Marriage/Retirement - Interpretations explained.

[thequietman]

27 minutes ago, johnjohn2 said:

Even if you transferred 1 million baht during those 12 months but missed a month for the min required amount then your out of luck for the income method

So, common sense doesn't come into this. Amazing Thailand! ????

[steve73]

Did they clarify how/when they would check the 800k post extension and 400k until 3 months prior to the next?

 

I'm assuming it'll be done to satisfy the NEXT extension.

This means we'll need 12 (or 13+*) months of bank statements when applying for each successive extension.  Or you need to keep your bank book fully up to date.  (I normally just update mine once per year immediately prior to my extension with the so far 3 month statement.)

 

* If you do your extension this year 30/45 days early, and then next year do it on the due day then 13 months or more will have passed. 

[Tanoshi]

1 minute ago, steve73 said:

Did they clarify how/when they would check the 800k post extension and 400k until 3 months prior to the next?

 

I'm assuming it'll be done to satisfy the NEXT extension.

This means we'll need 12 (or 13+*) months of bank statements when applying for each successive extension.  Or you need to keep your bank book fully up to date.  (I normally just update mine once per year immediately prior to my extension with the so far 3 month statement.)

 

* If you do your extension this year 30/45 days early, and then next year do it on the due day then 13 months or more will have passed. 

Correct Steve. They'll check the balances and seasoning periods at your next extension renewal date.

[keemapoot]

3 minutes ago, thequietman said:

So, common sense doesn't come into this. Amazing Thailand! ????

Yup. This is all about strict compliance, which means lots of people are going to get tripped up. The best advice is leave the money in a separate account and don't touch it, and then never worry about compliance. If using income or combination method, you need to worry that you never have a missed month payment, or that any monthly payment does not fall below the minimum because of exchange rate fluctuations or other errors. 

 

The good thing is that now all using transferwise should be able to have their banks prove up that that the transfers came from abroad.

[MikeN]

I don't suppose you asked them to clarify the reason for leaving 400K in the bank ? I know many are assuming it is to cover any medical bills, but what happens if it is and then you do use it for a hospital bill, or whatever its supposed use is?

If it is just dead money they might as well just charge us 400,000baht for a visa and be done with it.

[skatewash]

7 minutes ago, Tanoshi said:

Correct. Income letter from Embassy, OR, bank statements + letter from bank.

 

Bahnet is the system used when deposits go through the Bank of Thailand before reaching your local account.

Yes they regarded that as proof of foreign income.

In fact the example they showed used the Bahtnet code, but had the full name of the payee, in this case a private pension provider.

 

If using bank statements, then the source of the deposit is paramount.

It must come from overseas (unless earned in Thailand, that would be proven by tax receipts).

 

The Embassy letters only certify your annual/monthly income with proof shown to the Embassy.

The Embassy letter isn't proof your transferring the funds. No proof requested so far by Immigration in that respect.

Still unclear on the last question regarding source of funds.  I do understand the paramount importance of the money being deposited coming from overseas, but did you understand them to care that it came only from a pension?  If I do not have a pension but I can transfer the required amount monthly to Thailand does it matter that the source of that income is from investments and not from a fixed pension?  I am going to be able to show investment accounts and statements showing transfers from those foreign (outside Thailand) investment accounts to Thailand, but they are not ultimately coming from a pension.  I'm never going to be able to show a letter that states what my income is for the year.  Is that required or is it enough to have the proper monthly deposits (marked with international codes) coming into my Thai bank account?

[Tanoshi]

18 minutes ago, brokenbone said:

400k in bank + embassy income letter =400k+ is enough ?

 

can i use the bank money during the year ?

I assume you mean using the combo method for a retirement extension?

No, you couldn't withdraw any of the 400K if your income was only 40K per month.

You must maintain a balance of 800K by way of funds/income throughout the year.

 

If however your income was 45K per month, then;

Funds deposited of 400K + income of 45K per month.

Funds and income total 940K per annum.

After the seasoning period you can withdraw 140K.

Income of 45K x 12 = 540K + 400K funds = 940K, the difference being 140K above 800K available to withdraw.

 

[bigginhill]

9 minutes ago, Tanoshi said:

26 minutes ago, skatewash said:

I'm hoping this is meant to be obvious but it's one or the other right?  1 or 2?  Not both?

 

In other words, the embassy letter route remains for those who can obtain one, and for those who can't the monthly deposit route is acceptable without one?

Correct. Income letter from Embassy, OR, bank statements + letter from bank.

Thanks for info, I was worried but by the info you have shared this year I will be ok.

 

However.. reading the post above, next year should I want to do a combo method of 

300,000 in the bank plus

tot in letter of income plus

difference in monthly deposits

 in your opinion would it be possibile?  

