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Retirement extension April 2021


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Did my retirement extension last week with minimal fuss.  A couple of points which may be new/helpful to others.  I may have missed this before but immigration now has a listing of extension requirements  online.  Retirement is #22.  Since my eyes glaze over when people talk about the 800K in the bank, I go the 65K a month route.

Can't seem to copy and paste from the drop down.  #3 says evidence of income of no less than 65,000 baht a month.  #5 Must have annual earnings and funds deposited with a bank totalling no less than baht 800,000, as of the filing date.  Not sure if those are alternative or cumulative.  BTW 12x65,000=780,000.  Bangkok Bank opposite Soi 7 seems to be familiar with the #5 alternative.  Their letter and the bank book update refected the total amount deposited over the past 12 months as well as the amount for each month.  I had gotten the bank letter the day before but that wasn't an issue.

Had a printout, obtained online, of my annuity statement.  I had forgotten that last year, which caused some bureaucratic angst.

Had forgotten to bring something with my address on it.  Fortunately, it's on my driver's licence so that was easily remedied.  Also, it's only one photo which I never seem to remember.

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Thanks nkped. I had done this in the past but with the change in US banking laws i was unable to comply with 65000/month method. Like you i do not want 800k in a Thai bank and would rather write off 600k for a Thai Elite.  Now with DD of SSI and OPM pension i will have the 65000 /month on my next extension. Unfortunately with an OA i cannot prove health insurance despite having more than adequate BCBS. Very happy with my current agent who also does my 90 day at no cost. But if the time comes to learn how to change to an O your outline would be helpful.

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1 hour ago, sailingbill said:

Thanks nkped. I had done this in the past but with the change in US banking laws i was unable to comply with 65000/month method. Like you i do not want 800k in a Thai bank and would rather write off 600k for a Thai Elite.  Now with DD of SSI and OPM pension i will have the 65000 /month on my next extension. Unfortunately with an OA i cannot prove health insurance despite having more than adequate BCBS. Very happy with my current agent who also does my 90 day at no cost. But if the time comes to learn how to change to an O your outline would be helpful.

Thanks for the reminder the agent will handle the 90 day for free as part of the extension to stay. In the past I've declined that part of the service as it was easy and quick for me to do the report online. Now with the reporting website having been down for months, I can't be arsed to go to immigration myself so will stop by the agent's office to have them do it for me.

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2 hours ago, sailingbill said:

Thanks nkped. I had done this in the past but with the change in US banking laws i was unable to comply with 65000/month method. Like you i do not want 800k in a Thai bank and would rather write off 600k for a Thai Elite.  Now with DD of SSI and OPM pension i will have the 65000 /month on my next extension. Unfortunately with an OA i cannot prove health insurance despite having more than adequate BCBS. Very happy with my current agent who also does my 90 day at no cost. But if the time comes to learn how to change to an O your outline would be helpful.

Still no insurance requirement for O extension.  

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  • 7 months later...

Maybe this isn’t the place, but I was wondering if anyone has any recent experience in getting a retirement extension using monthly income deposited in a bank outside of Thailand.  
 

Last time around, I went with the 800,000 baht in the Thai bank method, but this time I would rather rely on my monthly income, which is well in excess if 65,000 baht. However, if I need to show 12 months of continuous deposits to a Thai bank, that doesn’t make much sense for a person just returning.

Is this the kind of issue an agent can deal with?

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9 hours ago, js007 said:

Maybe this isn’t the place, but I was wondering if anyone has any recent experience in getting a retirement extension using monthly income deposited in a bank outside of Thailand.  
 

Last time around, I went with the 800,000 baht in the Thai bank method, but this time I would rather rely on my monthly income, which is well in excess if 65,000 baht. However, if I need to show 12 months of continuous deposits to a Thai bank, that doesn’t make much sense for a person just returning.

Is this the kind of issue an agent can deal with?

