New rules for retirement visa

[Giggle]

Monthly international transfers quickly become a cost-inefficient way to do it for most -- and will probably be phased out as an option down the line, as it requires too mut thinking.

"Show us the money" should replace "bad guys out, good guys in" as the slogan.

[samuel]

…or 40,000 baht EVERY month into a Thai bank as a foreign transfer for the income method…

if using TransferWise in order to save money be aware that TransferWise will appear as "local transfer" in your bank book.
so this might not be an option for UTH IO.
.

[johanthomsen]

There must be some work around regarding transferwise, since it goes off ones own account in home country and one self is recipient with a bank account recipient created at their site

[sometimewoodworker]

There must be some work around regarding transferwise, since it goes off ones own account in home country and one self is recipient with a bank account recipient created at their site

However it is a domestic transfer in your home country to TW and a domestic transfer in Thailand from TW to your account.

Some people have found that with a Bangkok Bank account it is often coded as an international transfer even though it is a domestic transfer.

[johanthomsen]

There must be some work around regarding transferwise, since it goes off ones own account in home country and one self is recipient with a bank account recipient created at their site

However it is a domestic transfer in your home country to TW and a domestic transfer in Thailand from TW to your account.

Some people have found that with a Bangkok Bank account it is often coded as an international transfer even though it is a domestic transfer.

Hmmm.. How can it be a domestic transfer to TW when on my bank account it says after moving to money Thailand that it is transfer abroad.. Confusing

[sometimewoodworker]

There must be some work around regarding transferwise, since it goes off ones own account in home country and one self is recipient with a bank account recipient created at their site

However it is a domestic transfer in your home country to TW and a domestic transfer in Thailand from TW to your account.

Some people have found that with a Bangkok Bank account it is often coded as an international transfer even though it is a domestic transfer.

Hmmm.. How can it be a domestic transfer to TW when on my bank account it says after moving to money Thailand that it is transfer abroad.. Confusing

Because the money you pay to TW does not leave the country you pay it in.

The money TW transfers to you is from their own deposit in Thailand.

Your money doesn't move internationally.

[Chuchi]

Apologies for my ignorance on the subject as I’ve always used the 800k baht method but from my understanding I will have to leave 400k dormant in my bank.Regarding 65k income per month income

1.Can you spend it or do you have to accumulate for a year?
2.Can it be separate transfers eg. 40k then 25k?
3.If I was thinking to go to the 65k route would it be preferable to initiate it the month before my renewal ?
4.Anybody on this already what’s the easiest way to keep a record, put your bank book through the atm/update once a month?
I understand these questions may sound ridiculous to some but I’m honestly clueless regarding the income method

Cheers

[sometimewoodworker]

Apologies for my ignorance on the subject as I’ve always used the 800k baht method but from my understanding I will have to leave 400k dormant in my bank.Regarding 65k income per month income

1.Can you spend it or do you have to accumulate for a year?
2.Can it be separate transfers eg. 40k then 25k?
3.If I was thinking to go to the 65k route would it be preferable to initiate it the month before my renewal ?
4.Anybody on this already what’s the easiest way to keep a record, put your bank book through the atm/update once a month?
I understand these questions may sound ridiculous to some but I’m honestly clueless regarding the income method

Cheers

To the best of my understanding at the moment of the newest rules, that are subject to change, the proof of income section only applies to US UK Australian and Danish citizens.

1 not clear but you probably/may need to keep 400,000 in the account the rest can be spent, though the 3 months after rule is very unclear so you may have to accumulate during that period as well. (You will have to ask the immigration office when you apply)

2 total of at least 65k per month international transfer more than 1 international transfer should be acceptable.

3 if you do that it will be probably refused. The rules have been published in time for international transfers to be started in February 2019.

My guess is that if you haven't started international transfers by the end of February 2019 (possibly if immigration is feeling generous March 2019) you will be unable to get an extension using the income or combination method in 2019 or very early 2020. The rule states 12 months of transfers, with discretion available to immigration officers in 2019/early 2020 to accept less than 12 months.

