Retirement extension renewal how long does the 800k have to be in the bank?

[PunkRockerGuy]

I put the 800k into a term deposit and just leave it there. That way, whenever I go to renew my extension I know the money has been there long enough to meet the requirement, plus as it's "locked" in it's not readily available to be blown on spontaneous purchases and earns a wee bit of interest as well.

Somewhere along the line I had it in my head that "term deposits" or "time deposits" were not acceptable. The reasoning was that the 800K was money that one would be using for living expenses.

But I was told a that a high interest account (I can only withdraw twice a month or there is a 500 baht fee) is OK. In practice, I witdraw once every couple months and put the money in an "everyday account" whicj earns much lower interest.

Never had any problems at Jomtien Immigration using the high interest account and good to hear that time deposits are also acceptable. Anyone else use time deposits for their 800K baht?

You could have zero baht for the previous 10 months the first year and Immigration could care less .. and 9 months for each subsequent year ... they only care about the bank statement for the aforementioned 2 months or 3 months, respectively.

[PunkRockerGuy]

Umm, maybe my banking terms are not up to snuff, but what in the world is "seasoning" concerning a bank account??

It means the money needs to age like a fine wine.

So for the 800K, when the seasoning is three months, the balance in the bank account can't go even ONE BAHT below 800K for the entire seasoning period before the immigration meeting.

The intent is to prevent short term loans, in theory anyway.

ah... got it now. I knew the rule, just not the term, "seasoning". Thanks !

[Muhendis]

Mario2008, by combo do you mean pension payments from abroad and money in the bank to reach the required amount

Correct. A combination of income proven by a letter from the embassy and money in the bank totaling 800K baht.

Ubonjoe is the authority on visa's on this forum.

Please can he explain how the combination method is calculated. For example. If the applicant has an income/pension of 50,000 Baht per month, how much savings would he be required to show in the bank account?

[ubonjoe]

Mario2008, by combo do you mean pension payments from abroad and money in the bank to reach the required amount

Correct. A combination of income proven by a letter from the embassy and money in the bank totaling 800K baht.

Ubonjoe is the authority on visa's on this forum.

Please can he explain how the combination method is calculated. For example. If the applicant has an income/pension of 50,000 Baht per month, how much savings would he be required to show in the bank account?

An income of 50k baht per month would be an annual income of 600K baht so you would need 200K baht in the bank.

But you have to remember the income would be in your home currency as shown on the income letter so you might need a little more if the baht's value was to increase just before you applied for the extension.

[Doc46]

I put the 800k into a term deposit and just leave it there. That way, whenever I go to renew my extension I know the money has been there long enough to meet the requirement, plus as it's "locked" in it's not readily available to be blown on spontaneous purchases and earns a wee bit of interest as well.

Plus, should I ever actually really, really need it (hospital bills, get out of jail/country, need to go back to the Frozenland and start over) it is there waiting (unless the bank crashes of course) !

Right now, the annual visa extension is the biggest head-ache I have to worry about every year, and by having that money tucked away, it makes life much less stressful.

I tried the same with a "fixed deposit account"...this was refused

I done with fixed deposit and was fine,,,4 months ago in Hat yai no probs,,,,,They say at immigration it depends on the person in charge of the office where you apply,,Some office rules vary from office to office. Ps no extra costs )

[ubonjoe]

I put the 800k into a term deposit and just leave it there. That way, whenever I go to renew my extension I know the money has been there long enough to meet the requirement, plus as it's "locked" in it's not readily available to be blown on spontaneous purchases and earns a wee bit of interest as well.

Plus, should I ever actually really, really need it (hospital bills, get out of jail/country, need to go back to the Frozenland and start over) it is there waiting (unless the bank crashes of course) !

Right now, the annual visa extension is the biggest head-ache I have to worry about every year, and by having that money tucked away, it makes life much less stressful.

I tried the same with a "fixed deposit account"...this was refused

It can depend upon the type of fixed term account you have.

They will accept a standard fixed term account but not one that does not allow you to withdraw funds at any time without delay or penalty other than loss of interest.

There are some that do not allow withdrawals for the term of the account without a significant penalty.

[louse1953]

I put the 800k into a term deposit and just leave it there. That way, whenever I go to renew my extension I know the money has been there long enough to meet the requirement, plus as it's "locked" in it's not readily available to be blown on spontaneous purchases and earns a wee bit of interest as well.

