Investment Extension

[jbaldwin]

Since 2006 I have been getting 1 year extensions on investment ground by keeping 3,000,000 in a fixed deposit account. This option is not available to new applicants but those using this method when it was withdrawn can continue to do so.

I know that unlike a retirement extension the money must stay in the account and cannot be withdrawn.

I went into my bank today to withdraw the interest on the account, which is a 1 year fixed deposit. This account pays 2.25% interest. However, the same bank, Krung Thai, has a promotional 14 month account paying 3.4%. On a 3,000,000 baht deposit this promotional account would give me 34,500 baht more in interest over the next year.

My question is would it be acceptable to move my money into this promotion account. Technically a withdrawal that would invalidation my extension but the money would never leave to bank just be transferred to another account in my name.

[ubonjoe]

I think the most important thing is that balance never goes below 3 mil. You should be able to change accounts with out a problem.

[lopburi3]

I would not do it without official OK from immigration as they now administer this program.

[ubonjoe]

I assume that since account you have now is only for 1 year term you have been rolling it over every year. Changing over to different term account would be about the same thing.

But a call or visit to immigration would be advisable.

[merijn]

Be very careful with this as most times this is not allowed as they want to see the balance in one account for the required duration.

I experiences many times this situation albeit with normal ( retirement, marriage etc ) extensions and it was denied by the officer many times.

Better get approval beforehand from the immigration department and even then this is not a guarantee that they will accept it when you put in the application.

Edited August 24, 2013 by merijn

[MeowBundit]

Ask immigration first, but I also can't see any problem for bank to move your account under new promo program without changing account number...

[merijn]

Ask immigration first, but I also can't see any problem for bank to move your account under new promo program without changing account number...

But changing to a promotional account would probable means a new account number ( as it is a different account ) which could problems when renewing the extension.

[ubonjoe]

Be very careful with this as most times this is not allowed as they want to see the balance in one account for the required duration.

I experiences many times this situation albeit with normal ( retirement, marriage etc ) extensions and it was denied by the officer many times.

Better get approval beforehand from the immigration department and even then this is not a guarantee that they will accept it when you put in the application.

You are in a way comparing apples to oranges.

Doing anything with your account during the 60 or 90 day period for a extension of stay would be very unwise and doing it more than once (no comment).

With the investment extension you have to maintain the overall balance all the time. Changes of accounts would have to allowed because it would be inevitable that you would have to do it sometime over many years of extensions.

[Dukgae]

check with the bank, not necessarily a new account number. I recently changed from a one year fixed deposit to a 9-month promotional account with Krungsri, and it is same bank book, same account number.

[jbaldwin]

Thanks for the comments.

I was thinking about how big a problem it would be if my next investment extension was rejected. At the date of the next renewal I will be 49 and only about 7 months away from being able to get a retirement extension. I normally go to the UK once a year.

Would it be possible to get a multi-entry Non Im anywhere on the basis that i am 49 and going to apply for a retirement extension when I am 50.

Otherwise would a single entry be possible, which would mean that I would need a double entry tourist visa first.

[Lite Beer]

Nope.

You would only get a single entry in Asia. Even for that you would have to be 50.

Requirements for a Non Imm O Visa in UK from Hull Consulate website.

6) Visiting Thailand as Retired Person aged between 50 and 64 years

Evidence required:

a) Copy of Bank Statement showing income of minimum 65,000 baht per month or lump sum of minimum 800,000 baht. Statement must include name and address of visa applicant (address on statement must be same as “Present address” on Visa Application Form).

Either a single or multiple entry visa may be granted in these circumstances.

[jbaldwin]

Nope.

You would only get a single entry in Asia. Even for that you would have to be 50.

Requirements for a Non Imm O Visa in UK from Hull Consulate website.

6) Visiting Thailand as Retired Person aged between 50 and 64 years

Evidence required:

a) Copy of Bank Statement showing income of minimum 65,000 baht per month or lump sum of minimum 800,000 baht. Statement must include name and address of visa applicant (address on statement must be same as “Present address” on Visa Application Form).

Either a single or multiple entry visa may be granted in these circumstances.

Ok. So the plan would be to get a triple entry tourist visa in the UK (from Hull?) to cover the 7 months until my 50th Birthday - extending one of the entries. Then when I am 50 get a single entry Non imm O in Asia - where would this be possible Penang? Laos? - and then get a retirement extension.

This sounds like too much hassel even as a back up plan.

[Lite Beer]

That would sound the best plan to me.

Vientienne will issue a Non Imm O visa single entry.