Clarification On Retirement Visa Requirements

[rainman]

i just need a quick clarification for the retirement visa requirements that i found nowhere exactly on the forums. i have a family member who is over 50 and would like to retire in thailand the next year. he gets a pension of 60,000+ baht every month but doesn't want to open a bank account with 800k baht in thailand just yet. is the retirement visa still an option? i thought i read somewhere its 800k in the bank -or- monthly pension of a certain amount, but i'm not sure..

anyone knows?

[rainman]

i think i found the answer to my own question in another forum post:

Requirements:

A copy of bank statement showing a deposit at the amount equal to not less than 800,000 Baht

-or-

An income certificate (an original copy) with a monthly income of not less than 65,000 Baht

-or-

Or a deposit account plus a monthy income totalling not less than 800,000 Baht.

[lopburi3]

There must be a bank account and a letter from the bank is going to be required. The amount in the account only has to cover any pension Embassy letter shortfall but there must be a bank account even if you have more than 800k pension.

[JimGant]

Lop,

Can that bank account be a joint one (in my case, with the wife)?

I plan to use my pension, which is above the minimum requirement, as the requirement filler; thus I won't need a bank account with 800k in it. But since I *do* need to show evidence of a bank account, hopefully the joint one with the wife will do........

Oh, I noticed in one of your posts that you're switching from a 'support' extension to a 'retirement' extension. Any chance of sharing your rationale?

Thanx.

[JAS21]

Lop,

Can that bank account be a joint one (in my case, with the wife)?

I plan to use my pension, which is above the minimum requirement, as the requirement filler; thus I won't need a bank account with 800k in it. But since I *do* need to show evidence of a bank account, hopefully the joint one with the wife will do........

Oh, I noticed in one of your posts that you're switching from a 'support' extension to a 'retirement' extension. Any chance of sharing your rationale?

Thanx.

<{POST_SNAPBACK}>

Have a look at www.thaiconsul-uk.com you can also phone them..they are very helpful. Phone No 01482 581668. Also much easier and quicker to get visa from them..they are in Hull.

I believe that if you have a thai wife then the bank requirements are 400K.

I believe that the bank account must be in your own name only

I believe that you can make up any pension shortfall with investment income.

My wife is thai, I am going for the pension only. Dont forget that The Thai rules change frequently(ie requirments go upwards) and you need to meet the required income/deposit each year.

[tomallison]

I have had two retiremant extensions showing my Bank Account, 800k+. The Account is in Joint names - no problems encountered.

[lopburi3]

No problem with joint account with wife. Mine is the same.

[shotover]

Maybe I'm missing something in this initial post, but it's my understanding and experience that if a person is applying for a Non-immigrant O retirement visa through a Thai consulate or embassy outside Thailand using pension income to meet financial requirements, then having a Thai bank account at the time of application is not necessary.

However, if you are extending an existing retirement visa at a Thai Immigration office, then you are required to show that you have either 800,000 baht in a Thai bank, or that you have deposited at least 65,000 per month in a Thai bank account from cash transfers originating outside Thailand.

[lopburi3]

Maybe I'm missing something in this initial post, but it's my understanding and experience that if a person is applying for a Non-immigrant O retirement visa through a Thai consulate or embassy outside Thailand using pension income to meet financial requirements, then having a Thai bank account at the time of application is not necessary.

However, if you are extending an existing retirement visa at a Thai Immigration office, then you are required to show that you have either 800,000 baht in a Thai bank, or that you have deposited at least 65,000 per month in a Thai bank account from cash transfers originating outside Thailand.

<{POST_SNAPBACK}>

OP says nothing about where application might be made.

If you apply in your home country you may be able to obtain the O-A type which would not require deposit until the next year in Thailand but if you want to obtain a visa elsewhere it will be a single entry type for 90 days and you will need the deposit at the time of extension from immigration.

There is no requirement to show any deposit of 65k per month at any time. You either have 800k in a bank account or certification of pension from your Embassy with a bank account (and at least any shortfall of pension in it).

[shotover]

"There is no requirement to show any deposit of 65k per month at any time. You either have 800k in a bank account or certification of pension from your Embassy with a bank account (and at least any shortfall of pension in it)."

