Retirement visa money question

[Jingthing]

Does there have to be a minimum balance of 400,000 baht for 2 months or is it ok if the amount goes below 400,000 from time to time?

Not sure what you are asking.

The retirement extension bank method requires 800K seasoned for two months first time, three months, later times.

The retirement extension income method requires an income of at least 65K monthly.

The retirement extension COMBO METHOD requires ANY combination of income PLUS bank account totaling to at least 800K.

Generally the bank portion for combo method applications requires NO SEASONING.

However, there are some provincial offices requiring seasoning for combo applications, and recently reports from BANGKOK saying there is a very new national rule to that effect.

Personally, I am very skeptical that such a new rule exists and to my knowledge nobody here has been able to produce the text of it.

Also, as far as a know the major office of Jomtien is not following this supposed new rule.

However, it is something worth watching to those using the combo method.

Money seasoning in general, yes, means that the account cannot go even one baht below the required level for the money seasoning period (two or three months).

Edited September 4, 2014 by Jingthing

[arunsakda]

About money seasoning. 2 months not a problem. What if the 800k Bht has already been in a Thai bank for a few years?

[Nielsk]

Boy people what is the problem? put money in bank if you don't have the money you don't have the money to live here stay in home country geez. simple. Got enough cheap charlies and crooks here as it is.

____________________________________________________________________________________________________________________________

Just because the OP does not have 800,000 baht or 65,000 per month does not mean that he is either a cheap charlie or a crook. Many of us live here on way under that figure.........legally I might add.

It annoys me sometimes that here on TV many posters think that just because they have a bucket load of cash or big pensions that they are the only ones worthy of being able to stay here. We are all contributing to the Thai economy every day no matter how small or great so please get off your high horses.

You say: "Just because the OP does not have 800,000 baht or 65,000 per month does not mean that he is either a cheap charlie or a crook"

If You not meet the requirements by Thai law and try to get around it by cheating. To me that is a crook.

Sorry !

[Jingthing]

About money seasoning. 2 months not a problem. What if the 800k Bht has already been in a Thai bank for a few years?

There is no maximum money seasoning period.

We've had reports of people not touching that 800K baht account for many years.

Officers MIGHT ask so how are you living ... so be prepared to show evidence of that if asked.

As said before if doing a CONVERSION in Thailand from a 30 day stamp or tourist visa to an O, then proof of external incoming transfer may be demanded.

[Jingthing]

Boy people what is the problem? put money in bank if you don't have the money you don't have the money to live here stay in home country geez. simple. Got enough cheap charlies and crooks here as it is.

____________________________________________________________________________________________________________________________

Just because the OP does not have 800,000 baht or 65,000 per month does not mean that he is either a cheap charlie or a crook. Many of us live here on way under that figure.........legally I might add.

It annoys me sometimes that here on TV many posters think that just because they have a bucket load of cash or big pensions that they are the only ones worthy of being able to stay here. We are all contributing to the Thai economy every day no matter how small or great so please get off your high horses.

You say: "Just because the OP does not have 800,000 baht or 65,000 per month does not mean that he is either a cheap charlie or a crook"

If You not meet the requirements by Thai law and try to get around it by cheating. To me that is a crook.

Sorry !

I wouldn't call not breaking the law or rules cheating.

Again, there really is no rule saying no money borrowing.

There are policies (seasoning) in place that presumably discourage it.

NOT the same thing.

I do understand there are ethical and moral questions about any actions taken though.

I can see why people might think that legally borrowing money to fund an extension qualifying account is not ethical.

I don't see much difference than when filing taxes and doing everything legal to avoid paying more than you are legally required to.

Is that unethical?

Up to you.

Also on this point, some people are very confused and think there is some kind of requirement to actually SPEND 800K annually. Nope. You aren't required to spend anything at all. Many people indeed live here for MUCH LESS than that in a typical year ... especially people who own their homes here.

Having that much income or savings of course serves as some kind of CUSHION in case of the inevitable expensive curve balls that live predictably throws at us ... sooner or later.

To clarify, in my opinion using commercial dodgy visa fixer operations which don't actually season the money ... that is not the same kind of thing. Cheating would probably be a mild word for that activity.

Edited September 4, 2014 by Jingthing

[balo]

This is Thailand , where cheating is accepted in many places. But when the junta took over , I was thinking this would stop now.

But I was wrong , one immigration office still issue retirement visas, and receives money under the table.

.

