Financial Requirement for Transferring to the 10-year Visa Program

[Mapguy]

This is a question regarding transferring from the existing one-year NI-O Long Stay Visa (already extended more than ten times) to the new NI-O X 10 year visa.  The relevant information posted by Immigration is here:

 

http://www.consular.go.th/main/th/other/7394/80938-Non-–-Immigrant-Visa--“O---X”-(Long-Stay-10-years).html

 

It seems quite clear that those with existing NI-O Long Stay for Retirement visas and extensions can transfer to the new NI-O X visa. 

 

Specifically, about financial requirements:

 

4. Financial evidence
                        4.1 Certificate of bank deposit stating bank contact information, copy of bank book and bank statement which shows fixed deposit with the amount of not less than 3 million Baht deposited in Thai bank located in Thailand;
                        OR
                        4.2 Certificate of bank deposit stating bank contact information, copy of bank book and bank statement which shows fixed deposit with the amount of not less than 1.8 million Baht deposited in Thai bank located in Thailand and certificate of annual income with the amount of not less than 1.2 million Baht (local currency equivalent) per year. (Once the applicants enter Thailand, they must have accumulated money deposited in Thai bank located in Thailand not less than 3 million Baht within 1 year.)
And (excerpted) here, for a spouse and children referring to the financial evidence for the primary applicant shown above:
Spouse and child, age under 20 years old, can apply for Non-O-X visa and must have the following required documents
    9.  Spouse (no age restriction) must show a copy of marriage certificate together with documents stated in 1-8.
    10. Child age under 20 years old must show a copy of birth certificate or proof of legitimate child and also have to submit documents number 1-3, 7 and 8

There is apparently quite an financial sting included in the new program if you are married to a foreigner who wants the same 10-year permission to stay —  and not just the amount (basically Bt3m as opposed to Bt800k) required. The existing NI-O Long Stay one-year program only requires the principal spouse meet the financial requirement.  The spouse gets a “free ride except for the normal Bt1.9k processing fee annually. The new NI-O X Long Stay option requires BOTH spouses to meet the financial requirement individually regardless of age. [I am not certain but if both spouses are over 50 years of age, Immigration requires each to meet the one-year financial requirement (basically Bt800k or the income option) individually.]

 

Otherwise, when it comes to visa and normal transaction fees, there really isn’t much of a saving.  The one-year route would add up to Bt38k. The ten-year route would add up to Bt20k for both.

 

So, if this analysis is on target, that still leaves a lot open for discussion:  the hassle to meet other new-program requirements (for those already in the one-year program), general convenience, and the usual endless debate about Thai interest rates versus and investment options elsewhere.  This is not an invitation to debate those matters, but how about responses about personal experience so far to the new financial requirement for accompanying spouses noted above?  Could we hear from those in the one-year program who have made the switch to the 10-year program?

 

 

 

[glegolo]

to my knowledge you are NOT transferring to anything, you are de facto applying for a new extension.... that´s all..

 

glegolo

[ubonjoe]

You can only get a the non-ox visa at an embassy or official consulate in your home country or country of legal residence.

Immigration is not issuing them. 

[Mapguy]

That's interesting, Ubon Joe.  I made the assumption that this could be done in Thailand for a couple of reasons.  I have not queried Immigration.

 

First, there is the wording of one of the major sub-headings in the IO posting.  Notice Immigration's (not my) parenthetical statement, as follows:

 

"How to Apply for Non-O-X Visa (in case of applying outside Thailand)"

 

in

 

http://www.consular.go.th/main/th/other/7394/80938-Non-–-Immigrant-Visa--“O---X”-(Long-Stay-10-years).html

 

That is a pretty strong suggestion that the application to cancel a one-year visa/extension and apply/change can be done in or out of Thailand.

 

As well (and this recently from personal experience at an officially receipted Bt10k Immigration service cost) another change can be made in Thailand that would otherwise by regulation require going abroad to an embassy or official consulate in your home country or country of legal residence (which the officer at the time acknowledged).  That was to change from a tourist visa to a student visa. (The process was straightforward if arduous!) 

 

Additionally, at least one other in-country service (obtaining an NI-O Long Stay visa) can be done without returning to one's home country or country of legal residence.  This is commonly known, if I am not mistaken, and done fairly often.

 

So, not doubting your word, what are your sources of information?  Anything published, official from the horse (IO) or other?

[ubonjoe]

4 minutes ago, Mapguy said:

So, not doubting your word, what are your sources of information?  Anything published, official from the horse (IO) or other?

