Using foreign currency for 800k THB retirement extension

[Kenny202]

We enquired some time ago about bring AUS $ into a foreign currency account here, equivalent of 1 mill THB to show as funds for my retirement extension. Immigration said no problem and infact said they had many foreigners doing the same thing.

My reasons for doing it this way, apart from the poor ex rate atm is I am better having the money invested back in Aus at a decent interest rate rather than ex my dollars and just leave THB in a bank account here. My plan is to bring the AUS $ into my FCD Bangkok bank account here and after the three months return the AUS $ to Australia to invest again. No ex rate but about $200 fees for deposit and withdrawal. Does anyone know if immigration still ok with this or has anything changed?

[Ronuk]

^{If Immigration said it was ok before, why not contact them again and ask them to confirm the current situation?}

Edited June 5, 2016 by Ronuk

[ubonjoe]

As far as I know there have been no changes. You should though double check with you local immigration to confirm they will allow you to use your FCD account.

No problem from immigration to send the money back to Australia. You will just have to be sure you send it back in time to meet the 3 month requirement for your next extension.

[Evilbaz]

What's the "decent interest rate" back in OZ now ?

With whom?

Kasikorn Bank will give you 2.5% for 9 months here - factor in the transfer fees.

[Colabamumbai]

The most intelligent thing to do is show the equivalent of 65,000 Baht going into an account in your home country, one deposit, one time, show a printout of the funds to your embassy in Bangkok and get a letter for immigration..for your yearly extension. Take the money out the following day if you must.

[ChrisY1]

A letter from the bank on the day showing exchange rate..AUD ---Thb

[ChrisY1]

What's the "decent interest rate" back in OZ now ?

With whom?

Kasikorn Bank will give you 2.5% for 9 months here - factor in the transfer fees.

In Oz now some building societies and a couple of minor banks are offering 3%-3.4% for term deposits.....but it's pretty poor.

I managed to get a 5 year term here at 3% tax free for my annual visa.....from KrungThai.....but not available any longer....just have to keep checking Thai banks for promotions....they have them quite often.

Edited June 5, 2016 by ChrisY1

[jacksam]

The most intelligent thing to do is show the equivalent of 65,000 Baht going into an account in your home country, one deposit, one time, show a printout of the funds to your embassy in Bangkok and get a letter for immigration..for your yearly extension. Take the money out the following day if you must.

That is called fraud. In any event the AU embassy will not wish to view any evidence of monthly income. You do a stat dec. They witness it for about 600baht job done. It is unlikely that Thai immigration will wish to view evidence either.

However a stat dec is a serious doc so placing a deposit of 65k to indicate monthly ongoing income would be making false declaration.

Edited June 5, 2016 by jacksam

[Kenny202]

The most intelligent thing to do is show the equivalent of 65,000 Baht going into an account in your home country, one deposit, one time, show a printout of the funds to your embassy in Bangkok and get a letter for immigration..for your yearly extension. Take the money out the following day if you must.

that would be ok if I had an income or pension but I don't. I just draw down funds from my own Aus account every month. If I'm missing something please PM me

[Kenny202]

What's the "decent interest rate" back in OZ now ?

With whom?

Kasikorn Bank will give you 2.5% for 9 months here - factor in the transfer fees.

getting about 3.2 with U bank. No fixed time, withdraw when you want. They're not the easiest to deal with but once u get them sorted it's ok. Kasikorn sounds ok.

By the way, and all due respect but blokes coming on here issuing commands and demanding answers. A "please" would go a long way to making ur post less rude and aggressive

Edited June 5, 2016 by Kenny202

[Kenny202]

The most intelligent thing to do is show the equivalent of 65,000 Baht going into an account in your home country, one deposit, one time, show a printout of the funds to your embassy in Bangkok and get a letter for immigration..for your yearly extension. Take the money out the following day if you must.

That is called fraud. In any event the AU embassy will not wish to view any evidence of monthly income. You do a stat dec. They witness it for about 600baht job done. It is unlikely that Thai immigration will wish to view evidence either.

However a stat dec is a serious doc so placing a deposit of 65k to indicate monthly ongoing income would be making false declaration.

I assume this needs to be done in person in Bkk?

[Evilbaz]

What's the "decent interest rate" back in OZ now ?

With whom?

Kasikorn Bank will give you 2.5% for 9 months here - factor in the transfer fees.

getting about 3.2 with U bank. No fixed time, withdraw when you want. They're not the easiest to deal with but once u get them sorted it's ok. Kasikorn sounds ok.

