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You mean if I deposit $22,222.00 (800.000 baht) into a Thai bank after age 50 I get a permanent visa; I can go in and out anytime I want?

NO. There is no such thing as a "permanent visa"

When you are 50 you have a choice

1 Obtain an O/A visa in your own country. This is a multiple entry visa which is valid for a year.

2. Obtain a single entry "O" visa which can then be used to apply for a one year (renewable) " extension of stay based on retirement" (it is not a visa)

The financial requirements are the same as previously indicated but in the case of the O/A visa can be in a bank in your own country.

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