Income change to 800k extension method.

[marcusarelus]

American.  If I have an income 65k method extension for retirement and my income does not show up one month can I switch my next extension to the 800k method if I have the money in the bank for 3 months prior to my extension application? 

[JackThompson]

Yes, you can use either method at each extension. 

The new rules state only 2 months seasoning, but some offices are demanding 3 months seasoning in direct contradiction to the official rules, so best to have 3 months to be on the safe-side.

 

Using the "money in the bank" method also avoids some offices demanding to see documents indicating the source of the monthly-income, and possibly also claiming only "govt pension" income sources are acceptable.  Both of these hurdles have been reported for retirement-based applications supported by income.

[marcusarelus]

29 minutes ago, JackThompson said:

Yes, you can use either method at each extension. 

The new rules state only 2 months seasoning, but some offices are demanding 3 months seasoning in direct contradiction to the official rules, so best to have 3 months to be on the safe-side.

 

Using the "money in the bank" method also avoids some offices demanding to see documents indicating the source of the monthly-income, and possibly also claiming only "govt pension" income sources are acceptable.  Both of these hurdles have been reported for retirement-based applications supported by income.

So if you drop below 400k that does not mean a revocation of extension if you do the income method at your next extension? 

[Thailand]

34 minutes ago, marcusarelus said:

So if you drop below 400k that does not mean a revocation of extension if you do the income method at your next extension? 

Definitely yes, no ,maybe.

[marcusarelus]

Just now, Thailand said:

Definitely yes, no ,maybe.

Since this is Thai Visa the definitive source of all things visa ish.  I assume someone here has the actual answer. 

[Jingthing]

Yes you can.

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

[ubonjoe]

48 minutes ago, marcusarelus said:

So if you drop below 400k that does not mean a revocation of extension if you do the income method at your next extension? 

That has been asked before. I cannot answer the question with any certainty. Only immigration can answer the question.

I assume if you were transferring in 65k baht that would be enough to meet the 400k baht requirement when you went in to apply for the next extension using the income option.

[Leaver]

Haven't you posted in the past that you use the 800k method? 

[Tanoshi]

1 hour ago, JackThompson said:

Yes, you can use either method at each extension. 

I would agree if you changed from Income to funds, or vice versa on the date your extension was granted.

 

Changing part way through an extension, would effectively be using the combination method and even then proof of regular monthly transfers are required.

[marcusarelus]

18 minutes ago, ubonjoe said:

That has been asked before. I cannot answer the question with any certainty. Only immigration can answer the question.

I assume if you were transferring in 65k baht that would be enough to meet the 400k baht requirement when you went in to apply for the next extension using the income option.

I don't really understand what you mean.  Say I spend 65k per month?  I would have nothing in the bank. 

[marcusarelus]

16 minutes ago, Leaver said:

Haven't you posted in the past that you use the 800k method? 

I was going to change to the income method because it seems less contact with Immigration.  But before I do want to know what happens next year if SS messes up one or two of my monthly transfers.  Or lets say I use the 800 method again and have a catastrophic illness and spend all my money can I use the 65k income method or will I be kicked out of the country the day my bank balance falls below 800 or 400k depending on the date.  

[ubonjoe]

1 minute ago, marcusarelus said:

I don't really understand what you mean.  Say I spend 65k per month?  I would have nothing in the bank. 

Just transferring in the 65k baht would indicate that you had intentions to apply for the extension using the income option. It would also total to more than 400k baht which could be considered to the same as keeping 400k baht in the bank.

[Tanoshi]

11 minutes ago, marcusarelus said:

I was going to change to the income method because it seems less contact with Immigration.  But before I do want to know what happens next year if SS messes up one or two of my monthly transfers. 

Then your <deleted>!

 

12 minutes ago, marcusarelus said:

Or lets say I use the 800 method again and have a catastrophic illness and spend all my money can I use the 65k income method or will I be kicked out of the country the day my bank balance falls below 800 or 400k depending on the date.  

Next year you'll have to provide proof of keeping 800K in the bank for 3 months following the date of your extension this year, then 400k for 7 months, before topping up to 800K 2 months prior to your next extension.

If you fall below these requirements your next extension would be refused, however that would not prevent you from starting again, once you can meet the financial criteria.

[marcusarelus]

6 minutes ago, Tanoshi said:

Then your <deleted>!

