Retirement Visa Rule Changes

[SailingHome]

I have heard rumor that we no longer need 1M baht in the bank (or in lieu thereof, bank statements of deposits from over seas every month for 1 year;) that we can show an income statement notarized by our embassy here. Any confirmation? Be great for me!

[JimTripper]

Somebody did not need it, not everybody ????

[Jingthing]

The bank method is 800k not one million.

[Pib]

You are right that's it's a rumor the Bt800K deposit method has been deleted OR has changed from Bt800K to Bt1M....was this a rumor originating from the 3rd barstool down?  And the Bt65K/month transfer/deposit from overseas is still available....as is the home country embassy letter method "if" your embassy provides such letters (the UK, US, AU embassies do not).

[scottiejohn]

1 hour ago, SailingHome said:

Any confirmation?

I suggest you ask the rumormongerer for the source and then link it here!

 

 

Edited July 19, 2023 by scottiejohn

[timendres]

It has always been the case that an income verification from your embassy is accepted by immigration for the retirement extension. What changed a few years back is that Thai immigration declared it would no longer accept an "Affidavit of income" as proper verification [the affidavit being a document swearing that the person has the income, then getting their signature on that affidavit notarized by the embassy]. The US embassy (for me), and a few other embassies, declared that they would not provide verification of income [the US embassy never provided such a service - at least in my memory]. Thus, US citizens such as myself, are now required to use the 800K method or the income method [proven by bank statements for the prior 12 months].

[DrJack54]

1 hour ago, timendres said:

Thus, US citizens such as myself, are now required to use the 800K method or the income method [proven by bank statements for the prior 12 months].

UK , USA and AU citizens can still use the 65k monthly income method.

The catch is you need to show 12 month of monthly transfers prior to applying for extension. 

 

BTW: you stated the following....

"[the US embassy never provided such a service - at least in my memory]" 

 

USA embassy previously did supply "Affidavit " 

[BritTim]

There have been no recent changes to the rules, and the kinds of 'changes' you are hinting at (returning to income letters for those nationalities whose embassies stopped issuing them) seem highly unlikely, whatever your personal rumour mill might be saying.

[SailingHome]

Apologies... check out https://www.thaiembassy.com/thailand-visa/retirement-visa

Meeting the Financial Requirements for a Retirement Visa:

Financial Requirements are as follows:

• Thai Bank Account showing THB 800,000 or
• Monthly income of at least THB 65,000 (income affidavit from your embassy in Bangkok) or
• Combination (Bank Account + Annual Income = THB 800,000)

 

My understanding was that the 65k/mo HAD to be shown as a bank statement and it HAD to be a specific type of foreign transfer

[Mutt Daeng]

4 hours ago, SailingHome said:

Apologies... check out https://www.thaiembassy.com/thailand-visa/retirement-visa

Meeting the Financial Requirements for a Retirement Visa:

Financial Requirements are as follows:

• Thai Bank Account showing THB 800,000 or
• Monthly income of at least THB 65,000 (income affidavit from your embassy in Bangkok) or
• Combination (Bank Account + Annual Income = THB 800,000)

 

My understanding was that the 65k/mo HAD to be shown as a bank statement and it HAD to be a specific type of foreign transfer

That is not the official Thai Embassy website. It's managed by a law firm.

Edited July 19, 2023 by Mutt Daeng

[Hakuna Matata]

20 hours ago, SailingHome said:

I have heard rumor that we no longer need 1M baht in the bank (or in lieu thereof, bank statements of deposits from over seas every month for 1 year;) that we can show an income statement notarized by our embassy here. Any confirmation? Be great for me!

The US and UK embassies in Thailand DO NOT issue income affidavits any more, AFAIK 

[Dr. Zorg]

I know of a few retirees who get retirement visas with 200k in the bank.

They were grandfathered in.

So, if you received your retirement visa with 800k in the bank, it will remain 800k.

[BritTim]

11 hours ago, SailingHome said:

Apologies... check out https://www.thaiembassy.com/thailand-visa/retirement-visa

Meeting the Financial Requirements for a Retirement Visa:

Financial Requirements are as follows:

• Thai Bank Account showing THB 800,000 or
• Monthly income of at least THB 65,000 (income affidavit from your embassy in Bangkok) or
• Combination (Bank Account + Annual Income = THB 800,000)

 

My understanding was that the 65k/mo HAD to be shown as a bank statement and it HAD to be a specific type of foreign transfer

Those rules were accurate a few years ago, but now need some augmentation. The nationals of some countries can no longer get income letters from their embassies. For them, the alternative of regular monthly transfers from abroad, is necessary, and easy to mess up.

