Retirement Visa. What Counts As Income?

[PiersRudford]

Hi all,

If using the combination of income plus money in a Thai bank for the retirement visa, what counts as 'income'?

I have had money transferred into my Thai bank account every 90 days for almost 3 years from a family member in the UK as part of our agreement on certain family property matters. Will my bank passbook with the transfer showing approx every 90 days for almost three years count as 'income'?.

Can I use this as the 'income' part of the combination and make up the rest by increasing the bank balance to the expected level?

My local immigration office at the moment is Jomtien.

Regards, Piers

Edited February 7, 2011 by PiersRudford

[jazzbo]

Assuming that you are citizen of UK, what constitutes 'income' is determined by the UK Embassy in Bangkok who would issue any such income letter.

[BuckarooBanzai]

If you could get your relative to notarize a promissory note in the UK you would likely have it made. Good luck.

From Wiki:

A promissory note, referred to as a note payable in accounting, or commonly as just a "note", is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. They differ from IOUs in that they contain a specific promise to pay, rather than simply acknowledging that a debt exists. In common speech, other terms, such as "loan," "loan agreement," and "loan contract" may be used interchangeably with "promissory note" but these terms do not have the same legal meaning. Whereas a promissory note is evidence of a loan, it is not the loan contract, which would contain all the terms and conditions of the loan agreement.

Edited February 7, 2011 by BuckarooBanzai

[Lite Beer]

As said it would be whatever the British Embassy says.

[Mario2008]

The rule is yearly income plus money in the bank in Thailand must equal at least 800,000 baht. In your case the income is from abroad and than it is your embassy which decides what they will accept as proof.

Contact your embassy and see what they will consider as income and require as proof.

[JimGant]

From reports a few years back on this forum, the British Embassy does accept gross rental receipts as income. However, not sure what proof they required....

[Robby nz]

Fair enough, but as I am told on another thread you can only apply for an O A visa for the purpose of retirement in your own country then where would the proof of income come from?

No use, I wouldnt think, asking a BKK embassy for a letter when you have to apply in your home country?

I would also think different Thai embassies in different countries would have their own interpritation of the rules, I know they do for tourist visas.

In my own case I came to TL origionaly on an O A retirement then for various reasons, mostly madical, went to tourist visas.

Now, next year, I would like to go back to an O A but have to plan this carefully.

If there was any way I could do this without having to fly back to home country it would be great.

[InterestedObserver]

The non-immigrant "O-A" (long stay) retirement visa is issue by the Royal Thai Embassy in your home country. They alone determine what is acceptable for the financial requirements.

Edited February 8, 2011 by InterestedObserver

[Mario2008]

You can get a non-O visa based on retirement as well, which would be good for an entry of 90 days.

No sure if you can get a multiple in Asia, but Australia would give a multiple non-O.

For an O-A you will indeed have to go back to your home country and it is the Thai embassy which decides what they will accept as proof of income.

Why not try the embassy in Bangkok first. If you meet the criteria for an extension of stay it will be easier than getting a new O-A.

[Lite Beer]

Now, next year, I would like to go back to an O A but have to plan this carefully.

If there was any way I could do this without having to fly back to home country it would be great.

Apply at Immigration in Thailand for a 12 month extension based on retirement.

(1) The alien has obtained a temporary visa (NON-IM);

(2) The applicant is 50 years of age or over;

(3) Proof of income of not less than Baht 65,000 per month; or

(4) Account deposit with a bank in Thailand of not less than

800,000 Baht as shown in the bank account for the past 3 months at the filing date of the application. For the first year, the applicant should have that amount in his bank account for not less than 60 days or

(5) Annual income plus bank account deposit totaling not less

than Baht 800,000 as of the filing date of application

[GuyDow]

I too have had regular payments from a family member.

The British Embassy accepted my bank statements over a period of three months showing these payments as sufficient proof to be included in the "income letter". This was in December 2010. I had other supporting documents but these were not asked for.

[skydiver77]

If you decide to go via the monthly income route. Be aware of the following, when you visit the Brit Embassy for your income letter.

1. You must be pre- registerd at the Embassy.....can be done online.

2. The letter will cost you Bt2315.

3. Payment by cash is no longer accepted.

4. Pay by Bankers Draft...or Postal Order payable to; Brit Embassy, Nana Post Office, Bkk 10110.

5. If showing income to UK bank, a 3 month statement is required.

6. They may ask you for a copy of your passport.

7. And as usual, you will be required to return the following day for the letter.

[Robby nz]

Now, next year, I would like to go back to an O A but have to plan this carefully.

