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Retirement visa and being rich


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I haven't seen anything on the forums on this so I thought I would post the question.  Knowing that you are required to have 800k baht in a bank account for three months and a pension to receive a retirement visa, my question is if your wealth let's say you have an account with 100 million USD in it cause you won the lottery.  Do these requirements still apply?

Edited by djdubuque
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16 minutes ago, djdubuque said:

I haven't seen anything on the forums on this so I thought I would post the question.  Knowing that you are required to have 800k baht in a bank account for three months and a pension to receive a retirement visa, my question is if your wealth let's say you have an account with 100 million USD in it cause you won the lottery.  Do these requirements still apply?

Why do you think it would be different?

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2 minutes ago, Sheryl said:

The 65 a month does not have to be income. Just 65,000 a month coming in from abroad - you could transfer that amount in from savings each month, if desired. Though if you have that much savings, simpler and easier to do the 800,000 method.

 

 

I dont think its a strict requirement that income needs to come from abroad, lots of people use income from Thai stock market or business etc. 

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To the OP, yes the rules are the same for all but with great wealth you have all the choices.

 

You could do the income method.

 

You could do the bank account method. (Don't need to show any income for that.)

 

You could buy an elite card and not worry about extensions.


Enjoy. 

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1 minute ago, Peterw42 said:

I dont think its a strict requirement that income needs to come from abroad, lots of people use income from Thai stock market or business etc. 

Perhaps but that income would also require showing tax payments and tax returns. It cannot be proven by a income letter.

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15 minutes ago, Sheryl said:

You are nto required to have a pension. The only requirements are age 50 and over, either 800,000 in the bank or 65,000 a month coming in, both from  overseas sources.  They do not in the least care whether pension, interest, savings etc. just the amount and that it is brought in from abroad.

Sorry but your 65k a month DOES NOT have to 'come in'.

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5 minutes ago, ubonjoe said:

Perhaps but that income would also require showing tax payments and tax returns. It cannot be proven by a income letter.

At the moment I derive a part of my income from a Thai rental property, Its covered by my income letter which, being Australian, is just a declaration "I have an income of X" with no statement of the source. 

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If you have 800k in your account, spend 600k over the year, top up to 800k near retirement visa renewal time, will the fact that you didn't spend it all work against you?

Also what interest rate can you get on the 800k these days? 

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It doesn’t matter how much money you have as long as you have at least 800K in a Thai bank.

 

Someone that wealthy would bother with a “retirement visa”, they’d buy a 25 year Privilege Entry visa!

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1 hour ago, TSF said:

LOL, that's what I was thinking too. Who the hell would want to be an alien and doing 90-day reports when they could be cruising the Med or Caribbean in a yacht.

Have you thought fo a second a person married to a Thai and having Thai school children would find it quite difficult to provide schooling to their children in the Caribbean ? 

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2 hours ago, wgdanson said:

If you had USD 100M in the bank, why would you want to retire in Thailand?

He's a skinflint, and wants to save on the cost of female company.

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23 minutes ago, Esso49 said:

Have you thought fo a second a person married to a Thai and having Thai school children would find it quite difficult to provide schooling to their children in the Caribbean ? 

No I had not thought of it, but why not buy a Thai school and ship it home.   lol (that means it is meant to be a joke)...............Oh no, you'd get sh....ty teachers.

Edited by wgdanson
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2 hours ago, Sheryl said:

The 65 a month does not have to be income. Just 65,000 a month coming in from abroad - you could transfer that amount in from savings each month, if desired. Though if you have that much savings, simpler and easier to do the 800,000 method.

 

 

Presently the Brits have their nickers in a twist... And there has been a HUGE amount of debate about if this is acceptable to Thai Immigration... As Thai Immigration requires a letter from your home country Embassy/Consul that attests to the 65k being “income”... 

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12 minutes ago, wgdanson said:

No I had not thought of it, but why not buy a Thai school and ship it home.   lol (that means it is meant to be a joke)...............Oh no, you'd get sh....ty teachers.

There is enough rubbish in the oceans already without buying a Thai school and ship it.  But because you married a Thai and consequently have Thai children, does not necessarily mean you wish to bring them up in some floating rubbish dump does it ? 😉

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2 hours ago, sidjameson said:

If you have 800k in your account, spend 600k over the year, top up to 800k near retirement visa renewal time, will the fact that you didn't spend it all work against you?

Also what interest rate can you get on the 800k these days? 

some immigration offices may question if you dont spend any of the 800k each year as they presume you must be working in thailand

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If you have 800k in your account, spend 600k over the year, top up to 800k near retirement visa renewal time, will the fact that you didn't spend it all work against you?
Also what interest rate can you get on the 800k these days? 
1st part of the question - no problem, I do it all the time. Never spend the whole 800 (though I have other expenditures by credit card paid out of my US bank, so likely do total 800,000 over all ). If you spent nothing that would raise questions but spending less than the full 800k and topping it up is fine. Remember it has to be in the bank 3 months first so you likely need to top up to more than 800k in order to still have 800k at extension time. That to me is the hardest part of the process.

Second question I can't give you an exact but intetest rates here are very, very low. And if you wre thinking of putting 800k into a term deposit or the like (i.e. not spending any if it) that likely would raise questions.

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

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2 hours ago, sidjameson said:

If you have 800k in your account, spend 600k over the year, top up to 800k near retirement visa renewal time, will the fact that you didn't spend it all work against you?

Also what interest rate can you get on the 800k these days? 

Not really a problem. Many people leave it in a fixed deposit account to get a better interest rate.

If asked about it you could show other money coming into the country to show what you live on.  

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3 hours ago, TSF said:

LOL, that's what I was thinking too. Who the hell would want to be an alien and doing 90-day reports when they could be cruising the Med or Caribbean in a yacht.

This was only hypothetical, but if I did have the 100M, I would live in Thailand and take my Thai girl anywhere she wanted to go.  I have been to more than 60 counties for work so I would only be going to help my girl understand the way the other parts of the world live.  As she only recently has gone outside Thailand with me.

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1 minute ago, djdubuque said:

This was only hypothetical, but if I did have the 100M, I would live in Thailand and take my Thai girl anywhere she wanted to go.  I have been to more than 60 counties for work so I would only be going to help my girl understand the way the other parts of the world live.  As she only recently has gone outside Thailand with me.

Excellent post and good luck. 

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1 hour ago, djdubuque said:

This was only hypothetical, but if I did have the 100M, I would live in Thailand and take my Thai girl anywhere she wanted to go.  I have been to more than 60 counties for work so I would only be going to help my girl understand the way the other parts of the world live.  As she only recently has gone outside Thailand with me.

Provided the places she wanted to go would issue her a visa. 😆😆😆

Anyway, nice wind-up to see all the serious answers you got. 😆😆

Edited by overherebc
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5 hours ago, Peterw42 said:

Its 800k in the bank "OR" a pension/income of 65k a month, not both. You can have over 800k in the bank, there is no maximum. An amount over 800k (100 million) would have no bearing on any retirement visa requirements, so long as you meet the minimum requirements.

If you had 100 million dollars, you may choose to consider other Visa's such as an investment visa or Thai elite visa.

Correct !!!  If you super rich that doesn't alter the requirements. Although you might have other options .

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