combination for 800,000

[overherebc]

Are any offices allowing the combo' method.

Last I heard was the income % had to be well over the 50% mark, eg 60% income 40% savings.

Edit

Or has the 2/3 month before and after put an end to it?

Edited December 22, 2020 by overherebc

[glegolo]

I Have never ever even heard about such a thing like you are suggesting, never..... Chaiyaphum we do it the normal way combo as usual; part bank + part income..

 

Of course you can not come and show usd 45.- in income and the rest in savings..... But still...

 

glegolo

[overherebc]

4 minutes ago, glegolo said:

I Have never ever even heard about such a thing like you are suggesting, never..... Chaiyaphum we do it the normal way combo as usual; part bank + part income..

 

Of course you can not come and show usd 45.- in income and the rest in savings..... But still...

 

glegolo

I'm not suggesting I'm asking?

Big difference.

[ubonjoe]

32 minutes ago, overherebc said:

Last I heard was the income % had to be well over the 50% mark, eg 60% income 40% savings.

There has never been such a rule. They might be some offices that require it but it not written anywhere.

It was different before the changes done last year. Before that the money did not have to be in bank for any amount of time if using the combination option. Now it has to be in the bank for 2 months.

[overherebc]

2 minutes ago, ubonjoe said:

There has never been such a rule. They might be some offices that require it but it not written anywhere.

It was different before the changes done last year. Before that the money did not have to be in bank for any amount of time if using the combination option. Now it has to be in the bank for 2 months.

The 60/40 I wrote was an example, not a 'quote' that will be obvious to you I know.

I suppose it all just ( again ) boils down to every office will put it's own requirements into the equation on the day.

[KannikaP]

My very nice IO at Phitsanulok told me that as long as the regular, similar monthlies plus cash in the bank added up to more than 800k he would accept it.

I do 50k per month plus 220k in the bank.

[ubonjoe]

47 minutes ago, overherebc said:

I suppose it all just ( again ) boils down to every office will put it's own requirements into the equation on the day.

The requirement for 2 months before the date of application may of affected what some office will say is needed.

Some offices were saying a minimum amount of income before to prevent people from showing a small amount of income to get around the 3 months before requirment for the money in the bank.

[murraynz]

22 hours ago, glegolo said:

I Have never ever even heard about such a thing like you are suggesting, never..... Chaiyaphum we do it the normal way combo as usual; part bank + part income..

 

Of course you can not come and show usd 45.- in income and the rest in savings..... But still...

 

glegolo

Likewise...i  did combo method at Jomtien about 4 weeks ago..

There needs to be minimum 400,000in thai bank,2 months before and 3 months after...

Plus..proof of income/pension,sent from overseas,equivalant to another 400,000 per yer,or 37,000 thb + per month...

Some passport holders,need to get their income verified by their embassy..

[ubonjoe]

16 minutes ago, murraynz said:

There needs to be minimum 400,000in thai bank,2 months before and 3 months after...

That is a Jomtien immigration requirement. There is no written rule that states a minimum amount in the bank for the combination option. It could be as little as 100k baht if that is all that is needed to reach a total of 800k baht when combined with income.

[Makoshark]

I can't fathom why 'anyone" would put 800.000 in a Thai Bank account when you could invest that money. 

 

I deposit 65,000 every month for the last 4 years and invest the rest.

 

Just doesn't make sense to make the banks rich ! ! !

[Moonlover]

On 12/22/2020 at 11:02 AM, KannikaP said:

My very nice IO at Phitsanulok told me that as long as the regular, similar monthlies plus cash in the bank added up to more than 800k he would accept it.

I do 50k per month plus 220k in the bank.

Same in Sakon Nakhon. I was going to do 200K plus my income, but he couldn't accept it because the 200k should have been in a separate account. My mistake which will be corrected for next year.

[ClaySmc]

Yesterday at Chang Wattana , I asked about the combination option for my extension, which is due March 13, and the woman at the information desk at the entrance, asked if I could get a letter from my embassy (I assumed she meant the income affidavit, which the US Embassy stopped giving out). When I said no she said I need to have the 800k in the bank. 

