May the 800'000 for retirement extension from abroad take one "hub" ?

[moogradod]

I understand that the THB 800K for the retirement extension account need to come from abroad. Is it then possible that the THB 800K are first transferred to my wifes account (clearly from abroad of course) and then from there within Thailand to my "target" retirement extension account necessary to convert the original 90 day permit to a one year stay based on retirement ?

 

May seem a strange question, but believe me it is not. Want to spare you the details why - only: it can save me an substantial amount if I would do it this way.

 

 

[JackThompson]

1 hour ago, moogradod said:

... convert the original 90 day permit to a one year stay based on retirement ...

Is your "original 90-day permit" a Non-O Visa?  If so, you don't need to worry about proving origin-of-funds.  But, if your existing stay is of a "tourist" type, then your "conversion" to a Non-Imm visa would involve proving origin of funds.

[jacko45k]

For the extension I believe the money needs to have been in your account for 60 days. 

I don't believe you have to prove it came from abroad.

[khunPer]

To my knowledge the retirement bank deposit don't need to come from abroad, as long as it has been matured in an account with your name only for the required minimum period; i.e. 60-days first time of applying for a 1-year extension, 90-days the following years.

 

I have for years moved my deposit around to different banks, showing Immigration a new fixed account bankbook with the required matured amount, and never been questioned about the origin of the deposit.

 

The first years I stayed in Thailand with extensions of stay based on retirement, I was advised be my bank to use a "Fund Book" – mutual fund in bonds – instead of a fixed deposit, as the interest was slightly better. That was acknowledged a number of years by Immigration, but suddenly one year, they would not accept it anymore, as it was considered investment with a risk. I had to make a visa run for a new non-immigrant O Visa and restart the retirement extension process; however the kind immigration officer said: »Just show your Fund Book at the embassy in Malaysia, then they will grant you the non-O Visa, and when returning to Thailand change it to a bank account«, which I did. I have never been questioned about the origin of the retirement deposit.

 

When I do my annual application for extension of stay based on retirement, I always include my normal ATM-bank account in the letter and statements from the bank, so I show my source of funds for running expenses – i.e. some money coming in from abroad – as I just keep my retirement deposits in a 12-month fixed account, because I can afford it and it's more easy (for me), than finding the money each year and make sure they are matured. (Once the officer complained, until I made him aware of the year the original deposit was made...) However, to my knowledge there is no rules that the money need to come from abroad, i.e. I could have invested my savings in Thai bonds and stocks and live from interest and dividends...

[moogradod]

On 7.12.2017 at 11:51 PM, JackThompson said:

Is your "original 90-day permit" a Non-O Visa?  If so, you don't need to worry about proving origin-of-funds.  But, if your existing stay is of a "tourist" type, then your

It will be a Non-O-Visa. We are currently in Pattaya to prepare the retirement. Want to rent a condo and then based on that open a bank account account in my name only (The immigration account). Utmost priority.: Which bank would allow me to do that nowadays ?  I am on a 30 days no visa tourist status, wife is Thai she has an account with Bangkok Bank. We are opening fixed asset accounts as well in her name this time with variojus banks.

 

Any suggestion is extremely appriciated.

[ubonjoe]

31 minutes ago, moogradod said:

Utmost priority.: Which bank would allow me to do that nowadays ?  I am on a 30 days no visa tourist status, wife is Thai she has an account with Bangkok Bank. We are opening fixed asset accounts as well in her name this time with variojus banks.

Bangkok bank would be a good choice. Your wife could act as your reference to open the account.

When or where do you plan on getting the non-o visa entry needed to apply for an extension?

[moogradod]

5 hours ago, ubonjoe said:

Bangkok bank would be a good choice. Your wife could act as your reference to open the account.

When or where do you plan on getting the non-o visa entry needed to apply for an extension?

Thanks ubonjoe !! I will try Bangkok Bank in Pattaya. I will apply for the non-o in Switzerland and for this I also need a rental contract for a condo. We came especially to Pattaya now to do all that. Final entry to LOS is planned beginning April 2018. Maybe a rental contract in my name would help as well at the bank plus my wife plus the possibility that we would even invest in a fixed asset account.

[Maestro]

To apply for a non-O visa in Switzerland to visit your wife in Thailand, you do not need a rental contract for a condo. Check the website of the consulate where you plan to apply.