Spending the required 800,000 Baht for retirement visa.

[wornoutcowboy]

One quick question.  I will be applying for a retirement visa soon.  After getting the visa is it possible to use the 800,000 Baht for living expenses and then topping it up the following year?   Or do I need to keep the entire 800K in the bank the entire year?

 

[Padthaigoong]

Yes and No.

 

I believe you need to keep 800k in your bank account for two months before and three months after the 12 month non O visa extension date and then the remainder of the year 400k.

 

So you have a 7 month window to spend 400k of it before you would need to top it up again two months before the renewal date.

 

[CANSIAM]

Minimum 800k at least 2 months before current application.

Minimum 800k at least 3 months after previous application.

Minimum 400k at all other times since the previous application.

Don't know if ALL Immigration offices check this....... 

 

[DrJack54]

20 minutes ago, CANSIAM said:

Don't know if ALL Immigration offices check this...

Never heard of an office NOT checking.

Aso pretty meticulous about it. 

 

[wornoutcowboy]

Thanks guys.   And just how does the Thai immigration know how much is in the bank each month?  How do they check?

[DrJack54]

4 minutes ago, wornoutcowboy said:

Thanks guys.   And just how does the Thai immigration know how much is in the bank each month?  How do they check?

When you go for your next extension they examine your bank book carefully and check if rules have been adhered to. 

 

 

Edited September 11, 2022 by DrJack54

[HappyExpat57]

5 minutes ago, DrJack54 said:

9 minutes ago, wornoutcowboy said:

Thanks guys.   And just how does the Thai immigration know how much is in the bank each month?  How do they check?

When you go for your next extension they examine your bank book carefully and check if rules have been adhered to. 

At Jomtien immigration a letter from the bank is also required. Costs 100 baht, the banks know exactly what to do.

[wornoutcowboy]

Thanks for your help guys.

[DrJack54]

12 minutes ago, HappyExpat57 said:

At Jomtien immigration a letter from the bank is also required. Costs 100 baht, the banks know exactly what to do.

The letter from the bank is standard and basically states that you are the owner of the account and balance on day of obtaining letter. 

 

Some offices also like to see "activity" in account on day of application and this can be satisfied with small deposit at same time as obtaining bank letter. 

[JohnOFphon]

I read somewhere...probably on this forum..When I exit Thailand to kill off my Non OA, that I can come back in VOA, and then I can transfer the 800,K  to my BKK bank account  before going to IM. To convert the visa on arrival to a Non O. 

The funds will show in my BKK bank account as being from abroad...but not 2 months before....

Only a week or two.   

Seems logical to me....but hey..Thai IM....logic???

[ubonjoe]

56 minutes ago, JohnOFphon said:

I read somewhere...probably on this forum..When I exit Thailand to kill off my Non OA, that I can come back in VOA, and then I can transfer the 800,K  to my BKK bank account  before going to IM. To convert the visa on arrival to a Non O. 

I doubt you qualify for a 15 day visa on arrival that is only for those from certain countries. You will likely get a 30 day visa exempt entry that can be extended for 30 days.

 

56 minutes ago, JohnOFphon said:

The funds will show in my BKK bank account as being from abroad...but not 2 months before....

When you apply for a non-o visa the 800k baht only has to be in the bank on the day apply. It will need to be in the bank for 2 months on the day you apply for the one year extension of stay during the last 30 day of the 90 day stay you will get from the non-o visa.

[Henryford]

I always thought this was odd. I presume they wanted to see that you had funds in Thailand to support yourself, medical expenses etc so you weren't a burden on the state. BUT, for most of the year you can't touch it or spend it !!

[Nickelbeer]

25 minutes ago, Henryford said:

I always thought this was odd. I presume they wanted to see that you had funds in Thailand to support yourself, medical expenses etc so you weren't a burden on the state. BUT, for most of the year you can't touch it or spend it !!

No, it’s merely a “sweetheart deal” between the government and the banks. Get an agent and forget bank deposits.

[JohnOFphon]

1 hour ago, ubonjoe said:

I doubt you qualify for a 15 day visa on arrival that is only for those from certain countries. You will likely get a 30 day visa exempt entry that can be extended for 30 days.

 

When you apply for a non-o visa the 800k baht only has to be in the bank on the day apply. It will need to be in the bank for 2 months on the day you apply for the one year extension of stay during the last 30 day of the 90 day stay you will get from the non-o visa.

Sorry  I entered the wrong type of visa....will be Visa Exempt.

[TheFishman1]

I Chiang Mai immigration I need two letters from the bank I need the total cost was 300

[DrJack54]

11 minutes ago, TheFishman1 said:

I Chiang Mai immigration I need two letters from the bank I need the total cost was 300

Which bank charges 150 per letter.

Why 2 letters? 

If two accounts with same bank they can do that with one letter

[CMBob]

1 hour ago, DrJack54 said:

Which bank charges 150 per letter.

Why 2 letters? 

If two accounts with same bank they can do that with one letter

When I went to my bank (SCB) here in Chiangmai in December, 2021, for the annual extension information, I got two separate documents: (1) The standard old bank letter as in prior years that details my name, passport number, bank account number, and amount on that day in the account, and (2) A separate document that details the amount in the account for one year. Edit:  I had never seen #2 document before (in over a decade of doing annual extensions based on retirement and funds in the bank) but just presumed it had something to do with proving to Immigration that my account never dipped below the required amount during the year (which, of course, my bank book copies showed anyway).

