Retirement Funds - 800,000 Baht

[ubonjoe]

hi a brit guy here, i aim to be permanent at end of the year, Brit question ,i hear embassy. which one ? Thai or Brit with the details,i hear there is one in Birmingham (but which one is that) how do go about it,and also i think it is a non o visa yes i need. so if say i go next november, but apply now i will have lost 5 months or wait until near november and then apply might sound silly questions, but got me stumped thanks kc

You would apply for a single entry non immigrant O visa at one of the Thai consulates in the UK. There is one in Birmingham. The visa will only be valid for 3 months from the date of issue so applying for it now would not work.

You would get an income letter from the UK embassy here.

[IMA_FARANG]

For a retirement visa/extension (and retirement only) you will need

• the sum of 800K baht deposited in a Thai bank. For the first (initial) application those funds must be in the bank for 60 days(2 months) before you submit the initial application. For every annual renewal you'll need that same bank amount on deposit for 90 days (3 months) before your renewal. OR
• the sum of 65K Thai baht monthly income from OUTSIDE of Thailand. (Not income you earn in Thailand). OR
• the combination of those 2 (or more) sources to total the sum of 800K Baht annually.
• For that combination therefore you can have 400K money and 400K annual income ....or any combination that adds up to 800K Thai Baht annually.
• For U.S. citizens you can get a affidavit of income from the U.S. embassy in Thailand. At present you do not need any verification of this income to get that affidavit form the U.S. embassy.
• However, you MAY be asked by Thai immigration to show a bank statement or in case of a Social Security pension a earnings statement from the Social Security ( the same notice the Social Security sends you annually for your IRS tax return.
• Note this is ONLY true of a retirement visa/extension. You CAN NOT use the same combination method for a marriage visa/extension.
• The marriage visa needs 400K in a Thai bank, OR the equivalent of 40K Thai Baht income from outside Thailand.
• As I said above the marriage visa/extension can NOT use the combination method like the retirement can.
• Just remember also, all the sources of funds must originate from outside of Thailand.
• You can NOT add income to the mix from any income source that comes from inside Thailand.... including borrowing the money from your family in Thailand.

O.K. ?

[chiang mai]

Not really, the discussion is about net or gross income as disclosed to the visa approval process, but your summary of all the rules is helpful for some I'm sure.

[choochoo]

I just sent an email to the US Embassy BKK asking what do they have to see, documents, to certify my monthly income. Hope they or someone answers.

They are just going to take your word for it. Their position is let the thais take care of the nitty gritty.

Gross is where its at.. You guys think thais know tax implications of every country known to man...............lol.

Edited May 24, 2014 by choochoo

[chiang mai]

I'll keep that point in mind should I decide to apply for a paaposrt from another country, I rather fancy a US passport, just for a change of pace!!!

No problem --- Start here:

http://travel.state.gov/content/passports/english/passports/new.html#step3

I've long known Crab that you don't do humour! My jocular remarks were in response to your, ah forget it, you wouldn't get that either!

The UK Embassy doesn't have the forensic capabilities either but that doesn't seem to stop them.

Say what! Why do I suspect the issue of Mexican and Canadian borders becoming relevant.

[IMA_FARANG]

The US Embassy in Bangkok does not have the forensic capabilities to determine that the documents you might present to them originating in the USA are authentic or have not been altered and therefore will not authenticate them. Same policy anywhere in the world.

I'll keep that point in mind should I decide to apply for a paaposrt from another country, I rather fancy a US passport, just for a change of pace!!!

No problem --- Start here:

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

On that point note however.

The U.S embassy does NOT certify the truth of what is in your income statement.

All the U.S embassy is certifying is that

You appeared before them and they verified you as a U.S. citizen

You told them what you claimed was your income

And they signed to certify that is in fact what you told them.

If you lied to them about your income, and the Thai immigration successfully contests that amount, the U.S. embassy will NOT DEFEND the truth of that amount you claimed.

All they are certifying with their signature is that you appeared before them and gave them this information which you claimed was correct.

