Retirement Visa. Detailed Information Needed

[ThaiFarmer]

Hi Fellows,

Prepare yourself for a long and interesting letter!

Facts:

I'm from Sweden and I'm over 50 years old. I've been married (in Sweden) to a thai citizen for 21 years. She is now below 50 years old.

We've just built a house in Isaan (the place where the wonderful Luktung music comes from!) for a couple of millions (earned together and transferred to Thailand thru a bank account). My wife is the legal owner of the house and the land.

When leaving Sweden we will sell all we have here, send another couple of millions to Thailand and buy land, in my wife's name of course, to grow sugar canes. We will also put some savings in a bank account.

I call my self "ThaiFarmer" even if I know I cannot work as a such. But I can overlook the business and advise my wife and the staff through HER I suppose....! I don't have to WORK, just TALK to my wife a little now and then just as we've done for the last 22 years....!!).

There will at first be a couple of years when I don't receive any pension from Sweden (until I'm 61). That's partly why I have the question/-s below.

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I've studied your documents concerning Retirement Visa forwards and backwards and looked in FAQ and so on but I can't find the answer of the following question.

First a clip from the rules:

"Letter from your embassy saying you wish to retire in Thailand For an applicant who is over 50 years old, proof of a sum of 800,000 baht in a Thai bank OR an income of not less than 65,000 baht per month must be presented - OR a combination of balance in the bank and a monthly income. Example: 400,000 Baht in the bank and 32,500 Baht coming in every month."

Starting point:

- I have 800.000 THB and I put them in a Thai bank from abroad the first year I apply for a Non-Immigrant O-visa. I do NOT need to present a monthly income if I've understood the text above.

- I don't have to touch the 800.000 THB ever during my retirement.

Question:

- Are not the Immigration Authorities interested in how I survive in Thailand. I mean, if I don't touch the 800.000 THB in the bank account, where does the money for all I need for living come from? When having a Retirement Visa I cannot work! Right? So money just HAVE to come in from abroad. But they don't care as long as I have 800.000 THB in my account, or..................!? Have I misunderstood something here?

- There's at least one more possibility, of course, and that is that someone supports me during my retirement. A rich Thai wife for example!!! If so, do they not ask for any proof? Or are we talking about another sort of Visa now. Alien supported by Thai wife or something?

- Are perhaps the Immigration Authorities satisfied if they are shown another bank account with savings sent from Sweden before we've left the country? I mean with money enough to live several years in Thailand.

- Or do I have to take out my 800.000 THB once a year, send them abroad and let someone send them back to my bank account again, just to satisfy the Immigration Authorities?

- By the way! Can I have my own bank account with my own savings in Thailand (in case she past away before me). What happens if money are coming into that account not from abroad??? For example from selling sugar canes from my wife's land????????? Am I allowed to receive gifts (money) to be put in my bank account?

Is it being complicated now? Puuuuhh! What do you think I think!

But I must do the right thing in the right order. My whole future can depend on it.

Conclusion:

- Yes I know what you think out there! Rich man's problem. But not at all. We've been struggling with simple works all our life just to be able to retire in Thailand.

- And yes! I have to trust my wife to 100% (well, I do!). She will be in charge for all our money earned together in almost a lifetime. I must depend on her now just like she depended on me when she left her country 22 years ago! Why not! But it's a good reason for me NOT to get involved with one or more "mia noi"!!! If caught by her I will end up very poor I think..............!

Please give me some advice.

[lopburi3]

You also have the option to come to Thailand and support you wife here at half the price; will be 400k in bank account rather than 800k; and still be able to work with a work permit if you want. I believe you will be asked about income and a figure will have to be entered on forms but do not believe it is currently a major item if you have the funds in a bank account and most people will use a joint account for this which will cover the death question. They do like to see money movement rather than a static account but don't believe they are too fussy about it. It seems you are doing everything you can to keep within the lines so there is unlikely to be any big problems.

[Dah fahrang]

But it's a good reason for me NOT to get involved with one or more "mia noi"!!! If caught by her I will end up very poor I think..............!