[Jingthing]

This is Thailand , where cheating is accepted in many places. But when the junta took over , I was thinking this would stop now.

But I was wrong , one immigration office still issue retirement visas, and receives money under the table.

.

You are correct.

I have been addressing the question of borrowing money to create a legal extension application with required seasoning times properly followed.

The phenom you are talking about is something else.

Really two DIFFERENT topics.

Edited September 4, 2014 by Jingthing

[arunsakda]

About money seasoning. 2 months not a problem. What if the 800k Bht has already been in a Thai bank for a few years?

There is no maximum money seasoning period.

We've had reports of people not touching that 800K baht account for many years.

Officers MIGHT ask so how are you living ... so be prepared to show evidence of that if asked.

As said before if doing a CONVERSION in Thailand from a 30 day stamp or tourist visa to an O, then proof of external incoming transfer may be demanded.

( I didn't even know you can do a conversion from a 30 day stamp to an non-O. That would be convenient for me.

I am an offshore type relying on visa exempts exclusively so far. I wont be 50 for a few more years (if visa exempts become a problem for me I will "Elite" it).

My balance is growing in fixed accounts which I reinvest. Deposits gradually coming from ACH transfers to NYC Bangkok Bank, but also some cash I bring in on my person. Just wondering if I will eventually need any more documentation of all the dosh coming from abroad other than my Passbook, and the bank letter.

Edited September 4, 2014 by arunsakda

[Jingthing]

You can do a conversion to O at some but not all offices (the big offices, generally yes) as part of the so called "two step" process ... where the first step is the conversion and the second step in the retirement extension.

As far as proving incoming transfers for such a conversion, nobody here can give you guarantees of what they will ask and what they will accept, but of course keep records of all your incoming transfers. Also the passbook should have a CODE indicating the transfer was from abroad. Seems to me that should work.

You know, I wouldn't stress about this. You could always get a single entry O in Malaysia and avoid a conversion in Thailand if for some reason they don't accept the evidence of foreign transfer.

Again, this is an issue for CONVERSIONS only.

[OJAS]

Even if I agree with you that the poster of your quote is way too harsh, you are wrong. You can't live here legally on a retirement visa if you don't have 800k or 65k a month (or combo)

Wrong...............some nations have made agreements with Thailand that their citizens can swear to an income and the embassy stamps it. Immigration accepts that paper making it satisfactory for a retirement visa. I have one. No 800 G's or 400 G's in the bank. Never had. And I have a retirement visa.

Not 100% accurate either. ANY retiree, regardless of their nationality, can prove finances on the basis of 65,000 THB minimum monthly income as verified by their Embassy for extension of stay purposes. Whether a particular embassy chooses to issue verifications on the basis of a sworn declaration (as per the American model) or the provision of tangible evidence (as is required for us Brits) is a matter for that embassy.

[Jingthing]

I agree. Embassy policy on what to require to issue income letters is independent. Nothing to do with special agreements with Thai immigration.

[RKASA]

Boy people what is the problem? put money in bank if you don't have the money you don't have the money to live here stay in home country geez. simple. Got enough cheap charlies and crooks here as it is.

____________________________________________________________________________________________________________________________

Just because the OP does not have 800,000 baht or 65,000 per month does not mean that he is either a cheap charlie or a crook. Many of us live here on way under that figure.........legally I might add.

It annoys me sometimes that here on TV many posters think that just because they have a bucket load of cash or big pensions that they are the only ones worthy of being able to stay here. We are all contributing to the Thai economy every day no matter how small or great so please get off your high horses.

Even if I agree with you that the poster of your quote is way too harsh, you are wrong. You can't live here legally on a retirement visa if you don't have 800k or 65k a month (or combo)

Wrong...............some nations have made agreements with Thailand that their citizens can swear to an income and the embassy stamps it. Immigration accepts that paper making it satisfactory for a retirement visa. I have one. No 800 G's or 400 G's in the bank. Never had. And I have a retirement visa.

Yes right not wrong - you have 65k a month because you said so and if you lied - don't get caught, because without the passport (the one you will lose) you will not be here vary long and because you will never get it back you will never be back to Thailand ether. So you do live here legaly with that statement, but only if it is true - otherwise you are braking US law and Thai law at the same time - good luck with that.

[MikeOwen]

Will someone give a quick summary of how much money one needs to show if married to a Thai?

Thanks

400,000 baht

[totallyobnoxiousme]

Boy people what is the problem? put money in bank if you don't have the money you don't have the money to live here stay in home country geez. simple. Got enough cheap charlies and crooks here as it is.

