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Bank funds for retirement visa


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Hello lovely community,

 

I have a Thai retirement visa which I've just renewed, and I need information on one specific requirement / rule, google searching on which seems to provide many different answers...

 

I am using bank funds - 800,000 baht - to secure my visa, but I might have to dip into that money due to a medical emergency.

 

So my question is, are there rules about how long that money needs to stay in the account AFTER my renewal? I know it has to be in place at least 3 months, or maybe 90 days, BEFORE I renew next year, but does it also need to be in place for something like 2 months after I renew, meaning there is only like a 7 month window when the balance can go down to 400,000 baht?

 

I would love to hear answers specifically for the Chiang Mai immigration office, which can be very strict in enforcing the rules, and sometimes seems to even kind of make stuff up...

 

Thanks so much, as always!

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Dr Jack, 

 

Thanks so much for your quick and clear answer. 

 

One further question, if I may - is it three months after my date of application / approval, or 3 months after my actual renewal date (which is about 3 weeks later)? 

 

Thanks again! 

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14 hours ago, whophant said:

Dr Jack, 

 

Thanks so much for your quick and clear answer. 

 

One further question, if I may - is it three months after my date of application / approval, or 3 months after my actual renewal date (which is about 3 weeks later)? 

 

Thanks again! 

Count three months from the date the new extension takes effect, NOT 3 months from the date you applied for the year extension, and realize it's 3 months date to date 😉 

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If using the funds in the bank method, for annual extensions based on retirement it's 800K THB deposited in a Thai bank for 2 months prior to the date of submitting the application, maintained for 3 months after the extension is granted.

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14 hours ago, DrJack54 said:

3 months after APPLICATION 

and 2 months PRIOR to next application.

My understanding is 3 months after APPROVAL of application, since application date may be any day during a 6 week period prior to expiration.

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Just now, klauskunkel said:

My understanding is 3 months after APPROVAL of application, since application date may be any day during a 6 week period prior to expiration.

We posted same time. I clarified in post above yours.

Most offices for extension based on retirement do it on the spot eg CW. 

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15 hours ago, DrJack54 said:

3 months after APPLICATION 

and 2 months PRIOR to next application.

 

Note: seems more offices are requiring bank statements now

CM are now requiring 12 months bank statements in addition to the usual passbook copies.

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1 hour ago, Tod Daniels said:

Count three months from the date the new extension takes effect, NOT 3 months from the date you applied for the year extension, and realize it's 3 months date to date 😉 

not correct Tod. Dr Jack gave the correct information.

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1 hour ago, TigerandDog said:

not correct Tod. Dr Jack gave the correct information.

On this we will agree to disagree, 😕 

Recently had someone AT Chaengwattana who had pulled the money out 3 months after he applied for the new extension (even though his year extension expiration date was just 2 days after that as he waited to the last minute to apply)

When he went this year for his extension, with the year detail transaction print out the officer noticed he'd pulled the money out 3 months after he applied not 3 months after the extension took effect (doesn't matter WHEN you apply your next extension starts on the day your current one expires) and called him on the carpet for it. (Yep she called him out because he was 2 days short of the 3 months seasoning)

She told him technically he was on overstay for 9 months <- since the day he failed to meet the seasoning requirements.

He panicked, collected his paperwork and left, ended up using an agent to get those agent gotten hand your passport over and it comes back with the year extension from Nakhon Nowhere in it 

SO since that episode I've always stuck to the keep the funds in the account for 3 months after your new extension takes effect, then the balance can't go below 400K baht the rest of the year and you have to get it back to 800K baht 2 months before you apply for the next yearly extension.

The O/P said it's a three week difference in timing, so I'd still suggest he wait it out

Edited by Tod Daniels
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Wait a second guys, this really worries me and something is not right. 

 

I went with my dad to do his retirement extension in December last year. This was his first extension since arriving here. We did it in Phayao immigration (they were open for 5 years but still say they are new). I specifically asked the lady who extended the visa about money. The ONLY thing she said and wrote on paper is this: You can use your money after extension but make sure it doesn't go below 400k, you need to make sure the money is all there before you extend the visa. And we will need a bank statement for 12 months. Thats all. 

