Extention of Stay based on Retirement query

[tv123]

I am 55 years old, have entered on a Tourist Visa and I would like to apply for an Extension of Stay based on Retirement.  My query is does my 800,000 have to come from Overseas.  My husband is here on a work permit but this is finishing soon. Would Immigration accept the transfer of the 800,000 from his account.

 

Thanks for your help, I have read the Immigration Steps fully and cannot clarify this question.

[ubonjoe]

Does your husband also plan on retiring?

Immigration would accept proof the 800k baht was earned here while he was working instead of from abroad.

You could be here on an extension as his dependent instead of being on a tourist visa.

[tv123]

Yes Ubonjoe, my husband does plan on retiring as well.  I am here on a tourist visa as  the thai company that he works for changed their company name and so whilst they were sorting that out we were not covered under his work permit.  If Immigration would accept proof of the 800k baht would we need to get this verified at our Embassy.

 

[ubonjoe]

34 minutes ago, tv123 said:

Yes Ubonjoe, my husband does plan on retiring as well.  I am here on a tourist visa as  the thai company that he works for changed their company name and so whilst they were sorting that out we were not covered under his work permit.  If Immigration would accept proof of the 800k baht would we need to get this verified at our Embassy.

Proof of the 800k baht in the bank would be a letter from the bank confirming the account and balance and copies of the bank book showing the 800k baht.

If your husband is on an extension based upon working he can change the reason for it to retirement without needing  to get a new visa.

If you are going to apply as his dependent after he gets his extension you would not be able to change to a non immigrant visa entry at immigration, They do not do the for dependents of a person on a retirement extension.

[tv123]

Thanks for your help Joe

[NancyL]

1.)   tv123 -- what province do you live?

 

---and---

 

2.)  as Ubonjoe knows, I'm not a fan of the idea of a wife being carried as a dependent on her husband's retirement visa, unless finances are a problem.  The dependent's legal reason for remaining in Thailand ends the day the marriage ends and I've know too many new widows who discovered they were on overstay the moment their husband died.  They went to the local Imm. to sort out matters and had to pay 500 baht/day for their overstay and given a seven day extension to get out of the country, presumably to go apply for a tourist visa in a neighboring country.

 

Most widows have much to do right after the passing of a husband and the last thing they should have to handle is travel and applying for a new visa.  Plus, they'll discovered that in Thailand, their joint bank accounts are frozen, as is anything in his name, and even if there is a Final Will, the quickest I've seen an heir get their hands on frozen money in a Thai bank is 30 days after death.

 

So, tv123, if you and your husband can afford to tie up the funds, it would be good for each of you to have your own retirement visa and extensions.   One technique, if you can manage, would be for you to stagger the expiration dates of your permission to stay and you could share the same 800,000 pot.  It could be in one persons name for six months of the year and in the other's for six months.  There is some risk with this, if the person holding the funds dies close to the time it needs to be transferred, but it could be a work-around if funds are limited.

 

 

[pontious]

Why would a joint Thai bank account be frozen - surely either signature can withdraw money? Is it different for a Thai wife?

[ubonjoe]

9 hours ago, pontious said:

Why would a joint Thai bank account be frozen - surely either signature can withdraw money? Is it different for a Thai wife?

Immigration will not accept a joint bank account. Some will accept a joint account if at least 1.6 million baht is in it.

There are ways to work around getting the funds out of the bank. For example online banking and/or a ATM card.

 

[NancyL]

11 hours ago, pontious said:

Why would a joint Thai bank account be frozen - surely either signature can withdraw money? Is it different for a Thai wife?

This point has been covered in numerous threads elsewhere on Thai visa about Final Wills and what happens when someone dies in Thailand.  Technically joint accounts are suppose to be frozen when one account holder dies, until the estate is settled.  The surviving account holder does not have the right to access the account and if they do, they are violating the law.  In truth, joint bank accounts are sometimes accessed after death, perhaps with an ATM card, but this action isn't legal and can't be counted on as a way for a survivor to gain access to the funds in an account after the death of an account holder.

 

The reason for this is that if someone dies without a Final Will, in Thailand a person's children inherit at the same level as their spouse.  So, if a person has a joint bank account and no Final Will, then that person's portion of the bank account will be split equally between their spouse and children, and this includes their adult children overseas.

[hgma]

17 hours ago, NancyL said:

1.)   tv123 -- what province do you live?

 

---and---

 

2.)  as Ubonjoe knows, I'm not a fan of the idea of a wife being carried as a dependent on her husband's retirement visa, unless finances are a problem.  The dependent's legal reason for remaining in Thailand ends the day the marriage ends and I've know too many new widows who discovered they were on overstay the moment their husband died.  They went to the local Imm. to sort out matters and had to pay 500 baht/day for their overstay and given a seven day extension to get out of the country, presumably to go apply for a tourist visa in a neighboring country.

 

Most widows have much to do right after the passing of a husband and the last thing they should have to handle is travel and applying for a new visa.  Plus, they'll discovered that in Thailand, their joint bank accounts are frozen, as is anything in his name, and even if there is a Final Will, the quickest I've seen an heir get their hands on frozen money in a Thai bank is 30 days after death.

 

So, tv123, if you and your husband can afford to tie up the funds, it would be good for each of you to have your own retirement visa and extensions.   One technique, if you can manage, would be for you to stagger the expiration dates of your permission to stay and you could share the same 800,000 pot.  It could be in one persons name for six months of the year and in the other's for six months.  There is some risk with this, if the person holding the funds dies close to the time it needs to be transferred, but it could be a work-around if funds are limited.

 

 

Please do not misinterpret but most spouses are not 50 years young yet. further more unless there is sufficient money @hand why should one freeze 800K and not enjoy the fruits of Babylon by spending it?

[NancyL]

2 hours ago, hgma said:

Please do not misinterpret but most spouses are not 50 years young yet. further more unless there is sufficient money @hand why should one freeze 800K and not enjoy the fruits of Babylon by spending it?

The OP stated she was 55 years old.  And yes, obviously if a spouse is under age 50, then it very much makes sense for her to be a dependent on her husband's retirement extension.  However, every spouse I know who has had problems with her husband dying and then she finds herself scrambling about her visa was well over age 50.  In fact, in several cases, hubby had been ill for a time and my advice about moving his 800,000 baht account into an account in her name vs. his while he was still alive and capable of closing down his account was ignored as in "I can't bring up something like that, because he's always taken care of the money."

[tv123]

Thanks for your info NancyL.  Since we are talking about accounts, is a Fixed Deposit Account accepted at Chang Wattana

for the 800k baht.

[ubonjoe]

10 minutes ago, tv123 said:

Since we are talking about accounts, is a Fixed Deposit Account accepted at Chang Wattana

for the 800k baht.

They will accept one that allows the funds to be withdrawn without delay or penalty other than loss of interest.

[steve187]

On 3/9/2017 at 1:12 PM, ubonjoe said:

Does your husband also plan on retiring?

Immigration would accept proof the 800k baht was earned here while he was working instead of from abroad.

You could be here on an extension as his dependent instead of being on a tourist visa.

would they also accept money from sale of land,

[ubonjoe]

12 minutes ago, steve187 said:

would they also accept money from sale of land,

If you could prove that money had been legally earned here it would be accepted. The reason they want the proof is due to there not being any seasoning required to apply for the non immigrant visa. They don't want people borrowing the money for one day to apply for it.

[steve187]

thank you