo]

29 minutes ago, EL159 said:

Right. I ve read every page every post. Theres 2 hours of my life I ll never get back. Its as clear as day for me regarding the remittance method. "Show an average monthly income of 65,000". Fine. So given the word "average", and lets keep this simple, if you bring in and show 200,000 four times a year, that comes to a total of 800,000 divided by twelve equals about 66,000 per month.

Perhaps you should digest what the topic is about, suffice to say it has nothing to do with remittance, it is to do with pensioners and the way they can obtain the extension, i.e. remit 40,000 or 65,000 baht per month, along with proof of them being pensioners.

 

What you are saying is deposit 200,000 x 4 per year divided by 12 months = 800,000 that won't work for a pensioner, it has to be proof of 40 or 65k per month from the pension.

 

Like I said, if you are not a pensioner and want to deposit 800,000 baht in any year, as long as you deposit it at least 3 months before the application, your good, nothing to do with 200,000 baht x 4 times per year which equals 66,000 baht per month, nothing to do with anything, your just confusing yourself and anyone else reading your posts.

 

You obviously didn't get it after reading all those post of which you will not get back 2 hours of your life back, "keep it simple stupid", as the saying goes.

 

Maybe you're also stubborn and won't accept what I am saying is correct.

Edited January 6, 2019 by 4MyEgo

[sumrit]

42 minutes ago, mlmcleod said:

I am sad to see that retirement funds need to be sent to a Thai bank to qualify!  My letter from Social Security should be enough!  It can be notarized if necessary.

But having it notorized doesn't show you're bringing it to Thailand for living expenses. It's like the money in the bank option, that doesn't show you have enough money to live on, only that you have funds in a Thai bank for three months per year.

 

TI have tightened up on monthly income anomalies, maybe money in the bank fiddles will be next on their list. Their figures over the next two years will be an indicator, showing how many people have changed to an 'agency arranged' 800k option since this present change.  

[leither69]

2 hours ago, NCC1701A said:

OK so those affected by this change need to investigate a monthly transfer service like Transferwise.

 

And or setting up repeating monthly transfers from their bank outside of Thailand where ever it may be.  

 

The exchange rate is something you will have to monitor month to month.

 

 

 

 

Correct, I've used it for a few years, slightly higher rate and accurate transfer of required fund i.e the online calculator gives the exchange rate and amount (in bhat) you transfer, therefore no mix up at year end with insufficient funds being brought here

[Suradit69]

2 hours ago, MJCM said:

If the option to keep 800k or 400k in a Bank account is removed from the "option list" then I think

These changes are to do with the income method. Nothing to do with the money in the bank method. The problem exists only in your mind.

 

There's no mention of road traffic regulations or hotel licensing laws either because those have nothing to do with the changes in the monthly income method. It doesn't mean that road traffic or hotel licencing rules have been removed just because they weren't mentioned.

 

Why are you going on and on about something that has nothing to do with the changes being announced?

[TallGuyJohninBKK]

33 minutes ago, dick dasterdly said:

But that's precisely where it's unclear!

 

The OP notice talks only about 'pension' income, and also says that it has to be paid monthly into a Thai bank account - which is not always possible with company/private pensions.

 

The notice doesn't say that 65,000 bht minimum is required every month, as it also says an average of 65,000 bht p.m. will be acceptable.

 

No doubt we'll have to wait a few months to find out how different branches of Immigration translate the rules.

 

Listen to Joe's advice... You're overthinking this on the use of the term "pension" in the translated version of the Immigration regs.

 

Almost certainly, what will matter to Thai Immigration is that you can provide them with a Thai bank book and letter from that Thai bank certifying you had the required monthly deposits from some foreign source, including your own accounts abroad...   Everything else is noise.

 

[Wake Up]

This is exactly what the CW supervisor told me in October 2018. 12 monthly deposits into a Thai bank at least 65k  baht every month or 800 k in a Thai bank three months before extension. Sounds reasonable to me. But costly for the guys that have to pay the monthly transfer fees. And maybe they will curtail theory the  agent to fake everything method for those who cannot afford Thailand. 

