Using Combination method for Retirement extension - With Foreign transfers.

[spambot]

While not explicitly mentioned in the new police order - Will the foreign bank transfer be an accepted replacement for the Income letter when used in the combination with appropriate Bank deposit and will this satisfy for a Retirement extension?

 

For example for Jan 2020 extension: If 12 months x 35K foreign bank transfers occur = 420K.

Does this mean that if (800K - 420K = ) 380K  is seasoned for the last 3 months - Then this amount will satisfy the combination rule?

 

Bottom line: If monthly outgoings are 35K and you transfer this amount from a foreign bank every month for normal needs - If you then just maintain a long term deposit of 380K then this  is enough to satisfy retirement extension needs.

 

 

 

Edited January 10, 2019 by spambot

[cleopatra2]

It is not a new Police Order but an amendment to an existing order.

 

The Police Order stipulating the requirements for an extension have not changed and remain the same

Lump sum in the Bank

Income method 65,000, 40, 000

Combination of above

 

The order for supporting documentation has been amended to reflect the non issue of embassy income letters.

 

 

[ubonjoe]

You prove the income part of the combination by showing international transfers as mentioned in the amendment or a income letter if you can get one. The money in the bank remains the same.

[spambot]

2 minutes ago, cleopatra2 said:

It is not a new Police Order but an amendment to an existing order.

 

The Police Order stipulating the requirements for an extension have not changed and remain the same

Lump sum in the Bank

Income method 65,000, 40, 000

Combination of above

 

The order for supporting documentation has been amended to reflect the non issue of embassy income letters.

 

 

Thanks for the response on the clarification of this being an amendment rather than a new police order - The main value I would welcome is the clear confirmation that even though I can not see any other interpretation from what you say - I am assuming you are confirming that my figures are correct?

 

For Jan 2020 extension: If 12 months x 35K foreign bank transfers occur = 420K.

Does this mean that if (800K - 420K = ) 380K  is seasoned for the last 3 months - Then this amount will satisfy the combination rule?

 

Bottom line: If monthly outgoings are 35K and you transfer this amount from a foreign bank every month for normal needs - If you then just maintain a long term deposit of 380K then this  is enough to satisfy retirement extension needs.

[elviajero]

25 minutes ago, spambot said:

Thanks for the response on the clarification of this being an amendment rather than a new police order - The main value I would welcome is the clear confirmation that even though I can not see any other interpretation from what you say - I am assuming you are confirming that my figures are correct?

 

For Jan 2020 extension: If 12 months x 35K foreign bank transfers occur = 420K.

Does this mean that if (800K - 420K = ) 380K  is seasoned for the last 3 months - Then this amount will satisfy the combination rule?

 

Bottom line: If monthly outgoings are 35K and you transfer this amount from a foreign bank every month for normal needs - If you then just maintain a long term deposit of 380K then this  is enough to satisfy retirement extension needs.

Yes your figures are correct and would satisfy the “combination rule”.

 

All immigrantion have done is added another way to provide proof of income. Nothing has been changed.

[spambot]

1 hour ago, elviajero said:

Yes your figures are correct and would satisfy the “combination rule”.

 

All immigrantion have done is added another way to provide proof of income. Nothing has been changed.

Perfect response elviajero - its good to get the black and white confirmation - Thank you for giving this - Appreciated. 

[Laza 45]

20 hours ago, ubonjoe said:

You prove the income part of the combination by showing international transfers as mentioned in the amendment or a income letter if you can get one. The money in the bank remains the same.

My Oz pension at the moment is $828 a fortnight.. 36,400 Bt (at current exchange rates).. 437,000 Bt a year.. Question how much would I have to keep in the bank here.. not much, I think.  The Oz govt will pay directly into a Thai account which would make things easier.. I do have a 2nd private pension but I would rather not transfer both...  Thanks if you can help...

[Rambo]

20 hours ago, ubonjoe said:

You prove the income part of the combination by showing international transfers as mentioned in the amendment or a income letter if you can get one. The money in the bank remains the same.

I transfer pension monies from UK into 2 separate Bangkok Bank accounts both with Bangkok Bank (one is in Thai baht for UK State Pension, the other in GBP into Foreign Currency Account is Company Pension). Can I continue to do this under the amended orders ?

[ubonjoe]

15 minutes ago, Laza 45 said:

My Oz pension at the moment is $828 a fortnight.. 36,400 Bt (at current exchange rates).. 437,000 Bt a year.. Question how much would I have to keep in the bank here.. not much, I think.  The Oz govt will pay directly into a Thai account which would make things easier.. I do have a 2nd private pension but I would rather not transfer both...  Thanks if you can help...

I came up with a different annual income than you. I multiplied your payments you get every 2 weeks by 26 (52 weeks a year divided by 2) and got a total of 486,048.42 baht using today's rate of 22.57750 baht. Subtracting that number from 800k baht you would need at least 313,951.58 in the bank. Of course it would be best to more than that in the bank to allow exchange rate fluctuation.

