Cash Deposits Of 800K For Retirement Visa

[SCOTT FITZGERSLD]

maybe someone here could help me with this question, as i am not getting a clear answer from the thai bank and / or immigration offficer. 

i have a bank account for few years now, which i use occasionally. i would like like to apply now for a retirement visa.

i want to deposit the 800K THB required in cash deposits. i want to bring the cash in foreign currency - as it is allowed to bring into thailand 20k USD 

on each time - and than exchange it to THB and deposit it in my thai bank account. will this be a problem if i will ask the bank for the

letter that proves that the 800K comes from overseas? OR will the bank want to see a wire transfer in order to give this letter?

wire transfer involve worse exchange rates than those at www.superrich1965.com, hence i prefer to change my $$$ there

and than deposit it into my account in THB. please help,

[ubonjoe]

There is no retirement visa you can apply for at immigration. You can apply for a one year extension of stay at immigration.

To apply for the one year extension based upon retirement there is no requirement to prove the funds came from abroad.

To apply for the extension you need a 90 day non immigrant visa (category O) entry. To apply for the visa at immigration you must have proof the funds came from abroad. The only way you can get the letter from a bank to prove the 800k baht came from abroad is if you transfer the funds into the bank. Immigration will not accept anything other than the letter from the bank.

If you want to bring in cash to meet the 800k baht requirement your only option is to apply for a single entry non-o visa at a nearby embassy or consulate or by getting one before entering the country.

 

[SCOTT FITZGERSLD]

6 hours ago, ubonjoe said:

There is no retirement visa you can apply for at immigration. You can apply for a one year extension of stay at immigration.

To apply for the one year extension based upon retirement there is no requirement to prove the funds came from abroad.

To apply for the extension you need a 90 day non immigrant visa (category O) entry. To apply for the visa at immigration you must have proof the funds came from abroad. The only way you can get the letter from a bank to prove the 800k baht came from abroad is if you transfer the funds into the bank. Immigration will not accept anything other than the letter from the bank.

If you want to bring in cash to meet the 800k baht requirement your only option is to apply for a single entry non-o visa at a nearby embassy or consulate or by getting one before entering the country.

 

THANKS, your reply make sense at last and it is a reasonable combination of all the pieces of advices i got from thai "proffesionals".  but just to make it clearer -  won't it be a problem if i will deposit 800K THB in my thai bank account, during, say, few times i entered on a 30 day visa waiver, and than apply for a one year extention of a non - immigrant O visa? they won't ask me in immigration where the 800K came from and show us proof it is from "overseas", ext. ? 

[ubonjoe]

2 minutes ago, SCOTT FITZGERSLD said:

THANKS, your reply make sense at last and it is a reasonable combination of all the pieces of advices i got from thai "proffesionals".  but just to make it clearer -  won't it be a problem if i will deposit 800K THB in my thai bank account, during, say, few times i entered on a 30 day visa waiver, and than apply for a one year extention of a non - immigrant O visa? they won't ask me in immigration where the 800K came from and show us proof it is from "overseas", ext. ? 

When you apply for a one year extension of stay at immigration they will not ask for proof the funds came from abroad.

[SCOTT FITZGERSLD]

5 hours ago, ubonjoe said:

When you apply for a one year extension of stay at immigration they will not ask for proof the funds came from abroad.

THANK YOU SIR, VERY HELPFULL INDEED

[buick]

scott,

 

what bank are you using in thailand ?  it might make sense to transfer the money and then convert your visa exempt entry into a non imm O here in thailand.  unless you already have plans to be in a nearby country (or USA) where you can apply for a non imm O or non imm OA. 

 

others may correct me but i believe bangkok bank uses the TT rate on transfers and i see that is about 10 baht less than superrich (if my math is right, that is only 2,000thb 'savings' although there could be a transfer fee).

 

http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

 

i transferred USD from the USA to a USD acct at bangkok bank (so money is still in USD).  as i recall, i paid $30 to my USA bank and 500thb to bangkok bank.  i then converted my visa exempt entry into a non imm O here in thailand, then i got the 12 month extension of stay.

 

 

[SCOTT FITZGERSLD]

I SEE. so i guess you got the letter from the bank stating your money came from "OVERSEAS". 

otherwise the immigration would not convert your visa exempt entry into a non imm O.

i wonder which is the better way...cause i allready have with me half the amount in cash, and

the immigration officer and the banker told me no need for TT, just come with the cash,

and if it is USD deposit just pay 1% commision...go figure...with all the new rules and regulations all over the world...you might be considered a global criminal just for depositing / transferring the wrong amount in the wrong way.

[stevenl]

36 minutes ago, SCOTT FITZGERSLD said:

I SEE. so i guess you got the letter from the bank stating your money came from "OVERSEAS". 

otherwise the immigration would not convert your visa exempt entry into a non imm O.

i wonder which is the better way...cause i allready have with me half the amount in cash, and

the immigration officer and the banker told me no need for TT, just come with the cash,

and if it is USD deposit just pay 1% commision...go figure...with all the new rules and regulations all over the world...you might be considered a global criminal just for depositing / transferring the wrong amount in the wrong way.

Overseas is not required.