Immigration Clarifies Bank Account Rules

[clbelljr]

My experience has been that my retirement Visa was approved with a medical physical and proof of 800,000 Baht in the bank. My minimum income is close to the 65,000 Baht limit so it does make it difficult for me at Visa time. I have to import money to my Thai bank account because of financial situations in Europe.

I have read in the new laws that you have to prove that you have a total income of 800,000 Baht a year - Residual income included. This I meet quite easily. I would like confirmation of the above statement. Since I speak very little Thai I can't get the answer myself from the very poor english speaking government officials I have met in Bangkok.

I do not wish to have a Thai wife since I have had 3 marriages in my life go sour. A girlfriend is enough stress - especially a Thai girlfriend!!

[lopburi3]

My experience has been that my retirement Visa was approved with a medical physical and proof of 800,000 Baht in the bank. My minimum income is close to the 65,000 Baht limit so it does make it difficult for me at Visa time. I have to import money to my Thai bank account because of financial situations in Europe.

I have read in the new laws that you have to prove that you have a total income of 800,000 Baht a year - Residual income included. This I meet quite easily. I would like confirmation of the above statement. Since I speak very little Thai I can't get the answer myself from the very poor english speaking government officials I have met in Bangkok.

I do not wish to have a Thai wife since I have had 3 marriages in my life go sour. A girlfriend is enough stress - especially a Thai girlfriend!!

It should not be any problem for you as you do not have to have both. If you can keep 400k in bank they would probably only be interested that you have income in the amount of 400k per year so that total would be 800k. As long as money is from outside Thailand you should be able to use it to count for extension of stay.

As you seem to have the 800k in bank now I would just use that money for daily living and replace every few months what you have spent. It is always good to have cash immediately available in an emergency (and that can be something other than the girl friend).

[Limbo]

Mr. Khun ?,

If your income is taxable in your country it will not be so in Thailand.

If it is not taxable in your country it will be taxable in the country you live, might be Thailand.

If you not live of your income but of your savings, you don't have to pay taxes in Thailand (your savings are supposed to have been taxed in the past).

So follow the principle: First in first out (and add your income to your savings).

[Whiplash]

I stay in Chiang Mai and I have just made my second extension for the 1 year marriage-visa, and I did'nt have to show ANY evidence of monthly money transfers to my account here in Thailand.

I only had to show an embassy verified document that I had the monthly requirements every month from a source outside Thailand.

[Khun ?]

This has been discussed several times before. what is being clarified is

must the full amount be kept in the bank.... Answer is no you can have part and prove income for the rest. Also before, mentioned was, that if

you keep more balance less hassle when renewal time comes. If you

show full amount and the balance stays at full amount no reason for them to ask what you are living on you have enough in the bank and if you have no withdrawls no reason to expect it is borrowed money.

If they do ask how you have been living your bank statements will show the withdrawls not ATM reciepts. ATM receipts may not have all the info needed such as name ( been about 5 months since I used mine, so you could pick them up off the ground or use someone elses ATM receipts).

[Quidnovi]

No interets in Krung Thai bank, I have saving account

[sriracha john]

No interets in Krung Thai bank, I have saving account

As a perfect example of the wonderful consistencies in Thailand, I have a Krung Thai Bank savings account and DO receive interest.

[ka12345]

No interets in Krung Thai bank, I have saving account

As a perfect example of the wonderful consistencies in Thailand, I have a Krung Thai Bank savings account and DO receive interest.

I suspect it has to do with whether you have a tax id number or not. For taxation reasons they probably don't pay interest on accounts that belong to people with no tax id number...

[RDN]

This has been discussed before:

http://www.thaivisa.com/forum/index.php?sh...=0entry136731

Krung Thai normally gave me interest in June and December.

My new Phuket account received interest in June, my Bangkok account did not.

I did get interest on my Bangkok account in December last year. So Bangkok have stopped giving me interest. Maybe Phuket will stop soon.

Time to change bank!

[RDN]

“Foreigners applying for a one-year permit to stay based on marriage or retirement do not have to freeze the money in their accounts,” explained Pol Capt Krissarat Nuesen, Deputy Inspector of the Phuket Provincial Immigration Office.

Firstly, I would like to say that Pol Capt Krissarat Nuesen at Phuket Immigration is a "good guy". He is often quoted in the Phuket Gazette, sometimes on the front page, and what he says is usually very clear, easily understood and fair.

-- I would think it would quite common for a bank account qualifier to fund the account before the visa renewal with an annual wire transfer, and then spend down those funds during the year because that is an readily accessible and non income earning pool of money, and then refund again soon before the application time. It is understandable that immigration might look at this pattern suspiciously.

I disagree that immigration look at "an annual wire transfer before extension" as suspicious. They know some retirees like to get their pension/interest payed annually and what they want to see is the money being used over the year for living expenses. I've extended twice, each time with precisely that pattern of income/outgoings over the year.

Wouldn't proof that the wire transfer came from abroad from your existing overseas account prove things are legit?

I assumed you meant a wire transfer from abroad in your first quoted text above. Sorry if I misunderstood.

[JimGant]

Capt Krissarat added that proof of guaranteed monthly income paid into a Thai bank account in the applicant’s name could also be used to prove that the applicant was financially sound. In this case the figures are 40,000 baht or 65,000 baht a month, respectively.

