Re 800,000 Baht In Thai Bank Account For Retirement Visa

[daveb1]

If you have 800,000 baht in a thai bank account for a possible future retirement visa and it drops say 20 or 30,000 baht if you then top it up again does the 3 month countdown start again from that point or is from when you top it back up?

just wondered

cheers

[gotlost]

Yes it does and you posted in the wrong form.

[Rabbi]

Not certain where you are or your Nationality but it appears that you are not aware of the full implications and requirements for getting a Non-Imm O Retirement Visa for the Kingdom of Thailand.

I am happy to explain if you are in Pattaya otherwise I would suggest you speak to a professional about It as there are several combinations to achieving the 800K of assets [bank] &/or Income [Pensions, interest etc]

Cheers &Good Luck

[InterestedObserver]

The full 800k baht must be seasoned in a Thai bank account for 2 months for 1st time applicants (3 months for subsequent extensions) on the day you apply for the 1 year extension of stay based on retirement.

Edited June 12, 2010 by InterestedObserver

[daveb1]

The full 800k baht must be seasoned in a Thai bank account for 2 months for 1st time applicants (3 months for subsequent extensions) on the day you apply for the 1 year extension of stay based on retirement.

But can the 800,000 baht have been sitting in your thai bank account for a couple of years or do you have to transfer a fresh 800,000 baht 2 months before?

[ExpatArchie]

Not certain where you are or your Nationality but it appears that you are not aware of the full implications and requirements for getting a Non-Imm O Retirement Visa for the Kingdom of Thailand.

I am happy to explain if you are in Pattaya otherwise I would suggest you speak to a professional about It as there are several combinations to achieving the 800K of assets [bank] &/or Income [Pensions, interest etc]

Cheers &Good Luck

Stuff and Nonsense!!!. The requirements are simple and straightforward. The answers to any possible questions the OP may have will be found through this forum. There are contibutors here, such as Lopburi3, with unmatched experience and knowledge.

[daveb1]

Thanks Archie you are right and actually I am fully aware of all the rules regarding retirement visas it was just this small point I need some clarification on if anyone can help

[InterestedObserver]

But can the 800,000 baht have been sitting in your thai bank account for a couple of years or do you have to transfer a fresh 800,000 baht 2 months before?

The 800k can be sitting in your Thai bank account for years. Where it came from is a separate issue, if asked, and you should be prepared to show where your living expenses come from.

Edited June 12, 2010 by InterestedObserver

[jfchandler]

The 800K in funds can have been in your Thai bank account for any length of time previously. It doesn't have to be a new transfer timed just before your retirement extension application.

However, as stated above, it does have to have been on deposit for the entire two month (first time) or three months (subsequent times) prior to your retirement extension applications.

About the balance in the account falling below the required 800K for some temporary period, perhaps some offices or officers might let it pass if it was for a short time and small amount below.

But the rule they'd be likely to enforce would be to the letter, meaning the timing period would be restarted once your balance came back above the 800K amount again.

Also, as suggested above, for retirement extensions, you also have the option of doing a combination of monthly income and deposit in a Thai bank. If you take that approach, then there is no "seasoning" period required for the Thai bank deposits, and you'd only need to get an Embassy income letter for whatever amount of monthly income you might be claiming.

Assuming you have some amount of monthly income that is documentable (and can be from any source, inside or outside Thailand), that combination approach could be a way around the dropping balance/seasoning problem you mentioned.

[Tod Daniels]

Most people I know who live 'close to the edge' routinely use some of their 800K baht during the course of the year to live on; then simply 'top it up' BEFORE they go reapply for their extension of stay.

Of course it goes without saying that you MUST follow the previously posted rules about 2 months seasoning for 1st time applicants and 3 months seasoning for subsequent extensions.

[ExpatArchie]

The 60 day period is the minimum period. 2 years? No problem, except the derisory interest paid. The requirement is to demonstrate you have money for living expenses/emergency for the coming year.

Added subsequently:

apologies.....I was slow to press the send button and now see 4 other contributors had already answered your question, and questions you hadn't even asked. Which proves the point in my previous post about the expertise to be found here.

Edited June 12, 2010 by ExpatArchie

[ExpatArchie]

The 800K in funds can have been in your Thai bank account for any length of time previously. It doesn't have to be a new transfer timed just before your retirement extension application.

However, as stated above, it does have to have been on deposit for the entire two month (first time) or three months (subsequent times) prior to your retirement extension applications.

About the balance in the account falling below the required 800K for some temporary period, perhaps some offices or officers might let it pass if it was for a short time and small amount below.

