Funds Required For One Year Extension-Retirement

[UbonOz]

Two years ago I changed from 800K in bank for three months to getting a Statutory Declaration from the Australian Embassy stating I have a minimum income of 65K/month. I assumed the Stat Dec would be accepted by immigration as total proof and no other documents required regarding finances.

Last year at Phibun Immigration they did not want anything except the Stat Dec. This year they wanted my BKK bank book, Stat Dec and ATM withdrawal slips.

My dilemma is, if you have 800K at the start of a year and only spend 600K you can just import 200K for the next year, starting off the new year with 800K.

With the 65K/month you need to import 780K/year, whether you need it or not, each and every year. If you do not spend that amount your bank balance will just keep growing. I prefer not to keep funds in Thailand that I do not need.

Having thought about this it would possibly be better to revert back to 800K/year, and only top up what is needed.

I can be out of the country for up to three months each year, not consecutively, so when I am not in Thailand I am not withdrawing funds. This means I will not import 780K/year.

I am now a little confused on the best option, probably because Thai Immigration is not precise in their requirements.

Any discussion would be appreciated.

Edited April 6, 2013 by UbonOz

[Mario2008]

The rule is that you need 800,000 baht for 3 months prior to your application for an extension. You don't have to spend the money.

For the income route, the rule is that you have an income of 65,000 a month. There is no rule that says you must bring in 65,000 baht a month.

But immigration often wants to see some kind of cash flow.

But some offices make up their own rules.

[UbonOz]

The rule is that you need 800,000 baht for 3 months prior to your application for an extension. You don't have to spend the money.

For the income route, the rule is that you have an income of 65,000 a month. There is no rule that says you must bring in 65,000 baht a month.

But immigration often wants to see some kind of cash flow.

But some offices make up their own rules.

If it is less than 75K/year do you think a problem?

[glegolo]

is it any help to know that if you use the combination of the embassy statement of your income and bankaccoun-tmethod, you do not need any time whatsoever with cash at the bankaccount, more than the last night before application.

Glegolo

[Mario2008]

The rule is that you need 800,000 baht for 3 months prior to your application for an extension. You don't have to spend the money.

For the income route, the rule is that you have an income of 65,000 a month. There is no rule that says you must bring in 65,000 baht a month.

But immigration often wants to see some kind of cash flow.

But some offices make up their own rules.

If it is less than 75K/year do you think a problem?

People who actually use that particulair office can advise better than me on that, but normally if is no problem.

[UbonOz]

is it any help to know that if you use the combination of the embassy statement of your income and bankaccoun-tmethod, you do not need any time whatsoever with cash at the bankaccount, more than the last night before application.

Glegolo

Thank you, I am aware of the combination.

My issue is, I don't want to keep money in Thailand that I do not need. If I don't get to 780K in a year, will Immigration give me a hard time.

Every time you transfer funds a portion of it evaporates.

[aarn]

Hi UbonOz,

I do my annual extensions on the of basis of statement of income (less than the dole) from embassy ~ $AUD13k (=~ 400kbaht), and bank balance here ~ 420kB.

Since you are apparently wealthier than I, why not just keep a bank balance of, say, 100kB?

That's about $AUD3.5k, could only buy an old banger for that in aussie-land. Cheers, AA

[sezzo]

I extended my visa on retirement basis at Phibun in Feb this year. I went to Oz embassy a few days earlier and got my stat dec counter signed stating that I had approx 65k per month transferred in my account here. I also got a letter from Bangkok bank in Ubon stating how much I had in my account. I went to Phibun immigration and they only wanted the stat dec. No other documentation ie. copies of bank book pages, letter from bank etc was required. In and out in under 30 mins