800k requirement when Retirement holding 800k THB in foreign currency exchange calculation date

[leddie]

A bit of a tricky one here.  If the 800k THB equivalent is held in a Thai bank in foreign currency over 60 days, do they only use the exchange rate on the day of the 1 year extension to calculate the THB equivalent.

Or, do they check that the THB equivalent is above 800K for every one of the 60 days seasoning period or do they use an average.

For example on Day 1 of seasoning, THB equivalent of Euro deposit is 810k THB, but during the 60 day seasoning period the THB goes up and down.  On day 20 it drops below 800k equivalent but is topped up and then by day 60 the balance is back over 800K.

 

In other words, do they look at the balance every single day?

[ubonjoe]

The bank will write the letter required by immigration showing the equivalent in baht using  the exchange rate for the day they do the letter. Immigration will not recalculate it on the date your apply.

[leddie]

Thanks Joe, so this means that they do not look back at the entire 60 day seasoning period, only the last day?  My confusion is that if the equivalent goes below 800k, even for a few minutes, then technically, the money has not met the full 60 day seasoning requirement?

[ubonjoe]

7 minutes ago, leddie said:

Thanks Joe, so this means that they do not look back at the entire 60 day seasoning period, only the last day?  My confusion is that if the equivalent goes below 800k, even for a few minutes, then technically, the money has not met the full 60 day seasoning requirement?

Immigration does not take exchange rates into consideration during the 60 days. The the amount in Euro's being the same for 60 days is what they want to see or that it did not go below the amount the letter was based upon.