BREAKING NEWS Foreigners now need to keep 800k in Thai bank for three months AFTER retirement extension is granted

[roobaa01]

i wish to advise about the combo method. yesterday my german friend and i went to jomtien to obtain approval for my friends extension. he applied for his extension using 400k in the bank and the income letter from the german consulate in pattaya. he was approved w/o problems.

 

wbr

roobaa01

[Sheryl]

What if anything was he tokd regarding how much of the 400k he can spend?

Was 400k the amount he needed to total 800k (in other words is his monthly income only about 33-34k?)

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[roobaa01]

9 minutes ago, Sheryl said:

What if anything was he tokd regarding how much of the 400k he can spend?

Was 400k the amount he needed to total 800k (in other words is his monthly income only about 33-34k?)

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app
 

his pension thb 42500 x 12 =thb 510480 plus thb 400k in the bank as fixed deposit.

yes topped up to 800k

nothing been told about keepin the 400k in the acc after the approval.

 

wbr

roobaa01

[Ebumbu]

On 2/6/2019 at 12:32 AM, Spidey said:

That is the law. You have the option of sending 65k baht/month from a foreign source or the 800k option. I just can't understand why anyone would choose the 2nd option.

 

What's the consensus on this issue, please: I'm not getting paid this month, February. If immigrations sees I got paid the first week of March, but nothing in February, am I probably screwed for the income method? In other words, I'll show two deposits in March, each one well over the 65k minimum.  It doesn't meet the letter of the law, I know. I'm scrambling. 

 

Also, can anyone say for sure what happened to the combined method? I can't wrap my head around seasoning requirements related to the combined method, and if there are any. ????

Example: Could I walk into integrations with banks statements in late 2019, show yellow-highlighted deposits, have them do the math (deposits plus remaining balance) and be all set if it adds up to over 800k? I kind of doubt it. TIT. My deposits are irregular. Zero one month. 200k the next month, etc. Feast or famine. But the average will be over 800k. 

 

Thanks. I know it's mostly confusion right now. Fishing for answers. 

[Spidey]

32 minutes ago, Ebumbu said:

 

What's the consensus on this issue, please: I'm not getting paid this month, February. If immigrations sees I got paid the first week of March, but nothing in February, am I probably screwed for the income method? In other words, I'll show two deposits in March, each one well over the 65k minimum.  It doesn't meet the letter of the law, I know. I'm scrambling. 

 

Also, can anyone say for sure what happened to the combined method? I can't wrap my head around seasoning requirements related to the combined method, and if there are any. ????

Example: Could I walk into integrations with banks statements in late 2019, show yellow-highlighted deposits, have them do the math (deposits plus remaining balance) and be all set if it adds up to over 800k? I kind of doubt it. TIT. My deposits are irregular. Zero one month. 200k the next month, etc. Feast or famine. But the average will be over 800k. 

 

Thanks. I know it's mostly confusion right now. Fishing for answers. 

Would be a good idea to keep some money back on your "feast" months so that you can still send 65k on your "famine" months. TI have said that they are going to give people some latitude this year but how much latitude is anyone's guess.

[indepth]

On 2/21/2019 at 4:23 PM, sumrit said:

For all the people who've knowingly used a false declaration to obtain an Embassy letter then presented to TI as truthful, you're right, they haven't committed perjury, they've committed fraud.

I never need someone to tell me Im right. It goes without saying. 

[Sheryl]

2 hours ago, roobaa01 said:

his pension thb 42500 x 12 =thb 510480 plus thb 400k in the bank as fixed deposit.

yes topped up to 800k

nothing been told about keepin the 400k in the acc after the approval.

 

wbr

roobaa01

He topped up to more than the required 800K.  I am just interested to know if he was told he had to (i.e. had to have at least 400k)? As that is how some interpret the vaguely worded directive.

[Olmate]

34 minutes ago, indepth said:

I never need someone to tell me Im right. It goes without saying. 

You realise the dec of income was for the forthcoming year, not the one past. Unforeseen circumstances meant that the income for that next year was less than predicted at the time of making the dec!

