A 65000 baht question ...

[mrfaroukh]

The best way for you is the combination of your monthly income 50 000 x 12= 600 000 Baht. What you need is to have 200 000 Baht in the bank in Thailand all the time or 3 months before the extension of your visa. The combination of monthly income and money in bank should be 800 000 Baht.

[laislica]

I have to get a letter each year from the British Embassy in Bangkok I show them both pension and investment they then show it on a headed letter think it would be better to show the bog standard 65,000 baht per month if your embassy will do that I would suggest you show them your investments for the last year I cluding any other income and request they divide by 12 I am surprised that your investment fluctuates so much from month to month ie from 120,000 one month to less than 65,000 another month !!

The Aus. embassy just certify whatever you want to write on the statutory declaration, they don't bother checking..... they just stamp it, sign it, "590 baht please" !

as for my investment income, nearly all of it is dividend income from a number of companies, most Australian companies tend to pay their dividends around the same 2 times of the year, that is july to October and again from Feb. to May to match the general financial year. So October I get around 150,000 baht dividend income, but no dividends in November.

I just have to resist the temptation to splurge this month .....

Maybe they don't check because you are effectively swearing an oath that you receive such and such.

The UK consulate in CM required print outs of bank statements with the "pension" or other acceptable income highlighted to help them see if your stated income (on the verification form) is correct.

<quote> "590 baht please" !<quote>

Think yourself lucky!

The UK Consulate charged the equivalent of fifty quid! 2,750b last time I did it a couple of years ago.

I use the bank route and have the funds in for 60 days the first application and 90 days ever after.

You can spend the money as you wish once the extension is granted.

Just ensure at least 800,000b is in there for at least 90 days before your application for extension for next time.

(Nothing to do with when your extension expires, 90 days before the application to extend which can be up to 45 days before the extension expires)

Having the 800,000 b in the bank cost just 100b for the letter.

Edited October 26, 2014 by laislica

[EnglishJohn]

You lucky b*ggers from Oz and the US. Not only do the Brits want to see documents attesting to income before they'll issue the necessary letter, they then gouge us an extortionate amount.

And what our imperial forebears would say about being reduced from the swankiest embassy in town to a cubicle in the risibly named Trendy building, I shudder to think.

lol, you are so right.

I went to get a 'Certificate of Residency' at the UK embassy last week.

After I gained entrance into the 'dodgy looking nightclub' and waited for an hour, they took a copy of a bank statement and my passport and they stamped the form I had to fill in myself. Total of 5 minutes at the most for them. I will say the staff were pleasant and polite.

The charge ? 3,080 baht - 60 quid. I asked if I could get 2 copies (for car and motorbike licenses) and she said yes, but it would be 6,160 baht.

I don't mind spending money, but I hate being screwed and this one is up there with the best of them. 'Rip Off Britain' at it's finest. Reminded me why I'm here and not there.

I'm still trying to work out where all the tax I pay in the UK goes to. After they've taken it, I still have to pay for most things separately - and the list grows every year.

[Strangebrew]

Simple I went to US embassy with letter from my pension Showing 2.800 gross per month from teamsters Never showed SS Got mine easy. Just few months before due to renew either show tax returns or pension letter of course have bank statement showing monthly deposit in US Only pull out what I need when I need. Not to happy with extra paperwork if I deposit any here. So that is something to remember if you do the 800,000 Baht deposit route extra yearly forms to fill. Might open Citibank account free transfer of funds from branch to branch And can do online.

[ubonjoe]

Simple I went to US embassy with letter from my pension Showing 2.800 gross per month from teamsters Never showed SS Got mine easy. Just few months before due to renew either show tax returns or pension letter of course have bank statement showing monthly deposit in US Only pull out what I need when I need. Not to happy with extra paperwork if I deposit any here. So that is something to remember if you do the 800,000 Baht deposit route extra yearly forms to fill. Might open Citibank account free transfer of funds from branch to branch And can do online.

A low cost way to transfer funds into the country from the states is via Bangkok Banks New York branch to your account with them. It is a domestic ACH transfer which is free at many banks in the states.

I have my SS payments direct deposited to my account that way. Costs me about $12.