Ditto for me. But in my case, I'm warned about being 'cut for the ducks' as well!

[kandt]

ThaiFarmer,

Several options as you will discover but being married to a Thai it should be a little easier as mentioned by lopburi3; if that is an option you are considering.

In my case, I did two years ago (in Phuket) what you are planning to do in Isaan, except for the Thai wife.

The Baht 800,000 must be spent or moved from the bank account to another during the year. I.e the Immigration will not accept a bank balance where the date of the current bank balance and the date in the bank book are more than a week old, at the time of applying for the retirement visa or renewing your retirement visa. However, with two accounts you can move from one account and move the funds back when applying (or renewing). The immigration will not ask for further documentation of the transfer. Maybe your banks won’t like it but that is another story. This part is very much depending on the immigration officer, some will catch it, some will not. In Phuket they do check the dates in the bank book, at least in my case.

The combination of monthly income and bank balance is correctly understood and the Swedish Embassy should have some experience in translating the required papers into Thai.

The rich Thai wife option will most likely not work. If you want a retirement visa in Thailand you must have the money yourself.

You can surely have your own bank account but not all Thai banks will open accounts for foreigners. Siam Commercial and Asia Bank are willing but I am sure there are others but didn’t check it out.

Hope this is helpful? If you need more info send me a PM.

Cheers………kandt

[lopburi3]

the Immigration will not accept a bank balance where the date of the current bank balance and the date in the bank book are more than a week old,

Believe there is a misunderstanding here as the requirement has been that the bank letter stating the amount in your account is not more than a week old. You are not expected to open a new account or transfer 800k within the week you visit immigration; but will add AFAIK as you may have had a different experience.

[kandt]

the Immigration will not accept a bank balance where the date of the current bank balance and the date in the bank book are more than a week old,

Believe there is a misunderstanding here as the requirement has been that the bank letter stating the amount in your account is not more than a week old. You are not expected to open a new account or transfer 800k within the week you visit immigration; but will add AFAIK as you may have had a different experience.

Well, believe it or not, Immigration asked me to go back to the Bank to update the bank book and get a new letter from the bank, ensuring that both documents were within the same week!

[lopburi3]

Well, believe it or not, Immigration asked me to go back to the Bank to update the bank book and get a new letter from the bank, ensuring that both documents were within the same week!

Now understand what you are saying. Yes, when you obtain the letter of your account balance they should make a b/f entry in your passbook and you then take both to immigration within a week. You do not have to have any deposit during this period; just the b/f (current) balance and date entry in passbook. Thanks for clarification.

[ThaiFarmer]

You can surely have your own bank account but not all Thai banks will open accounts for foreigners. Siam Commercial and Asia Bank are willing but I am sure there are others but didn’t check it out.

Cheers………kandt

Thank you all for your answers to my problems. It's still far from crystal clear what I should do to do it right from the beginning, but I'm learning "as time goes by"........ mmm tra la la!! (that happens to be the title of a great song!!).

This is a great forum with members and "admins" full of valuable knowledge. Thank you so much for caring and taking your time to help others. Everything will be far more difficult without all you out there.

Thow, I must ask one more stupid question. How does the Immigration Authorities think I'm supposed to show them a bank account with 800.000 THB IF THE BANKS IN THAILAND DOES NOT ALLOW ME TO HAVE AN ACCOUNT BECAUSE I'M A FORREIGNER!!!!!!!!????????? "Kandt" answered that SOME banks MIGHT allow me to have an account. What's the problem for the banks? Don't they want my money or what! Must I go around to the different banks and BEG them to keep my money? I'm sure this problem isn't new............of course not! Many must have done this before me. But it's a strange system. To have a VISA they force me to put money in the bank but they can't force the bank to accept my money.........! Temper, temper. Yes, I know. Cool down and accept the system....! But I wonder if I can find those "nice banks" far up in the northeast. Flying to Bangkok just to do bank business is a little expensive!