The money needs to be deposited into a Thai bank nowadays.... unless you can get an Embassy letter. People are required to show a deposit of 65,000 baht every month for 12 months.  Not sure how many deposits one has to show if this is a first time application rather than a renewal.

An agent would likely pursue the 800.000 on deposit method, as they can arrange that. 

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1 hour ago, jacko said:

The money needs to be deposited into a Thai bank nowadays.... unless you can get an Embassy letter. People are required to show a deposit of 65,000 baht every month for 12 months.  Not sure how many deposits one has to show if this is a first time application rather than a renewal.

An agent would likely pursue the 800.000 on deposit method, as they can arrange that. 

Yea, they say the agents can handle it. It all seems kind of silly.  I have the money. I have the income stream.. And yet it all has to be in a Thai bank. I guess I can deposit the 800,00 baht and then go forward.  

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37 minutes ago, js007 said:

Yea, they say the agents can handle it. It all seems kind of silly.  I have the money. I have the income stream.. And yet it all has to be in a Thai bank. I guess I can deposit the 800,00 baht and then go forward.  

From the Thai POV you're here on a retirement extension which implies not working. So they want proof that you have adequate funds in Thailand to support living here.

Where it does get silly though is the restrictions on going the 800k route. For five months your bank balance can't fall below 800k, and then for the remaining seven months they graciously allow you spend up to 400k of that money. What do they expect the person to live on if they can't spend the money in the bank over the course of the year.

For the price of 12,500B I use an agent to avoid the nonsense of dealing with immigration. And by using an agent I can transfer what I need to live on when I want, which is about every 3 to 4 months. I'm also able to leave the 800k safely parked and invested in the US which earns enough to more than cover the agent's fee.

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From the Thai POV you're here on a retirement extension which implies not working. So they want proof that you have adequate funds in Thailand to support living here.
Where it does get silly though is the restrictions on going the 800k route. For five months your bank balance can't fall below 800k, and then for the remaining seven months they graciously allow you spend up to 400k of that money. What do they expect the person to live on if they can't spend the money in the bank over the course of the year.
For the price of 12,500B I use an agent to avoid the nonsense of dealing with immigration. And by using an agent I can transfer what I need to live on when I want, which is about every 3 to 4 months. I'm also able to leave the 800k safely parked and invested in the US which earns enough to more than cover the agent's fee.
How does it work - how are you able to avoid dealing with immigration?
Does immigration really accept an agent turning up on your behalf?
Which agent do you use?

Sendt fra min ANE-LX1 med Tapatalk

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The 800,000 can be legally lent to you for 1 day. The "seasoning " requirement can be waived if the I/O has a certain high rank. So a spirit vs letter of the law conversation. No need to ever go to immigration as you drop the passport off at the agent and they will do your 90 day. Or when it works just do it online.  We were at dinner last week and laughing that none of us uses our good friend. An agent who charges at least 30k and 1,000 for a 90 day.  In fairness i have sat in the corner while he meets with clients and they sometimes require a lot of hand holding.  I remember one guy asking if he had access to the 800k.  I damn near spit my drink.  Forcebewithu referred me to Manareet on Soi Post office. I can also recommend.Not a lot of hand holding but 12,500 extension, no fee to do the 90 day.  

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30 minutes ago, Odense said:

How does it work - how are you able to avoid dealing with immigration?
Does immigration really accept an agent turning up on your behalf?
Which agent do you use?

@sailingbill gives a good summary in his post.

Manareet is who I've been using for several years now, ever since the US Embassy stopped issuing Income Affidavits.

Different this year is I had to go to the bank with a letter from the agent to have my passbook "updated". Years prior they handled it so the only trip other than dropping and picking up my passport from the agent was a quick trip to immigration so they could take my photo as proof I really existed. No waiting in line for that. Straight to desk 8 for the quick photo.

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Force i was surprised at this also, just there for the extension.   I heard Kittens was open and i have 2 girls there. The launch sequence was initiated so i told the guy i'll come back next week,no time today. He said 1000 baht more they will do the bank  . Next year i will do it myself but that day i was on a mission.

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