Keeping money in Europe for retirement visa.

[Cheapman]

Can I keep my money in Europe (stock and obligations) and have a retirement visa at 50?

Can I show to immigration I have stocks or do they want see I have cash on a saving or current account.? Is gold or Apple stocks accepted?

How much my stocks should generate to get a visa.?

Will I have to pay tax to Thailand?

I just want to avoid to bring 800k bahts to thailand, if there is a easier way.

[ubonjoe]

For an extension of stay here you need 800K baht in a Thai bank unless you can prove 65k baht income by way of an embassy letter confirming your income.

You can apply for a OA visa at the embassy or an official consulate in your home country that allows you to keep your funds at home. Info: http://www.mfa.go.th/main/en/services/123/15385-Non-Immigrant-Visa-%22O-A%22-(Long-Stay).html

But best to check website of embassy to confirm their requirements.

[olddoc]

There are only two means of satisfying the Thai immigration regulation for an extension (not a visa) of stay based on retirement

1. Have 800,000 in a Thai Bank.

2. Have an income (certified by home Embassy) of 65,000 per month.

If you wish to avoid bringing assets into Thailand the only other option is to apply for an "O/A" visa in country of origin.

[Cheapman]

What is an income? What s the definition of income for Thai immigration. Something which come in and not come out... Duh?

My bank buy stocks for me, resell them and rebuy stocks.... Is that an income?

Even cash is not income as it s just printed paper . I will not spend 65k bahts a month. Are they nuts? I am not a "madam" :-)

Edited February 13, 2014 by Cheapman

[ubonjoe]

What is an income? What s the definition of income for Thai immigration. Something which come in and not come out... Duh?

My bank buy stocks for me, resell them and rebuy stocks.... Is that an income?

Even cash is not income as it s just printed paper . I will not spend 65k bahts a month. Are they nuts? I am not a "madam" :-)

You only need to prove that you can have the 65K baht income. You do not have to bring it all into the country.

If can come up with proof that you have an annual income equal to 65K baht that your embassy will accept as proof you can get an income letter from them.

Income can be from many sources. Returns from investments are income.

For the OA visa you just have to prove it to the embassy or official consulate.

[Cheapman]

I don't have these dam_n bahts, I have euro, dollars, francs, gold, stocks, trust, funds, guns, lot of guns... Yes I m fully loaded.

So I think it s ok.?I understand it s up to the embassy to accept what is worth or not for them.

Guns are certainly not approved I guess... :-) what about tax?

And I see I need doctor certificate. Look a pain in the ass to ask all these documents for one year only.

Why not just a trip to savanakhet? I bet after 50 yo, it s easier to get tourist visa for 9 months. Problem I need to leave Thailand every 3 months.

Or just easier to bring 800k to Thailand when change is good and get a full retirement visa for several years.?

What's the cheapest visa at the end?

Edited February 13, 2014 by Cheapman

[ubonjoe]

I don't have these dam_n bahts, I have euro, dollars, francs, gold, stocks, trust, funds, guns, lot of guns... Yes I m fully loaded.

So what now?

The income letter from your embassy will be in your home country currency equal to or greater than 65K baht.

Income/money for OA visa will be the same. The embassy website will have info. Find it here and click the link: www.thaiembassy.org/mainwww.thaiembassy.org/main/

[TerryLH]

"There are only two means of satisfying the Thai immigration regulation for an extension (not a visa) of stay based on retirement

1. Have 800,000 in a Thai Bank.

2. Have an income (certified by home Embassy) of 65,000 per month."

A third option is a combination of the two above equaling 800k.

[ubonjoe]

I don't have these dam_n bahts, I have euro, dollars, francs, gold, stocks, trust, funds, guns, lot of guns... Yes I m fully loaded.

So I think it s ok.?I understand it s up to the embassy to accept what is worth or not for them.

Guns are certainly not approved I guess... :-) what about tax?

And I see I need doctor certificate. Look a pain in the ass to ask all these documents for one year only.

Why not just a trip to savanakhet? I bet after 50 yo, it s easier to get tourist visa for 9 months. Problem I need to leave Thailand every 3 months.

Or just easier to bring 800k to Thailand when change is good and get a full retirement visa for several years.?

What's the cheapest visa at the end?

You can get almost 2 years from a OA visa because it will be a multiple entry visa. You get a one year entry every time you enter for the 1 year validity of the visa. Then you do an entry just before the visa expires and get another one year entry. After the visa expires you would need a re-entry permit to keep the last 1 year entry valid if you want to travel.

Don't worry about taxes. There will be none unless you earn it here.

