Financial Requirement Renewal Retirement Stamp

[Southsealad]

I have just obtained a Retirement Stamp by showing 800k in the bank for the required time.  Next year when I renew it, do I need the same 800k in the bank plus showing minimum of 65k being deposited for the 12 months i.e  this month until July 2024?   And can that 65k be used or must it stay in the pass book.

 

Been told so many different opinions, I'm confused.

 

 

Edited July 4, 2023 by Southsealad
typo

[DrJack54]

Forget income method.

You need to maintain 800k + for 3 months after application and for 2 months prior to next application.

Not below 400k at other times.

Very simple.

 

If funds not an issue some folk (I'm one) just park 800k+ in a dedicated bank account all year round.

Avoids accidents 

Edited July 4, 2023 by DrJack54

[BritTim]

Whether to use the money in the bank or income method in the long term depends on individual circumstances and preference. You will not ultimately need to do both. If switching from money in the bank to income, verify with your local immigration office that you can redeploy your money in the bank once you have 12 consecutive months of 65k+ baht transfers from overseas. Some offices can decide to apply strange rules. Whether using money in the bank or income for your retirement extensions, you can use the money transferred each month in any way you choose. If using money in the bank, transfer money as often or as infrequently as your expanses dictate as long as minimum balances are maintained.

[hotandsticky]

48 minutes ago, BritTim said:

Whether to use the money in the bank or income method in the long term depends on individual circumstances and preference. You will not ultimately need to do both. If switching from money in the bank to income, verify with your local immigration office that you can redeploy your money in the bank once you have 12 consecutive months of 65k+ baht transfers from overseas. Some offices can decide to apply strange rules. Whether using money in the bank or income for your retirement extensions, you can use the money transferred each month in any way you choose. If using money in the bank, transfer money as often or as infrequently as your expanses dictate as long as minimum balances are maintained.

 

 

I changed this year.

 

I already confirmed with Jomtien that I needed to adhere to the criteria for the June 2022 approval ie money in the bank - 800k for 3 months after and 400k the remainder of the time. I also had to evidence 12 X 65k pm leading up to June 2023 (evidenced by a special form of certification from K Bank).