Clarification on Retirement Visa

[sandyf]

12 hours ago, BrandonJT said:

You CANNOT get the first 1-year extension using transfers.  Period.  End of story.  Even if you can show 20 years of transfers. you CANNOT USE IT.

That is incorrect, there is an exception in para 2 of the procedures.

 

 

[Felt 35]

14 minutes ago, sandyf said:

That is incorrect, there is an exception in para 2 of the procedures.

 

 

 

But does this also apply to extension based on retirement? I can see in the text above reason for application, documents required, and procedures that retirement is mentioned but the rest seems to be application based on marriage 

Felt

[sandyf]

2 minutes ago, Felt 35 said:

 

But does this also apply to extension based on retirement? I can see in the text above reason for application, documents required, and procedures that retirement is mentioned but the rest seems to be application based on marriage 

Felt

The document was issued in response to the embassies stopping the issue of letters, to be used in conjunction with existing regulations on both cases.

You can see in the text above the table it says something like " in the case of family members and retirement".

This is the lower part of the document.

[Felt 35]

3 hours ago, DrJack54 said:

Was thinking that. 

Point is for Canadians using income method we need to see what "transition" to perhaps money in bank will be required. 

 

Can really wonder but I guess they would be unemployed without all the "#¤¤¤#"#¤ %&   Bangkok Bank account for 28-years, paid taxes on more than 800k annually the last 15 years documented annually from Revenue dep., with tax payment certificate and certificate of residence, and retirement extension for 14 years. Sorry for the rant, but what kind of transition?

Felt

[bwanajohn]

From what you indicate you might have enough dosh to qualify for a LTR  visa.  Worth speaking to a lawyer/agent to see if that's possible...It's a better deal if you do .

[SOTIRIOS]

...Why Switch Visas At All...(?)

...And Make Sure You Have Sole Access To Some Of Your Funds At Least...(?)

[Felt 35]

On 5/4/2025 at 12:28 PM, bwanajohn said:

From what you indicate you might have enough dosh to qualify for a LTR  visa.  Worth speaking to a lawyer/agent to see if that's possible...It's a better deal if you do .

 

Thanks, but unfortunately, I don`t think so. I have approximately US 45K annually in pension and a health insurance here which cover approximate 3mill Thb but no investment in Thailand and I guess it stops there. I have healthy savings abroad, but they will be there to my demise.

Felt 

[Felt 35]

Question⁉️From what I understand in relation to the Immigration Act, 800K have to be deposited in a Thai Bank 2 months before extension based on retirement. At the same time, I see that some mention 3 months and even 12 months have been mentioned. What do you do if the respective immigration office says 12 months. Do you give up and apply for another type of visa or do you proceed with your case to higher officers.
Adding that this is not a first-time extension, but a first-time extension based on 800K but at the same Immigration office. Previously used income verification from embassy. Btw, will it as example only be possible to transfer enough pension to a savings account monthly so it 2months before application is 800K plus and use that as proof of income or do it have to be a separate account from savings?

 

Thanks

Felt

[Jingthing]

It'll never be 800k for 12 months.

The rule is two months before.

Three months after.

Not under 400K for the rest of the year.

[Rob Browder]

23 minutes ago, Felt 35 said:

Question⁉️From what I understand in relation to the Immigration Act, 800K have to be deposited in a Thai Bank 2 months before extension based on retirement. At the same time, I see that some mention 3 months and even 12 months have been mentioned. What do you do if the respective immigration office says 12 months.

A few offices have demanded 3 months before - but I haven't seen one of those reported in some time.

 

The "12 months" is probably checking compliance with the previous year - kept no less than 800K for 3 months after the last extension began, then no less 400K for the rest of the year, until time to "top up" to 800K two months before the next extension.

 

The only recourse in cases where an immigration office will not follow their own written rules, is move to another area served by another office, or use their agent to "fix" the "problem."   You can try speaking to a supervisor at the office, first - mixed reports of success/failure.

