Retirement Visa

[gubeman1]

I renewed my retirement visa in the Spring by wiring in 800,000 baht into my Thai savings account 3 months befoe renewal. All smooth at the immigration office and renewed easily. This year I don't think I will spend all the 800K (less going out I guess). Can anyone answer with certainy the following:\

Does the 800,000 have to be wired from outside each and every year OR is it sufficient that there is a balance of 800K even though some of that money was wired in for the prior year.

In other words does a new 800,000 have to be transfered insie each and every year for renewal???

Is the immigration officer looking that 800K was wired into Thailand within the last year regardless of any existing balance?

Thanks ahead of time

[OlafStapleton]

put 800k in TMB 'no fixed account'

2.5% interest and good for immigration

They only care that you have instant access to the cash, not where it come from.

Edited June 24, 2011 by OlafStapleton

[Jingthing]

In other words does a new 800,000 have to be transfered insie each and every year for renewal??

!!!!

NO

!!!!

A common misunderstanding. Cleared up for you now, I hope. Your annual requirement to import -- ZERO baht.

[Penkoprod]

You dont need to SPEND 800,000 Baht per annum. You just need to SHOW that amount has been in your Thai bank account, and hasn't dipped below in the 3 months prior to renewal.

Just use what you want/need during the year, but make sure its topped up to 800,000 Baht 3 months before renewal is all

You can always transfer additional funds at the same time you top up...............this is to cover your living expenses for the 3 months.

Penkoprod

[gubeman1]

put 800k in TMB 'no fixed account'

2.5% interest and good for immigration

They only care that you have instant access to the cash, not where it come from.

At TMB what is the holding period for the 2.5%?

[Darrel]

The clue is in the name: "no fixed".

[1huahin]

put 800k in TMB 'no fixed account'

2.5% interest and good for immigration

They only care that you have instant access to the cash, not where it come from.

At TMB what is the holding period for the 2.5%?

We tried to open a TMB account recently and were told we had to have a work permit to open an account with them

[newbepat]

What is a TMB no fixed account?, and

Where can i get 2.5% interest in Thailand?

I have an account in Kasikornbank already

Will they give my 2.5% interest?

Sorry if this is off topic

Pat

[gubeman1]

How about move the bank account interest to a new thread. thx

[OlafStapleton]

We tried to open a TMB account recently and were told we had to have a work permit to open an account with them

They also try, 'not for foreigners', you say to all excuses, 'you phone head office'

[mahjongguy]

"I have an account in Kasikornbank already. Will they give my 2.5% interest?"

Talk to Kbank about their Happy Senior account.

[Guest]

Your money can also been in a fixed term account earning a lot more interest, if you don' need instant access to it. You could still withdraw it at any time but you'd lose the interest

[newbepat]

put 800k in TMB 'no fixed account'

2.5% interest and good for immigration

They only care that you have instant access to the cash, not where it come from.

At TMB what is the holding period for the 2.5%?

at TMB What is the holding period for the 2.5%?

He there gube what is TMB

Pat :jap:

[newbepat]

How about move the bank account interest to a new thread. thx

You asked the question regarding 2.5% interest first Pat :jap:

Edited June 25, 2011 by newbepat

[newbepat]

put 800k in TMB 'no fixed account'

2.5% interest and good for immigration

They only care that you have instant access to the cash, not where it come from.

At TMB what is the holding period for the 2.5%? If am you must be too Gubeman Pat

[gubeman1]

I renewed my retirement visa in the Spring by wiring in 800,000 baht into my Thai savings account 3 months before renewal. All smooth at the immigration office and renewed easily. This year I don't think I will spend all the 800K (less going out I guess). Can anyone answer with certainy the following:\

Does the 800,000 have to be wired from outside each and every year OR is it sufficient that there is a balance of 800K even though some of that money was wired in for the prior year.

In other words does a new 800,000 have to be transfered inside each and every year for renewal???

Is the immigration officer looking that 800K was wired into Thailand within the last year regardless of any existing balance?

Thanks ahead of time

[newbepat]

put 800k in TMB 'no fixed account'

2.5% interest and good for immigration

They only care that you have instant access to the cash, not where it come from.

At TMB what is the holding period for the 2.5%?

