Income requirement for Retirement (Extension of Stay) renewal

[craigt3365]

Post removed referencing an illegal activity and in violation of forum rules.

18 U.S. Code § 1001 - Statements or entries generally

(a) Except as otherwise provided in this section, whoever, in any matter within the jurisdiction of the executive, legislative, or judicial branch of the Government of the United States, knowingly and willfully—

(1) falsifies, conceals, or covers up by any trick, scheme, or device a material fact;

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shall be fined under this title, imprisoned not more than 5 years or ...

Well put. Also remember, Thai authorities do peruse this forum from time to time. So I removed the post you are quoting.

Last time I got my income verification they asked if what I stated was true and reiterated the law you mention for providing false info. And the penalties.

[pendingo]

I have renewed my marriage visa extension for the third time now at Chiang Mai Immigration office and not once have they suggested I change to a retirement visa/extension even though I am 68 years old.

My thinking is that they would only suggest this if my pension was well over the 65K Baht requirement.

How many members on this forum renew their marriage visa extension at the Chiang Mai office and how many have been asked/advised to change it to a retirement visa/extension?

Just curious as so far I have had no problems.

[Monkeyrobot]

The 800B has to be in the account for 90 days prior. After you have your extension you can draw on it ,just remember to top it up next year to 800 again 90 days before you extend again. You can also get a high interest account depending on the bank. Most allow 2 withdraws a month. I have two accounts the high interest and the everyday account , I just transfer to the every day account once a month and then have a ATM card linked to it. I also a SMS alert when withdrawals Over 5000B are made from the ATM , very handy.

[mango66]

Since you are married to a Thai national, you only need 400k baht in the bank not 800k.

Also if you want to use your pension instead of money in the bank, just go to the US consulate and sign and affidavit that you get 65k baht a month pension.

Foul.

The OP said his income is under that.

This is not the place to counsel people to lie to their consulate and Thai immigration.

A person with an income stream can indeed use the COMBO method.

This mixes his pension and Thai bank account to total at least 800K.

Using this method, no bank account seasoning is required.

For example:

Pension 500K annually (get letter from consulate)

Money in Thai Bank account, at least 300K

Total of sum, at least 800K

This is a very common way to qualify. Immigration will be very familiar with it.

sounds very comfortable - no seasoning,

will this wirk also for 400.000,- for a child dependant extension -

( for example 300.000,- ipension, 100.000,- on the account, not seasoned ?? )

Thanks

[mango66]

If you can afford it just put the 800k into a fixed term account and leave it. Make sure you renew the term a little over 3 months (or more) before your next Extension is due. That way you have a decent "nest egg" set aside for emergencies and less stress about trying to meet the financial requirements of future Extensions. The interest you'll earn isn't great but it beats screwing up your Extension because of an "oops" that left your main account under the 800k level for a day or two. I've never had a problem (4 Extensions so far) with the fact the money has sat, untouched, in a Fixed Term account. My pension isn't that great so I don't even bother using it towards doing the "combo" method as it would just complicate things.

I've never done an Extension for Marriage, but as I noted in another thread, just did my Retirement Extension a couple days ago. Took an hour and 10 minutes total (over 2 days) for the Extension, Multi-Entry permit and 90 Day report. Simple, quick and easy (at Jomtien at least - results will vary in other locations). I then went to the bank (Bangkok Bank) and renewed the Fixed Term deposit so I'm pretty much set for next year already (hence the "less stress").

you mention " fixed term deposite "

mustn'tit be a free deposit - daylie accesible for Visa puposes ??

[Mario2008]

Since you are married to a Thai national, you only need 400k baht in the bank not 800k.

Also if you want to use your pension instead of money in the bank, just go to the US consulate and sign and affidavit that you get 65k baht a month pension.

Foul.

The OP said his income is under that.

This is not the place to counsel people to lie to their consulate and Thai immigration.

A person with an income stream can indeed use the COMBO method.

This mixes his pension and Thai bank account to total at least 800K.

Using this method, no bank account seasoning is required.

For example:

Pension 500K annually (get letter from consulate)

Money in Thai Bank account, at least 300K

Total of sum, at least 800K

This is a very common way to qualify. Immigration will be very familiar with it.

sounds very comfortable - no seasoning,

will this wirk also for 400.000,- for a child dependant extension -

( for example 300.000,- ipension, 100.000,- on the account, not seasoned ?? )

Thanks

No, only in case of retirement can the income and money in the bank be combined.

[Mario2008]

If you can afford it just put the 800k into a fixed term account and leave it. Make sure you renew the term a little over 3 months (or more) before your next Extension is due. That way you have a decent "nest egg" set aside for emergencies and less stress about trying to meet the financial requirements of future Extensions. The interest you'll earn isn't great but it beats screwing up your Extension because of an "oops" that left your main account under the 800k level for a day or two. I've never had a problem (4 Extensions so far) with the fact the money has sat, untouched, in a Fixed Term account. My pension isn't that great so I don't even bother using it towards doing the "combo" method as it would just complicate things.