[Ebumbu]

1 hour ago, Spidey said:

Would be a good idea to keep some money back on your "feast" months so that you can still send 65k on your "famine" months. TI have said that they are going to give people some latitude this year but how much latitude is anyone's guess.

 

Do you have any insights into the "combined" method? As I understand it, combined means income plus savings. If accurate, then any monthly deposits would qualify, no? Do I need to season any savings using the "combined" method? How much?  ????  

Do I need to keep reserves all year? How much? ????  I think even the lawyers don't know, so I'm grasping at straws, right? TIT, for good and bad. 

 

Play the odds and show them the 65k each month is prudent, agree. I'll need to move some funds around fast, before end of month. 

 

 

[indepth]

16 hours ago, Olmate said:

You realise the dec of income was for the forthcoming year, not the one past. Unforeseen circumstances meant that the income for that next year was less than predicted at the time of making the dec!

I , and you , dont know what people would write in the dec.I wrote that i receive $xxxxx per annum from the Oz govt. Never said I "had" or I "will".  

[indepth]

On 2/22/2019 at 10:37 AM, Yellowtail said:

Oh, a guy with real heart.

Tanoshi is just making things up as he goes along. As embassys never verified the income, there is no way to verify they were made up. Dont need to be a Rhodes scholar to work that out. 

[Olmate]

15 minutes ago, indepth said:

I , and you , dont know what people would write in the dec.I wrote that i receive $xxxxx per annum from the Oz govt. Never said I "had" or I "will".  

Well you could be lying by saying I receive, if in fact you do not. By writing you will which may not eventuate thru no fault of yours and therefore dec is not fraudulent. Again it relates to the next year, not the present or past which receive indicates. To go back to the false fraudulent point previously discussed.

[Tanoshi]

47 minutes ago, indepth said:

Tanoshi is just making things up as he goes along. As embassys never verified the income, there is no way to verify they were made up. Dont need to be a Rhodes scholar to work that out. 

Eh! What relevance is your quote to that of verified incomes.

If you read my posts I have maintained Embassies never have and never will be able to 'verify' incomes.

 

Cut down on the Yabba. 

[steve73]

On ‎2‎/‎22‎/‎2019 at 7:15 PM, Ebumbu said:

 

What's the consensus on this issue, please: I'm not getting paid this month, February. If immigrations sees I got paid the first week of March, but nothing in February, am I probably screwed for the income method? In other words, I'll show two deposits in March, each one well over the 65k minimum.  It doesn't meet the letter of the law, I know. I'm scrambling. 

 

Also, can anyone say for sure what happened to the combined method? I can't wrap my head around seasoning requirements related to the combined method, and if there are any. ????

Example: Could I walk into integrations with banks statements in late 2019, show yellow-highlighted deposits, have them do the math (deposits plus remaining balance) and be all set if it adds up to over 800k? I kind of doubt it. TIT. My deposits are irregular. Zero one month. 200k the next month, etc. Feast or famine. But the average will be over 800k. 

 

Thanks. I know it's mostly confusion right now. Fishing for answers. 

See my reply on another thread here... which answers some of your questions.

In addition, I specifically asked if one month's income was missed could you make 2 the next months (or vice versa..), of if your pension was paid quarterly.

NO... at least one payment every month was required.

 

The combined method also requires a "similar" International deposit EVERY month.. ("similar" to allow for changes in exchange rate if it's a fixed payment in your own currency).  On application for extension the total Intl deposits over the past 12 months would be added.  Any shortfall from 800k would require that amount of savings to have been seasoned for 3 months before.  This minimum balance would have to be maintained for 3 months after, and then half that amount for the next 6 months, before topping back up again to ensure the following years extension not being rejected. 

An example was presented for 40k/mon.  Total 480k over the year, so 320k must be seasoned for 3 months before and kept for 3 months after, and 160k minimum at all other times.

 

All quite complicated and not recommended if it can possibly be avoided since it would be easy to make mistakes that would result in your next extension being denied.

[Ebumbu]

On 2/23/2019 at 5:35 AM, steve73 said:

See my reply on another thread here... which answers some of your questions.

