Retirement Visa using monthly income rather than 800k

[DrJack54]

8 minutes ago, scubascuba3 said:

Not if he met the financials, no need for a new Non imm O, but as he doesn't he needs to use an agent or get a new one

Most folk that use an agent do not start transfers or place funds in bank for extension in 12 month time.

To switch to doing it yourself he would need start over.

New non O 

Edited September 15, 2022 by DrJack54

[DJ54]

OP guess it would be up to the IO office you use. My personal experience was unacceptable. 

Had 10 months and 1 month was total of 2 months baht deposit. Month got skipped because 

I changed banks and the direct deposit took longer than expected  to change bank. 
 

IO said understand and the total for year was well over amount required But it only showed 11

FTT deposits and must be 12. So logic didn’t work after explaining to three different rank and file. 

[JAS21]

5 hours ago, denis911 said:

Hi,

Here at Prachuap I.O, the rules are 12 x 65,000thb. On arrival at the office for renewal of extension, you have to submit a recently updated bank book, a  1-year bank statement,  (showing 12 monthly incoming credits of 65,000thb or more), and a payment advice note showing that the payments have been internationally received and also the relevant forms and photos. With Bangkok  Bank, you have to give 7 days' notice for these documents, but I believe other Thai banks will do them quicker. I am also sure other I.O's and offices have different rules, but this seems the norm here for over 3 years. 

I get around the 7 days notice problem by getting a BB statement from their head office after about nine months and nearer the time a printout of the remaining transfers… BB will issue an up to six months printout on the day

Nonthaburi always ask to see 13 months of transfers.

 

Also get the printout showing the monthly transfers are international. 
 

Then on the day update bank book and copy of that page plus the bank letter saying it is my account etc

 

Been doing it that way for a few years now

[LatPhrao]

19 minutes ago, DrJack54 said:

Because they choose not to.

Believe it or not many folk here are not short of funds and opportunity cost on a miserable 800k in a Thai bank account means very little. 

Would love to see any numbers supporting the 'many folk are not short on funds' here', as a percentage of the visa-ed population.  And also the numbers on folks here who turn to agents on moral, ethical or principle rather than be held hostage for a visa costing 800K thb.  And the absence of an honest 65K monthly foreign deposits scheme for a year. 

[scubascuba3]

33 minutes ago, DrJack54 said:

Most folk that use an agent do not start transfers or place funds in bank for extension in 12 month time.

To switch to doing it yourself he would need start over.

New non O 

When people switch over from using an agent to DIY there's a transition period where people make sure they've done the financials correctly, if they haven't they need to see an agent or get a new non imm O

[DrJack54]

9 minutes ago, LatPhrao said:

 And also the numbers on folks here who turn to agents on moral, ethical or principle rather than be held hostage for a visa costing 800K thb.

Go back and read the OP.

Not asking for advice regarding the use of agent.

Stick to thread.

I'm sure most folk are aware of agent option. 

 

[DrJack54]

4 minutes ago, scubascuba3 said:

When people switch over from using an agent to DIY there's a transition period where people make sure they've done the financials correctly, if they haven't they need to see an agent or get a new non imm O

Yes the "transition period" is 12 months as I have posted. 

[Nickelbeer]

I’ve used the monthly income method for nearly seven years with the assistance of an agent. Those who think that parking 400 to 800 thousand baht in a Thai bank is a mere annoyance, are in a fortunate position. For many of us, it is simply impossible.

[DrJack54]

11 minutes ago, Nickelbeer said:

I’ve used the monthly income method for nearly seven years with the assistance of an agent

Unusual. 

What service does an agent provide if using income method. 

[scubascuba3]

8 hours ago, DrJack54 said:

Yes the "transition period" is 12 months as I have posted. 

Yep so starting over with a new non imm O may not be necessary , your posts implied it was essential

Edited September 15, 2022 by scubascuba3

[DrJack54]

54 minutes ago, scubascuba3 said:

Yep so starting over with a new non imm O may not be necessary , your posts implied it was essential

My post was clear.

Not many folk use and agent for extension and straight away start to meet the financials for the next extension.

Either by transfers or money in the bank.

Hence in vast majority of cases folk having used an agent will exit and reenter to start over. 

