Extension Of Stay

[SurfRider]

.

That's probably enough friendly combat over this off-topic tangent. I was simply responding to someone who was asking about yield and I offered one example of an investment that COULD POSSIBLY provide exceptional yield as well as a path to bring foreign funds into Thailand at the least expense currently available.

Yes, there are differences between "aristocrats" and "champions" as well as there are risks inherent in any investment strategy and you've defended that aspect well. It was interesting to learn the difference between the DA & DC lists and I noted that your source favors the "champions"

I suspect that anyone interested in this type of information knows what they're doing and does not need any pampering on these issues, but that's just a guess, I could be wrong . . .

.

Edited August 1, 2010 by SurfRider

[Suradit]

You can put whatever income figure you want on your "embassy letter" with no proof required. If you have to "pad" you monthly income a bit to equal whatever the baht-$ rate at the time requires, so be it.

The American embassy doesn't verify income, it only notarizes the applicant's signature on a letter where he/she states income.

Immigrations could still ask for further proof. In the past I always attached back-up letters from my pension provider and Social Security, and at Immigrations they calculated the total to see if it was the same as what I put on the embassy letter. Last year they didn't seem interested in the back-up letters, but like most things it's largely up to the discretion of the officer you're dealing with.

On the US letter you are stating the amount you received "every month from the United States Government and/or other sources." So, in theory, you couldn't just pick an arbitray amount to top up what you have in the bank. Claiming you receive B10,000 per year to top up B790,000 in the bank, as in the example used earlier in this thread, would mean B833 per month or about $25 per month from Social Security and/or other sources. I think that would raise red flags when reviewed and you could be asked to document it, especially if the amounts you claimed each year kept changing.

Again, Immigrations officers have discretion in deciding what to accept and what to question. If it's found that you are fudging numbers it's likely you'll end up screwing yourself and make it all the more difficult for everyone else. That's why the 3 month seasoning requirement arose in the first place. Some people were found to be shifting bank deposits around from one person to another at renewal time. And now everyone has to comply with a rule to prevent that.

Edited August 1, 2010 by Suradit

[Jingthing]

In my view, it is ill advised to present ANYTHING to immigration that isn't explicitly required, or later requested. If using an embassy letter to show income, that is ALL that is required in reference to that income -- the embassy letter. I suggest people DO NOT present further documentation of their income to support the embassy letter unless it is explicitly requested. I think it is reasonable to presume that USUALLY it won't be. Cheers.

[MaiThaiMai]

For what it's worth and if I'm not too late I have been extending my OA retirement visa using the combination method for three years now. I err on the side of caution and try to follow the rules. So far everything has been very smooth. This is what I do:

I get all the forms from the immigration website

Link to "the immigration website" please ... thank you.

I'm sorry I have nothing to blather-away with aside from the OP's orig topic ... oh, sh*t, did I just blather? ...

MaiThaMai

:jap::jap:

[MaiThaiMai]

retirement extensions --

800K in Thai bank (SEASONED) OR

65K monthly income OR

combo income PLUS banked Thai money totaling 800K

Next ...

Hmmm, Bt 65,000 x 12 is only Bt 780,000 so proof of monthly income 65K saves a substaintial amount of home currency if one is close per other option(s)...just an observation never seen mentioned before though it probably has.

MaiThaiMai

:jap::jap:

[Fore Man]

Today, at the Chinag Mai Immigration office I accomplished my annual extension of stay based on retirement reasons, and for the first time submitted proof of income as my sole means of financial ability. I had the requisite U.S. Consulate letter, and was not asked at all to provide any back-up income documentation. I brought these documents along with me but since I wasn't asked, I made no mention of them. Other than the 3 hour & 20-minute duration of my visit, it was a snap. 2 hours of that time was simply waiting my turn in line.

CM Immigration now has a new system that employs tickets dispensed when you enter (using different numbering systems based on the nature of your need) and then calls forward each person by voice as well as displaying the numbering on several digital displays hanging overhead. It works well, but only two desks are dedicated to annual extensions. 90-day TM 6 reports are handled very quickly however. We arrived exactly at 8:30 AM, when the office officially opened; the waiting room was already completely packed. There were 13 people ahead of me waiting to process their annual extensions of stay; it thus took me 2 hours of waiting until my number was called. Once sitting down at the officer's desk, the processing was quickly done. My wife and I needed to wait about 25 minutes to get my completed passport in a nearby special waiting room. The TM 8 processing time (Re-entry Permit) was very quick and routine; accomplaished at the main information desk.

For your TM 7 processing, don't forget to make copies of your original visa plus all annual extensions and re-rentry permits, if applicable. You also need to copy your latest TM form and the passport page containing your matching arrival stamp.

Fairly tame and well-handled, but a long wait. Bring something along to keep your mind busy.

[Jingthing]

retirement extensions --

800K in Thai bank (SEASONED) OR

65K monthly income OR

combo income PLUS banked Thai money totaling 800K

Next ...

Hmmm, Bt 65,000 x 12 is only Bt 780,000 so proof of monthly income 65K saves a substaintial amount of home currency if one is close per other option(s)...just an observation never seen mentioned before though it probably has.

MaiThaiMai

:jap::jap:

Yeah, I think that is weird too, but thems (sic) the rules ... 20K baht substantial? Okie dokie.

[Hurricane51]

Yes...that's correct... MC and VISA debit cards used with most rewards checking accounts are different from typical MC and VISA credit cards in that respect...

All the major U.S. banks, for the most part, do charge hefty foreign transaction fees up to 3% or more... However, the RCA accounts typically are not done by the major U.S. banks... And all the RCA accounts I'm familiar with don't charge those kinds of fees. Of the ones I'm familiar with, most charge the usual 1% VISA/MC foreign transaction fee and nothing else for purchases and ATM withdrawals abroad. Some of them don't charge that at all. And on the flip side, most of the RCA accounts refund all ATM fees incurred nationwide in the U.S., and some even internationally, if you qualify for the account in that same month.

In short, the RCA debit cards are perfectly usable here, and usually a much better deal than either normal U.S. credit cards or big bank debit cards.

Are you saying that you use a debit card from a U.S. checking account to purchase items in Thailand and you don't pay a penalty that would wipe out any savings in interest?

Thanks very much. I will look into this.

[jfchandler]

My pleasure. Glad to be of assistance...

One additional tip on this re Rewards Checking Accounts...

Because they tend to be offered by local and regional banks and credit unions (and not the big national bank companies), the offers and availability of these are often limited by the county and/or state of your U.S. residence. That's the way banks and CU's try to limit their accounts to their local service area/customers.

On the web site I listed above for info about RCAs, there is a main list of RCA accounts that are available nationwide, including a few still that are at 4% APY. But if you use that same web site to search by national + your state, you'll likely find a larger range of banks/accounts to choose from. And some of the local/state-based accounts have better interest rates than the best 4% national ones.

For example, for some reason, the banks in Texas tend to be paying higher rates, including quite a few above 4%... But if your address is in California, you'll be lucky to find a 3.5% RCA account. So the lesson is, be sure to check available accounts in your state of official residence.