Extension of Stay

[mike2011]

First apologies for posting these questions. I have used the web to find an answer. However, there are conflicting statements and I thought it better to ask than trusting my own potentially flawed judgment.

Arriving on a 60 days tourist visa allows me an extension for month (cost 1900 baht). After that I can apply for an extension of stay for a year provided I have 800,000 baht in an account. Do I need to have the money in the account for 3 or 2 months on first application? I read 3 months but some guys told me first time you apply it is only 2 months. I am little confused about this very important point.

Another question would be where to apply? I know Thailand quite well, but to stay longer in one place I am still undecided. BKK and Pattaya I stayed but the traffic is just a nightmare - so i need to try a new place I know less. The question is assuming I apply for the extension in say Chiang Mai I would have to report all the time to CM immigration? If I extend for another year could I pick another location? Is it possible to switch immigrations for reporting?

800,000 baht. I already have a bank account with one of the big banks but their exchange rate is not as good for instance Superrich in BKK. So I am planning to transfer the funds to the bank but do the exchange with Superrich. Now the idea of running around BKK with a large amount of cash does not appeal to me. Anyone done such large exchanges and used a bank transfer or what can be done?

I tried the web but feel insecure about these important matters so I posted this specific points. Hopefully the answers will not only help me but others as well.

Thanks in advance. Your info is greatly appreciated.

Edited December 6, 2013 by mike2011

[ubonjoe]

You do not need the money in the bank for 60 days when you go immigration to do a change of visa status to obtain a a 90 day non immigrant visa entry. You must have at least 15 day remaining on your current entry to do it.

Then 60 days after that you can apply for the extension of stay.

You can change locations after you do the extension. Some offices may want you to do a change of address TM28 form.

Most offices will let you do the 90 day report if you have a local address to use on the TM47 form.

[Sceptict11]

Let us address the issue of cash first. You may have to prove the source of funds and changing money at Superrich will not do that.

You would be better advised to seek a change of visa status during the validity of your tourist visa. You will have to demonstrate the source of funds.

If you are undecided where you wish to settle maybe you have not spent enough time in Thailand.

Of course moving is possible but you will need to deal with the "hassle factor!

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Edited December 6, 2013 by Sceptict11

[ubonjoe]

I suggest you have fund transfered into a Thai bank account. There is really not that much difference between funds transfered in rates and money changers.

[mike2011]

Thanks for the very fast replies.

Money> I did not make my point clear. I will transfer a sum from abroad into my Thai bank account. This will be in US $ and the account is in US $ (simply adding more funds to the existing ones). As the bank's own exchange rate cannot compete with other institutions, say Superrich, I was thinking of doing the exchange there. Thus, getting the money from the bank to Superrich makes me worry, and then of course back to the bank with the best time deposit rate for an account with 800.000 bath.

The bank (Krungsri) will certify that I had that incoming funds from the transfer as they know me for years and the lady in the foreign currency deposit department is simply very nice and most polite.

From the above I gather that I start moving on the change of visa to non-immigrant during the first 60 days right away and dont go for the 1 month extension - as the 60 days are no necessary on first application. Is that correct? Sorry for asking the perhaps obvious but just to be sure.

[ubonjoe]

You can do it during your 60 day entry but you must have at least 15 days remaining on it. You can do it the same day the money is in the bank if you want to.

[Sceptict11]

Thanks for the very fast replies.

Money> I did not make my point clear. I will transfer a sum from abroad into my Thai bank account. This will be in US $ and the account is in US $ (simply adding more funds to the existing ones). As the bank's own exchange rate cannot compete with other institutions, say Superrich, I was thinking of doing the exchange there. Thus, getting the money from the bank to Superrich makes me worry, and then of course back to the bank with the best time deposit rate for an account with 800.000 bath.

The bank (Krungsri) will certify that I had that incoming funds from the transfer as they know me for years and the lady in the foreign currency deposit department is simply very nice and most polite.

From the above I gather that I start moving on the change of visa to non-immigrant during the first 60 days right away and dont go for the 1 month extension - as the 60 days are no necessary on first application. Is that correct? Sorry for asking the perhaps obvious but just to be sure.

`So let me try to understand the logic here.

Withdraw a chunk of money from bank in dollars. Take the dollars to a money changer. Return to the bank with lots of Bht.

You have a forensic trail?

Or does the whole process look like money laundering ?

[attrayant]

I didn't know you could transfer money here and keep it in your local currency. My bank (credit union) told me they had to convert my USD into THB as K Bank wouldn't accept incoming funds in any form other than THB. Of course my credit union got a cut from the conversion. I guess I got suckered.

