Switching from 65k income method to combo method

[scubascuba3]

I'm planning ahead to later this year ..under the new rules, for my initial extension I'm using the income method of monthly 65k in the bank. If i then want to switch to combo method can i switch immediately i.e. start paying a lower monthly amount?

[wgdanson]

Very good question. Sorry, cannot help but would love to know.

[scubascuba3]

Very good question. Sorry, cannot help but would love to know.

yeah if i switch too early who knows IO might reject it

[jacko45k]

Once you have the Extension based on income, there is no requirement of maintaining it, rather you have to simply prove it for the previous year. When you go to do the next extension, you will need to show that the deposit component has been seasoned for 2 months, and the income component has come from overseas for 12 months. The 2 components add up to 800,000/year.

That's my best guess!

 

There is a possibility Immigration will interpret the rules to say the deposit component should have been there at 50% prior to the 2 months, and maybe even 100% for 3 months prior to that. And some even fear the minimum 50% is 400,000 baht. Making combo meaningless.

We don't know yet....that is why @Jingthing believes the combo method is problematic.

Edited February 9, 2019 by jacko45k

[scubascuba3]

Once you have the Extension based on income, there is no requirement of maintaining it, rather you have to simply prove it for the previous year. When you go to do the next extension, you will need to show that the deposit component has been seasoned for 2 months, and the income component has come from overseas for 12 months. The 2 components add up to 800,000/year.
That's my best guess!
 
There is a possibility Immigration will interpret the rules to say the deposit component should have been there at 50% prior to the 2 months, and maybe even 100% for 3 months prior to that. And some even fear the minimum 50% is 400,000 baht. Making combo meaningless.
We don't know yet....that is why [mention=37101]Jingthing[/mention] believes the combo method is problematic.

I've never heard of agents funding a combo method, based on that i think the 3 month after thing then 50% doesn't apply to the combo method. I plan to switch the month after i get the extension then ensure i have 400k in the bank for 2 months before.

Would be nice if the usual experts expressed if they agreed or not

[jacko45k]

3 minutes ago, scubascuba3 said:

I've never heard of agents funding a combo method, based on that i think the 3 month after thing then 50% doesn't apply to the combo method. I plan to switch the month after i get the extension then ensure i have 400k in the bank for 2 months before.

Would be nice if the usual experts expressed if they agreed or not

I hope you are correct. I believed agents usually generate an Extension based on the money in the bank method, but again not sure of my information there. 

[a977]

I cannot see why if you have a government pension of say 500,000thb and you can get a letter signed and stamped to that effect and you have 400,000 in the bank that that in not sufficient to renew you extension, but I'm just a silly old farang

[mfd101]

9 minutes ago, a977 said:

I cannot see why if you have a government pension of say 500,000thb and you can get a letter signed and stamped to that effect and you have 400,000 in the bank that that in not sufficient to renew you extension, but I'm just a silly old farang

What you or I might think is logical or sensible has nothing to do with the 'rules' that might or might not be applied by Thai Immigration.

 

Anyone proposing to use the or a combo method should be VERY cautious until current or future policy is clarified. It would be sensible to be planning & preparing to go down either of the other 2 main routes but with capacity to change to combo along the way if that appears doable. Which is no doubt easier said than done ...

[tgeezer]

The income method is based on past performance guaranteeing future performance whereas the lump sum method requires showing adequate funds for the future. If Immigration could be convinced that the lump sum belonged to the applicant and that his income was also his, there is a much cheaper way of showing 65000Bt per month combination. The monthly shortfall could be made up with one twelfth of the lump sum.
For example last year you received 40,000 per month, you held in the bank a fixed deposit of 25000 throughout, then you have had available to you the required monthly funds.


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[overherebc]

My take on it.

Reading through a lot of post and going back to the beginning on 800,000 being in the bank for xxx months etc I believe the intention was that it should be applied to retirees who could not show ( now ) the embassy letters and those who could, could carry on with the old system of 'verified' income, be it income only or combined.

However, it seems at the moment it has been adopted/interpreted to apply to all by both sides, and, according to a couple of posts also in a couple of places it has been taken as applying to married extensions as well for the 400,000 in the bank.

I'm sure we will be reading and posting on this for a while yet.

[scubascuba3]

As none of the experts have posted yet I'm guessing that's because they don't know the answer. Maybe best to ask at Immigration well in advance + wait for reports