Thanks

 

[brokenbone]

9 minutes ago, Tanoshi said:

I assume you mean using the combo method for a retirement extension?

No, you couldn't withdraw any of the 400K if your income was only 40K per month.

You must maintain a balance of 800K by way of funds/income throughout the year.

 

If however your income was 45K per month, then;

Funds deposited of 400K + income of 45K per month.

Funds and income total 940K per annum.

After the seasoning period you can withdraw 140K.

Income of 45K x 12 = 540K + 400K funds = 940K, the difference being 140K above 800K available to withdraw.

 

thanks, that leaves me with just one question:

do i have to prove i transfer my pension to thailand ?

and can the IO deny my extension by demanding never-ending proofs as far as creativity last until my visa expire  next month ?

Edited February 11, 2019 by brokenbone

[Tanoshi]

2 minutes ago, skatewash said:

Still unclear on the last question regarding source of funds.  I do understand the paramount importance of the money being deposited coming from overseas, but did you understand them to care that it came only from a pension?  If I do not have a pension but I can transfer the required amount monthly to Thailand does it matter that the source of that income is from investments and not from a fixed pension?  I am going to be able to show investment accounts and statements showing transfers from those foreign (outside Thailand) investment accounts to Thailand, but they are not ultimately coming from a pension.  I'm never going to be able to show a letter that states what my income is for the year.  Is that required or is it enough to have the proper monthly deposits (marked with international codes) coming into my Thai bank account?

Sorry, I'll rephrase.

The source of the deposits - from overseas, the source of the income (private/company, government state pensions, investments, dividends, - immaterial)

There looking for FTT or BTN codes, although some deposits gave more information of the payee on the HQ statements.

[Tanoshi]

4 minutes ago, brokenbone said:

do i have to prove i transfer my pension to thailand ?

and can the IO deny my extension by demanding never-ending proofs as far as creativity last until my visa expire  next month ?

Yes, deposits from overseas should record as FTT or BTN depending on the method you use to transfer your funds.

 

As long as your Thai bank statements are clear, no further evidence should be required, but if they had a query, they could always ask for additional proof in the form of a UK bank statement, or receipt of transfer from another organisation.

[brokenbone]

2 minutes ago, Tanoshi said:

Yes, deposits from overseas should record as FTT or BTN depending on the method you use to transfer your funds.

 

As long as your Thai bank statements are clear, no further evidence should be required, but if they had a query, they could always ask for additional proof in the form of a UK bank statement, or receipt of transfer from another organisation.

i transfer myself, but not monthly, i transfer 100k as needed

[Andrew Dwyer]

Great job Mr T. !!

[Tanoshi]

21 minutes ago, bigginhill said:

Thanks for info, I was worried but by the info you have shared this year I will be ok.

 

However.. reading the post above, next year should I want to do a combo method of 

300,000 in the bank plus

tot in letter of income plus

difference in monthly deposits

 in your opinion would it be possibile?  

Thanks

 

If you had 300K deposited in a Thai bank, then you'd need to prove a minimum income of 42k per month throughout the year.

You couldn't withdraw any of the 300K.

 

You should be wary of exchange fluctuations throughout the months as well, if working near to the bone.

[Kenny202]

2 hours ago, Delight said:

Did you perhaps ask a Q pertaining to my 'Too much Money' post

i.e wishing to move from an immigration extension to a marriage extension  when my bank balance may show 2 Million Baht ?

Why on earth would it be too much and moreso why would u ask a question like that? Wind up?

 

The only greif you will get is the IO grumbling about doing all the extra paper work when you qualify for retirement. And why would you?

[Tanoshi]

7 minutes ago, brokenbone said:

i transfer myself,

Bank to bank?

 

7 minutes ago, brokenbone said:

but not monthly, i transfer 100k as needed

Must be monthly of 40K marriage, 65K retirement.

 

Sporadic deposits are not acceptable. 

 

[brokenbone]

2 minutes ago, Kenny202 said:

Why on earth would it be too much and moreso why would u ask a question like that? Wind up?

 

The only greif you will get is the IO grumbling about doing all the extra paper work when you qualify for retirement. And why would you?

no, i have come across this many times,

its that immigration wants to push you from marry visa to retirement visa, so if you got 800k+, -you get to deal with retirement visa desk, but if you got less, they cant diverse

[Thailand]

Great info.

So a renewal of extension of stay from say August of 2019 will be checked for compliance upon renewal in August of 2020?

 

A thought, depositing 800K 3 months prior to the August 2019 renewal and the same month starting 65K+ for the following 12/13 months would meet income requirements in 2020 and allow immediate expenditure of the 800K?

