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Answered5 years ago

Can I use funds from my UK bank account to obtain an O-A visa in Thailand, and what are the requirements for extending it?

Chris ********
asked Jun 25, 2021
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Hi, I'm looking to retire to Ubon next year. Am I right in thinking that if I get an O A visa, I can leave the required money in my UK bank account as proof of 800,000 but for the extension it needs to be seasoned in a Thai account?. Thanks and stay safe
Answer summary
When applying for an O-A visa to retire in Thailand, you can initially use funds from your UK bank account to demonstrate financial eligibility. However, for the yearly extension of stay you must have 800,000 Thai Baht deposited in a Thai bank account in your name, seasoned for at least two months before applying. After receiving the extension, you are required to maintain a minimum balance of 400,000 Baht for the remainder of the year. It's important to note that foreign currency accounts compliant with Thai immigration requirements may also be acceptable for proof of funds.
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Massimo *********
Massimo *********
When you do extension, money must be in a saving account in Thailand and in thai baht. I was rejected last week cause I have current account.
Massimo *********
Massimo *********
David Broadfoot I know very well, but no point to argue with them, the answer is: this is thailand and this is the rule. Argue take you no where. Just more difficoult. I was with my mother, she had saving account and accepted. Mine no way.
Benjamin ******
Benjamin ******
@Massimo ********
There is absolutely nothing wrong with standing up for yourself. If the immigration office doesn't understand the rule, stand up for yourself. It's true, this is Thailand, and it's their rules, but the immigration office can not change the rules for different people.

I think this post have gone long enough, and I'm closing comments
Wayne **********
Wayne **********
I would suggest, depending on which bank you gonna use in Ubon, best to open two accounts. One Investment account with at least 800K. And DONT touch it EVER. That way remains seasoned. Another account will be current to which you bring in your offshore funds as and when needed. Investment account in your name only, current account doesn't really matter then.
Ellie *******
Ellie *******
@Massimo ********
depends on the province, but many people are using a fixed account, or foreign currency account, not a saving account, too.

Your account has to be in Thai Bank unless your embassy issues an affidavit/letter to prove your fund in your home country. (if you can get the affidavit/letter from your embassy, you can use your funds in your home country)

Gonna be off-topic: Just wondering if it's your personal account (not the business entity's account with you are the main person) as you said it's a current account.
Massimo *********
Massimo *********
@Ellie ******
it’s personal account
Ellie *******
Ellie *******
@Massimo ********
your account doesn’t have to be a saving account. But your money in bank has to be “reachable” <- means funds can be withdraw “anytime” even have to pay some fee.
Massimo *********
Massimo *********
@Ellie ******
current account, like any other account, money can withdraw with atm and can use phone app and cheque book. Rejected. They wanted a saving account with passbook.
Massimo *********
Massimo *********
@Benjamin *****
no! No point to have enemies. I just opened a saving account, will do covid extension like they suggested and in 2 months reapply
Benjamin ******
Benjamin ******
@Massimo ********
And did you ask to file a dispute?
Massimo *********
Massimo *********
@Benjamin *****
phuket town
Benjamin ******
Benjamin ******
@Massimo ********
What immigration office was that?
David ********
David ********
You should look into getting the non-immigrant O based on retirement. Thai immigration seems to have it in for OA visa holders requiring health insurance and soon perhaps an additional $100,000 in Covid specific insurance which is not a requirement for non-immigrant O visa holders. I see no advantage of going the OA route any longer 🥴🥴
Nick *******
Nick *******
David Broadfoot Problem here is, there are so many different explanations from so many different people that now I’m back to being confused.

So what you’re saying is…. If you enter on an O visa that doesn’t need insurance, medical check, police check, has smaller fee etc, when you apply for the extension, you still don’t need to have those requirements to get the extension?
Chris ********
Chris ********
OP
@David *******
i had heart attack last December so I'll be taking out comprehensive health insurance anyway but I'll look into non O, thanks. Still hugely confused as to which visa is best!
Nick *******
Nick *******
@Chris *******
Was also confused but I think I’ve made a decision.

While O visa has less requirements on intitial entry to Thailand, when the 90 days is up and you apply for an extension, you’ll have to gather all the same info as if you were to apply for an OA.

So, if you pass all the requirements for an OA, why not just do that in your own country and then you have a year before you need to go through it all again in Thailand for the extension.
Nick *******
Nick *******
@Eigil *************
Ok, so much conflicting info I’m getting. So you’re saying that the O visa extension gets you a further 12 months (retirement) stay by just showing your passport??
Eigil **************
Eigil **************
@Nick ******
the Non-o 90 days extension only requires you show your passport nothing else
Peter ********
Peter ********
But then you can only stay 90 days at a time on a Non O Retirement. Am I correct?
Joe ***********
Joe ***********
@Peter *******
Not Correct... When in Thailand you go Immigration and file for a one year Extension of Stay... 800,000 Baht in your Thai Bank Account in your name only, file form TM.7, copies of passport pages, bank letter, bankbook, proof of residency (lease agreement. Go to the Immigration office get a list of all items required.
Benjamin ******
Benjamin ******
@Peter *******
That's correct, but you can get a one year extension of stay based on being over 50
Joe ***********
Joe ***********
The 800,000 Thai Baht Equivalent used in your Home Country Bank Account to qualify financially can be removed the day your O-A visa is stamped - stickered into your passport - you can withdraw all the 800,000 equivalent. No one will ever check again. However, about one year later when in Thailand and you go to Immigration to process a One Year Extension of Stay based on the O-A Visa - then you will have to open a Thai Bank Account in your name only - and deposit 800,000 Baht into that account a full two months prior to Extension Application.
Peter ********
Peter ********
Is it possible to just get another new O-A visa each year rather than an extension? It will cost more (6000 THB versus 2000) but you never need to keep the 800,000 in a Thai bank. Just time a trip back home each year with your visa expiry. I would much prefer dealing with the Embassy in London than Thai immigration
Joe ***********
Joe ***********
@Peter *******
It has been done many times in the past (pre-covid) and will be done by some in the future. No rule change yet to stop it. However, if Covid re-entry rules persist the time required back in the home country processing a return to Thailand could get drawn out.
Joe ***********
Joe ***********
@Peter *******
IF NORMALITY ever returns to Thailand ... That is if non covid times return where the land borders of Thailand and of immediate neighbor countries are also open - Then having an O-A Visa takes on a whole new light. Because the O-A visa is in actuality a two year visa with an unique method to gain use of the second year. In normal times near the end of the first year with the O-A Visa - because it is also a Multi-Entry Visa - one can just go to the Thai Border (example - Satun) check out of Immigration - walk over - enter Malaysia immigration - then immediately exit Malaysia - walk back 100 meters and renter Thailand... getting stamped back in with an additional 12 month stay in Thailand. Hard to believe - but True.

In normal times one can do this by air travel also when there is no large financial barriers barring return.
Tod *********
Tod *********
You can show proof of funds to BUY the O/A visa from the thai consulate in your country by using your bank there.

BUT

You are correct, when you go to get a yearly extension inside the country at the immigration office and you want to use banked money method you would need the 800K banked in a thai bank account in your name only for 2 months before you apply for the yearly extension, the money would need to stay in the account for 3 months after you get the extension granted and then the balance couldn't go below 400K the rest of the year
Jonathan *************
Jonathan *************
or equivalent in a sterling account in Thailand i believe
Tod *********
Tod *********
@Jonathan ************
Foreign Currency accounts ARE acceptable for proof of funds <- just make sure that there's enough in the account to make up for currency fluctuations.

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