Financial requirements for extension of stay reason retirement

[luciferbkk]

Hi, it's hardly a new topic but I can't find the relevant information for this. I'm German, not married to a Thai woman and currently on an extension of stay, reason retirement, that I obtained with 800,000 baht in a Thai bank. I have to renew my extension of stay in August and would like to use the combined method of income and money in the bank. I believe in this case the money doesn't have to be seasoned for 3 months. Is this correct and where can I find the official info on this? Does the statement of monthly income issued by the German embassy have to be certified by the Ministry of Foreign Affairs?

Thanks for your help.

[ubonjoe]

The written rules do not mention the 3 months in the bank for the combination method but many offices want it to be in the bank for 3 months.

Unless you are using one of the 2 or 3 offices that want the signature on  the income doucment certified by the MFA you will not need it to be done.

[luciferbkk]

Thank you, ubonjoe. As helpful as ever. Kudos to you!

[ozgolfguy]

Would appreciate clarity on the combined method of income and money in the bank, is it a simple formula of meeting the 800K total?

Example would be 400K in the bank (for 3 months prior) and 35K monthly income (12 x 35K = 420K) or any combination thereof? Thanks

[Kabula]

 The following was copied today off the Thai Immigration District one website. 

 

22. Question : What is the required age of the alien wisthing to stay in Thailand with the reason of Retirement?

Answer : For reasons to stay of Retirement, the alien must be 50 year of age or older and must have been granted a Non-Immigrant visa, firstly. More over, the said alien must have evidences to verify his/her financial status of not less than 65,000 Baht per month or 800,000 Baht per year. Evidences showing financial support are as follows;        1.  In case of having money in the bank account (Saving/Fix deposit) of any bank located in Thailand.        -  The updated bank passbook on the date of application submission showing money in the account of not less than 800,000 Baht which has been deposited and consecutively held of such amount for 3 months. ( Except the first application for this reason, that such amount should be deposited and held for 60 days)      -  Letter from the bank certified the current account in the bank of not less than 800,000 Baht; or          2.2  In case of having any other income from abroad such as pension, social welfare      -  Letter from the applicant’s Embassy or consulate in Thailand verifying their pension or other income of the applicant which must not be less than 65,000 Baht per month. Or;         2.3  In case of a combination of having money in the bank account and income from pension, with total amount of not less than 800,000 Baht per year, the required documents are the same as mentioned in 2.1and 2.2

23. Question : For retirement reason, In case of not enough money in the bank account as required, is it possible to combine the monthly income in order to reach the total required amount.

Answer :  Yes. The money in The bank account in Thailand could be combined with The monthly income to reach the total required amount of 800,000 Bath per year.

24. Question : For retirement reason for extension of temporary stay, could the foreign husband and wife have their combined name of the bank account as evidence?

Answer : No, the name in the bank account must be only the name of the applicant individually.

 

[Suradit69]

44 minutes ago, ozgolfguy said:

Example would be 400K in the bank (for 3 months prior) and 35K monthly income (12 x 35K = 420K) or any combination thereof?

Yes, but remember the calculation of the monthly 35k from a foreign source will depend on the exchange rates at the time of application.  You might want to hold a bit extra in the bank in case of a shift in the exchange rate used. It would be very frustrating to see the total come to Baht 799.000 because of some unanticipated political event causing a short-term drop in rates for your home currency.

[aslimversgwm]

54 minutes ago, ozgolfguy said:

Would appreciate clarity on the combined method of income and money in the bank, is it a simple formula of meeting the 800K total?

Example would be 400K in the bank (for 3 months prior) and 35K monthly income (12 x 35K = 420K) or any combination thereof? Thanks

Yes any combo as long as it equates to 800k

[bazza73]

I have the 800,000 baht which is basically on permanent term deposit with Bangkok Bank. Four extensions thus far, so being on term deposit doesn't seem to be a problem. I get a part pension from Australia which is very close to the minimum, 35750 baht/month. I also average about 50,000 baht a month from investments, but I assume that doesn't count.

Do I have to get a statement from the consulate every year concerning my pension, or is once enough? It would be nice to have less capital tied up that's producing a 1.5% return.

