Answered8 years ago

What are the rules for demonstrating foreign income for a retirement visa extension in Thailand?

Retirement Visa Thailand Immigration Foreign Income Requirements Visa Extension Rules Expatriate Finances

Dan *********

asked Apr 19, 2019

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Guys, 

Retirement extension. Is there a consensus regarding the origin of the monthly income. Does it have to be "obvious" that the source is "foreign". It's not transparent to me in that the 800k cash in the bank method just needs to be in a Thai bank, why would the monthly income be different?

Answer summary

The discussion focuses on the requirements for demonstrating foreign income when applying for a retirement extension in Thailand. There is a consensus that for the monthly income method, the income must be clearly shown to come from abroad, especially if the applicant is from a country whose consulate has ceased issuing income affidavits. Specifically, incoming overseas transfers of at least 65,000 THB per month must be deposited into a Thai bank account in the applicant's name for the preceding 12 months. The transfers must be coded by the Thai bank as foreign, not domestic.

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Tod *********

The rules are clear;

For an extension based on being over 50 (retirement) IF you want to use the monthly income method and if you are from a country whose consulate stopped issuing the affidavit of income from abroad notary letters (UK, US, Australia or Denmark) you must show incoming overseas transfers into a thai bank account in your name of at least 65K baht per month each month EVERY month for the preceding 12 months before you apply for your extension.

The transfers must be coded by your thai bank as coming in from abroad (not domestic transfers).

What we're not going to do is debate WHY that's the rule. It's the rule they came up with to allow people whose consulates stopped issuing income affidavits to still use the monthly income method to get extensions of stays.

8 years ago

Antonio ***********

Why you loose time to discuss laws?

8 years ago

Ron ******************

What if you have interest income on investments inside Thailand, which is derived without working ?

8 years ago

Robert *******

Would be nice to have more than 800.000 Thb as interest, but I guess you have to pay some income tax over it. Best is to ask the revenue and the Immigration Office if they allow this income.

8 years ago

Robert *******

If your income is made inside Thailand you need a Work Permit and a Visa that allows you to work in combination with the Work Permit. That is the only reason you income as being not working inside Thailand has to come from abroad.

8 years ago

Marty *********

Yes it needs to be obvious for the monthly income method

8 years ago

Marty *********

Because it is?

8 years ago

Marty *********

Their rules. Our consensus doesn’t matter.

8 years ago