US citizen, Phuket Immigration, income method question

[Unify]

US citizen, Phuket immigration.

 

I just renewed my extension of stay, using the combo method for my non-O (retirement), but I'd like to switch to income only.

 

I'm a bit confused as to what I have to do this coming year. I know I must deposit 65k every month from overseas. But is there a minimum balance requirement for this coming year?

 

Is there a minimum balance requirement for the next year?

 

TIA ????

 

PS: I want to put this money to work, so I'd rather not park the 800k, if I can avoid it.

[ubonjoe]

If you used the combination of income and funds in the bank the funds only need to be in the bank for 3 months after the day you applied and then at least half of it until you apply for the next extension using the income option.

I assume you will be able to show at least a year of months 65k baht transfer from abroad when you apply for your next extension.

 

[Unify]

7 hours ago, ubonjoe said:

If you used the combination of income and funds in the bank the funds only need to be in the bank for 3 months after the day you applied and then at least half of it until you apply for the next extension using the income option.

I assume you will be able to show at least a year of months 65k baht transfer from abroad when you apply for your next extension.

 

Thanks UbonJoe,

How much do I need to keep in for the next 3 months? I've got about 700k in now.

 

And I assume by half, you mean I need to keep 400k in until my next renewal. Is that accurate?

[ubonjoe]

10 hours ago, Unify said:

How much do I need to keep in for the next 3 months? I've got about 700k in now.

How much of it was used to combine with your income to reach 800k baht? That is the important amount.l

It might be best to keep the 700k in the bank from the day you applied for the extension.

10 hours ago, Unify said:

And I assume by half, you mean I need to keep 400k in until my next renewal. Is that accurate?

Half of the money in the bank you used with your annual income to reach 800k baht.

[Unify]

1 hour ago, ubonjoe said:

How much of it was used to combine with your income to reach 800k baht? That is the important amount.l

It might be best to keep the 700k in the bank from the day you applied for the extension.

Half of the money in the bank you used with your annual income to reach 800k baht.

The monthly deposits were between roughly 39k and 43k. My bank balance ranged from about 612,000 -- 780,00 during the year.

 

Am I right in assuming, if I keep the 700k in the bank for 3 months, and then don't go below 400k for the rest of the length of extension, and deposit 65k every month, I should be good to switch to income only next year? 

[Alotoftravel]

I have always wondered how immigration track which method you use prior year .

At the time of my renewal , I show them my bank documents and they process it .

they never ever ask me what method I used last year . With that said , does even need to have the bank deposit or just show one year of income method? Just curious .

 

 

[ubonjoe]

22 minutes ago, Unify said:

Am I right in assuming, if I keep the 700k in the bank for 3 months, and then don't go below 400k for the rest of the length of extension, and deposit 65k every month, I should be good to switch to income only next year? 

Yes you can.

[ubonjoe]

10 minutes ago, Alotoftravel said:

I have always wondered how immigration track which method you use prior year .

They can check the file for your application done the previous year. It is easy for them to find it since there is file number for your application near your extension stamp.