[hotchilli]

23 hours ago, Mover1 said:

I was told it's 65,000 baht a month but can this be figure averaged out over the year? I've paid in more than this amount per month if averaged out, but it was in 6 payments throughout the year, rather than every month exactly. Would i still qualify using this method?

Basically no... it has to be 12 monthly transfers one each month of at least 65,000 baht.

[Nickelbeer]

12 hours ago, DrJack54 said:

Unusual. 

What service does an agent provide if using income method. 

Conduit for brown envelope. Some members of Asean Now insist that agents temporarily place money into accounts so that IO can see it.  That has never been done with my account, as I have a running tally of every transaction. My agent merely seems to be the “delivery boy” for the brown envelope. They drive me to Immigration and I give them my Passport, bank book and 14 thousand baht and in several weeks, my passport and bank book are returned with my extension of stay. I don’t ask any questions. I only know that I cannot do the renewal of extension by myself. Happy to have my agent/landlady handle all the details.

[DrJack54]

2 minutes ago, Nickelbeer said:

They drive me to Immigration and I give them my Passport, bank book and 14 thousand baht and in several weeks, my passport and bank book are returned with my extension of stay.

The agent is not using "income method" 

Would be "money in bank method".

In any event off topic.

The OP was not asking about agents. 

[LatPhrao]

14 hours ago, DrJack54 said:

Go back and read the OP.

Not asking for advice regarding the use of agent.

Stick to thread.

I'm sure most folk are aware of agent option. 

 

Wow!

[wwest5829]

Thai Wife and Stepdaughter grated 10 year US Tourist Visas this morning in anticipation of our planned trip covering the month of April 2023. I have been on O-A Visa Extensions of Stay for over a decade using the 65K monthly transfers. Plan is for me to exit without re-entry permit, thus voiding the O-A Visa ... re-enter Visa Exempt, extend and during that time apply for the 90 day "O" Visa and then a one year Extension of Stay based on proof of 65K monthly transfers for over the past year. If anyone has gone this route, especially in Chiang Mai I would appreciate hearing of your experience.

[LatPhrao]

15 hours ago, DrJack54 said:

The requirements for a 12 month extension based on retirement are clear. (it's not a requirement visa) 

 

If previously using an agent you would need to obtain a new non O and meet the financials.

 

 

Okay, you leave using the agent, you go to obtain a new non O.  You have over a year's history of banking foreign transfers into a Thai bank account of 65K thb.  Does that meet the financials criteria fully when obtaining a new non O?  

[DrJack54]

4 minutes ago, LatPhrao said:

Okay, you leave using the agent, you go to obtain a new non O.  You have over a year's history of banking foreign transfers into a Thai bank account of 65K thb.  Does that meet the financials criteria fully when obtaining a new non O?  

That should satisfy immigration as you can show 12 months of transfers.

 

As usual some offices have their own take on things.

For first extension without embassy letter for income method they seem to have their own rules. 

 

[Nickelbeer]

5 hours ago, LatPhrao said:

Wow!

I was responding to a question by Dr. Jack, NOT the OP. 

, DrJack54 said:

Unusual. 

What service does an agent provide if using income method. 

[Mover1]

Thanks for all the replies on here, makes it more clearer on what i've got to do now. So my plans going forward are:

 

- Fly out for a day and come back in on 30 day entry 

- Use an agent to sort out my first retirement visa 

- From now on send a minimum of 65k baht a month into my Thai account every month

- Next year apply for new retirement visa using proof of 12 months payments of 65k rather than 800k in account

 

Is this all ok or am i missing something?

 

 

[scubascuba3]

2 minutes ago, Mover1 said:

Thanks for all the replies on here, makes it more clearer on what i've got to do now. So my plans going forward are:

 

- Fly out for a day and come back in on 30 day entry 

- Use an agent to sort out my first retirement visa 

- From now on send a minimum of 65k baht a month into my Thai account every month

- Next year apply for new retirement visa using proof of 12 months payments of 65k rather than 800k in account

 

Is this all ok or am i missing something?

 

 

the 65k has to be shown as International transfer otherwise application will fail, if you use Wise be careful

[ripstanley]

On 9/15/2022 at 2:49 PM, paddyfield7 said:

I'm using the income method since years, and the only thing I need is a confirmation from my Embassy for the attention of Thai Immigration confirming quote The Embassy of XXX hereby certifies on the basis of information received from the relevant social insurance and/or pension funds that Mr. XYZ, born XX.XX.XXXX receives a monthly pension of THB XXX,XXX.XX from the XXX Old-Age, Survivors and Disability insurance and/or a XXX private pension fund unquote. I believe this makes the question whether 6 or 12 or whatever transfers are required obsolete. I'm dealing with Chiang Mai Immigration.