4 you will need a bank statement (it lists every movement and balance) as well as the bank book so probably it isn't necessary to have every movement listed in the bank book, however using a different account day to day will keep the numbers of movements low making the international transfers obvious.

With the latest guidance the income method is now much less clear than it was so your confusion is understandable. The 800k deposit is much easier to understand and comply with specially if you don't need to use the money.

[Chuchi]

Thanks sometimewoodworker much appreciated

[DuiDui49]

Just wonder for how long more Savannakhet is going to be an option for Marriage Visa and whithout showing any proof of Income..Me think,soon that lopehole going to shut down too..

[parrot]

Back in the daze before anyone in Udon had email........and I had questions about the visa situation here....I had to send a letter to a retired GI friend here and wait 2 months for him to reply. I'm pretty sure if I was considering moving here from the US today....given the thousands and thousands of posts about the current visa situation....I would opt to not move here. Way too confusing, even though I live here and can read through most of the bs.
I think the question shouldn't be 'how many expats are going to bail as a result of new rules', instead it should be how many potential expats are going to decide to not come.

[dunroaming]

Back in the daze before anyone in Udon had email........and I had questions about the visa situation here....I had to send a letter to a retired GI friend here and wait 2 months for him to reply. I'm pretty sure if I was considering moving here from the US today....given the thousands and thousands of posts about the current visa situation....I would opt to not move here. Way too confusing, even though I live here and can read through most of the bs.
I think the question shouldn't be 'how many expats are going to bail as a result of new rules', instead it should be how many potential expats are going to decide to not come.

The other question parrot is how many are going to get married to meet requirements as that's the way immigration is pushing everyone towards.

[Lone Star]

Pushing expats into marriage? No. Requiring expats to prove their ability to support themselves.

If expats choose to get "creative" and marry so that they can keep less on account, that's the bright idea of the expat.

I suspect that when expat marriages spike, Thai Immigration will exercise extra scrutiny on ALL marriage visas. Another scenario where the bad will cause more hassles and suffering for the good. Gaming the system is how we got to this point.

[dunroaming]

Pushing expats into marriage? No. Requiring expats to prove their ability to support themselves.

If expats choose to get "creative" and marry so that they can keep less on account, that's the bright idea of the expat.

I suspect that when expat marriages spike, Thai Immigration will exercise extra scrutiny on ALL marriage visas. Another scenario where the bad will cause more hassles and suffering for the good. Gaming the system is how we got to this point.

Tomorrow I might be able to answer this better have a friend coming for lunch and will ask him about his day job and what's caused the changes from his point of view

[DuiDui49]

Holding the balance: Phuket Immigration clarifies new rules on retirement visas to start March 1
Read more at https://www.thephuketnews.com/holding-t ... s7uRBb5.99


Clear as mud..

[minimiglia]

Why???????? 800000 3 month before renewal and 3 months after and 400000 for the next 6 months, simple???

[sometimewoodworker]

Why???????? 800000 3 month before renewal and 3 months after and 400000 for the next 6 months, simple???

Not quite the new rules are 800,000 2 month before renewal and 3 months after and 400000 for the next 7 months.

Though working on the 3+3+6 is certainly safe

[glalt]

I too think that if you can't meet these financial requirements that you cannot afford to live here. Living on a tight budget is not my idea of a pleasant retirement. You certainly don't need to be wealthy.

[Lone Star]

I too think that if you can't meet these financial requirements that you cannot afford to live here. Living on a tight budget is not my idea of a pleasant retirement. You certainly don't need to be wealthy.

Agree. A tight budget here means near impossible anywhere in the Western World.

Best scenario is just put 800,000 in the bank, leave it there and sleep well.

[skinner]

I too think that if you can't meet these financial requirements that you cannot afford to live here. Living on a tight budget is not my idea of a pleasant retirement. You certainly don't need to be wealthy.

Do you really think you need 800,000 baht to live in Thailand ?.
I know MANY people here who have know where near that income , and live a perfectly happy life. Even guys who eat western food everyday and drink often.
Of course the requirements are just that, requirements for the extension , not requirements for a happy life.
IMO not much will change other than the price of the bribe at immigration to ignore the financial requirements.