[mercman24]

i totally agree with the rip-off British Embassy, you supply them with all the necessary documents, even do the totals yourself, they just copy it, put it on a piece of headed paper and charge you £50 (2620 baht) for the pleasure, Bangkok Bank did the same and charged my £2. (100baht)

[OJAS]

Maybe they don't check because you are effectively swearing an oath that you receive such and such.

The UK consulate in CM required print outs of bank statements with the "pension" or other acceptable income highlighted to help them see if your stated income (on the verification form) is correct.

<quote> "590 baht please" !<quote>

Think yourself lucky!

The UK Consulate charged the equivalent of fifty quid! 2,750b last time I did it a couple of years ago.

I use the bank route and have the funds in for 60 days the first application and 90 days ever after.

You can spend the money as you wish once the extension is granted.

Just ensure at least 800,000b is in there for at least 90 days before your application for extension for next time.

(Nothing to do with when your extension expires, 90 days before the application to extend which can be up to 45 days before the extension expires)

Having the 800,000 b in the bank cost just 100b for the letter.

That assumes, of course, that you still have 800,000 THB safely stashed in your account and that no fraudster has, unbeknown to you, helped themselves to a chunk of it with the assistance of a cloned ATM card (as has happened to me with 2 accounts I've held with separate banks here).

And not to mention a lengthy wait at your bank branch for a 100 THB letter - nearly 90 minutes at Bangkok Bank's Rayong branch on the one and only occasion I obtained this letter a few years ago. I was subsequently in and out of Immigration with extension of stay stamped in my passport in less than 30 minutes!

That is why I personally prefer to pay £50 for an Embassy letter - much less stress and hassle in my experience!

[brianp0803]

Is it possible to setup an investment account in Thailand to meet the retirement financial requirements?

If I bring 800,000 baht into Thailand I would like to invest it instead of simple bank interest.

It would need to be relatively safe investment since it is for short term use.

[ubonjoe]

Is it possible to setup an investment account in Thailand to meet the retirement financial requirements?

If I bring 800,000 baht into Thailand I would like to invest it instead of simple bank interest.

It would need to be relatively safe investment since it is for short term use.

Immigration will only accept a savings or a standard fixed term account. The fixed term account must allow withdrawals with no delay and no penalty other than loss of interest.

[Tassie Norm]

G'day Brianp0803. Yes, there are bank term deposits available in Thailand

I have an American friend who does this and receives a (slightly) higher interest rate than 'on call'. I personally, at this time, don't use the money-in-the-bank approach as I receive a much higher interest rate in Oz (and am fortunate to receive in excess of 65,000B per month).

[brianp0803]

G'day Brianp0803. Yes, there are bank term deposits available in Thailand

I have an American friend who does this and receives a (slightly) higher interest rate than 'on call'. I personally, at this time, don't use the money-in-the-bank approach as I receive a much higher interest rate in Oz (and am fortunate to receive in excess of 65,000B per month).

I am over 50 years old but still a long way from 65 and getting my social security and pension income(over 65,000 a month).

Currently working with work permit but nice to know the retirement options.

I have the financial resources to retire now but enjoy my job most of the time(unbelievable).

Since retirement is an viable option, I work because that is my current preferences. When thing change I want to be ready and have the knowledge.

Investment generally pays higher interest but the market has been know to drop rapidly (but recovers with enough time)

Thank you for your advice.

[quandow]

I've been using combined pension and investment income for years. Only once did an official from the U.S. embassy question it, and it was more of an off hand remark.

[vox2]

I have a question that is a bit out of context to this topic but somewhat related to pensions and Social Security. I use a mail forwarding company in the USA that sends me my mail on a monthly basis and I have listed that as my contact address with Social Security. Obviously that is not my residential address and I indicated that on their online form. However nowhere on their website does it allow one to say that they now lives outside of the USA.

Am I still obligated to tell Social Security that I now live outside of the country even though my bank account is in the USA and that is where my monthly Social Security check is deposited?

I tried for days to call Social Security in the US but I can never get through as the line is always busy. Thanks in advance for any feedback.

[ubonjoe]

I have a question that is a bit out of context to this topic but somewhat related to pensions and Social Security. I use a mail forwarding company in the USA that sends me my mail on a monthly basis and I have listed that as my contact address with Social Security. Obviously that is not my residential address and I indicated that on their online form. However nowhere on their website does it allow one to say that they now lives outside of the USA.

