Retirement Extension for Dummies 2017 – Buriram Immigration

[Freddy]

Why some people would want to put 800k in the bank and just leave it there ( unless you have so much money it doesn't matter ) when there's so many other ways to meet the requirements and better ways to make money on a 800k lump sum than to have it sitting in a Thai fixed deposit account.

For me it's just the easiest option and serves 2 purposes. Firstly I know the required finds for my extension renewal are there and don't have to remember to top up 90 days prior or have to go to Bangkok to get letters. Secondly, it's a separate chunk of money that I can access quickly if needed and couldn't wait for transfer from UK. Should such an emergency occur in the 90 days leading up to extension then I'd do the proof of income or one of the many other ways that are available.

[DeputyDavid]

I agree. It may not be earning much interest but the savings by not having to go to the embassy or pay a service fee for not being able to meet unrealistic and unattainable demands from the IO may offset any other possible gains not realized.

[Starman]

It is my understanding that income varification letters from UK embassy can now be done via email or post. No need to go to Bangkok.

[DeputyDavid]

I wish my embassy would be so helpful!

[Smithy]

It is my understanding that income varification letters from UK embassy can now be done via email or post. No need to go to Bangkok.

Yes , I just recently helped a local visually impaired Ex-pat with obtaining an income verification letter from the UK embassy. A very easy simple thing to do , just download the forms , fill them in and send them off .

https://www.gov.uk/government/publications/how-to-obtain-a-pensionincome-letter-for-thai-immigration

[nookiebear]

Why some people would want to put 800k in the bank and just leave it there ( unless you have so much money it doesn't matter ) when there's so many other ways to meet the requirements and better ways to make money on a 800k lump sum than to have it sitting in a Thai fixed deposit account.

For me it's just the easiest option and serves 2 purposes. Firstly I know the required finds for my extension renewal are there and don't have to remember to top up 90 days prior or have to go to Bangkok to get letters. Secondly, it's a separate chunk of money that I can access quickly if needed and couldn't wait for transfer from UK. Should such an emergency occur in the 90 days leading up to extension then I'd do the proof of income or one of the many other ways that are available.

The 800k was a very good earner 20 years ago when the interest rate stood at 15%

[olavhome]

Does the deposit have to be on regular bank account or can thai Stock funds do?
Give a lot higher profit then regular saving account even if, at times can be turbulent :-)

[CO-CO]

Why some people would want to put 800k in the bank and just leave it there ( unless you have so much money it doesn't matter ) when there's so many other ways to meet the requirements and better ways to make money on a 800k lump sum than to have it sitting in a Thai fixed deposit account.

For me it's just the easiest option and serves 2 purposes. Firstly I know the required finds for my extension renewal are there and don't have to remember to top up 90 days prior or have to go to Bangkok to get letters. Secondly, it's a separate chunk of money that I can access quickly if needed and couldn't wait for transfer from UK. Should such an emergency occur in the 90 days leading up to extension then I'd do the proof of income or one of the many other ways that are available.

Transferwise can have your money here in 24 hours.

You would have to be a VERY unlucky person to have an emergency (requiring immediate payment) on the 90th day before your renewal date.

[Freddy]

Bloody Hell. If that were still the case I'd have a lot more than 800,000 deposited. Currently my Mbest,nets are getting between 10-12% but not without risk.

[urleft]

Transferwise can have your money here in 24 hours.

You would have to be a VERY unlucky person to have an emergency (requiring immediate payment) on the 90th day before your renewal date.

Yes be careful to ensure that money is seasoned for at least 90 days (not 3 months).  I once tried the 800K baht method where the money was in an account over a 4 month period, but only 85 days, they denied me the extension.  It did not matter that I could show the money was in another Thai Bank account for 3 months prior to that.  Of course that was at KCI, not BI, but I would not test it.

[urleft]

BTW, Nok Air is having a promotion 4-7 June with travel to be completed thru March 2019.  You may be able to book a round trip for about 1000 baht.  Go to Bangkok in the morning get your Embassy Income statement and return that same day. (I have done that several times). 


Promotional price start from 490 THB.- net / one way / person for Chiang Rai, Chiang Mai, Nan, Roi Et, Loei, Khon Kaen, Nakhon Phanom, Sakon Nakhon, Buri Ram, Ranong, Chumphon, Trang, Nakhon Si Thammarat, Hat Yai, Surat Thani, Phuket, and Chiang Mai-Udon Thani Routes. (This promotion ticket can be used for traveling on June to September 2018.)

https://content.nokair.com/en/Booking/Promotion/ThunderBirdJun.aspx?utm_source=taximail&utm_source=Taximail&utm_medium=email&utm_medium=email&utm_campaign=2018-TC-ThunderBirdSaleJUN0407&utm_campaign=2018TCThunderBirdSaleJUN0407&aliaspath=%2fBooking%2fPromotion%2fThunderBirdJun

[DeputyDavid]

Yes Urleft I saw that. Round trip with a couple days stay flight is 1100 baht. Booked!

[DeputyDavid]

Urleft I want to confirm that payment for the notary service at the embassy can be made by credit card. I checked the website which indicates yes it can but outreaches have to be paid in advance through bank draft. You know how up to date websites can be.

[urleft]

Urleft I want to confirm that payment for the notary service at the embassy can be made by credit card. I checked the website which indicates yes it can but outreaches have to be paid in advance through bank draft. You know how up to date websites can be.

Yes, I have used my Credit Card at the embassy many times.  And it is done in USD, so use a US CC. 

[DeputyDavid]

Thanks!