Drop In Pension Money

[crazyfalang]

Hi.

I don't know if this question has been asked before but it is something my qrops advisor mentioned to me.he was saying that if i get my 65000 baht per month and suddenly the exchange rate falls and say i only get say 62000 baht per month instead of the required 65000 baht, How will this affect my Pension (extension) visa. !!!!

Thanks.

[Expattaff1308]

To qualify for a retirement ext. based on pension a letter from your embassy is required. The monthly/annual amount would be noted in the letter to immigration.

Immigration will look at the figures supplied by your embassy (and possibly require evidence to support the amount from you) and calculate it on the day you apply for your extension.

If you fall short on the pension you can always go the combo route, - pension + cash in bank.

[Mario2008]

Per above, you can make up the missing income with money in the bank in a bank account in Thailand.

The rule is yearly income + money in the bank in Thailand must be at least 800,000 baht.

[JohnC]

I think what you are inferring is once you have a years extension the exchange rate drops and takes you below the B65000 monthly figure how is your extention affected? Simple answer is it is not! The rate applies on the date your extention is approved and that's you secure for one year, I used to watch the rates near my annual extention time and if it was borderline then I ensured there was some money in my Thai bank. As said above, if when you apply for your extention the exchange rate takes you below the B65000 then you would need to make up the difference with cash in a Thai bank and produce a bank letter along with your proof of income letter, again as said above this is the combo method.

[saakura]

Need 65000thb per month to qualify for a thai retirement visa?? Then all the retirees here will be quite well of, especially if living in the provinces.

[OJAS]

Need 65000thb per month to qualify for a thai retirement visa?? Then all the retirees here will be quite well of, especially if living in the provinces.

Not if you have a wife like this particular retiree's!

Seriously, though, and back on topic, the OP should be aware that, in the event of his having to use the "combo" method for proving finances in the case of a retirement extension, a number of immigration offices (notably Chaengwattana) are, according to recent reports on here, now insisting on the bank balance element being seasoned for 2 months for the initial extension and then for 3 months subsequently, even though this requirement is only supposed to apply to the full 800,000 THB minimum bank balance method of proving finances.

[Suradit69]

Need 65000thb per month to qualify for a thai retirement visa?? Then all the retirees here will be quite well of, especially if living in the provinces.

You need proof from your embassy that you have an income of at least Baht 65,000 per month in order to apply for an extension of stay (not a visa) based on retirement OR evidence from your bank passbook and letter from the manager of your bank that you have held at least Baht 800,000 in your account for 3 months prior to applying for an extension RENEWAL OR combining the two so that they add up to more than the Baht 800,000 minimum.

It is not required that you spend that amount, but that you have it available from one or both sources. Some people find it is more than they actually need, but others would require more than that amount. The amount was not set based on keeping you comfortable. They want people to retire here who have sufficient income to make a positive difference to the economy and to discourage people who are essentially economic refugees.

As JohnC said, fluctuations in exchange rates during the year of your extension won't matter. The requirements need to be met at the time when you apply each year.

Edited October 23, 2014 by Suradit69

[John1012]

Need 65000thb per month to qualify for a thai retirement visa?? Then all the retirees here will be quite well of, especially if living in the provinces.

Not if you have a wife like this particular retiree's!

Seriously, though, and back on topic, the OP should be aware that, in the event of his having to use the "combo" method for proving finances in the case of a retirement extension, a number of immigration offices (notably Chaengwattana) are, according to recent reports on here, now insisting on the bank balance element being seasoned for 2 months for the initial extension and then for 3 months subsequently, even though this requirement is only supposed to apply to the full 800,000 THB minimum bank balance method of proving finances.

ORDER OF THE IMMIGRATION BUREAU No. 327/2557

Subject: Criteria and Conditions for Consideration of an Alien’s Application

for a Temporary Stay in the Kingdom of Thailand

This Order is effective as of 29 August 2014.

2.22 In the case of retirement:Each permission shall be granted for no morethan one year.

The alien:

(1) Must have been granted a non­immigrant visa (NON­IM).

(2) Must be 50 years of age or over.

(3) Must have evidence of having income of no less than Baht 65,000 per month: or

(4) On the filing date, the applicant must have funds deposited in a bank in Thailand of no less than Baht 800,000 for the past three months. For the first year only, the applicant must have proof of a deposit account in which said amount of funds has been maintained for no less than 60 days prior to the filing date: or

(5) Must have an annual earning and funds deposited with a bank totaling no less than Baht 800,0000 as of the filing date.