You will only get a 2 entry tourist visa. Nothing change for be 50 or over.

No visa is cheaper than getting an extension of stay. The OA visa would be cheapest visa when you factor in costs for visas, border runs and 30 day extensions of a tourist visa entry.

[Suradit69]

What is an income? What s the definition of income for Thai immigration. Something which come in and not come out... Duh?

My bank buy stocks for me, resell them and rebuy stocks.... Is that an income?

Even cash is not income as it s just printed paper . I will not spend 65k bahts a month. Are they nuts? I am not a "madam" :-)

Sources of retirement income are generally from private or government pension. Since the letter confirming your income must come from your embassy, it really depends on what they will take into consideration. Money obtained by buying and selling stocks is capital gains (and losses). Since it's not regular or predictable, the embassy may not be willing to include that. Dividends from stocks and bonds might be acceptable.

They want to know that you have at least Baht 65,000 per month that you could spend to support yourself because they don't want any more indigent farang here than they have already. The only reason they want foreigners here is because they add to the economy. If you don't have money to spend why would they want you here?

Anyway, depending on where you stay in Thailand, Baht 65,000 isn't that much. I doubt many madams spend that amount here. But most madams are locals and not applying for a retirement extension. The government is not setting the amount in the hopes you have a good time. They don't want you showing up at a hospital without money to pay for treatment and they don't want you begging on Walking Street or sleeping in a tent pitched on the beach. Not nuts at all. Quite sensible to set minimum requirements.

[OMGImInPattaya]

For an extension of stay here you need 800K baht in a Thai bank unless you can prove 65k baht income by way of an embassy letter confirming your income.

You can apply for a OA visa at the embassy or an official consulate in your home country that allows you to keep your funds at home. Info: http://www.mfa.go.th/main/en/services/123/15385-Non-Immigrant-Visa-%22O-A%22-(Long-Stay).html

But best to check website of embassy to confirm their requirements.

Good of you to take the time to explain this Joe, because its never been covered before on T-V and use of the search function will come up with nada on this subject. It's also very complicated these two qualification scenarios so it's good to have them explained to us on an hourly basis. Edited February 13, 2014 by OMGImInPattaya

[JJ Madcow]

Well the 65.000 thb pr month is before you pay your tax of that money, so after taxing in your home country, the rest to live for, sound good / okay to live for ?

Well my Embassy use the numbers before Danish people have pay tax for the income letter.

But yes, 65k pr month is a lot of money to spend here pr month, but you don´t NEED to spend that. only have it (the 65k before taxing).

And yes, when on turn 50 years, live get "easy" to stay in Thailand, IF one have the funds / income for the requirement.

Can´t wait for that day my self..

[Cheapman]

Why do you want pay tax In your home country when you stay one year or more in Thailand?

Have you heard of tax on residence vs tax on citizenship (USA)?

[Langsuan Man]

Can I keep my money in Europe (stock and obligations) and have a retirement visa at 50?

Can I show to immigration I have stocks or do they want see I have cash on a saving or current account.? Is gold or Apple stocks accepted?

How much my stocks should generate to get a visa.?

Will I have to pay tax to Thailand?

I just want to avoid to bring 800k bahts to thailand, if there is a easier way.

What is an income? What s the definition of income for Thai immigration. Something which come in and not come out... Duh?

My bank buy stocks for me, resell them and rebuy stocks.... Is that an income?

Even cash is not income as it s just printed paper . I will not spend 65k bahts a month. Are they nuts? I am not a "madam" :-)

I don't have these dam_n bahts, I have euro, dollars, francs, gold, stocks, trust, funds, guns, lot of guns... Yes I m fully loaded.

So I think it s ok.?I understand it s up to the embassy to accept what is worth or not for them.

Guns are certainly not approved I guess... :-) what about tax?

And I see I need doctor certificate. Look a pain in the ass to ask all these documents for one year only.

Why not just a trip to savanakhet? I bet after 50 yo, it s easier to get tourist visa for 9 months. Problem I need to leave Thailand every 3 months.

Or just easier to bring 800k to Thailand when change is good and get a full retirement visa for several years.?

What's the cheapest visa at the end?

Why do you want pay tax In your home country when you stay one year or more in Thailand?

Have you heard of tax on residence vs tax on citizenship (USA)?

Congratulations you are on your way to being a real Thai Visa Warrior. Ask a question and then argue and not agree with the answer

[OMGImInPattaya]

Cheapo or Cheapman or whatever, if it pinches your pocket to deposit a measly 800k baht or equivalent in a thai bank, you really can't afford to retire in Thailand (or likely anywhere for that matter). You may just end up like the Dutchie who died homeless and bahtless on the streets of Pattaya recently. Think about it.