Mmmm. My military retirement check is direct deposited into my US bank account --and I'm not even sure I could opt to have it deposited into my Thai bank account, even if I wanted to (I don't think you can direct deposit US Social Security checks into a Thai bank acct(?)).

This seems to be a new interpretation (surprise, surpise), as I thought you only had to show a verified pension payment -- but never saw a requirement that same had to be paid into a Thai bank. But, I'm just doing mental gymnastics, as it seems a lot easier just to ship money to my Thai bank, ensure I have the required amount on hand at renewal time, and use Thai ATM card for daily living. This solves two situations: 1. Don't have to waltz to the US Consulate every year for pension verification. 2. Don't have to pay the 1% foreign exchange fee plus $2 fee everytime I use my US ATM card. And even tho' I pay a $50 wire fee, this works out to only about 1/4% if I wire the full 800k baht amount annually. And some on this forum have even saved wire fees by transfering money via a check/debit card, althought I haven't tried this yet.

Verifying a pension, I guess, would be the way to go if you have alternative investment options with the money that would otherwise be tied up in your Thai bank account. But I've seen on this forum that even if you meet the requirement strictly with a pension, Immigration still wants to see a bank account with some amount of baht in it. Maybe this is no longer true, however.

[JimGant]

I stay in Chiang Mai and I have just made my second extension for the 1 year marriage-visa, and I did'nt have to show ANY evidence of monthly money transfers to my account here in Thailand. I only had to show an embassy verified document that I had the monthly requirements every month from a source outside Thailand.

Whiplash,

Did you have to show proof of having a Thai bank acccount, and if so, were they interested in any particular level of funding?

[bridros]

A quick question concerning the 800K. The rule states women don't have proof of income requirements, does that mean that my wife and I, both from the US and over fifty need only tie up 800K for the both of our visas?

[lopburi3]

As long as you have a legal marriage your wife will be covered by your long stay visa and the one 800k requirement.

[Baaksida]

A quick question concerning the 800K. The rule states women don't have proof of income requirements, does that mean that my wife and I, both from the US and over fifty need only tie up 800K for the both of our visas?

My guess is, that this rule applies only to the female spouse of a permanent resident of Thailand. (Best thing would be to check with the local immigration office.)

As for the interest on savings accounts, you may or may not be able to open a savings account when not possessing a work permit, and you may or may not receive interest on it. TIT - and I had wildly different experiences at different branches of the same bank...

[astral]

No interets in Krung Thai bank, I have saving account

As a perfect example of the wonderful consistencies in Thailand, I have a Krung Thai Bank savings account and DO receive interest.

So do I.

[lopburi3]

A quick question concerning the 800K. The rule states women don't have proof of income requirements, does that mean that my wife and I, both from the US and over fifty need only tie up 800K for the both of our visas?

My guess is, that this rule applies only to the female spouse of a permanent resident of Thailand. (Best thing would be to check with the local immigration office.)

As for the interest on savings accounts, you may or may not be able to open a savings account when not possessing a work permit, and you may or may not receive interest on it. TIT - and I had wildly different experiences at different branches of the same bank...

A long stay visa allows spouse to follow on non immigrant visa.

You do not even need a non immigrant visa to open a passbook savings account, much less a work permit. It is true that you may have to talk with several banks or branches however.

[dr_Pat_Pong]

A quick question concerning the 800K. The rule states women don't have proof of income requirements, does that mean that my wife and I, both from the US and over fifty need only tie up 800K for the both of our visas?

My guess is, that this rule applies only to the female spouse of a permanent resident of Thailand. (Best thing would be to check with the local immigration office.)

As for the interest on savings accounts, you may or may not be able to open a savings account when not possessing a work permit, and you may or may not receive interest on it. TIT - and I had wildly different experiences at different branches of the same bank...

Not at all. It is just as Lop says. A retiree can sponsor his legal wife without any additional funds. She'd need a Non-Immigrant O visa to extend.

[Baaksida]

Not at all. It is just as Lop says. A retiree can sponsor his legal wife without any additional funds. She'd need a Non-Immigrant O visa to extend.

Wow, that's interesting!

Well, one shouldn't expect things to be logical in this country after all...

(I mean, how come, that a foreigner couple needs only as much -800,00 baht- per year for living expenses as a single male retiree is expected to spend alone?)

Nightlife in LOS = 400,000 baht per year??

[dr_Pat_Pong]

Not at all. It is just as Lop says. A retiree can sponsor his legal wife without any additional funds. She'd need a Non-Immigrant O visa to extend.

Wow, that's interesting!

Well, one shouldn't expect things to be logical in this country after all...

(I mean, how come, that a foreigner couple needs only as much -800,00 baht- per year for living expenses as a single male retiree is expected to spend alone?)

Nightlife in LOS = 400,000 baht per year??

It must be that. A man married to a Thai lady only needs 400,000 baht. Obviously 2 can live as cheaply as one, but only for half as long.

[bridros]

Thanks for the info my retirement to LOS just took a jump forward!

[dr_Pat_Pong]

Thanks for the info my retirement to LOS just took a jump forward!

Go for it Bridros. Sometimes ... only sometimes ... we are the bearers of good news.