[sudsy]

I plan on doing the combination. Thinking of arriving on an exempt but with only 60 days left after quarantine it will be impossible to have the money in a Thai banks for two months.   I can do a month beforehand.   Is there any way to work around this?  Even if I do a Tourist Visa (90 days instead of 75) it still will be tight. 

[ubonjoe]

22 minutes ago, ClaySmc said:

Yesterday at Chang Wattana , I asked about the combination option for my extension, which is due March 13, and the woman at the information desk at the entrance, asked if I could get a letter from my embassy (I assumed she meant the income affidavit, which the US Embassy stopped giving out). When I said no she said I need to have the 800k in the bank. 

That was incorrect info. Chaeng Wattana has done the combination option when using money in the bank and 12 months fo transfers from abroad into a Thai bank account to prove your income.

[Peter Denis]

30 minutes ago, ClaySmc said:

Yesterday at Chang Wattana , I asked about the combination option for my extension, which is due March 13, and the woman at the information desk at the entrance, asked if I could get a letter from my embassy (I assumed she meant the income affidavit, which the US Embassy stopped giving out). When I said no she said I need to have the 800k in the bank. 

You might as well have asked the motorcycle taxi-driver.  

You can only get 'somewhat reliable' information when asking a local immigration officer about the policy re use of the combination method at your local IO, or getting recent information posted on the Forum from applicants that used that method at your IO

It is foreseen in the IO rules/regulations and has been used by many using the Monthly Income transfer method or the Embassy-issued income-letter, when neither of these methods reached the required +65K monthly income tresshold.  In such cases, it is a matter of parking an amount on your personal Thai bank-account which would bring the annual income over +800K.

Obviously it requires quite some administration, as you would need to provide evidence of meeting the other requirements for BOTH the methods you are combining.

And of course there are some IOs that do not allow use of the combination method (probably because too complicated for them to figure out whether you meet the requirements for that method).

 

Edited December 26, 2020 by Peter Denis

[ubonjoe]

6 minutes ago, sudsy said:

I plan on doing the combination. Thinking of arriving on an exempt but with only 60 days left after quarantine it will be impossible to have the money in a Thai banks for two months.   I can do a month beforehand.   Is there any way to work around this?  Even if I do a Tourist Visa (90 days instead of 75) it still will be tight. 

Most immigration offices will not do the a application for a 90 day non-o visa entry with only 2 months of transfers. Even with 12 months of transfer they will not accept it unless you have a letter from your embassy to prove you income. The list of required documents only mention the embassy letter as well. See: https://bangkokimmigration.com/wp-content/uploads/2019/09/08-edit_NON-O.pdf

[Peter Denis]

15 minutes ago, sudsy said:

I plan on doing the combination. Thinking of arriving on an exempt but with only 60 days left after quarantine it will be impossible to have the money in a Thai banks for two months.   I can do a month beforehand.   Is there any way to work around this?  Even if I do a Tourist Visa (90 days instead of 75) it still will be tight. 

As UJ already posted in response, you will not be able to make use of the combination method, because most IOs will not accept two monthly-income transfers anymore when applying for the Non Imm O Visa.

When your home-country's embassy still issues them you could apply with an Embassy-issued income-letter stating that your foreign monthly income exceeds +65K monthly (e.g. from pension or rental income or interests/dividends).

For US, UK or Australian citizens whose Embassies do not issue such income-letters anymore, you are confined to make use of the +800K Funds-in-Bank method.

With a VisaExempt entry now (since 22 December) extended to 45 days, you will have sufficient time after exiting the 15-day quarantaine to prepare and apply for the 90-day Non Imm O Visa at the local IO of the province where you plan to reside.  Such application has to be done when you still have 15 days (some IO require 23 days) left on your permission to stay, so in practice you have 14 days (or 6 days at some IOs) to open a personal Thai bank-account and ensure that the +800K are transferred and available on that account at the moment of application for the Non Imm O Visa.

