Can Foreign Currency Account Be Used For Retirement Visa

[Rob5060]

Can Foreign Currency Account Be Used For Retirement Visa

Seems a good way to even out exchange rates

[tutsiwarrior]

I had the same query and others on the forum have said that a foreign currency account with a thai bank has been accepted by some immigration offices for the equivalent 800k baht required deposit...

however I would strongly recommend that you confirm acceptance of this arrangement with your local immigration office before you approach with your extension application...there's no rule that would prohibit this arrangement but you will need to know what is accepted by your local office...

[Jingthing]

The other problem with trying anything fancy like this is that even if you get verbal approval at your office, that doesn't ever stop the possibility of a sudden policy change and/or staff/management change nullifying the previous approval.

[Kered]

I have had no problem in CHiang Mai using foreign currency accounts to cover the 800K but the bank letter has to include the current exchange rate so that the amount can be verified.

[TongueThaied]

The other problem with trying anything fancy like this is that even if you get verbal approval at your office, that doesn't ever stop the possibility of a sudden policy change and/or staff/management change nullifying the previous approval.

I just did it (w/ marriage visa), assuming money is money and a Thai bank is a Thai bank. Perhaps I was lucky. I did get the required letter from the bank that basically said, "Bozo has had $12,000US on deposit at this bank since (blah, blah), which is the equivalent of 402,000 Thai baht at today's exchange rate." I live in Phitsanulok. the last time I did this, I was reporting to Nan. Now we have a local office, and in July, I'll give it another shot.

[givenall]

I also used the foreign currency to buy a condo and they accepted the money, the exchange rate used for the currency is the rate when money was received. So the bank gave me a letter and they accepted it

[antony77]

sounds a good idea if Immigration accept foreign currency accounts. What rates do the Thai banks give for A$ and US$ for yearly deposits. I get about 6% (less 10%) witholding tax on deposit with an Australian Bank (in Australia)