____________________________________________________________________________________________________________________________

Just because the OP does not have 800,000 baht or 65,000 per month does not mean that he is either a cheap charlie or a crook. Many of us live here on way under that figure.........legally I might add.

It annoys me sometimes that here on TV many posters think that just because they have a bucket load of cash or big pensions that they are the only ones worthy of being able to stay here. We are all contributing to the Thai economy every day no matter how small or great so please get off your high horses.

Arrogant Braggarts comes to mind ...Bad karma ....

How different would people act if they couldn't show off on social websites ? Would they still do it in front of a real audience say' in the Pub ?

[totallyobnoxiousme]

I disagree 100 percent.

Borrowing the money is not prohibited under any existing Thai written law.

So ipso facto: IT IS ALLOWED.

To follow the law, the money in the bank must be seasoned for two months for the first extension, and three months for subsequent ones when using the 800K bank method.

Yes, there are commercial visa fixers who have methods of providing the funds and based on information I have gleaned, no they do not even bother to season the funds.

Those who have obtained extensions via commercial outfits using dodgy methods, and you know who you are, I am not sure how you sleep at night, but that's your business.

While the visa fixers are obviously "stretching" the law when not actually seasoning the funds, say no more, wink wink nod nod, if you get a loan and season the money you are actually in compliance.

As has been mentioned before, if doing a CONVERSION in Thailand from a 30 day stamp or tourist visa to O IN Thailand, then there is a problem because the money is supposed to be IMPORTED FROM ABROAD for that purpose. Whether they enforce that or not is another matter.

Aside from that, there is no requirement that money for extensions be IMPORTED from abroad though.

Many people will likely reckon that the money seasoning rules were instituted to discourage / add extra costs (see wink wink nod nod above) borrowing money for these accounts. Fair enough, they may do that, but that is not the same thing as specifically PROHIBITING the practice.

People in glasshouses should NOT throw stones !!!!!!!!!

[bubbadaguy]

You can do a conversion to O at some but not all offices (the big offices, generally yes) as part of the so called "two step" process ... where the first step is the conversion and the second step in the retirement extension.

As far as proving incoming transfers for such a conversion, nobody here can give you guarantees of what they will ask and what they will accept, but of course keep records of all your incoming transfers. Also the passbook should have a CODE indicating the transfer was from abroad. Seems to me that should work.

You know, I wouldn't stress about this. You could always get a single entry O in Malaysia and avoid a conversion in Thailand if for some reason they don't accept the evidence of foreign transfer.

Again, this is an issue for CONVERSIONS only.

the passbook does have a code indicating funds received from outside of thailand. i had it explained to me a while back by

both a bank officer and by an immigration officer. and they have also checked to make sure my total of 800,000 baht in

the bank total did not go under that limit at all during the 2 or 3 month period. checked every deposit and every

withdrawal to make sure the 800,000 limit was NOT broken.

[ib1b4]

A question regarding the 90 day period for renewing extension....Is the 800,000 baht required to be shown in a bank account 90 days before current extension expires , or 90 days before lodging your documents for the next extension?

[samsensam]

Boy people what is the problem? put money in bank if you don't have the money you don't have the money to live here stay in home country geez. simple. Got enough cheap charlies and crooks here as it is.

indeed. those are the rules.

if you want to live in Thailand show some respect and obey the rules. its. not. difficult.

[Gracas]

Question regarding the 800K Baht in a Thai Bank method.

Does it matter what type of account you place this money in ?

Must it be a Savings account or can it be a Fixed Term account ?

[ib1b4]

Question regarding the 800K Baht in a Thai Bank method.

Does it matter what type of account you place this money in ?

Must it be a Savings account or can it be a Fixed Term account ?

To the best of my knowledge either is fine but must in your name alone. (no joint accounts )

[Jingthing]

A question regarding the 90 day period for renewing extension....Is the 800,000 baht required to be shown in a bank account 90 days before current extension expires , or 90 days before lodging your documents for the next extension?

Good basic question.

The seasoning applies to the time you go in to immigration, NOT the expiration date of your stay.

Seasoning is needed (for 800K) two months before first extension, three months for all later ones.

[Jingthing]

Question regarding the 800K Baht in a Thai Bank method.

Does it matter what type of account you place this money in ?

Must it be a Savings account or can it be a Fixed Term account ?

To the best of my knowledge either is fine but must in your name alone. (no joint accounts )

The money is supposed to be immediately available so the safest choice is a regular savings account.

