CONFIRMED: Here is exactly what’s needed for retirement & marriage extensions (income method) from 2019

[Srikcir]

38 minutes ago, ubonjoe said:

It would be the same letter banks

Can you provide a sample that I can show the bank?

I doubt with the few alien residents (maybe 5?) in my area that the bank personnel has done such a letter.

[SheungWan]

4 minutes ago, Henryford said:

Say you had an income of 30,000 baht a month, not enough to comply but enough to live on, plus 35,000 in savings. Month 1 send the 35k savings to your UK bank. Then send the 65k to Thailand as your "income". Month 2 send the 35k savings to your UK bank...... etc, etc. You have additional fees to pay but using Dee Money not much. Better than an "illegal" agent's fee.

Good luck with the money laundering method.

Edited January 8, 2019 by SheungWan

[logres212]

18 hours ago, ubonjoe said:

It is a directive that only changes the option for using ia income of 65k baht or 40k baht.

Everything else in the existing police order has not been changed.

There is no mention of averaging as in previous announcement. So what I can see from this it has to be a PCM deposit of 40/65000 bhat into a Thai bank account. It cannot be an average of that amount over a 12 month period if making quarterly deposits or if you miss or a bit short one month for example. Also as I read it, the combination method is not available any more, as if it were you could say 300,000 baht in the bank and just make 8 months of transfers of 65000 baht for example. 

[JLCrab]

9 minutes ago, Nyezhov said:

20 minutes ago, JLCrab said:

No guarantee that Thai IMM would accept the blank form affidavit for purposes of extension but maybe you would like to give it a try.

 

I dont have too. My Extension is good till January 2020. Im merely trying to help others who don't wish to toss their cash in Thai banks

Well OK but you are then just trying to help others with something that most likely ain't gonna work.

[Moonlover]

1 hour ago, mogandave said:

1 hour ago, scubascuba3 said:

Let's be honest their hand was forced because of Lazy farang embassy staff

 

1 hour ago, mogandave said:

 

And now lazy farang retirees have to deal with it.

 

So really, really be honest. The embassies were forced into an untenable situation by the Thai Immigration's requirement for undoable verification procedures!

[Ned]

Already schemes are being thought up to get around this latest 65K per month into a Thai bank rule.

Where's this all leading? If TI had any self respect ...to the 400/800K in the bank method as the one and only method to get an extension.

[onera1961]

3 minutes ago, SheungWan said:

Since those very same expats have been using the agency route for years there will be a zero effect on their departure or expenditure or stress.

No, earlier they could do it cheaply ($50) by enriching their own country's coffers. Now they have to pay more.

[Henryford]

7 minutes ago, SheungWan said:

Good luck with the money laundering method.

I am not recommending it, and i don't see it as money laundering. But for those with few savings and under 65k a month income it's a possible option. The wording of the new arrangements only seem to ask for 65k to come in every month from abroad. This complies. The new arrangements say nothing about how much you can send abroad afterwards.

Edited January 8, 2019 by Henryford

[digger70]

Why are so many people THICK between their ears so nothing can go in?  The new crap is only for people who use the Income procedure,,,,The money THB400K/800K  IS NOT an Income Procedure it's the money in the bank for 2or 3 months before one can apply  for an extension So It has NOT changed. AMEN  

[JLCrab]

4 minutes ago, Henryford said:

I am not recommending it, and i don't see it as money laundering. But for those with few savings and under 65k a month income it's a possible option. The wording of the new arrangements only seem to ask for 65k to come in every month from abroad. This complies.

And to me the use of the word 'pension' implies that Thai IMM has the option to ask to see some corroborating source of recurring monthly income as they have always, with the embassy-provided income affidavit, had the right to ask for corroborating documentation.

[onera1961]

12 minutes ago, Henryford said:

Say you had an income of 30,000 baht a month, not enough to comply but enough to live on, plus 35,000 in savings. Month 1 send the 35k savings to your UK bank. Then send the 65k to Thailand as your "income". Month 2 send the 35k savings to your UK bank...... etc, etc. You have additional fees to pay but using Dee Money not much. Better than an "illegal" agent's fee.

Wow. Somebody after winning a genetic lottery has ended up their life with only 1K USD/month and 1KUSD savings. And we are quibbling over "illegal" agent fees.