[ubonjoe]

7 minutes ago, bazza73 said:

I have the 800,000 baht which is basically on permanent term deposit with Bangkok Bank. Four extensions thus far, so being on term deposit doesn't seem to be a problem. I get a part pension from Australia which is very close to the minimum, 35750 baht/month. I also average about 50,000 baht a month from investments, but I assume that doesn't count.

Do I have to get a statement from the consulate every year concerning my pension, or is once enough? It would be nice to have less capital tied up that's producing a 1.5% return.

If you have income from investments that you can prove that can also be used for the 65k baht income requirement. The combination of it with your pension is enough to apply for the extension

You will need to do a statutory declaration at the embassy every year to prove your income. Immigration will accept one that is up to 6 months old which allows your to plan the trip to get  to when  it is more convenient.

[bazza73]

Just now, ubonjoe said:

If you income from investments that you can prove that can also be used for the 65k baht income requirement. The combination of it with your pension is enough to apply for the extension

You will need to do a statutory declaration at the embassy every year to prove your income. Immigration will accept one that is up to 6 months old which allows your to plan the trip to get  to when  it is more convenient.

Thank you Ubon Joe

[virgomjh]

1 hour ago, ubonjoe said:

If you have income from investments that you can prove that can also be used for the 65k baht income requirement. The combination of it with your pension is enough to apply for the extension.

Am I correct in saying that the income used as evidence for this purpose must be inwardly transmitted from abroad and that rental income generated from an investment property in Thailand cannot be used for proof of income for an extension application? This is mainly relevant for the 50+ group who have investments in Thailand but do not have pension income to transfer over.

[bazza73]

1 hour ago, virgomjh said:

Am I correct in saying that the income used as evidence for this purpose must be inwardly transmitted from abroad and that rental income generated from an investment property in Thailand cannot be used for proof of income for an extension application? This is mainly relevant for the 50+ group who have investments in Thailand but do not have pension income to transfer over.

Good question. Both my pension income and investment income accumulate in Australia, and I periodically transfer lump sums to a Thai bank.

My bank book shows the minimum transfer occurred in 2015, when I transferred 1.243 million baht in = 100,000 baht per month.

Is this sufficient, or do I have to demonstrate a monthly flow of funds from overseas? Or would this be at the discretion of the Australian consulate as a letter of income?

[virgomjh]

1 hour ago, bazza73 said:

Good question. Both my pension income and investment income accumulate in Australia, and I periodically transfer lump sums to a Thai bank.

In your case, your incomes are being generated overseas, so can potentially be used for an extension application. My question was whether rental income from Thai property investments could be used to meet the B65k income requirement, or must the income have been generated overseas for it to be acceptable? It is relevant in my case because I am considering investing funds in Thai property and was wondering whether I need to plan to maintain an B800k balance in my account there or whether I could use the Thai rent income to prove income instead.

 

1 hour ago, bazza73 said:

Is this sufficient, or do I have to demonstrate a monthly flow of funds from overseas? Or would this be at the discretion of the Australian consulate as a letter of income?

Your bank book balance from your transfer made in 2015 is irrelevant now, it is your balance at the date of our next application that counts.  I guess the answer to your question therefore depends on whether EITHER your remaining funds from your initial deposit plus your inward transfers to your Thai bank have resulted in a balance B800k+ at the date of your next application, OR whether you can get an income letter from your embassy proving that your pension plus investment income in Australia exceeds B65k+ per month. As you can see from the posts above you can use a combination of the two to meet the requirement if necessary. It is apparently relatively straightforward to get an income letter from the British Embassy, but If you will be relying on a letter from the Australian embassy perhaps other posters can advise on how easy or otherwise this is.

[bazza73]

7 hours ago, virgomjh said:

 

 

Your bank book balance from your transfer made in 2015 is irrelevant now, it is your balance at the date of our next application that counts.  I guess the answer to your question therefore depends on whether EITHER your remaining funds from your initial deposit plus your inward transfers to your Thai bank have resulted in a balance B800k+ at the date of your next application, OR whether you can get an income letter from your embassy proving that your pension plus investment income in Australia exceeds B65k+ per month. As you can see from the posts above you can use a combination of the two to meet the requirement if necessary. It is apparently relatively straightforward to get an income letter from the British Embassy, but If you will be relying on a letter from the Australian embassy perhaps other posters can advise on how easy or otherwise this is.