[ubonjoe]

19 minutes ago, Rambo said:

I transfer pension monies from UK into 2 separate Bangkok Bank accounts both with Bangkok Bank (one is in Thai baht for UK State Pension, the other in GBP into Foreign Currency Account is Company Pension). Can I continue to do this under the amended orders ?

Yes you could. There is no requirement for you have the income going into the same account. You could use 2 or more accounts if you wanted to. They would calculate the amount in baht for the GBP income on the date you apply for the extension.

[phkauf]

With Bangkok Bank's policy change for US transfers through the ACH system, I will now have to use the SWIFT system. So instead of making monthly transfers from my US accounts, I would likely make a transfer once every three months for 3X the normal monthly amount. So instead of say 50 thousand Baht every month, 150,000 every three months.

Question: will Thai Immigration look at this differently than the monthly transfer for the monthly portion of income? I plan on topping up the balance with a large deposit closer to my renewal date to satisfy the combo method requirements.

[Laza 45]

22 minutes ago, ubonjoe said:

I came up with a different annual income than you. I multiplied your payments you get every 2 weeks by 26 (52 weeks a year divided by 2) and got a total of 486,048.42 baht using today's rate of 22.57750 baht. Subtracting that number from 800k baht you would need at least 313,951.58 in the bank. Of course it would be best to more than that in the bank to allow exchange rate fluctuation.

I was thinking I would marry my gf of 10 years!.. and go for 400,000 K option.. You are right.. there are 26 payments a year.. So unless the $Au goes completly south I should be covered.. maybe keep 100,000 or 200,000 in a bank here .. to be sure to be sure.. Thank you!

[Jingthing]

I think the police order says monthly so if this is your plan it would be very risky to try quarterly unless / until there are indications that immigration is showing flexibility in enforcement.

 

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

 

 

 

 

[phkauf]

26 minutes ago, Jingthing said:

I think the police order says monthly so if this is your plan it would be very risky to try quarterly unless / until there are indications that immigration is showing flexibility in enforcement.

 

Sent from my Lenovo A7020a48 using Thailand Forum - Thaivisa mobile app

 

 

 

 

Thanks. What you say is what I fear! The inability to think slightly outside the box is astonishing.

[Lemonltr]

50 minutes ago, phkauf said:

With Bangkok Bank's policy change for US transfers through the ACH system, I will now have to use the SWIFT system. So instead of making monthly transfers from my US accounts, I would likely make a transfer once every three months for 3X the normal monthly amount. So instead of say 50 thousand Baht every month, 150,000 every three months.

Question: will Thai Immigration look at this differently than the monthly transfer for the monthly portion of income? I plan on topping up the balance with a large deposit closer to my renewal date to satisfy the combo method requirements.

I have the same question exactly but have further ones. 1. I use swift and my BKK bank book then states KU. FFT. but does not explain what it means. Will this be acceptable to immi? Next, my extension Is in November but I brought no funds here in December. In othet words when does this requirement start. Am I non qualifying already? We need a firm starting date. 

[GalaxyMan]

14 minutes ago, phkauf said:

Thanks. What you say is what I fear! The inability to think slightly outside the box is astonishing.

The weak and stupid will always cling like leeches to the letter of the law because of their lack of ability to think for themselves. Just ran into that today at the bank. Really makes you shake your head at times.

[CM Paulie]

You experts here are full of caca de toro. No one at TI any place in LOS wipe their A$$ the same way twice. To expect any difference is to believe in the tooth fairy.

[Dazinoz]

I don't have an "income" only savings in Australia which does make a small income in interest. I can easily transfer 65,000 baht a month (retirement extension) but no proof of income. Reading the amended police rules I understood the transfer into a Thai bank from international would be ok. I contacted an agent I used last year and they replied with immigration have already changed twice since the amendment came out and hopes to know more next week but advised the 800k is the safest way to go.

[Golden Triangle]

I have a friend who uses the Korat immigration office, he was in there yesterday to do his 90 day reporting and also check up on the latest changes, I should add that he is computer illiterate and has no internet or wi fi so is completely in the dark about all this. his next renewal is about 6 months away.

 

Anyway, he & his Mrs asked the friendly staff at Korat immigration what was required, he has at this moment 600k in the Bangkok bank, and his pension is paid into a Kasikorn account, he was told yesterday that he could not use the combination method, and if he decided to go down the Marriage visa route he would have to take a Thai neighbour to confirm that he lived there !! 

 

Can anyone that uses the Korat office confirm that these rules are being applied ? Seems a bit strange to me.

[ubonjoe]

21 minutes ago, Golden Triangle said:

Anyway, he & his Mrs asked the friendly staff at Korat immigration what was required, he has at this moment 600k in the Bangkok bank, and his pension is paid into a Kasikorn account, he was told yesterday that he could not use the combination method, and if he decided to go down the Marriage visa route he would have to take a Thai neighbour to confirm that he lived there !! 

