Can I use a foreign currency deposit for the 800,000 Thai baht requirement for a retirement visa in Thailand?

Jun 11, 2021
3 years ago
Bee *****
ORIGINAL POSTER
Hi... Does anyone know if the 800,000 Thai baht deposit in Thai bank for retirement visa purpose can be in foreign currency deposit as in USD or Aussie dollars etc..... Thanks
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TLDR : Answer Summary
Yes, you can use a foreign currency deposit for the 800,000 Thai baht requirement for a retirement visa as long as it is kept in a bank in Thailand. However, it's important to consider the fluctuations in exchange rates that could affect the value of your foreign currency relative to Thai baht. Some users also mentioned that it might be preferable to hold the amount in a Thai baht account for stability. If applying from your home country, you can hold the equivalent funds in your home bank account, provided you demonstrate the required balance prior to applying.
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Joe ***********
if i buy a condo in Pattaya for 800,000B does that work for a retirement visa
Marc ********
Joe ***********
If applying for an O-A type retirement visa in the home country (long stay - "retirement"... the deposit can be in your home country bank account (in your name only) in sufficient currency "equivalent" to 800,000 Baht - deposited 3 months prior to application at the Thai Embassy /Consulate... (example USD = to about 25,526 USD give or take an accurate exchange rate reading at time of deposit. Best to add a bit more USD.

Another aspect to getting the O-A in the Home Country is that once the O-A Visa sticker is placed in your Passport - you can withdraw the 800,000 Equivalent and put it somewhere else or pay back the loan from whence the funds came. After award of the O-A Visa Sticker in the Passport no check on the funds by any authority is ever done again.
Bee *****
ORIGINAL POSTER
@Joe **********
Thank you for the information.
Sam *******
foreign currency account ok 100%
Frédéric ******************
How easy is it to open a foreign currency account in Thailand?
Bee *****
ORIGINAL POSTER
@Frédéric ****************
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Frédéric ******************
@Bee ****
thanks
Bee *****
ORIGINAL POSTER
Tom *******
News to me. I was always told it had to be in THB and that they were very particular about following that rule.
Tod *********
@Tom ******
you were told wrong
Bee *****
ORIGINAL POSTER
Thank you everyone!!!..... Was going to ask at chaengwattana.... But will do that when it's safer.... Was asking for elderly friend in US..... And thanks for those points .... Didn't even realize that.....
Jeff **********
@Bee ****
.....
Garrett ***********
@Bee ****
Safe?
Bee *****
ORIGINAL POSTER
@Garrett **********
oh..Covid situation
Kool *******
Do not forget that by using a FDC account, I have one at Bangkok Bank, you are at the whim of currency fluxuations, so that foreign currency is not always equivalent to bt800,000, or more. The exchange rate can change making your FCD money worth less than the bt800,000. It is best to use a Thai baht account for that, then the actual amount never changes.
Andrew *******
Can be in foreign currency deposit provided it’s in a bank in Thailand Must also have the full balance in the account for the minimum required period.
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