Retirement Visa

[californiajoe]

What are the financial requirements for a Retirement Visa?

[Lite Beer]

(4) Account deposit with a bank in Thailand of not less than

800,000 Baht as shown in the bank account for the past 3 months at the filing date of the application. For the first year, the applicant should have that amount in his bank account for not less than 60 days or

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

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

The above for a 12 Month Extension based on Retirement if you are over 50.

[retiredusn]

Are you applying in your country or Thailand?

Either 65000baht pension or 800000baht in bank or a combination of the two

[Mario2008]

Are you talking about a "retirement visa" an O-A long stay visa from an embassy abroad or an extension of stay from immigraiton within Thailand?

The requirement are more or less the same.

[klons]

(4) Account deposit with a bank in Thailand of not less than

800,000 Baht as shown in the bank account for the past 3 months at the filing date of the application. For the first year, the applicant should have that amount in his bank account for not less than 60 days or

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

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

The above for a 12 Month Extension based on Retirement if you are over 50.

I've been wondering (as I am too lazy to search). Does the bank account have to be in the Farang's name only? or could it be a joint

account with a Thai wife. Are there any rules about that?

[Mario2008]

The money has to be yours, so no joint bankaccount.

[Naam]

The money has to be yours, so no joint bankaccount.

joint account no problem if farang wife.

[ubonjoe]

The money has to be yours, so no joint bankaccount.

joint account no problem if farang wife.

Not true at all immigration offices unless you have 1.6 million baht or more in the account.

[Mario2008]

The money has to be yours, so no joint bankaccount.

joint account no problem if farang wife.

That would not be my interpretation of the rules, but might depend on the office you are using.

[antony77]

(4) Account deposit with a bank in Thailand of not less than

800,000 Baht as shown in the bank account for the past 3 months at the filing date of the application. For the first year, the applicant should have that amount in his bank account for not less than 60 days or

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

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

The above for a 12 Month Extension based on Retirement if you are over 50.

I've been wondering (as I am too lazy to search). Does the bank account have to be in the Farang's name only? or could it be a joint

account with a Thai wife. Are there any rules about that?

If you are married to a Thai, the requirements for a retirement visa are only Bt400,000

or an income of Bt40,000 a month.

[ubonjoe]

If you are married to a Thai, the requirements for a retirement visa are only Bt400,000

or an income of Bt40,000 a month.

That would be for an extension based upon marriage to a Thai not retirement.

[ubonjoe]

A duplicate post deleted.

[Lite Beer]

If you are married to a Thai, the requirements for a retirement visa are only Bt400,000

or an income of Bt40,000 a month.

As said that is based on Marriage . A totally different procedure.

[Artisi]

(4) Account deposit with a bank in Thailand of not less than

800,000 Baht as shown in the bank account for the past 3 months at the filing date of the application. For the first year, the applicant should have that amount in his bank account for not less than 60 days or

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

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

The above for a 12 Month Extension based on Retirement if you are over 50.

I've been wondering (as I am too lazy to search). Does the bank account have to be in the Farang's name only? or could it be a joint

account with a Thai wife. Are there any rules about that?

Yes there are rules covering this but I'm also TOO lazy to be bothered pointing you in the right direction.

[honey2000]

I have in excess of Baht800,00 in a DEPOSIT ACCOUNT, and only half that in my CURRENT ACCOUNT.

The Deposit acount is for 3 years and is a year old.

Can you please advise if the above will met the requirements.

I also have a modest UK pension, will it be necessary to get Embassy verification in this case.?

Thank you very much.

[ubonjoe]

I assume you left a zero off of the 800,00 number ane meant 800,000. If it is a fixed deposit account it is no problem.

The current account will be a good back up if it shows regular deposits and withdrawls.

It seems to me you have more than you need to show.

[Lite Beer]

Most offices will allow a Fixed Deposit account, not all.

If you want to use your pension for the application you need the letter from the Embassy.

[klons]

(4) Account deposit with a bank in Thailand of not less than

800,000 Baht as shown in the bank account for the past 3 months at the filing date of the application. For the first year, the applicant should have that amount in his bank account for not less than 60 days or

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

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

The above for a 12 Month Extension based on Retirement if you are over 50.

I've been wondering (as I am too lazy to search). Does the bank account have to be in the Farang's name only? or could it be a joint

account with a Thai wife. Are there any rules about that?

Yes there are rules covering this but I'm also TOO lazy to be bothered pointing you in the right direction.

That's OK. No need to point me anywhere. I have an extension based on the pension. It is possible my pension plan may go bust

someday in the future. That is why I am only wondering at this point.

[honey2000]

I assume you left a zero off of the 800,00 number ane meant 800,000. If it is a fixed deposit account it is no problem.

The current account will be a good back up if it shows regular deposits and withdrawls.

It seems to me you have more than you need to show.

Sorry about the zero, one more quibble please.

Thai Bank ? My ac's are with HSBC.(Rama IV).is this deemed as Thai ?

They are not allowed, as far as I know. to participate in Direct Debits for Utilities etc.

Thanks so Much for your very prompt reply.

I will follow up as to success or not.

[ubonjoe]

Your bank accounts should be ok but you should check with immigration first. If you are using Bangkok immigration I think you will find them to be more knowledgeable about different types of bank accounts than some of the smaller offices.

[PaddyThai]

Could the 800,000 be lodged in a fixed rate bank account and left there for the duration of retirement or does 800,000 have to be brought into the country every year?

[Jingthing]

Could the 800,000 be lodged in a fixed rate bank account and left there for the duration of retirement or does 800,000 have to be brought into the country every year?

Those are two questions. Immigration usually likes to see that the money in the bank account is LIQUID so it would depend on type of account you are talking about and also your immigration officers. The second question is simple: No. You do not need to bring in any set amount of money every year.

[Chaimai]

Could I just ask for clarification on the 65,000 Baht income per month.

I think I read that this has to be evidenced by monthly receipts into your Thai bank account ?

In my case I have regular payments into my UK bank account - if I subsequently transfer 65,000 Baht each month to the Thai bank account by SWIFT, will this qualify and do I need to evidence the original source of the funds ?

[Jingthing]

I think I read that this has to be evidenced by monthly receipts into your Thai bank account ?

No, it is evidenced by a letter you obtain from your embassy and give to Thai immigration. You will need a Thai bank account of some amount but if you are using income only, you don't need to transfer in one baht. There may be some immigration offices with policies that differ, but that is the official policy. The general rule for bank account and/or income qualification is that NEW money DOES NOT need to be freshly transferred in EVERY YEAR. You merely have to meet the financial requirements. For example someone using the bank method if they spent down 400K they would just do a TOP UP, no need to transfer in a fresh 800K.

Edited June 1, 2009 by Jingthing

[ubonjoe]

Could the 800,000 be lodged in a fixed rate bank account and left there for the duration of retirement or does 800,000 have to be brought into the country every year?

You can use a fixed deposit account for your money. But immigration will in most cases want to see another account that shows deposits (or transfers) and withdrawls.

[ubonjoe]

Could I just ask for clarification on the 65,000 Baht income per month.

I think I read that this has to be evidenced by monthly receipts into your Thai bank account ?

In my case I have regular payments into my UK bank account - if I subsequently transfer 65,000 Baht each month to the Thai bank account by SWIFT, will this qualify and do I need to evidence the original source of the funds ?

You need a letter from you embassy to prove your income of 65,000 baht per month.

Some immigration offices will also want you to show a bank account as a back up to the letter. The account does not have to show the full 65,000 baht coming in. Just some transfer and withdrawals on a regular basis. Some will even want a letter from the bank confirming the account balance.