Now we have touched the money after visa extension, but it never dropped below 400k.  So what does that mean that he won't be able to extend this year in December? This is absurd, surely there must be a way. 

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8 minutes ago, sup3r1or said:

Now we have touched the money after visa extension, but it never dropped below 400k.  So what does that mean that he won't be able to extend this year in December? This is absurd, surely there must be a way. 

The snip of rules I posted above your post is very clear.

Seems you were given incorrect advice. 

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I have heard slightly different versions from different volunteers and IOs about how dates are calculated (this is CM immigration).
 

To be absolutely safe, stick to 800K for 3.5 months pre and post.

 

(This is not OP's situation, but many foreigners do keep 800K year round to avoid the hassle despite low interest rates.)

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25 minutes ago, sup3r1or said:

Wait a second guys, this really worries me and something is not right. 

 

I went with my dad to do his retirement extension in December last year. This was his first extension since arriving here. We did it in Phayao immigration (they were open for 5 years but still say they are new). I specifically asked the lady who extended the visa about money. The ONLY thing she said and wrote on paper is this: You can use your money after extension but make sure it doesn't go below 400k, you need to make sure the money is all there before you extend the visa. And we will need a bank statement for 12 months. Thats all. 

Now we have touched the money after visa extension, but it never dropped below 400k.  So what does that mean that he won't be able to extend this year in December? This is absurd, surely there must be a way. 

Different offices have different interpretation and enforcement. If that is what phayao office says, and its in writing, you should be fine.

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3 hours ago, Tod Daniels said:

On this we will agree to disagree, 😕 

Recently had someone AT Chaengwattana who had pulled the money out 3 months after he applied for the new extension (even though his year extension expiration date was just 2 days after that as he waited to the last minute to apply)

When he went this year for his extension, with the year detail transaction print out the officer noticed he'd pulled the money out 3 months after he applied not 3 months after the extension took effect (doesn't matter WHEN you apply your next extension starts on the day your current one expires) and called him on the carpet for it. (Yep she called him out because he was 2 days short of the 3 months seasoning)

She told him technically he was on overstay for 9 months <- since the day he failed to meet the seasoning requirements.

He panicked, collected his paperwork and left, ended up using an agent to get those agent gotten hand your passport over and it comes back with the year extension from Nakhon Nowhere in it 

SO since that episode I've always stuck to the keep the funds in the account for 3 months after your new extension takes effect, then the balance can't go below 400K baht the rest of the year and you have to get it back to 800K baht 2 months before you apply for the next yearly extension.

The O/P said it's a three week difference in timing, so I'd still suggest he wait it out

Firstly the IO was WRONG with her interpretation of the rule.

 

Secondly see Dr Jack's post with a copy of the actual rules hereunder:

 

image.png

 

Please note it clearly says FILING date NOT extension date

 

Thirdly you can post an admission to all in this forum for posting incorrect/misleading information based on an IO's wrong interpretation of the rules and stating they are correct.

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22 hours ago, whophant said:

Hello lovely community,

 

I have a Thai retirement visa which I've just renewed, and I need information on one specific requirement / rule, google searching on which seems to provide many different answers...

 

I am using bank funds - 800,000 baht - to secure my visa, but I might have to dip into that money due to a medical emergency.

 

So my question is, are there rules about how long that money needs to stay in the account AFTER my renewal? I know it has to be in place at least 3 months, or maybe 90 days, BEFORE I renew next year, but does it also need to be in place for something like 2 months after I renew, meaning there is only like a 7 month window when the balance can go down to 400,000 baht?

 

I would love to hear answers specifically for the Chiang Mai immigration office, which can be very strict in enforcing the rules, and sometimes seems to even kind of make stuff up...

 

Thanks so much, as always!

FaceBook- Thai Visa Forum,  will give you all the info re your visa that you ever need

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5 hours ago, Peterw42 said:

Different offices have different interpretation and enforcement. If that is what phayao office says, and its in writing, you should be fine.

Well, that's what they told us. I think there was a paper they gave us that they wrote by hand, not sure if my dad actually has it, but still. If they deny it and the visa can't be extended, we are really screwed. He was already very surprised by the amount of small little things here and there, so this would totally put him off. 

