Considering retirement visa using income only

[DrJack54]

1 hour ago, OldAjahn said:

. If someone with an existing non-o extension wants to convert from the 800,000 method to income method, when exactly can the 800,000 be removed? Presnock states, IIUC, that the 800,000 must be maintained for one year, simultaneously with 65,000 monthly deposits, until the next yearly extension.

That is exactly what I'm currently doing. (CW)

Most recent extension (Nov) using money in bank.

Started transfers at that time.

Will run both methods until next extension.

Any issue with income method I simply continue with money in bank method. 

Regarding your question re proof of source of income..,

That's down to immigration office.

Reports of bank statement showing 12 months of income each month as funds transferred from O/S is sufficient along with reports of immigration wanting to see proof such as pension etc.

Of course this refers to the 3 countries without "embassy letter" 

[Lacessit]

On 1/1/2024 at 9:37 AM, KhunLA said:

I'd guess 6 out of 9 attempts to use my debit card, failed, so I cancelled the card.  Also BkkBank and about 3 yrs old.   I just wait till I see no customers when driving by, and pop in.   Only 1 branch in town now, since they closed the one at Lotus's mall, which was convenient, since there on most Tuesdays for my Swensen's fix.

 

Strangely, I can transfer it out to wife's account via app.   So she'll still have access after I crap out, and plants me in the garden 

You could always have a Viking funeral instead, with your EV as the longboat.

 

I tried the monthly income route one year, it was such a PITA with the AUD exchange rate fluctuations I went back to the 800K method.

[DrJack54]

29 minutes ago, Lacessit said:

I tried the monthly income route one year, it was such a PITA with the AUD exchange rate fluctuations I went back to the 800K method.

Have never understood why someone using income method would transfer anything even close to 65k. 

Surely closer to 100k+ would be the norm. 

[OldAjahn]

58 minutes ago, DrJack54 said:

That is exactly what I'm currently doing. (CW)

Most recent extension (Nov) using money in bank.

Started transfers at that time.

Will run both methods until next extension.

Any issue with income method I simply continue with money in bank method. 

Regarding your question re proof of source of income..,

That's down to immigration office.

Reports of bank statement showing 12 months of income each month as funds transferred from O/S is sufficient along with reports of immigration wanting to see proof such as pension etc.

Of course this refers to the 3 countries without "embassy letter" 

Thanks for the suggestion. That's definitely the safe course. But what's your estimation of the minimum requirements? I'd go with a logical deduction of the requirements if I was confident in it, and take my chances next year at CW. Failing which I wouldn't mind a trip to Singapore, it's been a while, to get a 90 day entry and follow EVENKEEL's course.

[DrJack54]

6 minutes ago, OldAjahn said:

But what's your estimation of the minimum requirements?

The minimum might be as simple as maintain the 800k for 3 months after extension granted along with starting monthly transfers from date of extension granted. 

Then can withdraw the 800k

However too risky in my thinking hence my plan covers all bases

[Lacessit]

8 hours ago, DrJack54 said:

Have never understood why someone using income method would transfer anything even close to 65k. 

Surely closer to 100k+ would be the norm. 

It was an experiment, to see if I could free up enough for a new car.

I concluded it was not practical.  The Australian pension plus other income was sailing too close to the wind.

I'm still driving an old car which will probably outlast me.

[cedel]

On 1/3/2024 at 3:45 AM, cedel said:

I am from Belgium, 59 years old, so I still don't have "pension" now, but I am disabled from work and get the monthly equivalent of 54,000 to 56,000 THB depending on the rate, of course I have savings to complete this amount every month if I can and if allowed to just send 65,000 (minimum) Baht from my own bank account or my wise to my thai bank account. 

For the moment, I have the 800,000 required but not for long enough,so I will do a visa run to meet the 60 days +15 days processing time for Non-O. 

I would not like to leave the 800000 permanently and almost without interest on a savings or even fixed deposit account. So that's why I'm interested in the method of sending every month at least 65000 (if the rate is very good could I send for example 100,000 some months ? And then less than 65000 the next month or has it to be at least 65000 per month ? ) 

Is it enough to just transfer every month at least 65000 B, even if my allowance is less than that ? Do they not require in Jomtien an indemnity certification that would, in my case be around 680,000 B per year so under the 800,000 ? 

Also if asked by immigration, can I just download this statement or should that be certified by the Belgian Embassy in Bkk ? 

And last question, if we could have a mix of let's say 100,000 or maximum 200,000B Baht in money stuck on my thai book bank, then could I send the difference every month ?

In the case I would leave 200,000 B I guess I should have then to send every month (800,000-200,000)=600,000/12=50,000 B per month ? 

Once again, I don't have pension yet, only monthly indemnity from the social security, and is sending from my bank account enough or do I need any other certification ? 

 

Months after this post, when I was not aware of a project to tax remitance earned abroad(introduced in 2024 I think by Sretta) , but just after the ousting in August of SRETTA the PM and the change with the daughter of Thaksin appointed as a new PM, I wonder if the hassle with the double taxation will persist... 

Edited August 18 by cedel