 

Next year you'll have to provide proof of keeping 800K in the bank for 3 months following the date of your extension this year, then 400k for 7 months, before topping up to 800K 2 months prior to your next extension.

If you fall below these requirements your next extension would be refused, however that would not prevent you from starting again, once you can meet the financial criteria.

What happens if I change my extension to the income method in 2020? Do I have to provide proof that my bank account stayed above 400k in 2019? Or just that I had 65k income coming in every month in 2019?

[Tanoshi]

20 minutes ago, marcusarelus said:

What happens if I change my extension to the income method in 2020? Do I have to provide proof that my bank account stayed above 400k in 2019? Or just that I had 65k income coming in every month in 2019?

It would be 65K per month from the date of this years extension to next years.

12 x monthly transfers.

You can spend the 65K transfers as soon as they arrive.

There is no requirement to keep any funds in the bank if using the income method.

 

According to my IO, if using the income method, bi monthly, quarterly, or anything other than 12 monthly transfers will not be accepted. They also state the transfers should be regular, roughly within a few days of the same date each month. A transfer beginning of one month, then one following the end of the next month is also not acceptable.

Other IO's may vary with their own set requirement.

Edited May 7, 2019 by Tanoshi

[marcusarelus]

16 minutes ago, Tanoshi said:

It would be 65K per month from the date of this years extension to next years.

12 x monthly transfers.

You can spend the 65K transfers as soon as they arrive.

There is no requirement to keep any funds in the bank if using the income method.

 

According to my IO, if using the income method, bi monthly, quarterly, or anything other than 12 monthly transfers will not be accepted. They also state the transfers should be regular, roughly within a few days of the same date each month. A transfer beginning of one month, then one following the end of the next month is also not acceptable.

Other IO's may vary with their own set requirement.

So when I get my extension next year and change from 800k to the income method I would not have to show proof I complied with the 400k rule all year only that I had 65k coming in every month? 

[LUNG JIM MAE RIM]

If your monthly pension transfers come short of the required monthly amount (65K), you could use the combination method by depositing & seasoning the difference in a local bank (amount less than 800K) for 2 or 3 (?) months prior to the due date of your extension.

 

Example: 11 X 65,000 = 715,000 + 85,000 seasoned bank deposit = 800,000

           

According to the police order, this combination method is acceptable. Whether or not your local IO will accept this remains to be seen.

[Tanoshi]

1 hour ago, marcusarelus said:

So when I get my extension next year and change from 800k to the income method I would not have to show proof I complied with the 400k rule all year only that I had 65k coming in every month? 

Provided you have 12 x income transfers from the date of your previous extension, then no funds in the bank required.

[Leaver]

3 minutes ago, Tanoshi said:

Provided you have 12 x income transfers from the date of your previous extension, then no funds in the bank required.

Yes, so send your 800k to where it can work harder for you, and then send 65k every month, and be able to actually use your 800k, 65k at a time.   ????

[marcusarelus]

My question is, "If I get an extension based on 800k and fall below 400k sometime during the year and then when renewal time comes change to the income method - am I ok if I can show 65k every month?  Or do I have to show 400k to complete the year of my 800k extension?

[Leaver]

7 minutes ago, marcusarelus said:

My question is, "If I get an extension based on 800k and fall below 400k sometime during the year and then when renewal time comes change to the income method - am I ok if I can show 65k every month?  Or do I have to show 400k to complete the year of my 800k extension?

I would have thought the month before your application with the 800k method you transfer 65k.  Then, as soon as you receive your extension, move the 800k offshore and start bringing it back in, at 65k a month. 

 

Come next renewal, you should have 12 months of 65k transfers, so good to use the 65k method.

 

The elephant in the room is the 90 day reports, and some immigration offices wanting to see a bank book balance.  To cover yourself for this, you really need to leave the 800k in for the 3 months after, and the 400k in until the last report, then you should be fine to switch, but it ties up a lot of money. 

 

They don't make it easy, and they make so you never really know where you stand.  

[marcusarelus]

8 hours ago, Leaver said:

I would have thought the month before your application with the 800k method you transfer 65k.  Then, as soon as you receive your extension, move the 800k offshore and start bringing it back in, at 65k a month. 

 

Come next renewal, you should have 12 months of 65k transfers, so good to use the 65k method.