Am I still obligated to tell Social Security that I now live outside of the country even though my bank account is in the USA and that is where my monthly Social Security check is deposited?

I tried for days to call Social Security in the US but I can never get through as the line is always busy. Thanks in advance for any feedback.

You should contact the office in Manila. You can send them a change of address by email.

Contact info is here on embassy website: http://bangkok.usembassy.gov/service/federal-benefits-and-taxes.html

[laislica]

Maybe they don't check because you are effectively swearing an oath that you receive such and such.

The UK consulate in CM required print outs of bank statements with the "pension" or other acceptable income highlighted to help them see if your stated income (on the verification form) is correct.

"590 baht please" !

Think yourself lucky!

The UK Consulate charged the equivalent of fifty quid! 2,750b last time I did it a couple of years ago.

I use the bank route and have the funds in for 60 days the first application and 90 days ever after.

You can spend the money as you wish once the extension is granted.

Just ensure at least 800,000b is in there for at least 90 days before your application for extension for next time.

(Nothing to do with when your extension expires, 90 days before the application to extend which can be up to 45 days before the extension expires)

Having the 800,000 b in the bank cost just 100b for the letter.

That assumes, of course, that you still have 800,000 THB safely stashed in your account and that no fraudster has, unbeknown to you, helped themselves to a chunk of it with the assistance of a cloned ATM card (as has happened to me with 2 accounts I've held with separate banks here).

And not to mention a lengthy wait at your bank branch for a 100 THB letter - nearly 90 minutes at Bangkok Bank's Rayong branch on the one and only occasion I obtained this letter a few years ago. I was subsequently in and out of Immigration with extension of stay stamped in my passport in less than 30 minutes!

That is why I personally prefer to pay £50 for an Embassy letter - much less stress and hassle in my experience!

As I have said many times before, have two accounts.

One not linked to an ATM card.

Transfer only small amounts of money to the ATM account as required.

Kasikorn was 100 b and took only a couple of minutes once we reached the desk.

If the bank is crowded then of course you have to wait.

As others have pointed out, the consular route has a long wait, always and I found that they needed one day in CM before the letter was ready! Therefore two visits/days wasted/extra travel costs.......

The bank did it on the spot.

Never keep much money in your ATM account.......

It doesn't cost too much to maintain a second account and it gives so much more security and peace of mind.

Good Luck.

[laislica]

I have a question that is a bit out of context to this topic but somewhat related to pensions and Social Security. I use a mail forwarding company in the USA that sends me my mail on a monthly basis and I have listed that as my contact address with Social Security. Obviously that is not my residential address and I indicated that on their online form. However nowhere on their website does it allow one to say that they now lives outside of the USA.

Am I still obligated to tell Social Security that I now live outside of the country even though my bank account is in the USA and that is where my monthly Social Security check is deposited?

I tried for days to call Social Security in the US but I can never get through as the line is always busy. Thanks in advance for any feedback.

Check on what happens after your home country learn that you are no longer resident there.

The UK will freeze the state pension at whatever you get when they find out, never get any more increases to take care of inflation.

The Aussies also have "punishment" for non resident pensioners.

Just sayin.

[ubonjoe]

I have a question that is a bit out of context to this topic but somewhat related to pensions and Social Security. I use a mail forwarding company in the USA that sends me my mail on a monthly basis and I have listed that as my contact address with Social Security. Obviously that is not my residential address and I indicated that on their online form. However nowhere on their website does it allow one to say that they now lives outside of the USA.

Am I still obligated to tell Social Security that I now live outside of the country even though my bank account is in the USA and that is where my monthly Social Security check is deposited?

I tried for days to call Social Security in the US but I can never get through as the line is always busy. Thanks in advance for any feedback.

Check on what happens after your home country learn that you are no longer resident there.

The UK will freeze the state pension at whatever you get when they find out, never get any more increases to take care of inflation.

The Aussies also have "punishment" for non resident pensioners.

Just sayin.

For those from the US there is no repercussions for living outside the country. You still get the annual cost of living allowance increase.

