Retirement Income Now Insufficient

[fullwhenempty]

I have a friend whose pension income has dropped from 55k thb per month to 38k. He was formerly able to just keep 140k in the bank and with his pension qualified for the retirement visa. Now that the pound has drastically sunk, he now needs 350k in the bank. He can scrape it together but has only one 6 weeks to go before he has to renew and is worried they may revoke his visa since he hasn't had it in his account for the mandatory 3 months.

What should he do and will they kick him out of Thailand?

[Lite Beer]

I have a friend whose pension income has dropped from 55k thb per month to 38k. He was formerly able to just keep 140k in the bank and with his pension qualified for the retirement visa. Now that the pound has drastically sunk, he now needs 350k in the bank. He can scrape it together but has only one 6 weeks to go before he has to renew and is worried they may revoke his visa since he hasn't had it in his account for the mandatory 3 months.

What should he do and will they kick him out of Thailand?

If using the combination of Income and Bank Deposit. It does not have to be in the bank for 3 months.

This is the official rule.

(5) Annual income plus bank account deposit totaling not less

than Baht 800,000 as of the filing date of application

[ignis]

Myself always go for my extension 3 weeks before the date stamp......... Go as normal to Immigration, if they say no or any problems, he would have plenty of time to pop outside of Thailand and get a multi entry 'O' visa

[Lite Beer]

Myself always go for my extension 3 weeks before the date stamp......... Go as normal to Immigration, if they say no or any problems, he would have plenty of time to pop outside of Thailand and get a multi entry 'O' visa

Good advise but he will not get a Multi Entry Non O Visa in Asia unless he is married to a Thai.

[fullwhenempty]

If using the combination of Income and Bank Deposit. It does not have to be in the bank for 3 months.

This is the official rule.

(5) Annual income plus bank account deposit totaling not less

than Baht 800,000 as of the filing date of application

Thank you. That's good news. I thought they had this rule to stop people just transferring the money in for a day or two then out again. When did they change it?

It's also good news if they decide to devalue the Thai baht. You can put the cash into gold or another asset but that's for another thread.

[ubonjoe]

The 3 month rule (60 days for new applications) still applies if you are using the money in bank only option.

The rule for a combined income and deposit has been in effect for at quite some time.