Can I hold my funds in a sterling account for a Retirement visa in Thailand?

Question

Hi I hope this question is appropriate for this group. We would be applying for a Retirement visa with the requirement to have 800000 bhat in the account each year and keep the account no lower than 400000 bhat. So my question is...does the money have to be held in a bhat account or can we hold it in a sterling account?

Ask Thailand · Answer

The question addresses whether funds required for a Retirement visa in Thailand must be held in a Thai baht account or if a foreign currency account (in this case, sterling) is acceptable. Responses highlight that there are no prohibitions against holding foreign currency accounts for visa purposes, and personal experiences indicate successful extensions with such accounts. However, it is best to confirm with the local immigration office for specific requirements. Additionally, advice was given regarding the importance of maintaining funds well above the equivalent of 800,000 baht to account for currency fluctuations.

Nadah ********* · Answer

Here in Chiang Mai you can do this. But it should be more than 800.000 , because the rates always change

Alan ******** · Answer

The only risk with using a sterling account, if allowed, is that if you don't keep substantially above the 800k baht equivalent, and sterling suddenly collapses (it has been known, 555) you might find yourself under the required amount.

Tod ********* · Answer

There is not one thing in the immigration rules that prohibit foreign currency accounts, and I know people who hold sterling and USD accounts here who get their extensions year after year without any issues.

BUT

As you were correctly told, CHECK with your immigration office and see what they think about it

BUT

As you were correctly told, CHECK with your immigration office and see what they think about it

James ******** · Answer

As [mention redacted] said...

Ask your local Thai immigration office for their requirements for the Non O Visa as retiree and the One year extension of stay as retired ... and if they will accept your funds placed in Sterling.

IF you both enter Thailand with a tourist visa...you will EACH need 800,000 Thai baht in a Thai bank account to obtain the Non O Visa as retiree. Total of 1.6 Million Thai baht.

IF you obtain the Non O Visa as retiree outside of Thailand you will only need 800,000 Thai baht in ONE Bank account with the spouse issued as a trailing spouse.

OR if difficult to obtain the Non O Visa where you now are ..

Enter Thailand EACH with a tourist visa...and go to a neighbor SE Asia country and obtain the Non O Visa as retiree.

Robert ******* · Answer

There is no detailed description of all the methods to do banking.

It must be in an account where the money is accessible to withdraw in case of emergency. Talk to your local Immigration Office if they have any problem with an account in sterling.

James ******** · Answer

Background...

Hi we are Brits living in Bulgaria. BG will only issue us a tourist visa. So without having to go to a neighbouring country to get the non-immigrant O visa, can we swap a tourist visa for a non-immigrant O visa once we are in Thailand? We would then apply for the retirement visa once we are in country. Thanks for any info....

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Can I hold my funds in a sterling account for a Retirement visa in Thailand?

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