[natway09]

Stick the 800,000 in a Thai bank, get your 3 month 0 visa in OZ & arrange the retirement visa once you hit these fair shores

[mango66]

In Chiang Mai, I give copies of my annual investment income (have no pension payments yet) for the year and it has never been a problem...

I think as long as the total meets the sum of monthly X 12 but I have never seen them get the calculator out and do the math...

They seem to rely more on my US embassy's document saying I make this amount of money monthly thus meeting their min requirement...

Don't worry about it and don't even mention some months more and some months less...it would give them an excuse to deny you.

CB

to use a calculator needs mathematic and electronic skills !!

I had it once, a bill of 60,- - I handed over 100,-

to be correct with the return amount, she used the calculater and returned me exactly 40,- THB :-)) ;

Amizing :-))

[ThaiTerry]

I just received my first retirement extension and on the income verification letter from US Embassy I filled in my income as per month as that is what the form letter space was for. When I checked in the lady handing out numbered line tickets took out her calculator and calculated the amount to Baht and said it was not enough. I looked puzzled then realized she thought it was a yearly amount not a monthly amount. I pointed out it was a per month sum. She smiled and handed me my ticket to get my extension. Same thing with the immigration person. But when I explained it was monthly not yearly approved and on my way.

My guess and only a guess would be you could put down last year's yearly income and divide by 12. If the amount meets the requirements then should have no problem? Just a guess and since it seems everyone has different experiences at immigration just try, be sure to wear a Tie and smile a lot.

Gee, I am glad you told me about the tie. I am on my eighth retirement extension and have never worn long pants to immigration, let alone a tie.

Tried wearing a tie once but it looked stupid with my tee shirt and shorts.

Edited October 27, 2014 by ubonjoe
moved reply from quoted text

[iancnx]

Keep it simple and deposit 800,000 baht.

That's fine, just until they up the amount!

[Laza 45]

I have an OA Multi entry visa.. I have two pensions that add up to 65k.. more or less.. and an investment account in Australia.. I do not keep money in Thailand... to renew my visa I need two things.. a statement with my pension deposits.. ie.. my bank statements with deposits recorded.... and.. a statement from my investment company with the balance of my accounts... this has to be signed by an officer from the Australian Embassy.. I have to front for it.. no internet confirmation... easy.. if you have problems in BKK.. I suggest you try a regional immigration office.. the guys at Sakhon Nakon are great...

[ubonjoe]

I have an OA Multi entry visa.. I have two pensions that add up to 65k.. more or less.. and an investment account in Australia.. I do not keep money in Thailand... to renew my visa I need two things.. a statement with my pension deposits.. ie.. my bank statements with deposits recorded.... and.. a statement from my investment company with the balance of my accounts... this has to be signed by an officer from the Australian Embassy.. I have to front for it.. no internet confirmation... easy.. if you have problems in BKK.. I suggest you try a regional immigration office.. the guys at Sakhon Nakon are great...

How are you getting a OA visa from the embassy or the consulate in Sydney without a police report and a medical certificate. And using financial proof from the Australian embassy in Bangkok.

It think you are truly are getting an extension of stay based upon retirement from immigration and have a multiple re-entry permit.

[mercman24]

reading lots of horror stories about Thailand banks i think the less i keep in any bank in Thailand the better, dont fancy keeping 800,000 in my account, that's a definate no-no. just my pension and enough to keep them happy, that's my tactic.

[mikosan]

As it happens my monthly income from my pension in the UK is in excess of THB 65000, so I am in a slightly different boat, but in any case I add the annual amount of my pension to any investment income and divide by twelve. However, as I am using an Australian passport, all I have to do is sign a statutory declaration at the Aussie Embassy in BKK on which I write whatever my monthly income has worked out at, converted into baht on the day I attend. I always take proof of this income to the Aussie Embassy and to the Immigration office when I apply for my retirement extension, but have never been asked for it.

[MikeN]

lol, you are so right.

I went to get a 'Certificate of Residency' at the UK embassy last week.

The charge ? 3,080 baht - 60 quid. I asked if I could get 2 copies (for car and motorbike licenses) and she said yes, but it would be 6,160 baht.

I don't mind spending money, but I hate being screwed and this one is up there with the best of them. 'Rip Off Britain' at it's finest. Reminded me why I'm here and not there.

