1 Year Retirement Visa

[Kipsie]

I currently have a 1 year retirement visa based on showing 800,000bht in a Thai bank a/c but am considering the options available to me when this expires in June 2011. With the exchange rate being so poor I would prefer to use the baht that I already have in Thailand. My monthly pensions from UK amount to just short of 1,000 pounds so I would like to know if it is possible to show a letter from the Embassy stating this amount and how much I would need to have in the Thai a/c to top it up.

Many thanks

Kipsie

[Lite Beer]

With an exchange rate of 47 , £1,000 would be 47,000 Baht a month.

Years income would be 564,000 Baht.

Bank balance would need to be 236,000 Baht.

[CDNinKS]

Just to be clear, if you can show an income letter from your embassy that you earn the equivalent of 800,000 baht per year is that sufficient?

I was under the impression that you could only use a letter of income to show a maximum of 50% of the 800,000 baht and that you would need to still show a Thai bank statement of a minimum of 400,000 baht on deposit.

[Mario2008]

If the income is from abroad, you can just show the letter from your embassy confirming your income. Your embassy decides what they consider as income and as proof. It can also be things such as rental incomes, etc.

If the income is from within Thailand you will need to show tax papers.

There is no rule that you can show only half of the income requirement. The options are:

800,000 in a bank account in Thailand

OR

income of 65,000 a month

Or

a combination of yearly income and money in the bank in Thailand showing 800,000 total.

[frodo77]

CDNinKS, I am also a Canadian. I just show the Canadian Embassy in Bangkok my tax assessment. Also its based on gross income. However, I still don't understand why we need 65,000 per month when a good salary for a Thai is much much less than that.

[lopburi3]

You need 65k because that is the requirement for a person without Thai nationality to stay in Thailand for retirement. Many countries have fees that are higher or lower or do not allow at all. It really has little or nothing to do with local income.

[CDNinKS]

OK, thanks everyone for the info, that is going to make life a bit easier for me.

CDNinKS, I am also a Canadian. I just show the Canadian Embassy in Bangkok my tax assessment.

I'm a non-resident, so don't get T-4's anymore, but hopefully the CDN embassy will accept my pay slips as proof.

[Kipsie]

Hi there!

Thank you all for the information it was a great help.