I don't remember the cost (typically it's been 200 baht annually) but it may have been a total of 300 baht as the one poster mentioned.

Edited September 12, 2022 by CMBob

[CANSIAM]

8 hours ago, Nickelbeer said:

No, it’s merely a “sweetheart deal” between the government and the banks. Get an agent and forget bank deposits.

They should be reducing that 800k to say 500k at least for the non-married..........

[DrJack54]

13 minutes ago, CMBob said:

The standard old bank letter as in prior years that details my name, passport number, bank account number, and amount on that day in the account, and (2) A separate document that details the amount in the account for one year.

I don't remember the cost (typically it's been 200 baht annually) but it may have been a total of 300 baht as the one poster mentioned.

What you and the other guy are referring to is Bank Letter that shows you as the owner of the account and balance in the account at time letter is requested.

 

Completely separate is annual bank statements that show all transactions for the year.

Suggest the letter 100baht and statement 200baht.

 

Not all immigration offices require bank statements using money in bank method. 

At CW (for example) just photocopies of bankbook pages is acceptable.

The one rider on that is when folk use bank account for immigration purposes and also day to day banking.

I'm that instance the transactions may be consolidated and hence bank statement required. 

 

Strongly suggest a dedicated bank account for immigration is best option. 

Edited September 12, 2022 by DrJack54

[sometimewoodworker]

1 hour ago, DrJack54 said:

Which bank charges 150 per letter.

Why 2 letters? 

If two accounts with same bank they can do that with one letter

Probably a mistake, 1 letter, 1 statement both stamped by the bank, usual fee 100 Baht for each one.

[Lacessit]

If the OP needs to spend 400K of the 800K in the year to stay afloat, perhaps he should look for another destination with less stringent requirements.

 

I don't touch the 800K, it avoids complications at extension time.

[CMBob]

16 minutes ago, DrJack54 said:

....Strongly suggest a dedicated bank account for immigration is best option. 

That's exactly what it is (it's what I call my "visa account" and I have never used it to spend for living expenses......although I have a couple of times lowered it a bit due to interest piling up in the account).

[hotandsticky]

10 hours ago, DrJack54 said:

Never heard of an office NOT checking.

Aso pretty meticulous about it. 

 

Buriram, Surin, Khon Kaen (plus several others) do NOT do a check at 3 months after your application.

 

Jomtien, for example, do.

[cjinchiangrai]

11 hours ago, DrJack54 said:

Never heard of an office NOT checking.

Also pretty meticulous about it. 

 

They are extremely meticulous about it, for example changing banks, the account goes to zero and a few hours later another one appears with 400k does not work, they will cancel your extension for that.

 

[BonMot]

I bet you can spend it all down as long as you are good to go 3 months before you make your extension all topped up.

 

I think wives tales and fish stories get started here and people just run with it.

[BonMot]

12 minutes ago, hotandsticky said:

Buriram, Surin, Khon Kaen (plus several others) do NOT do a check at 3 months after your application.

 

Jomtien, for example, do.

I suspect that none of them do. That would take a small army a bureaucrats not that they don't have them.

 

Thais are fairly incapable of this sort of follow-up.

 

I think it was just some idea that a bureaucrat came up with and it spread like wildfire on the forum.

 

My guess is the reality and most provinces and immigration offices is that it's a done deal after you have your passport stamped and handed back to you.

 

If anyone's checking it's because the office is really small and or the immigration offices are just looking to cause trouble. Again, this is not law, rule or procedure that I'm aware of.

Edited September 12, 2022 by BonMot

[BonMot]

34 minutes ago, Lacessit said:

If the OP needs to spend 400K of the 800K in the year to stay afloat, perhaps he should look for another destination with less stringent requirements.

 

I don't touch the 800K, it avoids complications at extension time.

I do the same as you but I don't understand the issue with spending money down.

 

For a number of reasons perhaps he doesn't want to have that sort of money in the country or as little as possible.

 

It does not at all mean that the individual doesn't have the money.

Edited September 12, 2022 by BonMot

[DrJack54]

13 minutes ago, hotandsticky said:

Buriram, Surin, Khon Kaen (plus several others) do NOT do a check at 3 months after your application.

 

Jomtien, for example, do.

You misunderstood me.

I'm not taking about the rogue offices that do a 3 month check after extention granted.

I was referring to when someone applies for their 12 month extension the bankbook is carefully examined to make sure requirements were met.

[BonMot]

50 minutes ago, DrJack54 said:

At CW (for example) just photocopies of bankbook pages is acceptable.

This is not correct nor has been for ten years.

 

Photocopied bank book WITH a bank letter.

[DrJack54]

6 minutes ago, BonMot said:

I bet you can spend it all down as long as you are good to go 3 months before you make your extension all topped up.

 

I think wives tales and fish stories get started here and people just run with it.

That is completely incorrect.

Please do not post information that is so wrong.

For money in the bank method immigration is meticulous in checking requirements have been adhered to for previous months back to last extension.