Retirement Visa

[Jingthing]

Here's why it matters:

Firstly if the 800,000 is required in a Thai Bank Account why should the 65,000 monthly amount not also be required? otherwise it penalises those that put in the 800,000

Secondly I have the 800,000 method but want to change to the 65,000 method but DO NOT want to bring into Thailand the 65,000 a month as I'd prefer to leave it in my UK account

Thirdly what does it prove that I have 65,000 a month in Sterling? surely the whole point is that I have it in Thailand?

Fourthly the British Consulate mentioned this to me - hence I am trying to clarify

Firstly if the 800,000 is required in a Thai Bank Account why should the 65,000 monthly amount not also be required? otherwise it penalises those that put in the 800,000

Because those are the RULES.

Secondly I have the 800,000 method but want to change to the 65,000 method but DO NOT want to bring into Thailand the 65,000 a month as I'd prefer to leave it in my UK account

Great. You can. You DO NOT need to transfer in the 65K per month, or even one baht. Congratulations. Why?

Because those are the RULES.

Thirdly what does it prove that I have 65,000 a month in Sterling? surely the whole point is that I have it in Thailand?

The embassy letter proves you have that much in equivalent BAHT income per month (no need to transfer one baht) and that is the requirement. They aren't interested in sterling.

Because those are the RULES.

It sounds like you are not believing me. Fine. Wait for confirmation from other retirement extension experts.

Note. As far as the bank account method being more unfair. Well, that depends on how you look at it, but I don't see the function of the immigration police as being an altar of fairness. In fact, when you think of it, for people spending on their 800K accounts that need to be seasoned for three months before extensions, they actually need quite a bit MORE than 800K to account for the spending during those three months. On the other hand, keep in mind that most countries that do offer retirement visa options, most do not even offer any bank account only method! So, it's take it or leave it, because those are the RULES.

Edited December 13, 2010 by Jingthing

[Lite Beer]

Trying to find reasons for various Immigration requirements will give you a headache.

It is best to just accept the rules as they are and go along with them.

JT has it right.

[ChiangMaiFun]

Ok fair enough... thanks for input

[Jingthing]

It makes sense to be skeptical about information that is very important to your well being.

[ChiangMaiFun]

It makes sense to be skeptical about information that is very important to your well being.

Yes... thanks... I'll be changing to the income route and release my 800,000 - it makes sense (unless the baht falls to less than 44 then it might not be an option!) - thanks again

[steve187]

Don't forget you can use a combination of cash in a Thai bank and an embassy letter for an amount smaller than 65,000 baht

consulates have been known to be wrong

[ChiangMaiFun]

Don't forget you can use a combination of cash in a Thai bank and an embassy letter for an amount smaller than 65,000 baht

consulates have been known to be wrong

Yes thanks... but I guess then I would have to do 'double' the work - get the letter from the bank and have proof AND go the Consulate route too... it's a relief, anyway as Jingthing has clarified, that I don't actually have to bring in the cash.

So as a safeguard I'll keep 500,000 in cash just in case the Baht dips to below 44 - if that happens 1000s of Brits may have a problem, and I won't have enough from UK to make up the full 65,000.

So, in essence, I will hedge my way forward but still change my strategy of keeping 800,000 as that is a waste if I have 65,000 coming into a UK bank account which can legally be used as 'proof' of income.

[TaoNow]

Just a comment on JT's observation: " If the account is static, immigration will likely ask how you get your spending money though to ferret out illegal workers."

Perhaps that is true at Immo/Pattaya.

But for my renewals with a static, fixed deposit 800K baht account, during 2008, 2009, and 2010, Immo/Bangkok never asked to see another bank account or asked how I make ends meet.

No questions were ever asked about how I supported myself during the year.

If they asked, I might say that I live with my ex-wife and she provides for meals and other basic necessities.

TN