My wife and I both want to retire to Thailand sometime in the future (both of us are in our 50's, neither of us are Thai). I get the 800,000 in the bank requirement, no problem. But for a couple, does that mean 800,000 each, or 800,000 for the two of us combined? If the former, do we each need a separate bank account or would 1,600,000 in one account do the trick?

 

Apologies if this has been answered repeatedly...

It is 800,000 each for independent retirement extensions. Independent accounts would work of course, and be straightforward. There is a way a spouse can get a Non-Imm-O  Visa and effectively piggy-back on the partner's Retirement Extension, if finding the money is an issue. (The money has to be retained over the course of the year, at 800k for 5 months and 400k for 7 months). 

Once you (or your wife) has the Non-O visa then the spouse can get a Non-O as a "Dependant" of them so you only need 800K.

 

NB, the bank account should be in the sole name of the person who's getting the initial Non-O, if it's a joint account then you will need 1,600,000 

Thanks guys. The money isn't a problem at all. I just wondered about the mechanics and paperwork.  

1.  Each have 800k in own name and each gets one year extensions.

2.  One have 800k in own name and spouse gets extension based on that - a bit more complex timing wise and extension lost if a divorce/death so some feel each having own is better.

3.  Best not to make firm plans on current requirements as they could change if retirement is in the future.

4.  As you mention funds are not an issue there may be other options available - such as condo purchase or Elite visa or maybe others when the time comes.

21 minutes ago, lopburi3 said:

3.  Best not to make firm plans on current requirements as they could change if retirement is in the future.

He is already talking about retirement as they are both in their 50s and metion 800k.

5 minutes ago, Dagfinnur Traustason said:

He is already talking about retirement as they are both in their 50s and metion 800k.

And he clearly stated "sometime in the future".

5 hours ago, lopburi3 said:

And he clearly stated "sometime in the future".

Yes, I know that, but then they will be even older. He also clearly stated that they are both in their 50s. Still means he is talking about retirement, due to that they both at present time has the age needed for retirement. Maybe you think he will be less retiring in 10 years? ????

16 minutes ago, Dagfinnur Traustason said:

Yes, I know that, but then they will be even older. He also clearly stated that they are both in their 50s. Still means he is talking about retirement, due to that they both at present time has the age needed for retirement. Maybe you think he will be less retiring in 10 years? ????

I obviously have not understood your meaning - mine was that when he decides to make the move the requirements may be a bit different than they are currently so it is best he keeps up on any changes as time goes bye.  

As the application for a 90-day Non Imm O Visa for reason of retirement now also requires the same 400K/40K health-insurance requirement as for the 1-year Non Imm O-A Visa, it would be worthwhile for OP to consider applying for the Non Imm O-A Visa as it has multiple benefits over the 90-day Non Imm O Visa (e.g. NO need to park +800K on a personal Thai bank-account, first year Multiple Entry Visa, no need to apply for 1-year extensions during the almost 2 years of IO hassle free stay that Visa can provide you). 

8 minutes ago, Peter Denis said:

the Non Imm O-A Visa as it has multiple benefits over the 90-day Non Imm O Visa (e.g. NO need to park +800K on a personal Thai bank-account, first year Multiple Entry Visa, no need to apply for 1-year extensions during the almost 2 years of IO hassle free stay that Visa can provide you). 

Yes and no - it costs more and multi entry from extension of stay is easy to obtain.  No need to park 800k for anyone meeting income requirements.  The extra year if you exit/return at right time is a plus - but medical and police clearance are negatives.  So what fits one may not fit another quite as well.  But at this time believe things are still in flux.

11 minutes ago, Peter Denis said:

As the application for a 90-day Non Imm O Visa for reason of retirement now also requires the same 400K/40K health-insurance requirement as for the 1-year Non Imm O-A Visa, it would be worthwhile for OP to consider applying for the Non Imm O-A Visa as it has multiple benefits over the 90-day Non Imm O Visa (e.g. NO need to park +800K on a personal Thai bank-account, first year Multiple Entry Visa, no need to apply for 1-year extensions during the almost 2 years of IO hassle free stay that Visa can provide you). 

Hi Peter, that's the 1st I've heard of Non-Imm O Visas needing the 400/40K health insurance, has this been confirmed anywhere & will it also apply to existing holders when it comes to getting an extension?

