Retirement Seed Money Question

[PMK]

How long does the 800K have to remain in the bank after the visa extension date?

Thank you.

[lopburi3]

It does not. You can party after you get the passport stamp/signature.

[Sheryl]

But you'll need to get it back in there 3 months before the next extension

[PMK]

It does not. You can party after you get the passport stamp/signature.

I'm sure the immigration officer said last year or the year before that it had to remain 2 or 3 months. Have you ever heard of that? Has the regulation changed?

[Lite Beer]

Never heard of it. Once you have your extension you can do what you want with your money

[Jingthing]

It does not. You can party after you get the passport stamp/signature.

I'm sure the immigration officer said last year or the year before that it had to remain 2 or 3 months. Have you ever heard of that? Has the regulation changed?

No, nothing has changed on this one bit.

For retirement extensions, season the funds over 800K

- Two months BEFORE the first extension

- Three months BEFORE subsequent extensions

As soon as the extension is obtained, the funds are free to be spent down to zero right away if you like. Again, no change on this. No change at all.

Edited February 13, 2013 by Jingthing

[lopburi3]

That is the period prior to application - not after. For first application it must be in account 2 months and for latter applications 3 months prior to application/issue of the new one year stay.

[ubonjoe]

If it was an extension based upon marriage to a Thai you would want to keep the money in the bank until you get your extension stamp after the under consideration period is over.

Perhaps that is where the 2 or 3 months came from.

[PMK]

If it was an extension based upon marriage to a Thai you would want to keep the money in the bank until you get your extension stamp after the under consideration period is over.

Perhaps that is where the 2 or 3 months came from.

I recall being told this during the interview when processing the application, so it definitely referred to after,not before the expiry date. However, it's possible it was 3 years ago (I was married then!), but if you guys are absolutely sure, I'll go with that. Thank you.

Edited February 13, 2013 by PMK

[PMK]

Thanks, everyone. I'm convinced!

[rizla]

It does not. You can party after you get the passport stamp/signature.

I'm sure the immigration officer said last year or the year before that it had to remain 2 or 3 months. Have you ever heard of that? Has the regulation changed?

No, nothing has changed on this one bit.

For retirement extensions, season the funds over 800K

- Two months BEFORE the first extension

- Three months BEFORE subsequent extensions

As soon as the extension is obtained, the funds are free to be spent down to zero right away if you like. Again, no change on this. No change at all.

Office dependant...

[Jingthing]

It does not. You can party after you get the passport stamp/signature.

I'm sure the immigration officer said last year or the year before that it had to remain 2 or 3 months. Have you ever heard of that? Has the regulation changed?

No, nothing has changed on this one bit.

For retirement extensions, season the funds over 800K

- Two months BEFORE the first extension

- Three months BEFORE subsequent extensions

As soon as the extension is obtained, the funds are free to be spent down to zero right away if you like. Again, no change on this. No change at all.

Office dependant...

Not really. I think you're talking now about enforcement on seasoning for COMBO applications.

[IMA_FARANG]

If you're using that 800K Thai bank account method you need to have.

1. That 800K in the bank for "seasoning" for 60 days before you get your first extension approval.

2. That 800K ammoint must also be in your bank account for 90 days for "seasoning" before your first extension renewal is due.

3. And also for 90 days "seasoning" again on each sucessive yearly renewal.

So actually you CAN remove that money AFTER you get your first approval, but you MUST have 800K for 90 days (or 3 months) BEFORE you need to renew your extension.

So you can withraw that money or put it into a higher interest earning 6 or 9 month fixed rate term deposit account.

But be careful, some immigration offices want you to have access to that money available on demand .... 6 or 9 months term deposit accounts MAY not be approved by your local immigration office. Check with them before you plan to open such a 6 or 9 month term deposit account.

[Jingthing]

If you're using that 800K Thai bank account method you need to have.

1. That 800K in the bank for "seasoning" for 60 days before you get your first extension approval.

2. That 800K ammoint must also be in your bank account for 90 days for "seasoning" before your first extension renewal is due.

3. And also for 90 days "seasoning" again on each sucessive yearly renewal.

So actually you CAN remove that money AFTER you get your first approval, but you MUST have 800K for 90 days (or 3 months) BEFORE you need to renew your extension.

So you can withraw that money or put it into a higher interest earning 6 or 9 month fixed rate term deposit account.

But be careful, some immigration offices want you to have access to that money available on demand .... 6 or 9 months term deposit accounts MAY not be approved by your local immigration office. Check with them before you plan to open such a 6 or 9 month term deposit account.

Not exactly. Immigration officers are not at all interested with what you do with your funds OUTSIDE the seasoning period. The issue you bring up could come into play if the funds are in those kinds of accounts during the NEXT seasoning period. If that is your intention, then yes you should ask.

[IMA_FARANG]

Never heard of it. Once you have your extension you can do what you want with your money

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

The 800K bank account method is for a retirement visa/extension.

You only need 400K for an extension based on marriage to a Thai.

And the two have (I believe) different seasoning requirements.

That;s what I replied about in my post, the 800K retirement visa/extension seasoning requirements.

Anyhow, if I'm wrong about the seasoning requirements, I'm very sure someone will correct me soon.

[monkeycountry]

If you're using that 800K Thai bank account method you need to have.

1. That 800K in the bank for "seasoning" for 60 days before you get your first extension approval.

2. That 800K ammoint must also be in your bank account for 90 days for "seasoning" before your first extension renewal is due.

3. And also for 90 days "seasoning" again on each sucessive yearly renewal.

So actually you CAN remove that money AFTER you get your first approval, but you MUST have 800K for 90 days (or 3 months) BEFORE you need to renew your extension.

So you can withraw that money or put it into a higher interest earning 6 or 9 month fixed rate term deposit account.

But be careful, some immigration offices want you to have access to that money available on demand .... 6 or 9 months term deposit accounts MAY not be approved by your local immigration office. Check with them before you plan to open such a 6 or 9 month term deposit account.

I don't know anything about the visa part, but your money is always available, you just won't get the original promised interest rate if you withdraw the money from the bank before the deposit matures.

[starship]

Interesting for the future. Does the 800k have to be transferred into Thailand from abroad for this visa each time, or can funds come from within Thailand (if you or partner are earning etc)? Does this equally apply if you are married to a Thai for 400k amount as mentioned previously?

[Mario2008]

There is no requirement to have the fonds comming from abroad. The requirement is simply that it must be in a bankaccount in Thailand under your name.

[jomaha]

There is no requirement to have the fonds comming from abroad. The requirement is simply that it must be in a bankaccount in Thailand under your name.

At least for me that is not true. I was asked to show documents from the foreign bank AND the Thai bank as evidence that the funds were sent from a foreign bank. That was at Bangkok Immigration Office when I applied for the retirement visa for the FIRST time, in 2011. The 2nd time a letter from the Thai bank and copy of passbook were enough,

[jomaha]

"Happy Senior" account @ Kasikorn Bank with more than 800 k Baht for more than 3 months

(It is a fixed deposit account for 30 months 2.7 % interest and free accident insurance)

Anybody able to confirm that it was accepted for Retirement Visa ?

[ubonjoe]

I think that was asked for when you applied for a non immigrant visa as part of the two step method not your first extension.

Proof of funds transfer was required at one time for this as shown on immigration web site.

[ubonjoe]

"Happy Senior" account @ Kasikorn Bank with more than 800 k Baht for more than 3 months

(It is a fixed deposit account for 30 months 2.7 % interest and free accident insurance)

Anybody able to confirm that it was accepted for Retirement Visa ?

As long you can take funds out of the account at any time then you should not have a problem.