[Felt 35]

18 hours ago, Rob Browder said:

A few offices have demanded 3 months before - but I haven't seen one of those reported in some time.

 

The "12 months" is probably checking compliance with the previous year - kept no less than 800K for 3 months after the last extension began, then no less 400K for the rest of the year, until time to "top up" to 800K two months before the next extension.

 

The only recourse in cases where an immigration office will not follow their own written rules, is move to another area served by another office, or use their agent to "fix" the "problem."   You can try speaking to a supervisor at the office, first - mixed reports of success/failure.

 

Thank you for the reply. 🤞Hope my IO follow their own rules

Felt

[samtam]

On 5/2/2025 at 7:44 AM, DrJack54 said:

Generally no. 

Some immigration offices allow it however the financial requirements are doubled. 

Best to have Thai bank account in applicants name only. 

 

BTW: If married then wife name can be "silent signatory" on the account. The account owner shows as husband only however she can use the account. 

 

I have a silent signatory on my sole account, through a power of attorney I granted.

[samtam]

I imagine that any transfers, THB800K, THB400K (for marriage) and monthly THB65K all now have potential tax liability, if source of funds is post January 2024.

[Equatorial]

12 hours ago, samtam said:

I imagine that any transfers, THB800K, THB400K (for marriage) and monthly THB65K all now have potential tax liability, if source of funds is post January 2024.

 

That's what I'd like to know... 

[ronnie50]

I didn't read the whole thread, but here is my experience.

 

Years ago, between contracts in Thailand - and in order to remain in the country until a new one came along - I tried the O visa to marriage extension. This was in the days when they wanted to see photos of the wife and I at our rented house (I hear it's worse now - the IO come to your house, or so I've read). Anyway, they sent us away because they didn't like this or that - but then a new job came along and the marriage visa wasn't required (but I recall another border hop was required to get the new work-related visa).

 

Fast forward to today. Still married, but I find the retirement extension much easier. I have the 800k nested in a Thai bank (my name only) so lucky me I guess. But that's my best advice if you can afford it - retirement visa. Others may/will disagree I guess.

[DrJack54]

17 minutes ago, ronnie50 said:

I have the 800k nested in a Thai bank (my name only) so lucky me I guess. But that's my best advice if you can afford it - retirement visa. Others may/will disagree I guess

Some folk opt for that. 

A variation is to do extensions retirement however use the income method. 

Monthly transfers min 65k per month. 

This avoids necessity to have any money in your Thai bank account. 

Also has, benefit of zero funds tied up after you pass. 

[nglodnig]

On 5/1/2025 at 11:17 PM, BrandonJT said:

you cannot use income for the first 1-year extension.

I did..... had one year of 65k/month payed into my account BEFORE I applied for retirement extension - worked fine (CNX)

[ronnie50]

22 hours ago, DrJack54 said:

Monthly transfers min 65k per month. 

I guess this is why so many use WISE, because of the frequency of transfering and transactions. I do it only once it a year from my overseas bank for a larger amount and actually get a better rate than WISE - if I need to tap into the 800k here I think I have some leeway as long as it's back up to 800k by 3 months before new extension request (right?). Interesting WISE doesn't have much competition in that style of modality - XE used to do similar but stopped someone said. Don't know why.

[khunPer]

On 5/1/2025 at 2:44 PM, Slinky1958 said:

I been told that the easiest way is to just leave the 800,000 in the bank

Albeit the interest rate is not to good When I asked can I use the 100,000 per month route I was told that the UK doesn’t support this any more

You can use monthly income method for extension of stay based on retirement. If has to be monthly foreign transfers of not less than 65,000 baht per month. You can use your Thai bank account as proof; i.e., letter and 12-month's statement from the bank.

 

If changing from extension of stay based on marriage to extension of stay based on retirement, you'll need 12 months' foreign transfers as proof.

 

However, if you can afford it, the 800,000 baht bank deposit method is "the easiest way". Your interest is at the moment around 1.5% p.a. minus 15% withholding tax in a 12-month fixed term account. But if converted to money and compared to 4% outcome before taxation the difference is not that huge in real money.