[JJ Madcow]

Why do you want pay tax In your home country when you stay one year or more in Thailand?

Have you heard of tax on residence vs tax on citizenship (USA)?

Well my country have a tax deal with Thailand about not double taxation. And my money come from Denmark.

It is Call (many country have same deal)

CONVENTION BETWEEN THE GOVERNMENT OF THE KINGDOM OF THAILAND

AND

THE GOVERNMENT OF THE KINGDOM OF DENMARK

FOR THE AVOIDANCE OF DOUBLE TAXATION

AND THE PREVENTION OF FISCAL EVASION

WITH RESPECT TO TAXES ON INCOME

Sorry for going little of tropic. But want to clear it up for Cheapman.

[pmarlin]

Why do you want pay tax In your home country when you stay one year or more in Thailand?

Have you heard of tax on residence vs tax on citizenship (USA)?

Well my country have a tax deal with Thailand about not double taxation. And my money come from Denmark.

It is Call (many country have same deal)

CONVENTION BETWEEN THE GOVERNMENT OF THE KINGDOM OF THAILAND

AND

THE GOVERNMENT OF THE KINGDOM OF DENMARK

FOR THE AVOIDANCE OF DOUBLE TAXATION

AND THE PREVENTION OF FISCAL EVASION

WITH RESPECT TO TAXES ON INCOME

Sorry for going little of tropic. But want to clear it up for Cheapman.

The USA has the same agreement. don't pay income tax in Thailand but do in the USA.

[Cheapman]

Don't tell me guys you pay income tax In your country while staying in Thailand? What for? (unless you get retirement money every month which is not my case as I get nothing)

You just need to remove your residence from your home country and legally you don't have to pay tax at all. It s simple as that.

Nothing to do of being a cheap Charlie . More like of being smart with my money. If I have to pay tax as a resident, in this case I prefer to remain a tourist for the rest of my life.

Edited February 14, 2014 by Cheapman

[ubonjoe]

From: http://www.rd.go.th/publish/6045.0.html

Taxpayers are classified into “resident” and “non-resident”. “Resident” means any person residing in Thailand for a period or periods aggregating more than 180 days in any tax (calendar) year. A resident of Thailand is liable to pay tax on income from sources in Thailand as well as on the portion of income from foreign sources that is brought into Thailand. A non-resident is, however, subject to tax only on income from sources in Thailand.

[JJ Madcow]

Well i live in Thailand, and have remove my residence from Denmark as one have to that when out of country more the 6 month pr year in Denmark.

But when you look at it from a money point, i get more money for my self at the end by paying the tax in Denmark Vs paying it in Thailand.

From Denmark i have a "good" personnel deduction pr month/year even so i live in Thailand, and pay less tax % of the total amount that way, then what Thailand want of my money. So i for one is happy about the way it is.

For me i happy about the way it is now, my Tax go to help people back home, that NEED it, so for me that okay.

Ubonjoe is correct, if one DON`T pay tax of the money in you home country, one now have to pay in Thailand.

PS: I for one have not be able to find more info about the " as well as on the portion of income from foreign sources that is brought into Thailand"

Like how must that "portion" is and so on.

[ubonjoe]

See 2 on webpage I posted the link to.

You only pay taxes on the money you bring into Thailand to live on or to buy things and that is mostly only money that you earn from working.

Pension income is exempted..

[Cheapman]

Well i live in Thailand, and have remove my residence from Denmark as one have to that when out of country more the 6 month pr year in Denmark.

For me i happy about the way it is now, my Tax go to help people back home, that NEED it, so for me that okay.

.

Mouhahah you don't help anybody! You pay only a return ticket...

“Denmark to pay immigrants £12,000 to go home if they ‘can’t or won’t’ assimilate,

[JJ Madcow]

Well i live in Thailand, and have remove my residence from Denmark as one have to that when out of country more the 6 month pr year in Denmark.

For me i happy about the way it is now, my Tax go to help people back home, that NEED it, so for me that okay.

.

Mouhahah you don't help anybody! You pay only a return ticket...

“Denmark to pay immigrants £12,000 to go home if they ‘can’t or won’t’ assimilate,

But no matter what, i am still happy to pay my tax money, we still have a lot of old people that need help, people that disability that need help and many more, so good Denmark take hand on them, and give them a chance to have a live after all. And not leave them for them self like many other country do.

But let not get this to be a fight about our country's, i am sure every country have good and bad side.

Back on tropic be good i think ??