Can I switch from an O retirement Visa based on bank savings to one based on monthly income deposits in Thailand?

O retirement Visa Visa requirements Bank balance requirement Monthly income method Thailand immigration Expat visa rules

Aug 6, 2021

3 years ago

Donald **********

ORIGINAL POSTER

I'm currently on a O retirement Visa showing the 800,000 bhat in bank to obtain.  Im now depositing 70,000 monthly. When my 12 months are up am I correct I can just take my bank book deposits in a printout from my bank to immigration and continue on with O based on monthly deposits that are in excess of the 65,000 bhat requirement?

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TLDR : Answer Summary

The transition from an O retirement Visa based on a bank balance (800,000 baht) to one based on monthly income (minimum 65,000 baht) involves meeting specific criteria for both. You must maintain the 800K balance for three months after your current extension is granted and not let it drop below 400K baht for the rest of the year. For the next extension, you will need to have deposited 65K baht monthly into your Thai bank account for the previous 12 months.

NON-O RETIREMENT VISA RESOURCES / SERVICES

Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
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Bryn ********

Just for simplicity sake, can I deposit the 800,000, then each month for the next 12 months add 65,000, then after that 12 months, remove the 800,000?

3 years ago

Bryn ********

David Broadfoot So, basically you’d need the 800,000 in the bank and then the 65,000 you could use as living expenses, right?

3 years ago

Bryn ********

David Broadfoot Thanks. Long ago I learned to add a minimum 10% to any banking requirements.

3 years ago

Tod *********

@Bryn *******

you can't just 'add 65K baht a month' the transfers have to show they originated abroad domestic transfers don't work.

3 years ago

Bryn ********

@Tod ********

Yes, they would be from abroad. Thanks.

3 years ago

Reply to

Bryn ********

Tod *********

If you are now on a yearly extension based on banked money method (the 800K) and want to switch to monthly income method for your next yearly extension you need to meet the requirements of BOTH

For this year you need to keep the 800K baht in the bank account for 3 months after you had this current extension granted and then you can't let the balance go below 400K baht the rest of the year

AND

To use monthly income method next year when you apply for a new extension you need to transfer in to the thai bank account in your name only a minimum of 65K baht a month each month every month for the preceding 12 months before you apply for the extension.

Switching from banked to monthly income method is the hardest switch to do because of the need to meet BOTH requirements (current extension and next one)

3 years ago

Bobby ********

David Broadfoot. You have to completely separate the two extensions and ensure you meet (or have met) the requirements for both, but if you are switching to monthly from annual, you need keep only 400k in the bank up until your application date, provided you have the full 12 months of monthly deposits for the new application. So, in theory you have met the two months before/three months after 800k, and 400k for the rest of the year requirement for extension 1, and you will meet the 12x65k requirements for extension 2. As soon as the year is up from extension 1, you can withdraw the 400k and go out and get smashed (except there's no bars open).

3 years ago

Wayne *******

@Tod ********

@Bobby *******

.... hi guys. I would never ever question your knowledge.... you guys are experts. And

@Benjamin *****

as well.

The "combined" method still exists ? I had a little trouble last April. This post pricked my ears up.

3 years ago

Tod *********

Wayne it does exist but it seems to be more and more of a hard sell to push thru at some offices.

They just want you on either all banked money OR all monthly income. In fact some offices come right out and say Nope, can't do it with the combo method.

SO if you're going to use the combo-method you need to check LONG before you're going to need your extension and see if your office will let it thru..

3 years ago

Reply to

Tod *********

Donald **********

ORIGINAL POSTER

@Tod ********

thank you

3 years ago

Bobby ********

Donald Crawford. Keep in mind also that is 12 calendar months requirement, not 12x for the year. So if you make two 65k deposits in January, and then skip February, you'll be deemed as not meeting the monthly criteria. It's anal, but it's what it is

3 years ago

Reply to

Bobby ********

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Can I combine funds and monthly deposits to meet the financial requirement for a Non-O visa in Thailand?

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