Retirement Visa

[MJPhuket]

My question relates specifically to visas for retired persons.

The most important requirement for the annual extension is, of course, financial. Proof of pension income and a cash deposit in a bank are required, backed up by a letter from the bank certifying that the amount of the deposit is correct.

Can anyone tell me absolutely and positively if the cash deposit HAS to be in a THAI bank, or can it be in a bank of the applicant's home country, or indeed, in any country of the applicant's choosing?

In any case, the letter of verification from that bank would still be a requirement.

MJPhuket

[lopburi3]

If you are talking about an extension of stay from immigration inside Thailand for long stay (retirement) (one-year extension) it must be in a bank account located in Thailand.

If you are talking about a "visa" issued for retirement under the name of non immigrant O-A, issued in your home country and which permits a one year stay upon entry the requirement would be money in your home country bank.

[Dave the Dude]

If you are talking about an extension of stay from immigration inside Thailand for long stay (retirement) (one-year extension) it must be in a bank account located in Thailand.

If you are talking about a "visa" issued for retirement under the name of non immigrant O-A, issued in your home country and which permits a one year stay upon entry the requirement would be money in your home country bank.

Hi Lopburi3

Your clear and concise answers are a credit to you and I'm sure you have helped many of us wading thru the Thai 'red tape'.Anyway, that's enough thanks . Whilst i understand the above situation, I am unsure of another aspect of this thread.

Proof of pension income AND a cash deposit in a bank are required

Is this statement right,The Hull consulate forms suggest one needs either 800k in bank for 3m prior OR proof of pension income. Other threads have talked about Immigration accepting a mix of both, if like me, my pension will be under the monthly threshold.

My stupid but logical mind says that if say, I have an annual pension of 600k baht, I need another bank balance of 200k+ to show the guys at immigration. 200k + 600k = 800k baht requirement for funds in bank. Is this correct or am I reading the wrong threads from happy,drunken ill-informed expats.

This is the most important challange left, prior to planning my permanent departure to my home in Issaan and from cold 'ol England

HAPPY NEW YEAR

[lopburi3]

They may figure it that way - you could also make a case for 600k divided by 12 months = 50k per month so that would be 12 x 15k = 180k required in bank account. Always plan on the higher amount and allow for the exchange rate that will most likely be lower than current market.

[DFCarlson]

... and allow for the exchange rate that will most likely be lower than current market.

That's a question that I've wondered about also.

What exchange rate does the immigration department use to calculate the conversion rate to Thai baht from foreign currencies?

What source does immigration use to set the rate?

How often is it updated?

Is there a standard reduction from the current rate? With the recent wide swings in the exchange rate it would seem that it would be difficult to keep abreast of the changes!

I would guess that having considerably more funds than required available in a bank account if your pension does not meet the 65,000 baht/month requirement is best, but what if your margin is slimmer?