Retirement Visa 800k, does Wise transfer count as international transfer?

[Lemsta69]

1 hour ago, SenorTashi said:

I'm intrigued. I'm a newbie to long term visas so it's news to me if I can get an annual visa without proving I have funds in the bank. Please tell me more. 

I've read OJAS' post a few times and I can't see where he is saying that money in the bank is not required. Which part of the past have you that impression?

[SenorTashi]

3 minutes ago, Lemsta69 said:

I've read OJAS' post a few times and I can't see where he is saying that money in the bank is not required. Which part of the past have you that impression?

Perhaps I misunderstood but it was this part; Proof of the foreign origin of the 800k in question in the form of a Wise statement, bank document or whatever is only needed in the case of the latter, not the former!

[Andrew65]

5 minutes ago, Lemsta69 said:

I've read OJAS' post a few times and I can't see where he is saying that money in the bank is not required. Which part of the past have you that impression?

If you pay an agent it's possible.

[SenorTashi]

10 minutes ago, Lemsta69 said:

I've read OJAS' post a few times and I can't see where he is saying that money in the bank is not required. Which part of the past have you that impression?

I thought he was saying that there's the official retirement visa and then there's a retirement extension or something. It's passed my bedtime. Can't focus any more.

[Lemsta69]

8 minutes ago, Andrew65 said:

If you pay an agent it's possible.

Agents are bad mmkay? People who use agents spoil it for the rest of us. Oh wait, I used an agent to get my retirement visa ????

[Lemsta69]

8 minutes ago, SenorTashi said:

I thought he was saying that there's the official retirement visa and then there's a retirement extension or something. It's passed my bedtime. Can't focus any more.

That's correct, first you must apply for a Non-Immigrant Visa. There are two options for retirement for people aged 50 years and over.

 

There's rhe OA visa which gives an initial one year permission to stay, and the O visa which gives an initial 90 day permission to stay. 

 

The "Non-OA" can only be applied for in your home country and has more onerous requirements than the "Non-O". The Non-O can applied for either in your home country, or at your local Immigration office after you arrive in Thailand. 

 

If you choose the "arrive first" option then you can enter Thailand either visa exempt or on a tourist visa. After you arrive you can go to your local Immigration office and apply to convert your visa exempt or tourist visa to a Non-O. 

 

The conversion process requires you to show B800,000 in your Thai bank on the day you apply AND prove that the funds came from overseas. Except for Pattaya immigration office who want to see that the funds have been there for at least two months. 

 

The Non-O visa gives you a 90 day permission to stay from its date of issue and is marked USED as soon as it is issued. Towards the end of the 90 days you can apply for a one year extension of stay.

 

To obtain the extra 1 year stay you still need the B800k in the bank but you don't need to show that it came from overseas. Instead you must prove that it has been in your Thai bank account for at least 2 months. 

 

Once your extra 1 year permission to stay has been granted you must keep the B800k in your bank account for 3 months afterwards. Then you can withdraw funds if required but you cannot dip below B400k. 

 

After that, if you want to stay another year you must top-up your back account to B800k at least two months prior to the expiry of your permission to stay. 

 

I think I covered most of the salient points but I'm not a master like Ubon Joe so no issues if anyone wants to flame me for any factual or grammatical errors ????

[NoDisplayName]

1 hour ago, SenorTashi said:

Perhaps I misunderstood but it was this part; Proof of the foreign origin of the 800k in question in the form of a Wise statement, bank document or whatever is only needed in the case of the latter, not the former!

There are TWO bank letters required for the visa conversion/request application - proof of foreign source AND current balance.

 

For annual extensions of stay, ONLY current balance letter is required.  You are not required to prove foreign source again.

[Andrew65]

3 hours ago, Lemsta69 said:

Agents are bad mmkay? People who use agents spoil it for the rest of us. Oh wait, I used an agent to get my retirement visa ????

After advice from UbonJoe I managed to do it without an agent.

[SenorTashi]

9 hours ago, Lemsta69 said:

That's correct, first you must apply for a Non-Immigrant Visa. There are two options for retirement for people aged 50 years and over.

 

There's rhe OA visa which gives an initial one year permission to stay, and the O visa which gives an initial 90 day permission to stay. 

 

The "Non-OA" can only be applied for in your home country and has more onerous requirements than the "Non-O". The Non-O can applied for either in your home country, or at your local Immigration office after you arrive in Thailand. 

 

If you choose the "arrive first" option then you can enter Thailand either visa exempt or on a tourist visa. After you arrive you can go to your local Immigration office and apply to convert your visa exempt or tourist visa to a Non-O. 

