Income requirement

[rethaier]

Just now, KhunFred said:

All these problems disappear if you get your extension at Chonburi Immigration by paying a fee and showing evidence of enough income. I was never asked where the income is deposited. You call it "bribery", they call it "business".

Not so easy if one lives in chiang rai.  but still, as you say, one needs evidence of income just the same.

 

 

[TheThai]

I was told by Jomtien Immigration officer they want to see a government pension letter to corroborate the 65k minimum income, along with the supporting Thai bank statement and Letter.   Other offices or immigration officers for that matter may not be as strict on the policy

[rethaier]

35 minutes ago, billd766 said:

I did my retirement planning back in 2002 on 70 THB/GBP. Now can you honestly predict the forex in the next week/ month/year.

 

In 2002 NOBODY knew or could predict about the financial crash of 2008, Brexit and its fallout from 2016 or the strength of the Thai baht.

 

So was I wrong 17 years ago. I have no idea nor do any other financial "experts" in real life and certainly any of the ones on TVF.

correct.

 

[glegolo]

3 hours ago, rethaier said:

Where did 189 / month come from?

 

Rethaier said;

When I moved here in 2010 the exchange rate was much more favorable.  Regardless, your criticism in unwelcome und unhelpful.

----------------------------------------------------------

ROE was in 2010 at average; 31,73

ROE are now today in 2019 about; 30,65

Counting i.e. 400.000 baht yearly you have lost

in ROE compared to today;  USD 444.- per year (USD 37.- per month)

 

So still, it is even worse than I originally wrote, we are talking about

USD 37.- a month.....??????

 

glegolo

[Gumballl]

11 minutes ago, glegolo said:

Rethaier said;

When I moved here in 2010 the exchange rate was much more favorable.  Regardless, your criticism in unwelcome und unhelpful.

----------------------------------------------------------

ROE was in 2010 at average; 31,73

ROE are now today in 2019 about; 30,65

Counting i.e. 400.000 baht yearly you have lost

in ROE compared to today;  USD 444.- per year (USD 37.- per month)

 

So still, it is even worse than I originally wrote, we are talking about

USD 37.- a month.....??????

 

glegolo

Agree. Some folks should not be living in Thailand, much less starting a huge family, if the visa deal is broken by a mere $37 a month.

 

Before coming to live in Thailand, save up 400K (if married to a Thai) or 800K if single, and deposit that money into an account. Don't touch it! Then use pension, or other funds, for day-to-day expenses.

[Martyp]

[UKresonant]

4 hours ago, rethaier said:

Call it what you like but get the facts straight first.  I could not predict the depreciation when I moved.

Have to agree that the rapid recent change would not be reflected in any normal financial plan. Life events do not normally follow such plans in any case.

 

The day I got my first non-O ME visa in March 2018 the exchange rate was 44.13 Baht to the pound, so that made the plan for the UK pension notionally being allocated to Thailand long term activities £985 net approx 43470 baht only 16 months later I'm looking at £1013 x 37.22 approx 37700.  So in 12 months I should plan for 34400 baht a month perhaps! Compared with 78254 baht using the exchange rate on the day of our Buddhist wedding ceremony ????.

Looks like I'll potentially be a visitor to Thailand for some time.....

 

The gift from your Daughter is surely legitimate resources from overseas.....

 

 

 

Edited August 4, 2019 by UKresonant

[UKresonant]

4 hours ago, glegolo said:

Maybe it can help some other guys to think before move... It is way to narrow to stay or not to stay and just USD 189.- in the balance....

Think in what way, to plan your lifestyle around Thai immigration requirements ????????

 

Perhaps, thinking,

Though I have sufficient overseas income, it is of no use, because it can no longer be put through a essentially worthless rubber stamp process, to be recognized. 

Though statements of income, could be provided to meet the requirements, there is no ongoing continuity, everything has to start again in 12 months or less, even though the gross pensions would be paid as long as your breathing!

The money can no longer be Gross, and is further reduced by fees for an increased frequency of international transfers.

Impractical and ill advised to send all your money to Thailand as an extension of stay could be denied, you could have to leave and your money could still be getting credited to Thailand, and you need the money for a visa application. As it has to be in a sole account, the wife could have difficulty accessing our money.

The VISA planned to be used for a number of years for access to be with the wife  and kids, is suddenly withdrawn from issue in your home country.

etc. 

You can do lots of thinking and planning, but of what use is it, events are out of your control in any case, the data you did your thinking around are unstable and have lost any long term credibility . Only your relationship with your family are ongoing in periods measured in more than months..... 

 

 

 

 

[rethaier]

2 hours ago, glegolo said:

Rethaier said;

When I moved here in 2010 the exchange rate was much more favorable.  Regardless, your criticism in unwelcome und unhelpful.