Thanks for this clarification. I had recalled earlier posts in this forum that indicated, when applying for a retirement visa extension, that Thai Immigration looked at the applicant's Thai bank book for proof that funds were being transferred from overseas, in order to demonstrate that the applicant is not earning income working in Thailand under a retirement visa.

Apparently, this is not the case, and a certification of pension from the Embassy alone is sufficient to meet the financial requirements for extending the Retirement visa.

Then again, on any given day, any given Immigration official at Suan Phlu can apply a different process.

[lopburi3]

You must have a bank account but if you have sufficient income from pension it does not have to have any fixed amount in it. That bank letter and copies of passbook will, however, always be required.

When book/deposits are more likely to be examined closely is for those using support Thai wife; and especially those under age 50.

[rainman]

There is no requirement to show any deposit of 65k per month at any time.  You either have 800k in a bank account or certification of pension from your Embassy with a bank account (and at least any shortfall of pension in it).

<{POST_SNAPBACK}>

that's interesting. so the money of the pension can really go to an offshore account as long as there is proof from the embassy that there is a pension, right? the pension money doesn't necessarily need to come into a thai bank account every month?

[lopburi3]

There is no requirement to show any deposit of 65k per month at any time.  You either have 800k in a bank account or certification of pension from your Embassy with a bank account (and at least any shortfall of pension in it).

<{POST_SNAPBACK}>

that's interesting. so the money of the pension can really go to an offshore account as long as there is proof from the embassy that there is a pension, right? the pension money doesn't necessarily need to come into a thai bank account every month?

<{POST_SNAPBACK}>

Right.

[jayenram]

that's interesting. so the money of the pension can really go to an offshore account as long as there is proof from the embassy that there is a pension, right? the pension money doesn't necessarily need to come into a thai bank account every month?

<{POST_SNAPBACK}>

It may be prudent to keep ATM receipts (if you are drawing from overseas). If you only have, say Bht 20,000.00 in a Thai bank and this is static, then they may wonder how you are managing to live. Then again, each officer has different ideas.

[Nomad97]

I have read the above comments with interest and I will say that my experience of the requirements for the 12-month "retirement" visa is slightly different than above. I have the letter from the British Embassy stating my income (pension) well in excess of the 65K per month (in fact over 100K per month). However, in addition, two different immigration offices have insisted on a letter from the bank manager, a copy of the passbook and a separate bank statement for the previous 12 months. Both offices checked to see if more than 65K was transferred each and every month. A couple of years ago, and because of a low exchange rate, I only transferred 64K one month. For the year I had transferred well over 1 million. However, Immigration was pedantic and they would not renew the visa without me opening another bank account with some 20 or 30K on account. I know there is nothing about this in the rule book but I complied with the request and the 12-month visa was duly issued.

I am also expecting problems with my current immigration office (Cap Cheoun) about the 65K per month requirement. Last year I had in excess of 70K each month, usually 73 to 75K. They said they wanted to see 80K per month! I tried to explain that this was not necessary and the requirement was only in excess of 65K per month, not in excess of 80K. They issued the visa but only because I had also more than 150K on the bank account.

I am paying a visit to Cap Cheoun later this week, to hand in my 90-day report and obtain a letter of residency for motor cycle log book change. I will also see what the latest is regarding the "retirement" visa. If needs be I will change to the 12-month "married" visa because of the lower finacial requirements (40K per month). However, I prefer the "retirement" visa because of its same day issue, provided you meet the quirks of the local office or Immigration officer!

[Maestro]

I know there is nothing about this in the rule book but I complied with the request and the 12-month visa was duly issued.

It looks like somebody in that immigration office does not like your face. Tough luck!

[lopburi3]

I have read the above comments with interest and I will say that my experience of the requirements for the 12-month "retirement" visa is slightly different than above. I have the letter from the British Embassy stating my income (pension) well in excess of the 65K per month (in fact over 100K per month).  However, in addition, two different immigration offices have insisted on a letter from the bank manager, a copy of the passbook and a separate bank statement for the previous 12 months. Both offices checked to see if more than 65K was transferred each and every month. A couple of years ago, and because of a low exchange rate, I only transferred 64K one month. For the year I had transferred well over 1 million.  However, Immigration was pedantic and they would not renew the visa without me opening another bank account with some 20 or 30K on account.  I know there is nothing about this in the rule book but I complied with the request and the 12-month visa was duly issued.

