Aussie retirement questions for 50 year old

[iamkanga]

Hi all

I am sure these questions probably get asked adnorseum but I haven't been able to find specific answers.

1 Can I use rental income against my 80000/65000 Baht a month and what exactly is "embassy affidavit" about your income being at least 65,000 Bt a month and would rental property work with this?

2 How much is the annual extension and is it currently ongoing year on year?

3 Can I exit and enter the country freely and is there a period of time I am required to stay in Thailand over that year to satisfy the visa?

I already have money in a Thai bank but would prefer not to "have to" keep money in Thailand should I choose not to.

Any other tips for someone beginning the process greatly appreciated.

Cheers

Kanga

[Mario2008]

1. Yes. If your income comes from abroad you proof it with a letter from your embassy that confirms your income. The embassy decides what they will accept as proof. In case of Australia it is an affidavit in which you swear your income is XXXXXX a month.

2. Extensions are 1,900 baht a year.

3. You can go out freely, but for that you need a re-entry permit at a cost of 1,000 baht (single) or 3,800 baht multiple. The re-entry permit is only valid for the current permission to stay. In otherwords you must be back in Thailand before your permission to stay ends.

[IMA_FARANG]

1. Yes. If your income comes from abroad you proof it with a letter from your embassy that confirms your income. The embassy decides what they will accept as proof. In case of Australia it is an affidavit in which you swear your income is XXXXXX a month.

2. Extensions are 1,900 baht a year.

3. You can go out freely, but for that you need a re-entry permit at a cost of 1,000 baht (single) or 3,800 baht multiple. The re-entry permit is only valid for the current permission to stay. In otherwords you must be back in Thailand before your permission to stay ends.

Mario2008 is correct, but just to make it clearer, you're retirement extension is granted for a period of one year and renewable yearly.

At each annual renewal, you will need to show the financial requirements again as you did at the initial extension.

So, at each annual renewal you will need to show the money in the bank for a period of three months to get that annual renewal (if you choose that method). Outside of that you can use the money for expenses, just as long as you have funds available for your annual renewal as I just said.

If you want to leave and return to Thailand more than one or two times during that year's extension, then the best cost effective re-entry permit is a multi entry permit for 3800 Baht, which will allow you unlimited exits and re-entries in that one year renewal period.

[Xircal]

Just to add an important note which the other posters appear to have omitted and that is that you're still required to report to immigration every 90 days to verify your current address.

This site might be useful to you:

Edited January 25, 2015 by Mario2008
link containing wrong info removed

[watcharacters]

1. Yes. If your income comes from abroad you proof it with a letter from your embassy that confirms your income. The embassy decides what they will accept as proof. In case of Australia it is an affidavit in which you swear your income is XXXXXX a month.

2. Extensions are 1,900 baht a year.

3. You can go out freely, but for that you need a re-entry permit at a cost of 1,000 baht (single) or 3,800 baht multiple. The re-entry permit is only valid for the current permission to stay. In otherwords you must be back in Thailand before your permission to stay ends.

And I'd just add that if he chooses to go for the single 1,000 THB re-entry option and forgets to do it on any given exit from the country, he begins the entire process again from scratch upon his re-entry to Thailand. I personally just opt for the 3800 THB model which avoids that potential pitfall and eliminates having to deal with immigration more than absolutely necessary. But to each his own..

[Mario2008]

1. Yes. If your income comes from abroad you proof it with a letter from your embassy that confirms your income. The embassy decides what they will accept as proof. In case of Australia it is an affidavit in which you swear your income is XXXXXX a month.

2. Extensions are 1,900 baht a year.

3. You can go out freely, but for that you need a re-entry permit at a cost of 1,000 baht (single) or 3,800 baht multiple. The re-entry permit is only valid for the current permission to stay. In otherwords you must be back in Thailand before your permission to stay ends.

And I'd just add that if he chooses to go for the single 1,000 THB re-entry option and forgets to do it on any given exit from the country, he begins the entire process again from scratch upon his re-entry to Thailand. I personally just opt for the 3800 THB model which avoids that potential pitfall and eliminates having to deal with immigration more than absolutely necessary. But to each his own..

Not sure you understand the difference between a single and a multiple re-entry permit. They have the same validity, which is till the end of the current permission to stay. Only a single is of course good for 1 time leaving and returning during your current permission to stay and a multiple is good for unlimited times during your current permission to stay.

[Litlos]

To add a few of my experiences.

Take all your data to the Australian embassy in Bangkok who will the say fill out this Statutory declaration for us with all the relevant statements, charge you some over the top fee and probably not bother to look at your data. Never done a statement of earnings, but this was exactly what they did for proof of residence, relying on you being truthful in the Stat Dec and then charging a fee to stamp it. Realistically any regular earnings are probably included in the statement, but be aware the Aust dollar is falling against the Thai Baht, so maybe this time OK, but if tight may have problems next time.

Something I have recently found is that you can get single and multiple re-entries at the airport for an extra fee of 200Baht. Let me see 3 hours hanging around Chaeng Wattana for a re-entry or do at the airport for 200 Baht extra. I went the airport way as was to late in the day to get at CW by the time immigration had finished with me.

You will need to ensure the funds are back in the Thai bank 3 months before renewing the Extension to meet the rules on 'Salting". I get about 3% on my funds through Krungsri, so not so bad. Apparently the financials can also be a mix of in Thailand banks and certified income.

Cheers

[Suradit69]

To add a few of my experiences.

Take all your data to the Australian embassy in Bangkok who will the say fill out this Statutory declaration for us with all the relevant statements, charge you some over the top fee and probably not bother to look at your data. Never done a statement of earnings, but this was exactly what they did for proof of residence, relying on you being truthful in the Stat Dec and then charging a fee to stamp it. Realistically any regular earnings are probably included in the statement, but be aware the Aust dollar is falling against the Thai Baht, so maybe this time OK, but if tight may have problems next time.

Something I have recently found is that you can get single and multiple re-entries at the airport for an extra fee of 200Baht. Let me see 3 hours hanging around Chaeng Wattana for a re-entry or do at the airport for 200 Baht extra. I went the airport way as was to late in the day to get at CW by the time immigration had finished with me.

You will need to ensure the funds are back in the Thai bank 3 months before renewing the Extension to meet the rules on 'Salting". I get about 3% on my funds through Krungsri, so not so bad. Apparently the financials can also be a mix of in Thailand banks and certified income.

Cheers

"to meet the rules on 'Salting". "

Interesting cooking-related variation on the usual term "seasoning" when it comes to maintaining a bank balance for 3 months.

Always thought to " salt away" meant to keep something safe from deterioration ... as preserving meat using salt ... rather than keeping it for a set period of time.

[TPI]

I've been doing this for about 15 years soooo here goes! Income is money you have to spend from sources outside the country therefore the money you make from rentals are a legit source! When you fill out the stat dec. in the embassy all you need to put is your name, your address in Thailand, The amount of aud and the aud converted to Thai Baht (26:1 is about right), the source of your money (Property leases), a copy of your bank statement showing the regular imput of the money (to confirm your statement. The embassy doesn't need it although the Immigration Dept. will ask for it, don't forget to sign it!). It's best to pay for the multiple entry stamp, its good to be able to leave and come back when you choose!

Pay the charge, it's not much and the people are generally nice.

good luck Happy Australia day!!!! Up the old red rooster!