[Jingthing]

In other words does a new 800,000 have to be transfered inside each and every year for renewal???

See Post 3. Edited June 25, 2011 by Jingthing

[Penkoprod]

I renewed my retirement visa in the Spring by wiring in 800,000 baht into my Thai savings account 3 months before renewal. All smooth at the immigration office and renewed easily. This year I don't think I will spend all the 800K (less going out I guess). Can anyone answer with certainy the following:\

Does the 800,000 have to be wired from outside each and every year OR is it sufficient that there is a balance of 800K even though some of that money was wired in for the prior year.

In other words does a new 800,000 have to be transfered inside each and every year for renewal???

Is the immigration officer looking that 800K was wired into Thailand within the last year regardless of any existing balance?

Thanks ahead of time

Those were answered here:

http://www.thaivisa....ost__p__4511130

But in case you missed it, and to make it simpler for you...all you need to do is have a balance of at least 800,000 Baht on the day of renewal, and that the amount has not dropped below 800,000 Baht in the three months (90 days?) prior to renewal date.

What some people do is leave the 800,000 unused for years, and that (unless its changed recently) satisfies Thai Immigration.

If you go the other route and see the 800,000 as usable during the year, then thats fine, also. Just top it up and keep it at that level for 3 months prior to renewal.

If you only spend, say 452,381 Baht during the nine months before the "seasoning" has to be performed, then you only need to wire in 347619 Baht to satisfy Immigration. That info is gathered from the visa gurus on here, and not just my opinion

HTH

Penkoprod

[sirchai]

put 800k in TMB 'no fixed account'

2.5% interest and good for immigration

They only care that you have instant access to the cash, not where it come from.

But please be aware that you'll have a better interest rate, when you're married with a Thai. I figured that out after spending most of my money......................:jap:

[thailand49]

Slightly off topic........

Can you ease my mind for Monday when I report to Immigration....

I have a retirement visa and today I got a chance to look at my passport and oh shit hit me because I usually have everything in control?

Because my wife recently was in the hospital for cancer treatment to save her life and having to care for my son along with so many other thingsI forgot to report for my 90 days which was the 12th of June.. When I report Monday what can I expect from immigration for missing this date.. I can show documentation fromt he hospital to back up my story as to why I forgot to report.

Thanks,

[Lite Beer]

You can expect a 2,000 Baht fine.

[gubeman1]

Penkoprod, Got your lucid and informative reply first time, Thanks. There is no need to do arithmetic. Just waiting for further confirming opinions and hoping the thread will return to topic. Thanks for your information.

[fantaasia]

2000 baht non-reporting fine.

[JulietLima]

I renewed my retirement visa in the Spring by wiring in 800,000 baht into my Thai savings account 3 months before renewal. All smooth at the immigration office and renewed easily. This year I don't think I will spend all the 800K (less going out I guess). Can anyone answer with certainy the following:\

Does the 800,000 have to be wired from outside each and every year OR is it sufficient that there is a balance of 800K even though some of that money was wired in for the prior year.

In other words does a new 800,000 have to be transfered inside each and every year for renewal???

Is the immigration officer looking that 800K was wired into Thailand within the last year regardless of any existing balance?

Thanks ahead of time

Those were answered here:

http://www.thaivisa....ost__p__4511130

But in case you missed it, and to make it simpler for you...all you need to do is have a balance of at least 800,000 Baht on the day of renewal, and that the amount has not dropped below 800,000 Baht in the three months (90 days?) prior to renewal date.

What some people do is leave the 800,000 unused for years, and that (unless its changed recently) satisfies Thai Immigration.

If you go the other route and see the 800,000 as usable during the year, then thats fine, also. Just top it up and keep it at that level for 3 months prior to renewal.

If you only spend, say 452,381 Baht during the nine months before the "seasoning" has to be performed, then you only need to wire in 347619 Baht to satisfy Immigration. That info is gathered from the visa gurus on here, and not just my opinion

HTH

Penkoprod

FAIR ENOUGH.

But what if I topup my account to 800K, three months prior to the day I go to meet IMM, and I continue to use my money during those three months, when I visit IMM on the due day, my account does not show anymore 800K ?

