Pattaya May 2019
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BUSINESS SUPPLEMENT<br />
SENDING YOUR OVERSEAS<br />
PENSION TO THAILAND<br />
As we all know the retirement<br />
visa rules have recently changed<br />
and many embassies no longer issue<br />
proof of income letters which many<br />
retirees here used to extend their retirement<br />
visa.<br />
In future if you wish to use the<br />
monthly income method then you<br />
will need to transfer 65,000 THB per<br />
month to your Thai account<br />
from overseas.<br />
The Thai account must<br />
be in your name, it cannot<br />
be in your wife or girlfriend’s<br />
name or a joint account. If<br />
you don’t already have a<br />
Thai bank account, please<br />
check out our post on how<br />
to open an account https://<br />
www.keyvisathailand.com/<br />
how-to-open-a-thai-bankaccount/<br />
You can either ask your<br />
pension provider to pay<br />
your pension directly into<br />
your Thai bank account. For<br />
this purpose you will need<br />
to ask the bank to provide<br />
you with a Swift or IBAN<br />
code suitable for international transfers.<br />
We suggest trialling an overseas<br />
transfer before you commit to<br />
receiving monthly payments in this<br />
account.<br />
We suggest this for two reasons,<br />
#1 to make sure that everything is<br />
working correctly and #2 to check<br />
on the exchange rate. Depending on<br />
the bank which your pension provider<br />
uses to transfer the money you<br />
may not get the best exchange rate<br />
possible.<br />
The alternative to this is continue<br />
to receive your pension into your<br />
local bank account in your home<br />
country and then transfer it yourself<br />
to Thailand.<br />
This should be done by electronic<br />
transfer and if you have online<br />
banking, this is normally a simple<br />
process. Depending on your bank<br />
account, you may need a card reader<br />
or phone number which can be<br />
used for verifying the international<br />
Different banks have different<br />
systems and use different exchange<br />
rates. In the UK, international transfers<br />
typically vary between £9 and<br />
£20 and there is usually a mark up<br />
on the exchange rate plus bank fees<br />
from the receiving bank here in Thailand.<br />
Another way to send money<br />
from abroad to Thailand or any other<br />
country is Transferwise, this is an<br />
online borderless account which enables<br />
you to send money anywhere<br />
in the world at very low cost. You can<br />
read more about it here and register<br />
for an account - transferwise.com<br />
Expats renewing their visas in<br />
the first half of <strong>2019</strong> may still be<br />
able to use income letters previously<br />
obtained as most letters have a six<br />
month validity. But after this, you will<br />
need to understand and adhere to<br />
the new rules on bringing your pension<br />
to Thailand every month in order<br />
to use the income method next<br />
year.<br />
If you have any concerns<br />
about retirement visas and<br />
whether you are still eligible<br />
under the new rules, don’t get<br />
stressed - contact Darren by<br />
email, info@keyvisathailand.<br />
com or call into the office, opposite<br />
Big C, South <strong>Pattaya</strong>.<br />
䘀 刀 伀 䴀 㐀 Ⰰ㈀ 㜀 Ⰰ<br />
吀 䠀 䈀 伀 一 䰀 夀 ℀<br />
∠ 㘀 ─ 最 甀 愀 爀 愀 渀 琀 攀 攀 搀 ⼀ 礀 攀 愀 爀<br />
∠ 䐀 甀 爀 椀 渀 最 アパート 礀 攀 愀 爀 猀<br />
∠ 䴀 愀 渀 愀 最 攀 搀 戀 礀 圀 礀 渀 搀 栀 愀 洀 䜀 爀 漀 甀 瀀<br />
∠ 䈀 甀 椀 氀 琀 戀 礀 愀 琀 爀 甀 猀 琀 攀 搀 搀 攀 瘀 攀 氀 漀 瀀 攀 爀<br />
∠ 䜀 爀 攀 愀 琀 氀 漀 挀 愀 琀 椀 漀 渀<br />
∠ 䘀 爀 攀 攀 栀 漀 氀 搀 漀 眀 渀 攀 爀 猀 栀 椀 瀀<br />
∠ 㔀 猀 琀 愀 爀 猀 猀 攀 爀 瘀 椀 挀 攀 猀 愀 渀 搀 昀 愀 挀 椀 氀 椀 琀 椀 攀 猀<br />
伀 䘀 䘀 䔀 刀 䔀 䐀 䈀 夀<br />
嘀 䄀 唀 䈀 䄀 一 刀 䔀 䄀 䰀 䔀 匀 吀 䄀 吀 䔀<br />
倀 䄀 吀 吀 䄀 夀 䄀 䀀 䌀 伀 䴀 倀 䄀 一 夀 嘀 䄀 唀 䈀 䄀 一 ⸀ 䌀 伀 䴀<br />
⬀ 㘀 㘀 ⠀ ⤀アパート 㠀 ㈀ 㔀 㜀 ㈀ 㤀<br />
High Tower Co., Ltd. Tel: 038 411 009<br />
For all your advertising enquiries - Tel: 0846 77 43 60
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