Somewhere along the line I had it in my head that "term deposits" or "time deposits" were not acceptable. The reasoning was that the 800K was money that one would be using for living expenses.

But I was told a that a high interest account (I can only withdraw twice a month or there is a 500 baht fee) is OK. In practice, I witdraw once every couple months and put the money in an "everyday account" whicj earns much lower interest.

Never had any problems at Jomtien Immigration using the high interest account and good to hear that time deposits are also acceptable. Anyone else use time deposits for their 800K baht?

Yeah me,for the last three years,no withdrawals.At Kap Ch, Surin.

[Suradit69]

first time is 2 months, after that it is always 3 months before you go to extend.

You can use the combo method, in that case money doesn't have to be seasoned.

I think the combo method is changing to 3 months as well. I just got my extension last week in Chiang Mai using the combo method without having the money in the bank for 3 months and was told that next year I would have to have the money in the bank for 3 months for my extension.

I renewed two months ago at Jomtien and there was no comment about that. Since you would need to calculate the combination of an income using a foreign currency and a deposit in Thai baht over three months to arrive at the total, what exchange rate would be used if it fluctuates during the three months to check that the total in the account always exceeded the Baht 65,000/month or Baht 800,000 per year?

Edited February 26, 2014 by Suradit69

[ubonjoe]

It is always the exchange rate on the date you apply for the extension. If they wanted the 3 months in the bank for combo method you would need to perhaps calculate the amount needed in the bank based upon an exchange rate 2 or 3 baht lower than the current rate.

[mrfaroukh]

Let us say you enter with a non immigrant visa, you get a 3 months visa when you enter country, then you open a bank account and deposit 800 000 Baht, you must wait 2 months before you get a letter from bank that your money was deposited for 2 months. Then use the letter to get your visa. But if you take out this money or use a part of it when you want to extend your visa after a year then you again need to have 800 000 Baht in the bank, but this time you should have it in the bank 3 months before the expiry of your existing visa.

If you have some kind of regular income if it is your retirement money, interest rate you get from the bank etc you can use this to get your visa as well. But then the monthly income all together should be 65000 Baht or more. You can also use partial income and money in the back, let us say you have 30 000 Baht income every month, so need to have only equivalent of 35000 Baht a month as bank deposit.

Hope this help

[tomdfc]

first time is 2 months, after that it is always 3 months before you go to extend.

You can use the combo method, in that case money doesn't have to be seasoned.

Can I confirm, Mario, that the first-time rule of 2 months applies in our situation too - being married, Brits, coming off the back of two single-entry non-Imm O's ganted in Laos, with wife applying (somehow, yet to be fully understood) as a "dependent"? As I understand it, we need to have "only" 800k (not 2 x 800k in a local bank.

And that the 2 month rule is in respect of the initial application for the extension application for long-stay / retirement, not the first renewal of the extension.

Thanks.

It is 60 days for the first application for a extension of stay from a non immigrant visa entry. It does not apply for the next extension.

The dependent extension is done all the time. As soon as you have your extension of stay stamp your wife then will apply for an extension as your dependent by showing copies of your extension and your marriage certificate (In English or translated to Thai).

The last statement about the dependent's extension being applied for and processed only after the application and processing of the lead partner's extension to stay obviously has implications for the "last day by which" the lead person's application should be submitted. As a rule of thumb, if the normal "last day by which to apply" is at least 15 days before the end of the 90 day non-Imm O visa period, should this now be 30 days in this situation? In other words, how long would the processing of the lead person's extension to stay be expected to take?

Finally, looking ahead to next year and beyond, can the lead and dependent's extensions to stay be submitted simultanously or will there always be this interdependence and timelag between the two?

Almost there

Thanks.

[ubonjoe]

first time is 2 months, after that it is always 3 months before you go to extend.

You can use the combo method, in that case money doesn't have to be seasoned.

Can I confirm, Mario, that the first-time rule of 2 months applies in our situation too - being married, Brits, coming off the back of two single-entry non-Imm O's ganted in Laos, with wife applying (somehow, yet to be fully understood) as a "dependent"? As I understand it, we need to have "only" 800k (not 2 x 800k in a local bank.

And that the 2 month rule is in respect of the initial application for the extension application for long-stay / retirement, not the first renewal of the extension.

Thanks.

It is 60 days for the first application for a extension of stay from a non immigrant visa entry. It does not apply for the next extension.