Nothing more.

http://travel.state.gov/content/passports/english/passports/new.html#step3

[heybuz]

ok ,if my monthly income [pension] is 45000month how much do i have to have in the bank. sorry if this is a bit of a stupid question as all this leaves me a bit bewildered

[Leung Falang]

I just sent an email to the US Embassy BKK asking what do they have to see, documents, to certify my monthly income. Hope they or someone answers.

They are just going to take your word for it. Their position is let the thais take care of the nitty gritty.

Gross is where its at.. You guys think thais know tax implications of every country known to man...............lol.

Choo Choo, agree with you that US Embassy accepts your sworn testimony that the facts on the application letter are true. They will not look at any paper you have with you. They never have said why but I assume it is similar to any sworn testimony, risk of perjury should keep us honest.

A good friend's nickname in Houston, Texas was Choo Choo. His friends gave him that as he could mimic a train whistle that could scare you to death. He told me he learned how to do that growing up on an American Indian reservation in Oklahoma.

[chiang mai]

I just sent an email to the US Embassy BKK asking what do they have to see, documents, to certify my monthly income. Hope they or someone answers.

They are just going to take your word for it. Their position is let the thais take care of the nitty gritty.

Gross is where its at.. You guys think thais know tax implications of every country known to man...............lol.

Perhaps they do now and if not, you can bet they will come up to speed soon!

[rmacee]

While this thread is active ..quick question..or two

Irish passport but living in the UK for over 40 years so all income is from within the UK .. So will UK embassy 'handle' a confirmation of earnings request?

Second option put the 800k in myBangkok bank account next time back in Thai ..

Q. Can I apply for retirement visa within Thai?

[Oryx816]

The US Embassy in Bangkok does not have the forensic capabilities to determine that the documents you might present to them originating in the USA are authentic or have not been altered and therefore will not authenticate them. Same policy anywhere in the world.

I'll keep that point in mind should I decide to apply for a paaposrt from another country, I rather fancy a US passport, just for a change of pace!!!

I bet you wouldn't fancy paying US taxes on worldwide income even if you live outside the US. My husband would be happy to trade for your UK passport any day!

[ubonjoe]

ok ,if my monthly income [pension] is 45000month how much do i have to have in the bank. sorry if this is a bit of a stupid question as all this leaves me a bit bewildered

Your total annual income is 540k baht which means you need at 260k baht in the bank to reach the total of 800k baht.

[ubonjoe]

While this thread is active ..quick question..or two

Irish passport but living in the UK for over 40 years so all income is from within the UK .. So will UK embassy 'handle' a confirmation of earnings request?

Second option put the 800k in myBangkok bank account next time back in Thai ..

Q. Can I apply for retirement visa within Thai?

Not sure about the income letter. You should contact the UK embassy. The Irish consulate might also do it for you.

You can do a conversion to a 90 day non immigrant visa entry at immigration based upon qualifying for an extension of stay based upon retirement. Then after 60 days you could apply for an extension of stay.

[ChopperRay]

Any one from Australia received documentation for there pension to show imigration. My pensin is just paid direct in to my bank accoun and is not the same each month either. Onlly changes a few dollars.

Had no documentation in 10 Year.

Edited May 24, 2014 by ChopperRay

[firefox999uk]

My UK pension provider supplies my annual statement as GROSS.

This is what I send to the UK Embassy and the letter that I get states the amount in GROSS.

This letter in GROSS is what I give to Immigration.....end of

Have A Nice Day.

[MadDog2020]

Or you can just visit a well known immigration office and they will know how you can get 800k in a thai bank and paying 20k for it . TIT .

Why on earth at this time of turmoil would you go promoting corruption? Are you crazy.

[larsjohnsson]

The US Embassy in Bangkok does not have the forensic capabilities to determine that the documents you might present to them originating in the USA are authentic or have not been altered and therefore will not authenticate them. Same policy anywhere in the world.

I'll keep that point in mind should I decide to apply for a paaposrt from another country, I rather fancy a US passport, just for a change of pace!!!

I bet you wouldn't fancy paying US taxes on worldwide income even if you live outside the US. My husband would be happy to trade for your UK passport any day!

I'm from Sweden. And I would love to pay those very low US taxes

[Suradit69]

The THB 800k must be on deposit for two months in the first year of the visa and three months for every year thereafter.

