Retirement Money

[lorus59]

I am from Ireland and just over 50 years old now. I have lived in Thailand for many years now on Non-Imm and toursit visas but would like to stay on a retirement visa but at the moment I don't have 800,000 baht available to place in my account. I was wondering if I borrowed the money to show it was in my account and then gave it back to the lender soon after I got the visa? If I did this each year do you think it is possible? Also does the money have to be in a Thailand bank account or can it be in my Irish bank account?

[Lite Beer]

It has to be in a Thai Bank account for a period of 2 months before application.

Next time it has to be in the bank for 3 months.

[bob4you]

they don't ask where it come from so if you have someone that trusts you enough to loan it too you fine. Remember if you can document your income you can use it to offset some or all of the B800,000.

[moe666]

65,00 baht a moth income or 800,000 in Thai bank account, yes it has to be in a Thai bank account, Or a combination of income and money in bank to equal 800,000baht.

[KhunBENQ]

they don't ask where it come from

I hope this is true for all immigration offices?

Some reports say they want a proof for the money to come from abroad.

[Mario2008]

There is no such requirement.

[Gary A]

There may not be any requirement that the money came from outside Thailand but they do scrutinize the deposits in my bank book and where they came from.

[JimGant]

Years ago they didn't have an ageing requirement for bank deposits. As a result, there was the possibility (and no doubt the actual fact) that a musical 800k made its way from one farang's account to another -- many many times during the year. Thus, the implementation of the ageing requirement. Certainly, not foolproof -- but it certainly cuts back on the number of iterations of such money handoffs.

And I'm sure if your passbook showed a pattern of 800k being in your account only for the same 3-month period every year, that you'd be escorted to the waterboard room. (Or, maybe just a few clarification questions )

[pmarlin]

Was told by a person at a beer bar the other day all he does is go to a lawer who for a fee loans him the 800,000 thb to put in his bank for three months so he can get his extension. this practice is why at times honest folks are asked to provide proof on income source. All because of a few who try to beat the system.

[nev]

Was told by a person at a beer bar the other day all he does is go to a lawer who for a fee loans him the 800,000 thb to put in his bank for three months so he can get his extension. this practice is why at times honest folks are asked to provide proof on income source. All because of a few who try to beat the system.

Nothing wrong with doing this as long as both parties are happy and fair interest payment is agreed Imho.