[brokenbone]

6 minutes ago, Tanoshi said:

Bank to bank?

 

Must be monthly of 40K marriage, 65K retirement.

 

Sporadic deposits are not acceptable. 

 

yes, bank account to bank account.

so that mean combo method with embassy letter dont work any more, since i need to use the transfer every month, and use that as proof instead,

which cost money every time i transfer no matter of amount.

and who knows if transferring myself is accepted with my typical luck

Edited February 11, 2019 by brokenbone

[Tanoshi]

16 minutes ago, Andrew Dwyer said:

Great job Mr T. !!

Mr T  

[Kenny202]

7 minutes ago, brokenbone said:

no, i have come across this many times,

its that immigration wants to push you from marry visa to retirement visa, so if you got 800k+, -you get to deal with retirement visa desk, but if you got less, they cant diverse

I get them trying to push me too (I'm on a child dependant visa) but they can't push you to a retirement visa against your will. They can try. If you were that worried about it split your funds up and only have 400k in the account you show them. If you have that sort of money sitting over here in all honesty I don't know why you would want do marry over retirement. Retirement so much easier. Only reason I do it is I have my money tied up back home at a good rate and doesn't make sense to me to have 800k sitting around doing nothing over here, even more so now

[bigginhill]

8 minutes ago, Tanoshi said:

If you had 300K deposited in a Thai bank, then you'd need to prove a minimum income of 42k per month throughout the year.

You couldn't withdraw any of the 300K.

 

You should be wary of exchange fluctuations throughout the months as well, if working near to the bone.

What I meant was that the 800,000 would be a combo made up of 3 different methods ( slight variation on the first combo method you shared)

300,000 bank + say 250,000 in an embassy income letter + monthly deposits of 21,000 ( 300,000+ 250,000= 550,000 + 252,000 (12x21,000)

It is very similar to the first combo example.

Is it a possibility?

Problem is having to plan 12 months ahead, if not done properly causes a f... up

Thanks

[overherebc]

2 minutes ago, Thailand said:

Great info.

So a renewal of extension of stay from say August of 2019 will be checked for compliance upon renewal in August of 2020?

 

A thought, depositing 800K 3 months prior to the August 2019 renewal and the same month starting 65K+ for the following 12/13 months would meet income requirements in 2020 and allow immediate expenditure of the 800K?

Looks like that but would that be understood that way. If no previous record of 65,000 a month exists the extension first issued would have to comply with the 3 months after rule while it runs it's course.

So I see it as the money in the bank and times is clear so a second bank book showing the 65,000 a month coming in would be ok for renewal 'next year' but you are still stuck with the rules during the first year.

Interpretation at any/all offices will be the basis for that decision.

[Tanoshi]

10 minutes ago, brokenbone said:

yes, bank account to bank account.

so that mean combo method with embassy letter dont work any more, since i need to use the transfer every month, and use that as proof instead,

which cost money every time i transfer no matter of amount.

and who knows if transferring myself is accepted with my typical luck

May I ask your nationality?

 

Are you married or single?

Edited February 11, 2019 by Tanoshi

[brokenbone]

3 minutes ago, Tanoshi said:

May I ask your nationality?

 

Are you married or single?

i'm single, western nation

[KiChakayan]

2 hours ago, brommers said:

I have no problem with meeting the requirements but would love to know why they freeze 400k in your account. It achieves nothing for Immigration purposes and could be inconvenient for some. Has anyone heard any cogent reason for this?

If it is an indirect way to increase the deposit (to an effective 1200,000 ?) as Sheryl pointed out in another thread it would be a clever move. Someone else mentioned that 400000 is the mandatory health insurance coverage for the O-X visa. Maybe far fetched..

Another thought I've had was that they want people to move to the income alternative. They could could be thinking about income tax... But then I'd see all the people with higher income moving to Malaysia.

Edited February 11, 2019 by KiChakayan

[seajae]

I transfer money to my thai bank account every 4 weeks, thats 13 transfers a year and it averages out well over the amount required. Going by the new laws this is still ok as it totals more than the requirement a year or are you saying that it will not be accepted. Doesnt really matter as I will now deposit the required amount but interested if they are now saying it cant be done, I have used this method of transfers for years

[kannot]

3 hours ago, overherebc said:

Nice clear post.

yeah maybe TV could remove the other 25 topics on the same subject

[kannot]

24 minutes ago, Tanoshi said:

Sporadic deposits are not acceptable.

ridiculous.......to be expected  though

[Tanoshi]

7 minutes ago, brokenbone said:

i'm single, western nation

OK thanks, so your from one the nationalities who can still obtain a letter of income from their Embassy?