The dependent extension is done all the time. As soon as you have your extension of stay stamp your wife then will apply for an extension as your dependent by showing copies of your extension and your marriage certificate (In English or translated to Thai).

The last statement about the dependent's extension being applied for and processed only after the application and processing of the lead partner's extension to stay obviously has implications for the "last day by which" the lead person's application should be submitted. As a rule of thumb, if the normal "last day by which to apply" is at least 15 days before the end of the 90 day non-Imm O visa period, should this now be 30 days in this situation? In other words, how long would the processing of the lead person's extension to stay be expected to take?

Finally, looking ahead to next year and beyond, can the lead and dependent's extensions to stay be submitted simultanously or will there always be this interdependence and timelag between the two?

Almost there

Thanks.

There is not a 15 day requirement when applying for an extension of stay you can do it on the last day if you want.. The 15 days is only needed when doing a conversion to a non immigrant visa entry.

You can do the extension up to 30 (45 at some offices) days early as long as funds have been in the bank long enough.

Extensions of stay are completed on the same day you apply (except for Jomtien sometimes). The dependent extension can be done on the same day the person getting the other is done.

[Sophon]

Let us say you enter with a non immigrant visa, you get a 3 months visa when you enter country, then you open a bank account and deposit 800 000 Baht, you must wait 2 months before you get a letter from bank that your money was deposited for 2 months. Then use the letter to get your visa. But if you take out this money or use a part of it when you want to extend your visa after a year then you again need to have 800 000 Baht in the bank, but this time you should have it in the bank 3 months before the expiry of your existing visa.

If you have some kind of regular income if it is your retirement money, interest rate you get from the bank etc you can use this to get your visa as well. But then the monthly income all together should be 65000 Baht or more. You can also use partial income and money in the back, let us say you have 30 000 Baht income every month, so need to have only equivalent of 35000 Baht a month as bank deposit.

Hope this help

Your info about using the combination option is not correct. When using a combination of annual income and bank deposit the goal is a total of 800,000 baht, not 65,000 baht per month. Your example of 30,000 baht monthly income and 35,000 baht "a month" bank deposit only comes to a total of 780,000 baht and would leave you 20,000 baht short for meeting the requirement for an extension.

Sophon

[DB2]

Hi ubonjoe,

can you expand on the extension of stay, quote ( except Jomtien sometimes ) please

[ubonjoe]

Jomtien will often have you come back the next to day to pickup your passport after applying.

[choochoo]

Interestingly, it's pretty common for people to get wildly false information from front desk clerks at immigration from less than expert junior staff who also have language/terminology difficulties. At bigger offices, I don't feel it's the done thing to get access to the ACTUAL officials who really could provide definitive info. In that sense, the advice here is usually better than at immigration offices because you've got the pool of expertise and people who are on the spot to clarify confusion about terminology. Nothing's perfect though.

these clueless imbeciles default answer is CANNOT when in actuality they dont know what you asking.

Question....which line do i need to go to do something thats been done 10 million times. Lady say cannot. Lady next to her say CAN!!!!!!!!!!!!

[WBS2555]

I've searched the forum and can't see an answer to my question, so I'd be grateful for a reply to this :

I am currently on an retirement extension of stay, how long does the 800K have to be in my bank account, before I can renew the extension, is it three months or 4 months, before I go to immigration ?

Thanks for all replies / help.

If using 800,000 Baht in a Thai Bank or a combination of bank balance and monthly income:

i. Original Letter from your Thai Bank certifying your account and showing your balance (the letter should be dated within the last 7 days – most obtain the day before applying).

1. If using 800,000 Baht+ to meet financial resources:

a. First (Initial) Application - Needs to show funds have been on deposit at least 2 months before applying.

b. Subsequent (renewal) Application – Needs to show funds have been on deposit for at least 3 months before applying.

I opened a Foreign Currency Deposit AUD account with Bangkok Bank with a 3 months fixed deposit rate of 3.35% p.a. I requested the bank to issue the confirmation bank letter showing the type of account, account number and available balance in AUD currency as well as Thai baht currency. The bank using the exchange rate (buying TT) converting to Thai baht amount. (remember, exchange rates fluctuate, Immigration uses the rate in effect on the date of application). I visit BBL head office on Silom road and bring my passport, FCD bank passbook, complete application for a "Certified for a Letter of Account Status". The fee is 100 baht to issue such a letter to immigration.

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