Dual Incomes To Satisfy Monthly Income Requirements

[Muang Nok]

I currently have a monthly retirement income of 60,000 baht. My Thai/American wife gets a monthly US Social Security retirement income of 20,000. Our total combined monthly retirement income for us equals 80,000 every month. I am assuming that when we reapply for our annual extension next year that this monthly retirement income will more than satisfy the 65,000 baht monthly retirement income requirement.

[beechguy]

No, it has to be your income for your "Extension of Stay", but if it isn't quite enough you can show an additional amount in the bank using a combination method. Requirement is income of 65,000 Baht per month, or 800K in the bank, or a combination of the two.

Edited April 5, 2011 by beechguy

[Prajak]

Is your wife, are you married ?, Thai national ? Can't you apply for a marriage extension ?

If not, 60 k x 12 is 720 k so at least 80 k in the bank "from abroad".

And in a personal bank account, no deposit, and no and/or account and three (first time two) months before application.

[gosompoi]

Yes if your wife is Thai, then get an extension based on marriage which would only require your monthly income to be 40,000 baht.

[lbjcb]

Doubt the marriage income thinkggy for Retirement visa will fly with your Thai/American wife since it is SS from the usa. And also because it is her income. Thgink you have to have the 66,000 per month yourself, not including her income.

Check with your local immigration office to be sure. they might just accept it.

Consider:

1. Showing marriage to a Thai national and not her income at all, which will reduce your monthly income requirement. (I think to 400,ooo or about 40,000 a month).

2. Save, and put at least 80,000 (about $2,500 - $3,000) seasoned about 3 months (just to be sure it meets the seasoning requirement) in a Thai Bank (depending on the exchange rate at that time).

3. Hope the USD - THB exchange rate gets way better by the time you apply.

4. Get a "income verification letter" (which is required anyhow to prove your retirement income) from your Countries Embassy.

Edited April 5, 2011 by lbjcb

[lopburi3]

1. The requirement for retirement is that the money be yours alone. You can do Thai Wife with current income (but a lot more paperwork) or put enough money into an account here in your name to meet the 800k total income/account requirement.

2. There is no seasoning period for combination method retirement in regulations so should be accepted if bank account opened the day before TM.7 filed.

[Prajak]

[2. There is no seasoning period for combination method retirement in regulations so should be accepted if bank account opened the day before TM.7 filed.

You are right, Lopburi3, I gave wrong information.

[Muang Nok]

Thanks for the help. Advice very much appreciated. Next year I think I'll go ahead and try the married with Thai spouse approach. She is also a Thai citizen. It will be different than what I've done for the last four years, but doable (maybe being overly optimistic) if I dot all the i's and cross all the t's paperwork wise. 40,000 Baht a month is more comfortable than tying up (seasoning) 800,000 Baht.

[Jingthing]

If you've got 60K baht per month income that's 720K annually, so all you would need is 80K baht in a Thai bank account to get a retirement extension using the combo method. Also, when using the combo method, NO seasoning needed for that 80K.

[maprao]

Go back to the States. Make sure you are on a Non Immigrant O visa based on marriage to your Thai wife. The financial requirement for you in the case will only be 40,000 or 400,000 (seasoned) when you apply for an extension. Get an affidavit from the US Embassy for 60,000 a month income and this should be more than enough (20k over).

[Muang Nok]

Jingthing. I think I'll do that. I'm only lacking 5,000 Baht per month. I will have that much and more multiplied by 12 easily in a bank account at the reporting time. Come to think of it again, I'll attempt (to go with) the retirement option next January when I do my annual application for extension. The marriage option is somewhat cumbersome and very challenging with all the extra hoops that you have to go through. I will have 60,000 per month retirement income plus at least 100,000 in my Bangkok Bank savings account at the time. Thanks.

[maprao]

Jingthing. I think I'll do that. I'm only lacking 5,000 Baht per month. I will have that much and more multiplied by 12 easily in a bank account at the reporting time. Come to think of it again, I'll attempt (to go with) the retirement option next January when I do my annual application for extension. The marriage option is somewhat cumbersome and very challenging with all the extra hoops that you have to go through. I will have 60,000 per month retirement income plus at least 100,000 in my Bangkok Bank savings account at the time. Thanks.

Now someone can help me. Other than getting a new visa and taking your wife with you with a couple of pictures and papers with you why is it cumbersome. Just curious as this is the second person that has made reference to this.

[lopburi3]

There will be requirements for photos together, home visit, copies of both parties documents, interview/signatures from wife, under review/return after 30 days and closer checking of every entry as paperwork must submitted to higher (Bangkok level) officials for approval rather than the local official who has the authority for retirement extensions.

It is not all that complex normally but it is extra effort for everyone.

[maprao]

There will be requirements for photos together, home visit, copies of both parties documents, interview/signatures from wife, under review/return after 30 days and closer checking of every entry as paperwork must submitted to higher (Bangkok level) officials for approval rather than the local official who has the authority for retirement extensions.

It is not all that complex normally but it is extra effort for everyone.

Thanks lopburi3

[Jingthing]

Jingthing. I think I'll do that. I'm only lacking 5,000 Baht per month. I will have that much and more multiplied by 12 easily in a bank account at the reporting time. Come to think of it again, I'll attempt (to go with) the retirement option next January when I do my annual application for extension. The marriage option is somewhat cumbersome and very challenging with all the extra hoops that you have to go through. I will have 60,000 per month retirement income plus at least 100,000 in my Bangkok Bank savings account at the time. Thanks.

Great but keep in mind that when qualifying for the retirement extension using the income method, the annual needed total is 65K x 12 = 780K. When using the combination method, the needed amount is 800K total, not 780K total, so you with 60K x 12 = 720K you need 80K baht banked, not 60K.

[Muang Nok]

Great. Thanks for all the help. Choke Dee