[BertM]

12 minutes ago, Jim7777 said:

Finally some extremely good news!  No more trips to the embassy every year I get my extensions, from now on I just make a short trip down the street to my local Bangkok Bank branch.  Just have to make sure I make the transfers into Bangkok Bank every payday once a month which is fine because it's actually saving me money in ATM fees by using Bangkok Bank instead of my stateside bank.  I just simply transfer half of my monthly pension payments into Bangkok Bank once a month every payday which is equivalent to about 75,000 baht a month and that's just half of my monthly income.  The rest of it I just leave in my bank in the states.  That's not so bad this is actually good news for a lot of us.  

Yea, I agree it is good news for a very few (me included) who can xfer money from home country and not have to xfer their entire pension or waste 1,700 THB and a trip to embassy for affidavit. 

[mogandave]

So really, really be honest. The embassies were forced into an untenable situation by the Thai Immigration's requirement for undoable verification procedures!

Exactly

[kohlenkutscher]

9 minutes ago, onera1961 said:

I think this will work. But it does not make 800K regulation obsolete. I think it may be a better approach than keeping the money for seasoning. 

Why? It is unfair if I have to prove an additional 800000 THB in addition to the proven foreign banks, while other applicants only have to prove the monthly income. All my Euro deposits come from a foreign bank. But not every month but throughout the year. So it could happen that in the 3 month period before the extension of stay application my total balance at the Thai Bank is under 800000 but still every month 65000 goes into my Thai account.

[SheungWan]

7 minutes ago, onera1961 said:

No, earlier they could do it cheaply ($50) by enriching their own country's coffers. Now they have to pay more.

"er no. No income method and no lump sum. Agency route all the way for some guys. Unaffected by current changes.

[Henryford]

13 minutes ago, onera1961 said:

Wow. Somebody after winning a genetic lottery has ended up their life with only 1K USD/month and 1KUSD savings. And we are quibbling over "illegal" agent fees. 

Duh, there is always one. The figures quoted were as an EXAMPLE for those who maybe have a problem with the new arrangements. Personally i have more than double the required monthly income.

Edited January 8, 2019 by Henryford

[newatthis]

59 minutes ago, luckyluke said:

It seems that some don't wish to follow the rules implemented by T.I.;

 

however expect the same result as the ones who are doing it.

 

Even some expect/assume that for them in particulary, a derogation should be evident.

You read posts about scamming, scheming Thais, but they seem to be virgins compared to some foreigners.

[DPKANKAN]

14 hours ago, mojaco said:

The translation to English provided to us is exactly what the original Thai document says.  It uses "average" for marriage and does not say "average" for retirement.  Who knows if Immigration did this deliberately or just weren't too careful in their wording in both instances.

 

Like when they say, quote, "since January 2019, to proceed in good orders and inconsistent procedures"!!555

[luckyluke]

13 minutes ago, EL159 said:

I would have thought for anybody with even half a brain my point is obvious!

It seems that a lot have less than half a brain here.

Despite getting innumerable times the answer, they still asking the same question.

So it would be nice if you could elaborate your point.

[zydeco]

16 minutes ago, Moonlover said:

So really, really be honest. The embassies were forced into an untenable situation by the Thai Immigration's requirement for undoable verification procedures!

Then why are the Germans, the Swedes, the Italians, the Mexicans, and every other country still issuing letters with no problems? Are did the Thais target the Anglosphere? 

[Psychic]

1 hour ago, stevo2 said:

 

It has been answered and it was on page 1.

 

Look at the police order, item 3 of the evidence required .

Thanks.

Didn't notice that second page entry.

It could have been made a lot clearer since it doesn't say "either" at the top of that column.

 

So, I worry some intrepid officer will it interpret otherwise.

[zydeco]

9 minutes ago, onera1961 said:

Wow. Somebody after winning a genetic lottery has ended up their life with only 1K USD/month and 1KUSD savings. And we are quibbling over "illegal" agent fees.

What exactly is the "genetic lottery?"

[onera1961]

7 minutes ago, kohlenkutscher said:

Why? It is unfair if I have to prove an additional 800000 THB in addition to the proven foreign banks, while other applicants only have to prove the monthly income. All my Euro deposits come from a foreign bank. But not every month but throughout the year. So it could happen that in the 3 month period before the extension of stay application my total balance at the Thai Bank is under 800000 but still every month 65000 goes into my Thai account.

As I said, if two accounts are in the same bank, the bank will be willing to certify all deposits of 65K are foreign sourced. I think you should go and talk to your bank instead of arguing with posters for your unique situation. 