I'm still trying to work out where all the tax I pay in the UK goes to. After they've taken it, I still have to pay for most things separately - and the list grows every year.

You can just use a photocopy for the second license application, as long as one is an original. (well, that's what I did at Phra Khanong recently)

[Mango Bob]

For the last few years when I do my extension of stay, I have my letter from the US Embassy and the girl always look at the amount of dollars and then ask me what the exchange rate is.

[maprao]

Americans and Australians should enjoy the ability to 'swear' whatever they wish to in order to get an extension. Chances are the vast majority will be enjoying the prosperity of their endeavours and country's economy and are telling it as it is, but those who don't actually meet the Immigration requirement may soon have a problem. As TIT 'soon' may be tomorrow or never but rumour has it that false declarations are next on the list to be investigated. No links or official statements available - just 'informed' hearsay.

You are obviously not aware of the penalties you make if it is not true at the embassy. Lieing under oath is considered a felony punishable by a prison sentence. when you return to the USA. Not many Americans are willing to lie under these circumstances. It is just an urban myth that "you" are stating here. Very few would do this the same as very few people lock horns with the IRS. our penalties for both are much harsher than the Brit ones!

[Howiehotspur]

I am from the UK and 2 months ago did my 12 month 'extension of stay' ( which some people always call a Retirement Visa, but it isnt ) from my O - A ( Long stay Visa ) that I used for last year. It was simple and easy.

First I applied by post to the British Embassy in Bangkok for an income verification letter. All I supplied was copy bank statements from my UK bank that I printed off on the computer. I am 54 and as of yet havent drawn my pension ( can do this when 55 ). I have a personal account in the UK in my name and a business account ( a limited company ) in the company name. The company owns a number of properties in the UK and the monthly rentals get paid in to the account by Direct Debit. I highlighted these monthly incoming amounts and stated they were my monthly pension. The total exceeded the 65,000 baht per month required for Pension.

The thing to note ( in my opinion ), 1) they accepted funds in a UK account as proof of income 2) they accepted a limited company account that doesnt even mention my name? 3) they accepted money going into my account that technically is not a pension. I personally believe they just want to see evidence that you have the equivalent of 800,000 baht either in Thailand or in your home country at the time you make your application for visa extension.

From sending the application letter to the Embassy ( by EMS mail ) to receiving the Income verification letter back to me was 5 working days. Cost from memory was 2640 baht ( 2500 embassy fee and 140 charge for bank draft and mail fee ).

I then took this letter to Immigration at Jomtien along with the completed TM8 form and various photocopies required and the 1900 baht fee. Done and done in 35 minutes, no questions asked, and told to come back the next day for my passport.

Went back the next day, picked up the passport with Extension of Stay stamp in, immediately then applied for a multi entry permit ( TM7 form i think plus fee 3500 ish, cant remenber exactly ) and 15 minutes later I got passport back and everything done.

Hope my experience helps someone else who wants to do their own visa extension rather than pay some shop 20,000 baht to do it for you. At first I thought it was very difficult and spent a good few hours on this site trawling through the various posts and compiling what to do. In the end it was very very easy, and my great fear of never having enough funds in a Thai bank account or not having a pension yet where found to be unfounded.

. That's very interesting mate , I too am British , and trying to contemplate what action to take , been looking at an ED visa etc , I'm now 55. , but my pension is very small about £440 a month ... I do however have 2 bank accounts both currently ofcourse in the uk , both with about £60k in each .. I want to apply and transfer into a Thai bank account , but ofcourse can only open this in Thailand when I'm there , then I need it in there 3 months , by which time my 3 month visa that it thought I can only get from London will be up ... So are you saying I take my current bank statements to London and apply on the strength that I will be using that money to transfer later and they trust that ? .. If true this will certainly be a good choice of route to take . Cheers

[Tassie Norm]

Hi guys and girls - I am (obviously) only new to this forum however my early observation is that an initial question, despite being addressed, goes off on a tangent. Nothing is wrong with that as the site is a 'forum'. I guess it is up to the individual who asked the initial question to filter the responses - hopefully he sorts the s*** from the clay and achieves his objective viz, a Visa. Lagon