Income Required For Retirement Extension Renewal?

[dddave]

The last two times I've renewed my Retirement Extension the monthly income requirement was somewhere around B40,000++

Reports on Thai-Visa suggest that the requirement has been raised to B65,000 but there was some confusion that perhaps the person who reported that was getting the figure from dividing the optional B800,000 yearly deposit by 12 months.

Can anybody confirm exactly what the current monthly income requirement is???

[beechguy]

Income for extension based on marriage is 40,000 Baht, or 400,000 in bank account. Financials for retirement is 65,000 per month, or 800,000 in the bank, or a combination of the two. No recent changes, it's been those amounts for a while.

Edited February 26, 2012 by beechguy

[Lite Beer]

As said above, nothing has change for quite a while.

800,000 in the bank OR 65,000 a month OR combination.

[saengsureeya]

Some immigration offices start to enforce "new" income-rules as soon as you pass the age of 50 and married to a Thai.

Correct or not correct, it seems to happen and in such cases the income raises from THB 40,000 to THB 65,000.

Of course the status of permission of stay will change from marriage to retired.

[Mario2008]

Some immigration offices start to enforce "new" income-rules as soon as you pass the age of 50 and married to a Thai.

Correct or not correct, it seems to happen and in such cases the income raises from THB 40,000 to THB 65,000.

Of course the status of permission of stay will change from marriage to retired.

Probably only if you have the 65,000 baht, simply because the extension based on retirement is much easier. But if you don't have the required income or are working in Thailand, I don't think they will insist on an extension based on retirement.

[tutsiwarrior]

many times the immigration people will recommend an extension based on retirement if you are over 50 y.o. as the documentation and hassle is much less than for an extension based on marriage...and the retirement extension is granted on the spot rather than the cumbersome one month verification period required for a marriage extension, cops coming to the house to 'witness' conjugal habitation, interrogating neighbors and etc, etc ...

for many the retirement extension thb800000 thai bank deposit requirement is off-putting but you can qualify for the retirement extension by simply demonstrating thb65000 monthly income which can come from any source; employment, investments, etc and not just from a pension...I'm semi-retired and work enough on overseas assignments every year to show that I have the necessary funds, verified by the US Embassy affidavit and no problemo...

and, if your wife dies before you or if you divorce your extension based on marriage shall expire in 7 days...the big boot and 'goodbye, falang'...

Edited February 27, 2012 by tutsiwarrior

[dinger]

I have a question along the same lines.

I am on a retirrement visa tand and have a Thai wife.

I have always filed for my extension based on income not on bank account.

This year I was planning on getting a bank statement so that I didn't have to go to the embassy in BKK. However I just read on another thread that the money you have on deposit must be in your name only and not in a joint account.

Is this correct

Thanks

[lopburi3]

Retirement always has to be your name only. For marriage most also require this now but believe there are a few exceptions allowed (likely those already in the system).

[dinger]

Thanks for the info

looks like a trip to bkk as renewal is due next month so not enough time to change name on account

[Anon999]

I have a question along the same lines.

I am on a retirrement visa tand and have a Thai wife.

I have always filed for my extension based on income not on bank account.

This year I was planning on getting a bank statement so that I didn't have to go to the embassy in BKK. However I just read on another thread that the money you have on deposit must be in your name only and not in a joint account.

Is this correct

Thanks

If you are from the UK can get the confirmation of income done by post. Extract from BE website:

Letter confirming pension/income for Thai Immigration

Consular Section is able to issue a standard letter addressed to Thai Immigration confirming your pension / income in order to support the renewal / extension of your retirement visa. The granting of the visa is at the sole discretion of the Thai Immigration authorities not the British Embassy.

Requirements:

• Photocopy of your current British passport
  
• Original evidence of your current pension/income
  
• Your local address to be typed on the letter
  

Please ensure the pension/income evidence you provide is in a form that is simple and easy to understand and contains the key financial amounts that are required for inclusion in the letter.

The standard letter fee is currently Baht 2,250 and payable in cash or a postal order. The letter will be ready for collection in person or sent to you by express mail with an additional postage Baht 100.

If you are unable to contact us in person, please mail us your request stating the total pension amount received monthly/yearly and enclosing the above documents. Kindly make the postal order (available at post offices) payable to the British Embassy and to be cashed at Nana Post Office Bangkok 10112.

Edited February 27, 2012 by Anon999

[Scoop1]

i have a questions along the same lines, i have an income of 58,000tbt, i am Australian and looking at the retirement visa as an option, can someone tell me , how much i would need to have in the bank, [ thai bank or oz bank ? ] to qualify, is there a simple way of working this out, 'the combination' and can i come to thailand on a 90 day tourist visa and convert to a retirement visa in Thailand, and what does that involve, i will be living in Nong Bua Lamphu and i am 52yrs

cheers

Scoop

[wayned]

If you use the combination method, you would have to have 104000 baht in a Thai bank in your name only. 58000 x 12 = 696000 baht. You must have at least 800000 baht yearly to qualify. Therefore 800000 - 696000 = 104000 baht . If you use the combo method the money usually doesn't have to be seasoned for two months before you apply, however, recent reports from Korat and Hua Hin say that they do require it it be seasoned.

Yes, you can come on a tourist visa. You would have to convert that visa to a Non-O showing immigration that you qualify for a retirement extension - cost 2000 baht. You most likey will have to do the visa conversion in Bangkok and the extension at the office responsible for Nong Bua Lamphu, I think Khon Kaen. Then the non-O can be extended for retirement for 1 year - cost 1900 baht.

[Scoop1]

Thanks Wayned, am i able to open a thai bank acc, i have read that some people have trouble?

[wayned]

You shouldn't have any trouble opening an account especially with a tourist visa, if denied by one branch go to another bank or branch. I have accounts at Bangkok Bank, SCB, Krung Thai and Government savings bank and had no problems at any.

[Scoop1]

Thanks wayned, thats cleared a few things up, if i get the retirement visa, what is the process after that, border runs, renewing the visa, reporting, how long can i stay? and continue to stay?

scoop

[wayned]

Your Non-O is extended for one year. During that year you will not have to leave Thailand, but report your address every 90 days to the immigration office responsible for your area. there is no charge. If you want to exit and re-enter Thailand during the year you must purchase a re-entry permit to keep your permission to stay "alive". If you leave without one it is cancelled. A single is 1000 baht and a multiple is 3800 baht. Most of us purchase at least a single when we do our extensions just in case of an emergency.

During the last 30 days of your 1 year permission to stay you apply for another 1 year extension. Everything is required to be submitted all over again. If you use the bank deposit method, the money has to be seasoned for 3 months. If you use the income method you will need a new letter from the embassy dated within 30 days of your application. If you use the combo method you will need new letters from both the bank and embassy. As I said earlier, it seems to depend the requirements of the immigration office whether the money has to be seasoned if you use the combo method.

[Mario2008]

1 post deleted.

A lawyer is not needed. You either meet the requirements or not, in which case a lawyer would not do any good.