Retirement Visa Thai Savings Account Must Be In Thb?

[ubonjoe]

You could do it with a hotel address.

The easiest option would be to take a long a friend that has a Bangkok Bank account that could vouch for you

( Form ).

[youbuyshirt]

Was looking at those Bkk Bank fees. Pretty outrageous. 0.75% for some currencies to transfer out, with no limit. That is many times higher than in neighboring countries. Is there no other way to get your money out of Thailand than to go through the banks? What about Paypal, or money transfer services?

I don't think people should accept these fees. They should just keep their money elsewhere. Screw Thailand with its 150 baht ATM fees and all the rest. Don't put up with it.

[ubonjoe]

The only time you would have to worry about moving your money out of Thailand would be if you decided not to stay longer. Many people just use the money in the bank to live on and then top it up before their extension is due.

There are money transfer services but they would probably be equal to or greater in cost than bank fees.

[Maestro]

Was looking at those Bkk Bank fees. Pretty outrageous. 0.75% for some currencies to transfer out, with no limit...

Interesting. Have you got a link for that? I have seen the fee for incoming remittances on the websites of several banks but have never been able to find the fee for an outward remittance.

[chiang mai]

The money must be kept in baht. It cannot be in any form that is variable, including foreign currencies and stock funds.

There are no signs of the baht weakening very much anytime soon. This may encourage some ex-pats to use the income method of getting extensions, or (for retirement extensions) the mixed income + deposit method. The downside is having to get annual certification from one's embassy in Bangkok.

The only bright aspect of the recent exchange rates is that the money can be kept in fixed deposit accounts that pay as much as 2.8% (before 15% withholding). For many ex-pats that is better interest than can be earned back home.

Wrong answer, any currency is acceptable.

[chiang mai]

Was looking at those Bkk Bank fees. Pretty outrageous. 0.75% for some currencies to transfer out, with no limit.

Subject to Bank of Thailand regulations!

[insar777]

In some forums I see that for a married couple they only have to have the 800000baht between them. Is this correct, and if it is, I presume a marriage certificate is necessary. We are both from New Zealand

[Jingthing]

In some forums I see that for a married couple they only have to have the 800000baht between them. Is this correct, and if it is, I presume a marriage certificate is necessary. We are both from New Zealand

Yes, annual retirement extensions for married couples can be obtained by using only ONE 800K Thai bank account. The primary applicant gets the extension and the spouse gets an extension in a dependent way. There is specific advice about this on other threads. I am not sure if the account should/can have both names or whether the account can only have the one primary applicant's name.

[Maestro]

In some forums I see that for a married couple they only have to have the 800000baht between them. Is this correct, and if it is, I presume a marriage certificate is necessary. We are both from New Zealand

Yes, proof of the relationship is required.

[lopburi3]

Actually a retirement extension requires 800k/65k, regardless of marriage, for each. But there is an option for a dependent of a person here on retirement extension of stay to obtain a matching dependent extension of stay. It is not retirement and depends on the other person having the retirement extension of stay. Yes a verified marriage would be required for a spouse to use this option. The 800k can not be between them but must be in the name of the retirement extension applicant.

[OJAS]

Thanks for the replies. This is good news. If it makes a difference, I don't intend to apply from my home country, but in Thailand. I remember when the baht was at 45, it's too painful to buy it at 30. I'm thinking about changing my USD to HKD and keeping it in a Thai foreign currency account. I know the interest is essentially zero, but a lot of people think HKD might jump in value and the future for the USD is dim, IMO. Feel free to comment on this plan, pro or con.

Hmm, that's how much the THB is worth against our Mickey Mouse currency (the good old GBP) these days! Since even the USD has appreciated against the GBP by nearly 5% (on the basis of OANDA xrates) since the start of the year, maybe your impoverished Americans should consider moving to Blighty - assuming, of course, that the weather there doesn't drive you mad.

On the other hand, the GBP has slumped in value by almost 8% against the THB over the same period. Any takers on it being worth 1 satang (if we Brits are lucky) by the end of the year?

[insar777]

Where do I find the threads with the specific items on married couples only needing one lot of 800000/65000?

I am new to this but finding it very interesting as very close to deciding to shift to Tha Sala.

[Lite Beer]

http://www.thaivisa.com/forum/index.php?app=core&module=attach&section=attach&attach_id=153821

2.22 In the case of a retiree: Permission will be granted for a period of not more

than 1 year at a time.

