Retirement Visa And Bank Account Requirement.

[Mousehound]

I understand it can be difficult to open a bank account if you are not a resident. How are you able to open a bank account if you are a tourist so you can deposit your 800K Bht?

If I enter with an O tourist visa valid for 60 days and get it extended to 90 days I would not be able to have the 800 000Bht in the bank for the required 3 months as I would have to apply to convert to a retirement visa before the extension expired.

How do work around this?

Thanks.

[Jingthing]

The money seasoning requirement for FIRST time retirement extensions is TWO months and not three. So when you enter Thailand, rush to open the bank account and transfer the money in. Don't believe all the hype about how hard it is to open a Thai bank account. Keep trying on whatever visa and emphasize you are about to transfer in 800K!

[Mousehound]

Thanks Jingthing. Got it now.

[ThaidDown]

Going from a Tourist visa to a non immigrant-O Extension based on retirement is a two step process. No need to extend the 60 days tourist if the money is in the bank.

1, After the 800,000 is in the bank (no seasoning required) visit immigration and request a change from tourist to non-imm-o, showing that you satisfy the basic requirement for retirement ie age and money.. The cost is 2000 baht. They will issue you with a 90 day non imm-o visa. Note, not all local immigration offices do this conversion, they may send you to Bangkok. . If you post which immigration area you live in some one will know the procedure there.

2, In the last 30 days of your non-o visa visit your local immigration and show the bank letter with 800,000 seasoned for 2 months, they will issue a 1 year extension, cost 1900 baht. Future years will require a 3 month seasoning period.

I notice in your initial post you say "If I enter..." if you are not already here instead of getting a Tourist visa request a non immigrant-O to investigate retirement, single entry will be fine. That will cut out step 1.

[Swiss1960]

Most banks will be happy to open your bank account whether you have a Visa or not... I have my account since 2 years and never had a Visa in Thailand except the 30d given when crossing the border. You might need to check out few banks, but basically it's easy peasy..

[Lifer]

Renewed extension baqsed on marriage at Chiangmai Immigration. I had required balance there for 3 months based. We were told in no uncertain terms that for marriage extension, only two months required. Three months is only for retired extension. Not what seems to fly around TV. When I questioned it, she again stressed 2 months for marriage extension, and 3 months for retired extension. Same officer has worked our extensions at least 12 of the 15 times we have been in Chiangmai. Can't say what everyone else does.

For what it's worth.

[Pib]

My guess is 90% plus of the farangs who attempt to open a Thai bank account have no to few issues in doing so...I know I certainly haven't had any issues in opening 3 different accounts over the years (a regular savings, a fixed savings, and a direct deposit savings account with Bangkok Bank at 3 different branches...and all 3 accounts are still open)...and that first regular savings account was opened years back while just visiting Thailand on vacation...the other two accounts after I retired to Thailand; the other approx 10% of folks do have problems and of course those 10% are mad about it and are more likely to post their unhappiness about it which is OK. And I'm guessing again that most of the 10% who have problems are on short-term visas like a tourist visit or visa on arrival using a hotel address and/or tried opening an account at a bank branch who's manager prefers to avoid foreigner accounts...also expect the appearance of some of applicants maybe just put-off/scared the bank personnel. Just my guess...just my opinion.

[Lite Beer]

Marriage Extension is 2 months.

Retirement extension is 3 months apart for the first application which is 2 months.

[ubonjoe]

To make things easier you should get a single entry non immigrant O visa from a Thai embassy or consulate based upon being over 50 years old. You would have 90 days from entry to open your bank account and have money in bank for 60 days.

Tell us where you are at now and we could possibly help with a recommendation for a friendly honorary consulate.

Edited August 16, 2012 by ubonjoe

[Mousehound]

Thanks for the ifo. I am in Western Australia which I understand no longer has a Thai consul. Also, is it possible to have monies deposited in Thailand but held as Australian $ - I understand that this would mean I would have to cover exchange fluctuation possibilities. And finally, what type of account would you recommend?

[lopburi3]

You could use Brisbane by mail. Bank account must be in cash and normally passbook savings or fixed deposit accounts are accepted. Some have used foreign currency accounts in the past but do not believe all have accepted so would not recommend unless you have extra time (2 months for first retirement extension) to convert after asking at location you plan to use.

[Mousehound]

Thanks lopburi3. Pretty well as I expected.

[jpinx]

Just to be clear here -- will an application for non-O be accepted in Changwattana immigration office based on being over 50 with NZ bank statements printed for a year showing quarterly investment income? Also, will the same statements (updated) be acceptable for extending the 90 day non-O for a year?

Thanks

[lopburi3]

The money is required to be reported as income in a letter from your Embassy. What they require will be up to them. Immigration may or may not ask for supporting documents. You will require a new letter from Embassy for the actual extension of stay (or have two letters made when your first visit).

[fishhooks]

I'm in Australia at present.

For my next Retirement Extension in March, I'm considering using the combined method of 'Income' (from Pension) and funds in my Thai Bank account.

Has anyone the details of how to get the "Income Letter" from the Australian Embassy in Bangkok?

Such as what evidence is required, any specific times that one must attend and cost.

[ubonjoe]

They do the income letter as a statutory declaration. I can recall posts stating that they do not ask for any proof of income.

You could contact the embassy for info: http://www.thailand....k/consular.html

Edited September 10, 2012 by ubonjoe

[kimamey]

The money seasoning requirement for FIRST time retirement extensions is TWO months and not three. So when you enter Thailand, rush to open the bank account and transfer the money in. Don't believe all the hype about how hard it is to open a Thai bank account. Keep trying on whatever visa and emphasize you are about to transfer in 800K!

I opened a savings account with Krungthai bank with 500 baht whilst on tourist visa.

[fishhooks]

They do the income letter as a statutory declaration. I can recall posts stating that they do not ask for any proof of income.

You could contact the embassy for info: http://www.thailand....k/consular.html

Thanks for that, I've emailed them but no answer as yet.

From the posts you recall, do you think that the Stat Dec is the key and that one doesn't need to produce a document from Centrelink stating your Pension?

[lopburi3]

You should have some such proof if asked by immigration in addition to Embassy letter but believe you have the same system used by US in that you sign as having the amount stated on document so supporting documents not required at Embassy.

[fishhooks]

Thanks Loburi3

Will take some documentation to Immigration in addition to the Embassy Letter.

I don't know if the government body at this end, Centrelink, produce a pension statement as such, but I'm fairly sure? an actual account statement copy of recent fortnightly amounts received should suffice.

Edited September 17, 2012 by fishhooks