Income For Retirement Visa

[merlen10002]

I have a current retirement visa, my visa expires in December, I would like to know if income from an investment in Thailand is acceptable to the Thai immigration, I would like to use the money and not keep it in the bank, I have income from overseas, but not enough to make the 65,000 Baht amount, the last two times I went and reported at the immigration I asked about this, the first time I was told to ask at section L , after waiting for about three hours my number come up, I asked the officer if income from an ivestment in Thailand was acceptable and was told to fill out the form and get all my documents in order, I tried two more times to ask her but it was going nowhere, I said I was sorry for wasting her time and left, I went again last week to report and asked the officer at the reporting section and he was good and we talked about it and he thought it would be OK but did not know for sure and said I should go and ask at section L, I think better to ask the question here not at the immigration dept.

I have income from overseas and income from investment in Thailand are both acceptable for a retirement visa, I don't work only relax and play golf. thank you.

[lopburi3]

You are aware you can use a bank deposit for shortfall of 65k if total meets 800k?

As for investment in Thailand suspect you would need to supply tax paperwork to prove it. Or ask your Embassy what would be required to add it to your total in there income letter.

[merlen10002]

You are aware you can use a bank deposit for shortfall of 65k if total meets 800k?

As for investment in Thailand suspect you would need to supply tax paperwork to prove it. Or ask your Embassy what would be required to add it to your total in there income letter.

I am on my second retirement visa and know what is required for the visa, I use part income and part deposit in the bank, the only thing I don't know is income from thailand acceptable to the Thai immigration for the visa or does all the income must be from overseas ? getting the retirement visa is very easy if you have what is required. the income I have from Thailand is fully taxed by the Thai tax office and all documents are available and are legal. thank you for your reply

[CharlieH]

You are aware you can use a bank deposit for shortfall of 65k if total meets 800k?

As for investment in Thailand suspect you would need to supply tax paperwork to prove it. Or ask your Embassy what would be required to add it to your total in there income letter.

I am on my second retirement visa and know what is required for the visa, I use part income and part deposit in the bank, the only thing I don't know is income from thailand acceptable to the Thai immigration for the visa or does all the income must be from overseas ? getting the retirement visa is very easy if you have what is required. the income I have from Thailand is fully taxed by the Thai tax office and all documents are available and are legal. thank you for your reply

If you are using the income method, I was under the impression the income was verified by the Embassy, a letter produced and stamped and that is what is presented to immigration.

This would then mean Immigration have no idea where the money is coming from only that you have sufficient to meet the criteria.

All you have to do is show the Embassy where your income comes from in order to obtain the letter............as I understand it.

[Time Traveller]

I asked the officer if income from an ivestment in Thailand was acceptable and was told to fill out the form and get all my documents in order, I tried two more times to ask her but it was going nowhere, I said I was sorry for wasting her time and left,

In theory yes, but in practice it might be different (i.e. no). I’ve tried this several years ago using dividend income with annual income tax forms plus withholding tax forms plus certificate of the share registry – all Thai - and this method of income verification was not accepted. I suspect if you had an embassy letter with this it could be acceptable and then I doubt they’d care for or even understand what the other documents are.

Governments generally don’t put their most intelligent public servants to work in Immigration department, and the Immigration officers have difficulty understanding that income can come from sources other than salaried work - probably due to their “coolie” mentality. It is much simpler to use bank deposit as suggested before.

[personchester]

I asked the officer if income from an ivestment in Thailand was acceptable and was told to fill out the form and get all my documents in order, I tried two more times to ask her but it was going nowhere, I said I was sorry for wasting her time and left,

In theory yes, but in practice it might be different (i.e. no). I've tried this several years ago using dividend income with annual income tax forms plus withholding tax forms plus certificate of the share registry – all Thai - and this method of income verification was not accepted. I suspect if you had an embassy letter with this it could be acceptable and then I doubt they'd care for or even understand what the other documents are.

Governments generally don't put their most intelligent public servants to work in Immigration department, and the Immigration officers have difficulty understanding that income can come from sources other than salaried work - probably due to their "coolie" mentality. It is much simpler to use bank deposit as suggested before.

Yes, the 800.K. bank deposit is the best method to deal with the retirement visa application /renewal, I have done this for years, those that do not have the actual "cash" sum available at the bank can use investment income, but those incomes are not understood at immigration offices, and not accepted.

Therefore all the income details both from abroad and within Thailand must thus be brought to the Embassy, who will check them and then provide the needed "letter" but to reduce some of the paperwork hassle, some of the investment should be sold and put it into a Thai bank (special) deposit A/c (a little above to the required sum of 800.K) one gets some interest, but a 15% tax is automatically deducted from the account, Immigration officials when viewing the bank A/c booklet will note the tax deduction and offer a smile.

[lopburi3]

Actually the best option is using retirement pension letter from your Embassy as no loss of income earning potential is required.

[merlen10002]

I want to thank everyone for the help, much appreciated

[personchester]

Actually the best option is using retirement pension letter from your Embassy as no loss of income earning potential is required.

Understood, but some pension payments might not be enough, thus any additional income earnings are needed and the documents have to be officially confirmed in order to be accepted at immigration, therefore an 800.K.Thai Bank A/c is recommendable, only one letter (from the bank) is needed, cost 100 -THB.

[CWMcMurray]

I believe that what Lopburi is advising is doing an end around having to deal with Immigration on whether or not Thai Investment qualifies with them...

By going the Embassy Letter route, you do not need to raise the question with Immigration, you simply need to prove the total income to your Embassy (both Thai and Overseas).

Your Embassy can then issue you an Income letter and you then submit the income letter to immigration.