Retirement visa help

[ray richards]

Can anyone help my friend?

He has a retirement visa expiring 20 Feb 2022 & has only put the required money plus his related pension payment today 13 Dec so he is passed the 3 months requirements, in fact he has maybe 2 months 1 week with the money in his bank, what can he do? Will immigration be lenient & understand his mistake?

I think this is his 3rd retirement extension to stay.

[DrJack54]

Money only has to be in bank for 2 months prior to application for extension.

Maintain that for 3 months post obtaininng extension then not below 400k and back up to 800k 2 months prior to next extension.

Edited December 13, 2021 by DrJack54

[lopburi3]

If he had 800k in account for the required 3 months after application for extension and 2 months prior to new application and 400k or more at all other times during year he is OK.

[OJAS]

OP - sounds to me like your pal is using his "everyday" bank account for 800k/400k retirement extension seasoning purposes. Provided that he has the necessary resources to hand, he would IMHO be better advised to open another bank account into which he should stick 800k which he should then leave untouched year round so as to minimise the risk of potential similar scares arising in future. His second bank account should preferably IMHO be with another bank to the one with which he holds his "everyday" account in view of the DPA 1 million THB maximum deposit guarantee limit described in the following link:-

 

https://www.bangkokbank.com/en/Personal/Tips-and-Insights/Save-and-Invest/Practical-advice-on-deposit-protection

 

Edited December 14, 2021 by OJAS

[Hamus Yaigh]

13 hours ago, ray richards said:

so he is passed the 3 months requirements, in fact he has maybe 2 months 1 week with the money in his bank, what can he do? Will immigration be lenient & understand his mistake?

I think this is his 3rd retirement extension to stay.

If its his 3rd extension money needs to be in the bank all year using the 800/400k rules, not just  3 months as you surmise?

[rwill]

As others have already stated 800K two months before extension and 3 months after it.  Then 400K the rest of the time.

[ross163103]

13 hours ago, OJAS said:

he would IMHO be better advised to open another bank account into which he should stick 800k which he should then leave untouched year round so as to minimise the risk of potential similar scares arising in future.

That's exactly what I do, makes things a LOT easier. Saying that; I had a friend that did the same thing for 30+ years and a few of the immigration officials questioned why the money never changed. Of course they couldn't do anything about it since he met the requirements. 

[Enzian]

On 12/14/2021 at 2:51 PM, rwill said:

As others have already stated 800K two months before extension and 3 months after it.  Then 400K the rest of the time.

Can anyone point me to an English language place in some official Thai statement of the requirements where it says the figure is 800,000 baht? I have heard recently of an IO who wanted to see more like a million baht held for a period of time. I can't find such a statement in the material at the beginning of this forum. Thanks in advance.

[lopburi3]

10 minutes ago, Enzian said:

Can anyone point me to an English language place in some official Thai statement of the requirements where it says the figure is 800,000 baht? I have heard recently of an IO who wanted to see more like a million baht held for a period of time. I can't find such a statement in the material at the beginning of this forum. Thanks in advance.

Item 14 laws and regulations at forum top.

https://aseannow.com/applications/core/interface/file/attachment.php?id=567951

[rwill]

18 hours ago, Enzian said:

Can anyone point me to an English language place in some official Thai statement of the requirements where it says the figure is 800,000 baht? I have heard recently of an IO who wanted to see more like a million baht held for a period of time. I can't find such a statement in the material at the beginning of this forum. Thanks in advance.

I would say check the Thai Immigration website it does show the 800,000 baht requirement.  However it has not been updated to reflect the new requirements (2 years old now) for holding the money.  So where it says for 3 months prior to the extension that is now incorrect.