I've never done an Extension for Marriage, but as I noted in another thread, just did my Retirement Extension a couple days ago. Took an hour and 10 minutes total (over 2 days) for the Extension, Multi-Entry permit and 90 Day report. Simple, quick and easy (at Jomtien at least - results will vary in other locations). I then went to the bank (Bangkok Bank) and renewed the Fixed Term deposit so I'm pretty much set for next year already (hence the "less stress").

you mention " fixed term deposite "

mustn'tit be a free deposit - daylie accesible for Visa puposes ??

You must be able to withdraw money from the account, so a true fixed term account from which you cannot withdraw any money is not allowed. But many banks have fixed accounts allowing you to withdraw the money early, you just don't receive any interest on it. That kind of account is allowed.

[IMA_FARANG]

I know some people on this topic already are aware of this, but I'll say it again just in case.

It is possible to do a "combo" method for a "retirement" extension to get your total income above 800K annually.

But when doing a "marriage" extension that same "combo" method is not allowed.

For a marriage extension the choices are only:

1. 400K Baht in a Thai bank account in your name. .......... OR
2. An income of 40K Baht or equivalent per month (i.e.monthly)

There is no "combo" allowed if the application is for a :marriage" extension.

[Mudcrab]

One thing that needs to be considered before depositing 800k in a Thai bank account is the interest eaned and the security of the funds.

I am an Australian living here on a retirement visa and it is better for me to have my cash invested in Australia at about 3% and the interest contributes to the 65k per month income requirement.

Sure, I have to go to my embassy in BKK annually and pay the thieves 800THB for the one page declaration document in which I clearly (and truthfully) state my income exceeds the 65k per month plus I also have more than the $800k in assets (effectively doubling up on the Thai requirements) and that seems acceptable to Thai Immigration........ For now. Ha ha!

Worst thing is I am forced to spend the night in BKK and it's horrible. Rather, my head is horrible, the next day.

Good luck OP.

Since when has having 800k in assets been a consideration when applying for an extension?

[Traveling Sailor]

Great answers....thanks. The wife is Thai but is a US citizen. Also, I don't meet the 65K per month pension.

Thai Immigration requires you to show either/or/combination. I'm an American on a retirement extension. Depending on the exchange rate, my monthly income meets the requirement or not. I keep a small reserve in another account, just in case the exchange rate dips too low. 65K THB per month (the monthly income requirement) works out to 780K per year. Immigration requires 800K per year. So, if your monthly income is say, 50K a month, to be on the safe side, you would need to have 200K in another bank account.

I hope this helps.

[Jingthing]

The 800B has to be in the account for 90 days prior. After you have your extension you can draw on it ,just remember to top it up next year to 800 again 90 days before you extend again. You can also get a high interest account depending on the bank. Most allow 2 withdraws a month. I have two accounts the high interest and the everyday account , I just transfer to the every day account once a month and then have a ATM card linked to it. I also a SMS alert when withdrawals Over 5000B are made from the ATM , very handy.

To add, the retirement money seasoning requirements are actually as follows:

Combo method -- none

800K in bank method -- TWO months first extension, THREE months subsequent ones

Change of status from 30 day stamp or tourist visa to 90 day O visa for a later retirement extension application using 800K -- none but the money needs to be seasoned for two months at the later time of FIRST retirement extension application

Remember, you DO need an O visa in your passport to start getting retirement extensions in Thailand. The O visa and the retirement extensions are different things.

I am mentioning O visas here as I noticed the OP does not explain his plans regarding that. Does he plan on getting an O-A visa in the U.S.? Then he is a long way away from worrying about retirement EXTENSIONS.

Does he plan on getting a single entry (90 day) O visa if possible from a friendly consulate in the U.S.? Does he plan in getting a single entry O visa from Malaysia or Laos? Or does he plan on doing a change of status application (from 30 day stamp or tourist visa) to a 90 day stay O visa IN Thailand?

Edited May 30, 2015 by Jingthing

[khunPer]

Seems, from reading various treads and posts, like it’s easier to get and renew extension on retirement basis than marriage, so if you can afford the 800k baht deposit, that may be the simplest way.

Agree with above posters about 2 bank accounts. I stay here on extensions based on retirement and have one fixed deposit (better interest) for 800k baht, and another normal savings account for daily use, i.e. money transferred in from abroad and withdrawals. Use both accounts in the bank letter verification for extension, and show both accounts, so the immigration officer easily can see the 800k has seasoned long enough and that I have some flow of money for my living costs, i.e. not working illegal.

Only once I had a problem, when an immigration officer said, my money had hardly seasoned 3 month – missed about a week – I had to make him aware of the year in the date, then he laughed and stamped my passport...