Many people have asked at immigration and were told that they do not do them or even know anything about them.

It has been over a year since they non-ox became available and the are still staying no. There is no mention of it on the immigration website as well.

[jacko45k]

2 hours ago, glegolo said:

to my knowledge you are NOT transferring to anything, you are de facto applying for a new extension.... that´s all..

 

glegolo

Actually to a new visa I believe.

[glegolo]

21 minutes ago, jacko45k said:

Actually to a new visa I believe.

Nope, not... you are here on an extension of stay based of something (?) which you told us have been extended over the past 10 years.... That is called extension of stay and that is NOT a VISA.... You are in fact extending you permission to stay/period of stay here in Thailand...

 

So I think my first post was correct...

 

glegolo

[jacko45k]

10 hours ago, glegolo said:

Nope, not... you are here on an extension of stay based of something (?) which you told us have been extended over the past 10 years.... That is called extension of stay and that is NOT a VISA.... You are in fact extending you permission to stay/period of stay here in Thailand...

 

So I think my first post was correct...

 

glegolo

You were replying to the OP which was asking wrt transferring from an existing extension and using a Non Imm OX Visa.

 

13 hours ago, glegolo said:

to my knowledge you are NOT transferring to anything, you are de facto applying for a new extension.... that´s all..

There is no such thing as a 10 year extension. 

[onera1961]

I didn't understand the debate OP wants to start with his posting. Does he want Non O-X (Let's call it 10 year extension) from inside Thailand vis-a-vis in his home country? As of now, it is not possible to extend inside the country. Let's assume that some immigration does allow extension for a 10 year by keeping 3 million in a Thai bank. 

 

I wonder why somebody will go for 10 year extension. One can keep on extending his yearly extension by keeping 800K in a Thai bank. With 10 year extension one has to buy expensive Medical insurance from designated provider which may not be the optimal insurance requirement for the person. Spouse need a separate visa. And not to mention you keep 3 million in a Thai bank for 10 years with low interests. I don't see any benefits of a 10-year extension. And from the requirements, it seems one still has to go to immigration every year for the proof that they still have the money in a Thai bank (Ok it less after first year but still double the amount of yearly extension). 

Bottomline, TI is really clueless how to design their retirement program if they really want to have one, they could learn a thing or two from Malaysia's retirement program. A retirement program should be open to anybody who could afford, not people from certain nationalities. 

[Fairynuff]

I just can’t see any reason whatsoever to go for this....even if it was available 

[Mapguy]

No debate or any intended.  I am just pointing out what Immigration has published.  Apparently a number of people, as Ubon Joe has suggested, have told him that "Many people have asked at immigration [if they could enlist in the 10-year option here] and were told that they do not do them or even know anything about them." I haven't contacted Immigration anywhere myself, nor know of anyone who has done so.

 

That strikes me as odd.  One would think, after a year or so, there would be more posted conversation among long-stay expats in Thailand who find the necessity of one-year extensions annoying or comment on other aspects of the ten-year option, for example, the Thai insurance companies designated by Immigration or the financial requirements, just as onera1961 has above.

 

So, not a debate, but an odd situation with some ambiguity apparent, as I have pointed out above in my Monday 6:39 post.

[Sophon]

On 12/12/2018 at 12:32 PM, Mapguy said:

No debate or any intended.  I am just pointing out what Immigration has published.  Apparently a number of people, as Ubon Joe has suggested, have told him that "Many people have asked at immigration [if they could enlist in the 10-year option here] and were told that they do not do them or even know anything about them." I haven't contacted Immigration anywhere myself, nor know of anyone who has done so.

 

That strikes me as odd.  One would think, after a year or so, there would be more posted conversation among long-stay expats in Thailand who find the necessity of one-year extensions annoying or comment on other aspects of the ten-year option, for example, the Thai insurance companies designated by Immigration or the financial requirements, just as onera1961 has above.

 

So, not a debate, but an odd situation with some ambiguity apparent, as I have pointed out above in my Monday 6:39 post.

The information you have quoted is not posted by Immigration but by the Ministry of Foreign Affairs, who is notoriously known to be ignorant about immigration matters.

 

I believe that they have based their information about the new Non Immigrant OX visa on what they already (thought they) knew about the OA visa. If you check the information about the OA visa, you will see that they have for years stated that you can apply for an OA visa at immigration in Thailand, which we all know you can't. What you can do is apply for a one year extension, which in many ways serves the same purpose. But unfortunately there is no extension available that is the equivalent of the OX visa.

 

Sophon