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pension

Discussion forum for expats moving to or living in Thailand.

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pension

Post Posted: Fri Sep 04, 2009 9:04 am

I am looking at retiring in thailand soon,can any kind person advise me of the easiest and least expensive way of transferring my Australian dollars to L.O.S.
I am currently in a super scheme,however they will not transfer each month Cash to my acct in thailand.
I am aware you need to show monies entering each month. but not sure of the best way to achieve this.
Any advice muchly appreciated.
Kevin. Sydney. Australia

 

maccastime
Newbie
Newbie
 
 
  
Re: pension

Post Posted: Fri Sep 04, 2009 2:50 pm

Hi Kevin,
We have been living here in Thailand for the last three years. We are retired Brits and living on our pensions. Initially we used 800000Baht to obtain our retirement visas but since then have been using the monthly pension amount which is confirmed by the British Embassy Letter each year and a balance in the bank to equal the 800000Baht when we renew our visas.
We do not have money paid into our account in Thailand on a monthly basis we transfer a sum of money from our UK bank annually which covers our expenditure. When the money arrives in the Thai Bank we obtain a TorTor3 to prove the money has arrived from overseas.
Very few pension schemes if any will pay into a bank in Thailand but if you transfer annually its cheaper as for us it costs 40 pounds for a transfer which can soon add up.
Now after three years our house is for sale with everything included as we want to go back to Europe. But if you have any questions we will be happy to help through our experiences.

 

fantastic1
Newbie
Newbie
 
 
  
Re: pension

Post Posted: Mon Sep 07, 2009 8:33 am

Many thanx for this info,i was not aware that u could transfer monies in this way,i have been advised by many that the thai system req to see monies entering each month.So as u have mentioned this works fine for u,and is a lot better cost wise.
Once again many thanks.
take care.

 

maccastime
Newbie
Newbie
 
 
  
Re: pension

Post Posted: Wed Sep 30, 2009 7:46 pm

fantastic is indeed correct. The income requirements for a retirement visa do not state that the money must be shown as coming into Thailand, only that you have the income. You show your bank statements proving this to the Embassy who will then give you a letter of confirmation to show to immigration.
If you don't have enough income (roughly 67,000 bht/month) you can also show money in the bank, however, as far as i am aware, this DOES need to be in Thai bank account.
For instance, say you only have 500,000 bht per annum income, you would need to show 300,000 in the bank.
I believe you will need to renew your visa annually. Any money shown in the bank must have been there for 3 months though (please check) not so on the first application.

 

Lancashirelad
Regular Poster
Regular Poster
 
 
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