[ginjag]

4 minutes ago, Easy Come Easy Go said:

I'm not on a retirement visa as I am only 30, but do other neighbouring countries such as Vietnam, Laos and Cambodia make it this difficult for elderly expats to stay for a long duration? The money in the bank, transactions etc, seems like a lot of hoops to be jumping through 

Philippines, for the retired person is the best option because they have an agreement with the UK, your old age pension is paid in full and you receive increment increases.

[Chongalulu]

2 hours ago, 8OA8 said:

The problem with the Transferwise route is that the funds don't come from outside Thailand and they advis that before the transaction is done. I noticed on my bank statement last week where the source of inbound funds received via Transferwise as stated as coming from "DUMMY BRANCH"  

Yes,this is an issue with many FX companies- that what shows up on the Thai receiving banks books (and your bank book) is often a domestic transfer because of the route and intermediary the fx company uses.

What I can guarantee is that TI s rules will be poorly drafted and not thought through with much ambivalence and thus open to IO interpretations.

[TallGuyJohninBKK]

33 minutes ago, EL159 said:

Right. I ve read every page every post. Theres 2 hours of my life I ll never get back. Its as clear as day for me regarding the remittance method. "Show an average monthly income of 65,000". Fine. So given the word "average", and lets keep this simple, if you bring in and show 200,000 four times a year, that comes to a total of 800,000 divided by twelve equals about 66,000 per month.

 

I'd say the jury's still out on the quarterly vs monthly deposits issue you're raising... Let's see how the more formal EN translation is worded once it's posted here.

 

I'm guessing, but it is just a guess at this point, that Thai Immigration will in fact want to see MONTHLY deposits in order to satisfy the monthly deposit method.

[dick dasterdly]

Just now, TallGuyJohninBKK said:

 

I'd say the jury's still out on the quarterly vs monthly deposits issue you're raising... Let's see how the more formal EN translation is worded once it's posted here.

 

I'm guessing, but it is just a guess at this point, that Thai Immigration will in fact want to see MONTHLY deposits in order to satisfy the monthly deposit method.

I think they've made it pretty clear that they will want to see MONTHLY deposits.

 

"Letter of certification from a Thai bank supported by bank statements showing a pension being transferred to the pensioner’s bank account every month for at least 12 months."

[TallGuyJohninBKK]

26 minutes ago, moto77 said:

They'll likely lose their wealthiest retirees with this nonsense. I don't have a pension. I have a business in the US and take draws of well over 500K THB a month. Of course I'm not going to put that in a Thai bank. LOL
 

 

No one's saying you need to have a pension. Or what you have to do with your 500K THB per month.

 

They're only saying, you need to keep 400K or 800K in a Thai bank deposit at least 3 months prior to applying for an extension, or be able to show monthly Thai bank deposits from abroad of 40K or 65K per month during the prior 12 month period.  The rest is up to you...

 

 

[Bangkok Barry]

This relates to extensions. Easier not to get extensions. I just go over the border every 90 days on a multi-entry marriage O visa. No bank account details needed, no embassy letter (at Savannakhet anyway).

[marko kok prong]

I am 54,so i do not get a pension,however i get monthly payments from an offshore investment account these can vary quite wildly i remember once getting 260,000 baht but another time 30,000,i have well over the 800k in the bank,i am on retirement extension,like many other's here i am confused as to if they will only now except monthly income of 65,000 or man.

[pookiki]

I think Ubon Joe had adequately explained the new regulations which address only the monthly income issue.  I think it is safe to say that 'pension' means 'regular and recurring' funds.  I don't think banks will be in a position to note the source of funds unless there is a direct deposit which applies for very few expats.  If TI expected the banks to 'verify' the source of income, then we are back to square one with the issues that allegedly caused the four embassies to cancel their letters and affidavits.

 

If one is able to show the 'total' monthly or average deposits required, then I would 'hope' this would satisfy TI.  Of course, the best case scenario would be for TI to accept proper documentation of the amount and source of income received from pension/investment sources, etc. on a recurring basis. 

