800,000 Baht (1-year) Term Deposit To Meet Requirement

[lopburi3]

I don't know what you have paid for but the cost of a one year extension of stay from Immigration is 1,900 baht total and is so indicated on the TM.7 form you fill out.

As for not having to go back every 3 months that has never been required. You have to report your address every 3 months but that can be you, a friend, or done by mail. Are you saying you do not have to report your address every 90 days under some new system?

Another expense for people who plan to travel would be a re-entry permit at either 1,000 baht for single or 3,800 baht for full year multi entry.

So from what you say you received the 1,900 baht and 3,800 baht items and paid 8,800 baht?

The form has been filled by the immigration officer for me.. I never seen the "price" indicated on it ! I just had to sign it !... I suppose this "service" costs 3100 bahts more.. What can I do now ??

Last year I had to report every 3 month (in person) to the immigration office : every time they staple a form in my passeport with the date of the next report ! This year they just told me "see you next year" !

It's Samui.. may be a little different !

The 90 day address report requirement is still valid. I assume you were at immigration to obtain an extension of stay and that is what "see you next year" is all about. If you do not do the address report you are setting yourself up for a fine if it is questioned.

I would make sure to fill out your own TM.7 form - it can be obtained at the office or downloaded and printed back to back on A4 paper.

[lopburi3]

As Thai Immigration requires 800,000 baht in an account for 3 months prior to Visa extension and you cannot let it go lower during that period (IF you using the 800,000 baht in bank method of proof of savings) then there is NO REASON why Thai Immigration should refuse term deposits AFTER ALL you cannot use the money (they insist on that fact).

1. You can have more than 800k in the account 3 months before application and make withdrawals during the 3 months until application but never let the balance go below 800k; or

2. You can withdraw enough cash before the 3 months before application to keep you going until the application date, making sure that the balance remains minimum 800k, then leave the balance untouched until application.

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Maestro

To be honest, this new "extension" of the rule is a load of crap.

It means you now need 950k in a thai bank and this 3 months BEFORE the date you request your retirement extension in order to have sufficient funds to live "decently" for the 3 months prior to your request.

Requirements to stay in LOS are changing all the time, its a moving target (in the wrong direction). These will put off many people in the end, and I guess that is the REAL objective of the authorites in this country.

Your funds come from somewhere? You only need 800k in that bank account and you can pull your living expense as you need it from wherever you get your money - it does not have to be in your bank account.

[bluedragon]

Another thread is suggesting that ordinary term deposits can't be used to meet the 800K retirement requirement. This doesn't quite make sense, given the other new requirement to keep the cash on deposit at least 3 months. After all, term accounts generally can be closed early in case of emergency (forfeiting interest, of course), and if 3 months is good in the bank is good, isn't 12 months better?

Can anybody confirm that Suan Phlu is indeed disallowing term deposits? And if so, can anybody suggest who the appropriate party to write in order to try to change this rule is?

Reading these posts and other similar threads about the Bt800,000, it does seem that those experiencing problems are the individuals who are trying to find ways - albeit thought to be legal - around the normal rules and regulations. That is, they want to bring in their funds of Bt800,000 and then deposit them without spending any of them.

I am curious - does this mean that these individuals expect to place their funds in deposit without any withdrawals ? And how then would they meet their day to day expenses for the rest of the 12 months they are staying in Thailand. Presumably by separate remittances as and when needed ? And does that mean that the initial deposit stays untouched for the duration of their stay ie however many years they remain in Thailand - D or A ?e

A further observation and supplementary question - I help answer a number of incoming Retirees' questions from different countries around the world with whatever queries they may have - the most frequent and repetitive problem is this one of the Bt800,000 deposit. And it is the Americans in this group who seem to have the most problems - and they are the ones who seem to want to use interesting and innovative ways of circumventing the normal rules and regulations. Brits, Ozzies, Kiwis, Springboks and Europeans all seem to follow the rules and avoid any difficulties.

I wonder - is this a cultural thing ? Or is the US Embassy or Consulates not giving the right advice and help to US citizens ? I have personal experience of the US Embassy in Bangkok giving the wrong advice about a US Visa. Reluctantly, they gave me a written explantion of what they had done to show the INS officials. They told me, "If we're wrong, you can always come back and complain when you return". Well, they were wrong - there was a problem - and the written explanantion did help to appease the INS officials. And I did complain (politely) when I came back to Thailand - but - you guessed right - no apology was forthcoming.