[JackThompson]

46 minutes ago, fordguy61mi said:

There will be many expats that will have to leave the Kingdom because they won’t have the funds to stay. The party’s over, I guess, for those lying about their income for years.

No - it is easier to fake it now than before, and without a potential felony-charge in your passport country for lying on an affidavit.  

And, of course, 15K to an agent (25K in Bangkok), is what the IO wants most, in any case.

 

Quote

Good luck to them as they travel to their home country and try to make a living for themselves. I don’t say this sarcastically, as I do feel for those who are going through a lot of stress now, even if it is because of their own decisions.

Why would they go there to suffer?  If they have income - even if it were less than 65K Baht/mo - there are many better options right next door and in the region. 

[wgdanson]

59 minutes ago, Nyezhov said:

Thats the silliness (or the rationale) of this whole change the rules business at least as it affects me and other part timers.

 

I have more than sufficient income. I dont need 65K a month and if I do, I can go to an ATM or do transferwise. I can make my life easier by just bringing in 9K, converting it, or even put it in a US funds account and live off of it.

 

For part timers, it makes no sense to deposit 65K in a bank account when you arent here.

 

I have been thinking about this whole thing as it applies to me, or anyone else who wants to stay here in the winter. It may actually make more sense to do an SETV in the USA and extend. Then a hop to Cambo or Lao or wherever for another SETV and extend. Look at the difference in costs and time.

 

Retirement: 1900 baht, and two trips to Immigration. Plus if you want to go anywhere outside, 1200Baht. But say 1900 baht. $60.

SETV: 1500 baht in the USA. 1900 baht for First extension. 2900 baht for Foreign Visa and second SETV, 1900 baht for second extension. 8200 baht Say $250.

 

But then take into account TW fees or bank fees and repatriating funds and all the hassles?

 

The $190 difference in fees is worth it. And I leave anyway.

 

Agree totally. But another way for short-timers would be to borrow 800k, put it in bank for 3 months and then re-patriate the money and pay off the loan. Cheers.

[007 RED]

4 hours ago, OJAS said:

Alternatively, do you know how we can lay our hands on a copy of the original Thai version of this particular Memorandum, which we might then be able to wave under their noses instead?

Please find attached below a PDF file containing a copy of the original Thai Text Memorandum.   Sorry that its not a perfect image as I had to photograph it whilst in a restaurant with far than less ideal lighting conditions and then convert it from JPEG to PDF.  It is readable and printable.  Hope that helps.

 

FYI -  When I was at Bangkok Bank HQ last week I spoke to the manageress of the overseas deposit/exchange section (2nd floor).  From my conversation with her it was apparent that they (the Bank) were already aware of the new requirement for a letter to support monthly income renewals.  She said that they were in discussions with TI and were preparing a template letter that will meet TI's requirements.  I would hope that when they get the letter approved they will inform their branches of the requirements and template.  Obviously my comments only relate to Bangkok Bank, what other banks will do is anyone's guess.

TI Memorandum.pdf

[Surasak]

18 hours ago, khwaibah said:

For confirmation and assistance contact your local agent.????

 

Contact details wold help?

[Nyezhov]

25 minutes ago, JLCrab said:

Well OK but you are then just trying to help others with something that most likely ain't gonna work.

Well I bow to your expertise. My offer stands. Especially if someone has backup documentation like a SS award letter

[mlmcleod]

The ignored portion of these rules is that now every expat utilizing the monthly income method must transfer at least 65K baht to a Thai bank every month.  This appears to be a huge win for the Thai banking industry.  As an American, I have always used my American credit union for banking.  I use any ATM I want at no charge.  The only difference now is that I have to use a Thai bank and put up with all the miscellaneous charges that they deem necessary.  SInce Thailand is a cash economy, I will have to figure out how to pay my credit cards in America every month.  This seems minor but the charges to convert baht back to dollars is not. 

 

Every American with Social Security has the ability to provide a certification letter from SSA showing the pension amount and the payments made every month.  The bank book method is just cumbersome and subject to the whims of Thai immigration.  Of course the documentation requirements will be high so they can fill another warehouse with unread and useless paper.

[Suradit69]

18 hours ago, smedly said:

how many times do you need to be told - this relates to income only

It boggles the mind, doesn't it?

 

I can understand that people have been made a little nervous about clarification regarding the so-called "income" method,  but no matter how often it's made clear that the changes being made ONLY relate to that income issue, it seems they insist on employing the Chicken Little, The Sky is Falling Method.