If you use the income route, the net figure is the one that is used, pre tax funds don't count.

You can use a 50/50 combination of deposit and income rather just exclusively one or the other.

Income funds can be proved by taking your bank statements and pension documentation to the Embassy who will certify the source.

Funds on deposit for two or three months each year are certified by the bank who will provide a letter confirming that fact.

"I am at this moment I am going through the process of obtaining my retirement visa"

"The THB 800k must be on deposit for two months in the first year of the visa and three months for every year thereafter."

It isn't a visa. If you entered the country on a visa it would have been issued by an embassy or consulate outside Thailand. What you are applying for is an extension of stay issued by Immigrations within Thailand.

If you entered on something other than a Non-Imm O visa, under certain circumstances you can apply to Immigrations to change your entry stamp to create the impression you entered on a Non-Imm O visa, but you're still going to have to apply for an extension of stay each year, long after the visa has died and been consigned to history.

Edited May 24, 2014 by Suradit69

[FiestyFarang]

The THB 800k must be on deposit for two months in the first year of the visa and three months for every year thereafter.

If you use the income route, the net figure is the one that is used, pre tax funds don't count.

You can use a 50/50 combination of deposit and income rather just exclusively one or the other.

Income funds can be proved by taking your bank statements and pension documentation to the Embassy who will certify the source.

Funds on deposit for two or three months each year are certified by the bank who will provide a letter confirming that fact.

Hi I am actually going through this process this week. The mistake I made is that I had slightly over 800,000Baht in a Thai bank and applied for the Non O Retirement Visa which was given to me, starting with 90 days. I then took an amount out at an ATM. I was not told that I still needed the balance to be 800,000Baht or more when I extend the Visa for the full one year anytime between 60 and 90 days, in other words you need to keep the money in the bank for five months the first time you apply and then in the first year need to have it back in in the ninth month for the renewal. So sadly it looks like I will have to start all over again hopefully if they let me. I have been very worried and only realised this today so topped up the balance again to over 800,000Baht to start again. Am I correct as I can't call Immigration until Monday if they are working then even due to the coup.

[SanukJoeII]

As we have seen rules and acts of embassies vary per country. To join the melting pot of possibilities, here my (different) experience.

Dutch embassy in Bangkok has a form (downloadable) that states that the applicant is (name) with passport number xxx and lives at (address in Thailand). The embassy declares that the applicant is a Dutch citizen and has an annual income of ...... (to be filled out by the applicant!). The embassy even states that the annual income figure is the sole responsibility of the applicant and the embassy stays out of it.

Nice or not?

As stated no embassy here can notarize the documents about income, so it is a farce to pretend so. On top I think Immigration is not at all interested if figures are gross or nett and totally correct or not. If you have no money you will get stuck anyway, so it's up to you. Immigration is not your personal accountant telling you how much money you need monthly, things vary, depending on where you live and what your spending profile is.

I would advise all applicants for retirement extension to go to your local Immigration office and ask a paper with the requirements for retirement, based on pension, whether amount in the bank, monthly income or a combination of that. Also ask your embassy what they need for an Embassy Income Letter, some like mine (Dutch) allow to send in the form and your passport plus fee, they send it back in 2 weeks.

[FiestyFarang]

What if funds are deposited in bank in Singapore? Does it have to be in Thailand?

Yes if you are using the single person 800,000Baht. Ayudhya bank is one of the few banks that let you open an account without a work permit. Also they give interest on their savings account around 2.3% last time I looked with instant access via ATM etc.

[FiestyFarang]

Ok, don't know how relevant this is, but here's my story.

I started off with a Marriage Visa, but after my 2nd renewal, a CNX Immigration Officer asked me why I didn't change to a Retirement Visa, as it was less paperwork and overall hassle. So, the following year, I arrived and said I wanted to change to a Retirement Visa, and asked what I needed. NO mention of 800k in the bank was ever made. They told me to simply verify my income with statement from US Consulate, which I had to do anyway. I also took along official documents from the US government showing the verified monthly amounts of my SS and my VA Disability. The officer doing the paperwork took the two figures, added them together, converted them to Thai baht, looked at me, smiled and said "No problem". That was it. 10 minutes later I had my Retirement Visa. In the 4 annual renewals since then, a simple Income Verification from the US Consulate has been the only thing I've needed. Last year I asked them why, and they said the law had changed and that now I only needed to show a minimum income of 40k a month being deposited into a Thai Bank. That's it. Yet I still hear people talking about the 800k "in the bank". I would suggest you contact your local Imm Office and find out EXACTLY what they require, and not rely on what may or may not be hearsay on TVF, although TVF is generally an excellent source of information.

