1st Retirement extension.....

[SunsetT]

I am a  6 month UK  'Snowbird' considering seeking an extension based on retirement when my 90 day single entry O visa expires in March. This would allow me to remain in Thailand should it be prudent to do so in the (Covid) circumstances. I am aware that I can get a 60 day extension to my 90 day stay and Im aware of the 2 month seasoning requirement of 800k thb prior to seeking the extension. 1) But how do they calculate the 2 months please? From the day I enter or is it 2 complete calendar months. If so I may have missed the boat already. 2)  What are the current insurance requirements for new O visa extension please? 3) If I obtain the extension in March do I need to be in Thailand on it's renewal date every year or, if not in Thailand,  can it be renewed on re-entry. 4) Do I need to have the same address on renewal or is it straightforward if I rent somewhere else on return to Thailand? 5) And finally where is the best savings account  to park my 800k in Thailand, i.e., which accounts have the highest interest rate please?

 

I would also like to know what peoples' opinions are of the pros and cons of doing this, as opposed to returning to the UK at some point this summer which I will anyway need to do, and seeking an OA visa to return next Autumn, or just obtaining any visa available which will allow me to continue to winter here as I have done for the last 14 years.

 

All useful info. and advice will be appreciated. Thank you.

Edited January 8, 2021 by SunsetT

[ubonjoe]

1. The 800k baht must be in the bank for 2 months on the day you apply for the extension of stay based upon retirement.

2. No insurance is required for the extension of stay.

3. Yes  If you enter after it expires you would only get a visa exempt entry since your re-entry permit would be expired.

4. No need to have the same address to apply for new extension.  You would only need to prove your new address.

5. If you are going to keep 800k baht in the bank without touching it you could use a fixed deposit account that gives the best interest. The account must be the type allows you to withdraw the money without delay or a penalty other than loss of interest.

A OA visa will require the 40/400k baht insurance to apply for it and to enter the country. You can use money in the bank in your home country to meet the 800k baht requirement. You can get almost 2 years of total stay from a OA visa by leaving and re-entering the country just before it expires (one year from the date of issue) to get a new one year entry.

[SunsetT]

8 minutes ago, ubonjoe said:

1. The 800k baht must be in the bank for 2 months on the day you apply for the extension of stay based upon retirement.

2. No insurance is required for the extension of stay.

3. Yes  If you enter after it expires you would only get a visa exempt entry since your re-entry permit would be expired.

4. No need to have the same address to apply for new extension.  You would only need to prove your new address.

5. If you are going to keep 800k baht in the bank without touching it you could use a fixed deposit account that gives the best interest. The account must be the type allows you to withdraw the money without delay or a penalty other than loss of interest.

A OA visa will require the 40/400k baht insurance to apply for it and to enter the country. You can use money in the bank in your home country to meet the 800k baht requirement. You can get almost 2 years of total stay from a OA visa by leaving and re-entering the country just before it expires (one year from the date of issue) to get a new one year entry.

Thanks Joe. If my 800k thb arrives in Thailand a couple of days short to provide 2 months, can I still get the 1 yr extension if I go into a 60 day extension to my 90 day visa?

 

Any recommendations on a fixed deposit account? Or is there a Thai comparison site for savings accounts as there is in the UK?