Can I use rental income from my condo in Bangkok as proof of income to extend my Non-O-Retirement visa?

Non-O-Retirement visa Visa extension Proof of income Rental income Bangkok Bank Taxation of rental income Personal income tax in Thailand Municipal land tax

October 22, 2018

6 years ago

David ******

ORIGINAL POSTER

Hi Folks,

I own a condo that is rented out in BKK, my tenant pays THB 45K per month into my account at Bangkok Bank. Can I use this as proof of income (45K x 12 months = 540K) plus a 3 month balance of over THB 260K deposited in the same account, total of THB 800K, I will be looking to extended my Non-O-Retirement in BKK for another year?

Many Thanks In Advance...

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TLDR : Answer Summary

A user inquired about using rental income to qualify for a visa extension in Thailand. Responses highlighted that income from property rental in Thailand may not suffice without proper documentation, such as income tax records, and suggested considering embassy letters for support. There were also reminders regarding tax implications and advice to keep the conversation focused on visa issues.

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Tod *********

Okay while I'm sure you people who commented about their possible tax liability want to help, I'll caution you to STAY ON TOPIC. This isn't a group about what taxes do I owe to my country or thailand on my rental property, it's a group about visa advice.

6 years ago

William *******

If you're a USA citizen depending on your circumstances you may be subject to USA income tax on rental income earned abroad. Just a friendly heads up.

Listen to Todd's advice on the immigration issue.

6 years ago

Sean *************

Don’t forget the 12.5% municipal land tax may become an issue if you’re claiming you’re income...

6 years ago

Tod *********

Unless I'm mistaken you can't show documentation for any income from inside the country other than a salary from legally working going into the bank account to use income method. Otherwise you'd have to use the consulate notary letter.

6 years ago

David ******

ORIGINAL POSTER

Ron Angel -

In my case this is my second property, the first being my home. The property is currently under renovation, the tenant will move in at the end of November. The question was made in forward thinking to when I need to renew my extension to stay again in approximately 12 months. Under the circumstances it sounds as if it’s easier just to keep the 800K in the bank. Thanks again guys for all the helpful advice.

6 years ago

Ron *******

Thinking about going down the tax route and applying for an extension with rental income direct into a Thai bank account. Is it classed as working too? I don't know how they view rental income.

6 years ago

Ron *******

@Tod ********

yes. I kind of had it in my mind that the OP was getting the money paid into a UK bank account when I saw he was from the UK, hence i said about the proof of income as he would of needed to deal with the UK Embassy in order to get the letter.

6 years ago

Tod *********

@Ron ******

few consulates need supporting documentation to issue the affidavit of income letter (UK, Canada and a few others) most just have you fill it out.. They don't care where the money comes from.

I know for almost 100% certainty that you can't use rental income coming into your bank account in thailand to meet the financial requirements by showing the bank books.

6 years ago

David ******

ORIGINAL POSTER

Thanks Tod, as always I appreciate the USEFUL feedback.

6 years ago

Ron *******

@Tod ********

good point. No idea why I mentioned the income letter lol

6 years ago

Reply to

Ron *******

If I remember correctly, If you base your extension based on income in Thailand you will need to show personal corporation income Tax (PND.1) latest 3 months and personal income tax for previous year with receipt (PND.91)

You then need the supporting evidence to gain the Income letter from your Embassy.

6 years ago

Gregor **********

when you say you receive 45k and you intend to claim 45k being your income . . . .well it doesn't have to be the "net" income but it is hard not to play the fool card. How would we know? I cannot read the invisible between the lines

6 years ago

David ******

ORIGINAL POSTER

Thanks Ron, I appreciate the prompt response and useful information. It’s a relief that not everyone in this group likes to play the class fool!

6 years ago

Reply to

David ******

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