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17 minutes ago, sup3r1or said:

. I think there was a paper they gave us that they wrote by hand, not sure if my dad actually has it, but still. If they deny it and the visa can't be extended, we are really screwed

Thinking you should seek clarification from immigration office.

No need to take bankbook or provide one.

Just ask for rules regarding funds for that office extension based on retirement using money in bank method.

Have never heard of one office that allows withdrawal of funds down to 400k immediately after extension granted. 

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On 6/17/2024 at 10:41 AM, whophant said:

Hello lovely community,

 

I have a Thai retirement visa which I've just renewed, and I need information on one specific requirement / rule, google searching on which seems to provide many different answers...

 

I am using bank funds - 800,000 baht - to secure my visa, but I might have to dip into that money due to a medical emergency.

 

So my question is, are there rules about how long that money needs to stay in the account AFTER my renewal? I know it has to be in place at least 3 months, or maybe 90 days, BEFORE I renew next year, but does it also need to be in place for something like 2 months after I renew, meaning there is only like a 7 month window when the balance can go down to 400,000 baht?

 

I would love to hear answers specifically for the Chiang Mai immigration office, which can be very strict in enforcing the rules, and sometimes seems to even kind of make stuff up...

 

Thanks so much, as always!

3 month after extension of stay is granted, and two month before application of extension of stay – the remaining almost 7 months the deposit needs to be not less than 400,000 baht.

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13 minutes ago, khunPer said:

3 month after extension of stay is granted, and two month before application of extension of stay – the remaining almost 7 months the deposit needs to be not less than 400,000 baht.

It's very clear. Thread that only required one reply

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13 hours ago, TigerandDog said:

CM are now requiring 12 months bank statements in addition to the usual passbook copies.

Precisely the same requirement in Hat Yai, Songkla Provence. 

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1 hour ago, DrJack54 said:

It's very clear. Thread that only required one reply

Please note that I say: "3 month after extension of stay is granted".

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thai banks must love these silly rules... 800k farang money x  ....

 

with zero to little interest to be paid...

 

while people using 'agents' have to prove nothing, ever...

 

and no crack down on it, too much easy money involved...

 

I got harassed by immigration last time, I switched banks, even they had 400k each , new bank 800k for at least 2 months, bank statements for both, bank letter only for new bank, but nooooooooooooooooooooo... they wanted a bank letter from the old bank to prove it was mine, because statements in my name, on bank head letter paper and passbook in my name, was not enough proof... old bank had less then 1000 baht left on it, due to changes...

 

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19 hours ago, Tod Daniels said:

How about I don't do anything like that 🙂 and instead you take it for the honest first hand experience a friend had out at Chaengwattana?

There are OVER 80 offices in the country, there are HUNDREDS of officers who issue extension.

I'm relating what happened and you can take it at face value or you can post the b/s engrish translation over and over.

I know how it reads believe me BUT I'm telling you how it CAN work.

I'll leave it to you to tell the immigration officer they're wrong and see how far you get pushing that rope  

Now will the O/P have a problem in Chiang Mai NEXT year if they drop the balance below 800K baht 3 months after they applied for the extension this year, I guess that remains to be seen when they show up next year. I'd err on the side of caution, as I said they already pointed out we're talking 3 weeks difference between when they applied for and when the new extension took effect, it is NOT a significant amount of time in the grand scheme of things. 

The OP shouldn't have any issue at CM. I've been doing extensions there for the past 8 years and the funds have ALWAYS been based on when extension application is processed NOT the permitted to stay to date.

 

CM is NOT the rogue office some people make it out to be. If you have your paperwork correct you will not encounter any issues. The complainers usually don't have the correct copies or are missing copies. I've found CM to be very consistent in the way they process things.

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22 hours ago, TigerandDog said:

image.png

 

Please note it clearly says FILING date NOT extension date


"... can withdraw the fund 3 months after being granted permission ..."
I can read that either way - but, I am not at all surprised some IOs read it as reported.  The best rule to follow, is to interpret ANY immigration rule in the way that is least advantageous to the applicant. 

Be on the SAFE side.  Don't give them a way to reject your in-person application.  Your adequate financial status does not increase their incomes, but each rejected in-person application does.  This is the game in-play, and being aware of this dynamic makes it much less-stressful.

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