The Australian embassy does not provide a letter of income - that would be taking on responsibility, which bureaucrats hate doing. They will notarise a statutory declaration by me concerning my monthly income. I understand other Australians have successfully applied for retirement extensions on the basis of a statutory declaration. I will be checking with my visa agent to verify this.

[ubonjoe]

12 hours ago, virgomjh said:

Am I correct in saying that the income used as evidence for this purpose must be inwardly transmitted from abroad and that rental income generated from an investment property in Thailand cannot be used for proof of income for an extension application? This is mainly relevant for the 50+ group who have investments in Thailand but do not have pension income to transfer over.

You can only use income earned outside the country to meet the 65k baht income requirement.

There would not be a problem using it to maintain the 800k baht in the bank though to apply for an extension.

[wgdanson]

31 minutes ago, ubonjoe said:

You can only use income earned outside the country to meet the 65k baht income requirement.

There would not be a problem using it to maintain the 800k baht in the bank though to apply for an extension.

But do I have to show that the UK money is transferred to Thailand Bank or can it stay in UK as long as I want?

[ubonjoe]

12 minutes ago, wgdanson said:

But do I have to show that the UK money is transferred to Thailand Bank or can it stay in UK as long as I want?

There is no requirement to prove the funds to meet the 800k baht in the bank requirement came from abroad to apply for an extension of stay.

Only when applying for a non immigrant visa at immigration is the proof needed. 

[sandyf]

2 hours ago, wgdanson said:

But do I have to show that the UK money is transferred to Thailand Bank or can it stay in UK as long as I want?

If you are referring to income, the UK embassy uses a set form on which you list your income sources on an annual basis and then divide the annual total by 12 to create a monthly figure. You only need to show some proof of the income, not necessary for the funds to be in Thailand. The embassy will then provide a letter addressed to immigration indicating your monthly income and that they have seen confirmation of said income.

[vincent13]

8 hours ago, bazza73 said:

The Australian embassy does not provide a letter of income - that would be taking on responsibility, which bureaucrats hate doing. They will notarise a statutory declaration by me concerning my monthly income. I understand other Australians have successfully applied for retirement extensions on the basis of a statutory declaration. I will be checking with my visa agent to verify this.

Yes, I have utilised a stat dec from the Australian Embassy for my last 5 retirement extensions without being required by the Embassy to provide any proof of income. Most recently in October last year. There were some recent comments on TV to the effect that the Embassy may in the future require proof of income before notarising the stat dec but I am unaware whether that is now the case. Guess I will find out in October.

Edited May 11, 2017 by vincent13
incorrect grammar

[bazza73]

1 hour ago, vincent13 said:

Yes, I have utilised a stat dec from the Australian Embassy for my last 5 retirement extensions without being required by the Embassy to provide any proof of income. Most recently in October last year. There were some recent comments on TV to the effect that the Embassy may in the future require proof of income before notarising the stat dec but I am unaware whether that is now the case. Guess I will find out in October.

Thanks for the help. I am in Chiang Mai, so I have to wait for Consular Outreach visits. Are you able to PM me with a blank copy of the stat dec you used?

[Evilbaz]

1 hour ago, bazza73 said:

Thanks for the help. I am in Chiang Mai, so I have to wait for Consular Outreach visits. Are you able to PM me with a blank copy of the stat dec you used?

It's available from the Embassy website.

 

 

[bazza73]

2 minutes ago, Evilbaz said:

It's available from the Embassy website.

 

 

Thank you

[virgomjh]

10 hours ago, sandyf said:

You only need to show some proof of the income, not necessary for the funds to be in Thailand. The embassy will then provide a letter addressed to immigration indicating your monthly income and that they have seen confirmation of said income.

So if you apply for the extension using the income route with an income letter, and the funds don't necessarily have to be transferred into your account, would immigration still want to check your bank book? I am thinking about a situation where you have a few relatives / friends transferring money over from the UK monthly at £15-£20 per transfer, they could save quite a lot of money over the year by just making one monthly transfer to one account?  