----------------------------------------------------------

ROE was in 2010 at average; 31,73

ROE are now today in 2019 about; 30,65

Counting i.e. 400.000 baht yearly you have lost

in ROE compared to today;  USD 444.- per year (USD 37.- per month)

 

So still, it is even worse than I originally wrote, we are talking about

USD 37.- a month.....??????

 

glegolo

My pension is Australian.  Was around 33 it is now 21.5.  You make too many assumptions and they have nothing to do with the question I asked.

[glegolo]

deleted

Edited August 4, 2019 by glegolo

[emptypockets]

Nobody knew the exchange rates would do what they have done. But having four kids isn't an unavoidable outcome. And on a pension no less.

I won't say what I really think as it will make no difference to the reality facing the OP.

Suffice it to say when I got seriously involved with my now wife I had a vasectomy in Oz. The seven grandkids are just fine for us. 

[UKresonant]

Having four kids isn't an unavoidable responsibility, it is here and now situation. But look the income of many Thai families, they muddle through and then the kids are grown up before you know it. It is what it is.

It is a pity the Marriage extension rules don't allow for the income / Deposit combo method, that would be easy to relieve the potential stress from the immigration angle, say

THB39900/month income and 1200 baht in a deposit account, would be a big improvement. 

 

Edited August 4, 2019 by UKresonant

[emptypockets]

15 minutes ago, UKresonant said:

Having four kids isn't an unavoidable responsibility, it is here and now situation. But look the income of many Thai families, they muddle through and then the kids are grown up before you know it. It is what it is.

It is a pity the Marriage extension rules don't allow for the income / Deposit combo method, that would be easy to relieve the potential stress from the immigration angle, say

THB39900/month income and 1200 baht in a deposit account, would be a big improvement. 

 

Don't disagree with what you are saying. People all over the world have 4 or more kids. Maybe the OP already has four kids from a previous life - I really don't know. I'm the second of four kids and Mum and Dad worked hard to raise us all. Mum was 26 when I was born, Dad thirty.

Not many start a large family in the latter part of their life, in a foreign country, with little certainty of ongoing residence while in receipt of a pension.

[rethaier]

55 minutes ago, emptypockets said:

Nobody knew the exchange rates would do what they have done. But having four kids isn't an unavoidable outcome. And on a pension no less.

I won't say what I really think as it will make no difference to the reality facing the OP.

Suffice it to say when I got seriously involved with my now wife I had a vasectomy in Oz. The seven grandkids are just fine for us. 

I married a lady with 3 children then her sister died and we got one more.

 

[rethaier]

3 minutes ago, emptypockets said:

Don't disagree with what you are saying. People all over the world have 4 or more kids. Maybe the OP already has four kids from a previous life - I really don't know. I'm the second of four kids and Mum and Dad worked hard to raise us all. Mum was 26 when I was born, Dad thirty.

Not many start a large family in the latter part of their life, in a foreign country, with little certainty of ongoing residence while in receipt of a pension.

I married a lady with 3 children then her sister died and we got one more.  Call me stupid if you wish but at the time it was no problem.

 

[emptypockets]

3 minutes ago, rethaier said:

I married a lady with 3 children then her sister died and we got one more.  Call me stupid if you wish but at the time it was no problem.

 

Understand what you are saying. It wasn't clear in your OP. Good luck to you and I hope it all works out OK.

[billd766]

6 hours ago, rethaier said:

Yes, I have considered Savanakhet but it is far less expensive to have money transferred than to go there.  Transferring costs about 3500 baht per year and my visa is 2000, that totals 5500.  Whereas, I figure after fuel, hotels, meals and visa it would cost about 20,000 to go through Savanakhet.

 

 

I have done a quick Google search and for me living in rural Khampaeng Phet to get to Mukdahan Bus Station is around 710 km and 10 hours of non stop driving. In reality it will be more like 12 hours and I reckoned the cost of diesel @ 27 thb per litre it will cost me 1,600 thb each way, plus 2 night stops in Mukdahan and 1 in Savannakhet, say 3,000 thb, plus 5,000 for the visa. About 14,000 thb all told.

 

Next I will look at the cost of a bus to BKK and back plus 2 flights Don Muang to Mukdahan and return. It will be easier on my body but perhaps more difficult with timing. 

[billd766]

12 minutes ago, rethaier said:

I married a lady with 3 children then her sister died and we got one more.  Call me stupid if you wish but at the time it was no problem.

 

No it certainly wasn't stupid and the fact that you added one more from your SIL fills me with admiration for you. 

 

I am a little luckier that you as I married a Thai lady with no children and our son was born when I was 60 and my wife 39. Also I have 3 pensions from the UK but it does get a bit tight at times and the way Brexit is running at the moment it will get a bit tighter but with my wife running a food stall at least we wont starve.

[James26]

What is the best most affordable way to transfer funds from a US bank account to a Thai Bank account that will be properly coded and applicable to funds received for a retirement extension?

