Combined Income Of Over 40,000 Baht/month,

[flying]

Hi

I have a question about this in regards to a long term stay.

I am married to a Thai Woman & while we are in the US we look forward to possibly living there full time at some point.

I am 51 now so do qualify for retirement & know about the 800k in a Thai bank for 90 days previous.

But we often see this other possiblity & wonder..........40k a month income

We do still own a shop (beauty salon) theer but have it closed right now.

When talking to my wife she is always confused when I bring up this option because

( Well one just because )

But actually because in her words none pay income tax in her experience.

So I was telling her we could & thus qualify this way. Although we could do the 800k this might be a better way & leave the 800k invested here in USA.

So our next question is how much is the income tax on 40k a month?

Anyway can someone clear this up? Is it true most self employed folks never claim anything there , how much would it be on 40k & how long of a history of paying it would we need?

Thanks as always for any help given!

[sweetchariot]

I looked into this myself, and concluded it was easier and cheaper for me (under 50, and not married - yet) to go home and get a non-o every 15 months. I am sure I will be corrected if this is wrong, but from what I gather they only want a letter from the tax office to say that you have paid enough tax to be earning 40k per month.

I think this works out at around 30k per annum tax, and apparently you can just go and pay the tax without any further questions asked. Sounds to me like the retirement route would be easier, cheaper, and simpler for you.

[lopburi3]

The tax people are happy to accept tax payments and will not question it. That most self employed do not pay tax is probably true (for the lower income levels) but it they have employees or a real business they will likely be paying.

From reports of others the tax payment will range from about two to three thousand baht per month. Believe back tax (six months or a year) can be paid at any time to satisfy Immigration requirements.

But if you are living here I would consider keeping a fairly large back account immediately available in the event of medical emergency or some such thing. You would only have to keep the account level at 800k for the three month level and then could use it for expenses.

[flying]

Thank You for the replies.

Yes seems most do not pay. My wife said even when she had a employee they never did but then again TIT

Lop thanks so much I gain much from your many posts here!

What you say is true & yes I would want to have money for med emergency etc.

When you say you keep the level at 800k for the three months & then are able to use it.

I suppose that also means later when it is time for renewal...next year?.... then it needs to be topped up again to the 800k mark?

Thanks again!

[lopburi3]

Yes - top up again 3 months prior to renewal.

[monty]

then it needs to be topped up again to the 800k mark?

Correct, although I was of the impression the 3 month requirement is only at the original first application.

Subsequent applications only need the 800,000 to be present at time of application.

In general, retirement extensions are much easier to get, as the decision to grant lies with the local offices (easy, 50 years or over and 800,000 in the bank).

Extension based on marriage is much more complicated, only head office in Bangkok approves those. It requires the above mentioned proof of income, a bunch of pictures of you and your wife showing you live as husband and wife, statements of neighbors and/or persons of standing (village head etc) that you are actually man and wife, and a visit of the family residence by an immigration officer!

[flying]

Extension based on marriage is much more complicated, only head office in Bangkok approves those. It requires the above mentioned proof of income, a bunch of pictures of you and your wife showing you live as husband and wife, statements of neighbors and/or persons of standing (village head etc) that you are actually man and wife, and a visit of the family residence by an immigration officer!

Oh very interesting!

I did not know that . Although I could easily prove our marriage & existence I know going through any formal gov offices in BKK would be no fun.

I had just always wondered about the ease of using the income route since we had the beauty shop anyway. In fact it is kind of a waste that we pay the 5500 THB a month lease on the place when we have it closed for most of the year.

But we keep thinking we may go back soon & would be nice to have the income from it.

Thanks again all!

[Lite Beer]

Extension based on marriage is much more complicated, only head office in Bangkok approves those. It requires the above mentioned proof of income, a bunch of pictures of you and your wife showing you live as husband and wife, statements of neighbors and/or persons of standing (village head etc) that you are actually man and wife, and a visit of the family residence by an immigration officer!

Oh very interesting!

I did not know that . Although I could easily prove our marriage & existence I know going through any formal gov offices in BKK would be no fun.

I had just always wondered about the ease of using the income route since we had the beauty shop anyway. In fact it is kind of a waste that we pay the 5500 THB a month lease on the place when we have it closed for most of the year.

But we keep thinking we may go back soon & would be nice to have the income from it.

Thanks again all!

You apply at your local Immigration Office and they send it to Bangkok. You do not go. You get the decision one month later.

It is not as bad as it appears.