Money in the bank - Retirement non-O extension - Chaeng Wattana

[Arikaaah]

I duly deposited 800K in my bank account 3 months ago. 

 

To my great dismay, I now discover that it is apparently a requirement to have 400K in the bank for an entire year prior to renewing.

 

How much trouble am I in and what is the best course of action?

 

[Jingthing]

The current rules for retirement extensions bank based:

 

800k for two months before immigration extension day.

 

Not three months.

 

800k for three months after the annual extension is granted.

 

No less than 400k for the rest of the year until the next 800k phase.

 

Assuming this isn't your first annual extension as you went under 400k you will not be eligible for your next extension under the rules.

 

If you're asking if they ever show leniency I don’t know but I doubt it.

[Londinium]

Is this your first extension?  For subsequent extensions: 800,000 for 2 months before, 3 months after and 400,000 rest of the year

[DrJack54]

OP, just as Londinium asked.....is this your first extension to the non o retirement.

If it is you only require the 800k in bank 2 months prior to application. Then keep funds in bank as per above posts 

If it's not your first extension then you need to deal with agent. That will cost about 12-14k to cover inadequate funds in bank

[Jingthing]

Yes I agree.

If it's his first extension he's not subject to the 400k rule.

 

But rereading his post where he used the word RENEWING that clearly suggests it isn't his first extension.

Edited November 20, 2020 by Jingthing

[DrJack54]

3 minutes ago, Jingthing said:

Yes I agree.

If it's his first extension he's not subject to the 400k rule.

 

But rereading his post where he used the word RENEWING that clearly suggests it isn't his first extension.

Granted. However that means he was not remotely aware of the requirements to maintain money in bank post his previous extension. 

My guess is the OP will post that this is his first extension. If not then has been living in a cave or previously had used an agent.

[Mike Teavee]

OP: Assuming this isn't your 1st extension of your Non-O (if it is then you're fine as the money only needed to be seeded for 2 months), you're not in any "Trouble" as such but you did break the terms of your last extension so will not be able to extend this time, however you do have some options available to you...  

1. Leave the country, get a new Non-O & come back (Obviously Difficult / Expensive at this time). 
2. Use the 800K in the bank to pay for a Thailand Elite Visa - 500K for 5 years (Price is going up to 600K in January so do it quick if you are going to do it) or 1 Million for 20 years 
3. Use an Agent - am guessing it will be around 25K, normally it's cheaper if you have the 800K in the bank but as you didn't keep to the conditions of your last Extension it may well cost more.  

 

Edited November 20, 2020 by Mike Teavee

[Arikaaah]

This is the very first time that I have to extend my visa for another year ( I obtained the visa last year).

[Mike Teavee]

1 hour ago, Arikaaah said:

This is the very first time that I have to extend my visa for another year ( I obtained the visa last year).

Then you're fine... Just ensure you keep a balance of at least 800K for 3 months after renewing, at least 400K for the 7 months after that & back to up to at least 800K for the 2 months prior to next year's renewal... 

 

Or, if you can,  leave the 800K in the bank all year round so you don't have to worry about it. 

[DrJack54]

1 hour ago, Arikaaah said:

This is the very first time that I have to extend my visa for another year ( I obtained the visa last year).

Excellent. As Mike and others have pointed out your all good.

Also personally I have have a dedicated bank account and leave the 800k+ year round and hence never have a slip up. Good if money situation allows it.

Since it's your first extension you may wish to research Thaivisa for checklist of what's need day of application.

Here is a thread that might be helpful.

 

 

[treetops]

Surely a Non O visa obtained last year would be long expired by now, so something doesn't compute.

[Arikaaah]

“Surely a Non O visa obtained last year would be long expired by now, so something doesn't compute.”

 

 

December 2019?

[ubonjoe]

1 hour ago, Arikaaah said:

This is the very first time that I have to extend my visa for another year ( I obtained the visa last year).

What type of visa did you use to enter the country with that gave you the permit to stay you you will be extending.

[treetops]

2 minutes ago, Arikaaah said:

December 2019?

 

I have one in my passport issued on 15th Nov 2019 and it was valid until 14th Feb 2020.  In that period I had to get an extension if I wanted to stay.  If your visa is the same as mine then it'll have expired in March this year.

 

I unerstand different visas may be issued with different rules, so may be well off, but it seems amiss to me.

[Mike Teavee]

@Arikaaah If this is your 1st entry (i.e. you haven't extended) on your Visa then it sounds like you have a Non-Imm OA Visa which gives you a 1 year permission to stay on each entry whereas the Non-Imm O only gives 90 Days (The Visa may be valid for 1 year but you need to leave & re-enter every 90 days) 

 

The difference between the 2 is you will need Health Insurance from a very small number of providers that meets the Immigration requirements of at least 400,000 In-Patient & 40,000 Out-Patients, there are several threads on here about choice of Vendors, @Peter Denis has put together a guide that will help or @Sheryl can always provide good advise.

 

If for some reason you are on a Non-IMM O Multi Entry & have misunderstood the 1 year validity of the Visa to mean you can stay in Thailand for 1 year then I'm afraid you are on a significant overstay that will result in you being blacklisted from entering Thailand for 1 year (> 90 day overstay) if you self-declare on exit, 5 years if you are somehow caught by the Police & they find you're on overstay.

 

The 2 key pieces of information are your Visa & Permission to Stay Until Stamp from your last entry, post a pic of these (redact any personal information) and we can hopefully point you in the best direction. 

 

 

 

Edited November 23, 2020 by Mike Teavee