You are lucky. The Australian, USA and UK refuse. That is why we have jump through more hurdles.

[Mover1]

3 hours ago, scubascuba3 said:

the 65k has to be shown as International transfer otherwise application will fail, if you use Wise be careful

It's funny you mention that as i meant to ask.

I got my statements from Kasikorn the other day, just in case i could use them. I've been using Wise for the last 6 years for all transfers to my thai account. 

 

The statements were printed out in Thai. At each international transfer from Wise it says 'ใอนเข้า/หักบัญชีอัตในมัติ' which translated says 'in the account/automatic debit' - no mention of it being an international transfer.

 

Sounds like this has happened to you or others, does it cause a problem?

[DrJack54]

3 minutes ago, Mover1 said:

Sounds like this has happened to you or others, does it cause a problem?

When you transfer using WISE there are options for reason of transfer.

You need select last option.

Hopefully it appears in your Thai bank account as FTT.

If not you can ask bank for details of transfer.

Messy but works. 

[scubascuba3]

8 hours ago, Mover1 said:

It's funny you mention that as i meant to ask.

I got my statements from Kasikorn the other day, just in case i could use them. I've been using Wise for the last 6 years for all transfers to my thai account. 

 

The statements were printed out in Thai. At each international transfer from Wise it says 'ใอนเข้า/หักบัญชีอัตในมัติ' which translated says 'in the account/automatic debit' - no mention of it being an international transfer.

 

Sounds like this has happened to you or others, does it cause a problem?

Yes it's a problem, in the last 6 months or so if you select reason for long term stay it will be processed with a code recognised by Kasikorn as International. There are ways round it, you'll need to show Kasikorn the credit advise from Wise so they show it as International. International desk at Kasikorn is best. Won't be easy

[Mover1]

Thanks for the info and advice @scubascuba3and @DrJack54. I tested it out yesterday, clicking on 'Funds For Long Term Stay In Thailand' as the reason for transfer in Wise.

 

Today its showing up in my Kasikorn statement as 'Trade Finance Deposit' with 'Ref Code GPS00002' in the Details Column. Still nothing about it being an international transfer.

 

Looking back over my last 2 years statements, the transfers from Wise have a few different codes on there, even though i always selected 'General Monthly Living Expenses' every time.

 

So i take it that means i have to go into the local branch, show them the Wise transfers somehow, and get them to put international transfer on the statements. Hopefully it will be relatively easy (555). 

[scubascuba3]

7 minutes ago, Mover1 said:

Thanks for the info and advice @scubascuba3and @DrJack54. I tested it out yesterday, clicking on 'Funds For Long Term Stay In Thailand' as the reason for transfer in Wise.

 

Today its showing up in my Kasikorn statement as 'Trade Finance Deposit' with 'Ref Code GPS00002' in the Details Column. Still nothing about it being an international transfer.

 

Looking back over my last 2 years statements, the transfers from Wise have a few different codes on there, even though i always selected 'General Monthly Living Expenses' every time.

 

So i take it that means i have to go into the local branch, show them the Wise transfers somehow, and get them to put international transfer on the statements. Hopefully it will be relatively easy (555). 

They will recognise that code as International, although there was a thread a week+ ago where the branch refused to do it, so there are rogue employees about. They won't update the bank statements but when they do the letter with the 12 transfers they will show them as International, that's if they deem them legit. I doubt it will be easy

[jerrymahoney]

18 hours ago, Mover1 said:

Is this all ok or am i missing something?

Yes -- You can avoid all the potential Wise transfer FTT issues by instead making  a SWIFT transfer each month.

Edited September 17, 2022 by jerrymahoney

[scubascuba3]

17 minutes ago, jerrymahoney said:

Yes -- You can avoid all the potential Wise transfer FTT issues by instead making  a SWIFT transfer each month.

If he had planned ahead with Wise he wouldn't have any issues

[jerrymahoney]

1 minute ago, scubascuba3 said:

If he had planned ahead with Wise he wouldn't have any issues

SWIFT no issues.