 

 

I made a 65,000 deposit in Jan. It looks like I missed February by waiting too long to set up wire transfers and Dee Money. Am I basically screwed with the income method and I should give up? Or is it possible they'll cut me a break for one missed month, if the rest add up fine? What a pain. May switch to other visa. 

 

Thanks. 

 

[ubonjoe]

8 hours ago, Ebumbu said:

I made a 65,000 deposit in Jan. It looks like I missed February by waiting too long to set up wire transfers and Dee Money. Am I basically screwed with the income method and I should give up? Or is it possible they'll cut me a break for one missed month, if the rest add up fine? What a pain. May switch to other visa. 

That could depend upon when you extension is due. The may only want to see 2 or 3 months for the first extension under the new rules this year. They have to been instructed to leinenent and flexible this year.

[jacko45k]

9 hours ago, Ebumbu said:

I made a 65,000 deposit in Jan. It looks like I missed February by waiting too long to set up wire transfers and Dee Money.

February has 4 more days to run!

[bootly66]

My O visa is valid until April and then was to be extended to retirement. If i extend it before March 1st, would i still have to show the 4/800k after 3 months as the extension was granted before the new rules come into effect??

[jacko45k]

1 minute ago, bootly66 said:

My O visa is valid until April and then was to be extended to retirement. If i extend it before March 1st, would i still have to show the 4/800k after 3 months as the extension was granted before the new rules come into effect??

Nobody is sure but how would they verify the money after the extension is granted either way? You may only find out in March 2020. If you can afford to do so, leave the 800k untouched just to be sure. 

[bootly66]

6 minutes ago, jacko45k said:

Nobody is sure but how would they verify the money after the extension is granted either way? You may only find out in March 2020. If you can afford to do so, leave the 800k untouched just to be sure. 

Yes the money will be there, I was just wondering if I do my extension before March 1st would i still have to prove it's still there after 3 months.. Just don't need the hassle of going to the bank for statements

[jacko45k]

1 minute ago, bootly66 said:

Just don't need the hassle of going to the bank for statements

Nor do I believe a retirement extension 'heavy' office ie say Jomtiem, has the manpower or means to check up on those with retirement extensions 3 months after issuing them.

[steve73]

16 hours ago, Ebumbu said:

 

I made a 65,000 deposit in Jan. It looks like I missed February by waiting too long to set up wire transfers and Dee Money. Am I basically screwed with the income method and I should give up? Or is it possible they'll cut me a break for one missed month, if the rest add up fine? What a pain. May switch to other visa. 

 

Thanks. 

 

When I asked the question about missing months I was referring to quarterly or ad-hoc deposits. 

You should probably try to make you Feb deposit as soon as possible (using TW it would still arrive in time although SWIFT may take a little longer).

Then go and ask at your local Imm office if it's OK being a few days late.. you may be lucky, and let us know how you get on.

[Ebumbu]

8 hours ago, steve73 said:

When I asked the question about missing months I was referring to quarterly or ad-hoc deposits. 

You should probably try to make you Feb deposit as soon as possible (using TW it would still arrive in time although SWIFT may take a little longer).

Then go and ask at your local Imm office if it's OK being a few days late.. you may be lucky, and let us know how you get on.

I have someone wiring me a loan from US this time, which should get here before Thurs, I hope. I'll be more prepared now. I got Dee Money set up. And, waiting a week for Wells Fargo to check my phone number for unknown reason (to send wires here). Google Voice can receive SMSs with OTPs from US banks (using a US number). It's instant. 

 

I wonder if a deposit from Paypal Thailand would look like a foreign deposit into my Thai bank. Paypal Thailand is actually based in Singapore. Anyone know? It says "dummy branch" in my statement. Maybe IO will relate to that. 555. 

[ocddave]

11 minutes ago, Ebumbu said:

I have someone wiring me a loan from US this time, which should get here before Thurs, I hope. I'll be more prepared now. I got Dee Money set up. And, waiting a week for Wells Fargo to check my phone number for unknown reason (to send wires here). Google Voice can receive SMSs with OTPs from US banks (using a US number). It's instant. 