 

The conversion process requires you to show B800,000 in your Thai bank on the day you apply AND prove that the funds came from overseas. Except for Pattaya immigration office who want to see that the funds have been there for at least two months. 

 

The Non-O visa gives you a 90 day permission to stay from its date of issue and is marked USED as soon as it is issued. Towards the end of the 90 days you can apply for a one year extension of stay.

 

To obtain the extra 1 year stay you still need the B800k in the bank but you don't need to show that it came from overseas. Instead you must prove that it has been in your Thai bank account for at least 2 months. 

 

Once your extra 1 year permission to stay has been granted you must keep the B800k in your bank account for 3 months afterwards. Then you can withdraw funds if required but you cannot dip below B400k. 

 

After that, if you want to stay another year you must top-up your back account to B800k at least two months prior to the expiry of your permission to stay. 

 

I think I covered most of the salient points but I'm not a master like Ubon Joe so no issues if anyone wants to flame me for any factual or grammatical errors ????

So how do the agents convince immi that the money has been in my bank for 5 months if it hasn't? 

[Lemsta69]

3 hours ago, SenorTashi said:

So how do the agents convince immi that the money has been in my bank for 5 months if it hasn't? 

You pay a fee to the agent. The agent then uses most of that fee to make a contribution to the Royal Thai Police  Benevolent Fund. This pleases the senior officers greatly and so they use their powers of discretion and kindly waive the usual seasoning requirements ????

[SenorTashi]

5 hours ago, Lemsta69 said:

You pay a fee to the agent. The agent then uses most of that fee to make a contribution to the Royal Thai Police  Benevolent Fund. This pleases the senior officers greatly and so they use their powers of discretion and kindly waive the usual seasoning requirements ????

I'm all about pleasing the police 

[KhaoYai]

On 11/9/2022 at 12:38 PM, Lacessit said:

The problem with the monthly income route is ensuring the exchange rate on foreign currency coming in is above 65,000 baht/month, anything under will be seized upon.

I tried that basis for a year, gave it up as a major PITA.

Of course, if you have a lot more than that being transferred monthly, it isn't a problem.

I'd make sure I had. Thanks.

[KhaoYai]

On 11/10/2022 at 12:26 AM, SenorTashi said:

So how do the agents convince immi that the money has been in my bank for 5 months if it hasn't? 

'Amazing Thailand' ????

[SenorTashi]

11 hours ago, KhaoYai said:

'Amazing Thailand' ????

Thanks to everyone's tips on here, I'm currently chatting with 4 different agents and they're all quoting me 34-36k for 3 months o visa plus 12 months retirement. 

[ozfarang]

33 minutes ago, SenorTashi said:

Thanks to everyone's tips on here, I'm currently chatting with 4 different agents and they're all quoting me 34-36k for 3 months o visa plus 12 months retirement. 

The agent i use charges 19K for Non-Imm O retirement (initial 12 month extension), then 14K 12 month extension renewal

[SenorTashi]

11 hours ago, ozfarang said:

The agent i use charges 19K for Non-Imm O retirement (initial 12 month extension), then 14K 12 month extension renewal

Can you say who and where? I don't know why all my quotes are high 

[scubascuba3]

22 minutes ago, SenorTashi said:

Can you say who and where? I don't know why all my quotes are high 

Where are you? Bangkok or Pattaya?

[SenorTashi]

28 minutes ago, scubascuba3 said:

Where are you? Bangkok or Pattaya?

All the way up north

[ozfarang]

1 hour ago, SenorTashi said:

Can you say who and where? I don't know why all my quotes are high 

I live in Ratchaburi and the agent is in Bangkok.

 

Go to this URL for all the info of the agent I use

 

https://thaivisacentre.com

[SenorTashi]

11 hours ago, ozfarang said:

I live in Ratchaburi and the agent is in Bangkok.

 

Go to this URL for all the info of the agent I use

 

https://thaivisacentre.com

ah ok, already chatting with them. they quoted me 36k

[Kalasin Jo]

On 11/11/2022 at 6:22 PM, KhaoYai said:

'Amazing Thailand' ????

They have a good working relationship?!????

[Kalasin Jo]

On 11/9/2022 at 10:24 PM, Lemsta69 said:

That's correct, first you must apply for a Non-Immigrant Visa. There are two options for retirement for people aged 50 years and over.

 

There's rhe OA visa which gives an initial one year permission to stay, and the O visa which gives an initial 90 day permission to stay. 