Often you can find offers for accounts on fixed terms like 11 or 15 month offering a better interest than a plain 12-month ongoing fixed account. If you don’t mind the hassle of moving money – be aware of the 3-month seasoning – you should be able increase your interest with some 50 percent or more over the basic 12-month rate; better to have 18-28k interest than 12-15k.

[Jingthing]

Again, this OP has a PENSION!

He does not need 800K in the bank for his retirement extensions.

All he needs in the Thai bank is the amount that adds up to a bit over 800K when added to his ANNUAL pension income.

For example, suppose his pension is 550K baht annually. Then all he would need is 250K in the bank plus a safety margin to deal with exchange rate fluctuations on the income portion.

Edited May 30, 2015 by Jingthing

[bob009]

Better to combine the Pension + Bank account to meet the requirement for the retirement Visa as less paperwork. If you go for the marriage one far more paperwork and they want you to jump through hoops.

[Bruzzzz]

One thing that needs to be considered before depositing 800k in a Thai bank account is the interest eaned and the security of the funds.

I am an Australian living here on a retirement visa and it is better for me to have my cash invested in Australia at about 3% and the interest contributes to the 65k per month income requirement.

Sure, I have to go to my embassy in BKK annually and pay the thieves 800THB for the one page declaration document in which I clearly (and truthfully) state my income exceeds the 65k per month plus I also have more than the $800k in assets (effectively doubling up on the Thai requirements) and that seems acceptable to Thai Immigration........ For now. Ha ha!

Worst thing is I am forced to spend the night in BKK and it's horrible. Rather, my head is horrible, the next day.

Good luck OP.

Since when has having 800k in assets been a consideration when applying for an extension?

If you paid any attention to what I posted you would have noticed that I am stating what I do to successfully obtain a retirement visa. I do not claim to know all the intricacies, rules, regulations and momentary whims of Thai Immigration officials. Do you??

My advice to the OP is how to get the result he seeks and if a dozen extra words on a statutory declaration get it done then so what?

How bizarre that you wrote more words, than I add to my statutory declaration regarding my assets, just to critize my post. Is negativity your amusement?

[SpokaneAl]

One thing that needs to be considered before depositing 800k in a Thai bank account is the interest eaned and the security of the funds.

I am an Australian living here on a retirement visa and it is better for me to have my cash invested in Australia at about 3% and the interest contributes to the 65k per month income requirement.

Sure, I have to go to my embassy in BKK annually and pay the thieves 800THB for the one page declaration document in which I clearly (and truthfully) state my income exceeds the 65k per month plus I also have more than the $800k in assets (effectively doubling up on the Thai requirements) and that seems acceptable to Thai Immigration........ For now. Ha ha!

Worst thing is I am forced to spend the night in BKK and it's horrible. Rather, my head is horrible, the next day.

Good luck OP.

Since when has having 800k in assets been a consideration when applying for an extension?

He is purely using the income method, via the required documentation from his embassy to obtain his extension of stay based on retirement. He was pointing out that by using the income method, he could keep his money invested in his home country as opposed to depositing it in a Thai bank.

[louse1953]

Yes the combo method requires getting an income letter from the U.S. consulate each year. I think it would be worth it if it means the Thai bank account can be much smaller than 800K, as it appears to be in this case.

I'd rather have money in BB fixed deposit,than a visit to my embassy.Plus the 900 k round trip to Bangers,plus stay overnight.

[louse1953]

One thing that needs to be considered before depositing 800k in a Thai bank account is the interest eaned and the security of the funds.

I am an Australian living here on a retirement visa and it is better for me to have my cash invested in Australia at about 3% and the interest contributes to the 65k per month income requirement.

Sure, I have to go to my embassy in BKK annually and pay the thieves 800THB for the one page declaration document in which I clearly (and truthfully) state my income exceeds the 65k per month plus I also have more than the $800k in assets (effectively doubling up on the Thai requirements) and that seems acceptable to Thai Immigration........ For now. Ha ha!

Worst thing is I am forced to spend the night in BKK and it's horrible. Rather, my head is horrible, the next day.

Good luck OP.

Since when has having 800k in assets been a consideration when applying for an extension?

If you paid any attention to what I posted you would have noticed that I am stating what I do to successfully obtain a retirement visa. I do not claim to know all the intricacies, rules, regulations and momentary whims of Thai Immigration officials. Do you??

My advice to the OP is how to get the result he seeks and if a dozen extra words on a statutory declaration get it done then so what?

How bizarre that you wrote more words, than I add to my statutory declaration regarding my assets, just to critize my post. Is negativity your amusement?

After you have been on TVF a bit longer you will realise that negativity is one of the main games here.But the most important info is correct info and your asset comment is certainly not correct,what ever you may think of filling up a form with bs.