800,000Baht is an option for people that have no income or cannot prove it, there are plenty of people like this, ie people 50 or older but too young to receive their pension.

[FiestyFarang]

The US Embassy in Bangkok does not have the forensic capabilities to determine that the documents you might present to them originating in the USA are authentic or have not been altered and therefore will not authenticate them. Same policy anywhere in the world.

I'll keep that point in mind should I decide to apply for a paaposrt from another country, I rather fancy a US passport, just for a change of pace!!!

Edited May 24, 2014 by FiestyFarang

[FiestyFarang]

The US Embassy in Bangkok does not have the forensic capabilities to determine that the documents you might present to them originating in the USA are authentic or have not been altered and therefore will not authenticate them. Same policy anywhere in the world.

I'll keep that point in mind should I decide to apply for a paaposrt from another country, I rather fancy a US passport, just for a change of pace!!!

US citizens pay global taxation to the US no matter where they are! The only G20 country to do so. Why should a citizen pay tax to their country if they are not there?

[FiestyFarang]

The comments here are very informative, but can someone help me out? My 30-day fly-in stamp expires in a few days and I'm fed up with not having a proper visa, so I'm in the process of transferring 800K to my Thai bank - but it will take a few days.

To buy time, I'm booking a train to Nong Kai for another double-entry tourist visa. (The last time I went to Vientiane for a tourist visa went well.)

My main question is this: Does the 800K have to be seasoned when I first apply for the Non-O? Or just when I apply for the extension based on retirement? It would be great if I could get the Non-O on this trip to Lao - but I fear this is wishful thinking. Sorry if I've missed some main points, but I've searched and searched and still not clear on all of the aspects.

Sent from my iPhone using Thaivisa Connect Thailand mobile app

Read my comment posted to Chang Mai.

[Mario2008]

The money in the bank needs to be seasoned when you apply for an extension of stay, not to obtain a visa.

[Nielsk]

I often see mentioned 800.000 bath is a requirement. I'm not so sure:

Look carefully and se for Your self.

http://www.thai-consulate.net/thai-retirement-visa.htmlation

I'm from Denmark 72 Year old. Got my retirement visa january this year at Imigratin office soi 5 Jumptien.

Brought copy of my pensionpapers to the Danish consulate to proof my monthly income and they produced

a paper in thai for the imigration office. I filled in the proper fromular and paid and picked up my retirement visa the day after..

As I come back Again November a polite Thaiman handing over my papers advisede me to at the same time get a reentering visa,

I did so filling in the formular and paid the fee. Great for me.

Hope You will have same positive experience.

[chiang mai]

What if funds are deposited in bank in Singapore? Does it have to be in Thailand?

Yes if you are using the single person 800,000Baht. Ayudhya bank is one of the few banks that let you open an account without a work permit. Also they give interest on their savings account around 2.3% last time I looked with instant access via ATM etc.

Rubbish, anyone can open a bank account anywhere in Thailand, visa status is not relevant, you just have to just keep looking for branches that will accomodate you, often they are next door to each other.

[Nielsk]

I tryed opening an account in Pattaya/Jumptien. Not easy I gave up in the end. One bank would, but asked for address proved by Imigration office.

The other banks only would open accdount if I had stayed and worjede in Thaialand. So not rubbish Chiang Mai. New rules in some banks from january 2014.

[chiang mai]

I tryed opening an account in Pattaya/Jumptien. Not easy I gave up in the end. One bank would, but asked for address proved by Imigration office.

The other banks only would open accdount if I had stayed and worjede in Thaialand. So not rubbish Chiang Mai. New rules in some banks from january 2014.

There are no new rules, not in January, or even recently or ever!

If you can't open a bank account it's because you haven';t tried or because you are lazy,l try again, it can be done.