 

I wonder if a deposit from Paypal Thailand would look like a foreign deposit into my Thai bank. Paypal Thailand is actually based in Singapore. Anyone know? It says "dummy branch" in my statement. Maybe IO will relate to that. 555. 

I know I saw a warning from Bank of America recently about Zelle (Bank Transfer Service) not supporting Google Voice or any VOIP based phone number for SMS verification, has me worried about others following suit.....just thought I would bring it up, because it definitely caught my attention, as I use that method (Google Voice) for SMS as well.

 

Quote

You can't enroll in Zelle with a landline, Google Voice or VOIP (voice over internet protocol) phone number. (Section 3.C.3 Enrolling in the Service)

 

[wayned]

1 hour ago, Ebumbu said:

I have someone wiring me a loan from US this time, which should get here before Thurs, I hope. I'll be more prepared now. I got Dee Money set up. And, waiting a week for Wells Fargo to check my phone number for unknown reason (to send wires here). Google Voice can receive SMSs with OTPs from US banks (using a US number). It's instant. 

 

I wonder if a deposit from Paypal Thailand would look like a foreign deposit into my Thai bank. Paypal Thailand is actually based in Singapore. Anyone know? It says "dummy branch" in my statement. Maybe IO will relate to that. 555. 

Why not open an account at Bangkok Bank and have them do a swift transfer directly into your account through Bangkok Bank New York Branch.  They have an ABA number.  Set it up so BBL sends you an SMS message when the funds arrive and are deposited.  They use the current exchange rate on the day that it deposited. Thai's how I do all of the transfers from the US..

[peterg40]

Went to Huahin Immigration
on Friday March 1st expecting to collect printed
details of the new regulations
which I understood came into force on the 1st.
I was told that they were unavailable and they would
not be ready until “sometime “ this week.
Has anyone managed to get
specific printed details of the new requirements for both
retirement extension or marriage visa?


Sent from my iPhone using Thaivisa Connect

[Olmate]

28 minutes ago, peterg40 said:

Went to Huahin Immigration
on Friday March 1st expecting to collect printed
details of the new regulations
which I understood came into force on the 1st.
I was told that they were unavailable and they would
not be ready until “sometime “ this week.
Has anyone managed to get
specific printed details of the new requirements for both
retirement extension or marriage visa?


Sent from my iPhone using Thaivisa Connect

Why did you expect that to happen? Phuket has some detail on the volunteer website tho which may give a hint to what to expect.google PIV Thailand

[rainwater]

On 2/25/2019 at 11:34 PM, ocddave said:

I know I saw a warning from Bank of America recently about Zelle (Bank Transfer Service) not supporting Google Voice or any VOIP based phone number for SMS verification, has me worried about others following suit.....just thought I would bring it up, because it definitely caught my attention, as I use that method (Google Voice) for SMS as well.

 

 

I use 4 different apps for phone calls and texts including Skype and Messenger, seems the only one that works most the time from bank related texts is called "2ndLine" the other one called "TalkaTone" will receive calls from my US banks with a voice number code but not texts, although I can text and receive texts from people in US no problem on both. 

[Aus2804]

So, sorry if I have missed this. If you come across on a non immigrant ‘O’ visa, whack 800,000 baht in a Thai bank, is that it for the year? Or do you do 3 monthly immigration visits. Can you touch 800 000 baht during that year. And is long stay hotel ok as place of stay in Thailand? Thanks, again sorry if I missed it.

[elviajero]

5 minutes ago, Aus2804 said:

So, sorry if I have missed this. If you come across on a non immigrant ‘O’ visa, whack 800,000 baht in a Thai bank, is that it for the year? Or do you do 3 monthly immigration visits. Can you touch 800 000 baht during that year. And is long stay hotel ok as place of stay in Thailand? Thanks, again sorry if I missed it.

The 800K would need to be in the bank for; 2 months before applying for the extension, 3 months after receiving the extension and 2 months before renewing. In between you can withdraw funds but must leave a minimum balance of 400K.

 

A long stay hotel is usually accepted, but they might want proof of prepayment or a contract.