(1) The alien has obtained a temporary visa (NON-IM);

(2) The applicant is 50 years of age or over;

(3) Proof of income of not less than Baht 65,000 per month; or

(4) Account deposit with a bank in Thailand of not less than

800,000 Baht as shown in the bank account for the past 3 months at the filing date of the application. For the first year, the applicant should have that amount in his bank account for not less than 60 days or

(5) Annual income plus bank account deposit totaling not less

than Baht 800,000 as of the filing date of application

2.20 In the case of a family

member of an alien who has been permitted temporary

stay under clauses 2.1, 2.2, 2.3, 2.5, 2.6,2.7, 2.10, 2.12, 2.13,2.4, 2.15, 2.16, 2.17,

2.21, 2.22,2.26,6.29 of this Order (applicable only to parents, spouse, child, adopted child or child of

his/her spouse):

Permission will be

granted for a period of

not more than 1 year at a time.

(1) The alien has obtained a temporary visa (NON-IM);

(2) Proof of family relationship;

(3) In the case of a spouse, the marital relationship shall be de

jure (legitimate) and de facto;

[IMA_FARANG]

I "lost" my retirement visa when I drove to Malaysia without knowing I had to have a re-entry permit. I got a 2 week tourist visa when I returned to Thailand. Then I drove back to Penang, and bought a 2 month Single Entry Tourist Visa. Then, almost 2 months later I went to Immigration, showed them the Penang visa, and confirmation that I have enough money in the bank, and got a Non-Immigrant O Retirement Visa valid for 2 months.. Next week I will go to Immigration again, and upgrade this visa to a One Year Retirement Visa. So it seems that one can apply for a Retirement Visa in Thailand after all.

No you will NOT get a Thai visa in Thailand.

What you are doing is an EXTENSION of your current Non immigrant O visa for a year.

They will stamp an extension in your passport that extends your current Non O visa for one more year.

With this extension ... which is based on retirement .... you must do 90 day reporting.

You can extend the extension (if you see what I mean) annually by showing the same financial requirements.

You will also need an exit re-entry permit each time you want to leave Thailand with this extension.

I know it's a seemingly minor point, but what your getting is an annual extension of your old visa.

I have 3 of them stamped in my passport .... and my next one is due in October 2013.

[IMA_FARANG]

In some forums I see that for a married couple they only have to have the 800000baht between them. Is this correct, and if it is, I presume a marriage certificate is necessary. We are both from New Zealand

---------------

Not quite but basically true,

Immigration will want a Thai bank account in YOUR name.

Your wife however can "piggyback" on your extension once it is approved with no financial requirement ... just proof that you are married.

So, in effect, both you and your wife can retire on that one account.

Howevr, to get into Thailand she will need a visa which they will convert to a retirement rxtension once yours is approved.

Often this can be done at the same time ... but that depends on the immigration office.

But I beleive most will do it at the same time.

[lopburi3]

I "lost" my retirement visa when I drove to Malaysia without knowing I had to have a re-entry permit. I got a 2 week tourist visa when I returned to Thailand. Then I drove back to Penang, and bought a 2 month Single Entry Tourist Visa. Then, almost 2 months later I went to Immigration, showed them the Penang visa, and confirmation that I have enough money in the bank, and got a Non-Immigrant O Retirement Visa valid for 2 months.. Next week I will go to Immigration again, and upgrade this visa to a One Year Retirement Visa. So it seems that one can apply for a Retirement Visa in Thailand after all.

No you will NOT get a Thai visa in Thailand.

What you are doing is an EXTENSION of your current Non immigrant O visa for a year.

They will stamp an extension in your passport that extends your current Non O visa for one more year.

With this extension ... which is based on retirement .... you must do 90 day reporting.

You can extend the extension (if you see what I mean) annually by showing the same financial requirements.

You will also need an exit re-entry permit each time you want to leave Thailand with this extension.

I know it's a seemingly minor point, but what your getting is an annual extension of your old visa.

I have 3 of them stamped in my passport .... and my next one is due in October 2013.

You obtain a non immigrant visa entry conversion for 2,000 baht as poster stated in the process of extension of stay - two months later you extend your stay for the normal one year. Visas are issued in Thailand for those who qualify for extension of stay but only have visa exempt or tourist visa entry.

[lopburi3]

In some forums I see that for a married couple they only have to have the 800000baht between them. Is this correct, and if it is, I presume a marriage certificate is necessary. We are both from New Zealand

---------------

Not quite but basically true,

Immigration will want a Thai bank account in YOUR name.

Your wife however can "piggyback" on your extension once it is approved with no financial requirement ... just proof that you are married.

So, in effect, both you and your wife can retire on that one account.

Howevr, to get into Thailand she will need a visa which they will convert to a retirement rxtension once yours is approved.

Often this can be done at the same time ... but that depends on the immigration office.

But I beleive most will do it at the same time.

One has retirement extension of stay but the other has dependent extension of stay - if both want retirement they both must meet the required financials.