Retirement visa funds

[James76]

Just a curious question: 

for retirement visa one needs to have 800,000 nestled in the bank for 2 months?   I currently have more that in my AIA savings insurance plan, would i be able to use  that a letter from from AIA stating this instead of actual funds in bank?  The interest is way better than the banks😅

[DrJack54]

No

[James76]

2 hours ago, DrJack54 said:

No

Thanks, was a bit confused because 1 agent said they could push it through and another said no..😵‍💫

[DrJack54]

17 minutes ago, James76 said:

Thanks, was a bit confused because 1 agent said they could push it through and another said no..😵‍💫

Someone might be along to offer different advice.

You mentioned "agent" 

If you opt to use agent they can sidestep the financial requirements.

Which immigration office 

[James76]

1 minute ago, DrJack54 said:

Someone might be along to offer different advice.

You mentioned "agent" 

If you opt to use agent they can sidestep the financial requirements.

Which immigration office 

CW

[Jingthing]

With agents you don't need funds at all.

[JimTripper]

Anything that requires thinking or interpretation is a "no".

 

Think, a paper in front of you with an amount and bank name and the dates.

[Liverpool Lou]

51 minutes ago, James76 said:

Thanks, was a bit confused because 1 agent said they could push it through and another said no..😵‍💫

Of course, they could, but they wouldn't be "pushing through" the value of the AIA policy, they'd probably be doing it just on the basis of your not having funds in your bank.

[PeachCH]

Many agents in Pattaya. Google "Pattaya immigration agent". Then you can inquire and choose. 

[TheFishman1]

Well, he said one agent says yes and one agent says no why would you even be posting if you already know the answer TIT

[BusyB]

39 minutes ago, TheFishman1 said:

Well, he said one agent says yes and one agent says no why would you even be posting if you already know the answer TIT

 

I'm rather surprised there's an agent who actually says no. Normally they'd just go the no funds route. The AIA thingy is irrelevant for an agent.

[arick]

Go to your local immigration office and ask them. Ask the boss 

[khunPer]

6 hours ago, James76 said:

for retirement visa one needs to have 800,000 nestled in the bank for 2 months?

You need the 800k baht deposit at least two month prior to application for extensions of stay, and three month after approval, whereafter the deposit can be reduced to not under 400k baht until two months before next application for extension of stay.

[AndreasHG]

8 hours ago, James76 said:

Just a curious question: 

for retirement visa one needs to have 800,000 nestled in the bank for 2 months?   I currently have more that in my AIA savings insurance plan, would i be able to use  that a letter from from AIA stating this instead of actual funds in bank?  The interest is way better than the banks😅

If you apply for the first time while in Thailand, the financial requirement is to have 800,000 THB nestled in a Thai bank for 2 months (or proof of monthly income of min. 65,000 THB or a mix of savings and income totaling 800,000 THB / yr.).

 

For the retirement VISA renewal, you will have to have 800,000 THB nestled in a Thai bank for at least 2 months, and a minimum of THB 400,000 deposited all the time into the Thai account in the previous 10 months.

The 400,000 THB minimum requirement effectively replaces the health insurance, which is not mandatory, but only for those who initially applied for the VISA while already in Thailand.

 

There are agencies which allegedly can get around these requirements. The Trendy Office Building in Sukhumvit soi 13 is full of agents, some of them Indian nationals, who claim to be able to secure a VISA even if the applicant does not meet any of these requirements, for a price of course (approximately 35,000 THB). I would advise you against making use of their services.

Edited August 20 by AndreasHG

[DrJack54]

16 minutes ago, AndreasHG said:

If you apply for the first time while in Thailand, the financial requirement is to have 800,000 THB nestled in a Thai bank for 2 months (or proof of monthly income of min

If applying for non O based on retirement at immigration from a visa exempt or tourist visa entry you would only require the 800k in bank on day of application. 

 

16 minutes ago, AndreasHG said:

For the retirement VISA renewal, you will have to have 800,000 THB nestled in a Thai bank for at least 2 months, and a minimum of THB 400,000 deposited all the time into the Thai account in the previous 10 months

It's not a visa renewal but rather a 12 month extension to your permission of stay.

Requires 800k maintained in bank for 2 months prior to application and for 3 months after application and not below 400k in the other months.

16 minutes ago, AndreasHG said:

I would advise you against making use of their services.

Agents you mentioned in trendy building would be last place I would recommend and nothing like 35k for an agent in places such as Pattaya 

 

[mokwit]

1 minute ago, DrJack54 said:

Agents you mentioned in trendy building would be last place I would recommend and nothing like 35k for an agent in places such as Pattaya 

They seem to be doing a good Job for all the Bangladeshis/Nepalis/etc in the Lower Sukhumvit Free Trade Zone staying more than 60 days and running a business without Thai employees/doing reserved occupations. I would guess their paperwork is technically in order, although the 4 Thai employees are probably  feeling a bit overused.