[ClaySmc]

13 hours ago, ubonjoe said:

That was incorrect info. Chaeng Wattana has done the combination option when using money in the bank and 12 months fo transfers from abroad into a Thai bank account to prove your income.

Thanks UbonJoe and Peter Denis. 

 

If she had said maybe then I would have asked the second part of my question, which would be could I start with only having 3 months income in the bank with the other part being 50% of the balance, but if I needed to have 12 months income showing when I apply then I wouldn't be able to jump through that hoop. Maybe something to prepare for in applying next year, if we're allowed to switch.

[sudsy]

14 hours ago, Peter Denis said:

Such application has to be done when you still have 15 days (some IO require 23 days) left on your permission to stay, so in practice you have 14 days (or 6 days at some IOs) to open a personal Thai bank-account and ensure that the +800K are transferred and available on that account at the moment of application for the Non Imm O Visa.

After you get the 90 days, I read that it can be extended for only 7 days. That's it?  Seems a bit much to have so much in the bank for a 97 day stay.

 

Did see this:

2.3 Extention of visa is possible. Those qualified may obtain an additional one-year stay permit, counting from the date of entry to Thailand. The extension of stay is at the discretion of the immigration officer. Extension application can be made at the Office of Immigration Bureau. Please visit www.immigration.go.th for more information)

Edited December 26, 2020 by sudsy

[sudsy]

Obviously my money won't be in the account for two months.  Maybe even just days.  Is this an issue?  

 

Once in Thailand: Fidelity, Schwab, Chase any of these banks or brokerage firms is it difficult to transfer money to a Thai bank?

[Jingthing]

15 minutes ago, sudsy said:

Obviously my money won't be in the account for two months.  Maybe even just days.  Is this an issue?  

 

Once in Thailand: Fidelity, Schwab, Chase any of these banks or brokerage firms is it difficult to transfer money to a Thai bank?

Schwab is popular among expats. Fidelity is notoriously anti-expat. I've personally had bad experiences with Chase. If you have a Schwab account I would focus on that one. 

[sudsy]

1 hour ago, Jingthing said:

If you have a Schwab account I would focus on that one. 

Will they turn your Schwab account to an international one?  Does it matter if they do?  

[onebir]

1 hour ago, Jingthing said:

I've personally had bad experiences with Chase.

What about Chase to Chase Thailand? (Chase Thailand is ok for the 800k deposit, right?)

[Jingthing]

4 hours ago, sudsy said:

Will they turn your Schwab account to an international one?  Does it matter if they do?  

You're better off if you can manage to continue to present yourself as a U.S. person. It could matter to Schwab or any other firm if you come out as an expat. Also keep in mind that firms can and do change their policies about all kinds of matters over time. Many even cease to exist or merge with other firms with different policies. Another firm often mentioned as better for expats is Capital One. 

[Jingthing]

4 hours ago, onebir said:

What about Chase to Chase Thailand? (Chase Thailand is ok for the 800k deposit, right?)

Not sure about Chase Thailand. If you're showing a pattern of wiring like that though Chase will realize you're living abroad.

 

Another option is to open an account with State Department Federal Credit Union. They explicitly accept expats as clients. 

Edited December 26, 2020 by Jingthing

[ubonjoe]

6 hours ago, sudsy said:

Obviously my money won't be in the account for two months.  Maybe even just days.  Is this an issue?

The 800k baht only has to be in the bank on the day you apply for the 90 day non immigrant visa entry. You do have to show proof it came from a broad. See: https://bangkokimmigration.com/wp-content/uploads/2019/09/08-edit_NON-O.pdf

The 800k baht will then need to be in the bank for 2 months on the day you apply for the one year extension of stay based upon retirement.

[moontang]

4 hours ago, onebir said:

What about Chase to Chase Thailand? (Chase Thailand is ok for the 800k deposit, right?)

Chase Thailand is not part of the deposit insurance system in Thailand. I have been a Chase, NA customer for decades and living here for seven years and been visiting for 23.  Zero dealings with Chase Thailand, and don't even know what form they exist in here, but it isn't as a Thai bank.  Same with HSBC. 