By the way, and all due respect but blokes coming on here issuing commands and demanding answers. A "please" would go a long way to making ur post less rude and aggressive

I didn't see any sign of a "Thank you" from you, showing respect for factual information given 555!

[4evermaat]

The most intelligent thing to do is show the equivalent of 65,000 Baht going into an account in your home country, one deposit, one time, show a printout of the funds to your embassy in Bangkok and get a letter for immigration..for your yearly extension. Take the money out the following day if you must.

That is called fraud. In any event the AU embassy will not wish to view any evidence of monthly income. You do a stat dec. They witness it for about 600baht job done. It is unlikely that Thai immigration will wish to view evidence either.

However a stat dec is a serious doc so placing a deposit of 65k to indicate monthly ongoing income would be making false declaration.

USA Embassy also witnesses the signature of the affidavit... No additional docs requiered.

Remember the embassy notary or any notary for that matter only witnesses the signature and the identity of the natural person(s) signing it. They are not responsible for the contents of the documents themselves. Some embassies may request some documentation, but that is purely optional on the part of the official.

[Evilbaz]

Also some Immi offices are asking for backup proof to your sworn affidavit like bank statements, transfers to Thailand etc.

[Kenny202]

What's the "decent interest rate" back in OZ now ?

With whom?

Kasikorn Bank will give you 2.5% for 9 months here - factor in the transfer fees.

getting about 3.2 with U bank. No fixed time, withdraw when you want. They're not the easiest to deal with but once u get them sorted it's ok. Kasikorn sounds ok.

By the way, and all due respect but blokes coming on here issuing commands and demanding answers. A "please" would go a long way to making ur post less rude and aggressive

I didn't see any sign of a "Thank you" from you, showing respect for factual information given 555!

there's the thing.....you believe you deserve my respect? Appreciate your reply but please

[Kenny202]

Say for eg I hadn't religiously sent 65k every month over here, but if I averaged out over the year what I'd transferred to my Thai bank account from Oz, it would average out well over 65k month. Is that ok? I normally tfer a larger lump sum to cover a few months when the baht is more favorable and to save fees.

If the OZ embassy asked me where my income was coming from what could I say? I'm not on a pension and don't have property.

Edited June 5, 2016 by Kenny202

[Kenny202]

Also some Immi offices are asking for backup proof to your sworn affidavit like bank statements, transfers to Thailand etc.

has anyone here actually had this experience?

[Evilbaz]

Yes - me - two years in a row at Phuket Immi.

It seems they don't believe some of the BS Affidavits that have been presented.

Edited June 5, 2016 by Evilbaz

[Kenny202]

Yes - me - two years in a row at Phuket Immi.

It seems they don't believe some of the BS Affidavits that have been presented.

fairy nuff. I don't know what I could tell them or show them? How much proof did they want? Bank tfers or actual proof of income source back home? (Business docs, home rental, pension docs etc)

[Evilbaz]

Income into OZ account - transfers to Thailand.

Ability to withdraw in Thailand - ATM card.

Edited June 5, 2016 by Evilbaz

[TerryLH]

"Say for eg I hadn't religiously sent 65k every month over here, but if I averaged out over the year what I'd transferred to my Thai bank account from Oz, it would average out well over 65k month. Is that ok?"

There is no requirement to actually bring the money here, but there might be questions about what you live on if you don't bring anything.

[jacksam]

Say for eg I hadn't religiously sent 65k every month over here, but if I averaged out over the year what I'd transferred to my Thai bank account from Oz, it would average out well over 65k month. Is that ok? I normally tfer a larger lump sum to cover a few months when the baht is more favorable and to save fees.

If the OZ embassy asked me where my income was coming from what could I say? I'm not on a pension and don't have property.

With respect....you are trying to get around things.

"I don't have a pension or rentals" etc. The 65k income means income as regarded for taxation purposes. If you file a tax return in your home country it will show INCOME. That's not money you just transfer from some existing funds you have from home country. If that were the case you should deposit the 800k into a Thai bank account. You don't want to do that then obtain a non OA in own country. Show funds in home account. Or make false stat dec re funds at embassy here in los.

If io asks for proof (unlikely) then go back to plan A and B .

[Kenny202]

I think I'll just do the FCD thing. It's legal and only cost me a few hundred in tfer fees and a bit of lost interest. It's my first extension so only need the money in the bank for 2 months.

