Is it possible for someone to qualify for a retirement visa based on a monthly pension income of 790400 THB in lieu of an 800000 THB deposit to a Thai bank account?
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TLDR : Answer Summary
To qualify for a Thai retirement visa, one must typically show proof of an 800,000 THB deposit in a Thai bank account. However, if you have a monthly pension income of 790,400 THB, there are discussions about possibly qualifying based on income. The key points include that certain embassies may not certify income, which could limit your options to the required bank deposit. Additionally, some users suggest that maintaining a pension of around 68,000 THB monthly would be safer to account for fluctuating exchange rates. Ultimately, an initial deposit of 800,000 THB is necessary for the first year, followed by proof of consistent monthly income for future extensions.
NON-O RETIREMENT VISA RESOURCES / SERVICES
Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
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“Is it possible for someone to qualify for a retirement visa based on a monthly pension income of
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0 THB”
*** you got a monthly income/pension of 790,400.- THB which equals 26,201 U.S. Dollar ??
WOW!
Well that’s more than enuff to do the financial proof by the income method.
However it depends if the embassy of your passport country will issue an “affidavit of income” for the Thai Immigration. Some embassies have discontinued issuing such.
Which would leave you to no other alternative than having to prove a deposit of a minimum of 800,000.- THB in a Thai bank account in your sole name, for the first year of a “1-year Extension of Stay Permit based on Retirement”
Jan ******************
You’ll need minimum 800K baht for the initial Non O visa and your first year extension of stay. For your future extensions you can qualify by showing proof of twelve months consecutive transfers of min 65K baht a month.
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0 baht divided by twelve gives you 65 866 baht a month which is sufficient.
based on a U.S. Dollar pension, 65.866.- THB is NOT sufficient, because you run into the risk of going UNDER it, by simple exchange rate fluctuations. The income should include a minimum of 5-10% buffer, so only something starting at 68,000 THB would deem safe
Ok, he might need to recirculate some baht each month then.😉
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Jan ******************
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Will ************
Only if your Embassy certifies income. The US Embassy does not. Best solution is to apply for the initial Non-o in the US , upon arriving in Thailand immediately open a bank account and deposit a minimum of 800k baht ,after its been in there for 2 months apply for your 1 year extension. At the same time deposit a further 65k every month for a minimum of 12 consecutive months prior to applying for your second extension and keep that up forever. Whilst this is in progress your bank account must not drop below 800k for a minimum of 3 months when your first extension is granted and cannot drop below 400k until you apply for your second extension.