 

The elephant in the room is the 90 day reports, and some immigration offices wanting to see a bank book balance.  To cover yourself for this, you really need to leave the 800k in for the 3 months after, and the 400k in until the last report, then you should be fine to switch, but it ties up a lot of money. 

 

They don't make it easy, and they make so you never really know where you stand.  

How will they know if I leave the 400k in if I use a different account for the 65k and the 400k?  I have a direct deposit account for the 65k and a regular savings account for the 400k.

Edited May 7, 2019 by marcusarelus

[jacko45k]

13 hours ago, marcusarelus said:

Since this is Thai Visa the definitive source of all things visa ish.  I assume someone here has the actual answer. 

Some people post actual police orders and regulations, others post actual personal experiences, some post hearsay. You are asking of a situation where the consequences have not been regulated, nor experienced yet. I expect the situation may occur when people are 4+ months into a post March 2019 retirement extension based on money in the bank and have foolishly let their money fall below 400k. As of yet I have not read if proving the 400k is maintained beyond the 3 month proof of the 800k will be asked. 

Edited May 7, 2019 by jacko45k

[billsmart]

Yes, you can switch your method from income to deposit to qualify for a retirement extension for a Type-O visa. You can also switch back and forth between using retirement qualifications to marriage or guardian qualifications.

[Henryford]

11 hours ago, Tanoshi said:

It would be 65K per month from the date of this years extension to next years.

12 x monthly transfers.

You can spend the 65K transfers as soon as they arrive.

There is no requirement to keep any funds in the bank if using the income method.

 

According to my IO, if using the income method, bi monthly, quarterly, or anything other than 12 monthly transfers will not be accepted. They also state the transfers should be regular, roughly within a few days of the same date each month. A transfer beginning of one month, then one following the end of the next month is also not acceptable.

Other IO's may vary with their own set requirement. 

Is that in line with the new regulations. They only state MONTHLY transfers of 65k, nowhere does it say on the same day. I do monthly transfers but i wait until the exchange rate is at a high in the month so maybe not always on the same day. Am i wasting my time?

[brommers]

Has anyone been able to ascertain the reasoning behind the new stipulation that you must keep 400k in your account if using the 800k route? I have heard various suggestions but not a clear rationale.

 

But then I guess it presupposes that Immigration actually knows why they brought in this requirement.

[jacko45k]

8 minutes ago, brommers said:

Has anyone been able to ascertain the reasoning behind the new stipulation that you must keep 400k in your account if using the 800k route? I have heard various suggestions but not a clear rationale.

 

But then I guess it presupposes that Immigration actually knows why they brought in this requirement.

Don't look for rhyme nor reason here!

A lot of gossip was it was designed to prevent the agent or otherwise avoidance of the 'seasoning' of the 800k in a Thai bank account. Not sure how as it simply made it more difficult for those who already complied, and drive them towards those helping in the avoidance, and maybe that was more the reason!

 

Edited May 8, 2019 by jacko45k

[JackThompson]

11 hours ago, marcusarelus said:

My question is, "If I get an extension based on 800k and fall below 400k sometime during the year and then when renewal time comes change to the income method - am I ok if I can show 65k every month?  Or do I have to show 400k to complete the year of my 800k extension?

It's a good question.  A "sane" interpretation would be that you had the income the whole year, so it's fine.  But, they could also turn around and say you have been "on overstay" since the balance went below 400K. 

 

The question is, is the 400K year-round part of the current/last-extension's qualifications, or the qualifications for the next year's extension?  Given Jomtien are asking for "bank-book updates" after 90-days, the 800K for 3 mo after would seem to be part of the previous-extension there.  But perhaps they are just improvising, and it does not reflect nationwide policy - to the extent such a thing exists in this context.

 

I would say the most important factor, is whether the IO is angry you are applying in-person, vs using an agent.  The lack of clarity on these matters seems to be a way to maximize IOs ability to find a way to disqualify honest, in-person applications when/if they feel like it.  If they are looking for a way out of processing your application, and you didn't keep the 800K/400K for the previous year, they might use that to do so.

[Boit]

I used to be clear on this, but after reading these replies ... 

Do I need B800k for extending my retirement visa, or B400k? 

[Pib]

1 minute ago, Boit said:

I used to be clear on this, but after reading these replies ... 

Do I need B800k for extending my retirement visa, or B400k? 

You need Bt800K.