The 800,000 And Sailing Close To The Wind

[mandee]

I know i can claim a reduction by showing proof of my pension, and for two reasons i.e. I don't want to die intestate and leave more than necessary in the fixed deposit and also am sailing close to the wind financially.

So in this respect due to currency fluctuations, how does immigration calculate the required sum.?

Watching the fluctuations for the past few years, my annual pension converted to baht has varied 160K from to 22OK.

I noticed in another thread that the confirmation letter has to be renewed annually (although my pension never changes), perhaps the answer I'm looking for is in there.Then the value would be re-calculated annually.

I have not yet tried to claim the reduction as I have a few years slack.

I guess if push comes to shove is the 90 day visa run still an option,?

I have feeling that it is now not possible.

Thank You

Edited November 18, 2012 by mandee

[lopburi3]

Am not sure what you are calling a reduction but yes you can use a combination of money in bank account and income/pension as listed in Embassy letter to meet the 800k per year figure. Normally immigration would accept the current exchange rate if you have paperwork or will check themselves (so yes it can and does vary). Normally the letter of income will be in your home country currency so will have to be converted at time of application. Normally you can obtain a multi entry non immigrant O visa from a home country honorary consulate (official Consulates might only offer long stay visa requiring money and police/health checks). And yes this is a yearly process with new financial proof required each time (in the case of extensions for retirement).

[mandee]

name='lopburi3' timestamp='1353287167' post='5858016']

Am not sure what you are calling a reduction but yes you can use a combination of money in bank account and income/pension as listed in Embassy letter to meet the 800k per year figure. Normally immigration would accept the current exchange rate if you have paperwork or will check themselves (so yes it can and does vary). Normally the letter of income will be in your home country currency so will have to be converted at time of application. Normally you can obtain a multi entry non immigrant O visa from a home country honorary consulate (official Consulates might only offer long stay visa requiring money and police/health checks). And yes this is a yearly process with new financial proof required each time (in the case of extensions for retirement).

[/b]

Thank You very much. I have been on a retirement visa for six years already. So You have fully answered my query TVM.

Unfortunately I seem to be looking at extended longevity, and with inflation am concerned that I will need to eat into the 800,000. I would need to use the worst historical exchange rate.

In this case can you kindly advise on the current situation with visa runs, are they a viable, ( but of course less convenient), alternative to the retirement visa ?

[lopburi3]

Am not sure how easy it would be to obtain a multi entry non immigrant visa in the region - most reports are of getting single entry for retirement as plans are to extend later. For marriage Savannakhet is easy but not sure on retirement. Many people do stay here long term on tourist visas when nothing else is available to them but at that point it is probably more cost effective to study something part time to obtain ED education visa and extension of 90 days at a time.

[mandee]

" Many people do stay here long term on tourist visas when nothing else is available to them"

Thank you this is what I had in mind, I'm too old (76) for an Ed visa, and using the 800,000 for visa runs every 3 months, would be OK. Over the past years I "heard" that there was a crackdown on overuse of the tourist visa method. Could you kindly elaborate please ?

Edited November 19, 2012 by mandee

[lopburi3]

There are some places that will limit the number to 5 or less but even these seem to have exceptions and believe your age would be one of them. But even if not you would get 15 days visa exempt and be able to go to another Consulate in most case and obtain there. But even ED could be used as any subject can be studied if school is approved and there is no passing grade requirement so only means about 4 hours a week for most. But a trip to Oz or homeland could likely obtain a multi entry non immigrant O visa which would allow 15 months stay each time with only a border crossing/return every 90 days required.

[mandee]

"But even ED could be used as any subject can be studied if school is approved and there is no passing grade requirement so only means about 4 hours a week for most."

I would be quite happy to enrol for one of these, sorry to be such a pain, but could anyone point me in the right direction..especially anyone on this method ?

BTW It would be good if one's property could be taken onto account (no rent to pay), in assessing the 800,000, but ....

Thank You

[lopburi3]

You might want to post where you live for better information.

If you own property you might consider mortgage on that before giving up on the retirement extension? Especially if you do not have specific plans to pass on after death.

As for schools a few advertise on forum and expect you can Google for some in your area if nobody provides additional information - there are a number of threads here about ED visas and schools that you might want to read.

[beechguy]

"But even ED could be used as any subject can be studied if school is approved and there is no passing grade requirement so only means about 4 hours a week for most."

I would be quite happy to enrol for one of these, sorry to be such a pain, but could anyone point me in the right direction..especially anyone on this method ?

BTW It would be good if one's property could be taken onto account (no rent to pay), in assessing the 800,000, but ....

Thank You

Looking at one of the sponsor websites could be a start. Walen has a Thai language program, even if they couldn't help you I'm sure some useful information could be obtained.