Edited May 11, 2017 by virgomjh
adjustment

[sandyf]

11 hours ago, virgomjh said:

So if you apply for the extension using the income route with an income letter, and the funds don't necessarily have to be transferred into your account, would immigration still want to check your bank book? I am thinking about a situation where you have a few relatives / friends transferring money over from the UK monthly at £15-£20 per transfer, they could save quite a lot of money over the year by just making one monthly transfer to one account?  

There seems to be a bit of confusion between income and money in the bank.

" transferring money over from the UK monthly at £15-£20 per transfer," - moving money from one account to another is not income. must be from an external source.

If you have the letter from UK embassy confirming income, that is all you need for immigration in respect of income.

 

[YetAnother]

the US consulate in C Mai has the forms that thai immig requires; the consulate will 'certify' your self declaration for a fee of 50$USD; they do not require proof of any kind; need make an appointment ahead

[virgomjh]

23 hours ago, sandyf said:

There seems to be a bit of confusion between income and money in the bank.

An income letter will prove that you do potentially have B65k to cover what immigration regards as the safe minimum to cover living expenses. When it comes to renewing the extension, I had thought that immigration would want to see evidence in your bank book that the full minimum B65k income was actually being transferred over rather than just assuming that you are transferring it over. So I guess they want to see a bank book for the B800k deposit route because its easier than asking for proof of overseas deposits, not because they want proof that you have actually transferred the funds over for your living expenses? 

 

This is very relevant to the unusual situation that I am in. I am moving over there next year with my father who is blind, and Thai banks are very averse to issuing ATM cards to blind people. He will be doing his extensions on the pension income route and it would be far better for us if he can transfer his pension from the UK into my account so I can manage both our incomes for our expenditures. I had thought he would have to open a separate account and show his bank book as part of the extension renewal process.

 

If he just needs an income letter and there is no need for him to have a Thai bank account in his name it makes life a lot simpler in our case, so thanks for clarifying this!

Edited May 13, 2017 by virgomjh

[sandyf]

1 hour ago, virgomjh said:

An income letter will prove that you do potentially have B65k to cover what immigration regards as the safe minimum to cover living expenses. When it comes to renewing the extension, I had thought that immigration would want to see evidence in your bank book that the full minimum B65k income was actually being transferred over rather than just assuming that you are transferring it over. So I guess they want to see a bank book for the B800k deposit route because its easier than asking for proof of overseas deposits, not because they want proof that you have actually transferred the funds over for your living expenses? 

 

This is very relevant to the unusual situation that I am in. I am moving over there next year with my father who is blind, and Thai banks are very averse to issuing ATM cards to blind people. He will be doing his extensions on the pension income route and it would be far better for us if he can transfer his pension from the UK into my account so I can manage both our incomes for our expenditures. I had thought he would have to open a separate account and show his bank book as part of the extension renewal process.

 

If he just needs an income letter and there is no need for him to have a Thai bank account in his name it makes life a lot simpler in our case, so thanks for clarifying this!

Your last sentence is correct.

The income letter from the UK embassy will show the income in GBP and immigration will work out what that amounts to on the day the extension is applied for, and provided it equates to over 65K baht a month nothing else is required.

If the pension income is below 65K then PM me and I will explain what needs to be done. Last year the referendum vote brought my pension below the 65K level.

[virgomjh]

12 hours ago, sandyf said:

Your last sentence is correct.

The income letter from the UK embassy will show the income in GBP and immigration will work out what that amounts to on the day the extension is applied for, and provided it equates to over 65K baht a month nothing else is required.

If the pension income is below 65K then PM me and I will explain what needs to be done. Last year the referendum vote brought my pension below the 65K level.

Thanks again for the confirmation that no bank account is needed for the income route, and for the offer of further advice. Fortunately my father has a good private pension in addition to his state pension so has reasonable clearance over the B65k /m requirement.

 

Regarding your case, I presume you mean the Brexit impact on the ER caused the problem. Sorry to hear that, the extra hassle must be very annoying. Good to see the ER moving in the right direction over the past few days - hope its a trend and not a blip!