[Tanoshi]

7 hours ago, sudsy said:

After you get the 90 days, I read that it can be extended for only 7 days. That's it?  Seems a bit much to have so much in the bank for a 97 day stay.

 

If you want to remain in Thailand after entry, then you apply to extend your stay, known as an extension.

To apply for a 1 year extension of stay you must have a 'Non Immigrant' type Visa.

Entry from a Visa exempt or Tourist Visas can only be extended for a further 30 days based on retirement.

 

For those who enter VE or TV, but then decide to remain indefinitely, Immigration offer a procedure enabling you to change your VE or TV entry to a Non O stamp, which grants a further 90 day stay and from which you can then apply for a 1 year extension of stay.

 

UJ has supplied the link to this procedure above.

If you enter VE you complete form TM87 to obtain the 90 day Non O.

If you enter TV you complete form TM86 to change Visa status from TV to Non O.

In both cases you must have at least 15 days permission of stay remaining from your entry (23 days at certain IO's) and provide evidence of 800K in a Thai bank account transferred from overseas.

 

Within the last 30 days permission of stay of the 90 days granted by the Non O, you can then apply for the 1 year extension of stay on form TM7. At this point the 800K must have been in a Thai bank for 2 months prior to the date of application.

[moontang]

6 hours ago, Jingthing said:

Schwab is popular among expats. Fidelity is notoriously anti-expat. I've personally had bad experiences with Chase. If you have a Schwab account I would focus on that one. 

Disagree.  Fidelity has an international agreement you will occasionally have to accept, when you log in.  They also accommodate expats with Thai addresses.  Recently, they added a voice recognition system and a toll free number, you can direct dial from your mobile phone in Thailand.  I have a US address, which is my parents house in America.  But, I was able to initiate a wire last month for a house I bought in the US, without having to get a code or take a call in the US... and a lot of those systems flag Google numbers, etc., and people pretending to be somewhere they are not.  Sharebuilder froze my account for being in Thailand, they are part of Cap One.  They do not understand their own rules.  The issue is their liability if you were arrested or jailed in a foreign country for your activities with one of their accounts.  Example, what if you were arrested at a workspace in BKK for working as a broker, when you were simply trading in your account?  Or, what if you lost a bundle, because you were unable to get through a government firewall or call them and couldn't trade?  

 

 

[Peter Denis]

7 hours ago, sudsy said:

After you get the 90 days, I read that it can be extended for only 7 days. That's it?  Seems a bit much to have so much in the bank for a 97 day stay.

 

Did see this:

2.3 Extention of visa is possible. Those qualified may obtain an additional one-year stay permit, counting from the date of entry to Thailand. The extension of stay is at the discretion of the immigration officer. Extension application can be made at the Office of Immigration Bureau. Please visit www.immigration.go.th for more information)

The 7 days is NOT an extension of your permission to stay.  It is a grace period on top of your permission to stay, and it is provided by your local Immigration Office (cost 2.000 THB) when you are not able to meet the requirements for your extension of stay, and at the end of those 7 days you must have left Thailand.  So basically these 7 days are to be used to arrange your leave, and it will not be counted as overstay (500 THB/day but with an overstay stamp in your passport which can make applications more difficult on return).  Also, those 7 days are not fixed, but can be shortened if the Imm officer feels that you can leave the country at shorter notice.

There are only 2 ways to extend your 90-day Non Imm O Visa at the end of its permission to stay and that is by appling for:

- the 1-year extension of stay based on that original Non Imm O Visa;

- a 60-day extension of stay for reason of being married to a Thai national or with a Thai dependent child (that 60-day extension of stay will only be provided ONCE per entry).

Obviously - when borders are open again and the current restrictions are loosened - you could of course do a border-hop and apply for a Tourist Visa or a Non Imm O Visa in a neighboring country, or simply return VisaExempt and then apply again for a new Non Imm O Visa at your local IO.