If you want to try something else, best to first seek out advice from your local immigration office for their current policy about that.

[ib1b4]

A question regarding the 90 day period for renewing extension....Is the 800,000 baht required to be shown in a bank account 90 days before current extension expires , or 90 days before lodging your documents for the next extension?

Good basic question.

The seasoning applies to the time you go in to immigration, NOT the expiration date of your stay.

Seasoning is needed (for 800K) two months before first extension, three months for all later ones.

Thank you for your reply.

[gregvc]

I know that the US embassy will stamp your assertion of 800,000 baht without actually seeing it. Does the Australian embassy do the same?

[taiwanatoa]

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Boy people what is the problem? put money in bank if you don't have the money you don't have the money to live here stay in home country geez. simple. Got enough cheap charlies and crooks here as it is.

____________________________________________________________________________________________________________________________

Just because the OP does not have 800,000 baht or 65,000 per month does not mean that he is either a cheap charlie or a crook. Many of us live here on way under that figure.........legally I might add.

It annoys me sometimes that here on TV many posters think that just because they have a bucket load of cash or big pensions that they are the only ones worthy of being able to stay here. We are all contributing to the Thai economy every day no matter how small or great so please get off your high horses.

How can you live here legally if you don't have 800,000 Baht or 65,000 Baht.

I have to show it to get my extension.

And NO i am not a rich man.

Obviously you are.

[taiwanatoa]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Boy people what is the problem? put money in bank if you don't have the money you don't have the money to live here stay in home country geez. simple. Got enough cheap charlies and crooks here as it is.

____________________________________________________________________________________________________________________________

Just because the OP does not have 800,000 baht or 65,000 per month does not mean that he is either a cheap charlie or a crook. Many of us live here on way under that figure.........legally I might add.

It annoys me sometimes that here on TV many posters think that just because they have a bucket load of cash or big pensions that they are the only ones worthy of being able to stay here. We are all contributing to the Thai economy every day no matter how small or great so please get off your high horses.

Yeah really. These rich &lt;deleted&gt; have such attitude,don't they?

[Jingthing]

I know that the US embassy will stamp your assertion of 800,000 baht without actually seeing it. Does the Australian embassy do the same?

It was mentioned here before that the Australian embassy, like the U.S., takes your word for it.

Each embassy is free to have their own policies on what they require to issue these letters.

The Thai government has no power over such specific policies.

Cheers.

[natway09]

Without everybody getting hot headed about this, the rquirements for a retirement visa here are very minimal.

Incidently if you are working for a Malaysian Co you haven't retired, have you?

I do not think it is a matter of "I've got mine mate F U!!!"

I really believe that if you are over 50 & cannot put (& I suggest have to leave for the year) 800K in a Thai bank account

you maybe should consider staying in your home country

[bangkoklasse]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Boy people what is the problem? put money in bank if you don't have the money you don't have the money to live here stay in home country geez. simple. Got enough cheap charlies and crooks here as it is.

____________________________________________________________________________________________________________________________

Just because the OP does not have 800,000 baht or 65,000 per month does not mean that he is either a cheap charlie or a crook. Many of us live here on way under that figure.........legally I might add.

It annoys me sometimes that here on TV many posters think that just because they have a bucket load of cash or big pensions that they are the only ones worthy of being able to stay here. We are all contributing to the Thai economy every day no matter how small or great so please get off your high horses.

How can you live here legally if you don't have 800,000 Baht or 65,000 Baht.

I have to show it to get my extension.

And NO i am not a rich man.

Obviously you are.

How can it be obvious that he is rich??? In my home country 65k a month would probably be the lowest monthly salary in the whole country. And you would get social welfare every month with that income.

And the 65k is before tax. So in many countries you will only have 45k left to spend.

Edited September 5, 2014 by bangkoklasse

[GinBoy2]

Question regarding the 800K Baht in a Thai Bank method.

Does it matter what type of account you place this money in ?

Must it be a Savings account or can it be a Fixed Term account ?

To the best of my knowledge either is fine but must in your name alone. (no joint accounts )

The money is supposed to be immediately available so the safest choice is a regular savings account.

If you want to try something else, best to first seek out advice from your local immigration office for their current policy about that.

Obviously none of us can give a definitive answer for all immigration offices, after all TiT. That being said I did ask the question of immigration in Khon Kaen and they at least, told me they require it to be in a regular savings account and would not accept a Fixed Deposit account