[jacko45k]

19 hours ago, rethaier said:

But what difference does my source of funds make?

For some extension types you are required to show funds come from 'overseas'. There is a monthly requirement to be demonstrated. It would be simpler if it arrived as a single (consolidated) transfer at about the same time each month. 

[1FinickyOne]

i would imagine that all the possible different situations is what makes writing a coherent policy difficult.

 

monthly money from a daughter is not as sure as a govt pension. 

 

very nice of your daughter. 

[onera1961]

16 hours ago, rethaier said:

My pension is Australian.  Was around 33 it is now 21.5.  You make too many assumptions and they have nothing to do with the question I asked.

I think you should brace for 14 AUD within a few years. You have to accept that Thailand has potential to accumulate huge amounts of foreign currency and Australian currency will be hit hard when Chinese economy comes to a grinding. No one can predict the future but discarding current trends for future prediction is not very prudent. All my retirement plan is based on 25BHT/USD. 

Edited August 5, 2019 by onera1961

[DJ54]

On 8/4/2019 at 10:25 AM, glegolo said:

about USD 189.-

Huh....$189?

[Tanoshi]

45 minutes ago, onera1961 said:

I think you should brace for 14 AUD within a few years. You have to accept that Thailand has potential to accumulate huge amounts of foreign currency and Australian currency will be hit hard when Chinese economy comes to a grinding. No one can predict the future but discarding current trends for future prediction is not very prudent. All my retirement plan is based on 25BHT/USD. 

I predict the Thai government will soon be forced to take action to devalue the baht.

Exports are down 12 billion a month from last years figures.

Tourist figures are down, just ask the hoteliers.

Hundreds of expats being forced to find alternatives.

[gearbox]

"With the exchange rate being so bad, and a wife and 4 kids, it is difficult to make ends meet so my daughter in the united states helps me out by depositing money into my Thai bank account each month.  If the baht continues to strengthen I may also have trouble qualifying for my visa, so I am wondering if the money she sends me monthly will be considered when assessing my monthly income to qualify for my visa?"

 

Looks like you are married and need only 400k in the bank. Why don't you ask your daughter to put 400k in your Thai account? Your visa issues will be sorted out.

[mistral53]

2 hours ago, onera1961 said:

I think you should brace for 14 AUD within a few years. You have to accept that Thailand has potential to accumulate huge amounts of foreign currency and Australian currency will be hit hard when Chinese economy comes to a grinding. No one can predict the future but discarding current trends for future prediction is not very prudent. All my retirement plan is based on 25BHT/USD. 

Are you suggesting that it is possible that China's economy will falter and Thailand's economy could surge as a result in that environment? You are right that no one can predict the future, but there is no way that China's economy contracts in a vacuum - China would take the whole world economy down like a tsunami, I doubt very much that Thailand would be the last economy standing........

As for foreign currency accounts - just look at China and how their current account surplus is helping the Yuan right now.

[ThaiBunny]

4 minutes ago, mistral53 said:

Are you suggesting that it is possible that China's economy will falter and Thailand's economy could surge as a result in that environment? You are right that no one can predict the future, but there is no way that China's economy contracts in a vacuum - China would take the whole world economy down like a tsunami, I doubt very much that Thailand would be the last economy standing........

As for foreign currency accounts - just look at China and how their current account surplus is helping the Yuan right now.

What impact do you see the ageing of China's population will have?

[crazykopite]

On 8/4/2019 at 11:05 AM, Tanoshi said:

It's ironic that if you have 800K on deposit in a Thai bank, no questions are asked.

If your using 65K monthly income method, some IO's question where the funds originated and request a Pension statement letter as supporting evidence.

I think that the majority of IOs would prefer the 800,000 baht in your account the workload is a lot easier for them .

 

[Tanoshi]

20 minutes ago, crazykopite said:

I think that the majority of IOs would prefer the 800,000 baht in your account the workload is a lot easier for them .

 

Obviously, or an Embassy Income letter.

Anything that saves them making a calculation.

 

I don't think having to perform basic maths was in their original job description.

Edited August 5, 2019 by Tanoshi

[billd766]

6 hours ago, gearbox said:

"With the exchange rate being so bad, and a wife and 4 kids, it is difficult to make ends meet so my daughter in the united states helps me out by depositing money into my Thai bank account each month.  If the baht continues to strengthen I may also have trouble qualifying for my visa, so I am wondering if the money she sends me monthly will be considered when assessing my monthly income to qualify for my visa?"

 

Looks like you are married and need only 400k in the bank. Why don't you ask your daughter to put 400k in your Thai account? Your visa issues will be sorted out.

 

Great idea if your daughter has a spare AUD$20,000 lying around doing nothing.

 

Nobody in my UK family has a spare £11,000 lying around.