[dr_Pat_Pong]

You can surely have your own bank account but not all Thai banks will open accounts for foreigners. Siam Commercial and Asia Bank are willing but I am sure there are others but didn’t check it out.

Cheers………kandt

Thank you all for your answers to my problems. It's still far from crystal clear what I should do to do it right from the beginning, but I'm learning "as time goes by"........ mmm tra la la!! (that happens to be the title of a great song!!).

This is a great forum with members and "admins" full of valuable knowledge. Thank you so much for caring and taking your time to help others. Everything will be far more difficult without all you out there.

Thow, I must ask one more stupid question. How does the Immigration Authorities think I'm supposed to show them a bank account with 800.000 THB IF THE BANKS IN THAILAND DOES NOT ALLOW ME TO HAVE AN ACCOUNT BECAUSE I'M A FORREIGNER!!!!!!!!????????? "Kandt" answered that SOME banks MIGHT allow me to have an account. What's the problem for the banks? Don't they want my money or what! Must I go around to the different banks and BEG them to keep my money? I'm sure this problem isn't new............of course not! Many must have done this before me. But it's a strange system. To have a VISA they force me to put money in the bank but they can't force the bank to accept my money.........! Temper, temper. Yes, I know. Cool down and accept the system....! But I wonder if I can find those "nice banks" far up in the northeast. Flying to Bangkok just to do bank business is a little expensive!

Regards,

ThaiFarmer

Jai yen yen. With a Non-Immigrant visa, the Siam Commercial Bank will open an account for you.

[kandt]

Thow, I must ask one more stupid question. How does the Immigration Authorities think I'm supposed to show them a bank account with 800.000 THB IF THE BANKS IN THAILAND DOES NOT ALLOW ME TO HAVE AN ACCOUNT BECAUSE I'M A FORREIGNER!!!!!!!!?????????

Temper, temper. Yes, I know. Cool down and accept the system....! But I wonder if I can find those "nice banks" far up in the northeast. Flying to Bangkok just to do bank business is a little expensive!

Regards,

ThaiFarmer

ThaiFarmer,

No question is stupid. The stupidity starts when people don’t listen and learn from the answers given by the administrators who have a lot of experience. However, I believe you are a fast learner. Thai banks according to the banking law of Thailand are not allowed to open bank accounts for foreigners with this kind of visa we are talking about. Very simple. Because the Immigration Law mentions that a foreigner needs to show the bank balance of baht 800,000 that don’t entail that the banking law will include this specific clause. Simple and logically in LOS. Now, you have up to 90 days on your “O” visa to do many things, one is to find the bank in Isaan that will open your account. Once you are there, you will quickly meet people who will help you. Alternatively you can post your question in the local forum for Isaan.

Cheers……..kandt

[phuketrichard]

Hi;

The case of opening a thai bank aco#####. Got to Bangkok bank, there is no probelm here in Phuket'

For 2 years I have placed 800,000 in my account the day before and then had the letter form the bank ststing i had the 800,000 in the bank. No problems here at all.

I do have a question for you all.

Retirement visa--800,000 in the banmk ( one person living off of that)

married to a thai--400,000 in the bank. Why less money for 2?

I am married to a thai and over 50, I have had a 1 year retirement visa for 2 years now. Do you think I will have a hard time asking for a 1 year visa because I am marreid to athai and only showing 400,000 in the bank?

Does my wife need to accompany me to immigration or do I just bring my marriage license?

Thanks

[lopburi3]

Retirement visa--800,000 in the banmk ( one person living off of that)

married to a thai--400,000 in the bank. Why less money for 2?

Apples and oranges. If you are married to a local national don't you think you would get special treatment? You do in every other country that I can think of.

If you change to "support" your wife will have to be present, with her ID/home register and sign forms and you are likely to be asked for a recent photo or two together in your home.

[et33.com]

hey man

keep two million for yourself

have a separate account for it as well

be wise will ya...

i'm not saying not to trust your wife or something

twenty two years is a long time indeed

don't need to ask for little sums of money

if and when you need it...