800,000 Bank

[vodka]

Hi All

To get a retirement visa you need 800,000 Baht in a bank. Is that a uk bank or thai baht ????

[Maestro]

The money must be in a bank in Thailand. Some members have reported that money in a foreign currency account with a bank in Thailand was acceptable to the immigration office.

[Jingthing]

For the retirement VISA, that is the O-A visa obtained in your home country, the money is generally shown in your home country (if qualifying based on banked money). For EXTENSIONS based on retirement, done in Thailand based on banked money, the money must be in a Thai bank account. Starting with an O-A to retire in Thailand is one option, not the only way.

[Canada]

The money must be in a bank in Thailand. Some members have reported that money in a foreign currency account with a bank in Thailand was acceptable to the immigration office.

Would that happened to have been in Chiang Mai? and would that also work for extension based on marriage? do you remember?

Thanks

[lopburi3]

The only report I recall of a foreign office bank in Thailand not being accepted was from this year in Phuket. The police order says bank in Thailand not "Thai owned bank". It should be accepted. That said believe using a Thai ATM Pool bank is a big advantage. Not only do you have a branch on every corner you have free access to other banks ATM (up to four times per month).

[wpcoe]

I don't really want to drag this thread off topic, but what is a "Thai ATM Pool bank?"

I'm aware I can use my SCB ATM card at most any ATM machine, but other than using it in my local province at an SCB ATM, it incurs a service charge for each transaction. The "up to four times per month" free access sounds appealing.

[lopburi3]

SCB is a Pool member and they still all charge for out of province so not a factor on that (at least until they do away with such nonsense fees) but in area you should be able to use other banks atm's up to four times without a fee. As the fee is small it is not a major factor and up country probably seldom used but in Bangkok or large cities it is nice to be able to use any atm at times and not having extra fees makes passbook last a lot longer (for joint accounts they are a pain to replace as both must attend at original opening bank (at least for Bangkok Bank).

[wpcoe]

Good to know. I'd never heard of it. Thanks for the info!

[DoctorG]

Generally speaking, you must have held the 800k in a Thai bank at least 2 months prior to your retirement visa application.

For annual renewals in must be on deposit for 3 months beforehand.

[Neurath]

Can the money be in a Thai Providential Fund like, for example, TISCO?

[lopburi3]

No. It must be a cash deposit account - and some offices may limit it even further to passbook savings account.

[fxe1200]

Can the money be in a Thai Providential Fund like, for example, TISCO?

Give it a try and let us know if it works!

[JulietLima]

For the retirement VISA, that is the O-A visa obtained in your home country, the money is generally shown in your home country (if qualifying based on banked money). For EXTENSIONS based on retirement, done in Thailand based on banked money, the money must be in a Thai bank account. Starting with an O-A to retire in Thailand is one option, not the only way.

For EXTENSIONS based on retirement, done in Thailand based on banked money, the money must be in a Thai bank account. ALSO, the 800,000 B must be in the account THREE (3) months before you come to see the IMM Officers for your extension.

[Lite Beer]

For EXTENSIONS based on retirement, done in Thailand based on banked money, the money must be in a Thai bank account. ALSO, the 800,000 B must be in the account THREE (3) months before you come to see the IMM Officers for your extension.

2 Months the first time.

[hanuman19]

No. It must be a cash deposit account - and some offices may limit it even further to passbook savings account.

That is the beautiful thing here, each and every office has a different opinion as to how the 800K must be! Some accept only Passbook Savings account, some accept long term deposit and some may even accept (MAY ACCEPT) the Tisco Certificate!

I for myself would pay a visit at your immigration office and find out, that way you have what they want (unless they change the Saravat "the Head Honcho" before you are due for your permit)!

[glegolo]

JulietLima, on 2011-03-20 12:40:20, said:

For EXTENSIONS based on retirement, done in Thailand based on banked money, the money must be

in a Thai bank account. ALSO, the 800,000 B must be in the account THREE (3) months before you come

to see the IMM Officers for your extension.

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Just for the sake of good order, this information given here in this thread is based on the fact the

applicant is not retired in his homecountry, but merely a younger guy.

For a applicant being retired with a steady income from his homecountry. there is another side of this coin.

You can also use the "combination" of income and money in the bank.

Just wanted to point this out for you guys reading this and not knowing how it works.

i.e. If you have a smaller retirement-income not reaching up to 65.000 baht, you can use money

in the bank and combine with that. And in this case you do NOT need to have the money in the bankaccount more

than a day if you like....

For details about this Mario and Lopburi is the guys knowing all about it.

Glegolo

[elliss]

The money must be in a bank in Thailand. Some members have reported that money in a foreign currency account with a bank in Thailand was acceptable to the immigration office.

would having the reqd amount in a HSBC uk based account, suffice .

as HSBC , have a bank in BKK .

[InterestedObserver]

The money must be in a bank in Thailand. Some members have reported that money in a foreign currency account with a bank in Thailand was acceptable to the immigration office.

would having the reqd amount in a HSBC uk based account, suffice .

as HSBC , have a bank in BKK .

NO, money for a 1 year extension of stay based on retirement must be in Thailand and readily available to spend.

[TheFishman1]

Can the money be in a Thai.Bank in (u.s.dollars) a foriegn account or does it have to be converted to the 800,000. Baht ?

[Mario2008]

A foreign currency account is accepted, but you run the risk of going under the 800,000 when your currency is depreciated. So to be on the safe side you would always need more than 800,000 worth of foreign currency to account for currency fluctuations.

Of course the combined option of yearly income and money in the bank doesn't require seasoning.