[tandor]

21 hours ago, SailingHome said:

I have heard rumor that we no longer need 1M baht in the bank (or in lieu thereof, bank statements of deposits from over seas every month for 1 year;) that we can show an income statement notarized by our embassy here. Any confirmation? Be great for me!

Hmm!...we have NEVER needed one million Thai baht in the bank.

[Expat68]

Just done my retirement visa today., I am UK citizen

800,000, letter/statement from bank, copies of said bank book (I always deposit 100 baht withdraw 100 bhat on same day so everything is exactly the same) copies of passport, wife's id card and her blue book

[Pink Mist]

Troll post removed

[worgeordie]

I keep at least 1 million Baht in Thai bank ,just for extension purposes ,never touch it.

as one day it will rise ,as everything else is ,problem is it's melting away

due to inflation , but it's the price I pay for no problems and peace of mind........

 

regards worgeordie

[Dutchjohn]

1 hour ago, Dr. Zorg said:

I know of a few retirees who get retirement visas with 200k in the bank.

They were grandfathered in.

So, if you received your retirement visa with 800k in the bank, it will remain 800k.

Can you ask those retirees how they accomplished that?

[Yeah rightio]

54 minutes ago, Dutchjohn said:

Can you ask those retirees how they accomplished that?

Sure , it's no secret..... This link explains it.

https://legal.co.th/resources/visa-immigration-law/thailand-immigration-law/retirement-visas-thailand-retirees-grandfathered-status/

[Ricky HKT]

I just went through the retirement extension process late last week.

I used the >800k in the bank method. I submitted full 1 years copy bank book, 1 year statements, bank verification letter.

(Note: while at immigration, I saw one man have his O-A visa canceled because he let his balance fall below 800k. They told him he must leave Thailand and restart the visa process. Be careful!!).

I have about 80k social security income, so I asked if I can use this as my income requirement (in place of 800k bank balance). I showed them some backup paperwork.

2 officers in room 103 Phuket Immigrantion told me they will accept >65k regular monthly income from overseas. I was a bit shocked and pleasantly surprised.

They said:

10-50k bank balance ok

Full copy bank book showing >65k monthly overseas deposits (note any "glitch" i.e. one month deposit not received = you are disqualified)

12 months bank statements

Bank verification letter

 

I WILL hold 800k bank balance just in case. But I think I will try the monthly income >65k next year just to see...

P.S. my wife is from Phuket and knows some of the immigration staff. I believe this does help me...

[HaoleBoy]

Chiang Mai Immigration

I  had a problem with my 800,000 THB in the bank for Visa renewal.  I used a K-Bank app and it withdrew money from my 800K Visa acct thus I was under 800K for 4 days (800 THB).  These 4 days were during the last month before renewal.  

 

Immigration Officer told me if I had another account that did not go under 2,000 THB I could get another letter from the bank for this account and 1 yr statement from the bank. 

 

I presented 2 letters from the bank (validating the bank acct was mine and active) and a yearly statement from both accounts.  IO accepted these and they gave me my 1 yr Visa (earlier this week).

[wwest5829]

22 hours ago, timendres said:

It has always been the case that an income verification from your embassy is accepted by immigration for the retirement extension. What changed a few years back is that Thai immigration declared it would no longer accept an "Affidavit of income" as proper verification [the affidavit being a document swearing that the person has the income, then getting their signature on that affidavit notarized by the embassy]. The US embassy (for me), and a few other embassies, declared that they would not provide verification of income [the US embassy never provided such a service - at least in my memory]. Thus, US citizens such as myself, are now required to use the 800K method or the income method [proven by bank statements for the prior 12 months].

I retired to Chiang Mai from the USA 12 years ago. Indeed, in the beginning I did use the U.S. Consulate affidavit as to income. It changed since I have been here and so I have used the 65K monthly income method ever since. The understandable action was based on the fact that they took our word about the income, they were only certifying that it was ourselves declaring this. When the Thai Immigration wanted the declaration to equal a “proof of income”, that is when the U.S. stopped as they were not about to deal with verifying income from the various sources were we get our retirement income. Quite different from countries where retirees receive their retirement/pension from one government source. In my case the US Consulate would have to certify my Social Security, plus my drawing on retirement savings account, plus privately earned income from stocks … not feasible to expect as a gov’t responsibility. No “pensions” as such involved.

[Alex2554]

15 hours ago, BritTim said:

There have been no recent changes to the rules, 

November 2022 non O-A

[Rimmer]

This unattributed and unsubstantiated rumor mill troll topic is closed

 

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