If there was any way I could do this without having to fly back to home country it would be great.

Apply at Immigration in Thailand for a 12 month extension based on retirement.

(1) The alien has obtained a temporary visa (NON-IM);

(2) The applicant is 50 years of age or over;

(3) Proof of income of not less than Baht 65,000 per month; or

(4) Account deposit with a bank in Thailand of not less than

800,000 Baht as shown in the bank account for the past 3 months at the filing date of the application. For the first year, the applicant should have that amount in his bank account for not less than 60 days or

(5) Annual income plus bank account deposit totaling not less

than Baht 800,000 as of the filing date of application

Still not clear in my head on this.

Fist:

Apply at Immigration in Thailand for a 12 month extension based on retirement.

An extention to what? remember I am and will be on a tourist visa.

The alien has obtained a temporary visa (NON-IM);

A temporary visa, would that include a 90 day O based on retirement?

Other requirements I will be able to meet

When I first got an O A I only had to have the cash in a home bank for the first year.

It would seem that would not apply doing things this way.

[lopburi3]

To obtain the OA visa you had to also have medical and police report in addition to proof of funds. The extension of stay is making the 90 day entry one year longer and this can be repeated in country. If you need to convert from a tourist visa entry that will cost an extra 2,000 baht at immigration and proof you have the funds for retirement. That new entry can then be extended for one year for the normal 1,900 baht fee. Or you can just visit a Consulate to obtain a single entry non immigrant O visa to start the process.

[Lite Beer]

Robby nz.

As said above you can convert your Tourist Visa Stay to a Non Imm Visa at Immigration then apply for the 12 months.

OR.

Get a Non Imm O Visa from a neighbouring Country then apply for the 12 months extension.

The choice is yours. Go and speak to Immigration.

[Jingthing]

Just a note -- it sounds like the OP may be confusing money transferred into Thailand with usable income for the extensions. For example, a person claiming rental income from abroad who was getting 2,000 pounds in rents per month (before expenses, etc.) but only was having 500 pounds per month wired into Thailand could claim 24,000 pounds annual income at the UK embassy for the letter to be used at immigration.

A side issue, I am not 100 percent sure that can claim GROSS vs. NET incomes, but that has been my understanding for a long time, so feel free to confirm or contest. Maybe it depends on the type of income and the specific policy of the embassy?

Edited February 8, 2011 by Jingthing

[Robby nz]

Robby nz.

As said above you can convert your Tourist Visa Stay to a Non Imm Visa at Immigration then apply for the 12 months.

OR.

Get a Non Imm O Visa from a neighbouring Country then apply for the 12 months extension.

The choice is yours. Go and speak to Immigration.

Thanks for that and also Lopburi.

It will be a year or so before I want to do this so I will have to go into it again closer to the time as sometimes things change.

[Lite Beer]

Thanks for that and also Lopburi.

It will be a year or so before I want to do this so I will have to go into it again closer to the time as sometimes things change.

We will be here waiting.

[PiersRudford]

Rather than going to the British Embassy in Bangkok for the income letter, would it be possible to obtain one from the Honorary British Consul in Jomtien? Piers

[Lite Beer]

Rather than going to the British Embassy in Bangkok for the income letter, would it be possible to obtain one from the Honorary British Consul in Jomtien? Piers

Yes it would

[hotfrog]

Hi,

I have the equivalent of 800,000 in pounds sterling deposited in a Thai bank, does this count towards the 800,000baht requirement or do I have to exchange it into Thai Baht. I don't really want to change it now since the pound is still low.

Thanks

[lopburi3]

If this is a deposit account (you can access at any time and not mutual fund or stock based) it will normally be accepted.

[biplanebluey]

Hi,

I have the equivalent of 800,000 in pounds sterling deposited in a Thai bank, does this count towards the 800,000baht requirement or do I have to exchange it into Thai Baht. I don't really want to change it now since the pound is still low.

Thanks

If you have the exact amount today and the rate of exchange goes against you------bingo! you are below the 800,000 minimum.Even for one day,and you are in trouble!-----BEWARE my friend

[Billmont]

Regarding rental income I just got a letter from my solicitor confirming the leases he holds for me, mortgage free, expiry dates and gross income and this was accepted by the British Embassy without question and I got the necessary income letter. The rent is paid into my UK bank account and I call on it when it is necessary but I usually bring enough or transfer enough to last one year.So no mention of what money I have in Thailand or if any of the rent is remitted into Thailand. I think the main purpose is to show that you have funds to live in Thailand and that will satisfy the British Embassy, providing of course they are equal or more than required by Thai Immigration.