But the rule they'd be likely to enforce would be to the letter, meaning the timing period would be restarted once your balance came back above the 800K amount again.

Also, as suggested above, for retirement extensions, you also have the option of doing a combination of monthly income and deposit in a Thai bank. If you take that approach, then there is no "seasoning" period required for the Thai bank deposits, and you'd only need to get an Embassy income letter for whatever amount of monthly income you might be claiming.

Assuming you have some amount of monthly income that is documentable (and can be from any source, inside or outside Thailand), that combination approach could be a way around the dropping balance/seasoning problem you mentioned.

I am on retirement extension based on occupational pension. Like others, I have witnessed with alarm the decline in the value of the GBP. Another few baht and I will be short of the 65k/month. Are you certain that if I have to go the combination method the money does not need to be seasoned. I know the Police Order does not say it has to be, but we also know that some immigration offices have their own interpretation of the rules.

[Mario2008]

If you go for the combined option, the money does not have to be seasoned.

[lovelomsak]

I am never sure of this either. I always take a letter from the bank showing 800,000 baht plus a letter from the embassy showing income of greater than 65,000 baht amonth. I feel it best to do over kill than have problems. I tried one time with 400,000 in bank and embassy letter of 65,000 and spent the whold day at immigration while they decided to give me an extension or not, never again will that happen.

[Lite Beer]

2.22 In the case of a retiree: Permission will be granted for a period of not more

than 1 year at a time.

(1) The alien has obtained a temporary visa (NON-IM);

(2) The applicant is 50 years of age or over;

(3) Proof of income of not less than Baht 65,000 per month; or

(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

[bdenner]

Just another question:- Can I apply for the extension at any time through the 12 month Non 'O' visa period or do I have to see it out and do the 90 day visa runs. I made a mistake and bought a 12 month instead of a 3 month Non 'O'.

Edit: Typo

Edited June 12, 2010 by bdenner

[Mario2008]

You can do it during the last 30 days of your permission to stay, this can be any 90 day entry. You don't have to wait till the visa itself runs out.

[jfchandler]

Yes, certain. When you use the "combined" method, which only applies for retirement extensions -- not marriage based extensions, there is NO seasoning requirement for the bank deposit funds...

That said, as too many people have unfortunately experienced, there may well be particular immigration offices around the country and/or individual officers who have their own "unique" take on the requirements that's different from the actual law. If one happens to be unlucky enough to run into one of those exceptions, it's certainly enough to give a headache.

On this particular issue, I'd say go ahead and expect the rules will be followed, and if you're worried, it never hurts to bring along a photocopy of the pertinent Police Order language in Thai and/or English...just in case.

I am on retirement extension based on occupational pension. Like others, I have witnessed with alarm the decline in the value of the GBP. Another few baht and I will be short of the 65k/month. Are you certain that if I have to go the combination method the money does not need to be seasoned. I know the Police Order does not say it has to be, but we also know that some immigration offices have their own interpretation of the rules.

[jfchandler]

As the old saying goes, the more the merrier...

An applicant really doesn't want to be falling short of the actual requirements...or face denial. But there's no problem with exceeding the requirements, particularly if you've had some problem with that particular immigration office in the past.

Just so long as they don't think you're too rich, and start asking you for a piece of the pie...

I am never sure of this either. I always take a letter from the bank showing 800,000 baht plus a letter from the embassy showing income of greater than 65,000 baht amonth. I feel it best to do over kill than have problems. I tried one time with 400,000 in bank and embassy letter of 65,000 and spent the whole day at immigration while they decided to give me an extension or not, never again will that happen.

[georgy]

I am wondering how fixed deposits at a thai bank are counted towards the 800,000 THB.

scenario:

saving deposit with 600k, on account more then a year

plus fixed deposit 1million, fixation period 9 months which will end approx 4 weeks after the extension of stay application

so both accounts fullfill the 2 respective 3 months request, just the fixed deposit will not be available for immidiate cash, but 4 weeks later it will.

[moe666]

I am wondering how fixed deposits at a thai bank are counted towards the 800,000 THB.

scenario:

saving deposit with 600k, on account more then a year

plus fixed deposit 1million, fixation period 9 months which will end approx 4 weeks after the extension of stay application

so both accounts fullfill the 2 respective 3 months request, just the fixed deposit will not be available for immidiate cash, but 4 weeks later it will.

I think there is a very indeapth report about the refusal to of Sumai immigration refusing to use a fixed deposit account for retirement qualification.

[Lite Beer]

Fixed accounts are usually accepted.

Ask your particular Imm. Office if they do.

[lopburi3]

A fixed deposit amount is always available and should be accepted. Only interest would be lost if taken out early.