[Jingthing]

I renewed my retirement visa in the Spring by wiring in 800,000 baht into my Thai savings account 3 months before renewal. All smooth at the immigration office and renewed easily. This year I don't think I will spend all the 800K (less going out I guess). Can anyone answer with certainy the following:\

Does the 800,000 have to be wired from outside each and every year OR is it sufficient that there is a balance of 800K even though some of that money was wired in for the prior year.

In other words does a new 800,000 have to be transfered inside each and every year for renewal???

Is the immigration officer looking that 800K was wired into Thailand within the last year regardless of any existing balance?

Thanks ahead of time

Those were answered here:

http://www.thaivisa....ost__p__4511130

But in case you missed it, and to make it simpler for you...all you need to do is have a balance of at least 800,000 Baht on the day of renewal, and that the amount has not dropped below 800,000 Baht in the three months (90 days?) prior to renewal date.

What some people do is leave the 800,000 unused for years, and that (unless its changed recently) satisfies Thai Immigration.

If you go the other route and see the 800,000 as usable during the year, then thats fine, also. Just top it up and keep it at that level for 3 months prior to renewal.

If you only spend, say 452,381 Baht during the nine months before the "seasoning" has to be performed, then you only need to wire in 347619 Baht to satisfy Immigration. That info is gathered from the visa gurus on here, and not just my opinion

HTH

Penkoprod

FAIR ENOUGH.

But what if I topup my account to 800K, three months prior to the day I go to meet IMM, and I continue to use my money during those three months, when I visit IMM on the due day, my account does not show anymore 800K ?

Easy. Your extension will be DENIED, no doubt about it. The account must show at least 800K three months out and it MUST also show at least 800K at the date of extension application (and never go even ONE baht under 800K during that entire time period). So if you are spending off the account, you must top up to 800K PLUS your expected three months expenses for three months. Fair? Not relevant. Edited June 26, 2011 by Jingthing

[khunPer]

I renewed my retirement visa in the Spring by wiring in 800,000 baht into my Thai savings account 3 months before renewal. All smooth at the immigration office and renewed easily. This year I don't think I will spend all the 800K (less going out I guess). Can anyone answer with certainy the following:\

Does the 800,000 have to be wired from outside each and every year OR is it sufficient that there is a balance of 800K even though some of that money was wired in for the prior year.

In other words does a new 800,000 have to be transfered inside each and every year for renewal???

Is the immigration officer looking that 800K was wired into Thailand within the last year regardless of any existing balance?

Thanks ahead of time

No, you just have to show the immigration, that you have a balance of 800.000 baht to cover for your expenses, that the money has been available for minimum 3 month and any transfer of that money, originally came from abroad, as you have no work permit.

A good trick is, to place the "retirement visa extension" money - or some of them - at a fixed account, giving you a higher interest. Several banks offer that. Immigration accepts fund at fixed accounts, but do not accept funds at so-called Fundbooks (fund places in bonds or stocks).

Open another account (fx. with a ATM cash card, which you cannot have for a fixed account) for your daily expenses and top-up with fund from abroad at that account. Immigration do look at, that your moneys for expenses comes from abroad (as you have no work permit), but not really how much you spent. However any income from interest or profit of investments in Thailand are legal. You may place some of your funds at the fixed account and some at the ATM-account, but in total, you need minimum 800.000 baht (best with a little more) when applying for your retirement extension, and that balance must not be less than 800.000 the last 3-month before your extension.

If you want to use more than one bank, please note, that you will need a verification letter of balance from each bank. Some banks, fx. SCB (Siam Commercial Bank) charge your for a letter for each account, whilst others, fx. Bangkok Bank will place all accounts as a total balance in one verification letter only.

[Jingthing]

My understanding is that the funds do NOT need to be imported from abroad, work permit or not. Some years ago, there was a campaign of enforcement on that point, but then it stopped. Of course, different officers/offices may see it differently and ask you some questions about the source of the money if the funds did not come from abroad.

[colinscarr]

Then you have failed to meet the condition of keeping at least 800K baht in the bank for the three month seasoning period and so are not eligible to get a further year's extension of of your visa.

The 800K MUST stay in the bank for every day of the 3 months prior to extending your visa.

[lopburi3]

Flame/response removed.