'Retirement visa' 800k usage rules..

[MrMuddle]

Just now, KannikaP said:

When I was at school, two months meant say from 23rd June to 22nd August, that is two CALENDAR months. If talking about Jan/March, then 31 + 28 = 59 days, March to May = 31+30 = 61 days.

You can apply up to 2 weeks in advance so the number of days is actually irrelevant.

You can apply 28 days before your current stamp expires.

[Jingthing]

25 minutes ago, NE1 said:

My 90 day reports are done on line so no worries there , but he was adamant about the bank book and letter.

 

Which office?

My comment was really about Jomtien.

I should have clarified.

[DrJack54]

24 minutes ago, KannikaP said:

As far as I can see, Dr Jack has only said 'no, not correct' and 'nup'. It would be far more helpful if he said which part was not correct ie 7 months instead of 6.

I did clarify why the "6 months after the initial 3 months was not correct" and again post referring to 7 months " 

The number of months or days balance above 400k varies.

What's important is to count 3months post application and 2 months prior for following application. ......requires 800k+

Not below 400k at other times. 

 

Outlined here.....

 

"The number of months between each extension can vary as application can be made on day of expiration of permission of stay or up to 45/3O days prior.

 

Forget the 6 month idea."

Edited November 11, 2022 by DrJack54

[Jingthing]

18 minutes ago, KannikaP said:

But when it comes to renewing your extension at 12 months, if the IO sees that you went below 400k at any time, there goes your renewal.

That applies to all the balance rules throughout the year.

If you haven't complied then best not to even show up for your next extension. 

Then your options may be using an agent or leaving Thailand and starting over.

[DrJack54]

5 minutes ago, Jingthing said:

If you haven't complied then best not to even show up for your next extension.

Agree. 

For some reason the immigration officers seem VERY fussy and strict about this.

There have been threads where someone has slipped up by eg 300baht and corrected very quickly yet still rejected.

Bit weird when you think about it. 

Personally I leave the funds above 800k all year round.

Avoids slip ups and side benefit is makes io job easier. 

Edited November 11, 2022 by DrJack54

[Don Chance]

Any interest on these accounts?    Is the deposit insured, does the coverage apply to farang's?

[Jingthing]

3 minutes ago, Don Chance said:

Any interest on these accounts?    Is the deposit insured, does the coverage apply to farang's?

On regular liquid savings accounts there is trivial interest.

There is protection up to only one million baht including all 

Best to use multiple banks if much more than one million. 

Edited November 11, 2022 by Jingthing

[Paradise Pete]

4 hours ago, Adumbration said:

Will someone please just draw an info graphic for this with a one year timeline.  The info is perfectly suited for graphical representation.  

——V———_______——X———_______——X———_______——X———_______——X

 

Legend: — 800k min, _400k min, V Visa, X Extension

 

Edited November 11, 2022 by Paradise Pete

[Adumbration]

5 hours ago, Jingthing said:

That applies to all the balance rules throughout the year.

If you haven't complied then best not to even show up for your next extension. 

Then your options may be using an agent or leaving Thailand and starting over.

Bar stool piffle.

 

I have about 45K AUD in an FCD account.  I have used it for nearly a decade to do my non-o extensions.  During the covid market crash the AUD fell to circa 16 baht.  IO never even mentioned it when I did my extension.

[Jingthing]

41 minutes ago, Adumbration said:

Bar stool piffle.

 

I have about 45K AUD in an FCD account.  I have used it for nearly a decade to do my non-o extensions.  During the covid market crash the AUD fell to circa 16 baht.  IO never even mentioned it when I did my extension.

 

An interesting story.

Is it possible (I don't know as I and the vast majority of expats use Thai baht accounts for visa qualification) that immigration uses only the FX on the day of application and applies it to the entire year?

It was still over 800K at the application, correct?

Did he tell you he saw that you did not comply at some points in the year because of FX changes but he will let that go?

Of course if it was policy to use the application date rate and you were over 800K at that time, then the rule would have been applied correctly. 

If anyone can speak definitively to their policy on FX, please post.

Back to more usual BAHT accounts, I recall that there have been reported cases when an expat fixes an error on the same day where that is allowed.

I don't go to bars.

Edited November 11, 2022 by Jingthing

[Onerak]

10 hours ago, curtklay said:

The only correct info on this thread is from Dr. Jack.  Everyone else, please refrain from posting when you don't know what you're talking about.

Dr Jack will only quote what the published immigration rule is. And Yes, he is correct about that. As it seem, Thail IOs don't always follow their own published rules and don't care what Dr Jack quoted you. Only correct information one will get if they mention the immigration office. Then others can post their experience in the same office. But everybody's experience may not be similar and it also depends on the particular officer handling your application. 

To circumvent all these hassles, I always use an agent and they will do everything for your for  a price that will be distributed among unfortunate people not who don't have access to Western money. Agents have never disappointed me. 

[Max Brok]

And the source of this money?

 

[KannikaP]

13 hours ago, MrMuddle said:

You can apply 28 days before your current stamp expires.

But if you are using the monthly transfer method and apply 28 days early, you may then have only 11 transfers. How would that pan out?

[Adumbration]

6 hours ago, Onerak said:

Dr Jack will only quote what the published immigration rule is. And Yes, he is correct about that. As it seem, Thail IOs don't always follow their own published rules and don't care what Dr Jack quoted you. Only correct information one will get if they mention the immigration office. Then others can post their experience in the same office. But everybody's experience may not be similar and it also depends on the particular officer handling your application. 

To circumvent all these hassles, I always use an agent and they will do everything for your for  a price that will be distributed among unfortunate people not who don't have access to Western money. Agents have never disappointed me. 

I too, have never been disappointed by an agent....

 

I have never used one.

[ubonjoe]

This topic has gone off the rails.

This from the latest version of the immigration order for clause 2.22 for extensions based upon retirement.

I have seen several posts about people being denied a extension of stay for not meet the above requirements after they applied for their previous extension. That is the reason for immigration wanting proof that the requirements were complied with by showing a updated bank book and/or a one year bank statement.

[murraynz]

18 hours ago, curtklay said:

The only correct info on this thread is from Dr. Jack.  Everyone else, please refrain from posting when you don't know what you're talking about.

 

I second what you say. 

Dr Jack has given the correct answer, several times.. It's very simple and clear.. Others are trying to twist it.. 

[ubonjoe]

Several posts that were a baiting and bickering session have been removed. Time to end it now or a formal warning will be given.

[MrMuddle]

7 hours ago, KannikaP said:

But if you are using the monthly transfer method and apply 28 days early, you may then have only 11 transfers. How would that pan out?

No idea, I use the 800K method.

[KannikaP]

1 hour ago, MrMuddle said:

No idea, I use the 800K method.

Useful answer.

[DrJack54]

8 hours ago, KannikaP said:

But if you are using the monthly transfer method and apply 28 days early, you may then have only 11 transfers. How would that pan out?

Seriously never considered that.

 

I assume that the required transferred amount would be counted from month of previous extension and every month including the month you apply for next extension. 

[MrMuddle]

On 11/12/2022 at 4:28 PM, KannikaP said:

Useful answer.

Is there a reason you're following my posts, and making negative comments?

[Lorry]

On 11/11/2022 at 6:14 PM, DrJack54 said:

 

In fact I believe there is an immigration office that requires the 800k  THREE months prior (can't recall which office) 

In another thread right now somebody says Samut Prakan.