Thai Bank Accounts For Expats

[loubrockbank]

hi we are moving to thai at end of year from uk and neeed some advise

in order to live in thailand do we need to have a specific amount of money in a thai or english bank account to proove we can affrod to live there? if so how much and do we NEED to have a thai account?

Would we need to have this amount in all the time or just for a certain amount of time?

also... sorry for the hundred questions

... which thai bank is most reccomended.. ie best rates etc.

thanks very very much for any help... we have tried consulates etc but no joy

[Morden]

You've posted several similar questions elsewhere and I have a feeling that, if you intend to live in Thailand before the end of this year, you have to do an awful lot of research very quickly.

The answers to some of your questions will depend on your nationalities. I guess that one of you is British. Is the other Thai?

What advice did you seek from the Consulates and which ones? If you Google 'Thai Consulate Hull' you will see details of the visas that they can issue. Foreigners who want to settle in Thailand will need to obtain an appropriate visa there but Thai Consulates abroad will not advise you on types of visa that they do not issue themselves.

If one of you is Thai, the other, arriving with an annual 90 day visa issued in Hull, can apply at Immigration for what is usually called a 'spouse's visa'. You will need to prove 40,000 baht monthly joint income.

If neither of you is Thai, the only suitable visa, obtained from Immigration, is the one known as the 'retirement visa' (you mentioned retirement in another thread). For that one you would each need funds in the bank and or an income. Minimum amounts apply.

That only scratches the surface of a big subject - as I said, you have a lot of research to do on visas alone. Also to Google 'Thailand government visas' or similar. Better still, get out there for a couple of weeks and talk to an Immigration Office. Try searching this site too.

Apart from visas, what do you know about land ownership? Limitations on foreigners who want to work? In which part of Thailand do you intend to live?

[naka]

It's all very simple as long as you are both over 50.

You need to open a Thai passbook savings account and you need to

be in the country to do that. Only one account is needed for a married couple,

normally the husband.

Then you need to deposit funds into the account ... do this by bank to bank

electronic transfer.

You will need to be able to show at least Bt 800,000 in the account and it will

need to have been in the account for at least 3 months prior to you asking for the

12 months retirement extension.

You will obviously be sending in 800k plus what

you will need to live on for the next year or so.

The money can then be spent as you like but you will just need to top it up to over 800,000

and maintain that minimum balance for the 3 month prior to your next 12 month extension,

and each 12 month extension thereafter.

Here is a possible scenario.

Enter Thailand on a single entry non O visa from UK consulate. Go to Hull, Birmingham or others

rather than the London Embassy and explain your retirement plans.

Arrive in Thailand with this single entry 3 month visa.

Open bank account and transfer in funds

About 2 1/2 months after arrival go on a Visa run to Malaysia (budget airlines, pretty cheap)

and get another single entry 3 month non O visa (based on the fact you want to retire in Thailand).

When two months worth of this second visa has elapsed go to the local immigration office nearest

to you and apply for the 12 month extension.

With this type of extension you will not be required to leave the country again, just turn up

at the immigration office every year (remember the money thing) and pay Bt 1,900 for the

next 12 month extension.

Naka.

Edited June 21, 2007 by naka

[Lite Beer]

As Morden said considering you intend to live here you appear to know very little about the requirements to stay here. You really do need to find out a few of the basics.

Have a look at www.pattayaexpatsclub.com

While being based in Pattaya it has stacks of usefull information on how to live in Thailand in general. Every thing from Banking to Visas, Property Law, Driving.

[Lite Beer]

It's all very simple as long as you are both over 50.

Naka.

Naka, the husband is under 50 years old.

[naka]

It's all very simple as long as you are both over 50.

Naka.

Naka, the husband is under 50 years old.

In the OP in the Visa section it was said that the husband was not of retirement age,

that could mean under 65.

Naka.

[Lite Beer]

It's all very simple as long as you are both over 50.

Naka.

Naka, the husband is under 50 years old.

In the OP in the Visa section it was said that the husband was not of retirement age,

that could mean under 65.

Naka.

Good point. I did not think of it that way.

I still think they need to do a lot of rsearch before leaving everything behind.