[Billmont]

Hi,

I have the equivalent of 800,000 in pounds sterling deposited in a Thai bank, does this count towards the 800,000baht requirement or do I have to exchange it into Thai Baht. I don't really want to change it now since the pound is still low.

Thanks

If you have the exact amount today and the rate of exchange goes against you------bingo! you are below the 800,000 minimum.Even for one day,and you are in trouble!-----BEWARE my friend

Friend of mine had this problem, the Immigration would not accept so he had to top up. When he went back to Immigration they wanted a new letter for the Embassy so more hassle. Your are right the ROE can be a big problem if you are hold a foreign currency account and the ROE moves against you.

[hotfrog]

Thanks a lot. As long as this is accepted I can always exceed the requirement just in case the rate does go down.

[cheeryble]

Hi,

I have the equivalent of 800,000 in pounds sterling deposited in a Thai bank, does this count towards the 800,000baht requirement or do I have to exchange it into Thai Baht. I don't really want to change it now since the pound is still low.

Thanks

If you have the exact amount today and the rate of exchange goes against you------bingo! you are below the 800,000 minimum.Even for one day,and you are in trouble!-----BEWARE my friend

Friend of mine had this problem, the Immigration would not accept so he had to top up. When he went back to Immigration they wanted a new letter for the Embassy so more hassle. Your are right the ROE can be a big problem if you are hold a foreign currency account and the ROE moves against you.

That's not the worst of it!

I once was very close to the mark of 800k, held in sterling in a GBP account. I worked it out that I had like about 802k or something like that in pounds. They worked it out and refused me. I said what the @#$%?

He showed me the screen. He was using the (worse) Tourist Rate. I said but when the bank transfers that account money into baht they use the TT rate. He said.........well I'll let you guess what he said.....

[cigar7]

To obtain the OA visa you had to also have medical and police report in addition to proof of funds. The extension of stay is making the 90 day entry one year longer and this can be repeated in country. If you need to convert from a tourist visa entry that will cost an extra 2,000 baht at immigration and proof you have the funds for retirement. That new entry can then be extended for one year for the normal 1,900 baht fee. Or you can just visit a Consulate to obtain a single entry non immigrant O visa to start the process.

Just 2 weeks I did exactly lopburi has indicated, except it was more simple. I came from Japan, arrived in Thailand, BKK airport, with no visa, entered based on "visa exemption rule" since I am Canadian, and got a stamp to stay for 30 days. Went to the Jomtien immigration office 7 days after entry, paid 3900b and got a retirement visa good until April 2012. I returned the next day and got a multi-entry re-entry permit for 3800 baht. Now I can come into Thailand and stay as log as I want until April 2012, and leave and re-enter as many times as I want, until April 2012. I do need to report to immigration after staying in the country for 90 days, and every 90 day period thereafter.

To get the retirement visa, the following were required: 2 sets of documents, each set consists of:

a. photo copy of bank book showing funds of 800k baht in the account for at least 3 months

b. application form completed (available for free at immigration office)

c. a passport size photo of me for each application form (at the shop beside immigration 4 photos were 150b)

d. proof of my address, a receipt from the hotel was OK

e. letter from bank confirming the balance in the bank(one set gets the original, the second set can have a photo copy of the letter)

f. your passport with at least 2 blank pages

No police report, no medical report required!

Edited February 13, 2011 by cigar7

[Arkady]

A friend recently went to the consulate of a major Western power in Bangkok to get a letter certifying his pension income. They couldn't be bothered to look at his pension documentation and just told him his income was whatever he chose to write down (within reason I suppose). They were only concerned about payment of the fee which he somewhat churlishly disputed with them without success!

[jazzbo]

Post #29 (at Jomtien Immigration) paid 3900b and got a retirement visa good until April 2012. I returned the next day and got a multi-entry re-entry permit for 3800 baht

Maybe the 2000 baht gratuity you paid help smooth things over as it says right on the TM 7 form: Application Fee is 1900 Baht.

BTW IF the reference in #30 happens to be to the US Embassy, then the standard procedure is that you swear to your income and you are notified by the US Consular that the Thai Immigration official has every right to ask you for corroborating documentation of your declaration.

However, if you insist on a true certification of your income, the Embassy procedure is described here: http://bangkok.usembassy.gov/notary_authentication.html

Edited February 13, 2011 by jazzbo