Answered3 years ago
Can I use either 800,000 baht in savings or a monthly income of 65,000 baht for a retirement visa in Thailand?
Can someone that actually knows the current situation verify you can use EITHER the 800k OR the 65,000 baht annual income for retirement visa? Thanks.
Answer summary
Yes, for obtaining a retirement visa in Thailand, you can either have 800,000 baht deposited in a Thai bank account or show a monthly income of 65,000 baht. However, there are specific conditions based on the stage of your application. Initially, for the first year, the 800,000 baht in savings is required. After the first year, you may switch to the 65,000 baht monthly income option, but you must follow additional guidelines such as maintaining the deposit for a specific time before and after application.
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Ken ******
will there be impact by new tax law just started this year? for the
*****
income method******************************************************
John ******
the new taxlaw is not activated but does not matter. If you send 65.000 that is ok, conform the requirements. If you later have to pay tax that does not matter you could spend it on ladies too.
Steve **********
Ken ******
will there be new tax law impact if the
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is not pension that maybe exempted from tax?Steve **********
@Ken *****
new tax law will be for funds generated in Thailand, not from abroad .It's not law, or even proposed,
its rumor.
Everyone is panicking over rumor.
TIT.
Richard *********
it would appear that for the first year of application for retirement visa its 800,000 deposit after that 2nd year you can change to monthly deposit ,,, TRY TNT visa folks they did me good ... they have an office in Rawai and another in Patong .
Phil ***********
I can confirm you can use either 400k or 40k a month on the same transfer date (that's where I tripped up, many different dates) to get a non o marriage, so it maybe similar for retirement too.
Stuart *********
Be aware that if using the banked money option of 800k then you need to ensure that it is in your account for two months prior to applying for a year extension off a Non O visa and remain in for 3 months after. The balance must remain above 400k for the rest of the year and then back up to 800k two months prior to your next application.
Nick **********
must be in place for the 1st 15 months. That is what I was told at Phuket immigration, as I am starting the process now
Nick **********
1st year, including the 3 month NON-O must have the
*****
0 banked. After the 15 months, can go to the *****
banked each month, however, the 65,000
Todd *********
@Nick *********
only for passport holders of nations that don't offer letter of affadavitTodd *********
yes - you can use either
Grant *******
@Todd ********
only if your embassy still issues a verification letter, other wise only 800k method the first yearBrandon ************
It's way more complicated than that.
If your embassy provides verification of income then you must use that for the 65,000 baht per month.
If your embassy does not provide verification of income, you cannot use the income method for your initial 90 day non-O visa or for the first 1-year extension. During this first year that you obtained with 800,000 baht in the bank, you can make a transfer from overseas into your Thai bank account for 65,000 baht or more, every month for 12 months before you apply for your 2nd one-year extension. And then you can use proof of those transfers for the income
If your embassy provides verification of income then you must use that for the 65,000 baht per month.
If your embassy does not provide verification of income, you cannot use the income method for your initial 90 day non-O visa or for the first 1-year extension. During this first year that you obtained with 800,000 baht in the bank, you can make a transfer from overseas into your Thai bank account for 65,000 baht or more, every month for 12 months before you apply for your 2nd one-year extension. And then you can use proof of those transfers for the income
Jyrki *********
@Brandon ***********
If I Have a verification of income can I use IT For The first one years extension?Brandon ************
@Jyrki ********
if it's from your embassy, yes.Jyrki *********
@Brandon ***********
thanks.Jim ********
OP@Brandon ***********
American Citizen. I'd supply my SS income 1099 to the American Embassy in BKK. Any information on past Americans that have gone that route? Thanks.
Kool *******
@Jim *******
I am American, and immigration will not accept your 1099. For the income method immigration only accepts income verification on an embassy letter, which the US embassy no longer issues, or 12 full months of transfers into your Thai bank account from an overseas source. As such the bt800,000 lump sum is the only thing accepted the first year, as Brandon explained. There is no way around it. After that first year extension the monthly income method works, and it is very easy, and safe, to have your social security payments direct deposited into your Thai bank account. As an American you can not use the income method the first year.Brandon ************
@James **********
The LTR is completely different and is under the BOI not the immigration department.
James ***********
@Kool ******
interesting. I’m in the process of getting the LTR visa, and the Thai officials were happy to use only the 1099–Rs as income verification, which I provided for 2021 and 2022. The only problem was that they also requested the 1099-Rs for 2023, which are not available yet. In lieu of the 2023 1099-Rs, I supplied 12 months of 2023 bank statements showing the pension deposits. This info is current as of 3 days ago.
Marty *********
@Jim *******
The US embassy stopped issuing income affidavits 3-4 years ago. You have to use the method described by Brandon. Or you use an agent.Jim ********
OP@Marty ********
I thought that might be the case. I had a Spousal visa years ago and did not have to deposit, but provided income.Then eventually moved back to the States. Now considering returning. Thanks.
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