[Jingthing]

Yes the combo method requires getting an income letter from the U.S. consulate each year. I think it would be worth it if it means the Thai bank account can be much smaller than 800K, as it appears to be in this case.

I'd rather have money in BB fixed deposit,than a visit to my embassy.Plus the 900 k round trip to Bangers,plus stay overnight.

Well, then, bully for you , but I have been posting here to provide information to the OP.

The OP will be living in CHIANG MAI.

There is a U.S. consulate there where he can get his annual income letters, if he chooses to use the combo method for retirement extensions.

http://chiangmai.usconsulate.gov/

[Issanman]

Get the O-A visa from the Royal Thai Embassy in D.C. and you will be able to stay nearly two years and not have to show any money in a Thai bank during that time. The money in your US account will meet the money qualification for the O-A "long-stay" visa, also called a retirement visa by some people.

You will need to provide a doctors report and a police report but both were very easy to get, in my case. I know some have stated that they had problems going that route.

[jackanapes]

the requirement is 800 thousand in the bank or 65thousand coming in every month on your yearly visit you need a statement from the bank and your bank book showing the 800 thousand baht it would be a good idea to have 2 accounts the second one showing an income .

[jpinx]

Are we done about this yet?

[Jingthing]

the requirement is 800 thousand in the bank or 65thousand coming in every month on your yearly visit you need a statement from the bank and your bank book showing the 800 thousand baht it would be a good idea to have 2 accounts the second one showing an income .

Not exactly.

There are three options for retirement extensions, not just the two you mentioned.

Bank method -- 800K in Thai bank, seasoned for two months first extension, three for subsequent ones.

There is no annual requirement to import any of this money. Some people just keep that account static and many others spend from it during the year and TOP IT UP in time for the next money seasoning period.

Income method -- 65K monthly income shown with embassy or consulate letter. This money does NOT need to be imported into Thailand annually. Not even one baht of it.

Combo method -- a combination of (unseasoned) money in Thai bank account plus sum of annual income (shown with letter as above)

Edited May 31, 2015 by Jingthing

[Jingthing]

Are we done about this yet?

Doubtful.

[Jingthing]

Get the O-A visa from the Royal Thai Embassy in D.C. and you will be able to stay nearly two years and not have to show any money in a Thai bank during that time. The money in your US account will meet the money qualification for the O-A "long-stay" visa, also called a retirement visa by some people.

You will need to provide a doctors report and a police report but both were very easy to get, in my case. I know some have stated that they had problems going that route.

That's one option.

I don't believe the OP has told us yet what his plan is for an O visa (or O-A) or perhaps he has one in his passport already.

[Jaggg88]

I have renewed my marriage visa extension for the third time now at Chiang Mai Immigration office and not once have they suggested I change to a retirement visa/extension even though I am 68 years old.

My thinking is that they would only suggest this if my pension was well over the 65K Baht requirement.

How many members on this forum renew their marriage visa extension at the Chiang Mai office and how many have been asked/advised to change it to a retirement visa/extension?

Just curious as so far I have had no problems.

I agree. If your monthly earnings dont exceed 65000 then why would they encourage you to change to a retirement extension. I suspect they do this as an extension based on retirement is less paperwork for them so if you earn over 65000 a month they want you to change. If the OP's military pension exceeds 40000 a month he could apply for a marriage extension and not worry about bank accounts, as Ubonjoe suggested.

[ceroc]

last year when applying for my retirement visa, I made the mistake of having the 800,000B in a joint savings account. This year to avoid having to get a proof of income letter from the British embassy, I have put the 800,000B in a fixed deposit account in my name whilst retaining a separate joint savings account. Do you think this is acceptable or do I still also need a savings account in my name only?

[nowretired]

last year when applying for my retirement visa, I made the mistake of having the 800,000B in a joint savings account. This year to avoid having to get a proof of income letter from the British embassy, I have put the 800,000B in a fixed deposit account in my name whilst retaining a separate joint savings account. Do you think this is acceptable or do I still also need a savings account in my name only?

As long as the "fixed" deposit account is in your name only and it allows instant on demand access to the cash there should be no problem . There is no need to reveal any other accounts to immigraation.

[TallGuyJohninBKK]

Combo method -- a combination of (unseasoned) money in Thai bank account plus sum of annual income (shown with letter as above)

FWIW, last time I spoke in person with an Immigration supervisor in BKK, they advised that BKK Immigration is demanding that combo method bank deposit funds for a retirement extension be seasoned for 3 months.

Others here have been given the same requirement at BKK Immigration, though I'm certainly aware that seasoning requirement isn't a nationwide Immigration policy, AFAIK.

As with many things, a lot can depend on which particular Immigration office you're dealing with.

In comparison, the combo method isn't available at all for marriage extensions -- only bank deposit OR monthly income.