A couple of other questions...

How much is the actual IO fee for extension?

How early before my stay until date can I apply for extension? (45 days?)

Should I one day marry. Do I stay on my OA visa and next extension I extend on basis of marriage or do I need a whole new type of visa?

Thanks all for your help

[Goethe]

I request and receive a letter from my stock broker in Canada every year confirming my monthly withdrawal to supply my income in Thailand. I take this to the Canadian Embassy in Bangkok, fill out a form stating my monthly income, swear that it is true and they issue a verification of income letter.

When I asked the diplomatic agent if the letter from my stock broker was necessary, since in the Embassy I have to fill out a form stating my income and swear to it, she replied: "Yes, in case Thai Immigration ever has any questions."

[merijn]

Yes - me - two years in a row at Phuket Immi.

It seems they don't believe some of the BS Affidavits that have been presented.

Correct, Phuket Imm will sometimes ask for proof specially when US affidavits are used.

It depends on the officer and situation.

[Liquorice]

I think I'll just do the FCD thing. It's legal and only cost me a few hundred in tfer fees and a bit of lost interest. It's my first extension so only need the money in the bank for 2 months.

A couple of other questions...

How much is the actual IO fee for extension?

How early before my stay until date can I apply for extension? (45 days?)

Should I one day marry. Do I stay on my OA visa and next extension I extend on basis of marriage or do I need a whole new type of visa?

Thanks all for your help

The fee for an extension of stay based on retirement or marriage is 1,900 baht.

Usually 30 days before, but some offices will do the extension 45 days before.

(Stating which office you report to will help)

Your Visa ends once you get an extension.

They extend your permission to stay, not your Visa.

Once on an extension you will need a re-entry permit to allow for travel outside of Thailand.

[Kenny202]

I think I'll just do the FCD thing. It's legal and only cost me a few hundred in tfer fees and a bit of lost interest. It's my first extension so only need the money in the bank for 2 months.

A couple of other questions...

How much is the actual IO fee for extension?

How early before my stay until date can I apply for extension? (45 days?)

Should I one day marry. Do I stay on my OA visa and next extension I extend on basis of marriage or do I need a whole new type of visa?

Thanks all for your help

The fee for an extension of stay based on retirement or marriage is 1,900 baht.

Usually 30 days before, but some offices will do the extension 45 days before.

(Stating which office you report to will help)

Your Visa ends once you get an extension.

They extend your permission to stay, not your Visa.

Once on an extension you will need a re-entry permit to allow for travel outside of Thailand.

khon kaen office. Thanks for Ur reply

[Suradit69]

Remember the embassy notary or any notary for that matter only witnesses the signature and the identity of the natural person(s) signing it. They are not responsible for the contents of the documents themselves. Some embassies may request some documentation, but that is purely optional on the part of the official.

At the US Embassy you're completing an embassy supplied affidavit, not simply asking them to witness/notarize your signature. The affidavit amounts to an oath and you are asked verbally if the information supplied is true and accurate.

The affidavit includes the following and the officer who signs and stamps it certifies that the contents were sworn to:

I also affirm that I receive USD $ ________________ every month from the United States Government and/or other sources. I am applying for a Thai visa/ or extension of a current Thai visa and any assistance you can provide in this request will be greatly appreciated.

Subscribed and sworn to before me this date:

Income Affidavit

The Thai government requires all U.S. citizens with Thai retirement visas to verify their income when they renew their retirement visa annually. Please print out this income affidavit (PDF 23KB) form to complete by hand or complete this income affidavit online then print it out. Please remember not to sign the form before you come to the American Citizen Services Unit. You will need to sign it in front of a designated officer.

af·fi·da·vit

a written statement confirmed by oath or affirmation, for use as evidence in court.

[JLCrab]

And to the above, note the words every month not on average or some months but not others or my annual income divided by 12, etc.

[Colabamumbai]

The most intelligent thing to do is show the equivalent of 65,000 Baht going into an account in your home country, one deposit, one time, show a printout of the funds to your embassy in Bangkok and get a letter for immigration..for your yearly extension. Take the money out the following day if you must.

That is called fraud. In any event the AU embassy will not wish to view any evidence of monthly income. You do a stat dec. They witness it for about 600baht job done. It is unlikely that Thai immigration will wish to view evidence either.

However a stat dec is a serious doc so placing a deposit of 65k to indicate monthly ongoing income would be making false declaration.

No fraud about it the embassy and immigration both want to see a printout of one month.