Retirement None Imm O

[nontabury]

Went into immigration today to renew my visa, I'm required to show 400,000 bht in a Thai bank a/c,understandably I do not keep this amount in my

normal savings a/c, main reasons It gives me no interest. So I showed from the same Thai bank, my fund a/c book, from which I receive interest,

supported by a letter from the bank showing more than 4,000,000 bht, to my amazement they refused to accept this a/c due to it not having more then 10 million. My question were the immigration correct in refuseing this Thai bank a/c and if so why.

[Jingthing]

Well, lots of issues suggested by your OP.

But to start you off extensions based on retirement using the bank account method need 800K baht seasoned two months for the first extension, and three months for later ones.

400K would never work for a retirement extension as it is simply not enough money. You could combine that with proof of income of at least another 400K though, using the combo method.

I believe there is still an INVESTMENT VISA available for showing investment of TEN million baht. Sounds like they were talking about that.

Edited August 27, 2012 by Jingthing

[nontabury]

Well, lots of issues suggested by your OP.

But to start you off extensions based on retirement using the bank account method need 800K baht seasoned two months for the first extension, and three months for later ones.

400K would never work for a retirement extension as it is simply not enough money. You could combine that with proof of income of at least another 400K though, using the combo method.

I believe there is still an INVESTMENT VISA available for showing investment of TEN million baht. Sounds like they were talking about that.

I think for those applicants who are married to a Thai and/or have Thai children 400,000 is sufficient.

The reason givern by the immigration officer was that my money was not in a savings A/c.

I have been on a retirement visa for approx 8yrs, during this period I have used money in a Thai A/c

Or shown proof of income to cover the required amount.

[nontabury]

Well, lots of issues suggested by your OP.

But to start you off extensions based on retirement using the bank account method need 800K baht seasoned two months for the first extension, and three months for later ones.

400K would never work for a retirement extension as it is simply not enough money. You could combine that with proof of income of at least another 400K though, using the combo method.

I believe there is still an INVESTMENT VISA available for showing investment of TEN million baht. Sounds like they were talking about that.

I think for those applicants who are married to a Thai and/or have Thai children 400,000 is sufficient.

The reason givern by the immigration officer was that my money was not in a savings A/c.

I have been on a retirement visa for approx 8yrs, during this period I have used money in a Thai A/c

Or shown proof of income to cover the required amount.

[lopburi3]

A retirement extension requires 800k in cash bank account for 3 months prior to application regardless of marriage to a Thai or not. Only if you extend for Thai wife would the requirement drop to 400k. From your mention of 10 million suspect immigration was considering the investment extension of stay rather than retirement or Thai wife and that requires the full 10 million.

For marriage or retirement the requirement is a Thai bank savings account and normally both the normal passbook and fixed deposit types are accepted (but must be cash account rather than investment types). It is not clear what you presented.

[Lifer]

Don't know what kind of account he keeps his money in, but my money I use from my Thai Savings account used for marriage extension pays interest. Granted, not a lot, but twice a year I get interest.

[mahjongguy]

Generally, savings accounts pay 0.75% interest. It's better than nothing.

Savings accounts and fixed accounts are acceptable for retirement and marriage extensions. The OP used the word "fund" which clearly implies an investment account. These are not acceptable, no matter the balance, because the principal can vary. It could take off like a rocket or sink like a stone.

An investment account might suit the requirements of the 10 mil visa, but the OP had far less than that amount.

Edited August 27, 2012 by mahjongguy

[nontabury]

A retirement extension requires 800k in cash bank account for 3 months prior to application regardless of marriage to a Thai or not. Only if you extend for Thai wife would the requirement drop to 400k. From your mention of 10 million suspect immigration was considering the investment extension of stay rather than retirement or Thai wife and that requires the full 10 million.

For marriage or retirement the requirement is a Thai bank savings account and normally both the normal passbook and fixed deposit types are accepted (but must be cash account rather than investment types). It is not clear what you presented.

Not sure what you mean in your first paragraph,when you say extend.

I presented a normal bank book for a fixed income open-ended FUND supported by a letter from the bank manager showing the balance.It's basically the same as a savings a/c but the money is in a fund that produces a profit.

Last year to obtain my renewal visa I used my uk sterling a/c with the same bank, no problem.

savings A/C

[Lite Beer]

For a 12 Month Extension

Fund Accounts are not normally accepted.

Has to be a Savings Acc. Or a Fixed Income Acc.

[lopburi3]

What you do in Thailand at an immigration office is extend your permission to stay. That is what you use the TM.7 form for. You do not renew a visa in Thailand.

[nontabury]

Savings accounts and fixed accounts are acceptable for retirement and marriage extensions. The OP used the word "fund" which clearly implies an investment account. These are not acceptable, no matter the balance, because the principal can vary. It could take off like a rocket or sink like a stone.

Yes, I take on what you say, that must be the reason,although I to have to say, that there was more than enough money throughout six

months up to the present time,as supported by the bank managers letter, to cover the required amount.

I've obviously made a mistake in accepting their printed requirements that the money must be in a Thai bank A/C, I missed the exceptions.

Strangly,they did offer me an option however I decided to save myself 10,800 and opt instead to provide proof of earnings,guarenteed by a letter from the embassy,this I think cost about 2-3,000.