So, my suggestion is that if you follow the rules & regs to the letter, there should be no problem.

rcavr8r,,

As an american following the rules is no problem, however when the rules change based upon who is supposed to implement them or when you cannot get a standard answer to a fairly standard question, then I start questioning the rules. And I think most of can agree that the rules overall in Thailand are somewhat ambiguous.

Also, as Lopburi pointed out, I as an american don't desire to let my money sit in an account where I can't make any money, in thailand.

Regards. BD

[harpman88]

The question was about having 800k in a Thai account using that method rather than pension income.

FYI: Bangkok is currently asking to see supporting paperwork for pension income in addition to letter from Embassy so that will probably be your case next time. So be sure to take with you when you visit immigration.

Lop,Is this true if you have the pension/income plus have a substantial amount in the Thai bank acct.?(about 300K baht in my case) If so,what is thai Imm, accepting as documentation? Im going

for my 1st OA extension here in C.Mai in late January(U.S.citizen). Pro Thai seems to think I can also include my fixed income investments held thruout the previous year to supplement the pension.(I still will have the 300K baht in the bank also using that in combo with the pension/income..as always,Thanx much in advance,the Harpman

[lopburi3]

If your question is supporting documents Sunbelt has reported that Bangkok has been requesting to see them for the last month or two for the amount you declare on your Embassy paper. I do not believe there is any fixed format or documents required so if you have investment income that you regularly receive I would include on Embassy total and have tax receipt/fund transfer payments or such to support when you visit immigration. For all we know now Chiang Mai may not even ask to see anything - but I would take anything you can just in case.

[harpman88]

If your question is supporting documents Sunbelt has reported that Bangkok has been requesting to see them for the last month or two for the amount you declare on your Embassy paper. I do not believe there is any fixed format or documents required so if you have investment income that you regularly receive I would include on Embassy total and have tax receipt/fund transfer payments or such to support when you visit immigration. For all we know now Chiang Mai may not even ask to see anything - but I would take anything you can just in case.

That indeed was the question ,Lop. My year end statements from Vanguard and Schwab,should do the trick,as my pension alone has slipped below 65K/year due to the recent weakness of the dollar. Along with the 300K baht here in SCB, I cant forsee any problems,thanx much again,Harp.

[Robby nz]

I posted this on a new thread but will now put it here also as I want to know where the 800K 3 months prior to application for extention comes from as it is not part of the information I have been given.

I have just done my 90 day report and was given a paper with the new requirements and it makes no mention of having to have 800K in the bank 3 months prior to application for extention. I will quote the relevant parts of the paper.

Qualifications for applicant

3. Proof of statement in one of the following:

3.1. Having a bank account of not less than 800K baht or

3.2. Having a definite income from pention or social welfare not less than 65K Baht per month or

3.3. Having both a bank account and annual income from pention or social welfare not less than 800K Baht.

Required documents

5. Proof of finantial statement or pention

5.1. Certificate letter from a bank and copy of bank account (savings or fixed deposit) certifying the last 3 months record or:

5.2. Certificate letter from the consulate or embassy of the applicant country certifying the amount of pention or social welfare.

6. Documents of money transfer or a bank deposit account in reasonable and frequant amount i.e certificate letter from a bank of overseas money transfer or a copy of bank notification of money transfer.

That is the info I have been given by immigration in Hua hin, I still have one 90 day report before I have to apply for an extention so I have plenty of time to sort this out, however it would be very difficult for me to bring 800K here 3 months early as my investments overseas are structured to have the 800K availiable on the date I needed it according to the rules when I came here.

But as you can see it only mentions reasonable and frequant amount in this letter. Reasonable and frequant amount it seems to me leaves it open to interpretation by different offices.

Also says the 800K can be on fixed deposit or I assume a combination of both savings and fixed deposit.

[lopburi3]

And I will give you the same answer here as to your other post:

5.1.Certificate letter from a bank and copy of bank account (savings or fixed deposit) certifying the last 3 months record