[NCC1701A]

15 minutes ago, leither69 said:

Correct, I've used it for a few years, slightly higher rate and accurate transfer of required fund i.e the online calculator gives the exchange rate and amount (in bhat) you transfer, therefore no mix up at year end with insufficient funds being brought here

yes and it has be pointed out if you use Trasferwise with Bangkok Bank then the transfer is labeled as coming from outside the country.

Edited January 6, 2019 by NCC1701A

[ubonjoe]

37 minutes ago, bangkoklasse said:

My embassy is still doing income letter for me. Do I have to show that 65k baht is coming into my account? Or is it still exectly the same as last year if having the income letter?

No changes if you have a income letter from you embassy.

[moreem]

3 hours ago, Dmaxdan said:

Presumably the money deposited in a bank Thai account method (400,000 and 800,000) hasn't changed?   

 

Yes, I don't see any change actually ? Can someone tell me in 3 lines what has really changed ?!

 

And it only concern extension, not when applying for visa ?

 

Thanks.

 

 

[TallGuyJohninBKK]

26 minutes ago, Srikcir said:

If one is transferring a part or whole monthly pension that is deposited first directly into one's home nation's bank account such as Bank of America, how can the Thai bank certify the funds transferred to one's Thai bank account is from a pension?

• If "pension" is not specified such as called simply "funds", not a problem.
• If "pension" must be indicated in transferred funds from the home country to one's Thai bank, that's a

 

There won't be any requirement from Thai Immigration to show the incoming funds are from an actual traditional pension in the formal western meaning of the term.  Even if the term "pension" ends up continuing to be used in the EN translations of the Thai regs.  They want to see MONEY coming from abroad on a regular, presumably monthly, basis. That's all.

 

 

[onera1961]

38 minutes ago, bangkoklasse said:

My embassy is still doing income letter for me. Do I have to show that 65k baht is coming into my account? Or is it still exectly the same as last year if having the income letter?

If your embassy is still issuing "income letter" nothing changes for you. It's only for embassies who have thrown their citizens under the bus by stopping issuance of "income letters"

[ginjag]

2 minutes ago, Bangkok Barry said:

This relates to extensions. Easier not to get extensions. I just go over the border every 90 days on a multi-entry marriage O visa. No bank account details needed, no embassy letter (at Savannakhet anyway).

I had to get a retirement visa because The Thai Consulate in Laos stopped the Non 0 visa 90 day and only issued a 60 day one, and only 2 more after that..

[Kerryd]

When they say "average" per month - think about it. Seriously.

 

They expect that, because of fluctuating exchange rates, that your monthly deposits will vary and not be exactly 65,000 every month. One month it could be 64,700. Next month it could be 65,050, then 65,100 and so on and so on.

I highly doubt they will consider "0" baht for 2 months and then a deposit of 195,000 as being "an average of 65,000 per month".  Or a quarterly deposit of 260,000 baht.

I know - why don't you suggest that you just transfer in 800k the day before your extension is due and get the bank to make up a letter saying that is the equivalent of 65k/month, then transfer the money back to whoever you borrowed it from ? Because Immigration would never catch on to something like that, right ?

And people were trying to figure out ways to scam the system weeks ago when it was first reported this might happen, and most of the suggestions centered around transferring in a deposit, then transferring it back out and then doing it again next month.

 

Almost as though they don't actually make the required amount despite all their claims otherwise.

[Poppin]

Does anyone know for definite that the 400,000 and 800,000 is still available for long term visa.

it is just crazy to send your money monthly as it obviously incurs transfer costs and a poor exchange rate from your bank if you have to send the money in Thai Baht.

would greatly appreciate a definite answer or somewhere to get it

[scubascuba3]

"Exceptions are allowed for those who have been retired for less than one year – example given:

No example was given, anyone have any idea?

Also is the combination method 40k monthly and 400k in bank?

[waxpro]

what is the case if a foreigner living here, married and father of 4 Thai kids,

but his job as international broker, affiliate marketing where his earning come from online,

he has the stable financial statement and supporting his family comfortably,

how to deal with salary and tax receipts, from who or to be paid to who? and for what reason?