 

The benefit of using the deposit method, and just leave the fund there, is that you don't need to worry abpout your foreign transfers comes every month, eventual currency exchange rate deviations, any change in funds available for the monthly transfers and the the proof of foreign transfers.

 

I've used the deposit method for more than 15 years, easy peasy procedure.

[DrJack54]

5 minutes ago, ronnie50 said:

- if I need to tap into the 800k here I think I have some leeway as long as it's back up to 800k by 3 months before new extension request (right?)

The requirements using money in bank method for extensions retirement is 800k for two months prior to application and also 800k for 3 months after application and not below 400k in other months. 

 

8 minutes ago, ronnie50 said:

I do it only once it a year from my overseas bank for a larger amount and actually get a better rate than WISE -

Interesting. Next month I will transfed 4 mill (real estate) and use WISE. Two transfers. 

9 minutes ago, ronnie50 said:

Interesting WISE doesn't have much competition in that style of modality - XE used to do similar but stopped someone said. Don't know why.

They have competition and XE is an option. 

Years back I used OFX and I like that company (great customer help via phone) ... However I have found WISE the best option for transfers from Oz. 

[BeastOfBodmin]

I didn't find this mentioned in the thread, so apologies if this was already covered.

 

As far as "pension income" is concerned, it seems you only need to show a regular transfer from an account in another country to your Thai account. Is that correct? No need to prove it is from a state pension or occupational pension?

[DrJack54]

12 minutes ago, BeastOfBodmin said:

As far as "pension income" is concerned, it seems you only need to show a regular transfer from an account in another country to your Thai account. Is that correct? No need to prove it is from a state pension or occupational pension?

As often occurs in Thailand with immigration matters, it depends on immigration office. 

Many/most offices will just want to see the 12 monthly transfers of min 65k/month.

The term retirement is misleading. 

The criteria is age 50+ and no work in Thailand. 

Ultimately folk need to check with their immigration office. 

[Equatorial]

21 minutes ago, DrJack54 said:

 

33 minutes ago, ronnie50 said:

I do it only once it a year from my overseas bank for a larger amount and actually get a better rate than WISE -

Interesting. Next month I will transfed 4 mill (real estate) and use WISE. Two transfers. 

 

The logic is that SWIFT has a fixed fee. In my bank it is USD $30. WISE fee depends on the amount transferred. Nowhere near $30 for small amounts. But, if you use SWIFT to send funds in the domestic currency (USD, AU$, etc.), and the receiving Thai bank gives you a good exchange rate, there is a break even point after which it is less expensive to use SWIFT. The two variables are the fixed fee amount, and the exchange rate given by the Thai bank. The first one is transparent, but I don't know that there is a reliable way to determine the exchange rates used by the different Thai banks for incoming SWIFT transfers in the various domestic currencies. 

 

But at the amount that you're talking about it might be worth researching, as it might easily save you some money. How much? 

 

I just asked WISE what is the fee for sending 2 mill using WISE using USD as the source currency. The fee is USD $302. 

 

If you get the same exchange rate with SWIFT, you would save 2 * 302 - 2 * 30 = USD $544.

 

The key would be to be certain about the exchange rate you'd be getting, as compared to the WISE exchange rate. 

[Equatorial]

37 minutes ago, BeastOfBodmin said:

I didn't find this mentioned in the thread, so apologies if this was already covered.

 

As far as "pension income" is concerned, it seems you only need to show a regular transfer from an account in another country to your Thai account. Is that correct? No need to prove it is from a state pension or occupational pension?

 

That's my understanding. For visa purposes, all that matters is the documented transfers from the foreign source to a Thai bank. The source of money (pension, savings, etc.) is immaterial. 

[DrJack54]

47 minutes ago, Equatorial said:

But at the amount that you're talking about it might be worth researching, as it might easily save you some money. How much? 

Previously I would check (compare) various options. 

This topic is discussed extensively in banking/finance forum. Zillion threads. 

I just checked WISE vs XE... and the winner is......