I wonder if they still expected him to have proof on income from his embassy. Perhaps the person they were talking to was not aware of the new rules. 

The witness to apply for an extension of stay based upon marriage is a normal requirement at some immigration offices. It might be easier for him to apply for that extension by showing he has more than 400k baht in the bank for 2 months.

[Pattaya46]

54 minutes ago, Dazinoz said:

// I contacted an agent I used last year and they replied with immigration have already changed twice since the amendment came out and hopes to know more next week but advised the 800k is the safest way to go.

The safest? Rather the only one on which he can make his barely legal business. 

He can put 800k during one hour max in an account in your name,

but he can't put and remove 35k every previous 12 months...

[Golden Triangle]

14 minutes ago, ubonjoe said:

I wonder if they still expected him to have proof on income from his embassy. Perhaps the person they were talking to was not aware of the new rules. 

The witness to apply for an extension of stay based upon marriage is a normal requirement at some immigration offices. It might be easier for him to apply for that extension by showing he has more than 400k baht in the bank for 2 months.

Thanks ubonjoe for your explanation, not sure if the Korat office is aware of the changes either and my mate lives about 70 kms from the office so can't just pop down to check, I'm hoping some members who use that office can shed some light on it, as for the neighbour bit, 1st time I have heard of that so thanks for your input.

[atyclb]

that monthly transfer to a thai bank adds up to significant money in transfer fees for 1 year. 40 - 50 dollars each time .  480 - 600 usd / year.

[Henryford]

1 hour ago, Dazinoz said:

I don't have an "income" only savings in Australia which does make a small income in interest. I can easily transfer 65,000 baht a month (retirement extension) but no proof of income. Reading the amended police rules I understood the transfer into a Thai bank from international would be ok. I contacted an agent I used last year and they replied with immigration have already changed twice since the amendment came out and hopes to know more next week but advised the 800k is the safest way to go.

I would always go for the 800k in the bank. But what happens if you have an unexpected large bill within 3 months of the extension which takes you below the 800k. Without the 65k a month transfer you are f*****.

[scubascuba3]

I would always go for the 800k in the bank. But what happens if you have an unexpected large bill within 3 months of the extension which takes you below the 800k. Without the 65k a month transfer you are f*****.

That's an easy one. Make a transfer in to cover the unexpected large bill

[Dazinoz]

2 hours ago, Pattaya46 said:

The safest? Rather the only one on which he can make his barely legal business. 

He can put 800k during one hour max in an account in your name,

but he can't put and remove 35k every previous 12 months...

Not all agents work like that.

[Dazinoz]

59 minutes ago, Henryford said:

I would always go for the 800k in the bank. But what happens if you have an unexpected large bill within 3 months of the extension which takes you below the 800k. Without the 65k a month transfer you are f*****.

If immigration want proof of income in Australia I can't do. If they just want to see 65k coming into Thai bank I can do.

[rickudon]

A slightly different issue, i spend about 2 months a year in the UK. so need my income there for those months. IF i had to transfer the money to Thailand 12 months a year that would be a pain. Also currently i get my funds via an ATM machine (cheapest and most convenient for me). If doing a bank transfer every month my costs would be a bit higher. I wonder if Immigration would accept ATM receipts? Somehow i think not ...... Easy to provide documents showing income, it is getting the funds into Thailand that is more of a problem.

 

Because of Brexit it is a bad time to transfer funds for money in the bank option. With luck, a better exchange rate come summer.

 

Fortunately i have another 12 months before the next extension (did mine New years eve). I also have to go in for a 90 day in 2 weeks time and i will be asking my immigration Office about my options, but 12 months is a long time ... what they will want in 11 months time could change .......

[a977]

6 hours ago, rickudon said:

A slightly different issue, i spend about 2 months a year in the UK. so need my income there for those months. IF i had to transfer the money to Thailand 12 months a year that would be a pain. Also currently i get my funds via an ATM machine (cheapest and most convenient for me). If doing a bank transfer every month my costs would be a bit higher. I wonder if Immigration would accept ATM receipts? Somehow i think not ...... Easy to provide documents showing income, it is getting the funds into Thailand that is more of a problem.

 

Because of Brexit it is a bad time to transfer funds for money in the bank option. With luck, a better exchange rate come summer.

 

Fortunately i have another 12 months before the next extension (did mine New years eve). I also have to go in for a 90 day in 2 weeks time and i will be asking my immigration Office about my options, but 12 months is a long time ... what they will want in 11 months time could change .......

If you using ATM cards to transfer money I suggest you check your bank statement for your costs + rate exchange, think you will find it cheaper to use direct transfer to your Thai bank account. 

[GalaxyMan]

15 hours ago, Dazinoz said:

If immigration want proof of income in Australia I can't do. If they just want to see 65k coming into Thai bank I can do.

That's all they're interested in, seeing the money coming into a Thai bank. That's their definition of 'income'. They couldn't care less where it comes from.