I do not understand how an immigration office can misinterpret item 5 of the above order. There is definately NO mention in section 5 of 2.22 stating that the funds have to have been deposited for any length of time prior to filing date. Surely until there is an update to 327/2557 then any such demand for proof of historical deposit could be challenged as an illegal requirement. We as aliens HAVE to obey the law , otherwise we are liable for deportation. Why are Thai officials not required to enforce the law as it is written? Can they be forced to enforce the law as it is written? Or do we, as aliens, have to bend over every time the head of a particular fiefdom chooses to change the legal requirements set out by the government.

I can answer that myself, YES. That is why Thailand will eventually disappear up it's own orifice, with the application of local interpretation of laws at the whim of the resident 'Baron'. Medieval Thailand. Until there is a standard application of national law Thailand will continue to regress until it becomes almost impossible to govern. I was hoping that the General would place a strong hand over this local practice, but it seems to be taking a while. Maybe he should advise that the armed services be run on the same principal. Let's interpret the order of the day/or not as we feel. I don't think so.

[John1012]

As an aside, I happen to agree in principal that monies in the bank should be seasoned for the fund and income method, but it is not the LAW.

[jayceenik]

Is there not a requirement that the 800k must originate from outside LOS ?

I always have my bank letter stipulate that.

[Mario2008]

Is there not a requirement that the 800k must originate from outside LOS ?

I always have my bank letter stipulate that.

There is no such requirement.

Only when you apply for a conversion from a visa exempt or tourist visa must the money in the bank come from abroad for the conversion itself.

[ubonjoe]

As an aside, I happen to agree in principal that monies in the bank should be seasoned for the fund and income method, but it is not the LAW.

The intent of the rule (it is not a law) allowing for a combination is for exchange rate fluctuations so if persons home currency takes a dive in relation to the baht some money can be put in the bank to compensate for it. That is why there is no seasoning needed.

If anything they should refine the rule that no seasoning is needed if you are within a certain amount of the 800k baht. For example you only need 50k baht or less in the bank no seasoning is needed.

[Evilbaz]

I was told by the lady Captain in the Phuket office about "seasoning for three months" the balance required over pensions

in no uncertain terms last year.

Even though I produced the previous Order (in Thai) it made no difference.

Her answer was " I'm The Boss here " !

On the "Combo method" you are required in effect to do a bit of currency speculation with your Pension's value and the balance required.

Best to transfer in sufficient to cover a 1 to 2 baht drop v. your currency, which will affect your pension value and the balance required.

Each Immi Office can indeed be its own "Fiefdom" in terms of interpretation of "the Law" (which actually are Regulations proscribed under The Law, to be pedantic)

Edited October 24, 2014 by Evilbaz

[Mario2008]

2 months for first extension, 3 months for every extension thereafter.

[wpcoe]

ORDER OF THE IMMIGRATION BUREAU No. 327/2557

Subject: Criteria and Conditions for Consideration of an Aliens Application

for a Temporary Stay in the Kingdom of Thailand

This Order is effective as of 29 August 2014.

2.22 In the case of retirement:Each permission shall be granted for no morethan one year.

The alien:

(1) Must have been granted a non­immigrant visa (NON­IM).

(2) Must be 50 years of age or over.

(3) Must have evidence of having income of no less than Baht 65,000 per month: or

(4) On the filing date, the applicant must have funds deposited in a bank in Thailand of no less than Baht 800,000 for the past three months. For the first year only, the applicant must have proof of a deposit account in which said amount of funds has been maintained for no less than 60 days prior to the filing date: or

(5) Must have an annual earning and funds deposited with a bank totaling no less than Baht 800,0000 as of the filing date.

I do not understand how an immigration office can misinterpret item 5 of the above order.

You and me both, brother. I first bumped into this at Hua Hin Immigrations a couple years ago. They would not budge, other than offering a "way to do it" for a B4,000 fee. They even suggested I could return to Jomtien (where I had lived and been extending for several years) to avoid the requirement. Then, out of the blue, they issued me the extension, saying NEXT year I had to abide by the 90-day seasoning.

The senior officer there even said he understood my "interpretation" but that I was "the first person to ever explain that."

When you are sitting there, they hold all the cards.