 

The "Non-OA" can only be applied for in your home country and has more onerous requirements than the "Non-O". The Non-O can applied for either in your home country, or at your local Immigration office after you arrive in Thailand. 

 

If you choose the "arrive first" option then you can enter Thailand either visa exempt or on a tourist visa. After you arrive you can go to your local Immigration office and apply to convert your visa exempt or tourist visa to a Non-O. 

 

The conversion process requires you to show B800,000 in your Thai bank on the day you apply AND prove that the funds came from overseas. Except for Pattaya immigration office who want to see that the funds have been there for at least two months. 

 

The Non-O visa gives you a 90 day permission to stay from its date of issue and is marked USED as soon as it is issued. Towards the end of the 90 days you can apply for a one year extension of stay.

 

To obtain the extra 1 year stay you still need the B800k in the bank but you don't need to show that it came from overseas. Instead you must prove that it has been in your Thai bank account for at least 2 months. 

 

Once your extra 1 year permission to stay has been granted you must keep the B800k in your bank account for 3 months afterwards. Then you can withdraw funds if required but you cannot dip below B400k. 

 

After that, if you want to stay another year you must top-up your back account to B800k at least two months prior to the expiry of your permission to stay. 

 

I think I covered most of the salient points but I'm not a master like Ubon Joe so no issues if anyone wants to flame me for any factual or grammatical errors ????

Excellent summary. 

 

I would only add that during your first year of permission to stay you could if single and brave enough marry a Thai lady here. Marriage must be registered at Ampur, Buddhist ceremony is not legally recognised. Then you only need 400k baht in the bank for the 2 months prior to your next extension application date and for 3 months after, dipping if you want to 200k baht although even that must be topped back up 2 months before your extension application.

[SenorTashi]

1 hour ago, Kalasin Jo said:

brave enough marry a Thai lady here. Marriage must be registered at Ampur, Buddhist ceremony is not legally recognised.

I have just married a Thai lady but only in a traditional sense and to be honest, that's good enough for me.

I thought the amount needed in the bank was higher if you were married. Must have got that mixed up.

[DrJack54]

3 minutes ago, SenorTashi said:

I have just married a Thai lady but only in a traditional sense and to be honest, that's good enough for me.

You are not married.

 

[SenorTashi]

1 minute ago, DrJack54 said:

You are not married.

 

as I said, fine by me

[DrJack54]

2 hours ago, Kalasin Jo said:

Then you only need 400k baht in the bank for the 2 months prior to your next extension application date and for 3 months after, dipping if you want to 200k baht although even that must be topped back up 2 months before your extension application.

If married to a Thai the money in bank method for extension is 400k for  2 months prior to application and maintained for under consideration period then can be used as required

[ChaiyaTH]

On 11/8/2022 at 2:02 PM, Don Chance said:

If thing that is expensive consider how much your money will losing to inflation. It could be earning 10%  invested which is about $2100 USD per year. So your retirement visa is really costing you $2100 a year.  And who knows if they bank doesn't misplace it.  For me, no thanks.

To claim 10% is simply BS, specially knowing what times we are at now with higher interests, this will slow stock growth. So if you want to claim 7% that comes down to 56,000 baht per year. Nowadays agents for the 800K easily charge 35-40K per year.

That means the actual diference or loss is is only 21,000 baht or less. This while you can still use these funds for over 6 months as well, thus theoretically you could still make 3.5% back and the real loss is ZERO.

 

Not to mention, now interest rates go up, you likely will even get a bit more decent percentage, so no need to even invest or take actions yourself anymore (on the 400-800K).

Yes, it would been naive if you made the transfer in the past few years, at 30-33 baht per dollar.

Edited November 13, 2022 by ChaiyaTH

[DrJack54]

4 minutes ago, SenorTashi said:

as I said, fine by me

Why mention it. 

You have equivalence to friendship ring. 

The amount you mentioned earlier for agent to obtain non O and 12 month extension for ~33k and ongoing extensions based on retirement 14k is about right. 

[DrJack54]

2 minutes ago, ChaiyaTH said:

Nowadays agents for the 800K easily charge 35-40K per year.

Where does that figure come from.

Ongoing extensions with agent are approx 14k. 

 

[ChaiyaTH]

1 minute ago, DrJack54 said:

Why mention it. 

You have equivalence to friendship ring. 

The amount you mentioned earlier for agent to obtain non O and 12 month extension for ~33k and ongoing extensions based on retirement 14k is about right. 

Disagree, almost anyone I know is paying agents more since last and current year, except in Pattaya. Cheapest 25-30K. I also expect this to keep rising or at least not lowering.