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Can I switch my Thai retirement visa financial requirements from 800K to 65K monthly deposits without facing immigration issues?

Thai Retirement Visa 80K Baht Rule 65K Monthly Income Visa Extension Requirements Bank Statements Immigration Office Funds Seasoning Requirements

Mar 17, 2023

2 years ago

ORIGINAL POSTER

800K to 65K

At my next O extension I want to change my current method of having 800K in the bank to 65K a month. By that time I will have had 12+ foreign deposits of more than 65K. 

Would that cause any immigration issues and would they check that I have the 800K even though I have and had the required deposits?

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TLDR : Answer Summary

The discussion revolves around switching from the 800,000 Baht requirement for a Thai retirement visa to a monthly income method of 65,000 Baht. It's highlighted that while it's possible to make this switch, the transition may face scrutiny due to specific 'seasoning' requirements for funds. Users emphasize the importance of maintaining proof of both the 800K and 65K monthly deposits for the necessary duration, and it's highly recommended that the original poster consult with their local immigration office for guidance on the specific processes and requirements.

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Ellie *******

funds seasoning requirements are DIFFERENT between extensions based on marriage to a Thai and on retirement.

Changing financial methods for a marriage reason is much simpler than Retirement extension.

Please do not mix them.

Sorry, removed those posts about changing methods for Thai spouse extensions. They are not relevant to OP’s case.

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Richard ********

I did that a few years back with no problem. Just make sure the end balence is the same as shown on the bank letter. The first time I made the mistake of using my ATM card during the 7 days my bank required to provide 12 months of statements.

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Tod *********

@Richard *******

there is no requirement that the bank letter, the year transaction history print out and the bank book have the same balance 😕

Dunno who told you that one, but it's definitely NOT a rule.

Many people get the bank letter/transaction history then have to do a real transaction to update their bank book making the balance not match the documentation

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Richard ********

I don't remember since I go through the 65k pretty quick! It certainly wasn't 400 or 800K

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Richard ********

But, as someone has said here already, check with your local immigration office as each is a law unto themselves sometimes. Also, I did this 3 or 4 years ago and things have a habit of changing

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James ********

@Richard *******

your advice is Spot On 👍. As seen here there are a variety of experiences. The OP has to visit his Local Thai Immigration office and ASK THEM.

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James ********

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Glenn *****

ORIGINAL POSTER

@Richard *******

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Ellie *******

, be aware, there used to NOT be funds seasoning requirement for banked money method for retirement extension. Not sure when

@Richard *******

changed the method, he could have changed before that.

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Ellie *******

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Glenn *****

ORIGINAL POSTER

@Richard *******

just to be clear, you had 800k in the bank and changed to monthly deposits? If so, when did you withdraw the 800k/400k?

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Richard ********

I spent it down during the year before my renewal starting 3 or 4 months after the previous renewal

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Glenn *****

ORIGINAL POSTER

@Richard *******

thanks so at the time of your new renewal based on deposits you had little money in the bank?

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Glenn *****

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Tod *********

the switch from an extension of stay based on banked money to an extension of stay based on monthly income via international transfers is the toughest switch to do 😮

That's because you have to MEET the banked money method seasoning requirements for the whole year (keep the 800K baht in the account for 3 months after your extension was granted, then not let the balance go below 400K baht for the rest of the year)

AND

you have to transfer in 65K baht a month into your thai bank account each month every month for the previous 12 months as well

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Richard ********

I didn't have to do that (Phuket) but things may have changed.

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Tod *********

@Richard *******

when the embassies stopped issuing the income affidavits for monthly income method and they changed the banked money seasoning on the 800K baht they implemented those rules,

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Tod *********

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James ********

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Roberto *********

Advisable to look on each extension as a completely separate entity, and each one must satisfy the requirements of that particular extension.

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James ********

I urge you to ASK your question at your local Thai Immigration office that issues your retirement one year extension of stay.

You will need to show PROOF of your having 65,000 Thai baht or more internationally transferred to your Thai bank account in your name only. AND show PROOF of your keeping the required funds in the bank account as required for the prior 12 months.

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Roberto *********

So the only way you can do it is to keep the 800k in the bank for the whole year, whilst at the same time importing 65k per month.

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Glenn *****

ORIGINAL POSTER

What is not clear to me is how can anyone use the deposit method to begin with. 800K is needed for the O in the beginning and there would not be time to get the 12 deposits.

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Roberto *********

You can do it with an OA because you don't need 800k and you effectively get two years off the OA, which gives you ample time to open a bank account and get the 65k regime going

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Glenn *****

ORIGINAL POSTER

@Roberto ********

except I am already here with an O

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Tod *********

which means you CAN do it on year two if you meet the seasoning requirements for year ONE and year TWO at the same time 😮

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Tod *********

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John **********

it's not possible. It's simply not allowed. Even if you have 12 months of deposits you can't use that to apply for a Non-O inside Thailand

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Tod *********

no one can 😕 no immigration office will let people from a country whose embassy doesn't issue the income affidavit apply for either the 90 day Non-O visa or the first yearly extension using monthly income method by international transfer. It is not done.

You BANK the money for the 90 day Non-O and the first year extension THEN you can start your monthly transfers to switch methods the following year extension (year 2)

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Glenn *****

ORIGINAL POSTER

which is what I was trying to accomplish on year 2

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Glenn *****

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James ********

bottom line .. you cannot.

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James ********

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Glenn *****

ORIGINAL POSTER

will do. If needed, maybe I could just start all over again with a new O

And I will have the required proof

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James ********

Maintain 800,000 Thai baht for First 3 MONTHS of the new one year extension of stay as retired, then no less than 400,000 Thai baht for following 7 MONTHS AND 800,000 Thai baht in the final 2 MONTHS of your extension of stay as retired.

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Ellie *******

, not quite true if he is going to use monthly income method for next extension application. no need to back to 800k for the last two months. He needs to maintain 400K+ until he get new extension. 800k for 2months is for next extension application.

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James ********

thanks Ellie 👌

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James ********

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James ********

if you have not met the requirements for the prior 12 months you could be in violation of your extension agreement and on OVERSTAY

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James ********

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