latest Retirement lumpsome Money in bank?

[jacaranda]

in 2014, what is the latest lumpsome amount required in a thai bank deposit account for over 50 year olds to retire in thailand? and if approved , is it still a one year stay visa given first?

[ubonjoe]

You need 800k baht in a Thai bank for 60 days for the first extension of stay based upon retirement and then 90 days after that.

There is also the option of 65k baht income or a combination of money in the bank and income totalling 800k baht.

[jacaranda]

You need 800k baht in a Thai bank for 60 days for the first extension of stay based upon retirement and then 90 days after that.

There is also the option of 65k baht income or a combination of money in the bank and income totalling 800k baht.

in a thai bank for 60 days? then you can withdraw that on the day 61?? and how long is the first extension? then this time you deposit that amount back in the account ? if so then what extension you get on that one?

[ubonjoe]

An extension of stay is for one year.

You can take the money in the bank out if you want to after your extension is approved and stamped. You would then need to redeposit it 90 days before you apply for the next extension which will also be for one year.

[RogueLeader]

Strange law - not enough to live on, but too much to leave sitting in your bank account for 90 days, unspendable.

Edited January 22, 2014 by RogueLeader

[GreenSnapper]

Today I got my retirement extension at Imperial Lad Prao, Bangkok. Based on 800K seasoned for 3 months, same procedure as every year.

The previous day I went to my bank, updated the bank book and got the bank letter. I brought copies of everything, clean clothes.

That was not sufficient.

The lady claimed, I needed to update my bank book again, because it cannot be accepted from yesterday. I said, bank letter from yesterday, bank book from yesterday, nothing has changed.

Cannot!

I was very fortunate that the boss of the immigration lady just passed by and she asked what to do. "No problem".

Otherwise I had to leave the building, and find a bank branch because Imperial Lad Prao has only SCB and Krung Sri ( I believe).

This is new and very annoying.

Next year, I will go to my bank branch earliest in the morning, update book and get bank letter. Depending on their mood, I cannot get the bank letter on the same day, which would mean no visa extension. But so far with some begging and smiling, I could get the letter immediately. But be prepared for further hassles.

Then afterwards rush to the immigration to get your extension. This seems to be the only way now in Bangkok.

Note: some banks cannot update the book without some withdrawal. If you have a fixed account, it may even be impossible (Kasikorn). Be prepared for such additional difficulties, as this may depend if you finally receive an extension or not.

[steve73]

There seems to be plenty of pop-ups advertising a 1 year retirement extension with no fund requirement, on almost every internet page I visit. Not sure what they charge, or how illegal it is though, as I "do it right".

[lopburi3]

Retirement does not require bank funds if you have proof of 65k per month income - if you do not have that and false proof is supplied it would indeed be illegal. The same would be true of a bank account not belonging to you and is why there is now a 3 month seasoning requirement (prevents many of the one day accounts there were used in the past).

As for bank update on day of extension this has been normal since move to Chiang Watanna as there are branch offices of most banks one floor down - it should not be required at the temporary offices and suspect the "no problem" was officer doing the right thing.

[Dah fahrang]

How about an ATM print-out showing balance dated and timed on the day of the visit to Immigration?

I live 80km from my 'regional' office, and try to get there by 8.30am to get an early place in the queue.

To do this, I cannot visit a bank to get the book updated. But I can stop at an ATM and get a balance print-out for that day.

I will get my bank letter and passbook update one day before I go.

Anyone done this?

[GreenSnapper]

How about an ATM print-out showing balance dated and timed on the day of the visit to Immigration?

I live 80km from my 'regional' office, and try to get there by 8.30am to get an early place in the queue.

To do this, I cannot visit a bank to get the book updated. But I can stop at an ATM and get a balance print-out for that day.

I will get my bank letter and passbook update one day before I go.

Anyone done this?

You could try that, as it doesn't need much efforts from your side.

But generally, don't expect any logic or common sense from them. One officer says so, another says different.

If you show them the seasoned money on your bank, the bank letter and bank book update from the same day of the bank letter, you have actually fulfilled what the law says.

Generally keep your calm, be always polite and a bit subservient, be cleanly dressed, no shorts/tshirts and wear proper shoes, no body smells from traveling in non/ac busses etc.

Never give them any documents which are not demanded from the beginning. Thus, give your ATM print out only in the case of troubles coming up. In that case, they can save face if they demand some nonsense, and you have delivered something extra. You get the picture.