Second extension after applying for Non O

[300sd]

I was using “proof of income” method for the the Non O and the first extension. Now I am going to use the 800,000 in bank method for the next extension.

Do I need to show that these funds are from an International transfer?

Thank you in advance.

[BrandonJT]

7 minutes ago, 300sd said:

I was using “proof of income” method for the the Non O and the first extension. Now I am going to use the 800,000 in bank method for the next extension.

Do I need to show that these funds are from an International transfer?

Thank you in advance.

For an extension, there is no requirement to show that.  That requirement only comes into play when applying to convert from tourist to 90 day non-O visa.

[300sd]

19 minutes ago, BrandonJT said:

For an extension, there is no requirement to show that.  That requirement only comes into play when applying to convert from tourist to 90 day non-O visa.

Thanks for that. 

[DrJack54]

3 hours ago, 300sd said:

Do I need to show that these funds are from an International transfer?

No. 

Be aware, to season the 800k for two months prior to application. 

[300sd]

44 minutes ago, DrJack54 said:

No. 

Be aware, to season the 800k for two months prior to application. 

Great, thanks for that.

[Equatorial]

5 hours ago, 300sd said:

I was using “proof of income” method for the the Non O and the first extension. Now I am going to use the 800,000 in bank method for the next extension.

 

I am trying to decide which way to go. I think I understand pros and cons of both, and I am strongly leaning towards the income method. I am curious, what are your reasons for switching from the income method to money in the bank method (if you want to share, of course)?

[DrJack54]

29 minutes ago, Equatorial said:

I am curious, what are your reasons for switching from the income method to money in the bank method

At a guess could be that his embassy is no longer providing income letter. 

Couple of countries have recently stopped. eg Canada. 

 

I'm doing the opposite and changing from money  in bank to income. 

No brainer IMO. 

[300sd]

1 hour ago, Equatorial said:

 

I am trying to decide which way to go. I think I understand pros and cons of both, and I am strongly leaning towards the income method. I am curious, what are your reasons for switching from the income method to money in the bank method (if you want to share, of course)?

My embassy stopped giving out income letters.

[Liquorice]

1 hour ago, Equatorial said:

 

I am trying to decide which way to go. I think I understand pros and cons of both, and I am strongly leaning towards the income method. I am curious, what are your reasons for switching from the income method to money in the bank method (if you want to share, of course)?

Each to their own and dependent on personal circumstances and situations.

 

One of the Cons of using the 800K method is you could probably get much better interest rates in your home Country than you're likely to get in Thailand.

A couple of Pros are in the case of an emergency you have funds easily available and no proof of overseas transfers required.

 

 

[DrJack54]

38 minutes ago, Liquorice said:

A couple of Pros are in the case of an emergency you have funds easily available and no proof of overseas transfers required

Sorta... However if you are in the 7 months where the funds cannot be below 800k then it's of little use. 

Suggest most folk would have access to "emergency funds" from their home country. 

I just regard funds locked in a Thai Bank as "opportunity Cost" and not attractive option. 

[Liquorice]

3 hours ago, DrJack54 said:

Sorta... However if you are in the 7 months where the funds cannot be below 800k then it's of little use. 

Surely, you mean the 5 months when the funds cannot be below 800K.
It's then 7 months for the 400K.

 

As I stated previously, it's an individual choice based on circumstances and situations.

I've known a couple of expats 'incapacitated' through emergency medical grounds and missed a monthly transfer.
The <deleted> then hits the fan, and you have to start the procedure all over again, Non O > extensions.

Those costs out way any loss of interest in keeping funds in a Thai bank, against your home Country.

 

Proof of monthly overseas transfers and requiring additional evidence can be another PITA.

 

I extend based on Thai spouse and use the 400K funds method, but keep closer to 750K in that FTD account.

I also have a regular Savings account. The wife is a co signature to both accounts.

In the event of anything happening to my spouse, easy to deposit another 50K and switch to retirement.

In the event of my demise, my Thai assets go to my Thai wife.

 

Jeez, I've even known a couple using the income method, that suddenly passed away and not that anyone else had access, but there wasn't enough in their Thai bank account to pay for their cremation. There is a lot to consider when deciding to use the funds or income method.

 

[Equatorial]

8 hours ago, Liquorice said:

Jeez, I've even known a couple using the income method, that suddenly passed away and not that anyone else had access, but there wasn't enough in their Thai bank account to pay for their cremation. There is a lot to consider when deciding to use the funds or income method.

 

Agreed that that'd be a problem, however one has to make sure that the wife has access to the funds in case of the husbands untimely demise. Knowing how rules in Thailand change on a daily basis, including based on the bank clerk's mood, I am much more comfortable keeping the reserve funds in my wife's bank account, and keeping close to zero balance in my own account.