[Sceptict11]

I didn't know you could transfer money here and keep it in your local currency. My bank (credit union) told me they had to convert my USD into THB as K Bank wouldn't accept incoming funds in any form other than THB. Of course my credit union got a cut from the conversion. I guess I got suckered.

It is possible to hold funds in a foreign currency account in Thailand. Ask your bank for detail.

[Suradit69]

I didn't know you could transfer money here and keep it in your local currency. My bank (credit union) told me they had to convert my USD into THB as K Bank wouldn't accept incoming funds in any form other than THB. Of course my credit union got a cut from the conversion. I guess I got suckered.

Your transfer should be denominated in dollars. For one thing a Thai bank is going to give you a better rate than a US bank or credit union. Secondly, you will be charged a higher transfer charge by your Thai bank if the transfer is in baht. Lastly, if you need to show that you have a foreign sourced deposit, the deposit needs to be received by the Thai bank in foreign currency. As far as they and Immigrations are concerned, a Baht transfer fails to qualify as a foreign sourced deposit.

Of course K Bank accepts dollar or pounds or Euros or ...

Edited December 6, 2013 by Suradit69

[Suradit69]

Thanks for the very fast replies.

Money> I did not make my point clear. I will transfer a sum from abroad into my Thai bank account. This will be in US $ and the account is in US $ (simply adding more funds to the existing ones). As the bank's own exchange rate cannot compete with other institutions, say Superrich, I was thinking of doing the exchange there. Thus, getting the money from the bank to Superrich makes me worry, and then of course back to the bank with the best time deposit rate for an account with 800.000 bath.

The bank (Krungsri) will certify that I had that incoming funds from the transfer as they know me for years and the lady in the foreign currency deposit department is simply very nice and most polite.

From the above I gather that I start moving on the change of visa to non-immigrant during the first 60 days right away and dont go for the 1 month extension - as the 60 days are no necessary on first application. Is that correct? Sorry for asking the perhaps obvious but just to be sure.

It seems like the problem might arise if you wanted to claim you had Baht 800,000 in an account and the manager wrote a letter to support that claim for that account. There would be no reference in the bank passbook or the manager's letter to a foreign sourced deposit to that account. If the manager writes a letter for the two accounts and $30,000 (or whatever) is withdrawn from one account and a baht deposit is made to your Thai baht account, that stands a good chance of setting off red flag alerts depending on which Immigrations officer you deal with. You may end up trying to explain something to an Immigrations officer whose English is not that good (depending mostly on which office you use) and who just refuses to deal with something totally abnormal in his view.

The lady at the bank may be your best bud ever, but she isn't the one who decides about extensions of stay. What is the difference in rates that's so exciting? And if you hold in dollars for a longer time, it's always possible the rates could change dramatically in either direction.

You're confusing what is needed for the Non-Imm O conversion and what is needed for the extension based on retirement. No need for 60 days in the bank for the former, but then you will need the 60 days in the bank when you apply for the extension.

Edited December 6, 2013 by Suradit69

[meatboy]

are you saying superrich gives you a better rate for cash than doing a swift trans.to your bank in thailand in your currency then the thai bank converts to baht as the telex tranfer rate.

[mike2011]

Yesterday I compared the Krungsri and Superrich rates. It was 0.8 bath or 20K on 800.000 baht, say 620 US. No small change for a taxi ride. I would anyhow have to decide where to get the time deposit. I am following this thread http://www.thaivisa.com/forum/topic/560837-bank-savings-interest-rates/page-38

to give me some idea. In sum, prudent comparisons might render an overall saving and increased interest of up 750-800 US total. Not bad for a mornings work.

I trust that the documentation produced by the transfer to Krungsri would be fine. The documentation for immigration would be the 800K from the time deposit. I still need to figure out if Superrich accept a transfer from Krungsri - I am afraid they wont. Has anyone experience with such a transaction in case it would be possible?

Thanks for the clarifications on the 60 days. When I spoke with expats during my last visit things obviously got confused in my mind. The warning about potential complications is gold worth and might save me from a major headache.

I do not quite understand the reference to keeping my money in the US $ account. Is this possible and get a letter from the bank? I always thought it has to be converted into Thai baht. This would be very interesting as I suspect that the baht will drop further in the coming 1-2 years. I am speculating, of course, but everthing I read points to that direction.

Again thanks for all the valuable info and advice. It makes me feel much better and a bit more confident about taking this step ahead of me.

[Maestro]

I have seen reports from some members saying that an account in a foreign currency was accepted and some other reports that it was not. Therefore, it will be best to inquire at your local immigration office how they view it.

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