[DrJack54]

1 minute ago, mokwit said:

They seem to be doing a good Job for all the Bangladeshis/Nepalis/etc in the Lower Sukhumvit Free Trade Zone staying more than 60 days and running a business without Thai employees/doing reserved occupations

Indeed.

I was replying to post dealing with OP situation.

Looking at extensions from a non O based on retirement 

[Rob Browder]

4 hours ago, BusyB said:

I'm rather surprised there's an agent who actually says no. Normally they'd just go the no funds route. The AIA thingy is irrelevant for an agent.

There are many agents in Bangkok who just do "hand holding" - no money-skipping - and others who do it all. 

 

1 hour ago, AndreasHG said:

The 400,000 THB minimum requirement effectively replaces the health insurance,

Those doing retirement-based extensions starting from a Non-OA Visa entry have the same 400K min-limit year-round, and also must buy health-insurance.  Those on an initial Non-O visa do not.  I have never seen anything written by immigration saying the 400K-minimum requirement was related to health insurance. 

The changes to the financials which required the 800K to remain in the bank for 3 months AFTER the extension is granted, the 400K minimum year-round, and shutting down income-letters for many foreign-nationals, were to increase agent-revenue - nothing more.

[DrJack54]

Some posts regarding legality of use of agents removed.

Off topic

[Deerculler]

9 hours ago, TheFishman1 said:

Well, he said one agent says yes and one agent says no why would you even be posting if you already know the answer TIT

He wasn’t sure.

That is why he asked.

Understand.

[Chivas]

On 8/20/2024 at 6:01 AM, Jingthing said:

With agents you don't need funds at all.

 

Back last January I was out the pool and guy called Tony who was in Thailand not for the first time (but first Pattaya trip) who had approached an agent based on recommendations

 

I wont bore the readers with the tale as it would take pages of script but he explained to me what it entailed from start to finish and I was happy to listen.....never ever have I been so astonished

 

Just astonishing how deep the layers of "bungs" go (for want of a better word) to facilitate this practice......it was just unreal the amount of people involved

 

His app showing the 800.000 Baht in real time paid by a Bangkok Bank employee and 2 minutes later it being withdrawn again

 

The level of backhanders goes right to the top of immigration. I used FB Messenger to contact the agent myself and just asked one simple question

 

"Is there any danger of arriving at Suvanabhumbi one day and a persona non grata stamp being entered in passport"  (for abusing the system)

 

Response

 

"None whatsover this is immigrations big cash cow"

 

Word for word

 

Edited in.......on the "renewal" which seems to be on average 12,500 Baht dont think for a single minute that your agent pockets that amount himself (less the official fee)

 

I'd guess (and its no more than a guess) its no more than 2,000 for the agent him/herself

Edited August 21 by Chivas

[jimn]

22 hours ago, DrJack54 said:

Agents you mentioned in trendy building would be last place I would recommend and nothing like 35k for an agent in places such as Pattaya 

You should know that many agents in Pattaya are nowhere near 35k. Many are 12500 to 13,000

[Chwooly]

6 minutes ago, jimn said:

You should know that many agents in Pattaya are nowhere near 35k. Many are 12500 to 13,000

What agents, Everyone I know about is around 35k for the initial 3month non imm O + 12 retirement. yearly renewals are then in the 12-15k range. 

[DrJack54]

41 minutes ago, Chwooly said:

What agents, Everyone I know about is around 35k for the initial 3month non imm O + 12 retirement. yearly renewals are then in the 12-15k range. 

Had meeting with Pattaya agent last Friday.

Extension retirement 12,500

If provide own financial requirements 8k for extension (expensive) 

 

Bank a/c 4,700 over 64.

3700b under 64.

Difference is due to insurance cost.

500 of the bank cost is 500 of your own money for ongoing balance.

 

90 day report 100b 

 

If non O retirement required the initial cost close to 23k which includes the 12 month extension. 

 

[DrJack54]

Several bickering and insulting posts along with replies removed 

[jimn]

On 8/21/2024 at 8:48 AM, Chwooly said:

What agents, Everyone I know about is around 35k for the initial 3month non imm O + 12 retirement. yearly renewals are then in the 12-15k range. 

I can't see anywhere in the thread that says if he has a Non O already. Pattaya prices vary across the board but the cheapest is 12.5k to 13k for an existing Non O. If OP needs a Non O and a retirement extension is about 23k not the 35k quoted.