I am also expecting problems with my current immigration office (Cap Cheoun) about the 65K per month requirement.  Last year I had in excess of 70K each month, usually 73 to 75K.  They said they wanted to see 80K per month!  I tried to explain that this was not necessary and the requirement was only in excess of 65K per month, not in excess of 80K. They issued the visa but only because I had also more than 150K on the bank account. 

I am paying a visit to Cap Cheoun later this week, to hand in my 90-day report and obtain a letter of residency for motor cycle log book change.  I will also see what the latest is regarding the "retirement" visa.  If needs be I will change to the 12-month "married" visa because of the lower finacial requirements (40K per month). However, I prefer the "retirement" visa because of its same day issue, provided you meet the quirks of the local office or Immigration officer! 

<{POST_SNAPBACK}>

Was your bank account almost empty? Bangkok does not seem to ask anyone for a specific amount but believe that 200k may be what they would like to see on hand. This amount is also what outside Consulates sometimes ask to see to issue multi entry visa. Let us know what you find out.

[Guest endure]

Does the British Embassy/consulate make a charge for the certificate of income? Do you actually have to prove your income before they'll issue it? (I've read on here that this isn't necessary if you're a US citizen). Is the certificate enumerated in baht or sterling? If sterling is there a standard exchange rate used by Thai Immigration?

[Eneukman]

It was mentioned in an earlier post that any shortfall in the 65,000 baht monthly income requirement can be covered by investment income. How do you prove this?

My pension is less than 65,000 baht per month but my total income will be well in excess of this.

Alan

[lopburi3]

It was mentioned in an earlier post that any shortfall in the 65,000 baht monthly income requirement can be covered by investment income. How do you prove this?

My pension is less than 65,000 baht per month but my total income will be well in excess of this.

Alan

<{POST_SNAPBACK}>

It can be covered by using your bank deposit in a Thai bank along with the Embassy pension letter.

[Nomad97]

Does the British Embassy/consulate make a charge for the certificate of income? Do you actually have to prove your income before they'll issue it? (I've read on here that this isn't necessary if you're a US citizen). Is the certificate enumerated in baht or sterling? If sterling is there a standard exchange rate used by Thai Immigration?

<{POST_SNAPBACK}>

Yes, the Embassy does make a charge for providing the certified letter of income (I think about 2250 baht from memory) and supporting evidence is required, e.g. pension/income statements from the UK. The Embassy letter clearly states how much income you receive each year, after UK tax, in Pounds Sterling. I do not know what exchange rate is used by Thai Immigration to convert from Sterling to Baht.

For Lopburi3, yes my bank account was minimal when I applied for the first 12-month extension. I get the impression that Immigration like to see in excess of 100K on account at the time of application, even though one is applying for the visa under the monthly income of 65K plus. I had already deduced/decided to 'inflate' my bank account with additional funds before applying for future visa renewals. I also get the Bank Manager's letter after the monthly transfer is received into my account and before I start spending. A reasonable amount of money on the account (100K +) certainly looks better when reviewed by Immigration. Update to follow after next visit later today.

[Nomad97]

Update about 12-month long stay (retirement) visa after visit to Kap Cheoun today. This information relates to meeting monthly income requirements, not lump sum deposits.

I had a very informative conversation with a charming Immigration Officer and it seems that the Embassy Letter confirming monthly/yearly income is the key document. She said either a new or previous letter from the Embassy would suffice and bank statements were not necessary.

My wife talked further in Thai and it appears that if you have significantly more than the minimum income required (800K) the Embassy Letter stands by itself. She also said that it was not necessary to transfer all the income to Thailand - it was acceptable to leave income in the UK or Offshore. My wife also said that she thought that the Thai bank book should show more than 100K on deposit at the time of application to facilitate a trouble free visa issue.

It is a slightly different story to the previous couple of years. It appears to change the emphasis from actual money transfers to an Embassy certified monthly/annual personal income statement. I will know for sure when I renew my visa at the end of the year.