8 minutes ago, lopburi3 said:

Yes and no - it costs more and multi entry from extension of stay is easy to obtain.  No need to park 800k for anyone meeting income requirements.  The extra year if you exit/return at right time is a plus - but medical and police clearance are negatives.  So what fits one may not fit another quite as well.  But at this time believe things are still in flux.

You are correct that depending on the country where you apply for the Non Imm O-A Visa the medical and police clearance can be an obstacle.  In Belgium (my home-country) the police clearance was a less than 5-minute visit to the municipality to get the free statement.  And as my brother is an MD, he simply signed the statement I had prepared for him that I am not suffering from any contagious diseases.

But even if not as easy to get the medical and the police clearance for the Non Imm O-A Visa, it avoids having to make two 1-year extension applications at your local IO with all the paperwork involved.

When taking a 2-year perspective in most cases the Non Imm O-A Visa will be the better (= easier) option.

28 minutes ago, Mike Teavee said:

Hi Peter, that's the 1st I've heard of Non-Imm O Visas needing the 400/40K health insurance, has this been confirmed anywhere & will it also apply to existing holders when it comes to getting an extension?

Yes, it's relatively new.

Attached the links to

• the USA, Washington DC Thai Embassy
• the UK, London Thai Embassy
• the France, Paris Embassy

sites where it is now part of the requirements when applying for the 90-day Non Imm O Visa for reason of retirement.

• https://thaiembdc.org/2020/09/30/nonimmigrantoaox/
• https://london.thaiembassy.org/en/publicservice/119247-requirements-for-certificate-of-entry-during-travel-restriction?page=5d6636cd15e39c3bd00072dd&menu=5f4b6eb3f6ae4b236972c562
• http://www.thaiembassy.fr/fr/visa-rdv/les-types-de-visa-et-les-documents-necessaires/visa-non-immigrant-o/

The Embassy/Consulate sites of some other countries have not been updated yet, but it looks as if this will be rolled out everywhere.

23 minutes ago, Mike Teavee said:

Hi Peter, that's the 1st I've heard of Non-Imm O Visas needing the 400/40K health insurance, has this been confirmed anywhere & will it also apply to existing holders when it comes to getting an extension?

That is requirement that came into effect when they added them to the list that could apply for a certificate of entry (COE) needed to enter the country now. There may be a few embassies that were issuing them before that do not have that requirement unless applying for a new visa.

Not needed to apply for a new extension at immigration or to change to a non-o visa from a tourist visa or visa exempt entry for one.

Get the retirement visa for yourself and add her as a dependent.  That's what I did, and it worked for the initial and all renewals

20 hours ago, Peter Denis said:

You are correct that depending on the country where you apply for the Non Imm O-A Visa the medical and police clearance can be an obstacle.  In Belgium (my home-country) the police clearance was a less than 5-minute visit to the municipality to get the free statement.  And as my brother is an MD, he simply signed the statement I had prepared for him that I am not suffering from any contagious diseases.

But even if not as easy to get the medical and the police clearance for the Non Imm O-A Visa, it avoids having to make two 1-year extension applications at your local IO with all the paperwork involved.

When taking a 2-year perspective in most cases the Non Imm O-A Visa will be the better (= easier) option.

I'm trying to avoid the Non O-A visa because my insurance company refuses to sign off the foreign insurance form and my doctor want to do the tests and I have to pay since it's not needed for those contagious diseases requirement, police report needs appointment due to Covid19 restrictions, my health insurance company also don't want to give me a letter stating I'm covered for Covid with $100,000 coverage including 400,000 baht inpatient and 40,000 outpatient. And Pacific Cross wants 43K baht per year coverage for Covid alone.

 

So I'm opting for VE or TV and convert to Non O and then 12 month extension in Thailand. 

 

My feeling is why tie up 1,600,000 baht and give it to the Thai Banks when you only need 800,000 baht in a single account and the wife can be a dependent?  The paperwork for the dependent is much easier.  You don't need bank account records, the only thing extra you need is a marriage license.   Been doing it for six years and no problem.  You can open a separate joint account for your day to day expenses.  Immigration doesn't need to know about that. 

 

And the opinion that 2 retirement "visas" extensions, one for each person, are better than one + dependent in case of death, there are policies in place for that.  I'm not sure exactly of the procedures, but my neighbors husband passed away a few years ago and she got it straightened out.  She wasn't kicked out of the country because she was a dependent.  The immigration guys are not without compassion.   Just my humble opinion.  Money in your bank, not the government's pocket.