Income from shares and business for retirement visa

[Vlad60]

Hi Guys. I used to extend my Non-O Retirement visa with affidavit after it was originally opened with over 1 mil. in THB held for about a year due to delay with construction of new condo. It was relatively easy to have multiple entry as I still do short term professional contracts and have additional income from shares & real estate investments. Money TT (telegraphic transfer) through the bank could be done once - twice per year to show sufficient income. When you have mates who visit Thailand for short term, it should be not too hard to ask for transfer of additional amount to your Thai Account with refund of TT value in Thai Baht to the mate on arrival. Sorry if this method may be not so good for very "cheep Charlies" but financial figures should look good.   

[BertM]

I have no idea what your point is about asking for transfer of additional amount to your Thai account if you have mates visiting... what does that have to do with anything?

 

And, you are using the 800k or more bank account method, so income from shares or business are not required for extension.

[Vlad60]

28 minutes ago, BertM said:

I have no idea what your point is about asking for transfer of additional amount to your Thai account if you have mates visiting... what does that have to do with anything?

 

And, you are using the 800k or more bank account method, so income from shares or business are not required for extension.

Bert, I used originally "parked" > 800K to open Non-O Retirement visa. After condo was build and I got Chanotte after paying the balance. For extending retirement visa on annual basis I used Affidavits and also provided copies of my ANZ Bank statements showing the semi-regular payments. At least we have about 3% interest on deposits in Australia and Thai Bank gives "next to nothing"

Edited January 8, 2019 by Vlad60

[sometimewoodworker]

4 minutes ago, Vlad60 said:

Bert, I used originally "parked" > 800K to open Non-O Retirement visa. After condo was build and I got Chanotte after paying the balance. For extending retirement visa on annual basis I used Affidavits and also provided copies of my ANZ Bank statements showing the semi-regular payments. At least we have about 3% interest on deposits in Australia and Thai Bank gives "next to nothing"

So you want to use the income method. The bad news is you must do monthly transfers of 65k or over for retirement, semi annual won't be accepted AFIK.

[Suradit69]

7 hours ago, Vlad60 said:

I used to extend my Non-O Retirement visa with affidavit

Visas cannot be extended. You either got a new visa or, more likely, you were renewing an extension.

 

You need to read this thread, it'll make everything clear (a hint of sarcasm in the air): Good Luck.

 

 

[BertM]

6 hours ago, Vlad60 said:

Bert, I used originally "parked" > 800K to open Non-O Retirement visa. After condo was build and I got Chanotte after paying the balance. For extending retirement visa on annual basis I used Affidavits and also provided copies of my ANZ Bank statements showing the semi-regular payments. At least we have about 3% interest on deposits in Australia and Thai Bank gives "next to nothing"

I understand what you mean now. Going forward you have 2 options; the 800k in Thai bank method or the 65k monthly income method. The semi-regular payments (assuming you mean twice a year) will not be accepted. You will need to do monthly xfers of 65k or more into a Thai bank if you want to use the income method in the future.

Edited January 8, 2019 by BertM

[Elkski]

He is also saying when he has a mate coming they could send him 40 k to qualify for this month and when they arive he  transfers to their local account or gives them baht.   This is similar to a question I posted somewhere.   Let's say your using rental income plus SS plus maybe a  draw down from investments to get a stream of 65 k/mo.    First off a late rent payment will have drastic effects.  But let's say this  stream is coming in stready at 65k+    but after it comes you send some to another bank account and then back to your investment account at home country.   Then this can be reinvested and sent back in future years.   Yes transfer fees would be an issue.   This is for cases where a person can live without spending it all or anything. Yes there are some Thai women like this. 

Edited January 8, 2019 by Elkski